What Do You Want Out of Your Business?

by - Wednesday, August 30, 2017

While it’s one thing to be motivated to start your own business, it’s another thing to understand why you want to run your own ship. When you have a clear awareness of the whys then the hows are much easier to deal with. The following questions will help you realize your true reason for wanting to be an entrepreneur or a self-employed worker:

1. Do You Want A Second Income To Cushion Expenses?

Maybe you already have a job and need extra money. Or you want to make certain contributions to the family coffers. Well, if this is your main reason for starting a business then you can either run a business from home or run one from a designated store or office. If your reason is extra funds then you need to be profit-minded when picking a business. Most often huge capital is required for a business that would rake in huge profits. You could be a sole worker, partner with someone or have staffing, which depends on what exactly you want to do as a business.

2. Are You Getting Self-Employed To Have More Family Time?

A lot of women quit their tedious jobs to spend more time with their families but they wouldn’t want to be the idle housewife. If this is your reason then you ought to pick a business that allows you work with your family’s schedule: being around with the kids after school, being able to prepare lunch in the morning without resorting to snacks due to rush hour.

Great Business Tips For Nigerian Female Entrepreneurship

3. Do You Want To Make A Difference In The World? 

Some women are passionate about certain causes and want to make an impact in their environment. If you are a humanitarian then you could look into starting a non-governmental organisation that would help push your cause of interest with financial aids and sponsorship from persons and entities. Take note that this is a time and energy consuming venture, and sometimes isn’t really profitable. So ensure you are taking this path because you have the passion to effect a positive change concerning your cause. It would be wise to partner with existing similar organisations to get a better understanding of how such businesses function.

4. Do You Want To Be An Employer of Labour Yourself?

We hear and read the term Boss Lady a lot and for some women, they want to be the boss! Running a business where you’re a boss and in charge of employees is not an easy feat. Such businesses require business planning and a feasibility study before embarking on it. The type of business you would run that would make you a Boss Lady can be as simple as working from home with a one or two staff to being as complex as hiring an office space and have multiple employees under your charge. Ensure you have a business plan with 2 year projections before running a business where you have to pay salaries.

You don't have to be an entrepreneur to be successful

After all is said and done, it's imperative that you choose a business that best answers your need(s) and is a venture you would enjoy doing. It’s demanding enough to run a business and it’s even more demanding to run a business you have no experience with or enthusiasm for. Do your research, kick-start your business and have a swell time growing your business baby.

Photo credit: Naij

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