Thursday, 3 April 2014
The Real Truth About Making Money Online And Why You Would Never Make Any Money.
First Of All, I am not a rich Guy, infact i am not rich..
But 1 think i know very well is that i am pretty good at making money online and i can show anybody the right way to make money online.
The real truth is that making money online is very easy,
If and only if you know what you are doing.. and you master the art of promoting yourself properly.
This article is not about how to make money online,
But why you are currently not making any money online.
Some years back when i started my entrepreneur dream i wanted to make money online fast.
So i was jumping from one latest offer to another. Until i finally discovered what i was doing wrong.
I discovered that
the real truth about making money online is that you must choose and focus on
one particular thing at a time.
You cant be blogging, at the same time doing fiverr, affiliate marketing and info marketing.
Yes you can do those when you have finally laid a good foundation for yourself.
Not when you are just starting out and you are yet to make a dime online.
You would complicate things for yourself.
So what i would advice you do is
1.choose one part of online marketing, and focus on it {my best advice is information
marketing}
2. Get a mentor who has a record of making money online... and force him to coach you
till you make it.. but know that it wont be free.{ people i recommend are Ronald Nzimora,
Joe Okoro and patrick Ogidi.. Just google up their Name}
3. Know that making money online is not a stroll in the park, it has to do with
a lot of thinking, sleepless nights and hardwork..
My last words before i go....
Never believe anybody who tells you that making money online is simple.
Or anybody that tells you, you dont have to work anything to make money.
The real truth is for you to make money online, you must be willing to work hard.
Because money does not come easy online..
See you next Time
Kindly Leave Your Comments Below.
Sunday, 26 May 2013
HOW TO RAISE UP CAPITAL TO FINANCE YOUR BUSINESS
Financing Your Start-up & Raising Capital
Finding the money you need
It is important to explore all of your financing options before making a decision; several sources to consider are:- Personal Savings: This is the primary source of capital for most new businesses.
- Friends & Relatives: Many entrepreneurs look to friends and family when starting a new business. This can be a great way to get funding for a reasonable interest rate.
Make millions from craft painting
Interestingly, there are no rules in art, only materials. You have the opportunity to express yourself the way you like.
Henry Ward Beecher says, “Every artist dips his brush in his own soul, and paints his own nature into his pictures.”
Starting a craft painting business can let you share your joy of painting with the world, showcase your talents as an artist and have a buoyant account at the same time.
How to Start a Barbing Salon Business in Nigeria
How to Start a Barbing Salon Business in Nigeria
Barbing Salon Business in Nigeria– Do you want to make money in Nigeria? I suggest you set up a barbing salon business. Or doesn’t the barbing salon business sound like a real money spinner to you? You are very wrong!
The barbing salon business is not a seasonal business in the sense that our hair is consistently growing. So as virtually all guys and some ladies hair and beard will always need grooming, shaving or trimming, there will always be clients/ customers for any barbing salon business.
This article will show you how to start a barbing salon business in Nigeria.
When you are planning on setting up a profitable barbing salon business in Nigeria, you should put the following factors into consideration.
Training /Apprenticeship: I strongly advise that before you set out to open and run your own barbing salon business, you should apply to be an apprentice with an already existing barbing salon business. I mean, there is so much to learn; hair cut styles, hair treatment, beauty tips, health tips, customer and management care. So take up to three months to learn the basic skills and ropes involved in the business. Even if you will not be the person giving the actual haircuts, do not hurry to become a barbing salon owner. Undergo significant training first, the longer the training, the better!
Register Your Barbing Salon Business with the Corporate Affairs Commission Nigeria: Before you render any hair grooming service to the public, make sure that your barbing salon business is registered with the Corporate Affairs Commission Nigeria and any other hair groomers’ association recognized in your area. The cost of getting a business name and registering your business is quite affordable. I have noticed that most people fail to see the importance of registering their business with the CAC Nigeria. So how will your business flourish if after operating for a while, the government shuts you down? Situations like these hurt the business as you will loose present and potential customers. So go ahead and register the business.
Business Location: Choosing the location of the barbing salon business is very important. Here are some factors you should consider;
- A high-traffic area – Busy roads, streets, neighborhoods etc, shopping malls or around places people visit frequently are perfect.
- Your barbing salon should be easily accessible. Traffic and parking problems may drive your clients away.
Capital: Figure out how much money you to set up a barbing salon in Nigeria. When counting the cost in starting a barbing salon business here is what to consider:
- Rent for the Shop (monthly/ yearly as the case may be)
- Generator Set (for power outages)
- Quality Clippers (with efficient blades and the cutting steps)
- Wall Mirrors
- Comfortable Barbing Chairs and furniture for the waiting area.
