Things are changing. The effect of globalization has been felt; continuously people are grappling with the phenomenon on how to set up business to succeed in the midst of the enormous challenges that is widespread throughout the globe. However, are we secure as business people? The answer is big NO, we are not. In the midst of the great fear including, cyber-attack, political instability, competition, technology, and climate change.
There is hope to succeed, surroundings all these great fear. One instinct every business people must have is life itself is a risk. However there is a way out to have the growth and success of setting up a business. Below are important points you must checked for when establishing a business, because it serves as a road map in dictating how the end result would look like.
Passion: relate to any strong, great emotion. Passion is the ability to do something over and again even if there is positive result or no result, Abdul karim mansaray. A lot of businesses had failed even before their operation. In analysis this statement it involves two dimension. Firstly, the initial aim was profit, profit and profit. Secondly, there was no pivot, which is to say if the business fails what the next step is. With passion you are bound to succeed by falling and rising again. However, note that doing the same thing using the same technique would not yield any benefit or new result. Passion drives mission and vision. The mission talk about why, for whom, and how? The vision gives an insight on our aspirations.
Team: in moving to the direction of setting up a successful business, setting up the right team with different skillset is paramount to the growth or failure of that particular business. Below are important team players you must always look for in setting up a team, person that will handle the finances of the business, as this person will give accurate analysis about what comes in and out the business. Second person is the human resources and admin as his duties will be to recruit suitable candidate to fill in a position and also draft agendas as to the operation of the business. Marketing person is very important in the organisation as his role will be the marketing of the business product. Fundraising person is important in the team as he will be representing the business in the area of sourcing the business fund if the business should sustain.
Product: in any giving business product will serve as an important growth driver if the business is to succeed. It two ways better product gives better return and poor or inferior product gives a negative return to the business. When you are dealing with a product always try to put the best premium to the product. Product which has more features will help the customers to have the required benefit.
Finance: finance in any business is important. Ninety nine per cent (99%) of the business involves finance. With the accurate finance you are bound to succeed. Finance is also strength as it helps the business in acquiring sophisticated technology which can Foster rapid growth for the business.