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How To Turn Yourself Into A Multimillion Naira Brand. - Business (3) - Nairaland

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Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 3:27pm On Jul 17, 2012
Thanks Hye-bit. Good day friends.

In continuation with how to relate to ourself - we have to learn how to motivate ourself when the chips are all down.
The journey to being a multimillion naira brand can become so lonely when you don't have people that believe in your ability to succeed, most especially your close family member.

Let it be known that it is only you that can stop yourself from being a worthwhile brand. If no man believes in you, you still have hope, but if you don't believe in yourself that you can build an empire - nothing can ever make it happen.

So learn to take large doses of motivation by reading other people's rise from grass to grace; how people braved all oddity to build business empires and how people filled their thoughts with possibilities.

Get motivated, you owe yourself the duty.
Thanks.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 9:50am On Jul 18, 2012
Good morning friends. What if fear is what is holding you back from becoming a multi million naira brand?

Fear, which is an inkling for caution, is very necessary. The fear of the unknown is a valid one. But when do we draw a line between positive fear and negative fear?
A mother who sees her toddler wanting to jump off a height would be filled with fear - it is the fear that would propel her to take action to save her child - a positive fear.

What about the fear that stops us from taking a life-fulfilling action? Such is a negative fear. With such fear, we give a thousand and one reason why the venture will fail, despite the fact that we have a detailed business plan. The risk is what we see and not the benefit - we forget the fact that, profit is the reward for the risk you take as an entrepreneur.
We over-analyse situations and plans to a point of indecision - a term called analysis paralysis, a forex parlance.

How do I overcome this fear? Make it a date tomorrow.
Thanks.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 11:06am On Jul 19, 2012
Good morning friends. What can you do to diffuse fear that is strangulating you to the point of inaction?

From my experience: I 've been able to put fear at bay by always thinking of my dreams - I had always wanted success on my own terms - and also to have some good things of life.
So when Mr fear wants to put me in a state of inaction or fill me with the mind of impossibilty, I think of the future I will have to forfeit because of fear - I immediately thank Mr fear for the company and show it the way out.
The ability to visualize the end rather than the present have been of help to me.

What are your own dreams? Think of them to dispel your fear now! The future belongs to those who can overcome their fears.

Thanks.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by OkoliChuks: 9:54pm On Jul 19, 2012
Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 11:14am On Jul 20, 2012
Hi friends.
Another way to let fear go off you is by taking a step of faith and start the journey of becoming a multi million naira brand.
Remember that a body will continue to be at rest until a force is applied to it. That initial step or force could be all you need to diffuse the fear that is hampering you - why not take that first step now!
How have been able to dispel your own fear? Share it with us.

By God's grace we shall begin the business plan module next week. It would be an in-depth and very practical study.
To make this module a worthwhile one for you, I will recommend you have a work idea at hand - however if this seems hard, an alternative to provide you a work idea, in no time, is in the offing. More details on this by Monday.

Someone sent me a nairaland pm, but my yahoo mail box has become inaccessible. I will work around it this weekend and provide another e-mail address.

Have a nice weekend. Thanks.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 9:38am On Jul 23, 2012
Hello friends, I hope your weekend was splendid.
Why the need for a business plan before you start off your venture?
Anwser this question! What will be the outcome of a country that goes to war without a plan of how to fight the war?

Ever heard this saying before? If you fail to plan that means you 've plan to fail then.
Without a business plan, your business becomes a guess game.
Most businesses fail because of lack of this roadmap document.

In what way can a business plan help you? Make it a date with the
thread tomorrow.
I will keep you posted on offer I wrote about last Friday. I am still working on it.
Thanks.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 10:58am On Jul 24, 2012
Good morning friends. The question for today is, in what way can a business plan help you?

A business plan is of vital help because it tells you where you are going and how to get there. It is a living document in that what is written in it is not cast in iron, but can be altered as the need arises.

