Essentials in starting a lucrative business with small capital

Vegetable seller at the streets of kangemi, Nairobi. PHOTO | BMS

The main purpose of schooling, as we are made to believe, is to get a proper job but since reality is way harsher, a minute percentage will get the jobs most of who will live hating their jobs. The unemployed will resort to money-making activities including entrepreneurship, networking and many others. 

Now there is a fine line between an entrepreneur who tries out a new idea or even use a whatever is in the market in an entirely different way and someone who just copies everything as it is from one who already did it and succeeded. Entrepreneurship is riskier and is bound to opposition or even go unrecognized since it something alien in the market. Both ways can work or not depending on your approach. 

Now when starting a business the following should be considered;

1. Have extensive knowledge of your area of business

Before setting up a business you should know;

• The amount required for the whole set up 
• The type of market you will be dealing with be it adult, toddlers or youths
• A suitable location for your business
• Where you will replenish your stock

2. Consistency

You should be open in all stated business hours and days so that customers can build their confidence in you. Unpredictability in working days narrows customers confidence.

3. Competency

One thing customers appreciate is service well rendered and quality goods. Start a business in which you are well conversant with to avoid nasty glares and tantrums from unsatisfied customers.

4. Be fair

The transactions should ensure there is a mutual benefit from both parties. That is the prices should neither be too high not too low. You should be considerate of the customer's financial strength and also your gains.

5. Rapport

It is often said that friendship should not mix with business. True but that is not a guarantee for being rude with everyone. A gentle nature lures and understanding nature is a natural lure to customers. Give each their due of respect and the same will be reversed.

6. Jack-of-one-trade

We all know of those who try every possible business and still flop. Rather than this you should stick to your area of prowess and build it to an empire. Trust me it is better that way.

If you keenly follow these, then success is waiting on the way.