- Clippers Sterilizing Unit
- Hair Treatment Materials (e.g. Sets of combs, scissors, powder, spirit, lotions etc)
- Entertainment (TV, DSTV, Sound System, newspapers/magazines)
Make Your Customers Stay: Getting and keeping customers is what brings in money for every business. The same applies to your barbing salon.
- Make sure you have the required instruments and skill to execute a wide different hair styles and latest styles in fashion.
- Take note of your customers’ preferences and implement them.
- Be gentle but time conscious while attending to a client. Hire capable and well trained personnel.
- As much as you need to charge enough to make profit, you should not charge too much or your customers will run away. Find out what other barbing salons around your area charge and fix yours within the same price range.
- One way to be sure to get customers is by doing a good number of “free of charge “hair grooming for people. Trill them with new offers or special promos and you have got customers for life. Nigerians love freebies remember?
Start Small: Most people make the mistake of wanting everything in proper place before opening for business. I advise that you start small and grow from there. Success, they say, grows upon success.
I believe that as you follow our guidelines, you will make good success at starting your own barbing salon business in Nigeria. All the best in your endeavors!
SOURCE ==www.makemoneynigeria.com
Saturday, 18 May 2013
100 ADVICE ON HOW TO START YOUR OWN BUSINESS FROM SUCCESFUL CEOs WORLDWIDE
100 ADVICE ON HOW TO START YOUR OWN BUSINESS FROM SUCCESFUL CEOs WORLDWIDE
1. I wish I would have known how unpredictable things can be at ALL times. I read a lot before starting my business and realized unexpected things happen, but never did I realize the frequency in which they do. You really need to learn how to adapt everyday to things you may not have forseen waking up that morning. – Scott Fineout
2. Before going into business I wish I knew the importance of having an established “Advisory Board”. Having a mentor is one thing but having a counsel of people who are not only experts in various business related functions but are also cheerleaders and coaches for your success is another. – Kellie L. Posey
3. I wish I knew about the value of keeping it simple. Starting out young with plenty of energy and great ideas led me down many paths of distraction. Instead, by focusing first on what sells, why and at what price and then staying true to that over time, I would have saved a lot of headaches, time and supported profitability a lot sooner. The saying KISS is popular for a reason and particularly applicable when you’re an entrepreneur. - Deborah Osgood
Thursday, 9 May 2013
101 BUSINESS IDEAS YOU CAN START WITH LITTLE OR NO CAPITAL
loyal subscriber want to know it fast
After much consideration am releasing to you my loyal subscribers
my own list of the top 100 business ideas you can start with little or no capital
HERE THEY ARE
1. Real Estate Agent.
2. Training
3. Teaching
4. Marketing, online/offline
5. Bulk SMS Seller,
6. GSM numbers seller
7. Bulk e-mail Marketing
8. Cleaning Services
9. Cares services provider
10. Coaching
11. Web Site Designing
12. Web Hosting
13. Movies Directing, writing
10 AMAZING WAYS A STUDENT CAN MAKE MONEY IN NIGERIA
and frustrating if you are not financially bouyant. most especially
when the semester is coming to an end. This is the period you see
most Big boys on campus selling their expensive phones just to survive.
And as you know yours truly, have friends in most of this schools,
and i have been receiving call from students that i should write an
article on how they could make money in school.
SO HERE IS IT 20 WAYS A STUDENT CAN MAKE MONEY IN
SCHOOL
This article intends to show you as a teen or student
in the college or university some 10 cool businesses you can do today with the little bucks you may have and grow it to the extent of getting whatever you want without bothering your parents.
Friday, 3 May 2013
HOW TO BECOME A SELF MADE BILLIONAIRE
Do you want to learn how to become a billionaire in 10 years or less? What would you do if you had a billion dollars? If I were to present you with a step by step plan on how to be a billionaire (as told by the self made billionaires), will you be willing to learn? If your answer to the last question is yes, please read on.
I am Osaro Destiny, an entrepreneur, investor and founder of this blog. For many years, i have been teaching entrepreneurs how to start a business and today, I want to share with you a practical step by step approach to becoming a self made billionaire. Sincerely speaking, I know I am not qualified to teach you how to become a billionaire because I am not yet one but on the other way round; It’s my ultimate dream to become a billionaire in my lifetime and I have been taking mentorship lessons from these billionaires. So it’s these lessons I have received that I want to pass across to you.“We are self made, or never made.” – Dr Sidney Newton
“If you can count your millions, you are not a billionaire.” – J. Paul Getty
Since I am on a journey to become a billionaire;
I think it’s worthwhile I share with you my plan and the steps I intend
to take to achieve that goal. I want to clearly state that all I have now is just a dream, a strong will and a plan to become a billionaire; nothing more, nothing less.
