₦airaland Forum

Maa-sha Allah! Ramadan is fast approaching.

Bestlyf: Thanks. Great tips.

Thanks for your comment,it encourages me to do more. I will be posting more business tips soon.

Get your own domain name registered.

Jarus: Nice topic.

I opened my first blog in 2009. It was basically to archive my political and other writings. I write many political and related articles, close to 30 in a year, published in newspapers. I realized the articles were scattered and didn't have them in one place. Sometimes I needed to google them to find. Some I don't know where they are today. So I decided to open a blog in 2009. I now have over 100 articles there.

Later, earlier this year, I realized career is another aspect I have passion for. I have been active on NL career section since 2008, and I realize readers respect my opinions on issues. Also, in real life, I do advise a lot of younger folks on career and education. All these motivated me to open another blog to focus on career and mentorship. I enlisted a couple of respected friends to come write for the blog. I'm trying to poach Ajanlekoko and Debosky from NL career section too. Unlike my political blog, which is just to archive personal opinions, my career blog has a bigger perspective, beyond me. So I decided to give it better publicity. I did a little research and checked similar niche bloggers in other climes. My aim is to make the blog a go-to for articles and analyses bordering on career and mentorship in Nigeria.

I want to be to career what Linda is to entertainment and Sahara Reporters (though not a blog, but a news site) is to politics. I believe I have what it takes. The major constraint is, as an 8-5 worker, its not been easy for me. But I know it's a matter of time.

Unfortunately, entertainment is what sells most in Nigeria, so Limda, Bella and co are the biggest crowd pullers. In the process of researching I met an American blogger. What he blogs on is Christian Personal Finance. So narrow a niche you may say, but believe me the blog turns traffic in US and he now makes close to 1m per month.

I don't reckon with bloggers that have less than 70% of their blog content as original. 95% of my blog content is original. Many bloggers are just copycats.

In other climes, you can blog on anything and make a name and money for yourself. Huffington post is world's no 1 blog, followed, I think, by Mashable.

Beyond the Linda-wannabe entertainment copycats, there are however a few Nigeria blogs that are doing fine. Jide of ogbongeblog.com is one of them. He blogs on tech and related stuffs. He is one of the few original-content filled blogs and his concept is creative.

Overall, I still believe Nigeria is underblogged.

Nice write-up.

DONT s

20) Don’t start big! You may kill the dream of staring the business if you have the mindset of entering the industry with a bang. If you have too much to start with,you may not achieve much.


21) Don’t start business you have little or no interest in. You will give up easily if the expected profit is not coming soon. Passion and interest prevail when money is not coming yet. Leave it to passion, persistence and skills. Money will catch up with man. Money has four legs, man has two legs.


22) Don’t start business when you have a capital consuming projects at hand. Temptation may make you borrow from your business capital to those projects,and you may not be able to refund it back to the business pocket.


23) Don’t start the printing of the business stationery, business cards and souvenir until you at least register the business name. You can register your business name or company with Corporate Affairs Commission or any other government bodies that regulates Business and Corporate matters in your country.


24) Don’t get too much loan ( If you must get one) but I suggest you avoid loan in starting a new business, you may take loan when the business is thriving and you want to expand your business. On the other hand, obtaining loan to start new business sets standard for new business owners on how to handle their finances responsibly.

In a nutshell, loan obtained must not formulate 100% of your start-up capital, you should raise some fund by yourself and get little loan to make the start-up capital. In my opinion, starting your own raised capital is the best.

Federal and State Governments do offer grants, loans and other financial support through different programme and initiatives to encourage entrepreneurship spirit. Find out in your local & State Government in your Country for these benefits.

25) Don’t invest all your start-up capital at a go. Earmark certain percentage to test run, do not assume your business will be successful from the start.


26) Don’t start new business when you are newly married and vice versa. If you want your business to succeed and you want you matrimony to last forever, please take this advice. Matrimony and Business are two factors that need a lot of attention at the early stage, and if the attention needed is not given, you may lose one of them and sometimes both. Do not start enter both marriage and business at the same time.

27) Don’t hire who you can’t fire. Do not hire on compassionate ground. That is why some Entrepreneurs won’t employ friends and relatives,unless they are reliable. Keep business away from friendship,if your friend is not able to deliver or he is not reliable,fire him. That is why you are the Boss!


28) Don’t spend the capital set aside for taxes, salary of employee and running of the business on any other thing.


29) Don’t have intimate affair with any of your employee. You may drag yourself into pool of troubles.


