HOW TO START YOUR BUSINESS FROM SCRATCH….So It Makes Money and Stands the Test of Time.

HOW TO START YOUR BUSINESS FROM SCRATCH….So It Makes Money and Stands the Test of Time.

Hi Its Iphie ChuAdizue of, Author of The Uncommon Woman book You are welcome to another episode of The Uncommon Woman Show… …the place to be to birth and grow into the woman of your dreams that woman God had in mind when He
created you. Today’s topic is all about Business….Business and the question is
‘How do I start my own business?’ So today I’ll be sharing with you nine steps on
how to start your business. It’s actually a chapter from The Uncommon Woman Book so if you want more details you can get it (link in the description below) But for today, for the next five minutes I will share with you the exact nine steps as stated in the book Step 1: You need to define
your motivation and your objectives. Why exactly do you want to go into business? What do you want to get out of it? Where do you see yourself in the next three years? How much do you want to get out of it? What are your motivations what are
your objectives? You need them for when the going gets tough because in
business the going does get tough. Two: Define your target audience. Who are the people that you need to sell your product or your service to? Who are the
people that you need to reach out to solve for solutions in their life?
Where do these people stay? What’s their life like? Are they married? Are they male?
Are they female? Are they single? Do they live in the urban cities? Do they live in the
rural areas? What do they do with their spare time? You need to understand your
target audience deeply such that if he or she were passing here right now, you’d
be able to say ‘That’s my target audience!’ Step 3: You need to define the size of the
price. What is the size of this entire industry? So for example you want to
start making dairy products…what is the size of the daily products industry? You
want to start making youghurt…what’s the size of the yogurt industry? I mean
quantify it in currency so if you’re in Naira. If you’re in Ghana in Ceedis. If you’re in South Rand How much exactly
is that industry worth? This would help you to know if your
objectives were conservative. Remember in Step one you were supposed to define your objectives and quantify it in currency as well. So when
you come to step three and you define the size of the prize in currency…naira
and kobos.. you know dollars and cents.. It’s easy to see if your objectives
were unrealistic or if they were too conservative. There’s a smart way to do
this using Facebook. It’s in The Uncommon Woman Book Step 4: Learn from the
current players in the industry Who are those that currently play in these
industries? Who are the top two to three businesses that play in these industries?
What are they doing very well? What are they doing that people love about them? What
are the things that people complain about when it comes to their products or their
services? How do you find this? Go out to forums. Go out to their Facebook pages , you should be able to find a thing or two. Because, obviously you need all these to put
together when you’re crafting your own product, your own services. The things they do can you do better? The things they don’t do
do you far exceed the expectations of the consumers in this regard? Step 5: Find Your Twist of Originality There’s so much copy and paste happening now in the
business’s actually very very irritating and frustrating. You see
someone that is making money from a particular business and there’s so much
of this ‘ me too’ syndrome so you jump into it.. that’s not the way to succeed in
business. It’s okay to start…It’s fine if you say I can start that way but you
can’t sustain the growth of your business that way. You need to have your
own twist of originality. How do you get your twist of originality? One way is to specialize. So what niche within that industry is currently not
attended to…is currently not being fully tapped? How do you tap into that niche?
how do you occupy that niche and own that niche? So for example, when it comes to shoes for women, there are so many people who sell shoes but there are very
few people who sell plus-sized shoes. So the question ‘In the industry you’re
trying to go into, is there a niche that is currently not been served as
fully and as optimally as they would love? Can you go in there and own that
niche? Find your twist of originality! Step 6: Define your products What products..what services are you going to be selling to the people in your target audience? There is an interesting thing that and l learnt as well from the Proverbs 31 woman.. She actually worked with wool and with flax. Flax is also like a linen and a deeper research showed me that wool was like
the everyday clothing of the masses while linen was for the Elite. What does
this mean? It means that she had a portfolio of products that met the needs
of a wide range of people. She had products and services for the
masses and she also had products and services for the elite. So when you are deciding the products and services that you would offer, as much as
