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Business / Re: The Most Common Business Plan Mistakes -- And other Posts from WealthResult.com by cameronese(m): 11:45am On Sep 10, 2012
Check some handworks you can learn in Nigeria within 2months

http://www.wealthresult.com/2012/09/handworks-in-nigeria-you-can-learn.html
Business / The Most Common Business Plan Mistakes -- And other Posts from WealthResult.com by cameronese(m): 8:29pm On Sep 09, 2012
Reading through these common business plan mistakes before you write one will make the task a lot easier – and give your new business venture a much better chance of success.

1) Not bothering to write one.

This is far and away the most common mistake. Entrepreneurs are doers so it's natural that they want to get on with things and get them done – especially when they have an idea that they’re excited about buzzing around in their heads.

But who hasn’t heard the adage "He who fails to plan plans to fail?" And that's the fate of almost every business someone starts without a business plan; failure. So yes, you need to write a business plan. Here are five reasons why.

You don't necessarily need a full-scale formal version of a business plan professionally packaged in a binder (see the next point about purpose), but you do need to have one.

2) Not being clear about the purpose of your business plan.

A business plan is essentially a solution to a problem, the problem being how you are going to turn your vision of a successful business into a reality.

So why are you preparing a business plan? Is it to persuade a potential lender to give you a business loan? Attract investors? Figure out if your new business idea could actually be turned into a viable business? Serve as a blueprint for your successful startup?

The purpose of your business plan will affect everything from the amount of research you have to do through what the form of the finished plan will look like (and what you will do with it). Read more about the different types of business plans for different purposes here.

If all you want to do is find out if a business idea is a good one that might be worth working up a business plan about, use these five questions to tell if your business plan idea is worth it.

3) Not having a clear business model.

A successful business has to make a profit. It astonishes me how many people who start small businesses don't seem to grasp this basic fact – or are incredibly skilled at ignoring it.

Planning to sell something is not a business model; a business model is a plan for generating revenue over and above your expenses. You can make the best mousetrap in the world, but if it costs you $90 to make each one and people are only willing to pay $10 for one, there’s no point to doing it as a business.

By all means, if it provides you with personal satisfaction and you feel the cost is fair, do it. Otherwise, forget about it and move on to a business idea that does have profit potential.

Professional and service businesses can be real dead end traps if you don't have a clear business model set up. If this is the kind of business you’re starting, C.J. Hayden explains how to set up profitable business models for such businesses in Is Your Business Model Broken?

4) Not doing enough research.

Your business plan is only going to be as good as the research you put into it. To answer the central question of "Will this work?" you have to find the answers to a whole cluster of other questions, from "What are the current trends in this industry?" to "How will this business counter what its competitors are doing?" And the more complete the answers to the questions, the better prepared you'll be to either start your new business or shelve the idea and move on.

Every section of the business plan will need research except for the Executive Summary. Fortunately, a lot of the required research can be done online, but there’s no getting around the fact that writing a business plan is a lot of work.

If you're going to be starting a business in Canada, you’ll find my Writing a Business Plan series especially useful because the instructions for writing each section of the business plan include suggestions for resources to help you find the information you need.

5) Ignoring market realities.

You and what you want to do are only one half of the equation of starting a successful business. The market is the other.

I've said (and written) this many many times, but it bears repeating; you can have the best product or service in the entire world for sale but it doesn't matter if no one is willing to buy it. That is one bedrock, non-negotiable market reality.

So it's crucial that you market test your product or service before you try to base a business on selling it.

If you want to sell products, try selling them at local venues, such as farmers’ or flea markets and local trade shows, selling small batches online through eBay or Etsy, using focus groups to gauge interest, or giving out free samples and gathering people's feedback about them.

If you want to sell services, surveys of potential interest or focus groups can work well. Do-It-Yourself Market Research explains how you can do your own market research, including tips for designing surveys and questionnaires.

The competition is another market reality that has to be adequately dealt with in your business plan.

It's not enough to just point out who they are; you need to examine what the competition is doing and explain specifically how you’re going to counter what they're doing to win market share.