A written business plan serves as a motivational tool to start a venture. It makes you feel in-charge - because it let you see the end of a thing without even starting it.
Let me give you a feel of this. Tonight, before you go bed, write a minimum of five things you wish to accomplish tomorrow. Wake up tomorrow, look through your list and strive to accomplish it. Please send me the different feelings you get after accomplising your task.

We shall see another important issue the business plan help us with tomorrow.
Thanks.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 10:38am On Jul 25, 2012
Good morning friends. Thanks for hanging in on the thread. I hope you took up the challenge that was given yesterday. I await your responses.

In continuation of our brief yesterday - the business plan helps you to anticipate 'some' of the likely problems of the business. Once these problems are highlighted, ways to go around them are sought for or else you forget the business.

You intend to run a haulage business and all you see is the large amount you are paid per trip - you forget the fact that the amount does not even represent profit because you are yet to remove your operating cost for the trip. You refuse to anticipate the problems of vehicle breakdown, 'wetin u carry' factor, drivers removing parts from trucks to sell and others. These problems eat deep into your capital and alas the haulage story ends. An old witch takes the blame.

Learn to think of risk first before reward. Risk or problems are inevitable in business.
Knowing and addressing them will definitely give you an edge.

Thanks.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 10:57am On Jul 27, 2012
Good morning friends. Sorry for being 'off thread' yesterday, a meeting took my hours from morning till late in the evening.

Another thing a business plan will help you do is: how to set 'realistic' financial targets and expectations.
The media is awash with hype businesses promising 100% ROI(returns on investment). If it were so, we would have seen castles in the air.

Profit forecast for business in Nigeria is put at an average of 20% - World Bank. If Dangote expects such returns on his investment, why should you expect more?
Profit margins also differs from one market to the other too.

In the business plan, you will get to know how to get reasonable financial data for the journey ahead.

Come Monday by His Grace, we shall begin with the elements contained in a standard business plan.
Thanks and have a nice weekend.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 9:55am On Jul 30, 2012
Good morning friends. I hope you had a nice weekend. I look forward to a pleasant week with you on business planning.

To the business of the day - we will start with the elements contained in a standard business plan. This simply means the things your plan must contain.

The elements are:
1. Executive summary of your business plan.
This a brief and concise description of your company, product or service, company outlook and goal, managment structure, market analysis, marketing and sales strategy, financial analysis - capital, operational and other financial projections.
Other elements such as SWOT analysis(will explain later), though in the body of the plan, may not be in the summary.

What does this summary help you achieve? Let us meet tomorrow.
Thanks.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 11:36am On Jul 31, 2012
Hi friends.
The summary will be your document to show people that you are serious about your venture; and that you've got what it takes to succeed.
Though the summary is the first page, it is written last because it gets it's input from the body of the plan.

If we are to follow the details in a comprehensive business plan, I bet you some of us will stop halfway. We are not a forbes 500 company so we do not need a forbes 500 business plan. The rule is to let your plan increase as your business increase.

We are a small consign, so will our plan be small to get off the ground. The main topics on plan shall be;
1. Business overview and goal.
2. Financial analysis.
3. Market analysis.
4. Marketing and sales strategy.
5. SWOT analysis.

Let us begin tomorrow with No 1. Thanks.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 10:38am On Aug 01, 2012
Good morning friends. Take your pen and paper as we start this remarkable journey.

Company overview and goal.
It is peculiar to start a business in Nigeria without registration - whether you see your venture as an ordinary business or company depends on you. However, it is advisable you register as soon as you can afford it.
In this theory of business plan, I will be addressing a one-man unregistered business.

In your business overview, this questions must be anwsered in all honesty;
1. What is the motivational force
behind this venture? Is it money, to be your own boss, success on your own terms, work at home mum or dad, to pursue a passion or interest e.t.c. It is motivation that will make you stick to the venture when all the chips are down.
2. What is your product or service
or service idea?

I leave you to ponder and anwser these questions till tomorrow.
Thanks.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 12:33pm On Aug 02, 2012
Hi friends. In continuation of the business overview, we will anwser these questions:
1. What need does your product or service idea intend to meet?
2. What specific people or industry will need your service or product?
3. How will the need be met? i.e business model to use.