30) Don’t feel you can do it all alone. You cannot be perfect in all areas. Accountants, Business lawyers, Consultants are better in their area of discipline. It will save you a lot of worries and stress. They are out there to offer professional services.


31) Don’t be rigid. Give your employee the chance to open door policy. They may have brilliant suggestion or advice you least expect from them.

I want to believe you gain little or more knowledge of starting and running your own small business in this post,and it would be more useful if you also share the resource with other people. I welcome comments,observation and criticism from all members of the house,you may also check my new webpage http://www.mybroadstreet.com/40-business-essential-dos-and-donts/ where I will be posting more about Entrepreneurship,Start-ups,Leadership,Investment,Biz news+events,etc. you may also drop comments for me there
I wish the very best as you embark on the journey of unlocking your potentials.
ciao!

Are you on the verge of quitting your paid employment or you are just tired of roaming the street for unavailable employment opportunity? are you trying to start your own small business after graduating from school or you about changing your business?

if you answer YES to any of the questions above, please do not make the decision yet, unless you know how the game is played in the real business world. It may be too dangerous for you to quit your job or gamble with the capital you struggled to raise if you don't understand the rules of the game.



Now,let me share few DO s and DONT s of small and medium scale businesses with you. I am offering you golden rules of starting and running your own business, but I would be fulfilled if you could also share it with other people.



DO s

1) Plan before starting a business. Write a business plan. Outline what the business is about,how you will manage the business,how you will source for fund,how to share profit,expansion,selling out the business, etc.


2) Have a clear and achievable dream. Be sure of why you are starting the business,your goals and how you will make them.


3) Know your customers. Have a specific audience target,not trying to satisfy the public. Who are the set of people your product or service will satisfy most? The students, youth, elderly, workers,self-employed, unemployed, senior citizen, government worker, professionals, middle class,high-class, low-end earners, etc. Target your audience and design a means to reach them.



4) Register your business with the corporate affairs commission and other regulatory bodies in your area of business.

5) B[b]rand your business.[/b] The name,image, colour, slogan plays a major role in attracting your potential customers. Brand your business name that will attract people,call their attention and explains the nature of your business. Like
Plates&Spoons Kitchen or Mama’s dish for a restaurant name,the name explains what the business is all about.

6) Network your business. Register to your local chamber of commerce,association and other trade organization. This will give you the opportunity to meet and share experience with other people in your area of business.

7) Open a separate account for your business preferably savings account ( No bank charges) but as the business grows, you may open other account such as Current account (Cheque account) because of its added service,but you will be paying for bank charges using this type of account.

Keep proper record: stock, income, expenses, profit, taxes, salaries etc. Financial document of your business is the result of how your business is doing. It is just like when you were in primary school, you collect report card after the end of a term and end of session. This card details the subjects you took and your grades. In business,your financial document is your report card,it details how your business is doing, it will give you sign whether you are on the right track or failing.

9) Encourage your employee. Give them bonuses, rewards, awards for excellent
performances; and they will do better.

10) Operate on an open door policy. Let there be free flow of communication and information within your organization and employee; give them the opportunity to partake in the decision making.

11) Advertise your business. Let your business be known to people by making adverts and commercials through print & electronic media,word of mouth, classifieds, etc. If you cannot afford the TV/Radio advert,online is the cheapest way of advertising your business through Social media network(Facebook,Twitter,blogs,forums, etc). You are wearing an advertised cloth, you are reading this post through an advertised gadgets, so what stops you from advertising what you have and want to give to people?

12) Promote your business. Advertise promotional offers and discount to your customers. Promotional offers, loyalty reward, discount sales, etc are kind of promotion that will increase your customer base and encourage your loyal existing customers to keep faith with you.

I'm Abiodun A.Abiodun. Founder of www.mybroadstreet.com
A resourceful portal for •Entrepreneurship •Investment •Motivation •Leadership •Business news+events

House,
Please what are the kind of investment one could make to get residual income when our bones are weak and lazy? when we can no longer run up and down. when we can no longer travel to seal that deal.

fadekemi: Can Two Hundred Thousand (200,000) nairastart a good business in Nigeria? Can someone answer and enlighten me please?

200k is more than sufficient. Capital is the last thing to think about after dreaming,knowledge/skills,planning,interest,and courage.
You can start
*mini importation: Phones/Phones accessories,computers,clothing etc
*Food business

GboyegaD: What I said are based on my own opinion oooooo however, the original one is very good for the embassy while my additions are for the SOP to the school you are applying to.

D one I posted is for d embassy not skool.

