Recent Posts - West Entrepreneur Forum

West Entrepreneur Forum

Welcome, Guest: Join West Entrepreneur Forum / Login / Trending / Recent / New
Stats: 248 members, 302 topics. Date: Monday 25th September 2017 at 02:15pm

Recent Posts

West Entrepreneur Forum Forum / Recent Post

(Page 1 of 20) (1) (2) (3) (4) (5) (..) (19) (20) (Last)

Real Estate / How To Start A Plumbing Service And Supply Company by Ikoiikenna: Today at 12:17pm
Plumbing is the system of pipes which supply water to a building. And if you take a look around there is already one form of plumbing fixtures job in place or one been done either in the bathroom, kitchen, toilet, bathtub and so on.

Plumbing supply business is the distribution of plumbing materials in large quantity to households, companies and contractors. So you see that this plumbing supply business is not going anywhere soon, it will always be needed.

You will be surprised at the rate of clients and profits seen in this plumbing business, it is such that guarantee to give you a good returns on your investment within a short period of time --especially if you can be supplying at a more affordable price.
Let's look at the following business template on how to start this plumbing supply business.

1. WRITE A BUSINESS PLAN:
A good business plan is like the lifeblood of a business. That is, it gives you in clear details all that you need to know to get you prepared for the business at hand. With your business plan you should be able to decide and focus on the scale you intend to start your supply business.

2. CAPITAL:
Plumbing supply business is a business that is capital intensive. So raising the capital to get this business off the ground should now be your primary focus. If you have a good savings, then all the best. But if you do not, apply for a loan in one of the micro finance bank and work out the details concerning their interest rate and repayment with them, make sure it is favourable to you before agreeing to any terms. Or you can go online, source for your capital from angel investors and work out a deal. See Also : How To Get Capital To Start A Small Business

3. REGISTER YOUR COMPANY:
It is important to register your company before you go start and run it in whatever location or area you want. Take some time out and go apply for a business license along with your business name with the appropriate authorities.
READ ALSO: How to Register A Business Name In Nigeria

4. FIND SUPPLIER/MATERIALS:
Before going to search for suppliers of plumbing products, you need to decide first the kinds of plumbing products you wish to sell. Use the internet for your search to make it easy and get in contact with companies that manufactures plumbing materials generally and contract them for supplies, make sure when they start supplying it will be at a wholesaler price which will allow you to make good profits.

5. LEASE A PROPERTY:
You need to look into your budget and find a property in a conducive area to lease. But there are factors you need to consider before deciding on any property. Like if the area is busy enough to get you the right customers or if the area is motorable, enough space, security etc.

6. SOURCE FOR CLIENTS:
This I believe is the most important part in a business, it is the main purpose of been in one. So your best bet in getting clients for your business should be, construction companies, contractors who are into building contracts, real estate managers and individuals involved in their personal building projects. Make contact with these targeted clients and offer deals they won't be able to resist so you can start supplying them with your plumbing products.

And that is it. All the basic steps to get you started. Good luck on your plumb supply business.

Funding / Top 10 Microfinance Banks That Offers Loan Without Collateral by Ikoiikenna: Today at 08:52am
Micro-finance banks are not just there for you to save money and get awesome returns and rates on them but they can also be a very good source of raising your start-up capital. They make sure that the small and medium scale businesses get the attention that they so desire from the bigger banks.

Most of these banks have plans that would suit your every need and their repayment plans (the month, the installments and the interest rates) would always be considerate and put your kind of business in mind first. With the micro-finance banks, you need not worry about start-up capital again. Below is a rundown of the ten top micro-finance banks that you can take your money worries to and walk out with a smile… and a bag of money too.

1. Accion Microfinance Bank:
Walk into this bank and speak to any of their representatives about a loan and before you leave that desk to go apply, you would have already had a smile plastered all over your face. Not only can you get your loan within the first 3 days of application, they don’t need you to bring forth any collateral and they don’t charge much per interest too.

2. AB Microfinance Bank Limited:
These ones are a bigger establishment and they would also be willing to start you up but in most cases, would need you to have held an account with them for about 3 months to know better about you.

3. Olive Microfinance Bank Ltd:
These ones have been around for a long time so if you need a bigger loan, just walk into any of their offices. They would need to see how you want to spend the money and what kind of business your doing so it is important to draw up a business plan first.

4. FirstBank Microfinance Banks:
To better cater to the SMEs, first bank has launched this line of financial institutions. They are the biggest in the microfinance industry and according to users, the most reliable. They are available at all first bank branches.

READ ALSO: How To Become A Successful Angel Investor

5. Eagle Microfinance Bank Limited:
Although these people are also willing to borrow you a lot, they are not readily available in a lot of areas. If you happen to stumble upon them though, you are surely getting that capital.

6. Jesse Field Microfinance Bank:
What these people pride themselves in the most is the speed at which they give out business loans, which can be as fast as within 24 hours of requesting. You have to meet some basic requirements such as having a business that is enjoying patronage on ground though.

