THE KEYS TO STARTING A SUCCESSFUL BUSINESS-PART 1

THE KEYS TO STARTING A SUCCESSFUL BUSINESS-PART 1

Transcripts from Radio Business School-9^th July 2012

Good morning listeners, you are welcome to yet another exciting edition of Radio Business School, a business coaching and enterprise development session designed to enable you start and manage your business successfully. My name is BASOLA VICTOR and I am your host on this programme.

Last week on the maiden broadcast of this programme, I gave you 4 reasons why you should start your own business. I said;

1.   The wealthiest men in the world are Entrepreneurs

2.   Entrepreneurship enables you to leave a legacy for your children,

3.   Entrepreneurship allows you top tap into your unique gifts and talents

4.   God commanded us to be entrepreneurs

Today, I will begin a series titled “THE KEYS TO STARTING A SUCESSFUL BUSINESS”.

When you have the right keys, you do not waste your time at the door, the door of business success will open to you. The door of business success does not have respect for age nor academic degrees. Even an illiterate with the right key can open it. It is amazing to note that the wealthiest men in the world today, most of them did not completely pass through the four walls of the University system. Those who passed through are in businesses completely different from what they learnt in school. While others are complaining of the harsh and unfavourable business conditions in Nigeria, some other folks have started and built successful businesses in different sectors of the country. THIS IS SIMPLY BECAUSE, they have skills.

This morning I will show you the first key and I want you to write it down.

Key 1: CHOOSE A BUSINESS THAT ALLOWS YOU TO DO WHAT YOU LOVE;

This is one of the most important business secrets you will ever know. According to Harvey Mackay “if you can find what you love and then do it, you will never work again the rest of your life”. High Achievers in business have a number of things in common. First they have passion for their work and a strong belief in its value. This gives them the enthusiasm to work everyday and the zeal to persist no matter what happens.

Choosing a business because of the profit potential alone is usually self-defeating. If you dislike the work you will lack the internal drive. It is your passion for your chosen line of business that keeps you awake while others are sleeping, capital or assets can enhance your passion but cannot replace it. There is something exciting about doing business that allows you to do what you love; you will not only be enjoying yourself, you will be getting paid for doing so.

THE QUESTION I WILL LIKIE TO ASK YOU TODAY IS;

1)   What do you love, what are you passionate about?

2)   What gives you joy?

3)   What is your profitable passion

4)   What can you talk about or study endlessly without getting bored?

5)   What angers you or gets you angry when it is not done right?

6)   What causes your bowels of compassion to flow?

You might communize them and call them hobbies; I call them ‘profitable passion’. One day I discovered that this business secret by Divine Inspiration while by the river side watching a fish swim, I call it the FISH MODEL OF ENTREPRENEURSHIP^(R) You will not find this model in any book any where in the world, so listen attentively; While I was observing the fish swim, I discovered five things I call models;

1)   THE FISH CAN SWIM NATURALLY. He was created to swim and does not struggle to swim, he swims effortlessly

2)   HE ENJOYS SWIMMING. He can swim continuously even without money

3)   HE REMAINS IN HIS NATURAL HABITAT. He knows he cannot survive outside it. He would die if he stops swimming.

4)   HE STARTED A SWIMMING SCHOOL TO TEACH OTHER ANIMALS HOW TO SWIM

If you could pattern your business idea after this model, you will discover that you have successfully placed your foot on the first rung on the ladder of business success. There is a profound business principle I found in the scripture, it states “For where your treasure is, there your heart will be also”. From mathematics I learnt that if A=B; then B=A Therefore where your heart is, there is your treasure also. If your heart is not in what you do, you cannot excel in it. You cannot successfully market what you do not love and this result’s in poor sales. PASSION IS CONTAGIOUS. If you do not love what you are selling, of course you should not expect another person to love it enough to buy it from you. If you do not love what you do, you talk poorly about it and marketing becomes miserable to you.

Another important thing about doing a business that allows you to do what you love is; you can only develop yourself truly in that area. You can easily learn more in your area of passion. The more you know the more you earn and the more you grow. Knowledge is what you know that gives you an edge over others. It gives you an edge over your competitors. If you love it, you will want to know more about it and when you know more about it you can earn more. Your creativity is unleashed when you find what you love! We are all created with certain things, activities we love and enjoy doing according to Martha Sinetar ‘DO WHAT YOU LOVE, THE MONEY WILL FOLLOW’.

Basola Victor is the Principal Consultant/CEO of Business Skills Africa Limited, an Enterprise consulting firm based in Benin, Nigeria. He is the Author of “The Keys to Starting a Successful Business” and The HOST of RADIO BUSINESS SCHOOL on Radio Nigeria Bronze 101.5FM.