Before you start a business...

Many people go into business without the basics, which ultimately leads to failure. Rose Njoki, who handles investor relations for Entrepreneurs Spot, tells us what the basics are.

1.       Passion

This is the most important one, because if you love what you are doing, whether there is money or not, your love for what you are doing will surpass everything. It will be your driving force even when business is bad, the economy is falling or whatever challenge it is you are facing. If you are passionate about it, you will wake up every morning to face whatever challenges crop up. For instance, if you are passionate about painting, figure out how to monetize it. That way, even when you are 80, you will still have the passion and do it whether there is money coming in or not.