I hope this will serve as an eye opener to all those planning or thinking of starting your own business and let you see what would-be investors would want to see before they invest their hard earned cash in your business.

Every investors would be more at peace if you have a valuable stake in the business as it would re-assure them that you would do all to ensure you don’t lose.

* Your Idea i.e. the motive behind starting the business. This is like the building a house, if the foundation is not solid enough,  whatever you build n it would come crumbling, so spend a lot of time working on the idea before you start.

* Implementing your idea, this must be done wisely and from the on-start you should look for every way to reduce your cost as most business waste a lot of most at start ups, you need to prioritize your list and buy only what is needed at the moment.

* Patience – a lot of business owner are usually impatient as they suffer from ‘quick money syndrome’ and this is a condition that does not help the survival of your business. you will need to have lots of patients otherwise, you would be easily discouraged.

* Capital Short – circuit this is when a business that has already been launched suddenly has no more funds to invest n the business and these can include expenses like advertising, bills and so on, this is also possible even if you have received funding from an investor. This could be very frustrating and can put a lot of pressure on your business, at this stage many give up but as a business owner, you must manage your accounts properly and make sure that, there is always some funds reserve for the unexpected.

* Lack of Motivation – I have seen many business owners lose their motivations afters failing to secure sales and fail to achieve their targets they soon become de-motivated. People generally tend to place their businesses with those that have been for a longer time as it is just a mind set. Having said this, all the big successful businesses today all started as new business, so all you need to do is hold on there. With patience and dedication, you can get noticed and accepted in the market as long as you keep your motivations high.

* The Investors invest their money for medium and/or long term profits. These profits need to be spread over time. If the support system for any system is good, the better the business performs. Although no one seems to, realise this when investing in a new business.

I believe that, if you take into account these points discussed here and guide against some other mistakes businesses make, along with the right level of motivation, dedication and commitment you would be giving your business a good start and avoid the possibilities of failing as most business do at start-ups

Many people say ’starting a new business from scratch is too difficult’ well, it depends on how you look at it.

Before starting a business there are 8 questions you should ask yourself and they are:

what is the business all about?

Do you have enough passion for that type of business?

How well do you know about such business?

Are you prepared to learn if need be?

Who are your target audience or customers?

what would you do to attract and keep them?

Who are your competitors?

what are they doing to succeed and what would you do to make your own business have an edge over theirs?

Although, funds available might not be the most important factor but, it is important to have enough funds to keep the business going as you would not want to any break in trading as, this would not leave a positive impression on the minds of your prospective clients or customers.

Good guidiance is needed when starting a business as, the foundation upon which a business is built, determines the logetivity and success of that business.

I have seen too many good ideas hit bottom rocks due to lack of good counsel.

Never look for cut corners, be prepared to work hard and the more time you give to your business, the more the reward you’ll get

Watch out for a continuation of this article on how to cut cost in setting up a business.