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W.E/General / The 12 Biggest Money Mistakes People Make by ikoiikenna: Last month on Mon 19 at 06:43pm
I think it’s best to start our week reminding ourselves some money mistakes that kept some people poor. If you must be rich; there are certain mistakes you must learn to avoid. You can avoid these mistakes – you know why? You have them beforehand! So, this should help you fortify yourself against them. This piece was posted to my private WhatsApp group by a member, and I felt I should share with us.

Money Mistake 1:
Never borrow money that accrues interest to start a business (except if you are paying for it through your salary); only borrow to grow your business. This is because business takes a long time to gain ground and begin making a profit, yet most loans repayments have to be made within a month of taking the loan or even earlier. Therefore, never borrow money to start a business expecting that the business will generate income to pay back the borrowed money plus the interest.

Money Mistake 2:
Never spend money you haven’t received. Don’t even promise someone money based on a promise you have from someone else. If someone tells you: “Paul, come to my office tomorrow at 9am and pick #50K” don’t go out to buy items on credit based on this promise, with the hope that you will pay off your creditor when the promised money comes; it may not come as promised and this will leave you in problems with your creditors.

Money Mistakes 3:
If you want to save, whenever you receive money, don’t start spending hoping that you’ll keep what remains. Normally what’s left is zero because as long as money is available to spend, the numerous things you can spend it on are also available. And when money to spend is not available, we naturally find a way of doing without it. That’s why I’ve learned to save with an INVESTMENT CLUB. Once I send money there, I assume I no longer have it. Before you spend any money, put your savings aside then spend what is left after saving.

Money Mistake 4:
When you get an opportunity to meet a very wealthy person, never ask for money. Ask for ideas on how to make money. They may even choose to give you money on their own after seeing that your ideas are great.

Money Mistake 5:
Keeping your seed instead of planting it. When you save, your savings are seed; plant it. When you just keep the seed (saving money) some seeds begin to die (eaten by inflation and the like). That’s why I recommend that you read about the different types of investment vehicles you can use to grow your savings.

Money Mistake 6:
Never lend someone money you are not willing to lose. By the time you lend someone money, be content in your heart that if the person fails to pay, you won’t die else advise the person to go to the bank or check elsewhere.

Money Mistake 7:
Never append your signature to guarantee someone on a financial matter if you are not willing or able to pay the money on their behalf. Do I have to explain that one? No, it’s self-explanatory.

Money Mistake 8:
Avoid keeping the money you don’t intend to use in the short-term within easy reach. For instance, if you need only #20,000 don’t walk with #100,000 in your pocket. If not, you will realize spending more that you budgeted.

Money Mistake 9:
Spending money on an item that you can do without (at least for the time being). These days when I pick money from my pocket or wallet, before paying for something I ask myself: What would happen if I didn’t buy this? If I find I can live with the consequences of not having that thing, I smile and walk away.

Money Mistake 10:
Paying an amount for something that’s not the minimum you can get that same value for. In other words, if you are in Ikeja and you pay #5K for a shoe that you can get at #3K at Oshodi market, that’s a money mistake except for those who have achieved financial freedom.

Money Mistake 11:
Consistently spending all you earn or more than you earn. It’s like having a drum where you have an inlet that’s smaller than the outlet. It will never get full. And should the inlet ever reduce significantly the drum will run dry. If you do it the other way round and the inlet is bigger, it will get full and even overflow

Money Mistake 12:
Thinking about short-term only and forgetting about long-term or thinking about the long-term and forgetting about the short-term. For instance, Lydia was told that there’s money in land. She saved money over a long period and bought 30 acres of land. Now she has the land, but she is always broke. She is always complaining. She’s disgruntled, and she doesn’t seem to see herself earning from the land shortly. Now, let’s ask us: Having 30 acres of land and no money to feed your family or take a child to the hospital, is that wealth or poverty? I think Lydia only looked at long-term needs and forgot that she has short-term needs that require money. What of those who find they are one paycheck away from salary? Do they think about the long-term needs?
Refrence: www.earnbase.com/12-money-mistakes-made-people-kept-poor/

Registration/Licencing / How To Register A Business Name In Nigeria by Ikoiikenna: Last month on Sat 17 at 04:29pm
Have you started up a business as an entrepreneur and wondering what to do to get it above average? If yes then this is for you. No matter what type of business you are planning to start or you have started, there are couple of things you must do to leap success and one of such things is Registering of your business name with the cooperate affairs commission.

