Bief:
pay no attention to him my brother, he is just a doubter, some people have been slaves for so long they don't understand or see opportunities for freedom when it knocks.

I won't sir. It will be a waste of time to do so.

agitator:
It is quite sad that someone who cannot put is thought down coherently would post trash on a public forum like nairaland. Anyway, as he said it is his opinion.

. I won't expect less from an AGITATOR. I know one to be a rebel and loser who do nothing but to stir bitterness and engender division.

agitator:
You mean some people so much believe the trash they think about and are bold to post it on nairaland.

Belief and Courage sometimes differentiate between a loser and a winner.

RESPECTnoble:
2016 2016

However, am optimistic about 2016

and I also don't disagree with the @op on his "FINAL THOUGHT".

We all should be optimistic, It doesn't cost a thing.

The 2016 Budget, to some, it is an answered prayer, to another it is a thorn in the flesh while to some others, it is like hell was let lose. However, from a school of thought, it is believed that the description or definition of a thing is largely dependent on perception. So, that means whether good, bad or ugly your perception isn't wrong we may just be having a different view.

So, What Are We Looking at Today?

In my post last week, I mentioned few points that justify the high figures of the 2016 budget in my opinion and I got so many reactions from people at a different stance about the matter. Does that really change anything about my opinion? No, rather it did move me to write this complimentary post to buttress my point on this matter. The reality is, consciously or unconsciously the budget is about you and me. It is designed to make some people and mar some other. It is holding in its hands blessings and curses for everyone involved, a combination of good and bad to trade with whoever cares but, what do you see?

If truly The Budget 2016 is presented as the Budget of Change, and it is to focus largely on sustainable ECONOMIC GROWTH, JOB CREATION, INFRASTRUCTURAL DEVELOPMENT and SOCIAL WELFARE PROGRAMME, DIVERSIFICATION of the revenue base from NON-OIL REVENUE, particularly from AGRICULTURE and SOLID MINERALS with N6.08Trillion Expenditure at a deficit of N2.2Trillion and oil price is projected to be $10 per barrel already, there will likely be these three (3) sides to it:

THE UGLY SIDE

In one of the comments I got on my post last week, someone raised a brilliant point about "....companies already declaring losses, shedding staff, people losing jobs, economy receding,....etc., because of the economic situation" and you know what, I share his feelings but not without insight. And in my own view, here are some more ugly things we should expect;

Many companies are likely to be acquired, merged or outright closure due to heavy taxation and excise duties especially on imported goods and services. And if you are a small business owner expect your own portion of this bitter pill too.

Workplace condition will be stiffer and unbearable for many. Jobs will be lost, people will be forced out of work too and lot more worse things are likely to unfold due to the unfriendly weather of the economy for businesses generally.

The country will borrow to run the country and since oil is no longer dependent, they will likely want to look inward such as recovering arrears of collections and dues that have been looted or evaded to run the country.

States and Local Governments are likely to be more strict on the collection of taxes and dues because allocations from Federal purse may not come as expected for same reasons as above and if they want to run their states they have to look inward. My fear here is multiple-taxation.

With focus on Infrastructural development, many illegal locations for markets, shops even buildings may be demolished or advised to move to a planned location to expand roads and other projects structural projects for urbanization.

Things are going to be very hard and people will be the one to determine their own fortune.

THE BAD SIDE

I saw in a short video documentary done by CCTV on Facebook last week showing how people are selling off their stuff. A young man was interviewed and he said "it is due to the economic harshness". A car dealer was also asked, he said there is no much patronage and buyers aren't coming because the economy is bad. Their perception is also true because;

More people may likely sell some frivolous belongings, things that aren't so necessary but just for some fancy lifestyle. Others will barter a lot of personal stuff too just to keep up with life.

Salary may be slashed in some sectors and people may have to cut down on their expenses. In order to have more to spend, many will take to exercising by walking some distance they often take Bike, Keke or Buses to. Others may cut down on frequent visitation to eateries and resolve to have a taste of "Mama Johnny delicacies" to save few bucks.

There may be delay in paying salaries as some business activities will be unpredictable, and employees will tend to want to borrow, take salary advances or patronize money lenders at exorbitant rates.

There may be slashing or cancellation of some benefits due to workers, because cost reduction and monetary value will be the goals of some companies this year.

Inflation rate is predicted to be about 10% with Naira devaluation estimated to be around 10% - 15%. N1000 may no longer buy you so much again.

I can go on and on but let me quickly talk about the next point:

THE GOOD SIDE

“Everything has beauty, but not everyone can see.” — Confucius

Going by the content of this budget, it shows that the governments already envisage these realities and made provisions for ways to make changes without much damage.

The budget will improve the real sectors and make the country a producing nation and not consuming nation.

A number of fresh intervention funds might be introduced to stimulate economic activities in the non-oil sector. Agriculture, solid minerals and SMEs remain key focal points (I hope to make a post on this next).

They indicated intentions to create more jobs, through access to funds for small business startups and direct employment into various key sectors.

The capital market outlook may likely be bearish and if you have ever dreamed of owning a company this will be a good time to buy stocks because price will fall to pick up later if everything goes as planned in the budget.

ANOTHER GOOD SIDE OF IT

This may be the beginning of end to laxity, mediocrity and indolence in our generation.

There will be liberation from comfort zones into deliberate lifestyle focus on responsibility for Nation building and Personal Economic Prosperity.

People will discover their pain point and skills. They will seek for ways to dig out and channel the course of relevance.

This time will force people to take charge of their lives. Many will take life seriously and be self-reliant.

Many CEOs will rise and freelance jobs will be available for different categories of skilled works.

New opportunities will surface and people will be more conscious of it as knowledge will increase.

This may be the time for you to take the leap and start that side business because banks, Individuals and Institutions will be looking for laudable business to invest in and not some hand to mouth ideas.

FINAL THOUGHT

I intend to make this an eye-opener to everyone reading it. I intend to help you achieve Clarity and Confidence to develop Strategy for your PERSONAL ECONOMIC PROSPERITY even in the face of this harshness because I still believe the budget to be a force for the emancipation of a Great You and a Great Nation that we all desire if it is properly implemented in good faith.

I will be in the comments to hear your view.

Thank you.

adeememman:
You can be the hero of our time. As a Nigeria, i know that what is written in that thousands pages book called budget is not as important as implementing every bit of it. Am tired of propaganda, action with results is the only thing that can impress me.

First thing you said that I like. So you know it is implementation that impresses you, why the rush then? Implementation has element of time Or is the person in power a magician? Let us wait and see, we are already seeing some implementation in recovering some loots and if he did not deliver up to expectation we will use our voters card again in 2019. #MrOgaFaraBale.

Oguguah:
Nna You try sha. Its either you are working with the presidency or with APC media and publicity. Otherwise, I wonder how you sacrificed your time to type all these

I sacrificed cuz I want a 'Dummy' to learn about state of the nation. And what have you sacrificed?

yaki84:
at the end of ur epistle u didnt tell us how govt will fund the budget of yamandgoat....2016 version.

