Top Five “C’s You Need in Putting up Your Own Company/Business

Being an employee is one thing. Being an owner or your own boss is another matter. Only a few will venture or turn out to be the latter. And for those of you thinking and re-thinking whether to put up your own Company, maybe this list will help.

Capital

Cash or capital is important, whether you’re selling goods or services. There’s the cost of purchasing goods, and operational expenses- like transport, phone and internet bills to pay for- and when you have manpower, there are salaries to think about, benefits and bonuses.

Connections

No matter what anyone says, your network of people and connections is important. Especially when starting a business, you need good references, and a good word of mouth that will speak of your reputation, credibility and know how- and great attitude

Courage

The great step of putting up a Company of your own cannot be done without courage. Stepping into an unknown and uncertain future can be daunting- and can only be done with bravery. You have to conquer the fear of how things can go wrong- and muster all the guts in you to get things rolling.

Commitment

It takes commitment to make a company linger through thick or thin, through hell and high water. Without it, everything will fall apart. There will be temptations for you to wave the white flag when things look bleak or when challenges become too much. But when you’re committed, you will stick by the Company no matter what. In the words of Shark Tank’s Mark Cuban: “Don’t start a company unless it’s an obsession of something you love. If you have an exit strategy, it’s not an obsession”.

Collection of experiences

Your experience coming from a deep background on what you’ve done over the years will definitely be helpful in carrying you through the ups and downs of your chosen venture. You just can’t rely on theories or what you read in books. These experiences, coupled with new knowledge or techniques will be beneficial as you carry your business forward.