Entrepreneurship through the eyes of a one-time entrepreneur.

Prior to 2020, I never imagined that I could start a business. When the pandemic of 2020 struck, I knew I couldn't waste time doing nothing. First, because I had a bad phone, I couldn't do much of online earning, so I thought of what I could do. With the help of my friend who was an expert entrepreneur, I started a mini-business where I earned, and learned the foundation of entrepreneurship. I ran the business for about two years before I stopped for some personal reasons, and in hopes that I'll take it up again in the future. Even though I don't own another business yet, I strategize for other people's businesses, so, I think I have a bit of experience in the world of entrepreneurship.

When I wanted to start my business, the first thing I did was to consult my friends who were expert entrepreneurs, and the first assignment i got was to present a blueprint of the business. Actually, I had a plan, a solid one or so I thought, but I didn't plan for the uncertainties that may come along the way. "What's going to be your brand name?" One of my friends asked me and I responded with "I don't know". "Oh, that's fine. You can always think up one but in the process of choosing a name, make sure it is an easy to remember name such that your name will easily become a household name", he said. Did I achieve that? To an extent, I did. "Happy Fries" did become a household name. Funny is, I still have some people call me Happy Fries till today because the name reminds them of the beauty they consumed in my dessert world.

After finding a name for the business, the next thing I did was to curate my recipe. My products were consumables, and my target was to make the taste of every bite etched in the memory of my customers. Did I achieve that? Yes, I did after so many trials, wastes and using my friends as my tasters. With every bite was a kind of happiness that was undescribable. I portrayed my brand as one that fulfilled all their dessert needs, especially at happy occasions. So, I lived up to the name "Happy Fries".

Because I didn't have the capital to begin on a large scale and expand as much as I wished to, the growth was slow even though the publicity and marketing were on point. Chinchin and coconut candy were supposed to be the starting products to which I would expand to some others, but I didn't have much money to grow the business as I had planned. This is to tell you that capital is very important in funding your business. What options of funding are available to you? Do you have family members that can loan you some money? Do you have some savings? If not, what other alternatives are available to you?

At some point in your dealing as an entrepreneur, there are challenges that would come. My business was going fine, until the challenges set in. The major one that affected me was the rising cost of materials. Unavoidably, I increased the price of my products twice so I could remain in business. It wasn't however much of a problem because the quality of my products remained intact. In essence, choose quality over quantity always. Let your product or service speak for you.

In summary,

1. Capital is an important factor in business.
2. Surrounding yourself with good minds will help you a lot.
3. Prepare for the challenges ahead. Challenges could range from increased cost of raw materials, unfavourable government policy among others.
4. Whatever the situation is, choose quality always.
5. Sometimes, you'll cry, you'll fall, you'll fail, but it's part of the process.
6. Often times, you'll need to go back to the drawing board, and restrategize. It's still part of the journey.

There's more, however, it can't all be learnt at once. It's great to be a part of this community where I can share my experiences in the world of entrepreneurship, and also learn from experts, thanks to InLeo prompts that helped me discover this community.

This is my entry to #July InLeo prompt for today. Find the link to join the daily prompts here.

All images are mine.
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