Ooh! Sorry, it was never my intention. You can download it on the budget and planning website.

adeememman:

Exactly my thought, i wonder why he carries nigerians concern for head like OBAMA

Partisanship is the very first problem this generation have followed by disability to understand matters beyond their eye balls and itching ears.

In the last few weeks, a lot of scripted and unscripted drama unfolds on the matters of the 2016 budget. The movie received so many views at stage play set and different ‘social-media-cinemas’. The reel projected on Twitter with several hash tags, topical posts and controversial comments on Facebook screens with stockpile of images and infographics on instagram too.

The most interesting of this drama was the #‎BudgetOfYam‬s featuring several young men and women discussing the fraudulent intentions of the 2016 budget. Honestly, as much as I enjoyed the whole drama characterized by these pundits in the public square of the national polity discussions, I still see some comments were based on just the amount involved, especially when it is said to be about 35.4% over 2015 budget which makes it the highest budget so far in history without understanding the narratives.
So, before I get into the narratives I need to make some clarification and definition of terms to avoid misunderstanding of intent and purpose.

Definition of Terms

I use the word "Dummies" as a caption for the class of people that really doesn't understand the underlying factors which led into the huge figure The Budget 2016 carries. I am not saying this is ignorance on their part rather an indication of differences in interests, level of education, exposure, technicalities and discipline. You will agree with me that because you buy a car for NGN5, 000,000 (five million naira) does not mean you know how much each parts of the car would cost if the need to repair or replace any of it arise.

It is simple. You are not an "auto-mechanic" or an engineer, so you can only ask to understand why it cost that much and not begin to criticize the "auto-mechanic" for calling a certain price. So is the case of the 2016 Budget and I will try to narrate it shortly for your perusal after which whatever you decide is completely in your own interest.

I will also like to define the following terms too:

Budget 2016 is presented as the Budget of Change - The 2016 budget focus is largely an initiation of a sustainable ECONOMIC GROWTH, JOB CREATION, INFRASTRUCTURAL DEVELOPMENT and SOCIAL WELFARE PROGRAMME, DIVERSIFICATION of the revenue base from NON-OIL REVENUE, particularly from AGRICULTURE and SOLID MINERALS.

Capital Expenditure - As seen on www.businessdictionary.com - It is an amount spent to acquire or upgrade productive assets (such as buildings, machinery and equipment, vehicles) in order to increase the capacity or efficiency of a company for more than one accounting period. It is also called capital spending.

In our context, it means the budget is targeted towards SPENDING on what will be PRODUCTIVE, INVESTING on ASSETS that will improve YOUR quality of LIFE.

Recurrent Expenditure - The definition of recurrent expenditure in the dictionary is ongoing expenditure of an organization, such as salaries and travelling expenses.

In this context, it shows the MONEY that will be SPENT with no 'Direct impact on YOU' except if you, your family member or parents are PUBLIC SERVANTS, members of the NATIONAL ASSEMBLY or POLITICAL OFFICE HOLDER.

The Budget 2016 Narratives

The total estimated expenditure (money to be spent in the country) is put at N6.08 Trillion out of which N1.85Trillion or 30% of the total expenditure is Capital Expenditure. This will be the first time that capital expenditure budget of the country will be this high.

Meanwhile, N4.23Trillion or 70% of the total expenditure is the Recurrent. This is what this administration proposes to spend in running this country in the current year 2016.

Although, PMB already stated that he will further cut the recurrent expenditure in the coming years to free up more funding for infrastructural development. However, it is important to consider how this administration intends to spend this huge amount – N6.08 Trillion already budgeted as the total estimated expenses for the year.

I will use the terms Recurrent Expenditure and Capital Expenditure respectively to describe the amount allocated to few key Ministries that get the larger chunks of this budget which I think justify the high budget proposition in the first place:

FEDERAL MINISTRY OF DEFENCE 294,525,795,702 134,572,387,040

I am sure you will agree with me that security is of great concern in this country. This figure shows that the administration will invest N134.5B in purchasing security equipment, weaponry, and build barracks to secure our National heritage and at the same time a pretty good amount – N294.5B – will be spent as salaries and welfare of our soldiers at the warfront. Isn’t that a good move? Continue reading.

FEDERAL MINISTRY OF EDUCATION 369,556,376,895. 37,000,000,000

Education in this country is in serious shambles, our public schools is at its lowest level anyone can imagine due to lack of basic facilities, the education board lack administrative capabilities with insufficient number of teachers too and the few good ones are going on strike anytime they have mood swing. PMB administration is proposing to commit staggering N369.5B as recurrent expense on the Ministry as salaries, welfare packages entitlements, benefits and spend just N37B for facilities to enhance operational efficiency. Moves like this may reduce indefinite strike and inefficiencies that is ravaging the education sector in our country and there will be no excuse for non-performance.

FEDERAL MINISTRY OF HEALTH 221,712,151,746. 35,670,000,000

I don’t know how many people lost their family members, husbands, wives, children or loved ones in this country over a couple of years combine due to our health workers turning our hospitals to a football pitch where they ‘strike’ consistently to score their points. With this budget, PMB is saying there’s no such thing again. He is saying I will give you what you want by committing N221.7B to your welfare and salaries so that you won't have to go on strike again and Nigerians won't have to lose their loved ones to inefficiency and perhaps you will develop capacity to serve our rich citizens well to utilize our health Centre too. Will you call this #BudgetOfYams?

FEDERAL MINISTRY OF INTERIOR 145,282,766,543 53,070,000,000

Our Police Service Department, Civil Defense operations, Prison Services and more are part of this Ministry. This government said they will pay more attention to them. PMB propose to spend N145.2B to ensure they protect our civil rights and not block roads to collect N50 or connive with some people to wreak havoc in the society. He is proposing to improve Prison Services and Civil Defense operations by paying them what they are due to do their work and reduce civil crisis in the best way possible. I think I like this.

FEDERAL MINISTRY OF TRANSPORTATION – 13,797,393,980 202,000,000,000

Many people are dying to secure a room apartment in Lagos because there are opportunities here. In fact the few that could secure accommodation are paying through their nose. But if our railroads are working and we have other transportation system that are efficient you can be living like a king that you are in your own world at Molete or Dugbe in Ibadan and work on the Island in Lagos and back to your kingdom in Ibadan same day without sweat. PMB said we can do something to reduce the hardship and he proposes to invest N202B.... OMG! To build transport systems with just N13.7B as salaries to the Ministry and you still call this #BudgetOfYams?

FEDERAL MINISTRY OF WORKS POWER & HOUSING – 34,245,043,369. 433,400,000,000

See the combination of these three Ministries shows alignment for operational efficiency in delivering what is most needed to ensure good life and average standard of living for a common man on the streets. This administration intend to invest N433B on Road projects, Housing and Power generation with only N34.2B as salaries, for God's sake you should pause for a while and judge it yourself if the budget worth the increase or not.

