Are you thinking about starting a business??
Ok do you want to get your business started fast without spending a lot of money or wasting a lot of times? Our checklists for Starting a Business With Less than 500,000 Naira can help.
We understand that your time is very important so we'll keep this article short. Also we know that you could be watching random videos on YouTube or scrolling endlessly on social, media, but know that you're serious about starting a business the right way. Also, make sure you read until the end I am sure that you will get good idea here.
Previews of the Checklist
The checklist has several sections, including the following:
1-Before You Start
2-Start Your Research
3-Start Business Formation
5-A Resource List
Who This Checklist For Starting A Business Is For
It’s written for those who are serious about getting started fast. When I say fast, I mean in one day over about 4-5 hours if you have some business experience and 2-4 days if you have no any business experience and only learned about the Internet and Google searches last week. If you're still debating whether you want to start a business,
Who This Business Starting Checklist Won’t Be Able To Help
While our goals is to help as many people start a business as possible, there are many people we won’t be able to help. We even know who these people are because we’ve had lots of experience with them over the years.
The following people probably won’t get results from the checklist:
People who are procrastinators.People who seek perfection as a way to avoid action.People who get distracted easily by trying new and shiny things.People who aren’t willing to put in the time to be successful at something.People who are addicted to checklists and courses but never apply what they learn.People who don’t check their email regularly.Discount and free stuff chasers who don’t invest money in themselves or others.
Before You Start A Business For Less Than 500k
1. Start Your Research
Researching your business before you start is one of the most important parts of starting a business. Research is vital because it helps you know your options, decide on a business niche, learn about your target audience, and be informed about the products and services you will provide. As a result, research helps you build the foundation of your business.
The best thing about doing research today is that the internet provides many articles and websites just like this to help you get started. There are also lots of great videos, courses, and even people who you can learn from when researching various business niches to find out which ones fit your personality, which ones are seasonal, and what the most profitable business niches are.
While performing your research, make a list of the following:
Whether your business is a product or serviceWhat industry your business niche is inNational, local or online competitorsWho your target customer might beIdeas for a business name and website
This stage of your research might take time, but it is necessary for the next step of starting a business, which is business formation.
2. Form Your Business
Business formation might seem complicated, but it can be easy if you're starting a business that doesn't require special licensing or certifications. Additionally, with many online businesses, you don't have to form an official business entity at all because you can get started on freelancer platforms like Fiverr and marketplaces like eBay as an individual. Then in the future, you can always set up your official business later.
Remember that this is not legal advice, but we want you to know that you can start many at-home and online businesses without registering a company first. You can also set up a website, get an official email address, and create social media accounts for your business without setting up an officially registered business.