{"id":14913,"date":"2022-10-23T01:20:13","date_gmt":"2022-10-22T22:20:13","guid":{"rendered":"https:\/\/finstockevarsity.com\/resources\/?p=14913"},"modified":"2026-08-23T02:52:59","modified_gmt":"2026-08-22T23:52:59","slug":"5-must-have-things-before-becoming-an-entrepreneur","status":"publish","type":"post","link":"https:\/\/finstockevarsity.com\/resources\/5-must-have-things-before-becoming-an-entrepreneur\/","title":{"rendered":"5 Must have Things Before Becoming An Entrepreneur."},"content":{"rendered":"<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div>\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Starting a business can look exciting from the outside. You see people building brands, selling products online, opening shops, creating apps, or turning a small idea into a serious source of income. But behind every successful entrepreneur is preparation that is not always visible on social media.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" width=\"580\" height=\"406\" src=\"https:\/\/i0.wp.com\/finstockevarsity.com\/resources\/wp-content\/uploads\/2022\/10\/image-12.png?resize=580%2C406&#038;ssl=1\" alt=\"\" class=\"wp-image-44212\" srcset=\"https:\/\/i0.wp.com\/finstockevarsity.com\/resources\/wp-content\/uploads\/2022\/10\/image-12.png?w=580&amp;ssl=1 580w, https:\/\/i0.wp.com\/finstockevarsity.com\/resources\/wp-content\/uploads\/2022\/10\/image-12.png?resize=300%2C210&amp;ssl=1 300w\" sizes=\"(max-width: 580px) 100vw, 580px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">In Kenya,&nbsp;<a href=\"https:\/\/finstockevarsity.com\/programs\/college\/short-courses\/business-and-strategic-management\/frbe\/\" target=\"_blank\" rel=\"noreferrer noopener\">entrepreneurship<\/a>&nbsp;is becoming an increasingly attractive path for young people, professionals, and anyone looking for greater control over their income and career. Still, having a business idea is only the beginning. Before becoming an&nbsp;<a href=\"https:\/\/finstockevarsity.com\/programs\/college\/short-courses\/business-and-strategic-management\/frbe\/\" target=\"_blank\" rel=\"noreferrer noopener\">entrepreneur<\/a>, you need the right mindset, practical skills, financial discipline, a clear understanding of your customers, and the patience to keep learning.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So, what should you have before taking that first&nbsp;serious step? Here are five things every entrepreneur should prepare before committing fully to the journey.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What mindset should an entrepreneur have before&nbsp;starting&nbsp;a business?<\/strong>&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The first thing you need is the right mindset.&nbsp;An&nbsp;<a href=\"https:\/\/finstockevarsity.com\/programs\/college\/short-courses\/business-and-strategic-management\/frbe\/\" target=\"_blank\" rel=\"noreferrer noopener\">entrepreneur<\/a>&nbsp;must understand that business is not simply about making money quickly. It involves solving problems, serving customers, handling uncertainty, making decisions, and learning from mistakes.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A strong entrepreneur is willing to start small and improve gradually. You may begin with a few customers, limited capital, or a simple product. That does not mean the idea cannot grow. Many businesses become stronger because their owners listen to customers, test their ideas,&nbsp;identify&nbsp;weaknesses, and improve consistently.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You also need resilience. There will be days when sales are slow, a customer&nbsp;complains, a supplier delays an order, or an idea does not work as expected. Instead of treating every setback as failure, an entrepreneur should treat challenges as feedback.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Another important part of the mindset is responsibility. When you run a business, there may not be someone constantly reminding you to complete tasks. You&nbsp;have to&nbsp;manage your time, follow up with clients, keep records, and make decisions even when you are not feeling motivated.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Most importantly, avoid the idea that&nbsp;<a href=\"https:\/\/finstockevarsity.com\/programs\/college\/short-courses\/business-and-strategic-management\/frbe\/\" target=\"_blank\" rel=\"noreferrer noopener\">entrepreneurship<\/a>&nbsp;is an overnight success story. Social media can make business growth look instant, but sustainable success usually comes from consistent work&nbsp;over time.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What financial preparation does an entrepreneur need?<\/strong>&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Money is one of the biggest areas where new businesses struggle. You do not necessarily need a huge amount of capital to begin, but you need to understand how money will move through the business.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Before starting, calculate your expected startup costs. These could include stock, equipment,&nbsp;licences, transport, packaging, marketing, internet costs, software, rent, or other operating expenses depending on your business.