And you have to make sure you take into account all the competition. Don't just think of those competitors operating exactly the same kind of businesses; think laterally, too, to be sure you identify all competitors. For instance, a prospective flower shop is not just competing against other flower shops in a particular area; it’s also competing with all the other local businesses that sell flowers, including grocery stores and big box retailers and online flower sellers.

That doesn't mean you have to list every potential competitor in your business plan and explain how you’re going to win the contest with them, but you do have to list and explain how you’re going to deal with the potential threat of each type of competition at least.

6) Not doing a thorough preparation of financials.

When you look at Writing the Financial Plan Section of the Business Plan, you'll see that you need to put together three financial statements;

the income statement,
the cash flow projection
and the balance sheet.

To do this, you need to figure out how much money you need to start and operate your business and make educated guesses about how much money your new business will bring during its first year of operation.

There are two common mistakes people make when they're tackling this section of the business plan.

The first is not being realistic about their expenses. People often leave out expenses entirely or underestimate the cost of particular expenses. Meticulous research will prevent this mistake.

The second is being overly optimistic about your new business's prospects. Of course you're hoping your new business will do well. You wouldn't choose to start it otherwise. But you mustn't let your optimism lead you to create overly rosy cash flow projections. Learn how to avoid this problem in 3 Methods of Sales Forecasting.

7) Setting your business plan aside after you've written it.

If you write a business plan, use it to get a loan and never look at it again, you're wasting most of its value. A business plan is just that; a plan for how your new business is going to succeed.

Treat it as your new business's first planning document and as you move through the startup period and beyond, edit and add to it as necessary. A pair of good first additions to your business plan are the Vision Statement and the Mission Statement; creating these will solidify your goals and make sure you don't get sidetracked.

Your original business plan will also be a useful reference document when you’re doing the ongoing business planning running a successful business requires. For instance, see Quick-Start Planning for Small Businesses for instructions on how to create an action plan for your small business.
Remember Not Every Business Plan is Worth Finishing

The answer to the central question, "Will this work?" is not always positive.

And that's fine. It means the business plan is doing its job of showing you whether or not a business idea is worth doing and saving you potentially huge amounts of money and time.

But usually this discovery occurs during the course of working through a business plan, not at the end. And that's the time to quit developing that particular plan.

If you discover, for instance, that the market for your proposed product is saturated while you're working on the Competitive Analysis section of the business plan, there's no point in carrying on and going to the trouble of preparing financials – that horse won't run and your time is much better spent coming up with another business idea that may be more workable.

Perseverance and determination are great traits for entrepreneurs to possess – until they turn into foolish persistence and keep you from accomplishing what you could be accomplishing. That can be the worst business plan mistake of all.

Read more about Businesses in Nigeria, and Start up Tutorials on:

www.WealthResult.com
Entertainment / How To STEAL Plenty MONEY In Nigeria (N20M Daily) by cameronese(m): 3:17am On Sep 09, 2012
Places in Nigeria where you can steal plenty of money and become wealthy. Different means of rubbing people off their money on a day light rubbery without being caught, etc. Don't ever think I'm joking, am not...

http://www.wealthresult.com/2012/09/how-to-steal-plenty-money-in-nigeria.html






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Music/Radio / Re: Square Records Drops May-D From Label by cameronese(m): 1:41pm On Aug 21, 2012
Well God is in control
Celebrities / Beyonce's UN Video Inspired One Billion Messages by cameronese(m): 7:10am On Aug 20, 2012
UNITED NATIONS: A music video by pop singer Beyonce helped inspire one billion messages for World Humanitarian Day on Sunday, which the United Nations said was a social media record.

The singer recorded the music video, "I Was Here," for the UN campaign to generate one billion messages encouraging people to do a good deed.

"The World Humanitarian Day 2012 campaign has made social media history by sharing more than one billion messages of hope," the UN said in a statement.

The UN launched its campaign on August 2 to collect the messages, which were distributed on Sunday in honor of humanitarian workers.

The campaign numbers around the world soared after the release of Beyonce's video on Saturday and the message spread rapidly among her fans.