7. E-Barclays MicrofinanceBank:
They are a subsidiary of the globally known financial institution – Barclays. They would give you the money you need if you meet their asking. For Abuja residents, they can be reached at 36, Okotie Eboh Street, Utako, Abuja.

8. Providence Microfinance Bank:
This is probably the most rigid of the banks we have been talking about but they have to make sure their money is going into a great business. The speed at which you get your loan from them is the speed with which you can meet their requirements.

9. Ren Money MFB Limited:
They are one of the most advanced in the country and even though they have a lot of money to borrow you, they can be very rigid with their requirements, one of which is having three sureties who are working in the banking sector too.

10. Broadview Microfinance bank:
This bank also prides itself in speed and doesn’t have those rigid rules as above. With a friendly approach to rates, loans and repayment plan, Lagos residents can reach them at 52, Odunlami street, Lagos.

Business Ideas / Top Business Ideas And Investment Opportunities In Usa by ikoiikenna: Yesterday at 07:32pm
Are you really considering doing business? Would you like to be aware of exactly what investment chances and the top business ideas in America are?
America is a state that is tremendously developing which is now the biggest market on the planet. The market of America is largely private sector and is a capitalist mixed economy. The U.S is now the worlds biggest importer of goods products and contains a higher consumer spending speed.

Doing company in the united states is feasible and very advisable given the ease of accessing capital, secure economic and political conditions as well as the available individual human resources.
Yet, beginning a company is definitely insecure regardless of the united states you're running in, particularly when the economic tendencies are not predictable. For this reason, you ought to assess the marketplace and take a wide perspective of the variables that shape supply and demand prior to starting a brand new company.

READ ALSO: Top Business Ideas and Investment Opportunities In Cameroon

In the event you are considering beginning a company in America, you need to think about a company that's enormous demand future potential, and resistance to the adverse effects of downturns.

Grocery & foodstuff store
Sales will be made by a foodstuff selling company in just about any location, even as little as a desert. It is because all of US need food to live. The most effective company you can begin in the US is a grocery and foodstuff store for folks to get other family things and foodstuff.

Herb Farming-: Herbs are utilized for a wide range of body and well-being care products.
Top Business Ideas And Investment Opportunities In USA

Art Gallery:- Who does not enjoy exquisite works of artwork? For a lot of, artworks are not less than the usual decoration, they can be a supply of motivation. You can begin selling and making your personal artworks or become a provider to artists in the US.

Cake making and Ornamentation
Cakes are typically present at any celebration. They're likewise a popular option for dessert. It's possible for you to place your baking abilities to good use and begin baking cakes on the market. You may even take up a cupcake store.

Gift Basket Company
The fact remains the fact that there'll stay a requirement for gifting, and that's why starting a gift basket company give them and to assist folks source to find the best present ideas is a business idea that is very good.

Skin Practice
The skin is an essential organ in the entire body for the reason that we are represented by it. Pros like you who'd take up a skin practice that is good in the united states.

Organic products are an all-time favorite for folks. You can begin your own personal all-natural body lotion generation company in the US knowing making body lotions.
Spare parts dealer-: you'll be able to turn into a spare parts dealer also.

Car rentals
You can even begin renting out your car to those who want it for brief intervals. You do not want a fleet of automobiles to begin a car rental company. You can also focus on the auto you're now driving provided that it is correctly cared for and awesome.

Driving School-: you'll need to pass a driving test Before you will be issued official drivers permit in the US. You may start a training school for those who would like to know the best way to drive.
Residents of US adore to get some fun and hang out often also.
Insurance Agency

Marketing Business-: Another company idea would be to assist individuals to advertise their companies. You take up a billboard advertising agency or can be a marketing adviser.
You then begin your personal insurance provider and can slowly develop your organization.
It's possible for you to offer this service to company owners and people.

Debt Management Business-: as a consequence of the economic downturn, lots of company owners and people are deep in debt. You can begin a debt management company for those who are in possession of an excellent understanding of fiscal management.
You make money from the interest and can initiate a cash advance company.

Medical Waste recycling-: lots of wastes come in the medical sector but the great thing is the fact that the majority of the waste could be recycled. You can initiate a recycling company that centers on medical waste.

Drugstore-: you can even begin selling drugs and health-related things, but you'll want a permit as well as professional training to begin such company.
Babysitting-: Yet another simple, low-capital company you may start in the US is a childcare or babysitting facility.

Internet marketing services:
As a result of ever-increasing speeds at which consumers are actually locating and purchasing products online, companies are left without any other option, however, to set aside a decent fraction of the advertising budget for internet marketing. And there is more than enough evidence that lots of companies are actually making more sales through the world wide web.

