First published on: http://crossover.co.ke/2018/05/16/startup-basics/
Starting a business is hard, very hard. Not only do you need to be in the business but you also need to be on the business to ensure that the direction it is going in is right. But if you get it right, it’s phenomenal.
The first step is to ensure that you have a good business plan – you won’t know everything from the word go, hence it should not be treated as a document that you refer to once it is done but rather as a working document that you keep changing. You need to be able to add in information as you find it or change/remove things that are not working so that you can make informed decisions quickly.
When making your plan, look at it holistically – many people think making a plan is just doing the numbers but it is actually about knowing your industry, your market and the regulations that govern it, your customers, your competitors, your operational strategy, your marketing strategy, your positioning, your unique selling point (USP), aspirations of those that you may employ and your finances.
Palak Tewary 