Starting a successful business requires proper planning from the beginning. You should understand that ambitions must start small and have structures in place. It requires choosing the right business opportunity carefully and having patience as well as a financial plan to support yourself. Running a business also requires constantly updating your skills to handle challenges. Key steps include having a financial plan to support yourself at first, seeking help from professionals, learning about the industry, and registering your business legally. Once started, be prepared for the unexpected, stay informed, practice financial discipline, seek help, and focus on sales and customer service to keep the business running successfully. Overall, maintaining a positive attitude, working hard, and relying on God are important for entrepreneurial success.

1. Starting a
successful
business: getting
it right from the
start
By
Angela ItIhunweze
CEO
Angela Itambo Company
08033280453

2. Outline
 Before the start
 Having started
 Final words3

3. Before the start
You Should understand that such ambition
must start small so as to ensure proper
structures are laid
 It will require extreme prudence and
caution in the choice of business
opportunity
 It will require patience as well as a
financial plan in place to cater for his or
her physiological needs e.g food, shelter
e.t.c
 Running a business requires constant up
date of business techniques so as to be
equipped for the challenges that comes.

4. Before the start 2
 Have a financial plan which will enable you set aside a
sum to cater for your upkeep during the period of
inertia. At least have a plan on how you are going to
fend for yourself before the business starts making
money
 This will entail creating a nest egg, which is a
portfolio of investments which can generate income
while you focus on this venture, e.g invest in mutual
funds, government bonds, fixed deposits, shares, if
you can afford it real estate. This will ensure you don’t
become desperate to recoup your investments and
truncate the business immediately
 Seek for the right help in terms of business skills You
don’t have

5. Before the start 3
 B e acquainted with the knowledge about the industry you are about entering.
This can be got from trade associations, depending on the business concept
you about to create. You will also be acquainted with the permits required,
experiences from others which should not scare you rather enable you plan
well.
 Undergo training in business management which is absolutely important,
fortunately we have organizations that do just that
 Be acquainted with the technical issues of your business, it is by doing so, you
can now research and create business offerings that will be needed by your
target customers e.g Microsoft Bill gates
 Have a reliable and competent business advisory professional on whom you
can retain till you take off well, he or she is meant to assist you with the
following:-
1. The various legal forms of organization and the most suitable for your kind of
business, this must be one of the first things that should be done
2. Liaise with other professionals in accounting, legal e.t.c to ensure you lay the
right structures in your business
3.
4. Assist you build a business plan that will be suitable for the kind of business
you intend to establish
5. Provide you with counsel and keep you informed about any happenings that
may affect your business

6. Before the start 4
 Choose a name for your business
 Register it with the Corporate Affairs
Commission
 Secure a bank account strictly for the
business
 Have an idea on what you should be
expecting in terms of sales revenue so as to
plan
 Go out and seek for potential customers. A
sale is what you need to keep the business
going

7. Having started
1. Be ready for the unexpected
2. Be girdled with information, which means keep your nose to the
ground
3. Financial indiscipline is the easiest ways to ruin your career, that is
why we suggest creating a nest egg and inculcating strict accounting
practices, to check mate excesses
4. Be ready to seek help at all times
5. Time management is paramount in avoiding failure, that why it is ideal
to either have a mentor or a business advisory professional on retainer
ship
6. Sales is what keeps the business afloat therefore invest in activities
that will generate sales especially cash flow
7. There is no substitute in the following;
 Professionalism
 Planning
 Diligence
 Networking
 Financial discipline especially re-investing in the business
 Reverence for your maker Almighty God

8. Final words of wisdom
 No matter how bad you think your situation is, be rest
assured that someone wishes he or she was in your
shoes
 Checking out isn’t the problem, drop that pride and go
down to the trenches and get your hands dirty, if you
are willing to do it in another man’s land why not here.
Nigeria is your home.
 You are an original and not a cheap copy, therefore be
aware that you were created for an assignment as an
entrepreneur, it is up to you to find what that is, this is
what differentiates an ordinary small business man or
woman from an entrepreneur
 You need divine wisdom to pull through and this only
comes from the Lord. It is the Lord that makes rich
and adds no sorrow
 Quit worrying and relax, worrying will only make
matters worse.
 See entrepreneurship as a career you want to excel in
and you will be at the pinnacle of it all.

9. It is time for questions
List three most pressing questions that
bug your mind and send via the e-mail
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Thank you and God bless you for
attending Amen