This is part 2 of our How to Start, Run, Grow & Fund a Business in South Africa. Please read How to Start, Run, Grow & Fund a Business in South Africa (using what you currently have) before reading this. This is part of the Starting a Business section.
What we’ll be doing: Come up with a business idea and write value proposition.
Choosing the right business at the right times that suits you is crucial for success.
First and foremost you need to come up with a business that you would like to start and then you will test if that business is right for you and if there is actually a market for your business idea. This is what you will use to write the “Value Proposition” part of your business plan – A one-sentence description about your business.
Question to answer: What value will your business bring to your customers? What are you going to do?
If you have no idea what business you would like to start you can use the khoi.biz network – Khoi Capital, Side Business, Niche Business, Luxury Business, Township.biz to come up with a buysiness idea or you can ask the khoi.biz community “Business Idea Generation” section. Where you will have to share some details about yourself for the community. You would need to provide the following information:
Who are you (employment status, age, dependants, personality type, anything relevant)
What do you know (skills, talents)
Who do you know
Always remember our context, and remember this project is about practical business ideas not pie in the sky dreams.
Next up is Writing the Business Plan