The Rudiments of Starting and Growing A business
The Rudiments of Starting And growing your business
Excerpt of a paper presentation at Full Gospel Business Men’s Fellowship, Asaba, Delta State under the distinguished chairmanship of Dc. Nathaniel Emiri. It is worthy of note that Her Excellency the wife of the State Governor Mrs. Edith Okowa was in attendance while I (Fredrick Okpia) presented this paper
The rudiments of starting and growing a business is vital for anyone who intends to start or grow a business that will outlive him or her. it is my sincerest prayers that you take the well-meditated vital points outlined and explained in this document very seriously.
Take note of the following;
#1 God takes Pleasure in your Prosperity
In Psalms 35:27 it is written “27 Let them shout for joy, and be glad, that favour my righteous cause: yea, let them say continually, Let the LORD be magnified, which hath pleasure in the prosperity of his servant.”
It is very clear from the above scripture that it is the will of God for all his children to prosper, to excel and be front-seaters not back-benchers. Understand therefore that it gives God maximum pleasure to see you prospers, to see you taking the lead! If that is true; then it can be inferred that it makes God sad when you are not exceling or prospering in life.
#2 It is God’s Desire that You leave goodly inheritance behind for Your children’s children.
In Proverbs 13:22, it is written “22 A good man leaveth an inheritance to his children’s children: and the wealth of the sinner is laid up for the just.”
So, the Bible is saying that the proof that you are a good man is that you leave inheritance behind for your children’s children. And it is clear that one of the inheritances you can leave behind is your Business, you cannot leave the general manager position you are currently occupying in that big company for your children.
# 3 God Prospers the Labour of your Hands – Business especially
In Psalms 1:3 it is written “And he shall be like a tree planted by the rivers of water, that bringeth forth his fruit in his season; his leaf also shall not wither; and whatsoever he doeth shall prosper.”
God specializes in prospering the work of His children, He blesses their handiwork. You understand that you need to have something doing so that God can bless it.
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#4 Starting and Growing a Business is very demanding both mentally and otherwise.
Very unpopular to so many ridiculous statements you must have heard, starting a business is not a child’s play. This is why Jesus said in Luke 14:28-29
“28 For which of you, intending to build a tower, sitteth not down first, and counteth the cost, whether he have sufficient to finish it?If the business you intend to build is a tower then you must sit down and calculate.”
This simply means if the business you intend to build is a tower (a business of global impact and recognition) then you must sit down first; to calculate somethings! To do evaluations and some permutations else you will jump in and jump out!
Therefore, what are the things to you need calculate before going into business;
# A Divine Consultation
In Genesis 1: 1, it is written “In the beginning God created the heaven and the earth.”
So, God is the one that exist before every beginning, therefore any beginning that must have useful, fruitful and successful end must begin with consulting El-Shaddai. You need to seek His face on how to go about the business. He is the creator of all things, ask Him definite questions, consult him in prayers unusual wisdom and inspiration to structure the business and wait for response from Him.
# B Decide on the kind of business to do
This is the second thing I would recommend that you do when you sit down to plan as Jesus commanded in Luke 14:28. You need to decide on the nature, type or kind of business to do. Whether to go into production, selling or products, services etc.
In Genesis 13:2 the Bible made it clear that Abraham was rich in cattle. Gold and silver; this means Abraham was into trading/business of buying and selling cattle, gold and silver. In Genesis 26:12 – Isaac sowed and reap a hundredfold harvest; Isaac was a farmer, production and farming of all kinds of crops and Jacob was shepherd raising all manners of animals. It is very crucial that you understand what you can do and settle with it.
Additionally, your overall success in business depends on this decision, many businesses fold up after few months of opening because the owner of the business does not know the business that he/she is doing, so the day the staff that knows the business resigns the business automatically shuts down. Be properly guide sir! Because if you fail here, your business will struggle until it dies.
Pointers on deciding on the right business to do
What are the things to consider on deciding on the kind of business to do?
- Consider your strength: Your strength is the primary indicator on the kind of business to do. No one succeeds outside the scope of his/her strength. To carry a load heavier than your strength is suicidal; it will break your waist, bend your ankle and turn your neck backward. Your strength is your capacity and it can come from skills, experiences, training etc. Therefore, it is foolish to invest into business that you know nothing about.
- Availability of Market: What is the share of market available for this business? Who are the kinds of people that need this service. These are some of the questions you need to ask yourself. What is the potentiality of people patronizing this products or services you are about to start selling.
- Size of Capital available for investment: Another major factor to consider before deciding on the nature of business to do is the amount of fund available for such business. Every business have a minimum financial requirement for its startup, the amount of money you need to start a buying and selling business will not handle production business; where you have to buy some machines and others equipment. Available of financial resources in the form of capital is necessary in settling for a particular kind of business. The finance might be from your personal savings, support from your spouse of family member. However, I highly discourage starting a business with a loan, Deu. 15:6 forbids Christians from borrowing; this depends on your level of faith and so it is with your business.
#C Decide on the Legal Structure of the Business
This is another important thing to meditate on when you sit down to plan the commencement of your business. Should it be a sole proprietorship, partnership or Limited Liability Company (LLC). Each of this business legal structure has it own tax pattern and others. It is strongly advisable here that as soon as you decide on the legal structure of your business, then register it with the Cooperate Affairs Commission – CAC. Also, a bank account should be opened in the business name, your bank account is your storehouse.
#D Decide on the business Recording / Account Structure:
A proper documentation and accurate recording approach is highly recommended for your business from the very start. So, it’s important that you decide on the accounting method you have to adopt for your business. Look at manual recording or electronic accounting, you may even consider combining both methods. It is wise to start a proper recording for your business from this very beginning, else you will not be able to declare a proper profit/loss. Joseph’s accountability was one of the things to distinguished him and helped him combating the famine that was eroding nations in his time, simple accountability!
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#E Decide on the Workforce
Every business regardless of the size and nature will always require a certain number of staff to commence. However, there are some businesses that will require maybe the owner and one other person to start. Essential it is pivotal that you invest into people who are going the same direction with you. So therefore, how many are the employee you need to start? Can you start alone? How much do u need to pay as salary? These questions must be dully answered.
#F Decide on the kind of marketing that will work for your kind of business.
Unarguably, marketing is the life wire of every business, you need proper marketing to grow and expand your business. Proper marketing is the miracle you need to grow your business, there it is uncommon to see business grow without proper implementation of outstanding marketing plans. Interestingly, not all marketing works for some businesses, this is why you need to decide on the nature, type and kind of marketing to pattern for your business. There are offline and online marketing; it expected that you combine the both for your business to strive and excel.
Emphatically, the growth of every business depends solely on the marketing strategies to be implemented on the business, one of the greatest prayer you need is wisdom to know the kind of marketing that will give you the desired result. Again, understand that any money spend on calculated advert is never a waste!
Types of Marketing
- Offline: this includes sharing of flyers, banners, billboards etc.
- Online: use of WhatsApp group and broadcast, Facebook account and pages, Instagram, Twitter, LinkedIn, led advert, website, e-marketing and several others 3e, Marketing is not a one time thing-
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#G Decide on sustainable growth plans for the business
There are some things to do to keep the business a life aside from the once already mentioned; these will largely depends on the nature of your business.
- Never do business without involving God
- Have a sustainable and growth plan for your business, like reinvesting into your business.
- Pay tithe and give quality offering as Christian business person