Let me start by appreciating the fact that businesses tend to be ineffective and unprofitable when certain requirements are not satisfied. Not until these requirements are met, business tends to remain on a spot as far as progress is concerned generally. Hence, to make your business effective and to meet up your set up goals and objectives, certain basic requirements must be met. I want us to clearfully examine Seven Basic Business Requirements. Here we go!
1. Your Attention.
As a sole proprietor, your business demands your whole attention if you really want your business objectives and goals achieved. You have got to commit not only your equity (capital investment), but also your whole self. Attention basically comprises of three factors which include:
i. Skills and Expertise. All you have got in terms of intellectual capacity or property as some will say, is required by your business.
ii. Time. All your time have to be alloted to your business if you want progress otherwise, little trends would be visible.
iii. Resources. Apart from your initial capital, you have to commit more of your personal resources to your business as every business is resources demanding- pleas bear this in mind.
1. Your Attention.
As a sole proprietor, your business demands your whole attention if you really want your business objectives and goals achieved. You have got to commit not only your equity (capital investment), but also your whole self. Attention basically comprises of three factors which include:
i. Skills and Expertise. All you have got in terms of intellectual capacity or property as some will say, is required by your business.
ii. Time. All your time have to be alloted to your business if you want progress otherwise, little trends would be visible.
iii. Resources. Apart from your initial capital, you have to commit more of your personal resources to your business as every business is resources demanding- pleas bear this in mind.