You can begin a company that helps other companies entice customers through the world wide web and build an internet presence. The web marketing business is growing also before the web stops to exist, it's going to continue to develop.
Pet care:

READ ALSO: Small Business Ideas And Investment Opportunity In Ghana

On pet care, Americans spent $40 billion dollars in the year 2012. This business has experienced enormous growth over time as well as the storyline will probably stay the same for many years into the future. So, in case you don't have any issue with looking after them and like pets, it is a huge business chance for you personally. This should not discourage you, as you can work even in the event you do not have a degree in Veterinary Medicine. The truth is, the qualification may not be needed by you, in the end.

E-commerce:
Based on Inc.com, the e-commerce business was projected to develop at a mean yearly rate of 8.8% through 2017. As consumers are feeling safe and comfortable with purchasing products and services via the web this is not a surprise.
Thus, if you're considering a great business opportunity to investigate, contemplate starting your own e-commerce shop, advertise services and your products, and watch the sales come. Then expand your range of offers and you will need to begin little, offering several merchandises. This manner was beginning by many large brands
For those who have one, you too can start your thought.

The truth that eateries use 10% of the absolute U.S workforce is a revealing evidence the restaurant company is a serious one. Thus, for those who happen to be thinking of starting a brand new company, contemplate starting a restaurant. It is an extremely lucrative company, and it is hardly difficult to begin.

Environmental consulting:
"Eco-Friendly living" is now among the most frequently used phrases in the US. More folks are getting to realize the damaging ramifications of substances and combustion fuels which are generated in businesses and houses. Because of this, businesses and people are hiring surroundings advisers to guide them on how to shield their environment by lessening the speed of emission of noxious materials. The environmental consulting company was projected to improve by 45% in sales by 2017.

Eco-friendly merchandise and services:
Another tendency with broad impact is the growing need for eco-friendly services and products.
Senior health care:
Thus, if you're running in the healthcare sector, now's the time to start concentrating even more about the seniors.

Private security:
As a result of rising crime rates, there is an equally growing demand by owners of companies, houses, as well as other precious facilities for private security services. Until the speeds of joblessness go down (that is improbable), the offense would remain to the increase, just such as the need for security services. Thus, in the event you want to shield their assets as well as individuals, here's a business chance for you personally. See Also: How to Setup a Private Security Guard Company

Transport and logistics:
that is just another sector anticipated to be among the victor during the following five years. Transportation services are constantly in high demand, whatever the state of the market. So, this can be yet another recession-proof business opportunity it is possible to investigate for those who have what it takes.

In the frequent post, I'll be sharing with you some of the most profitable investment opportunities in the United States of America, including business ideas specific to different states.

Alabama, Hawaii, Michigan, North Carolina, Utah, Alaska, Idaho ,Minnesota, North Dakota, Vermont, Arizona, Illinois, Mississippi , Ohio, Virginia, Arkansas, Indiana, Missouri, Oklahoma, Washington, California ,Iowa Montana Oregon West Virginia Colorado Kansas Nebraska Pennsylvania Wisconsin Connecticut Kentucky Nevada Rhode Island Wyoming Delaware Louisiana New Hampshire South Carolina Maine New Jersey South Dakota Florida Maryland New Mexico Tennessee Georgia Massachusetts New York Texas

Make suggestion using the Reply button Below.

Sports Trading / Re: Make #50,000 To #100,000 Monthly From Football Betting With Ease by Ikoiikenna: Yesterday at 03:35pm
jabikee25:I am into sports betting and have lost much money even to fixed game scammers. Please send me your ebook @ jabikee25@gmail.com


Sorry for your loss. With this information you will reduce your chances of loosing games by 99.9%.
But ensure your read the material thoroughly.
Check your email, it'd been sent to you.

If you appreciate this kind gesture ( providing information that guarantee profits for you for FREE) kindly share out this forum. Encourage more people to join. In fact ensure someone join the forum through you. Thanks.

Sports Trading / Re: Make #50,000 To #100,000 Monthly From Football Betting With Ease by jabikee25: Yesterday at 02:12pm
I am into sports betting and have lost much money even to fixed game scammers. Please send me your ebook @ jabikee25@gmail.com

General Updates / Effective Steps Towards Becoming An Entrepreneur by Ikoiikenna: Yesterday at 01:26pm
A lot of people want to become entrepreneurs, go into business for themselves and start making it like those already in this field too but then find it out to even break out at all. This is why it is important that you know the ways to take in your path of becoming an entrepreneur.

1.Think Like One
To be a real and successful entrepreneur, you need to be able to think like one. Change your mentality from that of a job holder to a business holder and switch your thinking from that of a small minded person to one that is very big. Equip yourself to start taking risks and leaps in to the unknown also. To be a successful entrepreneur, the right mind-set is needed.
entrepreneur

2. Pick a Niche
A niche is part where you would concentrate on and to go into business at all, you need to know where you want to base on. Find your passion, something that you excel at and something that would not only make you money, but you would enjoy doing. Being an entrepreneur is no use if you don’t know where you want to establish in.