CAPITAL IN FGN SPECIAL INTERVENTION PROGRAMME – 300,000,000,000. 200,000,000,000

If you add the Recurrent Expenditure and Capital Expenditure together, this is N500Billion projected as social welfare intervention programme for 2016. Included in the programme is the school feeding programme initiative, Conditional Cash Transfer (CCT) to the most vulnerable and Post-National Youth Service Corps grant. And if you add other Capital Supplementation Expense Heads of N170B to it that will make it N670B altogether. I think this is good.

POLICE FORMATIONS AND COMMAND –
283,091,240,698 17,009,090,000

See this one, PMB want to encourage our Policemen by ensuring they get paid as and when due, have monies to feed their families, have something in their pockets at all time and stop the armed-robbery stop-n-search activities on the highways. He is proposing N283B as salaries, entitlements, benefits and other welfare arrangement to give them a good life for serving their fatherland. I don't know about you but I think things are getting better in this country.

I will stop the narratives of the Budget on these few key Ministries and sectors not to bore you and just in case you are wondering how will they ensure this works. Read the next line

Do You Still Doubt If This Will Work?

I am glad to inform you that the Efficiency Unit set up by the Federal Government together with effective implementation of the Government Integrated Financial management Information Systems (GIFMIS) and the Integrated Personnel Payroll information System (IPPIS) is said to drive a reduction of overheads by at least 7%, personnel costs by 8% and other service wide votes by 19%.

I know this may seem to be like one of those propaganda and political machination to kill our economy but, I want you to take a moment and consider how much is already realized from some Permanent Secretaries of key Ministries such as the ones mentioned above that did not allow good budget like this work in time past. What about those Political figures that are healthy and kicking our wealth into their personal coffers when in position and now falling ill at the sight of the looming retribution. This is the Efficiency Unit at work.

I understand we have all been hurt seeing the state of our national polity after 17 years of democratic governance that is supposed to be for the people.

I understand that we are bitter the way our wealth has been squandered by some individual that are supposed to be our Calvary and TRUST has become an economic problem.

However true this is, we need to start from somewhere. We need to start trusting someone especially someone that has shown propensity for performance. Let us shun division and distractions some persons are promoting for personal gain or self-aggrandizement. Maybe you should know that we now unconsciously have more engagement and interest in political matters than before, even those that are naturally not inclined to matters such as this are paying attention now.

More groups, institutions, churches and mosques are diplomatically and directly becoming platforms for awareness and sensitization as to how the decisions of our leaders are affecting our physical and spiritual lives. This is one of the factors that impact the outcome of the 2015 general election and we can do it again in 2019 at the sight of fraud.

So, why exhaust our energy on discussions that produces nothing other than to engender division and bitterness. We should focus on the benefits this budget presents and position ourselves to enjoy the good of the land and not join the bandwagon of ‘Dummies’. Let us stop spinning the wheel and start driving real result intellectually.

Next week, I hope to post another thoughts on how this budget will affect you and what you should do in this 2016.

Small Business Guide For Today - November 9, 2015.

Solicit a Quick "Yes" or "No"

The business terrain this age is fast becoming more objectives and timely than usual. As much as you crave more customers for your business, don't waste too much time on endless discussion and negotiation because you are afraid to say "no."

Be objective about your approach, if client or customer isn't interested in doing business or buying what you sell, its painful really but it is better to face the truth and move on.

Some people don't like to say no to your proposal, so they mumble, stall and avoid picking your calls. This isn't helping at all, if you have observed, it only add to your frustration and eventually waste your time.

Here are 2 guides to avoid this kind of frustrations:

1. Be very clear - there is nothing as good as you knowing exactly what you want and be able to stick to it. So, be clear about this facts: whether you like it or not, not everyone will buy your product or patronize your goods, so why get stuck to getting the attention of one customer. Clarity will help you set goals and objectives of what needed to be done and achieved within a time frame.

So, when you notice a client or customer is stalling, tell them that you truly want their business, but you believe a "no" is as important as a "yes". With this you will be taking seriously and will never go back to waiting endlessly for an answer.

2. Set a deadline - once you are clear about what you want to achieve within a time frame, there must be deadlines. You must know what time to be spent on engaging a client, get appointments as quickly as you can. One hard truth about "timing" in business is that, in business every minute you spent comes with a cost, the more you keep stalling to get a response from your clients the more expenses accrues.

Deadline is one good strategy to get timely answers. You may think this takes a lot of nerves but its a grown up way of doing business. Its alleviates anxiety and stress.

So, if you have client or customer taking long time to respond to your proposal, you can politely ask where they are in the process. Isn't that very calm, professional and non-confrontational? Yes, it is. Their response will either be to ask for extension because they can't schedule a meeting for due to some vital things or he stalls in his response and I bet you will know if someone is stalling.

I hope this gives you the greatest hit in your business.

Have a great day today and remember to do things right in your business, the nation's growth depend on your success.

If you have any question post it here, I will do my best to help you in your business struggles or if its more personal contact me directly.

To your business success,

SPA

Let's connect:

Website: http://www.spabusinessplaybook.com
Facebook: https://www.facebook.com/akinbowale.peter
Twitter: https://twitter.com/PeterAkinbowale
Google+: https://plus.google.com/+PeterAkinbowale/about
Linkedin: https://ng.linkedin.com/pub/peter-akinbowale/63/919/753

Just to help you figure out your biggest struggles in business.
And about the link, I think spam bot is blocking it cuz its a google form but you can send a direct mail to me on spa@spabusinessplaybook.com stating your biggest struggle in business and I will reply you on way forward.

Kudducini:
What Is That All About I Dont Get Your Post + The Link Is Not Working

Facebook newsfeed post by: Sayo Peter Akinbowale
Sayo Peter Akinbowale wrote:

Wow! its a good day today. I hope you will have a fun-filled weekend.

Okay, I have something for you to make your weekend more fun, Guess what?

I woke up thinking about what I can do for you to help allay your biggest fear in doing what you love, living your dream life and making the most out of you day. You hate your job, you don't like where you are in the journey of your life, you want to change things quickly and want the change to be having your own BUSINESS!

I have good news for you. I have decided to help make November your month of new beginning. Your month of Clarity, Confidence and making cool "KESH". To get started click this link: http:///forms/Xi00Glc0zF fill out the form, it is FREE!!! Let me help you on this, it is what I do.

NOTE: I will only reply the first 10 people on my response list BCOB on Tuesday (11/3/2015) and others on rolling basis with no specific time of response. It's going to be first come, first serve. This is the first time I will be going public with this and I want to make it effective as possible so, bear with me on this.

Talk to you soon, and don't forget to share it with friends you think may need this opportunity too.

God's Blessings!
SPA.
Changing the world one business at a time.

With ease my brother....

Adebayolove:
Very informative. My question: is it possible to upgrade a registered business name to private limited liability and invariably to public limited liability?

ThatAlphaMan:
This is very informative, i think you have really nailed most of the issues plaguing startups. My worry is putting all of this in context, in other words bringing this all out of the screen and applying it to our businesses

No need to worry, take action, be deliberate, objective but never impulsive.