[quote author=Lord_Reed]The fashion business is very fickle & finicky and it requires a very large dose of people skills. I know how people treat fashion designers so I will advice you to begin to compliment your customers even more than they deserve. For instance if say a plump woman comes and you do something for her, when she's trying it out make effort to show her how much the clothes compliment her, believe me her complaints will be less. We all know that fashion is all about others looking at the wearer if the wearer perceives that the clothes leave something to be desired the cost of the clothes notwithstanding he/she will be dissatisfied with your service.

Another thing you should consider is do they all have the same complaints? If they do you'd need to either work on your skill in that area or get someone who does it better than you.[/quote]Nice tip

Godmother: @ Newacca

I'm into Fashion and make-up business. I dnt get complaints from the make-up, just the fashion. And I spent about 10 months training for it so I have some experience. I have been sewing for over a year now.

@ Daddy

I dnt even need to create an avenue as they give me their feedbacks without me asking. Lol

@godmother,
IMO some experience ain't enough,u need brilliant skills.I like ur industry as my wife is also in d industry though she jst completed her foundatn Diploma in Fashon but she had learnt d basic skill as apprentice for 1yr b4 d Diploma again. I'm on mobile right nw,when I get on my PC. I shld b able to offer detailed suggestions,advice and recommendatn. Passion n interest prevails when our biz is facing hard times. Keep d dream alive.

Godmother: I am going through such a trying time in my business right now. I'm getting unsatisfied customers a lot. It seems like for every 3 customers I get one leaves not too satisfied. I'm new in business n whatever effort I put in to change this isn't yielding much results.

I need a word of advice/encouragement from business owners who have gone through a similar experience before I loose my mind!

Tough times don't last,tough people do. what kind of business are you doing? is it a service business or product biz? do you have little knowledge about the biz in your into?

nicemax: @newacca, please I would like to have a copy of ur letter of intent and also the questions u were asked by VO . Kindly forward it via my email address below.

Nicemax38@yahoo.com

All those who need letter of intent,please try and check Part2 or 3 of this thread. I think [b]@earthgreener [/b]uploaded one sometimes last year.
Honestly,I don't have a soft copy of the letter. More so,writing one ain't a biggie. Please guys,let us learn to do some things by ourselves. Letter of intent could best the fashioned out by yourself,since it is all about you. Let me give you guideline:
1)Introduce yourself: Little into about urself;your name,age and profession
2)Your academic qualification: Academic qualification+ any professional accolade
3)Objectives: what you will benefit in studying in Canada
4)Reason: why you want to study in Canada and why you chose the intended institution
5)Financial capability: mention how you will fund your studies (sponsored or self sponsored) and how the fund will be available to you. Emphasize on the capability of ur sponsor n his willingness. If you are self-sponsor,emphasize on ur capability,how u get d money n how it will continue coming even when u r outta 9ja
6)Family tie: Let 'em knw why you will come back home. abt dat ur loved family,about dat ur wifey or fiance/e as d case may be. tell 'em abt dat ur properties,about d job prospect of ur intended course,about d future of ur biz if u r self-employed.
Shikenah! Make sure u make it easily readable and straight 4ward as much as possible. 1page of A4 shld be enough.
I wish you all the best.
ciao

Onye oma: Letter of intent is an added advantage ßuђ not mandatory...
If for instance,you were very detailed in answering the questions asked in the questionnaire form,i.e. Why did you choose your course of study?
That settles the issue of letter of intent.

I advise you write a letter of intent,like a page(it is very possible that a VO can come across a line or two that'll spark up his /her interest in ur application), you can never be denied TRV cos you submitted a letter of intent alongside with ur application,ßuђ you can comforatbly be denied a TRV cos you didn't express urself and intentions for intended program well enough.

Also,going by the latest development @ CDHC, invitation for medicals is normally between the 7th-8th week, urs is gradually taking longer than expected.
I advise you allow this week to elapse and by mid-next week,if you don't hear from them,you can do them a mail of inquiry about the status of ur application.

Exercise a lil more patience ok...

Very correct. I think it's the letter of intent that sparks the VO to call me for an interview.she wanted to be sure of my study intention and genuineness. cos I have 6yr gap in my academic career b4 intending to study in Canada. She logically asked some questions around the letter of intent.

Moshood Kashimawo Olawale Abiola omo won ni Egba Agura labe olumo. Odaju ni'ku. Ile n je'yan. Your death didn't come as a surprise to me, cos conspiracy and assertion have it that title holders of AARE ONA KAKANFO don't die peacefully or die at their homes. They mostly die as MARTYR
Memory of June 12 lives with us.

