Hello citizens.
I am thinking of writing a series of posts showing a step by step guide to starting a business in kenya. The series is titled, 'From concept to business,'. In this series I will pick an idea and take it through all the stages it requires to become a fully fledged business including solutions to some of the common problems that we face as entrepreneurs.
If you love business and you have no idea where to start, this will be a good opportunity to learn about some of the things that you need to get done before your business can get off its feet. I am no real expert in business but I have a lot of personal experiences and I believe that this blog will be helpful in showing you some of the mistakes I've made along the way. Avoiding them wouldn't hurt.
I'm calling to all who read this blog to submit ideas about what I should include in the series, business issues that you would love to see me examine and any contribution that you may have. I want this to be the most interactive business lesson yet.
Now for the cream on the pie, I am holding my own sponsored competition for the best business idea. Submit your ideas as comments on this blog and I shall pick the best. This is the idea that I will take through the stages from conceptualisation to realisation as a business. If your idea gets picked, you will have the opportunity to get the most detailed plans and advice on the best way to proceed from me and the experts that I shall consulting.
Share this post everywhere and lets get the ideas rolling.
Hey, thinking of starting up an intergrated farming system of fish farms and agriculture.The land is available and was thinking of applying for the youth development enterprise fund loan for the start up capital with a group comprising like minded persons. Any advice?
ReplyDeleteHey. The youth fund gives an initial loan of Ksh.50,000 for qualifying business ideas. If your group is able to repay this initial amount, you can apply for additional funding depending on your capital requirements.
DeleteMy advice is for you to evaluate the business in terms of the idea, the market, the way you will organise production and deliver it to the market, your competitors and the competitive strategy you will you will use to acquire customers and to lock them to your product and finally the financials.
Start the financials by an analysis of your capital requirement with a detailed account of how every amount will be utilised. Then move on to the projected sales, costs and thus the profits. From these you and can justify your capital requirement and adjust it if you need more money. Plus make sure that your partners are all on the same page. The hugest cause of failure in partnerships is the lack of a structured decision-making mechanism.