On point

phonesNgadgets:
Excellent piece. Thanks for sharing.
My advice to startups and budding entrepreneurs: Deliver value, money will roll in!

Thank me later. .

In my free e-book “Start Business The Right Way” I mentioned that “business is not a cast on bricks, it is dynamic and things always change with time and you must understand what to do and how you will keep your balance in each phase of the transition. You are permitted to dream big and desire great things about your business goal, but you have to be SMART about it.”
To run a successful business, little things matters and these things have the capacity to turn your business around positively and prune it to success.

Here are 2 surefire ways to make your business a successful one:

#1 Go Beyond Customer Satisfaction to Customer Delight

Customer satisfaction is a concept based on perception of customers as against the performance of a business. It is about expectation, a degree of variation in how one business satisfy her customers in terms of service compare to another. But those who understand the trends realize that business has moved far ahead of the time where customer satisfaction was an exceptional factor in business. Today it is a minimum requirement.

Customer delight entails stronger emotion and a different physiological state than satisfaction. It goes beyond satisfaction to a state that can be best described as a pleasurable experience for clients. Delight shows the amount of extra effort made to make a difference in this competing market space. That little extra thing is what I call The Delight Factor.

Now, you may be thinking how do I delight my customer? No fret. Just think about it this way – some months ago The Nigerian Bottling Company, the manufacturer of Coke, they did something phenomenon the experience of their consumers. The concept of “Share a Coke with ‘NAME'” is an example of a delight factor and you will agree with me this approach touched something personal beyond the satisfaction of the usual refreshing feelings people have after taking the drink.

I remember someone that will never want to take any sweetened drink buying a bottle of coke just because it carries his name, which is what the little extra thing – Delight Factor – will do for your business. So, why leave your business success to chance of doing the minimum, when you can go for something phenomenon, a product or value added service that strike a chord of delight and turn your customers to raving fans.

Your delight factor approach doesn’t have to be expensive; it could be as little as a customized nylon pack on every purchase more than certain amount, or sending a text on your customer’s special days and more. If you need help to delight your customers without hassle, Contact me today and let's talk.

In the same vein employee delight is also very important. Every employee including you as a business owner have obligations and schedules outside work and the reality is today’s employees appreciate a boss who considers a work-life balance, they want a work environment that encourages personal growth. The success of today’s business is highly dependent on the people within her walls and I pointed out this fact in my free e-book.

#2 Project and Manage Your Cash Flow

“Despite the fact that cash is the lifeblood of a business, the fuel that keeps the engine running – most business owners don’t truly have a handle on their cash flow” – Philip Campbell, Author of “Never Run Out of Cash”

Quincy Miller also said “managing cash flow is one of the most important yet unappreciated challenges faced by small businesses”

These statements holds true. In business one of the innocent but dangerous mistakes business owners makes is that once there is cash to pay bills, it is a good indication that business is doing fine, but the fact remains that is not the right move.

Two years ago I got a deal to deploy a solution for one of my clients and it was a big one for me at that time, the deal opened up opportunities for other prospective transaction and that was a cool experience.
The contract paper was signed, all documentations completed, and business began. Few months after, cash starts coming in and I am happy but the moment would not last two years because of bad cash flow management.

As a prudent business person I made decisions that I believe will help position the business for other opportunities that comes with this deal but it was a surefire way to disaster, here are some of the decisions;

– For the first time I got an office space to portray a serious organization that we are

– Got few equipment that will make our operation easy and at the same time grab other opportunities, and

– We employed staff

Isn’t that a good thing to do?

Really, I couldn’t agree more that it is a good decision but the truth is there are no strategy in it and no proper projections based on the cash coming in. In business, you may have control over the balance in your bank account but you need a solid cash flow projections and most importantly strategy to manage the receivables.

Shortly after these decisions, the ball game changed. The client developed habit for paying late, and borrowing is inevitable to manage the situation and ensure the business decisions made are productive. To be frank with you, we overshoot and were pushed out of margin far longer than necessary. While managing the situation, the client threw the “bomb” of holding on the deal (temporary ban) and when I later found out what happened it was a similar issue; he has same cash flow management problem and unfortunately, at my end the interest on the loan accrued to almost the value of the cash to be collected.

Actually, the business is profitable on paper at that time even after making those decisions but experience has shown that is not a guarantee. A Geneva Business Bank survey found that “about 68 percent of businesses don’t conduct any cash flow analysis, and a whopping 70 percent of businesses that go bankrupt are actually profitable when they close up shop.” that is to tell you that cash flow management is beyond the figures in your profit and loss book.

A US company that provides small and medium sized organizations and mid-market companies with range of easy-to-use, secure and efficient business management software and services – from accounting, HR to payments, enterprise resource planning and customer relationship management – Sage, in her latest whitepaper published on www.business.com, the largest resource place for small businesses, offers in my opinion the simplest and best approach to cash flow management in ten strategic ways and in four simple steps. I will state the four steps verbatim:

Step 1: Look beyond profit and loss – Remember, while profit and loss are critical to your long-term goals, your short-term successes and failures are more often defined by your cash flow. An inability to pay debts and avoid interest can spell disaster in a hurry, while a consistent, reliable cash flow—even a slightly negative one—will keep you in business.

Step 2: Improve receivables – Projections aside, you want to do everything you can to bring in as much cash as possible—now! In fact, for a small, growing business, hard cash in the short term can be far more beneficial than extra money paid later.

Step 3: Improve payables – It may seem best to pay your bills as fast as possible, especially if you’ve always been a conscientious consumer. But as you’re a small business owner, that mindset will cripple your growth! Expenses can quickly creep up on you, and you need to keep plenty of cash on hand for emergencies and unexpected costs.

Step 4: Weather the storm – Despite your best efforts, you may still have slow months and unexpected losses. It’s just a part of doing business. You always want to have plenty of cash on hand when it happens, but you need a few sound strategies for keeping your head above water when you don’t.

Final Thought and Game Plan

If you think nice office space, good location and more sales will bring your business success, think again!

Be creative, success in business is determined by values. Create much of it, you will succeed.

Ensure faster payments, through well planned cash collection policies, discounts and incentives.

Survive shortfalls by ensuring pocketful of emergency cash. That could mean the difference between bankruptcy and recovery.

Like what you just read?

Please share the story.

See you in the comment.

Website: http://www.spabusinessplaybook.com
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Hey Kingsley, you are right. Actually, I’m referring to the “…without registration…” statement. Thanks for the observation.

kingsleyuk2003:
For the Sole Trader (Enterprise) Section you explained that you don't need to file accounts or return with the CAC. But i can see on CAC webiste that there is a charge of N1000 for filing annual return (55 Filing of annual return 1,000.00.) http://new.cac.gov.ng/home/summary-of-fees-and-forms It seems to contradict your statement explanation. Can you explain more? Thanks for the information.

