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7 things I wish I knew before starting my own business

7 things I wish I knew before starting my own business


By Admin

Published on Thursday 21st March 2019
Last Updated Sunday 16th February 2020

Topic: 7 things I wish I knew before starting my own business comment by jesutofunmi at 21-03-2019 06:01

7 things I wish I was told before starting my own business venture

As an upcoming entrepreneur, I was too eager to start a business of my own, even before starting, I was already seeing myself in a very big mansion with super cars. Do not blame me, I actually love the sound of success. Back then, I was not aware of some cogent matters that must be addressed before venturing into my business. This is partially because there were actually no successful entrepreneurs out there with enough time to sit me down and orientate me on the I’s that needed to be dotted and T’s that needed to be crossed. “Had I known” was a word that I frequently mutter during my early days as an entrepreneur. I wish I was told it was not a really smooth journey. It is a path full of hurdles still leading to success.

Today, I will be sharing some of the very important things I wish I was told before starting my business venture.


Seven things I wish I knew before starting my own business venture


1. Mentorship actually matters

How I wish I knew that to rise to the top, I needed to ask from people at the top how they actually made it. I was just too eager to venture into the business. I wish I was patient enough to seek advice from made people in the business I was venturing into to gain experience. You should learn from me. Do not underestimate the power of mentorship. You need someone to guild and put you through that business you are planning to venture into. It actually helps and saves you pits you might fall into as a newbie in business.

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2. It is not just about making profit, it about helping others

Yeah, the aim of setting up your business is to make profit, but trust me, you have to see beyond that, you have to concentrate more on value you are adding to your customers and community at large. It is only when you realize this that you will be able to satisfy your clients enough. The side effect of this is that when you are more focused on value addition, you are actually promoting your business to a wider range of audience, thereby, boosting your customer satisfaction level. It is only when your customers are satisfied with your product/service that they can come back for more.

3. You only get stronger

My entrepreneurship journey was a little tough, and today, I am glad that I went through all that I saw on my way to greatness. As an embryo on business matters, you must be aware that the road is not as sweet as you might actually have thought it looks. I quit many times before getting myself on the right path. I wish I was told that no matter what I face on the road to success, it doesn’t kill, it will only make you stronger.

4. Pay attention to small things

Do not be surprised that those little things you tend to overlook actually determines the success of your business. For example, you should always endeavor to contact your customers if they are satisfied with your product or service. Clients sees this little act as a kind gesture and they develop a sense being secured and they see that they actually matter to you.

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5. Once you start, you are on your own

When you are about to start your business, people tend to show a side that actually cares to you and encourage you. They will look supportive of your venture. But when you get to the middle of the “big river”, believe me, just few will actually be ready to give a helping hand. Do not blame them, that is actually life for you. Make sure you are ready and be determined that whatever comes your way, you shall overcome it.

6. Focus on a particular business

I was young with so many ideas on my head, I wanted to implement everything at a time. Don’t blame me... lol, I was just so ambitious. I never knew that I have to be specific, I don’t need to produce so much different products. I only needed to produce one and make it unique to my customers. Well, “had I known”. You should learn from my mistakes. Focus only a particular niche and have a target audience. Trust me, you will be glad you heed to this advice.

7. Build great relationship and network

To have a huge customer base, you need to build at least a reasonable customer network before venturing into any business. I wish I was told. I was too eager. I was so sure of getting my customers. Yes, I actually succeeded in developing a wonderful customer base but it was not so easy.

In conclusion, no matter how much you are willing to invest in any business, do not be in haste to set it up, else you will regret on the long run.

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