8 Steps To Setting Up A Business

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Our world is filled with people who either did and never thought, or the people who thought and never did.  Successful people think and do and here is how.

Okay, here we go!!!

1.Generate a Good Business Idea (this can either come from a passion/skill, an eureka! (one dramatic moment of a discovery, a Greek word for “I have Found it!”) or a need/opportunity).

2.Carry out a feasibility study on that idea (understanding the SWOT and PESTEL in relation to you and the host environment). The Feasibility Study can be either in the areas of Market, Product, Finance and Mgt feasibility studies).

3.Draft a Business Plan

4.Source for Funds (through Private Savings, Loan and Equity Financing (Investor). Borrowing can come from a friend/family, loan from a bank, from a trust fund, community or a pool (crowd funding))

5. Determine the ownership structure, team and management .

6. Formerly register and incorporate the business  with CAC in line with Federal Govt and CAMA of 1990.

5.  Engage in the Product Development and Branding.

6. Carry out Product Testing, “Freemiums” and Launch.

7. //DELETED//

8.//DELETED//PropertyofTheHexavianMasterclass//

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I hope this helped. Welcome to class..

Eizu Uwaoma
For : TheHexavianMasterclass

‪#‎HexavianMasterClass‬ is a full day intensive class on Business, Brand, Strategy and Mgt. After it, you join the alumni, a rich network of the most powerful minds in Lagos, Abj, PH and diaspora, it’s called TheHexavianBusinessClub.

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If you knew better, you’d do better.
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