Dried Crayfish Export from Nigeria:Made Easy

Dried Crayfish Export from Nigeria:Made Easy

Dried Crayfish is one of the foodstuffs currently being exported from Nigeria to countries in Europe, America and Asian More »

How to export Ginger from Nigeria and Make Huge Profit

How to export Ginger from Nigeria and Make Huge Profit

The demand for Ginger in the international market has gone up significantly because the root is now being used as raw material in manufacturing process. More »

Make Millions of Naira through Cashew Export from Nigeria.

Make Millions of Naira through Cashew Export from Nigeria.

The export of cashew nuts and other agricultural commodities from Nigeria is fast becoming very lucrative these days; More »

Bitter kola export business in Nigeria, Invest N80, 000 & make100percent profits

Bitter kola export business in Nigeria, Invest N80, 000 & make100percent profits

Bitter kola export business in Nigeria, Invest N80, 000 & make100percent profits More »

Start A Profitable Groundnut Oil Production Business in Nigeria

Start A Profitable Groundnut Oil Production Business in Nigeria

The high demand for groundnut oil nationwide and the short fall in supply due to the ban on the importation of the product by the federal government of Nigeria has thus make Groundnut oil production business very lucrative. More »

 

How to start a profitable business

The harsh reality of job insecurity, unemployment and poverty the world over, has made it more pertinent for individuals to setup their own profitable businesses.

The benefits of you having a business of your own are as follows.
 Having a business of your own gives you financial independence.
 
Having a business of your own saves you from the shock of sudden lose of job.
 
 Having a business of your own will help you to achieve your desired dreams faster.
 
 Also you will have enough time to spend with your family.
 
But how long will you continue to work hard for somebody else and having nothing to show for all your effort?
 
Your work hard all day to making your bosses super rich while they just pay you pea nuts as  take home salary that will not even take you to the nearest bus stop. 
 
Its clear facts that, if you dont mind your own business now you will spend all your years on earth helping others to achieve their dreams while yours become an abandoned project. 
 
You can overcome job insecurity, unemployment and financial hardship if you take time to discover and engage your talents towards lunching a business of your own.
 
And here are some steps that will help you easily setup a business of your own.
 
1.CONSIDER YOUR AREA OF INTEREST:

Your hobbies, talent and field of study constitute area of interest you should focus on  when thinking of starting a profitable business.
 
What ever job you do with great joy and pleasure there lays your interest and if you setup a business around things you like, you will definitely succeed to a large extent.

Example, if you like being around children always, you can consider setting up a profitable business around the needs of children.
 
2.WATCH OUT FOR WHAT PEOPLE NEED:

After you have discovered your area of interest, you can now find out what needs of people around you are and how you can take advantage to setup a profitable business. 
 
But first, you will need to check the viability of the business before jumping into it.
 
 You can also pay close attention to what people in your environment are saying to know the current business opportunities that tally with your area of interest.
 
3.GET IDEAS AND TURN IT INTO VALUABLE PRODUCTS AND SERVICES:

To set-up a  business through which you can make money, You will need to constantly have a positive frame of mind about the  issues of life, so you can see opportunities even in the mist of difficulties.

Great ideas for profitable business will come when you think positive, read inspirational books, magazines /newspapers and most especially searching through the internet.
 
Also, you can get valuable ideas, setup businesses and make money when you interact with positive minded people.
 
4.NETWORKING WITH PEOPLE IN YOUR LINE OF BUSINESS:

Never try to walk alone when starting your business. Look around for people who are already in that line of business you are going in to and ask for their help and mentoring .It will surprise you how far the information you get from them will help to make setting up your business much easier than you thought. Please refer to:
5. CARRYOUT A FEASIBILITY STUDY:

A good feasibility when carried out will contain valuable information that will help you setup a successful business and can also be used to secure loans from banks and financial institutions.
 
6.REGISTER YOUR BUSINESS WITH RELEVANT GOVERNMENT AUTHORITIES:

Register your companys name at the co-operate affairs commission of Nigeria to give your business a legal standing. You can register your business as a limited liability company or as an enterprise.
 
7. SECURE AN OFFICE SPACE:

Get an office where your customers can come freely to transact business with you. But if you cant afford to rent an office space for the time being maybe due to limited resources, you can use your home as office to help you reduce cost.
 
8.GET THE REQUIRED CAPITAL NEEDED TO START THE BUSINESS:
 
Getting capital to start a business is one very important factor people think about a lot and thus they get scared of going in to business.

The capital you need to start your own business may not necessary be cash alone. There are other things you posses that you can actually use to start your business even if you dont have physical money at hand.

 HOW TO RAISE START-UP CAPITAL FOR YOUR BUSINESS:
1. You can sell your landed properties and equipments to raise the money you need.
2. You can also use this landed properties to stand as collateral to secure loans from banks and other financial institutions.
3. You use your bank savings to start your business.
4. You can raise capital for business by borrowing money from friends and relations.
5. You can go into partnership agreement with somebody who can supply the needed finance and then share profit on an agreed percentage.

9.HOW TO START YOUR MARKETING:
 
Start your marketing with the people you know its easiest way of marketing your business. Tell these people what you do, people in your church, mosque, co-workers, people in your neighborhood and club members e.t.c

When informing them, dont just tell them with by mouth but use the marketing tools listed below and equip yourself so can create good & lasting impression about your business in the minds of customers.

1. Business cards.
2. Create a website/blog for your business.
3. Get a computer/internet access.
4. Print a Letter headed papers and envelopes.
5. Get a telephone number that people can easily remember.
6. Open a bank account for your business.

Finally, in this article I have discussed and out lined some important steps that will help you start profitable businesses of your own.
 
I’m believed you have understood the points outlined and I’m sure of the great success and wealth you will achieve if you actually take steps to implement these ideas to start your own business.
Don’t just be a reader but be an achiever.
Success in business is yours, see you at the top!

READ  300 Men Accommodation Barge For Hire

Leave a Reply

Your email address will not be published. Required fields are marked *