March 8 - Business Idea 6: Your Parent’s Business (Father’s/Mother’s Business) - Part 2 (What You Will Leverage On?)

Underlisted are significant and undeniable reasons why you need to leverage on your father’s business. Therefore, don’t have wrong perspective as regards running your parent’s business because it adds more value to you than to remain idle and dependant. 

Name: Good name is better than gold and silver. It simply implies that the value attached to good name is far above value of any gold or silver. There is nothing that can be quantified to goodwill; it is expedient in accounting that it is recognized. 

Your parent has been graced to build that name for one or two decades, it has cost them what money cannot buy. That name isn’t strange in its own territory, it can open the door unto you as an individual as you decide to leverage on it. 

Brand: You will be opened to be a beneficiary of a brand that has been known within and outside the reach of your father. There are logo, color, design etc of some company that its definition cannot be farfetched. 

It is wise to leverage on a selling brand for you to gain or penetrate into the market before you rebrand. Either local or international, a brand has been created even before you are born.  

Facility and Equipment: If the facility is still intact, you can start from somewhere, you are so lucky that you have something to start with. I am also aware that some of the equipment might be stale but very much sure that some are really useful, if not, you can dispose it, still generate a little income that you can complement to get the modern equipment for you to have better productivity. 

Connection: It doesn’t matter how much you have, getting the trust of customer is a hard work, therefore, be sure that your dad’s connection in this business shouldn’t be undermined as it is a fortune that cannot be cast into the sea. 

Thrive on the connection your parent had made; take the connection and relationship to the next level your parent never had the opportunity to. 

Challenges: The size of a man’s challenge is a product of its impact. Instead of being scared of challenges you are to face in the business, celebrate because it shows the impact of the business. Stand firm to conquer the challenges without backing out. 

Stopping to Starting: You can be sure that you wouldn’t have to travel through the hurdles your parent has passed in the journey of the business. You aren’t only an arm’s length away from your contemporaries; you are automatically a predecessor to them. 

Your parent stop point is your start point. Start from where they stopped, instead of starting from where they started. 

These and many more are the leverages you can leverage on, if you decide to run the business your parent has ran before, the tree is only cut down, the root still has its presence there. 

Dapo Olaleye, an Associate Pastor in Balance Gospel Ministries International Headquarters. He is the President of Business Xploit Group with Nine Subsidiaries through which lives are blessed around the globe. Chancellor of Business Xploit institute, Facilitator in School Of Discovery (Gospel Dominion Prayer Ministries), author of seven books (Unlocking Your Potentials To Profits, Uncommon Sense Guide To Making Money, Woman! You Are A Blessing Not A Burden, Ladies Of Dignity, More Than Money, A-Z Secrets Of Academic Excellence, Becoming An Academic High Flier and Generating God’s Ideas For Business, Ministry, Career (CD)). He is an alumnus of Daystar Leadership Academy and Daystar Business Academy and Student of Word Of Faith Bible Institute. He can be reached via: bizxploit@gmail.com, 08122927079.