It important you understand that legalization of your business is the best step you can take to guarantee posterity and success.

No matter what business ideas you have, or you have started, you definitely need customers, with the technology around, Customers can easily tell a legitimate business from scam, and the first step to prove your serious and up for business is to register your business name, it makes you original and not a xerox like not registering would portray.
No matter how equipped you are or how high your expertise, without registering you business, you will likely have no business.

So, if you want to register your business name in Nigeria follow this trend and learn all the necessary steps to take. This steps are practicals as I have helped registered many registered there business names.

Technology / Re: How To Start Recharge Card And Data Bundle Business by Ikoiikenna: Last month on Sat 17 at 03:31pm
I was hoping you would ask.

Well this is a breakdown of it, with all you need to start.

Follow me.....

Basically, Data share business is simply Buy and share.
This how it works :

Say you buy a minimum of 10gb depending on the network provider ( Note however that only MTN, GLO and ETISALAT are doing data sharing service based on my practical knowledge so far) for N10,000 and share with clients. This means you have 10gb to sell or share at 1gb each. If you sells the 10gb at N1,500 per 1gb, that amounts to N1,500 x 10gb =N15,000. When you remove the N10,000 being the cost of the 10gb, you will be left with a profit of N5,000 from selling 10gb in just one day.
The amount you sell per day depends solely on your market reach.

Step To Start:
1. Migration

Here, you migrate to MTN SME DATA SHARE PLAN. This is the plan that allows you to buy data in bulk from MTN and resell at profit.

To migrate SMS 465 to 131. This will migrate you to  MTN SME DATA SHARE PLAN.

Step 2: Start Buying Data
Requirements - minimum of N10,000 start-up capital payable to the network provider (mtn or Glo or etisalat)

Sports Trading / Re: Make #50,000 To #100,000 Monthly From Football Betting With Ease by Ikoiikenna: Last month on Sat 17 at 01:17pm
peterklems:please i need the Ebook, i\'m conversant with sport betting and i have been playing for years now. is usually one win, and several loses. please i will be glad to get the ebook to stop my many loses. ceeklemspeter@gmail.com

Check your mail, its been sent to you mail. Am sure you would have understood the trend. Share out the forum to all your social network and invite friends to join.

Technology / Re: How To Start Recharge Card And Data Bundle Business by ericpitch: Last month on Sat 17 at 12:20pm
how much can I use to start data bundle business. and how I'm I going to start it..thank you

Sports Trading / Re: Make #50,000 To #100,000 Monthly From Football Betting With Ease by peterklems: Last month on Sat 17 at 08:49am
please i need the Ebook, i'm conversant with sport betting and i have been playing for years now. is usually one win, and several loses. please i will be glad to get the ebook to stop my many loses. ceeklemspeter@gmail.com

Sports Trading / Re: Make #50,000 To #100,000 Monthly From Football Betting With Ease by peterklems: Last month on Sat 17 at 08:43am
please i need the ebook. i\'m convesant with sport betting and i have been playing for years now, but is one win several loses. will be glad to get it and stop my loses. thank you! my E-mail ceeklemspeter@gmail.com

Technology / How To Start Recharge Card And Data Bundle Business by ikoiikenna: Last month on Thu 15 at 09:31pm
Have you ever wanted to start a Recharge card business? if yes then io thought you should note, However, this is by far the easiest and the cheapest way to start recharge card and data sharing business – trust me. As a matter of fact, Every mobile phone uses this service for at least three months to do my recharge card and data sharing business. before we dive right into it, let see reasons why this business remains and will continue to be lucrative.

Reasons Why You Should Consider This Method

NO Software is needed It is solely an online business.
Geographical location does not limit you: This means that you can sell to people are Nigeria; it’s an online business!

No Printer needed Printing is not necessary as it is entirely online.

No POS needed You don’t need to start looking for another 60,000 to buy POS.

It’s Easy to get started As a matter of fact; you don’t need anything to get started then just your mobile number! Even a NOKIA touch light phone will do; as long as you can receive SMS.
You know your profit from the start of the business: With this business; you know exactly what you are going to make as you already know how much each recharge card costs.

It is a passive income Even while you are asleep as the business can run with or without your presence.
You have a FREE website for the business: Did I just say FREE website? Yes, FREE website to run your recharge card and data sharing business.