[quote author=2-chains]I just got called for my medical guys!!!!! I'm so shocked!!! I submitted my application online on April 26th I'm soooo happy.[/quote] go for d medics. sharp!!! congrats.

earthgreeners: BETTER LATE THAN NEVER


I SUBMIT MY CASE TO GOD>> I DON TRY MY BEST


LET THE TRACKING BEGIN

I wish u all the best Bro

@nicemax
Do you have any question or advice for me?

Godson201333: Bro you went in for masters she is going for UG,she will still go through studien kolleg and thats never taught in English,You can only be taught in English when going for masters/bachelors never for Under graduate...

Is Bachelor diff 4rm Undergraduate in Germany or u mean pre-bachelor?

teapea8484: yeah i know but will dey call my sponsor ?

YES! CDHC will verify from the bank,and the bank will call the account holder before confirming the statement to CDHC.

bullstriker: Tanks so much guys@kenniy,Newacca and Djay.
Newacca,hw far about your treatment,hope u would be cleared to join us(fall hopefuls)

Bro. I am due to complete the treatment come end of this month by God's grace.

bullstriker: @all, finally,i received my first medical call after 3 denials in 2yrs.i submitted on 5th april.i give kudos to each member of this house,especially to oga Siga whose contructive critisms and input made my letter of intent outstanding;thats the only doc that was absent in all my previous applications.
where is mercylicious,xtus, et al who has been denied twice or more,u can still get it.

Man! Congrats It's deserving victory.

kevoh: Certainly going to be used for a presentation or a seminar of some sort for about 80 to 100 women. Can't imagine any sane woman using that.

exactly my thought

wahabcoal: Bro, as if i knew the PM might not work, i sent you a PM, can i have your mail or number?

maplelandnewacca@yahoo.com

ferdimako: No, am going to Australia.

Nice one bro. I wish u all d best. How far abt ur Aussie runs?

ferdimako: Yeah.

Ain't u going to Canada again or u are making this a Plan B? Any which way,I wish you good luck Bro.

VCTROKOYE: Any Humber person here? Pls how did u pay ur tuition fee?

I applied to Humber but I haven't been directed to pay tuition fee and I have not paid.

ferdimako: Yeah, he got admitted to a University already (that is being delayed although he must send them his hard copies of his documents by June 21 if he is interested) but he's awaiting the more important one this June.

British Council is vexing me right now! No IELTS Notice, no Speaking session date.

were u @ d Travelling to Canada thread?

[quote author=val_dubem]I thought I ѕaw '' I invest in human рartѕ.'' [/quote]Lol. I invest in knowledge,skills,training.

I am an Human investor. I invest in human being The best decision. Let's invest in education: Financial education!

Bro,
As good as the Transportation biz is,Drivers may kill the biz for you. Even leasing out on hire purchase,they have their ways of cooking story,and if thing goes wrong,you are at the lose end,cos your investment(Bus) could have depreciated in value. Remember,you are investing 1.5M which you didnt get so cheap. Honestly,it is really dangerous to invest all the 1.5m at a go. I learnt from Warren Buffet's investment tip: "Never test the depth of a river with your 2 feet" There are investment that requires lesser capital to bootstrap and then invest more later,when you are getting your income as expected or beyond. (daily income must be considered as you stated)
There is one quote I learnt in the business&Investment world;put your money where your mouth is. Do not invest your money where you won't participate. It's not always good to be a passive investor.
Now my suggestion:
Firstly,Think about essential needs of human being. The problem we are facing to satisfy the needs and what add value to our lives as human being;then come up with solution to solve the problem(needs) and give it to us. The formular may sound difficult to solve for you right? NO! Start from the basic essential human need:
1.Food
2.Clothing
3.Shelter
4.Security
5.from my own view,I added Information.
Around these phenomenon,human life is shaped. They need it everyday and every time to survive.
Let me break the tips down and be precise about which the biz dat brings DAILY(steady) income.
1.Food Busines[/b]s: We eat everyday. If you are good at it or you have safe hands that could do it for you while you supervise,your daily income is assured,irrespective of any area you are. You may consider either cooked or raw food. But I think cooked is more profitable(just my view though)

2.[b]Beauty Business: Barbing&Hairdressing salon. You may chose any of it or both. But as I am Man,who is also an apprentice at a Barbing salon,I am more familiar with the male Hair salon.

3. Recharge cards

These are the few amongst numerous business I could list for now. I will be post more in one of my post on my blog in some days. You will be able to see more of the businesses plus how to start and get it going.
I wish u all the best.
Ciao