Starting your own business is rewarding and challenging and can play a significant role in discipling a nation if it is done thoughtfully and prayerfully.
Trust in the Lord with all your heart and lean not on your own understanding; in all your ways submit to him, and he will make your paths straight.Proverbs 3:5-6
However, be aware that a high percentage of new businesses fail in their first 3 years of operation due to poor planning and management.
Seven Basic Steps to consider:
1 Consider your Suitability – ask yourself if you have the right skills, knowledge and experience to run a business
2 Consider your Idea – assess the merit of your business idea and determine whether people will be willing to pay money for your product or service.
3 Consider your Market – identify your target market and develop a way of attracting them.
4 Consider your Competition – research the level of competition to help determine your competitive advantage.
5 Consider your Environment – understand the internal and external factors that can have a potential impact on your business.
6 Consider your finances – determine your start-up costs, running costs and pricing strategy.
7 Consider your start-up – consider the necessary legal requirements and resources you need to start your business.