Understand the Commitment and Challenges Involved in Starting a Business

Now that you are settled on your idea, you know what you want to sell or what service you want to provide, and it is time to imagine your business from A to Z. Writing with as many details as possible what your business is, how it will function and why it will be successful will first help you be convinced of the viability of what you are undertaking, but also convince investors.

TIPS

• Have a clear business plan: A business plan is a roadmap that defines the core of your business, its objective and how you are planning to reach them. In short, it is the solid foundation of your business that helps you realize what needs to be done. We will give you more detailed help to develop your business plan in Modules 5 and 6 but for now, just know that you must know exactly what your business is about.
• Get organized: When you have a million to-dos in mind, you will quickly drown under tasks if you don’t optimize your schedule and manage your time effectively. Being organized is the key to doing many things at the same time, so use a calendar, write down you goals and what needs to be done, download a work management tool, clean your desk, and sort your files. Organization will help you always be on top of things and always think a step ahead.
• Be patient: Rome wasn’t built in a day and your enterprise won’t be either. Creating a business isn’t a question of months, it is a question of years. You will most likely not be profitable the first year and this completely normal.
• Be consistent: Being an entrepreneur is not easy, you need to be willing to do hard work. Remember to love what you do and to enjoy the trip, not only the destination.