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While you'll are here reading this pls don't forget to up your personal finance game. Be financially free.

https://myfinance.com.ng

Finance, saving, debt management investments, how to.

While you'll are here reading this pls don't forget to up your personal finance game. Be financially free.

[url]Https://myfinance.com.ng[/url]

Finance, saving, debt management investments, how to.

https://myfinance.com.ng

Fast growing personal finance blog in Nigeria

#Thread.

There are three broad ways you can make easy money in Nigeria. Easy is relative though.

1. Trading: Fact is we are a consuming nation. It is idealistic to think we should get into manufacturing and production and all that nice talk but when the chips are down and you need money quick, just buy and sell something. Anything. And it is as easy as buying from one part where there it is low in price and selling at another location or medium (online as an example) where price is high.

2. Selling Knowledge: You know something others don’t know. Sell it. You have experienced what others haven’t experienced. Sell it. Let me show you how. Your question is what business can you start with N20,000. I could start a training or master class or whatever else it is called these days on How to start a business with 20k and charge 2k for the class. A few Facebook Ads or flyer distribution around where my potential customers are and I am in business. People make money teaching people how to hustle than actually doing the hustle. (Think hard about this).

3. Services: Set up a car wash business by first washing the cars in people’s home (no set up fees), sell packaged food, offer home hair making services, become a middle man for a watch repair service or a phone repair service. Services are an excellent way to make money as you don’t usually have to put up a lot of money to start and customers usually pay as soon as the service is used or sometimes even before the service is used.

I think making money is a mindset and while you sure need some money to start, identifying the market gap and not fearing failure will get you farther down the business success path than a pocket full of cash will.

https://myfinance.com.ng/profitable-business-ideas-in-nigeria-with-low-capital/

In your own thought, what are the profitable business one can start in Nigeria with a low capital

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Written by Okonkwo Chisom.
https://www.myfinance.com.ng/what-you-need-to-know-before-starting-a-business/


What You Need To know Before Starting A Business
As an entrepreneur, the success of a business is attached on several factors. Entrepreneurs tend to start a business without having a core knowledge. This make them not understand the risk and time connected with starting a business and its success. Having read books written on success stories on entrepreneurs and associated with few, I have learned a lot. I am willing to share that with startup entrepreneurs.
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Does a successful business require 9-5 work day?
This is the first tip I will handle on this post. For a successful business an entrepreneur should forget the concept of a 9-5 work day. Why? You may think that a successful business require time and work, yes it does but one should understand that having a good relationship with workers and clients is the key to successful business. It is not necessary to work 9-5 everyday. Within the 9-5 work day you can host lunches and calls with clients fostering good relationship. Starting a company thinking that all responsibility will be handled in an 8-hour day, it may not be a good decision. The next tip, which is hiring the right people.

Hiring a solid operation team or manager.
Many entrepreneurs have failed in their business because of bad composition of team. Having the best operation team/ or manager is the best way to tackle a failed business. Your team should be able to manage and ensure that the company processes are done effectively. Without a solid and effective team, inefficiencies within each department will end up costing much for the entrepreneur in the long run. This should be taken not of before starting a business.

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Having a good attorney can also help.
A Startup business success varies from industry to industry and from founder to founder, but leading with integrity, honesty, and hard work will never bring a failure to your up and running company.

Before starting a business, have in mind and also consult an attorney to ascertain all regulatory and compliance risks – not everyone is aware that sometimes their line of business is subject to some form of scrutiny. Find a licensed lawyer, and still make every effort to consult a legal team as often as we can. This is especially important in an industry as new as marketplace lending.

Leaders in this vertical understand that eventually, someone is going to fund a loan they shouldn’t, or comprise their user’s security — which will lead to tightened industry regulations. Preemptively taking routes to ensure user security and company compliance is the best way to make sure that your company will be able to withstand the test of time.
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Meet other Entrepreneurs and learn from them
Meeting with other entrepreneurs will help you in ascertaining what is needed to grow your business. Investigating on reasons why an Entrepreneur “A” failed in his business can guide you on not making that mistake and further push you away from failing. Also learning and practicing what other successful entrepreneurs does make you likely to succeed in your business when you start. Try to even make their survival strategies modern, what do I mean? Try improving on their success strategies and then use it on your business
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Another way to do this is by sharing stories with other entrepreneurs, Whether you’ve just raised a seed round or had a great month of winning new customers, be open to sharing about how you did it, as well as some of the setbacks you experienced along the way.

Often, when you share your moments of success with entrepreneurs, you’ll form beneficial relationships where you exchange ideas, and learn from each other’s successes and failures. Ideally, these relationships will help to speed up your entrepreneurial learning curve and will allow you to experience more success as a startup.

The last two paragraphs should be when you have started, but you can still use it as this will help you on succeeding. Hope this article helped?
Source https://myfinance.com.ng

People often ask what the next big trend will be, and when this thrown to me my answer is usually, “I have no idea.” It’s a little like asking someone what the next winning Lotto ticket will be or who will win the world cup.

Any Entreprenuer is seen as person who is in a creative industry. And if you’re in a creative industry, you should be creating trends, NOT following them! Only lazy people follow trends. Today I’d like to remind us all how to be our own trendsetters:

1. Trust in your ability to create. Creativity means letting yourself make mistakes. On more than one occasion, I’ve made a “mistake” that turned into a trend.

2. Take every single design you do, and think of three ways you could do it differently.

3. How many times have you seen a trend and thought, “Dang! That was my idea. I should have done that.” Trendsetters not only come up with ideas, they also ACT on them. If you have an idea, do it!

4. Have the courage to stand by your ideas. Some ideas come before their time.

5. Keep it simple. Great trends usually follow good old fashioned common sense. Most people follow trends that make sense.

The wonderful thing about being in the wedding and event industry is that every new client and job is an opportunity to create a new trend and do something different. A new trend can also be created to run any type of business.

Dear Nairaland Readers, are you more comfortable as a trend follower or trend setter? Are most of your clients open to innovation or do they prefer to play it safe?

Below is a personal finance site which will help you master all the aspect of your financial life, how to make and manage your money.
https://myfinance.com.ng