Now What Does it Take to Become a Billionaire Fast?
After
understudying the lives of billionaires such as Bill Gates, John D.
Rockefeller, Henry Ford, J. Paul Getty and Aliko Dangote; I came to a conclusion that it takes nothing special to become a billionaire. After all, most of the richest people in the world today were school drop out billionaires. To become a billionaire, all you need is a dream, a strong will and a fast plan. Once these three things are in place, the journey has commenced.
“It is my utmost desire to become a billionaire in my life time and also give away billions of dollars. I don’t think any paid employment on earth can help me achieve that dream. If I become a billionaire in my life time, I will just be another self made entrepreneur on the list. But if I don’t; I will die knowing I gave that dream my best shot.” – Ajaero Tony Martins
How does one become a self made billionaire Fast?
My answer is I don’t know. There’s no outlined format, path or pattern to becoming a billionaire. In the book “Rich Dad’s Guide to Investing,” Robert Kiyosaki highlighted that there several ways to become rich. He stated that you can become rich by inheritance, by being a crook or by marrying someone rich.
Well, I see some truth in the statement above. The Walton family today are billionaires; thanks to an inheritance from the founder of Wal-Mart, Sam Walton. There are also billionaire drug lords and ladies; who acquired wealth by crooked means
and there are billionaire sports personalities and stars like Tiger
Woods and Jay-Z. Now in retrospect, there are those who marry for money;
that is why the media is occasionally filled with stories of billion
dollar divorce lawsuits.
“I think it is a man’s duty to make all the money he can, keep all that he can and give away all that he can.” – John D. Rockefeller
So how do I intend to become a billionaire? I don’t know. All I can say is that I
intend to become a billionaire the same way my mentors and models such
as Warren Buffett, Aliko Dangote and Larry Ellison have done it. I intend to apply the same strategy they applied.
“If you want to successfully go up the mountain, ask the man who has gone through it to and fro.” – Zen Master
How long does it take to become a billionaire?
If you observe the entrepreneurial path of successful entrepreneurs; you will come to understand the fact that there was no set time or guarantee that they would emerge billionaires. These successful entrepreneurs just started the journey, maintained focus and one day, they emerged billionaires.
“Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.” – Warren Buffett
So
how long will it take me to become a billionaire? I don’t know because I
might never get there. It took Aliko Dangote approximately 30 years to
become a billionaire and emerge the richest black man in the world. It
took John D. Rockefeller 25 years of oil drilling and distribution to
become a billionaire. It approximately took 10 years for Bill Gates,
Larry Page, Sergey Brin, Jerry Yang and David Filo to become
billionaires. But Mark Zuckerberg became the youngest billionaire in the
world in less than five years.
“Twenty years and $40 billion; they seem like good round numbers.” – Michael Dell“I was worth about over a million dollars when I was twenty-three and over ten million dollars when I was twenty-four, and over a hundred million dollars when I was twenty-five and it wasn’t that important because I never did it for the money.” – Steve Jobs
So if it’s your goal to become a billionaire in your lifetime, then just start the process and forget about the time it would take to get there. After all, Entrepreneurship is a journey, not a destination.
“The most important thing is to enjoy yourself and continue to work. Life is a journey, not a destination. That’s also true in business; your objectives keep moving.” – Thomas J. Burrell
How to Become a Self Made Billionaire
1.Start with a dream
“I intend to be, the richest man in the world.” – Howard Hughes“It does not take money to make money.” – Robert Kiyosaki
Becoming a billionaire begins with a dream.
One of the free gifts given to us by our creator is the gift of
imagination. It costs nothing to dream but most people don’t dare to
dream and those who do, dream small.
“People who dream small dreams continue to live as small people.” – Rich Dad“Aim for the highest.” – Andrew Carnegie
On several occasions, I have shared my dream with friends and all I got were fingers pointing at me saying; “you must be a joker.” Do statements like that deter me? My answer is no. I still continue to dream big and pursue that dream vigorously. If becoming a billionaire is your lifetime goal; then allow your mind to wander; dream big and shut your ears to critics.
