15 May, 2019
We know it’s hard to turn a business idea into an actual business.
During multiple discussions on the state of entrepreneurship in the country, it was stated that job creation remains a key challenge, along with a lack of skills development and insufficient support for entrepreneurs; hence support for young businesses is vital to their success.
Mature guidance from professionals is key to success; however, there are few stepping stones to go through to reach your goal.
BUSINESS PLAN GUIDELINES
Every business venture can benefit from the preparation of a carefully written business plan. The purposes of a business plan are to:
1. Help you think through the venture and ensure that you have considered all your options and anticipated any potential difficulties.
2. Convince potential lenders and investors that you are in control of the project and that their money will be safe with you.
3. Serve as an operating guide as you turn ideas into a viable business.
The final business plan should be tailored to fit your business circumstances and personality
DEVELOPING ENTREPRENEURSHIP SKILLS
Another key challenge facing entrepreneurship is a lack of entrepreneurial skills both at formal and informal levels. To address this skills shortage, fellows who have a curious, entrepreneurial mindset; and are high academic achievers require motivation as well as access to the right support and development to cultivate an entrepreneurial mindset.
Although entrepreneurship may well be an inherent skill, it can also be taught, provided the individual receives appropriate inputs, including opportunities for collaboration, personal mastery, networking, and lifelong learning.
KEY TO SUCCESS
Recent research into the key mindsets of an entrepreneur showed that entrepreneurs have set dimensions that characterize them. These include entrepreneurial desire, focus, confidence, diligence, innovation, leadership, motives, resilience, and self-control. It also indicated that start-ups who received support had a 50% higher chance of creating jobs, and were likely to create 60% more revenue and three times more likely to secure investments.
Start-ups Need Support to Succeed
After you have completed a draft of your start-up business plan, as well as polishing the required skills to your success, it’s time to seek the support of experienced small business advisors who can assist you in identifying your next steps.
The right support will shape the future of your dream business, furthermore finding a complete solution in one stop will contribute to strengthening your journey to the goal to be achieved.
Pioneers in business support will assist you with a complete solution that develops your startup business to be settled in the marketplace. This solution will be a combination of integrated services, serviced office spaces along with qualified business consultancy on all levels.