Setting up a side business, even when you feel safe with your current employment is fast becoming a norm in Nigeria. This is due to the fact that your work is never safe when you are an employee of somebody.
In Nigeria and any part of the world, the case is only different for government workers.
Economic recession and increasing cost of living have made most professional to take the idea of running an adjacent company, but most have found this quest unpalatable.
In an economy like Nigeria, the reason for starting a side business is not only due to insecurity but having a bit of insurance about the future is necessary.
If you have never thought of one, please start the process of launching a small based on your own creativity, passion and experience which can be a source of self-assurance in the case of an unexpected situation.
Want to learn how to achieve that? Consider this points.
1. Choose a business related to your passion
Since it is a side business, it is wise you consider something you enjoy doing at your spare time. This means you will be earning money while relaxing.
This could be writing, dancing or teaching. Find a way of making something worth spending your time on.
There are a lot of businesses in Nigeria that requires a freelance worker or staff. In recent time, I friends who have received offers to work as a freelance worker for the organisation for specific numbers of days in a week.
Hence, sit down to detect this passion as you won’t see it as work.
2. Have a plan for the business
After identifying the business area, take the time to have a plan for the business or activity.
Doing this is as important as the first task. If it is a business you consider setting up, please have a comprehensive business plan or abridged feasibility for it. This would help you to have a better picture of what you are venturing into.
Also, a freelance role in another should be structured towards achieving a specific goal either to have a better understanding of the task or develop an expertise for future purpose.
The hallmark is for you to have where you are going or what you seek to achieve with either.
If your decision is skill development through freelancing, step 3 and 4 would mean a future activity for you. Concentrate on making a name through your freelance activity.
3. Outsource some tasks/functions
Since in step 2, you would have developed a growth path for the business. Thus, ensure you consider outsourcing major task activities of the business.
You may never have the time to perfectly perform these tasks.
By outsourcing, you will also be running the business like a C-suite corporation where you will serve as Chief Possibility Officer (CPO) with the more supervisory role.
4. Leverage technology
Lastly, considering running the business through technology. It will a total disaster operating on analogue operational mode.
For instance, you can use MailChimp as your email marketing tool. With it, you can send specific product information to targeted audience.
In a world of social media, Facebook, Twitter and Instagram are platforms where you can execute you business operation – advertise your business, get customers, take orders and collate feedbacks about you services/products.
In conclusion, once you have a perfect idea start it. You should consider starting small as the foundation for your dream business empire.
You never need to quit your current paid job. You never need to.
Tips courtesy BusinessInsider
Frontpage October 22, 2019