Doing business is really cool but in the face of this ever-changing business environment one need to be extra careful to maintain composure and stealth confidence to avoid unnecessary pressure that often push startup entrepreneurs into some pitfalls that undermines their contribution to the nation’s economic growth and development. Here are 7 Common Mistakes Startup Entrepreneurs Make that is often responsible for the under-performance of small businesses today:

#1 Wrong Business Structure

If you make a mistake about the kind of corporate structure on which to build your business it could be detrimental to your business functions and workflow thereby make you lose out on some opportunities that can help you achieve your business goals. Entrepreneurs often neglect this at start but as business grows it can be a major limitation so, why not avoid it and get it right from start if you truly mean business.

Let me quickly explain the different classes of business structures in Nigeria;

A. Sole Trader (Enterprise) – This is the simplest form of enterprise. It does not require registration but the business owner may wish to register the business name with Corporate Affairs Commission (CAC) to ensure other businesses do not trade by the same name. This is cheap for a startup entrepreneur, as you can save few bucks at startup by just floating a name for your business venture with or without registration, as you won’t need to file accounts or returns with the CAC if you don’t register a name, and no third party intervention in your business activities, but I must warn you there are lots of risks involve; as the entrepreneur you are solely responsible for all aspects of the business, you have the greatest personal risk with unlimited liability to all debts and legal actions.

B. Private Limited Liability Companies (Ltd) – This is a legal entity separated from its owners or shareholders. Its simplicity makes it the most commonly registered business structure in Nigeria. Unlike the Sole Trader business structure, the shareholders’ risk is reduced to only the money the owner(s) have invested in the company. The shareholder(s) personal possession remains separate unless they are secured against the business for borrowing or use.
Limited liability companies are considered legitimate by the public because information is recorded at the Corporate Affairs Commission and this gives the business a level of transparency which is beneficial in terms of public confidence.

C. Public Limited Liability Companies (Incorporation) – Just like the Private Limited Companies, this is the public version. With a public business structure, you can sell shares to the public and may be quoted on the stock exchange. The cost of running a public limited company is considerably higher hence, the reason it is for larger corporations.

D. Companies Owned By Guarantee (Not for Profit) – This is the type of organizations formed for not-for-profit kind of businesses. They do not have share capital, and members do not own the company. No profits receive as all income is used for the day to day operation of the company to achieve its business goals and members do not hold claim on any of the company’s assets.

For an in-depth advice and further clarification on which kind of business corporate structure will be beneficial to your business line, you can contact me by sending your request to spa@spabusinessplaybook.com it’s FREE.

#2 Lack of Record Keeping and Information Management

Poor record keeping and lack of information management are very pronounced among small businesses today. Few business owners do not prioritize record keeping and very few that did do it unprofessionally while other think it’s not necessary. Record keeping is the life line of any business, whether a hundred thousand Naira worth business or a Multi-million Naira worth business without record keeping such business is going to die a natural death in matter of time.

Don’t start that business if you have a little or no knowledge about how to keep sound records of your business activities, from the smallest item to the most expensive asset of your business must have its ink in the book of life (Record books).

As far as record keeping is concern business owners have two options; Do-It-Yourself or hire an accountant or a book-keeper, you can even adopt both. Contact us at SPA Business Playbook for a simple easy-to-use account and book keeping software that can help you keep tabs on all your business activities to avoid under-performance due to lack of record keeping by giving your business a consistent, clean and sound record it deserves.

#3 Fund Mismanagement

So many entrepreneurs has turned their businesses to an ATM, they draw cash from the flow anytime and justify spending as profit. In fact, in some business account books, Owner’s Draw (cash drawn against the owner of the business) carries the highest figure. To be candid with you on this, cash handling and fund management requires self-restraint and discipline, without them you cannot go far in business.

Financial management has been identified as the biggest problem of small businesses and many businesses have suffered setbacks, in some cases it is outright closure due to the problem of fund mismanagement. It is mandatory and important to separate your business account from your personal account, never spend the cash earned from your business on nothing else other than the business itself except your due portion in form of wage or salary.

#4 Lack of Requisite Business Skills & Knowledge

Let's not deceive ourselves, although, formal education is one way to acquire management skills but experiences has shown that this does not guarantee business success. To avoid a massive business failure, extra effort is required to learn firsthand the various entities peculiar to your business line. Make no mistake, what matter in business is not the idea but how to make the idea happen and that comes with relevant experiences through learning, reading, private business coaching and training as an apprentice or intern if necessary and required.

You should also not hesitate to consider strategic partnership with someone who possesses necessary skills and knowledge that can complement you to achieve your business intentions and goals.

#5 Wrong Products and Service Pricing

Often times most startup entrepreneurs fail to understand the value of their goods and services. They price low on their products in a bid to attract more customers and later discover that the resources expended on rendering the service or production does not justify the price tags and the income.

Under-pricing your products and services is a killer to the venture, so is overpricing. It is better to get it right at first than to miss this important part of your business process and struggling later to raise the par to where it should be. Don’t be naive about this at all, there are lots of resources online to help you determine the current market value of your goods and services and we at SPA Business Playbook will also be happy to help you out on this.

#6 Misguided Customer Service and Relationship

There are lots of Business owners that have misguided understanding on the concept of customer service and relationship to a level that they want to impress their customers and end up in a serious flop that they never regain from. In business, it is better to under-promise and over-deliver. Don’t be too shy to engage your clients and customers in a frank conversation. Avoid timidity and fear of losing them, customers often appreciate a straight to point response, make them understand what brought about the added cost if necessary and you will be surprised that some customers won’t mind paying for the added value if justified.

This misconception is the major cause of the point #5 mentioned above and many other naive actions such as not knowing when to say NO and turn down offers that is not business friendly. Don’t get me wrong, it is good to gain more customers and retain existing ones but it is dumb and more dangerous to ignore the fact that customers respond to values and not empathy.

#7 Unrefined Business Model

Another common mistake entrepreneurs make is stickiness to one particular way of doing business in this ever-changing business environment. This is one major reason many business owners lose out on some major opportunities this digital world of business presents. Ability to change and adapt quickly to the changes in the market space is a lucrative skill an entrepreneur must hone in this generation.

Many entrepreneurs are too primitive and unrefined to adjust their business model to match the on-going social media platform revolution. So many businesses are hitting it hard and enjoying breakthroughs online by getting more leads and sales. Don’t be too defensive, look into your business processes, and make necessary adjustment by responding to the behavioral trends of consumers. Get feedback and use the responses to refine and develop a viable business workflow.

Final Thoughts and Game Plan

The under-performance of small businesses today has undermined their contribution to the nation’s economic growth and development because of these common pitfalls discussed above.

Get requisite knowledge about your business line. It is not about the Idea, it is about making it happen.

Choosing the right business structure will save your business from missing out on opportunities.

Avoid under-pricing or overpricing of your goods and services, it is a killer.

Ensure you separate your business account from personal account, so you won’t mistake earnings for profit.

Go get the required record keeping knowledge or hire an accountant to save you the entire headache involve.

