Research knowledge alone isn't enough to start a business

[DubemIfedigbo001]

Starting up a business is very challenging and for sure, it calls for proper research in the line of business to be aware of the pros, con's, theoretically possibilities and impossibilities in the business venture. Extensive researches and consultations are very much needed as a lot of facts and principles needs to be gathered. Many materials written by professionals in the field should be reviewed to gather hidden knowledge and series of one on one consultations should be conducted with practicing professionals in the business of intent. All these are very important, but I call them the science of a business venture.

Trust me, learning the science alone without learning the Act of running that business of intent will possibly crash the business and will surely lead to you being duped, taken unnecessary advantage of, most times terrible loss of capital, risk of total shutdown and in the end you start blaming village people. The act of a business model can only be learned by working in an already established firm for a period of time and being open to learning actively during your stay. Believe it or yes, there are hidden secrets in any business that no matter how much interviews you are granted, it will most likely not be mentioned. You learn them as you're constant and committed to the firm activities. These secrets are passed to you either directly or indirectly from the masters.

They teach you these things subconsciously and intentionally as situation present themselves. Just like the forum, the more you engage, the more you're enlightened and given materials of reference to boost your knowledge about bitcoin and other activities. You're surely far better in experience to start signature campaign when you've ranked up to full member. To learn a lot from these mentors, you've to be hardworking and diligent in your work. By the time they are rewarding your hard work with more work, your experience is increasing rapidly and most importantly, you're learning how to manage both the business and their client relationship approach.

As soon as these boss sees that you're an asset, they both intentionally and unintentionally expose their work ethics and secrets to you so as to help you become more useful to them. This is when you would cool down and download these knowledge as much as you can and get a chance to practice them repeatedly, master most of them and be very much prepared to set up and run your own firm in the future. It is  worth mentioning that even company owners submerge their successors into their business for a period of time before  handing over to them and retiring. This is not an easy schedule, but its surely a rewarding one. By the time you've graduated from apprenticeship or internship as you may call it, you're more than prepared to run your own firm effectively.

Additionally, you must have had some really good relationships with your boss, his friends and top clients and they turn your business partners. You can still easily go back to them for business discussion now and no longer consultations. These advantages keeps you several steps above the one that started a business venture with only the knowledge of the science of the business. You need the knowledge of the act to successfully apply the science of the business. The Act of a business is the most important aspect of running a business venture successfully.

I speak from experience, on my first attempt in fish farm business, I acted only on research, consultations, reviews and YouTube videos I watched on the business. Guess what?!, I was duped as a welcome message, the business crashed and left me in big debt, frustrated and depressed for almost a year. I am currently interning with a big and experienced person in this line of business and what I've seen prompted me to put  this piece into writing. A stitch in time they say saves nine. Learn the act and run your business successfully.

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[knowngunman]

You made some convincing point but to a large extent, I disagree with you on some areas. First of all, I will say it depends on the nature of business you intend to run. For example now, you can not expect someone who wants to run a provision business to start looking for who will mentor him/her. Sorry to hear about your experience of fish farming but believe me that was not the reason your business failed. Fish farming is known to be a risk business even for those who are expert in the system for a long time. No matter the nature of the business, you don't expect and hope too much in the first year of establishment and management. Some may fail while some may prosper. Regardless of the outcome, you'll learn the area to improve on to make the business stable. You can still work under the most successful businessman and become the worse businessman when you establish your own business.

By the way, running a business such as fish farming require more than reading and watching online videos. I believe you have learned some lessons during your first experience and you can do better now when you try it again.

[Franctoshi]

One thing is for sure, every business has a secret or code for running it, However, there are businesses you can do just by doing research and consultation, and it will go just fine if you are given the code of running it, whereas some do require both research and that experience, basically going through some trainings or spending time in that field of business to have a more profound understanding of how to run yours.
 
