5 Questions Every Entrepreneur Should Answer Before Launching Their Business

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BuyRentKenya, Kenya’s leading online property classifieds site by revenue, ad volume and traffic and backed One Africa Media, has been nominated as the ‘SME of the Year’ Social Media Award at this year’s Social Media Awards and is set to win. (Vote for BuyRentKenya here.)

Launched in 2012, BuyRentKenya.com. was nominated at the 2013 CIO100 Annual Awards after just 6 months of existence and was early this year named among the top 50 most innovative Kenyan startups. The site sees nearly 200,000 visitors each month who include property buyers, sellers, renters, brokers and developers who visit for it’s up-to-date local real estate news, market trends, home styling, expert advice and useful guides on buying and selling apart from its listings.

TechMoran caught up with Jamie Pujara, the co-founder and CEO of BuyRentKenya and told us what inspires the company everyday and the principles that have driven BuyRentKenya’s growth into what it is today.

1.Who is my customer?

It’s important to always know who your target market is? The more specific you can be the better. It will help shape your business plan and your projections as well as your estimation on how large the market is.

2) Why do they need this product/business?

If you’re starting a new business you need to ask yourself why a consumer would subscribe to your service or buy your product. This can be because there are no alternatives in the market, or it can be something that you offer that resonates with a people’s emotions.

154391_670567999663095_6102438574608048678_n3) Does my product match this need?

You always need to keep asking yourself this. When you’re in the startup world it’s very easy to get sidetracked and to lose focus on what you have set out to do. Everything you introduce should focus back to this to make sure your product is aligned with your customers needs.

4) How long am I willing to keep going?

Probably one of the harder questions you must face. There’s a saying ‘Hope for the best and plan for the worst,’ which kind of sums this up nicely. Everyone is in different circumstances and it’s important you’re aware of what your limit is both financially and emotionally. Starting a business can be very stressful and it’s important to know not only how much you are prepared to give to it, but also at what point you’re prepared to say it didn’t work and move on..

5) Where do I see my company in 5 years time?

I’m a believer in positivity, set yourself goals and keep reminding yourself what they are. By being able to see yourself and company in 5 years time is a great motivator to get you through the dark days and a great indicator to see if you’re on track.

Vote for BuyRentKenya here now!

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