17 mistakes not to make when you run

1. You have an idea and think you’re alone in the idea. A holder of an idea which had fears of exposing myself to her business idea was offended one day that I knew someone who had already implemented its business idea. He never returned to see me but him who had the idea in Côte d’Ivoire was really sure he was alone in Benin have lived in Côte d’Ivoire.

2. Refuse to talk about your idea for fear of being stolen from you. Personally, I do not think the theft of ideas. But there are those who really afraid of exposing their idea. The paradox is that when faced with a real customer or mystery (spy), they expose everything. A business idea needs to be validated and to this end, we must expose those who are able to validate it with you. Whatever happens, nobody will take away the key to your idea unless you’ve stolen or copied elsewhere. In this respect, it is that innovation and continuous improvement that make a difference!

3. You complain that you miss idea to undertake. True entrepreneurs never fail business idea because they always have a situation that offends them and they want to change. When one wants to change a situation that displeases and we are really determined, it never fails idea to get there. If you do not mind it because you lack vision.

4. Copy and paste the ideas of others. Profiteers? You are wrong party! Finally you can improve other people’s ideas and get better results than them. You can implement the ideas of others because you have the necessary funding. But if they are true visionaries, true enthusiasts who believe in their idea, you do not have the key: that no one steals it. You still have something to do: give a horizon ideas stolen, the integrated vision, a strategic framework;

5. Rushing because you want to become your own boss. You want to be free from the yoke of an unbeliever boss? It’s a good reason. But it is not enough. You must sell. And besides having to sell, you need to know what you sell and what it will bring unique customers. You will lose the economy of ten (10) years that a bad boss has enabled you to realize if you leave just because you think you have the financial resources now to stand on your own.

6. Being too eager to engage. “It is never too late to become a priest. If you have a vocation, you will end up becoming “says one day a cure to an aspiring too eager to say” The Lord be with you. ” That’s like entrepreneurship. It is better to take his time. If people go before you, you inspire their mistakes to do better.

7. Rushing because it works for others. You’re not the others. I do not believe in fate, but I am confident that you will never lead to the same results either in time or quality or quantity – the truth is that they have started before you!

8. You run because you have the funding. The government distributes the money through a fund of support for business promotion and youth employment. This is an opportunity to form a folder cleverly fitted well to get the funding. You yourselves know that you do not start a business. If you have your own funding, attention to excess! Perform market research, get a business plan.

9. Mount the business plan for the banker. You inflate the estimates. You do believe the banker that your project does not risk as if a child born in a world like ours there’s no risk of disease or infection. Remember the number of vaccines administered to a child when he is born. All business plans need immunity.

10. Think you do not need to study the market. Yes it’s true that customers are stupid enough to buy all the products you will offer them at the price you want. The real problem is that the client decides to much in what a company must sell. As the market is a real jungle, which can quickly turn into an ocean. It is better to be explored once before launch!

11. Think you do not need a business plan. It will take at least list the various activities undertaken, the resources you’ll need to get there, your sources of funding. Have the courage to go further in defining your goals, how you proceed, make sales, the chain of receipts and disbursements. Most people think they know where they are without a business plan. But in general they do not know what to expect.

12. Overestimate the incoming money. And meanwhile you underestimate the need for exit money. In any case, the first few months will tell you what is the true reality. But since it will be too late, ask!

13. Underestimated its expenses. Your company will get out undercapitalized and you’ll miss just money to finance the launch of your business … The best thing to do is sift through all possible expenses, contingencies and unforeseen contingencies. It is better than never being launched to run and fall so soon.

14. Programming sales for the first month. There was a time of installation. It takes time to prepare to start sales. No! you do not sell the first day.

15. Relying on sales through the first few months. It is an illusion. It is true that the length of time needed for working capital varies from one activity to another. But generally if you do not actually fund the ten (10) months, it is better not to start.

16. Refusing to join the others. There are many reasons not to join one, but there is much to do. The hardest part is knowing that associate with and why we do it. It must then clear the bases. You’re afraid of being betrayed? Note that this is what awaits you in most cases. Suppliers, employees, partners, customers and partners all betray you! It is best to prepare.

17. Refusing to take the launch. The problem is that from the second, third and fifth year (for more stamina) you will need extra money to either fly or bounce and then go step B as the Americans say . Bankers often forget very quickly that you were very fluid at home. It is better to borrow, save all seriousness, take good paying habits and use his money or his assets as collateral or back-up!

Launch

Alfred BIAOU heads a firm specializing in development and implementation of tools for managing human resources on one hand and advice and assistance in HRM other. His company is based in Benin and is also involved in the subregion of West Africa. He talks about his experience.

The term!

The management of human resources is a passion for me. Towards the end of my training in Bachelor of Business Administration, I realized that to save our businesses, we must address the primary resource and sensitive man is. So I did my first research study for my PhD on the management of human resources, specifically training. After graduating, I wanted a firm specializing in HRM in Benin, there were none at this time, I mean 1994. I finally stumbled on Mr. GERARD Agbota who was preparing to open its office in the area. Some months later it was done and spent 03 years with him to be trained in tools for managing human resources. A wonderful experience that has been germinating seed.

Seeing the difficulties of full implementation of the tools we develop the business, I decided to go into business to see the internal environment. I headed for Ecobank, one of the structures where the management of human resources was at the forefront right now. After three years Ecobank as an officer and operational framework running, I decided to experience in multinational environment anglophone.La luck, I became Director of Human Resources of British American Tobacco for three countries (BENIN , NIGER, TOGO). I had the opportunity to take care of the strategic human resources, to implement tools in HRM class. The loop is completed on the entire system of human resource management (from design tools through its alignment with the overall strategy of the company and finally by its operationalization in everyday life), I decided to realize my dream: Create an HR consulting firm to share my experience and passion with companies from Benin and the sub region.

How he mounted his own business

To be credible, it should be an LLC with partners (objectives, accountability and results), then develop a strategic plan of the Cabinet on 03 years. The human resource is very broad, I began by recruiting and assisting businesses, then the second year, I moved to temporary and third year of training. We started with a staff of 03 people, myself, an HR assistant, a secretary. The number today is 12 people. Our customers are in all sectors, but we spend more on institutions and multinationals that we know and have obligations for the sound management of human resources. The turnover has almost doubled, but we must confess that the first year was extremely difficult. I almost gave up, but with God’s grace, friends’ advice and support of my wife and shareholders, I could hang on.

The challenges he faced!

At launch, the challenges were many orders:

a. Technique: one must have a methodology, tools;

b. Commercial: it requires customers or nobody wants to serve as guinea pigs. Friends and relations have been of great help to find the early missions. These missions are well done, the rest came by itself. But I had an ambition to innovate every time and do a good job.

c. Financial: I put all my assets to create the firm: no banking institution does accompany a company that is mostly born of the board. Then, we must manage expenses and incompressible cabinet not to mention spending at the household level. It took a lot of sacrifice. I spent the money to pay the rent and pay my two colleagues sometimes. You’ve got the money out, but customers do not pay on time.

The challenges associated with the activity of a firm in HRM

The challenges are primarily technical: it must be of the profession, an expert in the field and then reach a strength of character that allows you to be a professional who respects the ethics in the field.

What motivation to start a consulting firm?

People create a cabinet to run the markets in millions. There is nothing more normal, but no market is eternal and so is the only reason I think this is not enough. The board requires great sacrifice and our market (especially in HRM) does not yet know the value of the consultant. Companies are not always willing to pay fees at the normal rate.