Start Small And Grow Big: Micro, Small And Medium Size Enterprises Revolution

By Peter Osalor

You are destined to be great. All you need is to start small and grow big because the path to greatness is made available to us all. You are not redundant, you are not a loser neither are you a failure. Be positive – especially when venturing into
business. You must maintain a positive mind set no matter the type of business you desire to start.

Those who start small end up achieving big in the long run because during periods of struggle, they chose to acquire the necessary knowledge and experience. Most businesses that start big fail and incur debts because they lack experience and the know-how to run and sustain a business successfully. Starting small gives you the opportunity to learn and adjust quickly to avoid disasters.

Small business is big business. I submit to you, take it easy, start small and grow big to avoid problems and increase your chances of survival in the real business world where dog eats dog.

To succeed you need four ingredients: scalability, capability, technological adaptability and branding power. It all begins with you. You can no longer think of your business as that traditional small business. With a grand vision and strategic focus your business can grow into a powerful profitable engine of innovation and employment.

• Language: English
• Publisher: POSAG International Ltd
• Release date: Jul 2, 2023
• ISBN: 9791222422596

Book preview

START SMALL AND GROW BIG

MICRO SMALL AND MEDIUM SIZE ENTERPRISES REVOLUTION

Peter Osalor

Contents

INTRODUCTION

CHAPTER ONE

This chapter covers:

What is Business?

What are MSMEs?

Definitions of MSMEs around the World

Africa:

South Africa

India

European Union

Poland

United Kingdom

North America:

United States

Australia

New Zealand

CHAPTER TWO

This chapter covers:

Why MSMEs

Are MSMEs Entrepreneurial?

MSMEs:

Entrepreneur:

Enterprise:

CHAPTER THREE

This Chapter Covers:

MSMES VS. Large companies

Advantages MSMEs Have Over Large Companies

The feeling of family

Close to the customer

Lean structure

The economic crash of 2008/2009 that contributed to the crashof large companiesWorld wide

The effectsof the crash on large companies worldwide:

The solution: The MSMES revolution and the EntrepreneurialRevolution

CHAPTER FOUR

This Chapter Covers:

Howto start a business with what you have

1. Start with what you have

2. ​Take into account who you know

3. ​Invest what you can afford to lose

4. ​Experiment and adapt

Types of newbusinesses to start with limited capital

The downside of the lowcapital approach

What you need to start your business

1) ​Determination

2) ​Commitment

3) ​Belief

4) ​Be informed about the kind of business you want to start

5) ​Choose a business that you canstart with little cash

6) ​Be creative

7) ​Run your business with a passion

8) ​Think cash

Why you must start your own business?

Factors that may prevent you from starting your own business

1) ​FEAR OF FAILURE

2) ​SITTING IN YOUR COMFORT ZONE

3) ​FRIENDS AND FAMILY ADVICE

4) ​LITTLE OR NO FAITH IN GOD

5) ​CAPITAL/CASH

6) ​YOUR CUSTOMERS ARE YOUR GOLD MINE

7) ​AVOID CONVENTIONAL METHODS

8) ​USE COMMON SENSE

9) ​POSITIVE THINKING

Caused of business failure and howto prevent

1. ​You start your business for the wrong reasons

2. ​Poor management

3. ​Insufficient capital

4. ​Location, location, location

Some factors to consider:

5. ​Lack ofplanning

6. ​Overexpansion

7. ​No website

CHAPTER FIVE

This Chapter Covers:

Choice of business organisation/business medium

Sole Proprietorship

Partnership

Corporations

Limited Liability Company

CHAPTER SIX

This Chapter Covers:

What is a Business Plan?

Howto create a business plan:

Business plan guide:

Writing your business plan: The ingredients of a marketing plan

Organisation and management

Funding request

Company description

Business description

Service or product line

Financial plan

Competitive analysis

Design and development plan

Operations and management plan

The opportunity, industry and market

The opportunity

Industry

Market

Strategy

Business model

Team-management and organisation

Appendices

CHAPTER SEVEN

This Chapter Covers:

Record keeping and taking advantage of the information technologyrevolution

Taking advantage of the information technology revolution

CHAPTER EIGHT

This Chapter Covers:

MSMEs: The panacea for sustainable economic growth and job creation

Overview of SMEs in Selected Emerging Economies

20 Companies that started small and are nowlarge

1. ​Adidas:

2. ​Coca-Cola:

3. ​KFC:

4. ​Pizza Hut:

5. ​Volvo Cars Corporation:

6. ​Dorling Kindersley:

8. ​Apple:

9. ​BlackBerry:

10. ​Nintendo:

11. ​Nokia:

12. ​Sony:

13. ​eBay:

14. ​Google:

16. ​Billabong:

17. ​Cloudy Bay:

18. ​Green & Blacks:

19. ​Dyson:

20. ​Lonely Planet:

CONCLUSION

RESOURCES

APPENDIX

25Small scale business ideas and opportunities

BOOKS BY THE AUTHOR

INTRODUCTION

You are destined to be great. All you need, is to start small and growbig because the path to greatness is made available to us all.You are notredundant,youarenotaloserneitherareyouafailure.Be positive–especiallywhenventuringintobusiness.Youmustmaintain a positive mindset no matter the type of business youdesire to start. Even if you hope to begin a business that seemsinsignificant, you must remain positive, and as you progress believethat you will grow your business. You can start your business today;yes, even right now. Starting is sometimes half the battle and itdoesn’t cost anything to start small, then grow big. Why waste time?Remember, all the great men and women started from the scratch,and today, we know their names because they have achieved successin a given field. Start today and stop looking down on yourself, havesome confidence and believe that you can and will succeed. Thosewho start small end up achieving big in the long run because duringperiods of struggle, they chose to acquire the necessary knowledgeandexperience.IcanremembervividlybackinWarri(Delta,Nigeria), when I was ‘hustling’, trying to make both ends meet. Itwasn’teasy,especiallycomingfromabackgroundwhereeating three square meals a day was difficult. I had no one to assist me, Istruggled but I wasn’t discouraged. I kept on dreaming big, workinghard and believing that one day,I would make itto the top.

I started with a transportation business, from there I opened an outletfor my mum where people would come and recreate themselves.BacktheninWarri,itwastough–butratherthancaveinandquit– I became tough too. I believe that it was this never-quit-philosophythat kept me going. Today I am a chartered accountant and I runPOSAG, an accounting firm, I am a public speaker, and author ofmultiple books. IfI can make it, you too can equally make it.

I want you to understand that starting small does not mean you aresmall,itisnaturalstageofprogress.Everythingonearthstarted small, or began in seed form, including me and you. It is normal,because it has only one direction to go and that is increase. Theevidenceoflifeisgrowthandtheevidenceofsuccessandprogress is development. If there is no growth it means the thing is dead and if there is