Conduct business survey, get what is trendy in the market and use the feedback to refine your business process accordingly.

Business can be very challenging; it will be an additional burden to be defensive in your approach.

BE GUIDED!

See you in the comment

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Thanks, expect more.

Jude015:
Very gud piece

Indifferent:
Nice one. Feeling motivated. But capital is still a huge factor !

Yes, I couldn't agree more but like how much are you talking? I may be able to help you break it down to a smaller unit and you may not be needing up to what you think you need to get started. Shoot me a mail at spa@spabusinessplaybook.com

Have you been lied to that owning a business is not for all, especially you? Or you have attempted a business before but it soon hit the rock and you already agreed it is actually true that business are meant for some set of people and not you. That’s not true. You don’t believe me? Okay let me start by asking you this few questions:

– Have you been tired of something and you feel you should have done it differently?

– Have you ever had any reason to want to make money?

– Have you ever had feelings of being independent?

– Have you ever had need for achievement?

– What about a little nudge inside of you to be in control of things?

– Are there things you are so confident and convinced can be done?

– Are there times you notice something ahead and prepared for it to manipulate the outcome?

– Is there something you really have flair for and you are willing to go for at all cost?

– Have you done something before in spite of the obvious negative outcome?

If your answer to most of these questions is YES, then you can own a business of your own.

All the questions above touches on 9 different traits that entrepreneurs exhibits from time to time and they are:

Innovation
Opportunity
Need for Independence
Need for Achievements
Internal locus of control
Self confidence
Proactive and Self-motivation
Vision and Flair
Ability to live with risk

However, I need to mention that I am very much aware that the presence of these traits in people are in various proportion. It’s highly dependent on how willing a person can push further to a break. By definition, entrepreneurs are described as risk-takers, innovators, bold opportunists or restless agents of change. Some even argued that entrepreneurs are born with some unique characteristics that always differentiate them from traditional managers. I believe entrepreneurs are made, not born and in reality no one is born with entrepreneurial gene in them but there are experiences and traits that make it more likely for some to succeed over time. Majority of business leaders we can see today have one time or the other been self-preserved, contented and complacent until a shift came and they transitioned from their former state into who and what they are today. The keyword here is TRANSITION.

Quickly, here are 9 points that shows that entrepreneurial DNA is in you and you have all it takes to have your own business and run it successfully.

#1 Innovation – When was the last time you did something for the first time?

I don’t know if you’ve surprised yourself by doing something you’ve thought was impossible for you and could not even dare attempt it? Maybe once or twice in your entire life. Do you remember how it feels like? That is it. There are possibilities of being limited by natural abilities to get to some heights, but the truth is you are actually limited by your unwillingness and complacency not the nature.

If you have done something differently or surprised yourself by doing something that make you feel WOW, you have it in you it. Consistency is all you need henceforth. Sukart Ratnakar said “Innovation is the outcome of a habit, not a random act” – this implies you don’t need to stop there. Repeat the process of how you make that happen, take conscious effort to kick start that little idea you have in you. Be innovative about it, talk to people that you know can help you put it all together. Don’t give up on that little achievement, try harder, and push yourself to limits and beyond to unlock the entrepreneur in you.

#2 Opportunity – I have heard this several times – “Life is unfair”. Well, if there is any fair thing Life ever gave us it is opportunity. Everyone have equal opportunities in life and our achievement is directly proportional to how much of it we utilize.

We are all born of a woman, 24 hours a day to work, but our achievement differs because of interests, set of beliefs and openness. Small opportunities are often the beginning of great enterprises, the size notwithstanding many have transformed their entire life by focusing on little opportunity that some considered too small to trade on. In my opinion, the opportunity you have now can be the doorway to the next big thing we are all waiting for. So, if you have ever wanted to make more money than you are making now that is the entrepreneurial DNA of opportunities inside of you, look around you for something and place a value on it. You can start from there.

#3 Independence – Freedom is fast becoming the desire of so many people, freedom is a movement, and it is our right. That little feeling of inconvenience about your current state of life is a sign of freedom and independence. You need not look further from where you are standing right now, start from there. If there is anything you want to break free from letting it hold you down to a spot, decide it now and let the entrepreneurial gene find its course. After all, if no changes to achieve financial independence is necessary, you’d already be there. You’d need not to work for anything ever, that same drive is all you need to get started as an entrepreneur.

#4 Achievements – If you have no need for achievements, I believe you won’t be reading this right now. Right from conception we have all been after one thing or another, pursuing laggardly or intentionally to achieve it, but all that matter is we all want to achieve something. Every day is all about achieving something because there is something in all of us to be better than the other even though some will never do anything about it and that is the small push you need to get started.

Dare to achieve, dream big but direct all your efforts into doing something that is positive and would later become a legacy for you as a business person. Maya Angelou submits “All great achievements require time” with time the little desire for achievements will soon become an undying drive for a great enterprise, use it.

#5 Control – No matter how little, everyone wants to be in control. In control of life, money, time and no one want anyone telling us what to do with what we own and have, that feeling is one of the key traits of an entrepreneur. All it take is to be in charge of your thoughts, take full responsibility for all your actions just as you have always done as a senior to a younger brother, leader of a small group and other opportunities you have had to be in control in time past. Take control of your business life, take the plunge and start enjoying the true freedom of being self-employed.

#6 Self Confidence – I have seen timid people achieve extra ordinary feats. Yes, it is very possible because there is always one thing everyone is sure of, everyone belief in something, you may not be able to express your true feelings publicly but that does not mean you can’t do business, all you need is someone that can complement the downside. There is strength in your calmness, don’t fret about what people say, with focus, determination and help of the few that believe you and in no time your business may be the next big thing to happen. Self-confidence is the most attractive quality a person can have. How can anyone see how great you are if you can’t see it yourself? So, get started you have done it before don’t give up now, do it just that same way you did the other time.

#7 Proactive and Self-motivation – Proactive means providing for what is yet to come or happen. Somehow, even though they fail, I saw the F-grade students in my class back in school days read when exam approaches, or put money in your wallet or cook up a lie you sell to a bus conductor in case you don’t have cash and be determined to follow through before boarding a bus to your destination and many more things people do to show that we all prepare for something consciously. What and how we prepare may be indiscriminately different but we all prepare for something. That is the spirit, you can do it. It just take little more efforts to learn methods and frameworks of how it’s been done and I can tell your business can start from there.

#8 Vision and Flair – Have you loved something so much that you begin to plan for it? As a little boy in high school, I remember a time I had flair for a school sandal “Trekkers” an expensive rival for “Kito” sandal back then in school if you know what I am talking about. I wanted to be trendy and have to save for days to get the sandal (trekkers). I got to Oshodi (the commercial hub on the mainland in Lagos, Nigeria) this fateful day and was surprised the price has gone up, I walked round and finally got one with all the cash I have on me including my T-fare, you can imagine what happened but please don’t ask me how it ends…. .

So, what about you? If you have done little or big thing because you love something so much then you can really envision a business you want to do for yourself, pursue it and with the right guide and support you can be a CEO too.

