8 Steps To Setting Up A Business

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 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 (crowdfunding))

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. Contact Hexavia for business, structure and management consulted

Eizu ©Hexavia!

PMP®, MBA

Strategy. Systemization. Business StartUps and Corporate Restructuring Consulting

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