₦airaland Forum

Is there an unmet need or gap in the market that you might fill?

The problem lies in our orientation and not insufficient capital.We all offered Entrepreneurship in our various institutions but unfortunately,more than 95 percent of us only read to pass exams.I don't know how informative that of other institutions are,but the Entrepreneurship programme I took was more than enough for any graduate to start-out on his or her own.If you cannot make do with the little you have got,then you will not succeed with a large amount.

As a graduate,you don't have to do a menial job to make money.Every course studied in the Uni or Poly I believe has got one or two human problems to solve.An Accounting Graduate,for instance,can setup a bookkeeping firm,A Business Admin Graduate can start a small business consulting firm.These businesses require a laptop which most of us have got and less than 10K to start,as you can run them from your homes.

Is a competitor failing to adequately service the market?

What kind of protection is he talking about? Has he got children schooling in Nigeria?

Is there talent located somewhere that you might be able to acquire?

What trends might impact your industry positively?

What external changes present interesting opportunities?

What are your vulnerabilities?

What measures can you put in place to reduce the impact of these factors?

As a graduate of Banking and Finance,I do not see where you fit into the Nigerian Navy.If you had read Accounting,you would have had a place in the Accounts and Budget Department.Anyway,this is Nigeria where anything can happen.As for the exams,don't bother yourself to prepare.Selection is not by merit.Get an Admiral,Senator,Minister,Rep or Governor.

What factors within your organisation may prevent goals and objectives from being achieved?

Do you have sufficient funds to sustain the business?

Are you relying primarily on just a few customers or clients for the survival of your business?

In what areas do your competitors have an edge?

What necessary expertise or manpower do you currently lack?

What areas do you need to improve on?

Do you have positive relationships with your employees?

Do you have a strong relationship with your customers or potential customers?

Do you use or intend to use superior technology in your business?

I do not know if membership of an Engineering Body is open to BSc(Edu) holders.But I do know very well that the BEng holder requires some years of relevant Engineering experience to qualify for membership.I begin to imagine how the BSc(Edu) holder will acquire the required experience.

Is the location of your business an advantage to you?If yes,in what way(s)?

Do you have specific sales or marketing expertise or experience?

What unique resources do you have?

A BSc(Ed) Electrical Technology is trained to become a teacher.While a BEng Electrical Engineering is trained to become an Engineer.However,He cannot be addressed by the title,Engr, until he has registered as a member of an Engineering Professional Body e.g Nigerian Society of Engineers or COREN.

What are your assets?Which asset is the strongest?

How will your business succeed in the market where others have failed?What gives your goods or services a distinctive edge over what competitors are offering?As an entrepreneur,you should be innovative enough to differentiate your products.Yours should not be just another product in the market.

Set goals and state your objectives.What are your short-term and long-term goals?What will you do to achieve them?Your goals should be realistic,achievable and measurable.

What is your mission statement?What is it that your business will do for customers?How do you intend to achieve your vision?