Starting a successful business is possible at any age

Brian Mhlanga | Lecturer | Leadership Development Practitioner | DEI Facilitator | Omanga Consulting | mail me |

In South Africa, youth unemployment is a serious problem. Currently, 49.9 percent of young people are without work. This is deeply concerning, especially considering that the youth are the future of our economy.

As much as we need the government and private sector to support young people, we also have the power to drive change ourselves. One way to do this is by starting a successful business.

We have seen a massive rise in small businesses across the country. However, for young people to benefit from entrepreneurship and build businesses with the staying power to break the unemployment cycle, they need the right tools.

Below are tips on where to begin when starting a successful business and how to empower yourself as a budding entrepreneur:

• An entrepreneurial mindset

We all have talents that can be turned into income. It is important to discover what you can offer others in exchange for value.

Use your unique gifts to build a business you care about. That is the first step toward starting a successful business. You must also inspire others to pay for something only you can provide.

• Create a business plan

Once you have identified your passion, consider how your business will operate. Write a detailed plan that outlines your vision clearly.

This plan should also include the structure of your business, your values, your goals and your target market. When you know exactly what your business stands for, it becomes much easier to communicate it to potential customers.

• Get your financials in order

We go into business to earn a living and create wealth. To make that happen, you must understand the financial side of your business.

Determine how much money is needed to start, sustain and grow the business. Prepare financial projections and cash flow documents so that you can see the full picture of your business’s financial health. If you are unsure, ask for help. Speak to someone you trust who has experience running a business or who has strong knowledge in finance.

• Market your business

Social media is a powerful and accessible marketing tool. When used correctly, it can help you reach and build your audience.

Engage directly with potential customers on these platforms. You can even use social media to raise funds and support your business goals. Do not hesitate to contact companies that assist small businesses. Many offer funding or practical advice.

• Believe in yourself

Starting a successful business is not easy. But with patience and passion, it becomes a powerful way to take control of your future and help others along the way.

There is nothing you cannot achieve if you believe in your ability to succeed. You have the power to change your life and make a difference in your community by building something that only you can offer.

So take that first step. Starting a successful business may be the beginning of a much brighter future.