How to lay a strong business administrative foundation as a business leader.

This is what founding a business is all-about. Laying a strong foundation of your business on the immediate business is all about making thorough research, decision and conclusion, based on you ideal product, vision, business true-value, economic chain and your rewards after-all.—clarity on your ideal products, suppliers, ideal market, customers, partners and financial support sources.

No matter what your aims for starting your own business are, development of the foundation is likely to be the same. Laying of strong foundation is both mental and paper work, containing your business structural plan, and proper execution plan. This is all about checking through all the channels on which your business will be flowing to and fro every day. It gives you the ‘road-map’ to follow as you build your business. 

Reason why you must make a paper work business foundation plan is because action takes longer than thoughts or words. On the process of executing a plan you didn’t write down, you may be misled by unexpected strange occurrences. Building a business isn’t an easy task; it requires lots of sacrificial-efforts to accomplish. 

But by having a well designed road-map, it doesn’t have to be too difficult, because following the track of well planned approach to business management; you can set yourself on the path of business success.

The key is to think things through, and lay a foundation that will not be shaken when adversity threatens to destroy what you have built.

A business foundation, as I have said before is a mental and graphical institution presenting the guide or frame-work to support and direct the everyday ups and downs, twists and turns, inherent to a start-up on his way to expansion. 

The G-CAT+D.

The g-cat+d are the 5 major factors that are likely to negatively affet your business whih you need to plan ahead of, doing your best to prevent or elude them from doing that. this abbreviation stand for:

G = Government policy 

- The government can decide to do anything that may affect your business negatively,and if you aren't careful, it maybe the end of it. So decide wisely.

C = Competition

 - you aren't the only one selling your product, you only need to be outstanding.

A = Age 

- Whatever you are doing, remember that you will one day grow old, and your kind of business can determine of your audience will still be interested on you or not. 

Take hair-dressers and fashion designers for instance, young people are better.

T = Technology

 - In this tech age, a lot of works we've been doing manually are now done by ultra-modern machines, like computers, robots , and others. many businesses are in one way or the other affected by these technological improvement.

D = Disaster - There are people whose shops are swept away by floods, others engulfed by fire out-break. There are also those their busines buildings collapsed; and those that wars affected. All these unforeseen negative circumstances are things you should plan ahead against while starting a business. look it's good to wish well that it won't be your portion, but we should know that these are natural and can happen to you when you are at the position for that. Wise decisions from the right time, can prevent these things to the extreme. 

Other places to look into:

There are also listed areas you are going to pay close attention to, while laying your business foundation. Among many other things to come later-on, here are; means of transactions, easy transportation of goods and delivery of service, ideal products, ideal partner, ideal target customer and target team members.

 All above, are areas you should establish firmly to make sure they are working properly before you go on to start your business. But if any is not functioning properly, you have to fix it, before moving on. Make the consideration and preparation—keep them all very ready to start your business and keep going with them all.

Putting things factual, let’s call them by name, one by one, see them:

The ideal products

The first place you have to make a clear decision is on your ideal products. 

The reason you have to spend time making product decision is because; your product is the live-stream of your business. It says so much about it and that’s why you should pay close attention to bring it as close to perfection as it can be. Without a product, there is really no business; it is the major reason you are there. 

Your business is all about what you are selling. Not even much about the amount of money you are touching, because in the long-run, your success must be determined by your product value.

Therefore, this is an important cornerstone you have to really work on in your business foundation. Figure out what you are going to sell, by asking yourself, “What product of value am I going to offer to the word, that they will be willing to buy?” “What do I have that can tempt other people to spend their hard-earned cash to buy?”

 The answers you give to yourself are the foundational decision you have started making. When people are looking for the product you have decided to make, they are actually looking for you.

What kind of product?

Your product need to be Essential for Everyone Everyday (EEE). if you build this kind of product, nothing can stop you from moving, even the people around you, because they may directly or indirectly need your product each day. Dangote has more than 5 types of product he is making, and there is no nigerian that will say that he doesn't need any of his product each day. 

Marketing.

The effective propagation of a viable products marketing is a vital measure for achieving business success goal.

 Most great company have viable marketing strategies intentionally built into the life-blood of their businesses, which is their product, and that’s why they have achieved very great success as you can see them today.

 You should build it into your own start-up today, in order to achieve a greater success tomorrow. 

Market research, product development, identifying customer base and brand position is all functions in product marketing and they should be done way before a product will be ready to launch.

 Bringing marketing on board at the early stage can help in defining who your customer is, providing insight that impacts on products development and positioning. 

Most people can come up with a great product or service, but it’s only few that can back theirs up with proper marketing and that why many manufacturing companies fail. Most great business ideas begin to die a slow-death mostly from poor marketing, which gives birth to poor execution. 

Your team

T.E.A.M. means Together Everyone Achieve More. 

This is another target for strong foundation. When you started working on your ideas, you need people to help you build your business and get your product into the hand of paying customers.

 These people form part of your team and they will be responsible for any future success. 

For many start-up entrepreneurs, team building seems like a great practical and financial challenge. 

Some of them do not yet know how to recruit the right people at the right time. While some think that they can fill every seat in their company themselves. 

This is a mindset change that someone has to make. A devoted boss has to be delegating, deliberate, efficient and conservative. Only add those people you absolutely must have added.

 Add them when you absolutely should have to. This points at the right people; they are special condiments for your business value. 

Make sure that their skill sets is complimentary than reproach. A strong founding team that works harmoniously will contribute greatly to the success of your business. Remember that no one goes alone and come out with very successful. 

Financial section

Having a great product and willing customers to pay for it is good, but if you can’t manage your finances, that will lead you to failure. 

The financial function in your business is also another thing that can determine your future success. 

You don’t want what arose from wrong decision making and mismanagement to shut down your business in the later future. 

And not only can that, having poor financial function of your business can also make it to soon crumble. For instance, if your business is that in which every income you earn goes straight to debt payment, or to court, it has an unclear fate. 

And if your business is suffering from the burden of indebtedness or is being operated under the dark condition of unstable cash flow, that is, if people prefer buying on pledge, where you find it difficult to recover debts, your business is walking in the valley of the shadow of death. 

When finances are not well managed in your business it not only stops growing but starts to fail as well.

It all points towards your scope as a business owner— If to start and own a company is all your aim, you are going nowhere; there are chances, what you built up might come down as quickly as it went up. 

But if your intention is to build something great with the potential of tremendous growth, you need to lay the strong foundation. 

Once you laid the strong foundation, eventually, everything will start to move well when the storm hits, you and your business firm will be able to stand, survive it and move on to other things.