Small Business 247

How to start a small business in Nigeria: Step by step Starting a small business in Nigeria can be challenging, but with a clear guide, you can navigate the process successfully. Here's a step-by-step guide to help you get started:  Step 1: Research and Choose a Business Idea 1. Identify your passion: Think about what you're passionate about and what problems you want to solve. 2. Conduct market research:  Understand your target audience, their needs, and the competition. 3. Choose a profitable idea:  Select an idea that has a demand in the market and can generate revenue.  Step 2: Develop a Business Plan 1. *Define your business model*:  Outline your business structure, mission, and vision. 2. Set clear goals and objectives:  Establish specific, measurable, achievable, relevant, and time-bound (SMART) goals. 3. Create a marketing strategy:  Outline how you'll reach your target audience and promote your products or services. 4. Develop a financial plan...

Good reasons to start your own business   There’re factors that will help you to know if you are on the right track or qualified to start you own business. The factors for entrepreneurship include time, people, money, Grown-mentality, confidence and positive belief.  So, the following are the good reasons, that, if you have them, you are qualified to have your own business. You have the time :  This says about your willingness to devote your biggest time for your business. Somebody, whose time is occupied by another endeavor or hobby, can’t be his own Boss, because in entrepreneurship, there are many roles to play. As the owner, manager, true-keeper, seller, moderator, Accountant etc. So, to keep on the right track of progress, you need time!  You don’t need to combine your business with another thing, except those things that will promote it, i.e.: Exercise and Reading. Other things apart from these two things are distractions. I mean you should do ...

 Decide on whether to start a business part-time. Starting a business part-time lowers the pressure on you immensely. It enables you to work on your business, while you still have a steady pay check. Just in case things don’t work out. Do you understand? Building your business part-time allows you to work along with the business through early morning hustle, evening hustle or week- end hustle; these will help you to fund your wallet with cash during the larva stage of your business. If you are an employee, this formula is good for you when you have the approval of your boss. You can start your business as part-time and gradually make it strong and carefully drop your job as the business wax stronger. And if you are unemployed, it can also work for you even better and easier. See why you have the spare times for side hustle, which you will use to support and develop your business you manage your time as you wish, going to hustle when you should. The business part-time is...

Learn from your past mistakes an d improve your performance. A toddler cannot jump up and start running overnight, when he/she has to fall several times before standing firm; and then start walking. Mistakes are what we encounter in our everyday attempt to do a new thing. Somebody who never made a mistake has never tried anything, and there is no way one can improve if not by learning from mistakes, both from himself and other people. Mistakes can make someone to fail a mission, but when you fail, there is no other option than to rise. So mistakes and failures are seen as the best teachers in life; from them we get a lot of experiences and wisdom.  When we fail we observe the mistake that caused the failure, learn the point we should amend and move on. You shouldn’t ever want to repeat a particular mistake, but if you fail two times in a row, and the failures are not caused by repeating one particular mistake, there is no problem.  Just keep on trying a...

In this social media era, you can find out now, that most products, services and ideas sell more or become more acceptable when they become popular, viral or are trending. To achieve this, you need other people to talk about you and your product.  That is network in marketing. Story of a stupid loner (and why you should network ) There was one story that our Parish Reverend Father used to tell us in most of his religious sermons.  The story is about one very Religious man, who lived in a city with abundant riches. The man had storey buildings, and many other riches. And one of the days, a terrible storming tempest befell that city, in which the man lived in. Then, the local officials sent out an emergency warning that the river banks would soon overflow and flood the nearby houses.   They ordered everyone in the city to vacate immediately. That rich man‘s house was among those that will be affected. But that Religious man heard the warning and decided to stay; sayin...

Here is Why  unethical business management should be curbed from our society.  1. It contributes a lot to corruption as it still eats as moth as corruption does. It is expelling our prospects or potential investors. 2. The brutish acts of some entrepreneurs has made others who are not doing as they do to lose confidence of their natural abilities and thereby are hindered the right to survive. This is painful. 3. It is havoc and hazardous: unethical business management has turned to brutality, as it is predestined to re-occurs following retaliation and retrieval of losses. The dirty, secular, profane and sacrilegious competitions that happen in our markets places today is out of or started as constant unethical business practices. 4. Government can use the elimination process to control cost of some social amenities and public related items which solve people’s problems; such items like: housing, food, water, transportation, electricity, petroleum and others. I must assure yo...

These are two most powerful tools in selling out a product, learn how.       1.Outspokenness :- The greatest challenge most people are facing is the ability to talk to someone, at least to make their minds understood by others.  Almost every ten seconds, especially in this social networking era, opportunities flood up and down in our presence; But the issue is about grabbing them by knowing exactly what we want and being able to voice it vividly to the universe.    Outspokenness is a multiplier of lucks, but unfortunately only few entrepreneurs know the importance of this beautiful great virtue.   Being able to voice exactly what you really want at the right time is hereby proven to be “living up your standard”. You don’t have to be too shy, adamant, invisible or dead.  Shy people are those dead ones pretending to be good, standing to let things happen by themselves or those who are afraid to say their mind or do what they know i...

How can unethical business management be eliminated from our countries?  All these things I‘ve been writing is for government to get up and liberate this country. I’m not crying for help, I’m crying for intervention; and for people’s commitment to making this change. Any government that will do this must not start if they can’t finish. And they must set an understandable timeframe for the people in order to get prepared.  And, the government must do their best to quickly fix things so that the poor innocent ones won’t suffer it worst. The government must focus on their mission and not bad mouth.   I am placing all these responsibilities on the government because as this country is now, it is only a fierce and committed government that can restore its dignity.  Only that can bring ethical manners to our workplaces through very effective security, transparency, watch, report and other caring measures.  What measure can be taken to influence people of Nigeria ...

10 things to do to prevent failure when your business is beginning to fall back:   How to get your falling business back; up and running   Is your business having a problem?    Depending on where you get your self, you can start building up again and this time it is actually going to be a lot easier process than before. because you already have experience from the first try. It is normal to have an initial failure in business, because with this you are going to learn your lessons with which you will overcome future hindrances.    1. Make sure that you have some money remaining in your hand:-- Revisiting your back-up treasure.   At times the major cause of business failure might be out of lack of proper funding. it may occur due to insufficient capital or manager's ignorance. So, it is left for the manager to check whether the business is lacking funding in any way, and seek a solution for that, which is to look for an interne=al or external source to g...