SELF STARTERS NIGERIA

You have brilliant ideas for a new business plan on something you have always been passionate about. After considering all the possibilities and challenges you might have to face in the future, finally you decide to leave your day job and swerve your way into a full-time entrepreneur. From managing financial plan, designing the product and testing the prototype, to testing the potential market, you have prepared everything carefully. But then you start questioning yourself, are you really ready to launch your business? Starting a startup can be an exhilarating experience that will not only drain your energy, time, and money, but also your emotions. As a newbie in the entrepreneurial world, you will more likely feel worried about the future of business you are about to introduce. The equal chances of gaining phenomenal success or total failure often leads to a feeling of doubt and uncertainty about the path you choose. While you might have prepared a detailed and thorough product design...

Starting product based business is not easy. Manufacturing and selling a product involves setting up production, business systems, and a sales team. It is exciting, challenging and includes a lot of hard working. knowing what motivates you is key to starting product based business.  Here, we explore 10 crucial things to consider in starting product based business of your own. #1. Check Your Idea Before starting, check your idea twice. After developing the idea of the product, check your potential competitors in the market, both direct and indirect. Define your ideal consumer demographic. #2. Get Market Feasibility Report Starting product based business includes manufacturing, sales, marketing, accounting and HR operation. You may have a great product, but are you in the right market? Having a market feasibility report prior is highly recommended. It will define your distribution mechanism, pricing structure, and other business variables. #3. Craft A Busines...