3. Research
Getting a niche is just one thing, making researches on that niche of yours is another. Study the area you have picked and learn all there is to about that part. Know what you’ll need for the business and even draw a business plan to help you succeed better at the business. This way, you would have been preparing yourself mentally and physically against some issues that might arise.

Read Also: Business Lessons We Should Learn From Oprah Winfrey

4. Source investors
No matter how great a lucrative a business idea is, without investors or the proper funding and start-up capital, the business is going nowhere. your business is like a vehicle, you are the entrepreneur and driver and funding is the fuel that the business needs to move from where it is to the next level. With a god, detailed and properly written business plan, it should not be hard to get investors who would be interested in your cause.

5. Network
a good support network would take your business to places that you would not have achieved on your own and that is why it is important to build one for the betterment of the business. Get recommendation, referrals, partners, allies and supporters for your business. You can join an association or cooperative society to better meet new people of like minds.

6. Goals
Goals – both the short term and the long term are very important in keeping you focused and would determine the kind of drive and decisions to make for your business. Don’t just go into business to make money. Have a well-defined set of goal and milestones and write them against dates and times when you feel you would reach them. After that, pursue your goals.

7.Competition
Knowing your competition and studying about them to get better isn’t a sign of weakness on your part but instead, an ethical ay to show respect in business. Know others who have opted to trade in your kind of niche, check their markets, their prices and be informed on their customers. This would help you to better cater to the market and make decisions on how to grow yourself.

Registration/Licencing / How To Register Your Product With Nafdac by Ikoiikenna: Yesterday at 08:53am
Fears of many entrepreneurs who are into the manufacturing business is often the issue of registration with the NATIONAL AGENCY FOR FOOD AND DRUGS ADMINISTRATION [NAFDAC] they seldom disagree that it’s the greatest hurdle in starting up a business.

But the truth still stares in the face as venturing into the lucrative world of manufacturing business, NAFDAC challenge should be expected and prepare pre-notice and not a thing to wish away for even to your advantage and advantage of your customers and of all involve ensures safe and right quality foods, medicines, household products, packaged water, imported, exported, advertised, distributed and sold in Nigeria.

Read Also: How To Register A Business Name In Nigeria

To simplify and further ensure steady growth of you business WEST ENTREPRENEUR will in this report reveal all the necessary information that vastly necessitate your registration with NAFDAC, that people who often go through the process of registration termed it tasking owing to their lack of the working information which often leads to lack of resources, time and energy thus the name tasking. Happily through this report you will be equipped with the proper and appropriate working in formations you need to register your business, so I advice you read carefully every word down to the last.

Basically from source NAFDAC registration is mainly of two divisions

DRUGS- This includes insecticides, herbal preparation, cosmetics, medical devices, pesticides, veterinary products, vaccines, chemicals and supplement.
FOODS- which include all forms of food (processed &packaged foods).

Requirements- The requirement I will divide into two for convenience-
· Imported/foreign manufactured products
· Locally manufactured products
For the foreign products, the representative must have a duly executed power of attorney from the manufacturer also signed by the body of production.

Process- Registration process requires specific documents and documentation varies for different drugs and food as discussed still under
· Foreign/imported product
· The locally manufactured products
For foreign products
· Application for approval to bring samples
· Application for full registration of product
For locally manufactured products
· Application for full registration of product
Application for approval and to bring samples
· In this the authority will require samples of products
· Authorization to import samples( this entails a written authorization from the agency)
Note to facilitate this registration one has to provide the certificate of analysis from manufacturer, certificate of free sale from appropriate regulatory authority from country of origin. Samples of products must also conform to stipulated product labeling regulators.

Read Also: How To Obtain An Export License In Nigeria

NOTE: Often the question asked by most of my callers on this topic, getting an approval depends and is restricted to particular indicated products i.e. for each product application is offered specifically thus each product requires separate approval and separate NAFDAC number not minding if from the same source or company.

With the above knowledge am sure one will want to know the next step. The initial step involves the procurement of registration form for each product, after which you fill the form and submit with an application letter.[to get a sample of this letter to guide you, reply to this thread.

HOW TO GET THE APLICATION FORM
The application form is available in their office and also online from their website ( continue reading)
After which it’s to be submitted to the registration division with below documents
· Five copies of report for the product
· Sample of the products(three for each)
· License name for your company.
Also with some designated amount as registration fees like
· Sachet water-------------------30,000
· Packaged food----------------40,000
· Herbal drugs--------------------10,000 to 20,000
· Bottled water--------------------50,000
· Cosmetics------------------------40,000
· Pharmaceutical drugs produced in Nigeria ----------25,000 to 70,000
· Pesticides------------------------40,000


