Do not be blinded by the fact that you have your starting capital and disregard the need to ensure that you start and run your business in the best manner possible. To help with your analysis and decision making, consider following the tips below:
- Communicate with successful business owners in your circle
There’s no better place to source business advice than from a person who has gone through the ups and downs of being an entrepreneur.
On hearing the difficulties, it will be easier to decide whether you want to go down the same path or not. Also, you’ll have a chance to devise strategies that will stop you from making avoidable mistakes.
- Use the internet to obtain information
Through platforms like YouTube, you can watch videos on how the world’s greatest business owners have become unbeatable players in the business world.
- Gain insights from potential clients
Survey to determine your customer’s needs, so that you can choose the best way to satisfy them. Remember that for your business to be in operation, you must devise techniques to keep your customers happy for a long time.
- Set business goals
As stated earlier, you must not sway away from your goals, regardless of the number of business-related challenges you’ll experience. This means that you must have a sense of direction to increase your chances of being an entrepreneur to watch. Start by setting goals that are in line with the fact that you’re not an experienced business person. You can change them as time goes by.
Now that you know how to succeed in business, below are some business ideas to consider if you have 50k in Kenya:
Every person wants their hair to look good, which is why setting up a hair salon or barbershop is a good idea. Whatever you choose, ensure you’ve been well trained to avoid dissatisfying your customers. Remember that your business will be dealing with people’s outward appearance, and you want your good work to be recognized by other individuals so that they can seek your services in the future.
If you already own a piece of land you can dive into agriculture and start planting whatever can do well in the area where your land is located. For example, you can plant grass and sell it to people who rear cows. You can also concentrate on groceries, such as cabbages, tomatoes, kale, and potatoes, then sell them to the people who leave close to you or supply them to sellers in your nearest market.
- Online freelancing
Online jobs are rapidly gaining momentum as they offer more flexibility compared to regular office jobs. For instance, if you choose to do online writing or become a web designer, all you need to do is invest in a laptop that will cost you approximately, Ksh 35,000, invest in a home internet connection for Ksh 3,000 per month, and spend the rest on paying for training to be good at the services you intend to offer to your clients.