Many people did not expect the lockdown and a lot more had no plans in place for the long stretch of time that has elapsed. The world thought it was just going to be a few days, at the most a few weeks. Then, it would be back to work and back to life asContinue reading “How lockdown caught many with their pants down”
Category Archives: Planning
Documenting your dream in a business plan!
Knowing your people, who they currently buy from, why they buy from them, how much they buy and why they would buy from someone else is very important to a business and this should be covered fully in your business plan. Then also is the need for strategy; you know to know what to do, how to do it, when to do it and where to do it in other to have those customers come buy from you instead of buying from your competition.
Business Plan: More than words on paper
The entrepreneur’s business plan must always be handy and at easy reach where it can be looked at and compared with actual running of the business, it should be reviewed and adjusted. It’s like a conscientious saver or accountant, he would always look at his books to make sure they are in order, if they are not he searches out why and makes amends or corrections where necessary.
How do you define a business plan?
To a Carpenter; a business plan is the hammer that drives in the nail that joins the woods together to give us a table
To the tailor, a business plan is ……………………
WHAT IS A BUSINESS PLAN
If you ask a business owner or an employee if they have heard of the words “business plan”, most often than not you get the answer yes. Ask for the meaning of what a business plan is and you get a variety of definitions. It is never the same because to different people business plan actually means different things. Over the years I have come to understand that in truth business plan could be defined differently depending on which angle you looking at it from.
If you looking at the business plan of making a journey and reaching a destination
2012 – Differentiating between time spent and time invested
There is one thing that is common to all mankind. One universal gift from God or nature whatever you believe in. Whether you are male or female, old or young, married or single, a public servant or a privately employed worker, a professional or a labour worker, an entrepreneur or an intrapreneur, a student or a graduate we all have been given 24hours in every day for all the days of our lives. We go to bed at night and wake up the morning of the next day, go to work or school come back home or go out clubbing or relaxing. In whatever way our routine is we have 24 hours in which we have to execute them.
THE ENTREPRENEURS’ FAMINE
here is a stage in the natural life of all entrepreneurs that we all go through it. It is that period of lack and scarcity, a period in which it seems that nothing is and will grow. Generally we face this period in different ways; some of us behave like Joseph (the guy in the bible) we know before it happens and prepare for it, some like the rest of the world during his time we try as much to enjoy it while it last believing that tomorrow will take care of itself, and we have those in between we here its coming but for the like of us know what to do!
Well, before we go any further I think it is important that we try to analyze
LITTLE DROPS OF WATER OR A DRUMFULL OF WATER: The best way of doing business
Why? Basically, the main reason behind this (as research has shown) is corruption, a hunger for quick success, lack of trust and accountability, personal gratification for amassing liabilities instead of assets. We want others to know we have arrived and so we must buy the latest and most expensive cars, live in expensive rental flats or mansions and have on our arms the expensively clad lady. This from a guy that is just starting out and probably got a loan from the bank to start.
“Give me my money upfront” he says. The partner from the United Kingdom says, “We will agree to give you 5% for every sale that you make for the next two years. A contract will be signed to that effect.” But no! The Nigerian Businessman would insist on an once-in-a-lifetime fee that will be gone in a flash due to expensive living and not continuous flow. We forget that accumulated benefits,
SUCCESS TIMING- HOW PREPARED ARE YOU?
It is of the greatest importance that we write down in plain text how we will run with the success when it comes. We need to understand that success is an opportunity that is given to us and that we must plan well for this opportunity to be fully utilized. For some of us success comes to us suddenly and it becomes fleeting. For orders it comes to us after so much hard work and we sometimes fail to see it as such and it does not stay. For others it comes to us after so much preparation that we immediately identify with it and make the best of it.
SMALL BUSINESSES IN NIGERIA: WHY THEY REMAIN AS SMALL BUSINESSES
Most Nigerian youths leave school with a certificate that cannot be used to get employment. They spend years going from one company to another in search of a job. Some go as far as looking for just anything to make ends meet. For those who have work, they are underpaid and overworked but cannot leave the unsatisfying employment because they are worried (with good reason) that they might not find another one. The banks that were the major employers for many years have now cut back on staff and salary.
Unemployment has pushed a lot into starting a micro or small business “just to make ends meet” while they still have the hope of getting a paid employment.
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