The business overview and goal is so crucial because it sets the tone of what will happen in the course of planning - so it is imperative we take it serious.

Till tomorrow. Thanks.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by rukem(f): 2:15pm On Aug 02, 2012
Your topic is really educational and I have gained a lot from this thread. God bless you
Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 11:28am On Aug 06, 2012
Good morning friends. @rukem thanks.

Today, we will start with business goal. It is important we understand what a goal is first? A goal is simply an aim or a target you intend to achieve. Can you imagine a football game with no goal post to aim at? The same goes for a business without a goal - it becomes doing business for doing sake.

Business goals are drawn from your service/business/product/work idea - depending on what you choose to call it. For information on how to create a product/service idea that will stack the odds of success in your favour, send a blank e-mail with subject 'comfort zone idea' to comfortzoneidea@gmail.com.

For a goal to be acceptable, it must be S.M.A.R.T. What does this stand for? Let us meet tomorrow.

Thanks.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 9:43am On Aug 07, 2012
Good morning friends.

We said for a goal to be acceptable, it must be S.M.A.R.T.

The 'S' stands for specific. It simply means you go straight to the point of what you intend to achieve.
E.g. I want to have a shop each in 3 major markets.

Discover a groundbreaking way to to create work idea based on your ability - send a blank email with the subject 'comfort zone idea' to comfortzoneidea@gmail.com.
You need a service/product/work idea to benefit from the business plan module.

What does 'M' stand for? Let us meet tomorrow. Thanks.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 8:47am On Aug 08, 2012
Hello friends. Please be free to ask questions as we go on in the module.

Remember, the first thing; a goal must be specific. What does 'M' stand for? It stands for measurable. A business goal must be measurable.

3 shops, N1000, a small scale maize shelling plant are all examples of measurement.
I will make a sales of N1000. With this statement, it becomes easy to evaluate your goal.

Let us get to know what 'A' stands for tomorrow.

Thanks.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by joshuakume: 11:54am On Aug 08, 2012
Great post,i do think that all in all at the end of the day,it all boils down to the individual involved.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by WebsiteDesigner: 12:42pm On Aug 08, 2012
A good website is necessary too. Get one.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 1:44pm On Aug 08, 2012
@ website designer thanks for the advice. Already in the process of getting one.

@joshua, you are right, the permission to make something good happen in your life can only be given by you - so it depends on the person invovled as you wrote.

Have a nice day.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 10:27am On Aug 09, 2012
Good day friends.

So far, for a goal to qualify as one, it must be specific and measurable. The next letter is 'A'. It stands for 'attainable'.

To attain means you can perform the task despite all odds. A yes or no is the anwser you can give to whether you can attain a goal or not.
However, you have to be truthful to yourself about what you can do.

Albeit, you 've got to motivate yourself to attain a goal often times.

Let us meet tomorrow for what 'R' is. Thanks.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by Gswill: 11:19am On Aug 09, 2012
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Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 2:18pm On Aug 10, 2012
Hello friends.

We have seen so far that a business goal must be specific, measurable and attainable.

The next letter is 'R' which means a goal must be realistic. We live in a world of get-quick-rich; the tendency is to set goals to fit this syndrome. Avoid goals based on fast returns or what looks like an insurmountable mountain.

For example, making a profit the first month you open a shop is quite unrealistic; why? Your expenses often outweighs your income plus the fact that you have little or no customer base at start-up .

Till Monday, have a nice weekend.
Thanks.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by CHIMSKY(m): 9:34pm On Aug 11, 2012
keemax: Hello friends. I am sorry @k lala, I switch off from the thread over the weekend to re-appraise my business and life. It is very important you cultivate this habit as an aspiring entrepreneur. We would go through this during the business plan module.
So @k lala, I would get back to you soonest.

My good brothers at the webmaster category helped me over the weekend on how to make the report available to you.
Expect it within the next 48 hours.

