Are you a small business owner? A young accountant who still can't make sense of accounting? Or looking to start your own business?

This is for you.

Many business owners complain of missing funds ALL THE TIME. I've heard it so much it's exhausting.

First they say the most important thing to them is finding customers. Then getting the money.
But I promise you, if you don't understand what's happening to that money, you might as well be walking in the dark.

And that's why I'm going to help you for FREE. �
It's simple.

In the coming weeks I'll run a series on the blog called
*Small Business 101: Accounting for non-accountants*
It'll be easy to understand and come with pre-formatted templates you can work with.

Don't miss out on this please.

Like I said, it's free. For now. Because soon I'll be selling this as a full course and charging for consultancy �
So take advantage.

If you'd like to be a part of it, simply signup using this link

http://eepurl.com/c6DEa1

And you'll be notified once the series is up and running.

Tell a friend to tell a friend who owns a business or is intending to own one. (aka Share this post)

Once you signup, you'll get an email with a FREE download. It's called *The Startpreneur's Toolkit* and comes in an easy to read and printable format. There's also a formatted excel sheet to get you started business wise.

Like I said, this is *FREE*

Consider this my way of giving back to the society and paying forward for us all to have a better, financially free future.
Don't wait until the money is gone and you have to pay for consultancy.
Get it right from the start.

No more missing money
Better Accountability
Easy-to-read Numbers

No business ever succeeded without good financial planning and management.

Signup here to get it all

http://eepurl.com/c6DEa1

Tell your friends.
Sharing is caring �


website: http://mapsforbiz.com

Electric cars in Nigeria? Hahahahahahahahahahahahahaha


That's the joke of the century

echelons:


Been using P9 lite... The phone sweet die. Timely update, good response time, sharp camera (definitely beats my Galaxy S5).
When there's need for an upgrade, I'm definitely buying another Huawei P series.

Not cheap though

How much for the P9 lite?

How durable are the phones btw? I drop my device a lot. It'd be nice not to worry about screen cracks even without a screen protection.

davide470:
When are we getting married sef?

Nice writeup btw..

*LoveStruck*

When you buy the ring


Thanks dear

Any experience with Huawei phones? I'm thinking of getting the Honor 8 Lite (or is it called P8 lite?)

Tedpgrass:


Thanks op and UJsizzle for this piece of useful information.

Can you shed some light on this new government.initiative--- taxation identification number... please??

1) Is it any.different to the current system
2) Will it be tagged to bank accounts like BVN
3) what are the implications for people who aren't domiciled... ??double taxation
4) how does it affect or influence VAIDs??

many.thanks

1. TIN is not a new initiative. Taxpayers have just been given more awareness in recent times
2. To the best of my knowledge, No. But banks can help new business owners generate TIN.
3. Nigeria is in double taxation agreement (DTA) with a number of countries. In this situation certain reliefs will be granted. In a situation where there is no DTA, commonwealth income tax relief will be applicable for countries within the common wealth and republic of Ireland.
Where neither of this is the case, the country basically charges taxes on income earned in Nigeria only.
4. Like I said, TIN is really just an Identification Number for taxpayers (think of it as the ID number on your passport or national ID card) and has been in existence for a while now. VAIDS scheme was established to bring more elusive taxpayers into the tax net by granting amnesty. Everyone who takes advantage of the scheme will be registered as taxpayers and given a TIN.


Hope this is satisfactory. Sorry for the delay.

designVATExcel:
Thanks for this. Highly insightful.
One question though under No. 2 Donations and the likes. If a Company, Christian Company, follows the first fruit bible principle, i.e. gives the entire amount received from the first product/ service sale to a church, is this tax exempt?

Also some companies pay tithes every month, can this be treated as non taxable deductions, i.e. can it be deducted from total Income before calculating tax?

Some of these things are confusing.

Donation for religious purposes are allowed only when given to CAN. If it's paid as tithe or first fruits to individual churches, they'll all be disallowed for tax purposes.

Ademat7:
OP are you the writer

I'm the writer. Wasn't even aware it's on NL.
Should be in Business section though.

@Scholarsarena thanks for sharing

cc Mynd44 Lalasticlala Dominique

Mynd44:
Happy birthday Naptu2. I want to be like you when I grow up

Thought you wanted to be like me

Happy birthday, Naptu2. Wish you many wonderful years filled with wisdom and favour.

If 'hot' is what you were after, the photographer failed.

Demented, disgusting males on this thread.

bukolabodun:
After obtaining PAYDIRECT PAYMENT RECEIPT at the bank where i made payment, i was trying to generate my Prof. Student | Examination E-Voucher to proceed for my registration and its not bringing out the serial number and PIN.Any body with similar issue and how did you resolve this?

Network was really poor on the 9th. Should be better now.

Odunharry:

We should talk.

Send me a mail.