Valerie Amos, UN under secretary general for humanitarian affairs, praised the "amazing work" of the singer in taking the UN's cause further...

Source: http://www.ovation.com.ng/2012/08/beyonces-un-video-inspired-one-billion.html
Politics / Re: A Ghanaian Woman Forced Son To Eat Human Faeces by cameronese(m): 9:26pm On Aug 19, 2012
The worst part is that the faeces was his sister's. Life long humiliation, how can a woman be such heartless? but I know from experience that Ghanaian women are capable of such
Politics / Re: A Ghanaian Woman Forced Son To Eat Human Faeces by cameronese(m): 8:54pm On Aug 19, 2012
redsun: You mean an 18 year old baby!How could she have manage to force a young responsible adult to eat faeces? Is she a wrestler

8 Years Old son, man 18yrs old was the driver who tried to rescue him
Politics / A Ghanaian Woman Forced Son To Eat Human Faeces by cameronese(m): 8:25pm On Aug 19, 2012
A KUMASI Circuit Court presided over by Mrs. Rita Agyeman-Budu has remanded into prison custody the woman who ordered her eight-year-old son to consume faeces a few weeks ago at Bohyen, a suburb of Kumasi.

Afia Nkrumah, 40, a petty trader aka Afia Serwaa also known as Afia Patience, is a native of Abetifi in the Eastern Region of Ghana but resides with the victim at Bohyen. She pleaded not guilty to the charge of torture and degrading treatment, contrary to section 13(1) of the Children’s Act, 1998 (Act 560). The suspect is to reappear on August 22, 2012.

Presenting the facts of the case to the court, Police Chief Inspector P.Y. Bebli said the complainant in the case, John Addai, 18, is a driver’s mate living in the same vicinity with the suspect.

On August 4, 2012, at about 8:30pm, Victor Adomako- Bamfi, a witness in the case who also lived with the suspect at the same house, heard her shouting on top of her voice saying, ‘Swallow, swallow’.

The police prosecutor said the witness initially thought that the suspect was giving her son a medicine to take so he ignored the gesture until he heard the victim crying persistently. He said when the witness got to the scene he saw the victim with a black polythene bag allegedly containing the human excreta whilst the suspect was still beating him with a wire asking him to swallow what was in his mouth.

The complainant heard about the incident, confronted the suspect and rescued the victim from her grip. According to the prosecutor, in the process of rescuing the child, the suspect attacked the complainant, leaving a mark on his right eye.

A complaint was lodged at the Suame Divisional Police Command and minutes later the suspect was arrested to face the law. In her caution statement to the police, she denied the offence but was charged after investigations

Source: http://www.ovation.com.ng/2012/08/a-ghanaian-woman-forced-son-to-eat.html
Business / Re: Hotel Business In Nigeria: Choosing A Location by cameronese(m): 2:30pm On May 13, 2012
First, you need to know the type of hotels to invest into in Nigeria.

This article will help you decide which type:

http://www.wealthresult.com/2012/05/tourism-types-of-hotel-business-in.html
Business / Re: Nigerian Entrepreneurs Worth Admiring by cameronese(m): 12:40pm On May 13, 2012
Politics / Re: Obasanjo, Tinubu can lead Yoruba –Bishop Adebiyi by cameronese(m): 11:07pm On May 12, 2012
Computers / Re: Mtn Hynet--- by cameronese(m): 7:48pm On May 12, 2012
Computers / Re: Mtn Fastlink, Mifi Or Hynet For A Mini Cafe by cameronese(m): 7:44pm On May 12, 2012
Music/Radio / Re: Dbanj's Oliver Twist Single Is No1 On UK Urban & Dance Chart by cameronese(m): 8:54pm On May 11, 2012
So...?
Celebrities / Re: Don Jazzy Replies D'banj - 'I Wish You Well Son' by cameronese(m): 11:12am On Apr 27, 2012
Don Jazzy, is a Nigerian Multi award-winning record producer, singer-songwriter, musician and CEO of Nigerian record label Mo' Hits Records founded in 2004. Born in Umuahia in Abia state, his first signing was D'banj who is also the Vice-President of the label.
Business / Re: Free Gifts And Free Business Updates. Follow @dripstoil by cameronese(m): 2:14pm On Apr 05, 2012
Free stuffs for the first 10 to follow today
Business / Re: Free Gifts And Free Business Updates. Follow @dripstoil by cameronese(m): 3:20pm On Apr 04, 2012
Less I forget, I will be giving my Information Leverage eBook free to the first 100 persons to follow me on Twitter

