A young man once approached me with a business concept asking for funding. I gave this young man an opportunity to present a business proposal, how much he needs and a breakdown of how he would use the money.
The young man requested for $4800.00 and here was the breakdown.
- Four office tables.
- Four executive chairs.
- Eight visitors chairs.
- One Printer.
- Two laptops.
- Two Desktop computers.
When I looked at the breakdown I noticed that in the mind of this young man, he sees a fully operational company that he wants to start.
There was no any budget for the real business plan because to me the above list is just cosmetic part of the business not the real business.
This young man wanted to start a Digital advertising company and branding. However, the problem in his Approach was he wanted to start his business based on nice presentation and good looking offices.
I said to him, nice furniture will not bring you business. What you need is to grow your idea. Start working from home on your laptop and your mobile phone. With just data bundles to access internet, you are good to go. Then as the business grows you will buy the best office furniture of your dream.
The young man was very disappointed and said, “so, you just don’t want to help me?” His idea didn’t work for me. He was very angry with me to an extent of blocking me on Facebook, Instagram and WhatsApp.
This is what many people think. They focus on petty issues, ignoring the major fact in business that you can start from nothing.
For most people looking for funding, it’s not that the funding will go directly to their idea, instead, the funding will mainly be used to upgrade life status, which is wrong. People have a mindset and a concept of wanting to be big. They hope that if they become big, they will have influence and then get the business. Yet this works the other way round.
Get a good sounding business idea, implement it, bring results and glory will follow you.
Check out my example how I started,
Buying and selling of vegetables – farm worker – Herdboy – construction employee – Company CEO and now a recognized person.
Yes I am not saying every person should go through the same stages like I did while starting business but I am trying to demonstrate a humble beginning.
You can not start on top. Be prepared to start from nothing and build your empire brick by brick.
By B. Marambire
- Meet Barnabas Marambire Former Herdboy Who Now Owns Company Hiring Over 200 People
- Why It’s Important To Develop Strong Financial Discipline In Business
- Why It’s Important To Understand Your Profit Margin In Business
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