possible you could have a range … something that meets a broad spectrum. It doesn’t mean that you deviate from what you do.. So for example you’re in real estate and
then you build houses..who says you can’t have like a high-end house in a
highbrow neighborhood and then you have something in a middle income area and then you have something in a densely populated area
but the key thing across all of them is the quality ..the standard is the same
it’s just that the locations are different and so it meets different classes
of people. So, what are your products.. What are your services? What would do your wool product…what would be your linen product? Think it out.. Step 7: Enlist the support
of your husband especially….well you don’t have a husband except you’re
married :-). So if you’re married, enlist the support of your husband. There is so
much you can achieve when you have the support of your husband. There’s also so
much stress and tension you would go through in the business if you do not have
the support of your husband. There are several ways to do this. First of all, you to
understand his mindset about women who have businesses and also are saddled with the responsibilities of being a wife and a mom. You need to
understand how he thinks, how he processes this information. What are
his fears and then curb those fears. There’s more details in The Uncommon Woman book. There are actually like seven steps to enlist his upport so that your dreams
with regard to your business can actually fly off. Step 8: Partner with God
It’s a very interesting step but it’s a step that has helped me and has been the
key driver of making my business successful. Before I started Deluxe
Childbirth Services six years ago, I had before then 4 failed businesses, the one
key thing that made Deluxe successful was this step..and the I
partnered with God. What does it mean to partner with God? Bring God into your
business and have a discussion as you you even decide what business
to it with Him. As you decide what products to sell, work it with Him. Ask Him for His thoughts. Ask Him for His input and once it’s all set and you are clear on what you want to do, give God responsibilities I remember when I started my business, my discussion with my God was.. “God you are my Chief Marketing
Officer, I can’t afford to do any advertisement right now so I need you to
give me insights, give me tips on how to drive awareness and when I get
to talk to people please plant the word about my business
in their heart so that they are very very welcoming. Give God responsibilities
…but of course with responsibilities comes His share in the profits and in my
business for example, He gets thirty percent so that’s our deal. But then the
trick here or the the point to be careful about is not to treat your
relationship with God just as a business transaction..that’s wrong! Imagine you
went into business today with your father, would the business transaction be
everything that’s all about your relationship? No it wouldn’t. So as a daughter, still need to maintain your relationship
with your Loving Father and then within the ambits of the business that both of
you are partners on, don’t just come to Him when there are challenges but also
let Him know the status of business. Review business regularly with Him and
the last but not the least step is to Get into the grind yourself.
One thing that distinguishes a business that successful from a business that
will fail is the knowledge of the owner If you don’t get into the business, get
your hands dirty, your staff will…there’s how we say it in Nigeria..your staff will
‘gba’ you! Like you literally come in one day and you have nothing. You need to get into the business to understand the way
everything works and do it yourself. Now that you know all this, what are you going to do differently? It’s possible you might not even know what gifts of yours, what
strengths in you that you could turn around into a business. If you’re in
that situation then I have a gift for you. I have a free ebook. It’s titled ‘Identifying your Money-Making idea’. The
link to access it is below in the description. It would help you and take
your step by step on how to identify that idea you can turn into your business and
then you can apply these nine steps to start it. Remember there’s an assignment with your name on it, there’s a world out there just waiting for your own unique touch
and there’s a God that is ready to back you up to deliver the success that is
yours… so put your game face on and arise
and shine. If you love this video, please do not hesitate to like it share it with
your friends and family and click the bell button below to subscribe to this
channel for more videos when we post them. Thank you

3 thoughts on “HOW TO START YOUR BUSINESS FROM SCRATCH….So It Makes Money and Stands the Test of Time.”

  1. Thanks for watching today's video! Which of the 9 steps resonated the most with you? Is there any step(s) that you would love me to delve deeper into in subsequent episodes? Hope to hear from you soon! Cheers

  2. Awesome. My favourite is step 8. Partner with God. The part of having a discussion with him and letting him know the state of the business. Will do that.

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