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-recalc-dims=\"1\" decoding=\"async\" width=\"729\" height=\"411\" src=\"https:\/\/i0.wp.com\/finstockevarsity.com\/resources\/wp-content\/uploads\/2022\/10\/image-14.png?resize=729%2C411&#038;ssl=1\" alt=\"\" class=\"wp-image-44214\" srcset=\"https:\/\/i0.wp.com\/finstockevarsity.com\/resources\/wp-content\/uploads\/2022\/10\/image-14.png?w=729&amp;ssl=1 729w, https:\/\/i0.wp.com\/finstockevarsity.com\/resources\/wp-content\/uploads\/2022\/10\/image-14.png?resize=600%2C338&amp;ssl=1 600w, https:\/\/i0.wp.com\/finstockevarsity.com\/resources\/wp-content\/uploads\/2022\/10\/image-14.png?resize=300%2C169&amp;ssl=1 300w\" sizes=\"(max-width: 729px) 100vw, 729px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">An&nbsp;<a href=\"https:\/\/finstockevarsity.com\/programs\/college\/short-courses\/business-and-strategic-management\/frbe\/\" target=\"_blank\" rel=\"noreferrer noopener\">entrepreneur s<\/a>hould also separate personal money from business money as early as possible. Even if you are&nbsp;operating&nbsp;on a small scale, keeping separate records makes it easier to know whether the business is&nbsp;actually making&nbsp;a profit.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Learn basic financial concepts such as revenue, expenses, profit, cash flow, pricing, and break-even&nbsp;point. For example, selling a product for&nbsp;KSh&nbsp;1,000 does not mean you have made&nbsp;KSh&nbsp;1,000. You&nbsp;have to&nbsp;account for the cost of&nbsp;acquiring&nbsp;or producing the product and other business expenses.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">An&nbsp;<a href=\"https:\/\/finstockevarsity.com\/programs\/college\/short-courses\/business-and-strategic-management\/frbe\/\" target=\"_blank\" rel=\"noreferrer noopener\">entrepreneur<\/a>&nbsp;should also create a simple budget and avoid spending heavily on things that do not directly help the business. A fancy logo,&nbsp;expensive&nbsp;office, or unnecessary equipment will not automatically bring customers.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you are an entrepreneur starting with limited funds, consider testing your idea before making major investments. You can begin with a small batch, offer a service to a few clients, or create a basic online presence. The goal is to learn whether people are willing to pay before committing too much money.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Financial discipline also means planning for slow periods. Business income may not be consistent, especially in the&nbsp;early stages. Having a realistic plan can reduce pressure and help you make better decisions.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What business skills should an entrepreneur develop?<\/strong>&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A good idea&nbsp;is useful, but skills are what help you turn an idea into a functioning business. An entrepreneur should develop skills in communication, sales, customer service, marketing, negotiation, budgeting, and basic technology.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Communication is particularly important. You may need to explain your product to customers, negotiate with suppliers, speak to potential partners, respond to complaints, or present your idea to an investor. If you cannot communicate your value clearly, even&nbsp;a good product&nbsp;can struggle.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sales&nbsp;is&nbsp;another essential skill. You do not have to become aggressive or pushy. Effective selling is about understanding what a customer needs and showing how your product or service can solve that problem.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Digital skills are also increasingly useful.&nbsp;An&nbsp;<a href=\"https:\/\/finstockevarsity.com\/programs\/college\/short-courses\/business-and-strategic-management\/frbe\/\" target=\"_blank\" rel=\"noreferrer noopener\">entrepreneur<\/a>&nbsp;may need to use social media, email, spreadsheets, online payment systems, websites, digital advertising platforms, and basic analytics. You do not need to become an expert in every technology, but understanding the tools available can make your operations more efficient.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Time management&nbsp;matters&nbsp;too. When you are running a small business, you may be handling several responsibilities at once. Learning how to&nbsp;prioritise&nbsp;tasks prevents you from spending an entire day on activities that have&nbsp;little impact&nbsp;on the business.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">An&nbsp;<a href=\"https:\/\/finstockevarsity.com\/programs\/college\/short-courses\/business-and-strategic-management\/frbe\/\" target=\"_blank\" rel=\"noreferrer noopener\">entrepreneur<\/a>&nbsp;should also keep learning. You can learn through short courses, books, mentorship, practical experience, professional communities, and online resources. The important thing is to apply what you learn instead of collecting certificates without building practical ability.