MORE INFORMATION TO NOTE

HOW LONG IS THE PROCESS
Three months if all requirements are met as and when due

WHERE IS NAFDAC REGISTRATION OFFICE
In Lagos, with the following addresses.
a. (a) NAFDAC Central Laboratory Complex
3/4 Oshodi ? Apapa Expressway, Oshodi ? Lagos.
(for Registration and Regulatory Affairs Directorate, Legal Unit, Establishment Inspection Directorate, Food Laboratory, Narcotics and Controlled Substances Directorate).
a. (b) NAFDAC Central Drug and Vaccines Laboratory (CDVL)
Edmund Crescent, Yaba ? Lagos (for Drug Laboratory and Ports Inspection Directorate).
a. (c) NAFDAC Enforcement Directorate.
Ahmadu Bello Way (Behind Nigerian Air Force Camp by Legico B/stop), Victoria Island – Lagos

NAFDAC ONLINE OUTLET
Website:www.nafdac.gov.ng
E-mail: nafdac@nafdac.gov.ng

WHO TO CALL(REPRESENTATIVE OF NAFDAC)
Call the Director (Registration and Regulatory Affairs) on 01-4748627, 01- 4772452

Advertising/ Marketing / 5 Effective Ways To Grow Your Email List In Nigeria by Ikoiikenna: on Sat at 10:10pm
I've you heard about Gmail, Yahoo mail, outlook and numerous others. What is their use, why do you need to grow them? To many, they might understand the rhetoric-like question but it isn't if you really want to get the best rate of activity on any of your online sites.
As a blogger, website owner, online marketer, a business boss seeking for the best tricks and tactics to grow their email list, read! Before I proceed, do you wish to generate millions of followers with your email? Do you wish to grow it beyond your imagination? Then spend some minutes in reading these.

While the reasons for growing your email list remained ambiguous and extensive. Your email list helps you generate viewers and extreme traffic to your site or blog, it helps you know the intention and comments of people about your business, it helps you get the feedback from thousands of people, dictating your new strategy to be nice. How can you grow your email list in Nigeria? Below you can sort the answers yourself with cogent five(5) ways you can use to grow your email list in Nigeria Now! See Also: 4 Ways To Scale And Keep Your Business On Top

1. Target Your Audience
Just like any kind of advice or ways you can grow your business in Nigeria. Email list helps you in sorting the best and durable followers by hearing from them daily and weekly. Targeting your audience could be referring to Website and blog owners. You must be able to catch the attention of your visitors with assuring content and articles. Do you know why? They will be forced to subscribe as they would wish to always revisit your site anywhere they are and most importantly on their emails.
Targeting your audience with informative and educating content help to create the zeal and love to like your website as well as subscribing, paving for a high rate of email subscribers. westentrepreneur.com is one of the news and latest update websites which I've subscribed to, so as to always get the best information daily. Don't be aggressive by forcing people on your website, like popping a page of subscribing to your email before they could have access to your website. Also, another related way to grow your email list in Nigeria is by;

2. Pinning Your Best Offer
People love promo, they love bonuses from your websites and would go many miles to access it. If you really want to grow your email list then, the best thing to do is pinning your best offer on your website homepage, which they couldn't access until they subscribe. Many people will love to view such offers by subscribing to your email if probably it could only be viewed on your emails. All you need to do is to make an easy and clickable button that will enable them to view instantly paving way for more numbers of followers and subscribers on your email list. It seems cool, isn't it?

3. Encourage them to Share
This is another cool tactics to enable easy and perfect growth of email list in Nigeria. Advisable, make a clickable and easy button on your email calling to share and forward to friends. The best way to make your previous friends do this is by encouraging and summoning them to share it, probably posting a content and beneath it, you could place a share button and before you realize you must have hit the taste of many email followers while smiling at your thousand lists. The approachable and cool post also helps daily, just compose the encouraging content of three hundred words explaining vividly the optimum reason for your sharing and thereafter you will probably see hundreds of them doing just as you've said depending on your powerful exposures and friendliness.

4. Use Your Social Network
What do you think I'm saying? I'm not saying you should start expressing yourself in a sympathetic mood on Facebook or twitter begging for email followers or acting harshly on people because you want to grow your email list in Nigeria. No! It is not done that way, all you need to do is to create a credible content. Then include words like- For more information visit westentrepreneur.com or continue reading by subscribing freely to westentrepreneur.com. They are actually cool ways you can implore your Facebook friends or Twitter followers and lastly;

Read Also: Best Ways To Attract More Customers To Your Business

5. Promise Free Materials
You aren't going to buy them a brand new Ferrari if they subscribe rather are you going to give them a white mansion in New York. All you are expected to do is to enlist some numbers of self-help e-books and documents. How to, ways to and other best offers of materials could be promised online after subscribing.

If I were to have the opportunity, I would subscribe five times if the e-books is a romantic poem, Yes! You could make it easy like, making them click to get free e-books on a topic then referring them to subscribe to your email, before finally getting it and if they can, they have the floor for the materials. I hope you will make use of this!