#9 Risk taking – Let me be a little blunt here. Life is all about taking risks. If you never take a risk, you will never achieve your dreams. I know you are a dreamer, you have visions and things you want to achieve maybe before the year ends or something for a later time, don’t wait for a perfect moment, take the moment you have now and make it perfect. The real risk is doing nothing. You have done it before, look back and think about all those moments of your life you never had it smooth and some actions you took that if you have told anyone, you know what their response will be. That is the spirit of entrepreneurship, take risks: if you win, you will be happy and if you lose, you will be wise, nothing is lost except ignorance.

FINAL THOUGHTS AND GAME PLAN

The success of a business is largely dependent on you as the owner.

If there is any part of you that appears to be a limitation, don’t let it hold you back.

Take deliberate steps to develop yourself to match your weakness, growth is continuous.

Associate with people that will inspire you and are ready to support you.

Develop these traits in the right proportion.

Don’t be afraid to fail, be afraid not to try. Go for it.

Start Something Today!

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Op, one thing you are not considering in the past millitary administrations is the fact that none of them was an administrator, they grab power as opportunity presents. Why do you think all of them want to come back and rule as a democrat apart from the juice to be squizzed? Anyway as per the GMB system of fighting corruption, it may work well this time because of his running mate. PYO is an administrator that I believe can stabilize things by book as a policy maker. Need to say also, that GMB's approach of jailing will work too cuz Nigeria at dis stage needs somone to instill fear as well for things to change in this nation. What you should look out for is the combination of the DUO.

sosanova:
JEGA see ur life
And you boasted to Nigerians INEC was ready to conduct election on February 14th, now you are saying you can not Guarantee if Election will hold in March

I think from what Jega said and the things he has been saying, INEC is ready but the possibility of election holding on the said date is dependent on other Agencies that hold stakes in the success of the election.... The guy knows what he's saying.

The major productivity gains of late 1990s and early 2000s were powered by the spread of information technology throughout organizations of all sizes. And it made IT professionals invaluable. However, the technology world remains in the midst of a relentless transformation and the changes sweeping the industry over the next decade will make developers, not IT pros, the new superstars.
We shouldn’t forget that the innovations we now take for granted have streamlined business communications and commerce in big way. I’m talking about PCs on every desk, computer networks for file and printer sharing, email, shared calendars, and ultimately the Web. These innovations gave a turbo boost to existing companies and spawned the rise of nimble new companies that were able to run circles around the incumbents in many industries.
These 1990s innovations made nearly all organizations deeply dependent on new technologies and they hired IT professionals in droves in order to troubleshoot problems, train employees how to use the new digital tools, and to “keep the world running,” as it were.
But that revolution is over. The technologies are deployed. The users are trained. The data centers are built. In recent years, no new IT innovations have arisen that can transform businesses the way corporate networks or email groupware or the Web did a decade ago. Nearly everything IT is doing now is tweaking and incremental upgrades to existing technologies.
Worse, the new tech trends that are arising often adapt and iterate faster than traditional IT departments can handle. Take Web applications and smartphones for example. The product and upgrade life cycles are so short that IT’s time-tested procedures (test, harden, and deploy) leave IT in a position of rolling out stuff that is already outdated by the time they rubber-stamp it for employee use.
That’s why many employees have started using their own laptops, smartphones, and Web apps to get work done — sometimes clandestinely — and it’s why many companies have reduced the size of their IT departments.
Why? Many computer products have become so cheap that it’s often easier to replace than to repair. Plus, IT services have become highly commoditized. There are plenty of technicians and administrators to fill up the labor pool (unlike the IT labor shortage a decade ago), and there are plenty of consultants who can fill in the gaps when needed. The really good IT professionals will still cost you a pretty penny, but they’re worth it because they can make your organization more efficient or innovative, or both.
The other factor is expectations. Now that workers have been using this stuff for over a decade, they just expect it to work. There’s less tolerance than ever for downtime or buggy systems, especially when companies have outsourced it to service providers who promise best-of-breed experts on the clock 24/7/365. But, even when companies have an expensive in-house IT department that has been hired to make everything run like clockwork, they don’t tolerate interruptions.
IT is now a utility. And increasingly, it’s just a utility that gets you to your apps
Applications have always been king — to an extent. It was apps that decided the winner of the PC wars of the 1980s, empowering IBM and then Microsoft to victories over Apple.
But today’s app environment is different. It’s faster. It’s more incremental. It’s multi-platform. It’s more device-agnostic. And it’s shifting more of the power in the tech industry away from those who deploy and support apps to those who build them. Oh, and did I mention that it’s easier to get started, so there’s also a lot more competition?
This new app model began in smartphones, with the App Store for Apple’s mobile OS, but it has spread to other mobile platforms such as Android and more recently to netbooks and tablets as well. And it’s only a matter of time before it spreads to desktop, Web, and enterprise apps, which will each get their own nuanced versions of app stores.
It will be especially interesting to see how well really big software packages can adapt and get more modular, and possibly embrace open standards so that data can flow more easily between best-of-breed apps and modules. But, however it plays out, the momentum behind this app model is too great for it not to affect traditional software packages and software implementation methods.
It’s a simple equation. When there’s less tech support, there’s a lot more emphasis on apps that just work. And the new app model forces developers to make apps that can deliver immediate value to users, otherwise they’ll get passed over for the next app.
This breeds a survival-of-the-fittest environment for developers, but make no mistake, there’s never been a better time to be a developer.
In this environment, developers have tremendous opportunities for independence and creativity. Individual developers and small teams of developers (sometimes in concert with designers and project managers) can now build mini empires for themselves, thanks to the micropayment systems that allow one developer with a PayPal account to have virtually all of the infrastructure needed to start a consulting business.
Industrious developers can even work for a big company or an app development team as a day job and then moonlight as an independent developer with a few of his or her own apps that can potentially generate residual income. Meanwhile, experienced app developers can freelance for multiple clients and build a small consultancy by helping businesses of all sizes get into the app game.
For these developers, location matters less than ever, too. A developer with email, a Skype account, and a half-decent Web portfolio can typically find pretty good work, even from clients in remote locations. Plus, the tools for team collaboration over the Web are getting better all the time and will continue to break down geographic barriers.
The demand for developers is increasing because everyone wants an app now — from Target to Allstate to Joe’s Garage down the street. They started with mobile but we should expect this to spread to tablets, desktop widgets, and eventually TVs (once platforms like Android and iOS get embedded in the living room experience). Having a multi-platform app strategy will become standard procedure for new companies the way having a website is today.
The sweeping changes in the tech industry will continue to have unpredictable consequences and will produce new sets of winners and losers. Traditional IT roles are not going to go away, but they will be under increased pressure and are likely to become more concentrated in service providers. At the same time, developers are about to step into the spotlight. This is going to be their decade.

NOTE: This Article is culled from TechRepublic.com, By Jason Hiner.