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How important is market research for an entrepreneur?<\/strong>&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Before investing heavily in a business idea, find out whether there is a real market for it. Market research helps you understand who your customers are, what they need, what they currently use, and what they are willing to pay.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">An&nbsp;<a href=\"https:\/\/finstockevarsity.com\/programs\/college\/short-courses\/business-and-strategic-management\/frbe\/\" target=\"_blank\" rel=\"noreferrer noopener\">entrepreneur<\/a>&nbsp;should not assume that everyone is a potential customer. Define your target market as clearly as possible. For example, a business selling affordable office lunch deliveries may target employees working in specific business areas rather than trying to serve everyone in a city.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Talk to potential customers. Ask about their challenges, current alternatives, frustrations, preferences, and budgets. You can also&nbsp;study&nbsp;competitors to understand their pricing, customer service, product quality, delivery options, and marketing.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In Kenya, local context matters. Customer&nbsp;behaviour&nbsp;can differ between Nairobi, Mombasa, Kisumu, Eldoret, Nakuru, and smaller towns. What works in one area may need to be adjusted somewhere else. Consider factors such as transport, mobile payments, internet access,&nbsp;purchasing&nbsp;power, seasonality, and local preferences.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">An&nbsp;<a href=\"https:\/\/finstockevarsity.com\/programs\/college\/short-courses\/business-and-strategic-management\/frbe\/\" target=\"_blank\" rel=\"noreferrer noopener\">entrepreneur<\/a>&nbsp;should also pay attention to competitors without simply copying them. Competition can show that a market exists, but it can also reveal opportunities for differentiation.&nbsp;Perhaps customers&nbsp;want faster delivery, better communication, more convenient payment options, improved quality, or a more affordable package.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Testing is often more useful than guessing. Instead of spending months building a product nobody has asked for,&nbsp;create&nbsp;a simple&nbsp;version&nbsp;and&nbsp;get&nbsp;feedback. This approach can save money and help you improve the offer before scaling.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Why does a clear business plan matter to an entrepreneur?<\/strong>&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">You do not need a complicated document that sits untouched in a drawer. A simple business plan can help you think clearly about what you are building and how you intend to make it work.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">An&nbsp;<a href=\"https:\/\/finstockevarsity.com\/programs\/college\/short-courses\/business-and-strategic-management\/frbe\/\" target=\"_blank\" rel=\"noreferrer noopener\">entrepreneur<\/a>&nbsp;should be able to answer a few basic questions: What problem am I solving? Who is my customer? What exactly am I selling? Why should someone choose me? How will I reach customers? How will I make money? What will it cost to&nbsp;operate? What are my biggest risks?&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Your plan should also include realistic goals. Instead of saying, &#8220;I want to become successful,&#8221; set measurable targets. You might aim to&nbsp;acquire&nbsp;a certain number of customers, reach a particular monthly sales figure, improve repeat purchases, or launch a new service within a specific period.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A clear plan helps&nbsp;an&nbsp;<a href=\"https:\/\/finstockevarsity.com\/programs\/college\/short-courses\/business-and-strategic-management\/frbe\/\" target=\"_blank\" rel=\"noreferrer noopener\">entrepreneur<\/a>&nbsp;make decisions. If an opportunity appears, you can ask whether it supports your&nbsp;objectives&nbsp;instead of following every new trend.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, a business plan should not become a&nbsp;prison. Markets change, customers change, and new opportunities appear. Review your assumptions regularly and adjust your strategy when the evidence tells you to.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Another useful part of planning is risk management. Think about what could go wrong and what you would do if it happened. What if a supplier increases prices? What if sales are lower than expected? What if a competitor enters the market? What if your main marketing channel stops working?&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What mistakes should a new entrepreneur avoid?<\/strong>&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Many beginners make the mistake of starting because they see someone else making money from a particular business. Copying a trend without understanding the customer or economics can lead to unnecessary losses.