Out of it all, The best way to succeed in any business is to have practical experience in it, this way you can handle bad times in the running of the business, especially when the business is about to crumble because literally, every business will at some point tend to face its test of time and only the experienced ones can scale through.

[Richbased]

Trust me, learning the science alone without learning the Act of running that business of intent will possibly crash the business and will surely lead to you being duped, taken unnecessary advantage of, most times terrible loss of capital, risk of total shutdown and in the end you start blaming village people. The act of a business model can only be learned by working in an already established firm for a period of time and being open to learning actively during your stay. Believe it or yes, there are hidden secrets in any business that no matter how much interviews you are granted, it will most likely not be mentioned. You learn them as you're constant and committed to the firm activities. These secrets are passed to you either directly or indirectly from the masters.

Working with an already established firm doesn't guarantee that you will excell in that particular business as every business has it's own challenges irrespective of how learned or informed you are about that business.

There are basic technique and principles that a business requires to be able to encounter positive results. Like knowing how to interact with your customers, the location of your business, the cost of the things you are dealing on.

You might be very good in a particular business but you don't have a good interaction with people that patronize you, you will see that you may find it difficult because you're gonna scare people away due to your business approach.

Another is the location of your business, if one locate his business in an area where the demands of things he is dealing on are not much required, you will see he will find it difficult because he's going to record low patronage because people around that vicinity may not need what they sells over there and if it is also an area that doesn't have a good road network, motorist might find it difficult to access your location thereby it is going to affect the growth of your business.

Selling products more costlier than normal also scares people away from your business because they will make comparison with what others are selling their own products and when they find out you sell higher, customers will not patronize you always.

It is important for us to know that no matter how experienced you are in a business, it requires basic technique and discipline to be able to sail through in your line of business.

[Frankolala]

You made some convincing point but to a large extent, I disagree with you on some areas. First of all, I will say it depends on the nature of business you intend to run. For example now, you can not expect someone who wants to run a provision business to start looking for who will mentor him/her.

OP, is right. Even if it is a provision shop, you can't just wake up one day and say that you want to start a business that you don't know the challenges that the business will face and how to combat it, and you don't expect the business not to fail. Provision store can have a mentor in the sense that, if you look at these Igbo boys that are into business, they learn the business first for maybe 5 years and above and after they have understood everything about the business, they will have contact with the supplier that supplies their Boss, and they can run the business on their own even if their Boss is not there. This is when they will now leave their Boss, and go set up the same business on their own, such people will not easy fail in their business. It is called Apprenticeship.

This is how everyone that wants to start any business needs to learn the in and out of the business, by working in a similar business or firm, so that he will have all the insight of the business and will understand every challenge that the business is yet to face. This is because he has already started running his own business from his Boss business through the experience that he is getting from his Boss business, but the difference is that he is not the owner of the business, until he has set up his own business with his own capital.

[RockBell]

You made some convincing point but to a large extent, I disagree with you on some areas. First of all, I will say it depends on the nature of business you intend to run. For example now, you can not expect someone who wants to run a provision business to start looking for who will mentor him/her. Sorry to hear about your experience of fish farming but believe me that was not the reason your business failed. Fish farming is known to be a risk business even for those who are expert in the system for a long time. No matter the nature of the business, you don't expect and hope too much in the first year of establishment and management. Some may fail while some may prosper. Regardless of the outcome, you'll learn the area to improve on to make the business stable. You can still work under the most successful businessman and become the worse businessman when you establish your own business.

By the way, running a business such as fish farming require more than reading and watching online videos. I believe you have learned some lessons during your first experience and you can do better now when you try it again.

if it is about business sometimes mentorship is not really bad but I noticed something with Igbo people when it comes to serving and mentorship after years of service they find a way of settling their boys, and there are secrets that are shared doing that mentorship because even hausa people do mentorship for provision, from this collective data you will know that in some way it is good in any kind of business, it broadens your idea more about the business.

not only fish farming but all businesses, I have little knowledge of fish farming there is a lot to learn when you want to go into farming it because even people who have experience, still experience loss when the fish are affected, just because the first attempts fail does not mean you should give up it is natural to experience such. you will learn from does mistakes.