Today, we will look at why we must have a working knowledge of marketing and sales. My people, no matter how
good your product or service is - if you can't generate cash from it; then their is nothing good about it.

Marketing is all about identifying who your customers are; where they are; how to meet them; how to let them know what you have for them; taking notice of your competitors; how to outperform them and how to persuade people to buy from you.
It is a tough task abi! However, the beauty of it is that the more you do it the better you get at it.

What subject matter do we require to read? Let us know tomorrow. Thanks.
Pls send a copy of the report to chima336@gmail.com

Re: How To Turn Yourself Into A Multimillion Naira Brand. by kings2all: 2:16pm On Aug 12, 2012
cheesy Talking about becoming a multimillion Naira through online Biz, you really have to start with what you have, most of us wants to make it big online and at once, but it does not really work that way. if you are serious enough and consistent you at last see yourself having an autopilot continuous income online.

cheesy Secondly for we Nigerians to make it online there are so many challenges, some online payment system does not allow Nigerians, this puts off some of us away.

cheesy So we comeback to the question; how do we really make it online as Nigerians?

cheesy Before you Emback on that great program you wish to invest your money on, you can really raise so m-oney for yourself through this Wealth Network Program. They allows Liberty reserve And All You Need To Know about This Program is In details Here http://globalinstantcash..de/
Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 4:14pm On Aug 13, 2012
Good day friends. I hope your weekend was cool.
@ chimsky thanks. I suggest you look at the posts proceeding the quoted one: I gave suggestion on subject matters for sales and marketing. So please go through it. I am on a mobile phone and dont know how to attach a post link on it.

The final letter in our goal acronym is 'T'; what does this stand for? It infers that a goal must be time-bound.
A goal without a deadline is a wish.

I will start a business service/product idea coaching program by Dec. 1, 2012 - is this statement S.M.A.R.T?

Make it a date tomorrow. Thanks.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 11:33am On Aug 14, 2012
Good morning friends.
Now that we know what a goal must be like: what is your business goal? Remember, it must be S.M.A.R.T.

Now, what is your business goal? Note it down, It is important you write out the steps to accomplish your business goal in a detailed manner.

In the business overview and goal, your goal for the future must be included - goals for second, fourth or fifth year, depending on you. I wrote goals and not business plan for the future.

Why the future goals? Make it a date tomorrow.
Thanks.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 5:06pm On Aug 15, 2012
Hi there.
Why should you include future goal statement? For continuity sake, a gap should not exist in your business. You do not accomplish a goal and ask yourself what to do next. You may be thrown off track.
Japan as a country has a 150 year rolling development plan - no new government comes in to change it, and this approach have help their economy greatly.
Future goals is akin to having a rolling development plan.

When you are mid way of accomplishing a year goal, you should begin the business plan for the second year goal.
As you grow, so will your plan grow and become complex; it is expedient to make use of business plan services at such period.

Let us continue tomorrow.
Thanks.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 12:54pm On Aug 16, 2012
Hello friends.
With the business overview and goal done, what next?

Let us go for market analysis. Why this analysis? For thorough knowledge of your target market.

For the analysis, these are questions for you to answer;
1. What is your business service or product idea?
2. Is your idea a need or want?
3. Is there a market/demand for your product or service.

Answer the above - till tomorrow.
Thanks.
Re: How To Turn Yourself Into A Multimillion Naira Brand. by keemax(f): 4:25pm On Aug 17, 2012
Hi friends. Quite late today.
The question for today is:
4. What market does your product or service idea cater for?
Is it an evergreen, future or present market?

An evergreen market will always be there; generation come or go.
A future market will have a product or service for the future. For example, as concern for the environment heightens, we will have products like soap whose branded wrappings would be soap too. Putting up such an idea now can lead to a business failure because I doubt if the technical-know-how is available.
An idea for a present market has all it takes to profit now, but will it be relevant in the future? Nobody knew email would make the postal system almost obsolete, but it happened.

It is important you know which market your business idea caters for, so when a need for change arises you don't resist it.

Have a nice weekend.
Thanks.

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