Financial Services / How To Become A Successful Angel Investor by Ikoiikenna: on Sat at 06:38pm
We have talked about the various ways in which an angel investor might present themselves in one of our previous posts, to better educate aspiring angel investors in the fundamentals of what they want to get into and also inform business owners so that they don’t get confused when they see some certain clauses in their contract with the investors and today, we would be talking about how to really become an angel investor.

If you want to pursue a career in this field of investment, be our guest and read on.
You should by now know that the first and the most basic requirement of being an angel investor is having a huge chunk of money to invest knowledge of reading business plans and proposals and identifying the best ones and also, a license that certifies you as an accredited investor. After all said and done, these are the six basic questions to ask the entrepreneur you want to invest in.

Who are you?
This is not to be asked in an offensive tone but in a true a sincere way that would indicate that your mind is open to knowing the entrepreneurs themselves. Get to know they have and the skills that they have acquired to make them equipped for the business. This would give you the first impression and help determine their credibility.

What and who are the major challenges and competitors?
When an entrepreneur knows a lot about the business and can quickly analyze before you the challenges that the business can face, it means that they have done well to prepare themselves for these kinds of occurrences in the future. Also, a good knowledge of their competition and how to tackle them is a good pointer that they tend to be unique and succeed against all odds.

READ ALSO: How To Be Financially Independent In Today's Economy

What is your target market?
A business cannot grow if it does not have a target market in mind to cater to. It could be dependent on sex, status in society or the age of customers, but there has to be a market for a business to cater to. Probe further to determine how they wish to reach their markets too and make a known impact here.

What are your marketing and promotion tactics?
Sales don’t just come by themselves and if there are no sales, best believe that you might have just lost a huge lot of your money in a sorry investment. Ask the entrepreneur what plans they have on the ground as regards the marketing and promotion of their goods and services, how they aim to convert customers and break into new markets too, among other things.

How much do you need, and for what?
Here, you already know how much it is you are willing to give out but just pose this question to see if they have actually planned a budget or have a plan of how to spend the money. Someone with a detailed plan of how your money would be spent and utilized is better trusted than one that is just coming to get the money and use it ‘for the business’

READ ALSO: How To Become A Successful Home-based Consultant

What is my return on investment rates?
You don’t want to invest in a business that would take you donkey years before realizing the capital back talk less of getting profits. Ask them what their profit sharing formula is and check how well that agrees with you.

Some entrepreneurs want funds but get stingy when it comes to money sharing. Make sure you iron this out before putting pen to paper and shaking hands.

Manufacturing/ Production / Re: How To Start A Match Stick Manufacturing Company by ikoiikenna: on Sat at 05:41pm
Segiade 20:Good one,


Thanks. Am glad you like it. Stick around for more interesting updates.

Manufacturing/ Production / Re: How To Start A Match Stick Manufacturing Company by Segiade 20: on Sat at 05:29pm
Good one,

Telecommunication / How To Start A Profitable Bulk Sms Business by ikoiikenna: on Sat at 02:53pm
In a country of over 170 million people were more than half of that figure owns a phone that has the text service enabled on it, Bulk SMS service provision is surely one of the best investments that your money can go to. The good thing about this project is that it is in no way capital intensive as you can just go ahead to start up without any office or office agents. Also, you do not need any special skills of any kind before you start making your money. Doesn’t this sound easy enough?

The Bulk SMS business is not only open to experienced investors or people of a certain age range as anyone can succeed in the business. Be it a student, retired pensioner, worker, teacher, you name it. this non-discriminating status makes it a lucrative venture and a steady flow of income. You do not need to wait till the end of the month to get paid when you have your own Bulk SMS service because the operation is on a pay as you go basis. All being said and done, would you want to start now?Let’s find out how in the detailed steps outlined below.

1. Register with a Wholesaler
To begin your own personal bulk SMS business, the first thing to do is to register with a wholesale of the bulk SMS units. A wholesaler would prove a better means of making your money better than you registering with another retailer who would sell you units at high prices instead. Before registering, check the rates offered by the retailer, their quality of service and dependability. You might also want to look out for the kind of bonuses attached to every package like some do because this would help you gain better from the money spent.

Most wholesalers out there would also give you access to a platform that you can use for your own personal reselling. These ones are advised over those who don’t as they have made the process easier for you even from the start. Don’t be surprised that the wholesalers themselves would charge you something of a start-up fee for this platform but that is to be expected. Again, look for where you can get the best value for your money because the charge on reselling platforms varies among a lot of them. Take the first step and contact a reliable bulk SMS wholesaler today.

2. Buy Your Custom SMS units
Now that you must have found a reliable and efficient wholesaler, the next step now is for you to buy the amount of units that you want to resell. There are various packages for purchasing the units and the higher the amount you demand, the cheaper the overall cost. Check to buy it in bulk at once from your wholesaler so that when you sell in units, you would make more sales than if you had been buying slowly.
Ideally, it is advised that you start with a purchase of 10,000 units. Depending on your wholesaler, you are expected to get guidelines to use for your reselling portal alongside your first units to better get you off your feet.

