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...

Welcome to Small business 247. Please, follow our Site, to receive notifications whenever we post a new content.  Here are some best practices for food item distribution: A.  Pre-Distribution 1. Proper Storage:  Store food items in a clean, dry, and temperature-controlled environment. Food items need to remain fresh all the time.  In case you might want to keep stocks it's advisable that you should get storage facilities in place to avoid spoilage. 2. Inventory Management:  Conduct regular inventory checks to ensure accurate tracking and minimize waste. Always know what can be ordered at a given time and then get them. Some people get orders before purchasing inventory.  3. Food Safety Checks:  Regularly inspect food items for signs of spoilage, damage, or contamination. Then keep eyes on  B.  Distribution 1. Clean and Sanitized Vehicles:  Ensure distribution vehicles are clean, sanitized, and maintained regularly. The best suggestions i...

The best approach towards food vending business in Nigeria. It is projected that there will be high demand of food in 2025. And here is the way to start. We have researched and discovered the best way you can do this and be able to record success in the nearby future. Here's a comprehensive approach to starting and running a successful food vending business:  Research and Planning 1. Identify your niche:  Decide on the type of food to vend (e.g., snacks, meals, specialty foods). Me, I sell raw rice, raw beans, and some other raw food item. What exactly do you want to be selling? Write it down on a paper now, before you continue reading this blog. 2. Conduct market research:  Understand your target audience, their preferences, and the competition. What do you know about that product you just decided to start selling?  If you know not much, no problem yet. Don't worry because you can still do research, and learn about the purchasing price, the expected expenses and the...

Elon Musk advises all immigrants to work very hard, while in America, to earn his respect. "We named @Tesla after Nikola Tesla, one of the greatest engineers ever." --Elon Musk

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...

This is what founding a business is all-about. Laying a strong foundation of your business on the immediate business is all about making thorough research, decision and conclusion, based on you ideal product, vision, business true-value, economic chain and your rewards after-all.—clarity on your ideal products, suppliers, ideal market, customers, partners and financial support sources. No matter what your aims for starting your own business are, development of the foundation is likely to be the same. Laying of strong foundation is both mental and paper work, containing your business structural plan, and proper execution plan. This is all about checking through all the channels on which your business will be flowing to and fro every day. It gives you the ‘road-map’ to follow as you build your business.  Reason why you must make a paper work business foundation plan is because action takes longer than thoughts or words. On the process of executing a plan you d...

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...

Give gifts to your customers, to maximize sales. Everybody love to receive gifts, you are not exceptional and so are your customers not exceptional also.  And unconsciously or consciously perhaps, we all love to go where we receive something free. And when you give us free gift that we will frequently be using at homes or offices, it reminds us of your helpfulness.  And we will like ly want to come again to receive. If the gift that you are giving you customers has your business logo, name, and contact information, you are probably setting traps to attract whoever that came across such gift, as you spread the awareness of your business firm. Sometimes, we customers don’t come to buy, we just come to receive gift and therefore, decide to buy more.  This is a beneficial reason you should get more gift for your customers. Gift sharing is a very effective means of advertising that also reminds the receivers that their businesses are important to you. This is a positive feelin...