10 COMMANDMENTS FOR BUSINESS STARTERS IN NIGERIA

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Dear Business Starter,

10 COMMANDMENTS FOR BUSINESS STARTERS.

1. Thou Shall Not start a business without having a feasible business plan in place and some basic consultations no matter how small.

2. Except typically necessary, Thou Shall Not rent a shop/office, if it will bite into more than 50% of your startup capital. Negligence to this is a fast way to failure before you start.

3. Thou Shall Not hire staff you do not have at least 6months financial plan to cater for.

4. As much as possible, Thou Shall Not start a long term business with a short term loan. You will only put yourself under undue pressure and eventually shoot yourself on the foot.

5. Thou Shall Not start a business basing all your patronage expectations on family and friends. Most times they don't patronize jack!

6. Thou Shall Not divert your business capital into frivolities. Remember, when you spend money on what you don't really need, you end up lacking what you would really need. Wrong decisions like this will eventually deal you terrible blows.

7. Thou Shall Not surround your business with family and friends if they have nothing significant to add to its growth.

8. Thou Shall Not go into a major business without a plan B and at least a plan C in mind. Businesses do not always work according to your initial plan
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9. Thou Shall Not go into a business you have no knowledge about. Get some basic knowledge about even if you must rely on the expertise of a partner or a member of staff.

10. Thou Shall Not spend huge chunks of your capital on esthetics such as exceptional logo branding, state of the website, exquisite office furnishings. Gradual does it, ok?

Do you have any questions? Please, ask. If you have some other "Thou Shall Nots" worth adding or anything else, kindly add in comments.

Reallion Samuels is my name. I am a Writer, a Certified Business Developer, and a Corporate Solutions Consultant.

To your business success!

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