TochiPhotos:
I don't even know where to start from, visiting this page again after all these while, went back to the very first beginning, down to the last post and I can't hold back the tears . I'm overwhelmed with emotions. I hope one day, I shall be bold enough to tell my story.

I'm back for good... where are my people? cc aitop DeIneffable Ksslib pryd FrancisTony UjSizzle salsera GENIUS18 Dahprech deegnity22 ijbeauty intrinsicniyi PresVA Mintayo mistytohcute Giyazz

Good to have you back

Webman007:
1) it could be your CMS. Building website with CMS like WordPress and co are good, becuase it's easy and the options you have to expand the scope of your website are awesome using plugins and co.

but then you need to watch it and don't overbloat your site with plugins, deactivate and delete the ones you're not using and look for alternatives for anything you want to do with plugin.

2) Are your images optimized? this is another issue don't just throw in that image or video on your site without optimizing them for speed and cutting off excess fat.

3) Minify your files. yes you can minify your files from your HTML to your CSS and JS files.

4) Use cache and CDN services where necessary

5) like some one. rightly said what's your server bandwidth?

At the end of the day it pays to use available speed test tools to test your site speed and then implement suggested corrections


_----------------_

Need a Website for your ideal or Business? contact me using the contact details below

Needed this.

What do you use to optimize images?

MrOwonikoko:



Abi oo! Wait! perhaps, how did u know i have a biz?

Instinct?

jaybee3:
Okay here you go

You probably need to break the headings down or be a little more descriptive for dummies like myself.
Step 1: Why do you want to start a business, passion or as a necessity?
Step 2: Identify business gaps and Map out entry strategy
Step 3: Business Plan
Step 4: Testing ?

Roger that. Thanks booboo

GameKartel:
i have always known u to be a very creative fiction-like writer, just feelin my eyebrows raised to the fact that you are actually now giving some serious business lessons. "running a start-up business in dis current tough economy can be very soul-drilling with roi dwindling like fvck."

I'm a girl of many talent

luckypeace1980:
Nice write up, i will start my own business soon, but op i need an advice as i want to start fasion design company earlier next year, although i have started learning it since 3mnths ago now to have the idea. Although I am a graduate ; an architect but work is not just comming from clients as usual, i belief i will do beter when i establish the company while i also do my architecture and construction work at my own pace. I will engage contract employees who will work under my supervision in my fashion company. Pls op advice me on how to go with this business interms of starting it newly and sorting out fund. thank you.

are you considering a fashion design company or an architectural one?

Hardewarlee:
Thanks Op

You're welcome

oluwaseunhere:
Whoever compiled this may have never done business before. It doesn't always follow this structure.

How ever you decide to 'rearrange' the structure, the point is at one time or the other you will have to do the things on the list.

jaybee3:


Come and employ me

You're hired!!

DanielsParker:
Huge capital

Not all businesses are capital intensive.

MrOwonikoko:
Igbo boiz doesn't need all ds steps u r laying down jor!

Igbo kwenu!!!

You should ask Mr Owonikoko what he had in mind when he started his business.

Being your own boss is the 21st century dream, sadly not many people know how to start a business or get bogged down by too much information.

Perhaps you have considered leaving your nine-to-five job a hundred times this year. You may have thought of a great idea that will disrupt the current market, or a new way to cater for the needs of people around you, or you simply want an outlet to do the things you are passionate about (or good at) on a wider scale.

If this is you, then you’ve considered jumping into the entrepreneurial line but still unsure what needs doing. Here is a comprehensive checklist that teaches you how to start a business, and takes you from thinking to action in no time. Grab your pads…

Step 1: Why do you want to start a business?

Before we jump into the action plans it’s important you understand why starting a business is important to you. The right mindset will set the stage and determine how far you’ll go to start and grow your business. Sadly, a lot of entrepreneurs get this wrong. They either start a business for the wrong reasons or do it for weak ones. When I ask my friends why they want to start their own business, answers read like this:

*For freedom to do the things I want
*To work at my pace
*Financial freedom!
*I want to answer to myself

It’s rare to hear people say I’m good at this and want to reach more people. Like I said, it’s possible to have the right ideas for the wrong or weak reasons. When the need to solve problems is the fuel for your want, you will sustain the momentum required to face the hurdles of the coming years.

Step 2: Research and Map your business idea

To succeed at entrepreneurship, offering unique value is a necessity. It’s also important to consider the kind of product you have on offer, market, offerings of potential and existing competition, and growth in market share. This information requires in-depth research. You might already have some promising ideas you’d love to try. That’s fine. There are chances you’ll fail at it. That’s fine, too. But your chance of failure is significantly reduced when you have the right information on feasibility, and your ability to carry this through. This is where idea mapping comes in. Before you share your business idea consider these questions:

What do you find effortless that others complain about?
What does your friends/family say you are good at?
If finance was not a problem, what would you do for free?
How do people introduce you?