HOW TRUE IS THIS? Please Comments

nairalander: OP, you forgot to mention IT SECURITY, Government parastatals, Financial Institutions,Multinationals etc. will always be in need of IT Security Experts and will prefer to hire an employee rather than outsource security issues.

Nice piece though, The future of IT is an important topic, anyone with or aspiring to have a career in IT should keenly follow the trend and upgrade accordingly, else you might find yourself in a saturated field.

We can categorise "IT SECURITY" under Developers.....

Em-my:

k.... But don't u think that IT marketing is a unique& important part of IT career path as not all marketers can be IT marketers?.....

Emmy, maybe I dont understand your perspective about IT marketing but, I think "marketing" is a generic concept every business person must adopt to force an impression & impact in the marketplace. If a developer come up with a product and design, and he wants it to go public, he has just created career for trained MARKETERS. I have a friend, he has worked for an IT firm as a marketer before and now he's in a financial institution for same job function. Marketing is about PRODUCT n SKILLS to convince a customer to buy it, so if you can sell a product I think u r a marketer. Meanwhile for the sake of this article I would classify them as consultants.

Em-my:
What about IT marketing?

This article categorises only the core of IT JOBs. As you know for every biz to thrive in this competitive economy marketers are needed in every field. Even people are re-branding sales of foods & nutrition supplements into organisations and they r also recruiting marketers

The IT profession and the IT job market are in the midst of seismic changes that are going to shift the focus to three types of jobs.
There’s a general anxiety that has settled over much of the IT profession in recent years. It’s a stark contrast to the situation just over a decade ago. At the end of the 1990s, IT pros were the belles of the ball. The IT labor shortage regularly made headlines and IT pros were able to command excellent salaries by getting training and certification, job hopping, and, in many cases, being the only qualified candidate for a key position in a thinly-stretched job market. At the time, IT was held up as one of the professions of the future, where more and more of the best jobs would be migrating as computer-automated processes replaced manual ones. Unfortunately, that idea of this has been morphed into something much different. More and more of traditional software has moved to the web, or at least to internal servers and served through a web browser. Moreso, today’s users don’t need as much help as they used to. Most workers have now been using technology for a decade or more and have become more proficient than they were a decade ago.

So where does that leave today’s IT professionals? Where will the IT jobs of the future be?

1. Consultants

Let’s face it, all but the largest enterprises would prefer to not to have any IT professionals on staff, or at least as few as possible. It’s nothing personal against geeks, it’s just that IT pros are expensive and when IT departments get too big and centralized they tend to become experts at saying, “No.” They block more progress than they enable. As a result, we’re going to see most of traditional IT administration and support functions outsourced to third-party consultants. This includes a wide range from huge multi-national consultancies to the one person consultancy who serves as the rented IT department for local SMBs. I’m also lumping in companies like IBM, HP, Amazon AWS, and Rackspace, who will rent out both data center capacity and IT professionals to help deploy, manage, and troubleshoot solutions. Many of the IT administrators and support professionals who currently work directly for corporations will transition to working for big vendors or consultancies in the future as companies switch to purchasing IT services on an as-needed basis in order to lower costs, get a higher level of expertise, and get 24/7/365 coverage.

2. Project managers

Most of the IT workers that survive and remain as employees in traditional companies will be project managers. They will not be part of a centralized IT department, but will be spread out in the various business units and departments. They will be business analysts who will help the company leaders and managers make good technology decisions. They will gather business requirements and communicate with stakeholders about the technology solutions they need, and will also be proactive in looking for new technologies that can transform the business. These project managers will also serve as the company’s point of contact with technology vendors and consultants. If you look closely, you can already see a lot of current IT managers morphing in this direction.

3. Developers

By far, the area where the largest number of IT jobs is going to move is into developer, programmer, and coder jobs. While IT used to be about managing and deploying hardware and software, it’s going to increasingly be about web-based applications that will be expected to work smoothly, be self-evident, and require very little training or intervention from tech support. The other piece of the pie will be mobile applications — both native apps and mobile web apps. The current changes in IT are “shifting more of the power in the tech industry away from those who deploy and support apps to those who build them.” This trend is already underway and it’s only going to accelerate over the next decade.

The IT profession and the IT job market are in the midst of seismic changes that are going to shift the focus to three types of jobs.
There’s a general anxiety that has settled over much of the IT profession in recent years. It’s a stark contrast to the situation just over a decade ago. At the end of the 1990s, IT pros were the belles of the ball. The IT labor shortage regularly made headlines and IT pros were able to command excellent salaries by getting training and certification, job hopping, and, in many cases, being the only qualified candidate for a key position in a thinly-stretched job market. At the time, IT was held up as one of the professions of the future, where more and more of the best jobs would be migrating as computer-automated processes replaced manual ones. Unfortunately, that idea of this has been morphed into something much different. More and more of traditional software has moved to the web, or at least to internal servers and served through a web browser. Moreso, today’s users don’t need as much help as they used to. Most workers have now been using technology for a decade or more and have become more proficient than they were a decade ago.

So where does that leave today’s IT professionals? Where will the IT jobs of the future be?

1. Consultants

Let’s face it, all but the largest enterprises would prefer to not to have any IT professionals on staff, or at least as few as possible. It’s nothing personal against geeks, it’s just that IT pros are expensive and when IT departments get too big and centralized they tend to become experts at saying, “No.” They block more progress than they enable. As a result, we’re going to see most of traditional IT administration and support functions outsourced to third-party consultants. This includes a wide range from huge multi-national consultancies to the one person consultancy who serves as the rented IT department for local SMBs. I’m also lumping in companies like IBM, HP, Amazon AWS, and Rackspace, who will rent out both data center capacity and IT professionals to help deploy, manage, and troubleshoot solutions. Many of the IT administrators and support professionals who currently work directly for corporations will transition to working for big vendors or consultancies in the future as companies switch to purchasing IT services on an as-needed basis in order to lower costs, get a higher level of expertise, and get 24/7/365 coverage.

2. Project managers

Most of the IT workers that survive and remain as employees in traditional companies will be project managers. They will not be part of a centralized IT department, but will be spread out in the various business units and departments. They will be business analysts who will help the company leaders and managers make good technology decisions. They will gather business requirements and communicate with stakeholders about the technology solutions they need, and will also be proactive in looking for new technologies that can transform the business. These project managers will also serve as the company’s point of contact with technology vendors and consultants. If you look closely, you can already see a lot of current IT managers morphing in this direction.

3. Developers

By far, the area where the largest number of IT jobs is going to move is into developer, programmer, and coder jobs. While IT used to be about managing and deploying hardware and software, it’s going to increasingly be about web-based applications that will be expected to work smoothly, be self-evident, and require very little training or intervention from tech support. The other piece of the pie will be mobile applications — both native apps and mobile web apps. The current changes in IT are “shifting more of the power in the tech industry away from those who deploy and support apps to those who build them.” This trend is already underway and it’s only going to accelerate over the next decade.

Thank You.

Any observation, suggestion and recommendation on this article is welcome.