Misconceptions In Business (1)

Business is tough. Its hard. And it is not for everyone. You can't blame a lot of people for accepting to sit down with day to day office jobs. At least they have a certain level of security than those of us who venture into business.

But then, a successful business man or woman, after failing a thousand times before getting it right, ends up more secured financially, than those who settle for salaries. Because of the above, a lot of people now jump into business without really deciding what they want and how they intend to grow.

These people, due to lack of experience and little research, have certain misconceptions about business. And one of those misconceptions is that:

 A successful business must make profit right from the first day.

If your business makes profits on the first day, you're a thief, not a business man/woman.

A business man knows that successful businesses place their focus on long-term growth. You grow your customer base month after month through interaction with customers, slash in prices, gift items, solid customer care and wonderful service delivery. You may not even make money, let alone profits, for a while.

I once taught in a very big school where the proprietress never stopped sharing her success story with the teachers or students.

She started out in a small bungalow and had just three Kindergarten pupils. The parents of these pupils hardly paid school fees. In fact, they felt they were helping the woman by bringing their children to the school and she should be grateful enough for that. She struggled to pay her worker, one secretary. Even the rent for the school building was not easy to come by. But she knew what she wanted. She knew what she pictured and she knew it would take sometime to grow into it. Today, her school is one of the biggest in Benin City. She has thousands of students in her nursery and primary section alone, the secondary section has another thousands. She acquired lands and built beautiful structures on them for her students. She has over 500 staffs, including teachers, cleaners, administrative staffs, medical staffs at the sick bay, bookshop sales personel staff, security men etc and she pays them comfortably.

If she had given up because of the earlier challenges she faced, she would have regretted. Looking back now, she constantly celebrates her success and even aims higher.

That aside, let us look at companies like Facebook, Twitter, Nairaland, Linda Ikeji's blog, Google, Wattpad, Amazon, Okadabooks and a host of others.

It is well known that Facebook didn't make any good profit until so many years after launch. Today Mark Zukerberg and his team are multi-billionaires.

Okadabooks started small. Its founder, Ofili Okechuckwu, spent his personal money to keep the platform going. There was no profit. Even getting the capital was hard. However, through hardwork and determination, the company has climbed to a certain height and is still growing as it is almost hitting 100,000 users. The team at Okadabooks work round the clock to ensure the continued progress of the company. In a few more months, surely before the end of next year, don't be surprised to see millions of users on the platform and climbing.

So please, do away with that misconception about instant growth and profits. True, times are hard. But does that mean we should give up on our long term dreams? No. Take your time to grow your business. See what is trending in your chosen field and apply it to your business. The money won't be instant, but when it comes, it will sweep you off your feet.

We will take on the part two of this post by tomorrow morning.

Good morning everyone. I wish you a great week ahead.