It is the CHEAPEST Yes, it is the cheapest way to start recharge card business as you can start with 5,000. Yes, you heard me right!

Please, drop your questions in comments below, and I will attend to it swiftly.

Agriculture / How To Start Livestock Feed Production In Nigeria by ikoiikenna: Last month on Thu 15 at 09:09pm
Do you want to become a specialist in livestock feed production? Are you planning on starting your own feed production? Do you want to break the chain of poverty by doing what you love in exchange for money? Here are cooled ways you can start.

One of the lucrative and profitable agricultural business in Nigeria of today is livestock feed production business because there isn't much competition in this field as many investors haven't sighted it to be ranking.

A key factor that reign in any livestock farmers mind is to see their herds becoming fatter and healthier, they rear their herds with proffer to believe of making something real from it.

Though a livestock feed producer should go through the process of knowing the right ingredients for his produce. There are some ingredients that duly enables the easy and brilliant growth of any livestock like wheat, kernels cake, oyster shell, bone meal and lots of others.

Before letting the cat out of the bag, think of what areas of specialization could be more fruitful and more effective. Is it, birds feed, rabbits or the ruminant animals' segment. Research about it on time.

Livestock Feed Production

Now let's look strategically and aim-fully into what it takes to start your livestock feed production business.

Formulate your formula.

Feeds aren't just going to be mixed, grounded and packaged without the right amount of ingredient mixing and evaluation.

Livestock is liable to develop infections if ingredients like fibers, vitamins, protein, and carbohydrates aren't there. They still would be disastrous if you don't insert the right volume of this ingredient.

Meet a livestock nutritionist to help you generate your specialization formula and after this, you can shoot the next arrow.

Purchase the necessary ingredients

Livestock feed is solely based on reproducing raw foods into grounded form.

Some common ingredients are corn and maize for energy, soya beans meal, wheat offal for protein, fish meals, kernel cake, oyster shells, minerals, common salt and hydrating elements. It costs less than hundred thousand nairas to purchase this ingredient depending on the volume.

After purchasing your ingredients, you would have to kick the next ball.

Purchase the needed equipment

Though you might be less financially buoyant while purchasing the necessary machines and engines. Here you can reach out to those industries that have it and finally, you can pay them while they process the food for you, after all, you would have to do it for a while and thereafter, you can get yours available.

If you have the money, some of the equipment are; grinders, mixers, pellet maker, elevators, steam boiler, cooker, sifter, crumble maker, conveyors, freezer, weighing scales, packaging bags, sealers and bag sewers.

Purchase them yourself, if you can't, reach a specialist or an expert.

Sum it all

While succeeding in getting the necessary things.

You need to get a name for yourself, register your farm and off you go for efficient production.

Also, you need to market your product and surely you shall marvel at the end of the day. Don't forget packaging and strategy give birth to success. Aim high!

Manufacturing/ Production / Re: Ideas On How To Start Detergent Soap Manufacturing by ikoiikenna: Last month on Thu 15 at 09:03pm
danieluyi:

I\'m tired bro. I don read am over and over again. It keeps confusing my brain like a chemistry textbook. I sent you a PM containing my whatsapp number. Please add me so I can ask you questions on the powder detergent production steps that I don\'t understand.

At the moment, the only thing I understood after reading is mix caustic soda and water in a plastic container using a 4:1 ratio. mix soda ash light and water in another plastic container using a 4:1 ratio. 5. Prepare each solution on a separate container. 6. Store all materials properly.

Gbam, that\'s all I could understand. I have never made soap before. maybe there might be some aspects of the book where the reader is expected to connect the dots using previous soap-making knowledge and this could be why I\'m unable to understand it past that point I wrote in above paragraph because I have zero knowledge of it. I don\'t even know what caustic soda is or how it looks, same with the soda ash light.

Except for the soda ash light, the caustic soda that was mixed with water using the 4:1 ratio is not listed among the specimens required for the POWDERED DETERGENT (synthetic) FORMULATIONS .

I will be very grateful if you could shed some more light. I really really need to know how to make powder detergent soap because that is the first part of the production business. Thank you.



Smiles.... I understand. i have collected your number and have also sent you mine. I think it's better we talk there.

Manufacturing/ Production / Re: Ideas On How To Start Detergent Soap Manufacturing by danieluyi: Last month on Thu 15 at 08:57pm
Ikoiikenna:Go through it again, you are getting it mixed up. Well I will try and get a production video along, though that would not be anytime soon.


