Latest posts by John Gichia (see all)
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- Entrepreneurship Lessons From My Village Barber - October 12, 2017
“Create your job. Stop looking for the Jobs”
Well this phrase has been repeatedly said to a point it has become more of a cliché. Many young people are hence left wondering where and how to create these said jobs. They have absolutely zero idea on how and where to begin.
In my article today, I will share some tips on how to get an idea and eventually grow it until it works.
Ideas come up when you first identify mass problems and you find a way to provide solutions. It is not really about money. Ideas do not need to be great or to have come from the moon let alone be imported.
What is important is to start executing that idea that you conceive in the least expected of places. The idea eventually becomes great and the rewards start streaming in.
Procrastination of implementation of an idea is what has led to so many businesses not starting and probably contributed to the increased unemployment rates in Kenya.
After coming up with an idea take calculated risks because you will never know the outcome of your idea until you try it out.
An easy way to carry out the calculated risks is using the SWOT analysis where you identify your (Strengths, Weakness, Opportunities and Threats).
The market is essential in every business so it is crucial that you understand your market. The market could be niche (where only a few people want to consume your product) or mass (where everyone wants to consume your product.)
Capital is also essential and I will insist that capital does not have to be the liquid money. It could be the skills, the idea you have or your social network. These are enough to have you work on your idea.
Do not just come up with a product because you love it, come up with products that the consumer wants and will buy. For example if you in agribusiness do not grow lettuce because you love them, grow something like ‘managu’ which has great demand.
You also need to have a great marketing strategy. You also need to come up with a winning marketing strategy. This is partly because new products are not easily acceptable in the market. A good strategy and proper branding can easily help your products penetrate into the market.
A great idea is an idea that is viable, simple and workable not what you think is great. An idea should work for others not only for you. It is also important to note that there are no overnight millionaires and success in business is a step by step process and most importantly a learning process.
Create partnerships with a great team; network with people already in the field there is always something to learn from great team members.
Last but not least hire character! Seek for individuals who are confident, persistent, disciplined and those of high integrity. Remember that you can always build skills but not character.
With all this, together with your focus and continued research your idea is indeed workable.