3. Customising your reselling platform
The SMS reselling website provided by your wholesaler would be exactly like their own because the technology just clones it and sends you a copy. This is where the first set of work lies. You would now need to change all of the settings on your reselling platform to match your own taste. You would change the business name, the logo, taglines and make every other personalisation changes necessary to make you feel more at home and help your customers connect to you better, not your wholesaler.

You would need to complete your website set up by including important links to your about page and contact information to enable anyone looking for your kind of service get in touch with you faster.
The changes to be made on the website are not usually something hard, to begin with, and you could do everything smoothly by yourself but you could also opt to get the services of a web professional to help you out. Either way, make sure it is done to your taste and perfection.

READ ALSO: How To Start Recharge Card And Data Bundle Business

4. Promotion
Your business would bring in no income if you don’t get out there and let people know what you do. A lot of organizations need to send their customers messages regarding changes, felicitations on their birthdays or to pass information across, and making your business known to them is your first step to building a customer base. Banks, churches, schools, offices etc. are the perfect place for you to start.
Do your promotion on every media available to you. Go onto social media and let the whole world know about your services. As a start-up entrepreneur, you may want to appeal to their desires by offering your services for reduced rate. Trust us, you would still end up ginning your profits in the long run. What you need do now is get that customer base going.
Print some fliers and handbills detailing your Bulk SMS service and include reasons why people should choose you over all others. Talk to family and friends to help you advertise by word of mouth and soon enough, you would have enough clients to deal with.

5. Pitch your customers
Funny enough, a lot of organizations do not even know what they are missing out on by not using the bulk SMS service, and this is where you come in. Exploit that chance by creating a marvelous presentation of what their business stands to gain by partnering with you. Let them know that they can have messages sent at much more reduced rates than service providers would charge and also that they can customize these messages to let their customers know that it is from them. Throw a little more fascinating data in the mix and watch as they warm up to you and the idea.

From the above, you would have started your bulk SMS business with little capital and a great return on investments.

Business Ideas / 70+ Best Business Ideas To Start In Kenya by Ikoiikenna: on Sat at 01:56pm
Are you interested in start a profitable business in Kenya today but don’t the best business opportunity to invest into? If yes to this question, then you are at the right place. Below we will discuss over 70 small business ideas and profitable investment opportunities in Kenya that you can start with small capital and enjoy huge returns.
Kenya is among the African countries with the best and fastest growing economy and so therefore is a fertile ground for entrepreneurs (both native and foreign) to invest in. with millions of people to patronize you, starting a business in Kenya is definitely a worthwhile investment.

To get you started, we will in this post discuss the top 70 small business ideas and investment opportunities in Kenya.

Read Also: Small Business Ideas And Investment Opportunities In Cameroon

TOP 70 BEST SMALL BUSINESS IDEAS IN KENYA
Driving school
Restaurant business
Car washing
Laundry service
Soap making
Real Estate
School And College
Poultry Business
Consulting
Office supply
Brick making
Security services
Travel Agency
Event Planning
Computer repair and sale
Tricycle transport
Selling recharge vouchers
Rabbit farming
Pest Control
Vending Machine
Vehicle Towing
Ecommerce Store
Coaching
Taxi Cabbie
Auto Mechanic
Cooling Van Business
Day Care Centre
Entertainment
Career Counselling
Bakery
Solar Power Business
Ebook writing
Advertising Campaign Developer
Selling Snacks and Foods
Janitorial Service
Freelance Writing
Cement Manufacturing/ Sale
Baby sitting
Government Contractor
Mobile Device Sale and Repair
Disc jockey
Aquaculture
Gardening and landscaping
Garbage collection
Clothe selling
Selling Insurance Policy
Appliance Repair
Chemical Merchant
Employee training
Private Lesson Teacher
Clixsense
Business Start-up Instruction
Content Developer
E-commerce consulting
Direct Mail Consulting
Copy Writing
Adventure Club
Perfume Making
Cold water starch
Hotel Supply Farming
Red earth worm
Blogging
Creating Music Videos
Massage therapy
Detergent production
Cassava Farming
Angel Investors
Biography Writing
Micro Jobs
Affiliate marketing

Read Also: Business Ideas & Investment Opportunities In Ghana

Manufacturing/ Production / How To Start A Match Stick Manufacturing Company by Ikoiikenna: on Sat at 01:19pm
Match stick is a simple wooden item used to start fire in a controlled atmosphere. Match-stick is seen and used in many household and industries to start fire for cooking or to burn waste products or heat up energy.

There is a huge market for this product and it continues to grow because there is a need for match-stick. Match-stick is usually packaged in small and medium boxes and sold in quantities. So if you are looking for a business to go into or invest in that will give you good returns in a short period of time, then you should consider going into this business.

