Home » News » Business » Entrepreneurship » What Building A Company Means!
what Building a company means

What Building A Company Means!

Building a company seems a very simple term but that is what most people who want to become successful entrepreneurs must ask themselves.

More often the question that people ask me is, I want to start a business, where and how should I start.

That’s the fundamental aspect that one needs to understand first. What does the term Building a company means? Have you ever heard some people say all what you see in that organization, I was the master brains behind it.

Right, this is my understanding. Build a company means putting together internal structures in an organization that are well structured in a way that a certain idea or a mission can be accomplished.

To be a successful entrepreneur who can build a sustainable business which can run and be recognized, you need to able to build up internal structures of your organization.

As usual I always teach using examples based on my personal experience. When I started Barmlo, we were just the two of us. But being just 2 people in the company did not stopped me from building internal structures. I build up operational structures to develop the company to be able to grow and pay more people, we were just hiring people to fit in positions that were already existing.

I wrote in my business proposal that in my company I will need to buy vehicles to deliver building materials and bricks, so the position for drivers were created. I knew that I will need an accountant to help to do our company accounts and the position was created, I know that one day we will need an HR Manager, security etc.

But when these positions were created, the company was too small at a time to hire more people. The few people who were in the organization were doing other tusks for those positions.

For example my brother was doing sales, dispatch, goods receiving and security job while I was doing Procurement, advertising, driving, delivering, administration, accounting, HR, that is preparing wages and salaries. Yes we were both on salaries.

So those positions were already there and we acknowledged their existence. So as our organization was growing, we would employ suitable candidates for a particular position. This was done one step at a time. From two employees to three, from three to five until the company employed hundreds of people today.

To me this is my understanding of building up an organization. We can not ignore things like branding in the process. We established a logo when our company was just a month old. Paper work such as tax clearance, bank accounts, operating license and all other statutory requirements as per government regulations.

That is part of building an organization which can not be ignored. Yes it’s a process that requires knowledge. If you fail in those requirements that’s when you will see your business fail. Either close due to tax penalties or forced to close by authorities due to failure to meet your business requirements as per law.

People often become very angry with the authorities when forced to close due to failure to meet the requirements and hide behind the usual reason that they didn’t know. Not knowing considered ignorant. It is your responsibility to research for information.

When I started my company I didn’t know everything. I survived by asking and researching. You should be willing to pay experts to help you in various aspects of your business. How to remit tax, how to deal with employees or hiring and recruiting.

How to treat employees as per law. There are a lot of things one needs to know about running a business. Yes some of the things you learn as you go. You can’t know everything at once. It’s a process. That’s why you will need a mentor. That way it becomes easier to get instructions from someone who is experienced.

This topic is very broad. I will try to see if we may create series but inform of a discussion panel where people would be able to ask questions. May be a Facebook live where we can interact.

If one can master on this aspect definitely the business will prosper. Stay blessed and keep focused.

Check also;

This is not a Paywall, but Newslex Point's journalism consumes a lot of time, hard-work and money. That's why we're kindly requesting you to support us in anyway they can, for as little as $1 or more, you can support us .

Please use the button below to contribute to Newslex Point, Inc. using a credit card or via PayPal.

Donate Button with Credit Cards




About lukwago J

Posted by LUKWAGO. J: He's a writer, editor, blogger, affiliate and a web developer, he loves thinking creatively and finding new ways to implement different programming ideas.

Check Also

young entrepreneurs

Young Entrepreneurs Want Internet Tax Scrapped

Young entrepreneurs who own small and mediums enterprises have demanded that government scraps Internet tax ...