[DubemIfedigbo001]

you can not expect someone who wants to run a provision business to start looking for who will mentor him/her.

I will reply you with a true story. Listen carefully, when my father wanted to open a provision store in 2014, after his research and consultations, he still invited my aunt who already ran that model of business to come stay with us for almost 5 days. They surveyed the area and got a good point for his shop. Then she took my father to the market personally and showed him the kind of people he should buy from, how to gauge his purchases with respect to his shopping capital and the goods to by with respect to their  expiring dates. Taught him how to fix prices and goods arrangement. She started his credit book documentation for him and  gave him some serious warning about customers excess. She stayed for a whole day with him in the shop and watched him sell, later at night she gave him more lectures about handling customers appropriately. Provision business isn't as easy as you think, you must learn it practically even if its for just a little period of time if not, you might even end up buying expired goods for a start.

No matter the nature of the business, you don't expect and hope too much in the first year of establishment and management. Some may fail while some may prosper.

All businesses experience good and bad times, with the knowledge you've gotten from apprenticeship, you can fully understand what is happening and know practical measures to curb it early enough. Of all experiences you get, you must have learned how to manage bad times with respect to trends and situations. Now imagine you've no practical knowledge, you'll be very confused and may not even detect what's happening on time until its too late and capital possibly drained. Worse case scenario is that you may even be applying the remedy you researched that is not applicable to your locality.

[CryptopreneurBrainboss]

Additionally, you must have had some really good relationships with your boss, his friends and top clients and they turn your business partners. You can still easily go back to them for business discussion now and no longer consultations. These advantages keeps you several steps above the one that started a business venture with only the knowledge of the science of the business. You need the knowledge of the act to successfully apply the science of the business. The Act of a business is the most important aspect of running a business venture successfully.

Starting a business dey very easy but na the aspect of keeping dat business profitable na where problem come dey as not everyone can run a business successfully. Things plenty wey person supposed know for am to dey successful at running a business and research abilities na one of dem although no be everything be dat as you dun talk. Successful business owners get better customer management quality in them as if you no sabi relate with people you no go get customers. As you dey advice us to keep good relationship with our bosses clients no mean say make we go thief him clients oh before people go misunderstand am, as getting into a fight with your boss no be better way to start your business journey as him go get upper hands than you and fit set you up for failure. The communication skills wey you get go make the clients want to work with you and your boss go understand (if na better person).

Any boss wey want make you succeed no go mind you learning well from am and even taking some clients to start your own journey as him go know say your success na him success as him for future fit come learn some kind things from you as well. Before starting a business, you need get determination and interest in that business and not only doing it for the money because as an entrepreneur, time go come wey be say no profits go dey the business but na your passion go keep you going. You need know how to combine everything in their appropriate amount to get a successful business, the research go dey there, both experience, the funding, the passion and so on.

[Mr.right85]

One thing is for sure, every business has a secret or code for running it, However, there are businesses you can do just by doing research and consultation, and it will go just fine if you are given the code of running it, whereas some do require both research and that experience, basically going through some trainings or spending time in that field of business to have a more profound understanding of how to run yours.

Research can never be enough for business. I don’t say this to mean you can’t get a head start at a researched or even taught idea on a business but, you definitely need some experience to run a business something you would always learn first hand, either as you continue down the line or from a previous attachment.

This is so given the fact that, you can’t completely be taught every trick in the books and even with the most tricks available to you through teaching and other means of having the learning process handed down to you, there continues to be innovations in the business line and you have to adopt innovations of your own to easily run and track flaws within your business system.

Still, having these researches done and the codes exposed to you serves a huge purpose to your advantage.