This article will show you tips on how to start amatch-stick production business. Continue reading...

Read Also: How To Start A Nylon Production Business + Free Business Plan

1. WRITE A BUSINESS PLAN:
Writing a business plan is the starting point of a business, it is like a light way path for any entrepreneur because it enables one to focus and strive on their business goals.

2. GET YOUR FUNDS READY:
When you have your business plan at hand, the next step is to prepare the funds for your business. If you do not have the required funds at hand,you can solicit for a business grant or loan from micro finance banks or from bank of industry sponsor by the government of Nigeria to assist entrepreneurs in their businesses with little or no interest to pay back.

3. RENT A PROPERTY:
You will need to find a suitable property to rent once you are able to secure the funds for your business. When deciding on a property, you need to consider getting one in a busy district and also make sure it has enough space to use as office and for your equipments.

4. ENSURE TO REGISTER THE BUSINESS:
There are a couple of brands already out there and in other to differentiate yours from the lots, you need to pick a name for your business, get the required license and register your business with the authorities in charge. This will save you a whole lot of harassment and show that you mean business.

5. SOURCE FOR YOUR RAW MATERIALS:
Wood is one of the major material used in producing matchstick. The word"matchstick" already tells you that wood is the main component, so now all you need is to know the type of wood that is used to produce the woodensplint and find a supplier of that particular wood. Also, you need to find where you can get the other raw materials like, the chemicals use for processing and flaming the matchstick (phosphorus and paraffin wax) and some colourants to make your matchstick different from others.

6. PURCHASE EQUIPMENT:
The major equipment needed for production is;
*Head composition machine
* Splint machine
* Air compressor
* Polishing machine
* Log conveyor

Read Also: How To Start A Profitable Toothpick Production Company

7. MARKET YOUR PRODUCT:
When you are done with production, you need to come up with good marketing techniques that will get people to recognise and patronise your product. One of such technique is to offer discount or incentive to customers, this will motivate them to buy from you because people always patronize subsidized product.

Also, you can marketyour product tohouseholds, restaurants, bars, eateries, industrial companies, retailersand wholesalers. People uses matchstick for one purpose or another, so you can be sure there will always be a market for your product.And that's all there is. Study them seriously and good luck with your matchstick production business.

Insurance / Top 36 Insurance Companies In Nigeria by ikoiikenna: on Sat at 12:28pm
There are so many reasons why businesses need an insurance policy, our previous article on Four Types of Insurance Cover That Every Business Should Have pointed out some of these reasons and the type of insurance every business must be insured for. However, there are over a thousand and one insurance companies in Nigeria and more are constantly springing up on a constant basis making it harder for business owners to choose and get insured by them. In a view to easing this difficulty, we have compiled a list of top 36 insurance companies in Nigeria that you or your company can secure insurance policy from.

Haven mentioned that difficulty in choosing from the great number of insurance companies, it's not necessary to say that it's invariably hard to rate them as well. However, we compiled this list considering different factors such as:-
- reliability
-integrity
-response rate and time
-how know are they
-record track
-testimonials / customers rating
insurance

Before considering to purchase insurance from any of the insurance companies around, consider the above features of the company - the company must be well known to the general public, have a reputable track record and above all must have good positive testimonies before you purchase insurance from them.

Below is a list of top 36 insurance companies in Nigeria, these companies have over time been considered among the country's best. However, purchasing insurance from any is left for your discretion and it's advised you carry out further investigation before signing an insurance contract.

1. Aiico
2. Amen insurance company
3. Custodian insurance plc
4. Adic insurance
5. Consolidated hallmark insurance
6. African Alliance insurance company Ltd
7. Lead way insurance
8. A&G insurance
9. IGI insurance [Industrial and general insurance plc]
10. continental Reinsurance
11. Gold link insurance
12. Cornerstone insurance plc
13. Niger Insurance Plc
14. Crusader insurance plc
15. NEM insurance plc
16. Equity life insurance Co. Ltd
17. Mutual Assurance Plc
18. Guaranty trust assurance
19. Staco insurance plc [Standard trust plc]
20. International energy insurance plc
21. NICON
22. LASACO assurance plc
23. The Law Union and rock insurance
24. Oasis
25. Linkage Assurance Plc
26. Mutual benefits
27. NAICOM
28. Royal Exchange
29. Nigeria deposit insurance
30. Oceanic insurance limited
31. Prestige insurance brokers Ltd
32. Sovereign trust insurance
33. TransGlobal insurance broke
34. Unic insurance
35. Unity insurance company Ltd
36. Zenith assurance company.

(Page 1 of 20) (1) (2) (3) (4) (5) (..) (19) (20) (Last)

(Go Up)


Links: (0)
West Entrepreneur Forum - Copyright © 2017 Eucarl Global Resources. All rights reserved.
Disclaimer: Every West Entrepreneur member is solely responsible for anything that he/she Post or Uploads on Westentrepreneur