By

ANGELA IHUNWEZE(Mrs)

(Business consultant/ business plan writer/speaker)

/

0704597 08033280453

CONTENTS DEFINITION OF BUSINESS

REASONS FOR STARTING A BUSINESS

STEPS TO CONSIDER BEFORE

STARTING A BUSINESS

WHAT MAKES A BUSINESS

SUCCESSFUL

WHY BUSINESSES FAIL

WISDOM

DEFINITION OF BUSINESS A commercial activity engaged in as a means of

livelihood or profit, or an entity which engages in such activities.

Any activity or enterprise entered into for profit. ( It must be legitimate and most especially Godly)

HE THAT TILLETH HIS LAND SHALL HAVE PLENTY OF

BREAD:BUT HE THAT FOLLOWETH AFTER VAIN PERSONS

SHALL HAVE POVERTY ENOUGH( Proverbs 28v19)

REASONS FOR STARTING A BUSINESS

To augment your income. (In the morning sow your seed, and at

evening do not let your hands be idle; for you do not know which will prosper,

this or that, or whether both alike will be good.) Ecclesiastes 11v6

No fulfillment in the paid job or present career

Have a flexible working pattern; this allows you to do

other things

Desire to eradicate poverty for good in your lineage

You have a strong conviction that this is the will of God

for your life. Isaiah 48v17(Thus says the Lord,

your Redeemer, the Holy One of Israel:

I am the Lord your God,

who teaches you for your own good,

who leads you in the way you should go.)

STEPS TO CONSIDER BEFORE STARTING A BUSINESS

Seek the face of Almighty God on His will and direction for your life especially as regards business. Deuteronomy 8v18, Isaiah 48v17

He will lead you along your flair, your talents. This equally involves undergoing a personal assessment test

The business you may be interested in belongs to an industry and it is governed by regulations and a pattern of consumption by consumers. To excel in business, you must undergo thorough research to be aware of all that is involve to succeed. Luke 14

28v30(28. For which of you, intending to build a tower, does not first

sit down and estimate the cost, to see whether he has enough to

complete it? 29.Otherwise, when he has laid a foundation and is not

able to finish, all who see it will begin to ridicule him, 30. saying,

“This fellow began to build and was not able to finish.” )

STEPS TO CONSIDER BEFORE STARTING A BUSINESS Part 2 Research to investigate the following:-

1. The industry, the players, the regulators, the standard pattern of operation, the cost of setup, trade associations that protect the interest of those in the business you wish to start

2. The consumer groups that exist

3. The competitors

Register your business name as divinely inspired by Almighty God as soon as possible with the Corporate Affairs Commission

Plan on how to enter the market.

STEPS TO CONSIDER BEFORE STARTING A BUSINESS Part 3 Plan your business, however the size. Failing to plan is planning to fail.

(For which of you, intending to build a tower, sitteth not down first, and counteth the cost, whether he have sufficient to finish it?029:Lest haply, after he hath laid the foundation, and is not able to finish it, all that behold it begin to mock him,030:Saying, This man began to build, and was not able to finish) Luke 14v28-30 .

Planning is an act of formulating a program for a definite course of action;

A business plan is a written document that outlines all the elements that will transform your idea into a viable business venture with the aim of achieving profit to all stakeholders

1. Yourself the promoter; alleviate poverty2. Outside investors; create wealth3. The economy; job creation as well as revenue from taxes4. The environment at large; curb social ills Undergo training on the technical as well as business management

system of operating the business of interest.

WHAT MAKES A BUSINESS SUCCESSFUL

A successful business is a business that is well planned and executed and achieves the goals and objectives of its creation. This ensures that all stakeholders in the business are adequately taken care of. Proverbs 27v23-

27(Know well the condition of your flocks, and give attention to your herds; 24

for riches do not last for ever; and does a crown endure to all generations? 25

When the grass is gone, and the new growth appears, and the herbage of the

mountains is gathered, 26 the lambs will provide your clothing, and the goats

the price of a field; 27 there will be enough goats' milk for your food, for the

food of your household and maintenance for your maidens.)

WHY BUSINESSES FAIL

Failure to heed to the leading of Almighty God. Isaiah 48v17-18

Failure to properly research to keep abreast of all the facts Luke 14 28v31

Failure to plan (Failing to plan is planning to fail)

Not having the right frame of mind to start.

Lack of discipline in money management not saving for the rainy day. Proverbs 21v17

Failure to seek for help when in of one. Proverbs 19v 20

Wisdom Commit your work to the LORD, and your plans

will be established. Proverbs 16v3

It is not good for a man to be without knowledge, and he who makes haste with his feet misses his way. Proverbs 19v2

He who loves pleasure will be a poor man; he who loves wine and oil will not be rich. 18 The wicked is a ransom for the righteous, and the faithless for the upright .Proverbs 21 v17

Raising money for your business Using your savings

Selling some of your personal effects

Re-investing money made from your business into the business

Accessing external funding from friends,family and the banks either commercial or government owned banks as the BO1

Accessing grants from organisation example is the Federal government project

Over 2,400 people across Nigeria have accessed these funds

Angela Itambo Start-up business guide lists each is electronic @ N1000 each1.Agro-allied

2.Meat processing3. Out-door catering4.Bakery5.Fast food restaurants6.Cake making7.Juice bars8.Non –alcoholic cocktails9.Finger foods10.African Fingerfoods11. Bar12.Export of non –oil commodities13.Furniture making14.Interior decoration

15.Dry cleaning16.Travel and tours17.Car wash18.Petrol station19.Consulting20.Haulage21.Drug store/pharmacy22.Training and consulting23.Media business and entertainment24.Wedding co-ordination25.Gas plant26.Salon for children27.Life coaching28.Ironing

29.Business center30.Cyber café31.Day care center32.Event decoration33.Facility management34.online-clothing35. Wellness center/spa36. Saw dust briquettes37. Private tutoring center38. Fashion label39.Laundry40. Poultry41. Cleaning and janitorial

ANGELA IHUNWEZESAYS

Isaiah 1v19 says if you

are willing and obedient

you shall eat the good

of the Land

THANK YOU