With these in mind you have an idea what kind of value you can offer with your product or services because it’s easier to build on existing strengths. You could also send out an online questionnaire (see: survey monkey) to get a clue of what people need and how you can best serve them. It is vital to set realistic goals before you start a business to see the big picture. Your first great idea might fail; even the second, too. But what matters is what you do afterwards.

Step 3: Business Plan

A business plan is a blueprint that guides your business from start-up to growth. It highlights your goals and details of how you intend to achieve them. Every business idea needs a plan to become reality. The nature of your business and how you intend sourcing finance will decide the kind of plan you need.

Traditional business plans will serve those who want funding from financial institutions and investors. It’s more thorough than a one-paged business plan often used by people who do not need external funds.

Whatever your choice of finance, writing a plan is a necessary part of starting, running and growing your business.

Step 4: Plan Finance

Even though we say creating value is most important, none of this will materialize except we have money to start a business. Making a budget is a good way to assess finance. Your budget should cover estimates of expenses for at least 12 months. Inclusive is the startup costs e.g. legal fee, branding, advert, license and permit, equipment, inventory etc., and other fixed, recurring expenses like rent, utility, employee cost, transport/travel, subscription and dues etc.

Some businesses need heavy startup capital, while others not as much. Depending on your budget, there are various ways of sourcing finance. For residents in Nigeria you can get access to funds from the Bank of Industry (BOI), Tony Elumelu Foundation, or from grants, crowdfunding and angel investors. For those in a regular nine-to-five job, consider setting aside portions of your salary for a time to get started.

Step 5: Determine the business structure

Your business can be a partnership, sole proprietorship, Limited Liability Company or a corporation. This structure will have an impact on your business name, how you file taxes and your liability, among other factors. Depending on the complexity of your business, it is wise to use the services of a lawyer for legal advice.

Irrespective of your plans today, you can always change your business structure as the company grows, to accommodate change.

Step 6: Register your business

A registered business is a legal entity within the country it’s situated. In Nigeria you need to register your business (irrespective of its structure) with the CAC. For employers of labour, you’ll also have to register with the FIRS and the IRS of your state of residence. This is where you file monthly and annual returns.

Step 7: Choose your accounting system

I’ve met long-time business owners who spend a lot of money to fix their accounting, sales or inventory systems. The one thing they all had in common was thinking reaching consumers and making money was more important. It is true every business needs money, but without a working system in place you will find that problems met in the future are avoidable.

For a small company, you don’t need anything fancy, like QuickBooks, if you can’t afford it yet. Invest your time in a simple spreadsheet to record your income and expenses daily. If you can afford a robust software package now, then choose one that’s simple to use. Bookkeeping is easy—at first. With adequate income and expense record you already have preliminary documents that any accountant can work with.

Step 8: Build your team

Unless you’re hashing it out as a solopreneur, choosing the most efficient team will impact greatly on your business. When choosing partners and employees always go for people who understand the company’s vision, are easy to teach, and imbibe team spirit. Make sure to highlight the roles and responsibilities for each vacant position so everyone has an idea of expectations.

If you intend contracting jobs, then now is the time to use the services of a lawyer to draft a contractual agreement. It’s important to not get hasty in making this kind of decision. Start a business with the proper legal documents.

Step 9: Brand and Promote your business

You’ve come this far, well done! We have set the stage for takeoff. A bit of branding and promotion is next. You do this by discovering and advertising your unique selling point (USP) to potential customers. You want to tell them what value this business has to offer and why it’s better than anything the competition has.

A website is also suitable for promoting your company; however, make time to keep it regularly updated. Social media presence is a hallmark of every successful business today. It’s important to leverage on existing technology and trends and adapt to changes in the corporate environment.

Among all, create a business logo that is easily identifiable on any of your product. This logo should surface on your website, social media pages and sales items.


Once you’ve gone through the listed you’ll have all your bases covered as you start a business. Remember though to stick to the plan and religiously follow through with it. Becoming successful is not something that happens immediately, but with the right knowledge, people, funding, market and attitude, you’ll stay on a steady path of growth and eventual success.


Source http://mapsforbiz.com/2017/10/01/first-steps-start-a-business-2017/
Visit my blog and subscribe for more inspiring tips on smart business.

jaybee3:


I agree with whatever you have to say

Booboo

Odunharry:

Werin u still dey do with telemundo?

Happy Sunday ma'am. How's the family and work

Watching Iron Rose

The family is doing well, thank you

How are you?

davide470:
Why ain't it cutting it?

Without prejudice, the facts are aiit

No, they're not. At least not on a comparable basis.
How does one compare a UK hall with an African stadium? Even someone as dry as KC can shut down a stadium in Africa. And what's the deal with Malians and the musical language?
I sing Despacito and I don't know jack Spanish.
His argument is pretty weak.

This is not to say Davido is bad. He has his fans, too, but all these stuff the Op wrote... Nah. Dude can do better than this.

I'm usually not bothered by these things, but dude when next you want to make comparison, please get better 'comparable' stats.
Because what you have here ain't cutting it.