Ckeck your number when you follow cos I will ask you the number.
Business / Re: . by cameronese(m): 3:07pm On Apr 04, 2012
Business / Free Gifts And Free Business Updates. Follow @dripstoil by cameronese(m): 2:38pm On Apr 04, 2012
From Monday 9th April 2012, I'll be Tweeting some Great Business Ideas and other Stuffs.

My Intention is to assist as many people as we can to start some business this year. I will also be giving some free items.

We're currently sharing some business ideas on WealthResult.com

You don't have to pay anybody to learn how to do good business, our objectives is to put sycophants out of business.

Follow me on Twiiter to get futher updates. My Twitter handle is @dripstoil
https://twitter.com/#!/dripstoil
Politics / Re: Full Translation Of The Latest Boko Haram Video: by cameronese(m): 2:08pm On Feb 08, 2012
Sometimes, I just find it difficult to reconcile muslims claim to be "peace-loving" with the violence that comes from muslim world.

I think it is said "By their fruit you shall know them"? If I claim to be peaceful but produces offsprings that love violence, I think my claim should be put into question?

Just asking,

3 Likes

Politics / Re: Full Translation Of The Latest Boko Haram Video: by cameronese(m): 7:53am On Feb 08, 2012
It was on channels too
Politics / Re: Full Translation Of The Latest Boko Haram Video: by cameronese(m): 10:10pm On Feb 07, 2012
^^
Must every post be accompanied by a link from news website. As if na only news people have access to information.

Well, it appeared on NTA
Politics / Full Translation Of The Latest Boko Haram Video: by cameronese(m): 9:22pm On Feb 07, 2012
''Greetings to you and greetings to fellow Muslims and thanks be to Allah. This is a message to Goodluck and to the CAN president. Alhamdullahi, we are known as Jamatu Ahlis Sunna Lidda'awati Wal-jihad, which some people derogatorily refer to as boko haram. We have said all that needs to be said and everyone has seen what the security personnel have done to us. Everyone has seen why we are fighting with them. We hardly touch anybody except security personnel and Christians and those who have betrayed us.

Everyone knows what Christians did to Muslims; not once not twice. Why I’ve come out to explain myself is because of the explanation Jonathan and the CAN president gave on us, including the various versions people give about us that we are like cancer (a terrible ailment) in this country called Nigeria. No, we're not cancer, neither are we evil. If people don't know us, Allah knows us.

Everyone knows what happened to our leader. Everyone knows what wickedness was meted out to our members and fellow Muslims in Nigeria from time to time in Zango kataf, Tafawa Balewa, Kaduna, villages, Lanngtang, Yelwa shendam. Different things were meted out to Muslims in this country.

Everyone knows that democracy and the constitution is paganism and everyone knows there are some things that Allah has forbidden in the Quran that cannot be counted, even western education.

We have stopped everything apart from saying we should stay on the path of truth and peace and live right in the sight of Allah. There, we will have peace and that is what we have been preaching and because of that they said we should be killed and our mosques destroyed. We decided to defend ourselves and Allah has said if you follow him, he will give you strength.

That is why Jonathan, you should know that this is beyond your power. It is not our doing but that of Allah. It is beyond you. Wallahi, what you are seeing is like you have not started seeing anything. Before Allah created the earth, he knew what was going to happen and he has promised in the holy book that he will help his religion. It is beyond your power. What you see has been happening, Allah allowed it because you have refused to follow him and you have betrayed his religion. That is why Jonathan, this is beyond your power-yes. If a few in your Government say nice things about us, it is not surprising-it has happened many times -our hands are clean.

