Question of the Day

The Advice Column

Today’s Question: How do I build a business?

We all have dreamed about starting our own businesses. Today let me help you get to that dream.

• The first step is to identify a need or problem in the market. The best business ideas are the ones that offer solutions to real-life problems. Try asking people around you about their day-to-day problems.

• The next step is to select a problem that matches your skill set. Often times we try to solve the wrong problem. If the problem isn’t something you are passionate about solving, then you haven’t reached the right idea yet.

• The next challenge you will face is getting your capital ready. The best way is to save up before you start a business. Loans are not the best option unless you are entirely sure of your idea.

• You need to remember that you can’t do this all alone. Eventually, you need to look out for a talented team. Keep your team size small but efficient.

• From personal experience, I suggest to always start out with a business partner who has the skill sets you lack. Learning from each other and doubling down on your strengths is your best bet.

Hope this helps. Always remember that ideas are nothing without execution. Good luck.

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