The easy parts and hard parts about building a business

There might be a million things to do every day with regards to building a business, however… at its core. Business is not so complicated.

A lot of Entrepreneurs (myself included), can easily explain their business model in like 10 lines of text. Nothing complicated.

The core of business is about fulfilling a need; solving a problem people know that they have.

The hard part is execution.

Making money is easy, the hard part is figuring out how to consistently keep making the money and how to scale up your operations, so that you can consistently be making more money.

That is why for long term success, we have to commit to 2 things: a vision and consistent capacity development.

You can never grow your business and make money beyond the scope of your vision and the amount of capacity you have developed.

It is simply impossible to do so.

You need to start to exist for reasons beyond making money so that you will not starve to death (spoiler alert: you do not need to start a business to survive). When people dabble into business building without a vision, they do not succeed in the long term.

They may make some money, even millions in business, but without that overall vision driving them, things eventually stall and the downward spiral begins.

A related issue is building capacity.

Some people’s mind can simply not handle anything serious.

The first time I started thinking about making millions from my business, I realised back then that it would be hard to maintain and service so many customers if I was serious about scaling my business into millions.

It is simply a lot of work.

Some people only have the capacity to run a multi-thousand naira business, nothing more.

A few have developed the capacity to run business in millions. They can handle it.

Good news is that anybody can decide to develop this capacity to handle serious things if they care to do so.

Going forward, as technology closes the gap and wipes out a lot of jobs, it becomes more and more important for you to develop a vision and the capacity to build it out on a large scale.

You cannot continue to play small for too long.

The formula for running a business is easy, but getting it done is hard. You need to get to work now.

Interested in building innovative business ideas?

Since 2014, #TMP has been empowering people to learn, collaborate & build out innovative business ideas. #TMP is an online innovation hub.
Sign up today and get access to our private community of innovators.