I'm tired bro. I don read am over and over again. It keeps confusing my brain like a chemistry textbook. I sent you a PM containing my whatsapp number. Please add me so I can ask you questions on the powder detergent production steps that I don't understand.

At the moment, the only thing I understood after reading is mix caustic soda and water in a plastic container using a 4:1 ratio. mix soda ash light and water in another plastic container using a 4:1 ratio. 5. Prepare each solution on a separate container. 6. Store all materials properly.

Gbam, that's all I could understand. I have never made soap before. maybe there might be some aspects of the book where the reader is expected to connect the dots using previous soap-making knowledge and this could be why I'm unable to understand it past that point I wrote in above paragraph because I have zero knowledge of it. I don't even know what caustic soda is or how it looks, same with the soda ash light.

Except for the soda ash light, the caustic soda that was mixed with water using the 4:1 ratio is not listed among the specimens required for the POWDERED DETERGENT (synthetic) FORMULATIONS .

I will be very grateful if you could shed some more light. I really really need to know how to make powder detergent soap because that is the first part of the production business. Thank you.

Advertising/ Marketing / Best Ways To Attract More Customers To Your Business by ikoiikenna: Last month on Thu 15 at 08:38pm
There are various ways to attract customers in the business world. There are expensive ways and there are low-cost ways. When you have the intention of attracting your audience in business you are either advertising or marketing a product or a service. From this post let us look at how a product or service can attract the right audience.

A good product and service are one of the things we need to stand out of the crowd in the business world. Your product should be able to solve problems of individuals. The relevance of our products and service is the problem we are solving. The bigger the problem you solve the bigger your relevance in that market or business. Your product and services play a big role in the process of attracting your target audience.customers

Make a brand. A brand is made up of the product or service, the culture of the organization, the identity, what the business entirely stands for. A brand distinguishes, it identifies you, it makes you known in a crowd, it is more of a symbol but more than a symbol, it is a good name. Sometimes all we need to be at the top to lead our market and to attract our target audience is by consistently being a good brand which is one of the features of quality products and services. The experiences by the first customers in your target audience you had can influence people around her for patronizing your product. How excited and satisfied they determine if they will come back and bring others along with them. Cheers!

Go directly to your audience. Go to them, Approach them face to face among other various marketing activities and advertising also have a web presence to mention a few. Tell them about your product, let 1 trial convince them that is if your product is up to the task. If your product is of good quality as you claim you should not have a problem gaining your target audience. If you are in the right audience where your product is needed if the products are of good quality and also if the product solves a relevant problem in that area you are almost there. What you now need is to communicate to them by passing the right information.

These are few of what you can do to gain the attention of your target audience in business. For your product to be highly recognized it should solve a relevant problem. Solve something majority of individuals cannot do without. Solving the problem is not enough as your competitors are also solving same problems how quality, unique and effective is your product, how affordable and realistic is the projected brand. For me making a brand a household name due to its quality is the best strategy and technique in getting across and having the attention of your customers at all times.

Manufacturing/ Production / Re: Ideas On How To Start Detergent Soap Manufacturing by Ikoiikenna: Last month on Thu 15 at 04:01pm
Go through it again, you are getting it mixed up. Well I will try and get a production video along, though that would not be anytime soon.

Manufacturing/ Production / Re: Ideas On How To Start Detergent Soap Manufacturing by danieluyi: Last month on Thu 15 at 03:39pm
danieluyi:Add all the materials into a low speed mixer except ABS. Mix very well. Add the ABS or DDBS kg by kg as you mix. Let the mixture set then strain through a fine mesh (About 200 ms) DDBS and Idet 10 are brand names of ABS.

Please I do not understand some things:

1: Since water is part of the powdered detergent mixture, I assume it has to be dried to get the final detergent?

2: I also assume some sort of grinding takes place in the production process to get the smooth powdered detergent

3: if my guess is right, I will require some sort of grinding machine, and drying machine too. If yes, what is the estimated cost of buying these machines? Will I be able to get them in Lagos?

Thank you.





Please explain better.
Thank you.

Manufacturing/ Production / Re: Ideas On How To Start Detergent Soap Manufacturing by danieluyi: Last month on Wed 14 at 09:35pm
Ikoiikenna:

Wow, thanks.
Diamond bank : 0067981952 : Ikoi Abode Ikenna


Done. It is just a token anyway. Thanks

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