[SOKO-DEKE]

One thing is for sure, every business has a secret or code for running it, However, there are businesses you can do just by doing research and consultation, and it will go just fine if you are given the code of running it, whereas some do require both research and that experience, basically going through some trainings or spending time in that field of business to have a more profound understanding of how to run yours.
 
Out of it all, The best way to succeed in any business is to have practical experience in it, this way you can handle bad times in the running of the business, especially when the business is about to crumble because literally, every business will at some point tend to face its test of time and only the experienced ones can scale through.

The number one basic to consider if you are interested in doing any business, the first thing is to make a baground check on the nature of business you want to start, seeking of knowledge from people that are experienced, there is more to starting a business, there are something that can not be neglected if you want to start a business talk about doing research, market survey and making proper enquiry about the whole business, so as to know the amount of profit that you earn while starting the business, does are minor things that will safe you a lot risk during the start up of that business. Failure to follow does principles will be disastrous. Best advice do your research.

[Obim34]

I've been there with the whole trial-and-error of starting a business. When I launched my little online shop, I thought I was fully prepared with all the research and theory I had done. But, honestly, nothing beats real-world experience.

This is why it is good if you don't have good knowledge of handling a particular business it's best you employ or get someone who is capable of managing the business. With time you will learn the process gradually and become good in the business. That is when you many now decide to keep the manager and run the business alone. These days it's difficult to save Capital to start a business and if you manage to have one you will take so much precaution so that you won't loss in the business or run the business down.

[Hewlet]

This is so true, starting up a business isn't as easy as most people explain theoretically, even business opportunity that if you look at it from the face appearance, might appear very simple and profiting, if you venture into it, you will notice that it isn't all that simple after all. To start up a business you will have to do your normal research possibly online, you can watch YouTube videos that does analysis on the particular business, read comments from people already in the business, join WhatsApp group and get first hand information from people in the business and even go to the market to do your own physical survey regarding the business. These will help shape your ideas and orientation about the business but until you start doing the business proper, you won't know a lot of things that are involved in the business. That's why it is advisable that when one is starting a new business, it's best to start small and grow in the business because the information you get from the outside point of view might not reflect that much when you start the business proper.

[Benedictare]

Indeed only research  knowledge cannot help you in starting a business and achieving success ,one need to be very careful and have some good qualities such as being truthful and getting quality products to deliver to your customers at any point in time, just, like in the Bitcoin forum without quality post merit will not be given to you, the same thing applicable to our various  businesses ,we should be able to do or gIve quality services  even in your apprentice or buying and selling shop or in the office that will make you grow well   

[Y3shot]

Research is not enough to make a business successful,  one of the things that normally help business to do well is experience.  When their is an experience about a particular of business it is very easy to place the business in the best form the way it is supposed to be. For a business to be successful I think attention and time needs to be giving to the business.  Doing research is not enough to make a business grow. Having a positive mindset towards a business also contribute to the growth of a business.

[rachael9385]

Research is not enough to make a business successful,  one of the things that normally help business to do well is experience.  When their is an experience about a particular of business it is very easy to place the business in the best form the way it is supposed to be. For a business to be successful I think attention and time needs to be giving to the business.  Doing research is not enough to make a business grow. Having a positive mindset towards a business also contribute to the growth of a business.

I agree that only a research knowledge isn't enough to make one grow his or her business in life but one can get little knowledge from the research, as we may know that every little thing counts if only we could bring the best out from the little we already have (already it has been quoted that one must start from somewhere before he or she will explore in anything he or she is doing).
Before someone will make a research in other to acquire some good knowledge to invest or create a business, that person must have been so committed to accumulate more knowledge that he or she can put together in other to create a better opportunities, which means he or she would not lack patience or hope (if am not mistaking).

