Starting A Business Is Like Buying A Car

I am a first time car owner and a first time business owner. I have gained quite a number of lessons from the car ownership experience that apply in starting and running a business. See below some of my key lessons and let's have a discussion:

1. You Need Resources To Start A Business:

If you need a car you have to buy it either from personal savings or through a credit facility. You must do the same thing if you want to start a business, you can even borrow money to fund your start up. However, money is not the only resource you need and that is why many people fail in entrepreneurship, they think all they need is money, NO! Apart from money, what you need the most is a good business idea, an idea that can solve people's problems in a number of ways. With that good idea you must be driven by a strong passion to work hard and smart until it becomes a reality. When buying a car it is not just money that you need but the time you spend viewing different cars and also negotiating prices if necessary. In my country (Zimbabwe) people travel to neigbhouring countries to purchase and import their vehicles because they cannot afford to pay some car dealers to do that for them. This means that with a business you have to spend resources in form of time, ideas and financial resources.

2. You Must Have A Clear Vision:

You do not just buy a car because others are buying. You do not buy buy a car to show people that things are going well for you and you have made it in life. A car must be an asset when you think of buying it. Your vision when buying a car must be clear otherwise you may end up buying a car that does not fit the purpose. Have you noticed that when driving a car 99,9% of the time you will be looking ahead through the windscreen? So before you embark on the business of starting and running a business please ask yourself, "Why am I starting this business?" If the answer is about showing people you can do it or becoming rich then you must rethink your purpose. People who start businesses to show off will always fail because they end up trying to live a life that is inconsistent with what their businesses can afford. Such people will use up their working capital to fund their unsustainable lifestyles just to prove a point. Have you ever seen people who start businesses in fancy offices just to make you believe they are running a successful business? Buying a car to show off sometimes means going overboard to get a car that is beyond your reach and borrowing funds to buy it. Therefore, as a startup owner and aspiring entrepreneurship you must be focused on the future. If you do not focus on the future, you will be confused when you get there and your business will cease to exist.

3. Dealing With The Authorities:

To become a car owner you will have to go through some certain processes so that you can legally drive that car on the state roads. You need to register it, buy vehicle licence, insurance and radio licence. The same applies to a business, you have to register it, open corporate bank accounts, obtain tax clearance certificate, obtain an operating licence (if necessary) and get an office. All these processes are not easy for someone who is starting up without enough capital. However, those who are determined to succeed will find a way. It is not easy to make the first step for many people. I once shared an experience where I was involved in an incident with Harare Traffic Police for parking my car at a terminus just to help my mother who was boarding a bus going back to our rural home. The authorities and law enforcement agencies will make you think that owning a car is a crime. The same applies to business, when the authorities come to you you may think it is a crime to own a business.

4. Running The Business Sustainably:

In as much as the car needs regular service and daily checks before each trip, a business is also very demanding. You cannot go for a minute without thinking of what needs to be done and when. Your business requires constant attention, you cannot put up a grocery shop in your rural home and stay in the city visiting the shop once in three months. It ceases to be your business because it is the same as driving a car for three months without checking oil, tyre pressure, or even the fuel gauge. Is that feasible? Businesses do not run themselves, they are run. You must pay taxes, ensure that there is enough operating capital, take care of your employees so that they are productive, ensure seamless service, protect your brand image, and ensure that you deliver consistent product/service quality.

5. Understanding Your Business:

There is no better driver for the car than its owner. Why? The car owner knows the strengths and weaknesses of his/her car. If you drive the same car for 5 years you will develop a very good relationship with it. You will quickly pick any new problem that comes up and act on it. Buying and selling cars, have you ever heard people saying that 'The Devil you know is better than the Angel you don't know", which means that it might be a good idea to keep that car you want to get rid off than going for a seemingly good second hand car you see out there. When there is a problem with a business that you have been running for 5 years it means that you are the best person to pick any anomaly that may come up.

Now, if you can buy and take care of your car for eight years why then are you failing in business? I have so many lessons from owning a car which kept me in business for the past 3 years. All the best to all of you who have taken a bold move to venture into entrepreneurship."

CoachBM is a game-changing career and business consultant with a proven track record of helping people from across the world with valuable Career Coaching Sessions, CV Writing Services, Entrepreneurship Mentorship, and Executive Coaching Solutions.

You may contact him via his mobile: +263 775 450 604 or e-mail: [email protected]