Anybody that says he will not follow Allah, even if he loves us, Allah has not said we should love such a person. Allah has said we should show such person the right path and embrace such person.

You CHRISTIANS should know that Jesus is a servant and prophet of Allah. He is not the Son of Allah. This religion of Christianity you are practicing is not a religion of Allah -it is paganism. Allah frowns at it. What you are practicing is not religion.

Aside that, you Christians cheated and killed us to the extent of eating our flesh like cannibals! You did all you wanted to us. We are trying to coerce you to embrace Islam, because that is what Allah instructed us to do. Even at that, without provocation, you slaughtered us and took our wives and humiliated us. Now you CAN president, you come out to say your people should come out and do whatever they want to do. Any right thinking person knows what you mean, any right thinking person knows what you're saying. This is why as leader of this sect I tell you to repent and to you Christians, repent. This path we're taking is Allah’s path.

Fellow Muslims, understand us. Our objective is not to kill or humiliate or steal. This explanation has become necessary, even if I don’t need to explain; I can decide to keep mute because the person I love to know me like this is Allah. I have no objective than to help the religion of Allah. That is all I can explain. But if you want further explanation, we have tapes you can listen to and know our objectives.

This is also my message to the President of Nigeria, Jonathan, who has come out to say negative things about us and also a lot of harm to us- Allah has given us victory and we have done what we want to do. This is almost 11 years our members are being killed. Anything people want to say or do, we say enough is enough. We serve Allah and we do not harm anybody, but anybody that looks for our trouble, we'll face such person or persons. We follow the tenets of the Quran and anybody that thinks he can fight Allah shouldn’t think his prayer or praying in the Mosque could save him.

Any Muslim that cheats and hides under the cloak of religion, if we know such person, we won’t hesitate to eliminate him. Yes, I’m saying so because it doesn’t take 5 minutes to kill just as we're being killed. We follow the teachings of the Quran. This is what Allah has told me to explain. Allhamdulillah!''
Religion / Re: Valentine Celebration Is Forbidden In Christianity by cameronese(m): 10:15am On Feb 05, 2012
Whatever thing You do, make sure you share something meaningful with others.

Instead of eating away, give some to those who are in need. Everyday is Valentine
to those who understand the value of life.

Cherish what God has given you and make life worth living, both for you and those
around you.

In my effort to curb the menace of those who claim to know how to make money
while in reality they actually know nothing, I've created a platform where we can
share Good Business Tips, where everyone will learn without paying.

The site is: WealthResult.com. Go there and share whatever business knowledge
you have. If you have non, seat back and learn.

Happy whatever (good) thing you believe!
Webmasters / Re: best BULK SMS provider in Nigeria ? by cameronese(m): 10:06am On Feb 05, 2012
I have just written a blog post on bulk sms business

check the site on my signature
Business / Re: Multi Level Marketing.how Frofitable Is It? by cameronese(m): 7:38pm On Feb 04, 2012
Multi-level marketing is not a business any serious thinking person should go into.
Business / Re: Nigerian Banks: I Think Gtb Is The Most Customer-friendly! by cameronese(m): 5:27pm On Feb 04, 2012
GTB Is good, that's the bank I've been using more consistently for about four years now.

However, they get funny at times - especially for online transactions. Recently, I attempted
to renew my Norton Anti-virus using GTB Mastercard. Norton delined the transaction and GTB
Held up my fund for 30 days!

It seems they aren't following the trend and dynamism of internet money transaction. Having
the tech is one thing, following the trend and adapting to changes is another thing.

UBA Is the most idiotic bank I've ever seen. I closed my current account with them last year
after they isseud ATM to unknown person on my behalf who withdraws N110,000. Though
they paid, but I don't like such lapses.
Properties / Re: "Lekki Gardens Estate" How Genuine Is It? by cameronese(m): 4:11pm On Feb 04, 2012
I'm not just interested in Lekki for any reason. Mainland is just perfect for me.

My Ikeja GRA, I can't trade it for any Lekki

3 Likes

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