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-recalc-dims=\"1\" decoding=\"async\" width=\"693\" height=\"405\" src=\"https:\/\/i0.wp.com\/finstockevarsity.com\/resources\/wp-content\/uploads\/2022\/10\/image-13.png?resize=693%2C405&#038;ssl=1\" alt=\"\" class=\"wp-image-44213\" srcset=\"https:\/\/i0.wp.com\/finstockevarsity.com\/resources\/wp-content\/uploads\/2022\/10\/image-13.png?w=693&amp;ssl=1 693w, https:\/\/i0.wp.com\/finstockevarsity.com\/resources\/wp-content\/uploads\/2022\/10\/image-13.png?resize=600%2C351&amp;ssl=1 600w, https:\/\/i0.wp.com\/finstockevarsity.com\/resources\/wp-content\/uploads\/2022\/10\/image-13.png?resize=300%2C175&amp;ssl=1 300w\" sizes=\"(max-width: 693px) 100vw, 693px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Another common mistake is mixing personal spending with business finances. When everything comes from the same account or mobile wallet, it becomes difficult to measure performance accurately.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some people also focus too much on appearance before proving demand.&nbsp;A professional brand identity is useful, but it is more important to have a product people actually want.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">An entrepreneur should avoid ignoring customers after the sale. Customer retention can be just as important as attracting new buyers. Respond to questions, handle complaints professionally, and look for ways to improve&nbsp;the customer&nbsp;experience.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Do not be afraid to ask for help. Mentors, experienced business owners, accountants, marketers, trainers, and other professionals can help you&nbsp;identify&nbsp;problems you may not see yourself.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Finally, avoid expecting immediate results.&nbsp;<a href=\"https:\/\/finstockevarsity.com\/programs\/college\/short-courses\/business-and-strategic-management\/frbe\/\" target=\"_blank\" rel=\"noreferrer noopener\">Entrepreneurship<\/a>&nbsp;rewards&nbsp;consistency, adaptability, and patience. A slow start does not automatically mean your business idea is bad. It may mean that your pricing, marketing, product, target market, or execution needs improvement.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What is the final takeaway for an aspiring entrepreneur?<\/strong>&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Becoming&nbsp;an&nbsp;<a href=\"https:\/\/finstockevarsity.com\/programs\/college\/short-courses\/business-and-strategic-management\/frbe\/\" target=\"_blank\" rel=\"noreferrer noopener\">entrepreneur<\/a>&nbsp;is a journey rather than a single decision. Before putting your money and reputation on the line, prepare yourself with the right mindset, financial discipline, useful business skills, market knowledge, and a practical plan.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You do not have to know everything before you start. In fact, you will learn many lessons only through experience. What matters is starting responsibly, measuring your progress, listening to customers, and continuing to improve.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For young Kenyans, entrepreneurship can open opportunities across technology, agriculture, retail, creative work, professional services, education,&nbsp;logistics, hospitality, and many other sectors. But business success is easier to pursue when you combine ambition with knowledge.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you are also interested in building a career in areas such as&nbsp;<a href=\"https:\/\/finstockevarsity.com\/programs\/college\/schools\/school-of-development-studies\/ccsm\/\" target=\"_blank\" rel=\"noreferrer noopener\">criminology<\/a>, security, and related professional fields, gaining the right education can give you a stronger foundation.&nbsp;<a href=\"https:\/\/finstockevarsity.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Finstock Evarsity College<\/a>&nbsp;offers flexible learning options that can help you explore relevant courses while developing skills for your career journey.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Take your time, build your skills, understand the market, and start with a clear purpose.&nbsp;As an entrepreneur, your journey&nbsp;does not have to begin with everything figured out; it simply needs to begin with preparation.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Starting a business can look exciting from the outside. You see people building brands, selling products online, opening shops, creating apps, or turning a small idea into a serious source of income. But behind every successful entrepreneur is preparation that is not always visible on social media.&nbsp; In Kenya,&nbsp;entrepreneurship&nbsp;is becoming an increasingly attractive path for [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":14921,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[3,37,38],"tags":[],"class_list":["post-14913","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-course","category-e-learning"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 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