It is likely that many people begin each year saying “Okay, this is the year I am going to start a business”, but end up not seeing that goal through because starting a business requires a lot, and one must undergo periods of extended self-reflection to find a business idea that’s both realistic and viable. But how can we overcome the fear of starting, and what are the steps to starting a business? The first thing to know when starting a business, is that there’s really never a bad time to launch a business. It is understandable why it’s smart to launch in strong economic times, but launching in tough or uncertain economic times can be just as smart. Along the way, people encounter different roadblocks, says Innocent Bahizi, a Kigali-based business worker. Some find starting something overwhelming in the belief that they have to start from scratch and come up with something new, Bahizi says. “The issue should not be coming up with something that no one has ever heard of before, rather, tackle the question of improvement, better delivery or coming up with a new market,” he notes. Getting ideas Before overcoming the fear of starting, here are some examples of how someone can get ideas on which business to start. Many years ago, there weren’t many fast-food restaurants in the California business area. Most were across town, where neighbourhoods were. Two young men found this situation very frustrating. There weren’t many affordable choices. One day, as they were talking about the problem, they decided to start a food delivery business. So while these young entrepreneurs initially thought they were responding to a personal need in their local area, they actually struck a universal chord and to date, their business has served more than 15 million people! That is one way to get ideas—listening to your own or someone else’s frustrations. Then, legend has it that when Reed Hastings got a $40 charge for an overdue Apollo 13 video rental, he got an idea. Hastings, together with co-founder Marc Randolph went on to revolutionise how the world is entertained, with Netflix, the world’s leading streaming entertainment service. From its start in 1997, Netflix has grown into a powerful brand with revenues topping $1.3 billion. Desire Habarurema, a forex exchange businessman encourages beginners to customise an idea to the times. “When having a new idea, add your own creativity to any concept. In fact, it isn’t a choice, it’s a necessity if you want your business to be successful. You can’t just take an idea, plop it down and say ‘OK, this is it’, you need an innovation,” he explains. “Another good way to determine whether your idea will succeed in your community is to talk to people you know; co-workers and colleagues, family and neighbours,” he adds. Celine Joyeuse Mbabazi, a business student, believes that business start-up isn’t rocket science. “It is not that easy, but again it is not as scary a process as many people think, it’s a step-by-step, common-sense procedure. So take it one step at a time and the rest will follow,” she says. “Keep in mind that a number of people will discourage you from pursuing your entrepreneurial journey, but do not allow these naysayers to dissuade you and stop your journey before it even begins,” she adds. Mbabazi also says that the most important trait you need as an entrepreneur is perseverance. Not everything will work out for you, but don’t take it personally, go beyond that and move on to the next level. “The most general excuse people keep recycling is the risk. Many people will tell you how starting a business is risky, but what in life isn’t,” she questions. “There is a clear difference between foolish risks and calculated ones. As long as one moves on, the risk is always mitigated.”