[Doan9269]

After you might hqve seek for the knowledge in the area of your interest, make adequate and appropriate research on it, you will also need to have an experience in what you wanted to embark on, this will help you have an effective management practices and you will be able to tackle any kind of challenges that might come up your way at the course of running your business, you will also need to set a model, this will serve as your modesty, on how you will manage the business for sustainability, there are more to always keep in mind while running a business as long as you wanted to keep it on the best pedigree and reputation.

[De-Bitman]

All everyone is saying in the forum is right.. But after they most have seek for knowledge and apply for researchs... Now after starting the business can they maintain it, that's the question you have to ask yourself.  Because after starting the business and they start earning their profits the next thing that comes in their mind is how to spend the money in a hotels and Clubhouse. Instead of planning on how they will make exploit or how to grow the business.

So not everyone that goes for research and seek for knowledge knows how to maintain a business. "Who no sabi no sabi" likewise they will say (a business man will always be a business man) It's take decisions, courage and determination to move forward in anything called business.

[Makus]

Trust me, learning the science alone without learning the Act of running that business of intent will possibly crash the business and will surely lead to you being duped, taken unnecessary advantage of, most times terrible loss of capital, risk of total shutdown and in the end you start blaming village people. The act of a business model can only be learned by working in an already established firm for a period of time and being open to learning actively during your stay. Believe it or yes, there are hidden secrets in any business that no matter how much interviews you are granted, it will most likely not be mentioned. You learn them as you're constant and committed to the firm activities. These secrets are passed to you either directly or indirectly from the masters.

Op wattin you talk na true, but from the topic  "research alone nor dey enough to start up a business" I nor too support this word, actually with research knowledge person fit start up a business and even make am grow, when the person get the right mind and dey very active to learn new things. I don see plenty people wey use only research knowledge take start up business and e work well for dem. Though when I read the body of this your post, I dey understand wattin you mean by saying, experience about business before you start am naim good pass. And I support this your point, person wey get experience about something dey likely to excell pass person wey just use research knowledge, because practical better pass theory. With practical knowledge before person start up business, em don know many secret as you talk, so to manage am no go hard such person, but person wey start with research knowledge, na from when em start e go dey learn small small.

[adultcrypto]

The truth be say, we no dey take research seriously for Naija rather we learn from experience which is the hard way. No be with us e start, our people always believe say na personal experience be the koko na why continuity no dey for our agenda even for our government them. How you wan take research play? Una really know wetin research mean?

Well like I said before, no be our fault, we were taught to think mechanically,  the reason innovation no dey flourish for Naija. Na research be everything for business, science, technology and what have you. Without research data, wetin you dey do na trial by error.

[Youngkhngdiddy]

The truth be say, we no dey take research seriously for Naija rather we learn from experience which is the hard way. No be with us e start, our people always believe say na personal experience be the koko na why continuity no dey for our agenda even for our government them. How you wan take research play? Una really know wetin research mean?

Well like I said before, no be our fault, we were taught to think mechanically,  the reason innovation no dey flourish for Naija. Na research be everything for business, science, technology and what have you. Without research data, wetin you dey do na trial by error.

  Going into a business as a beginner has to be accompanied by some actions. It's not done anywhere that you venture into something you don't have any idea about what you are about to get involve in which is why a number of researches ought to be made. Market Survey, business credibility and its potentials, business space entirely to mention but a few.
   One has to go into a deep look at the business he wants to begin, check the flaws and benefits, check from other people's own and see for errors and proffer the solution to those errors in his blue print for implementation,  check for the siting, it's proximity and accessibility, transportation factors too, and then first before the aforementioned, you have background knowledge of the business space, you can't be a business man being naive and ignorant to and about a lot of things, it'll only cause you to lag behind even more than intended. Certainly business won't just boom immediately, that's why a lot of time should be given and one should expect both losses and profits. Give ample time to studying the business structure to see how best it'd serve you as a beginner, avoid heavy errors, seek guidance and advise too. It's definitely not easy to begin anything, therefore dedication is of essence too.