“I always knew I was going to be rich. I don’t think I ever doubted it for a minute.” – Warren“You are nuts and you should be proud of it. Stick with what you believe in.” – Trip Hawkins“All men dream, but not equally. Those who dream by night in the dusty recesses of their minds wake up in the day and find out that it was vanity. But the dreamers of the day are dangerous men, for they may act their dreams with open eyes to make it possible.” – T. E. Lawrence
2.Develop the billionaire’s mindset
“If I lose a billion dollars, I will have it back in less than five years.” – Henry Ford
The
second step to becoming a billionaire is to develop the mindset of
billionaires. Do you know that the thinking capacity of millionaires
differ from that of billionaires? To become a billionaire, you must
develop your mindset to accommodate that status. You must think big and
you must also increase your capacity to handle the corresponding risk.
“You must take risks, both with your own money or with borrowed money. Risk taking is essential to business growth.” – J. Paul Getty
Becoming a billionaire means being willing to risk failure;
you must also bear in mind that achieving any worthwhile goal in life
requires sacrifice. You must see possibilities in the actualization of
your dreams and ultimately, you must train your eyes to see opportunities disguised as problems; you must see opportunities others don’t see.
“Someone asked me, ‘how can I find a good business opportunity? I replied, ‘go and look for adversity.’ If you can handle adversity, you will find opportunity. Adversity and opportunity are two inseparable twins.” – Ajaero Tony Martins“A good businessman must have nose for business the same way a journalist has nose for news. Once your eyes, ears, nose, heart and brain are trained on business, you sniff business opportunities everywhere. In places where people see a lot of obstacles, I see a lot of opportunities.” – Orji Uzor Kalu“If you want to go broke; go it big. I will prefer to lose a billion dollars than to lose a million dollars.” – Ajaero Tony Martins
3.Increase your business skills
“Skills make you rich, not theories.” – Rich Dad
Increasing
your business skills is essential to the entrepreneurial process. In
fact, becoming a billionaire requires more than just business skills. It
require financial intelligence, strong intra personal skills and
investing skill. Making money is a skilled act; making money is all
about utilizing your acquired entrepreneurial skills.
“The ability to sell is the number one skill in business. If you cannot sell, don’t bother thinking about becoming a business owner.” – Rich Dad
4. Develop a fast business idea
“There are fast ideas and slow ideas, just as there are fast trains and slow trains. When it comes to money, most people are on the slow train looking out the window watching the fast train pass them by. If you want to become rich quickly, your plan must include fast ideas.” – Rich Dad
From my personal point of view, this is where the work begins in the entrepreneurial process to becoming a billionaire. To achieve your dream of becoming a billionaire, you need a fast business idea; accompanied by a fast plan.
“All achievements, all earned riches have their beginning in an idea.” – Andrew Carnegie
Now what do I mean by a fast business idea and a fast plan? In previous articles, I stressed the point that the world is filled with brilliant ideas but the world lack seasoned entrepreneurs. This is why I emphasized you increase your business skills before ever starting a business; the world is filled with brilliant ideas.
Any idea can take you to the place of your dreams but if becoming a billionaire is your priority, then any idea is not enough. You need a fast business idea. A fast business idea is an idea that’s hot in demand; an idea that’s in line with the growing trend. A fast idea solves a very critical problem and most times; fast ideas are always the pioneer solution to people’s problems or needs.
As an illustration to prove the importance of developing a fast idea, I will share with you the following stories. Early 1900, there was a growing demand for oil throughout the world and entrepreneurs such as John D. Rockefeller and J. Paul Getty took advantage of this growing demand; and they became billionaires. When the demand for affordable means of transportation came up, Henry Ford took advantage of it and became a billionaire; so also did Cornelius Vanderbilt.
“I have no complex about wealth. I have worked very hard for my money; producing things people need.” – J. Paul Getty
Aliko Dangote saw a growing demand for commodities in Nigeria and he positioned himself as a fast solution provider; today, he is not only a billionaire but also the richest black man in the world. Computers came as a trend and Bill Gates, Steve Jobs, Larry Ellison, Ted Waitt and Michael Dell developed fast ideas to take advantage of this trend; and they ended up becoming billionaires.
“I’m the NO 1 developer in New York. I’m the biggest in Atlantic City, and maybe we will keep it that way.” – Donald Trump
The
internet came as a trend and Larry Page, Jerry Yang, Steve Case, Jeff
Bezos, Pierre Omidyar and Mark Zuckerberg developed fast ideas to take advantage of the trend and they became billionaires. So if you want to join this list of billionaires; you need to develop a fast business idea.
Now how do you develop a fast idea? I don’t know, but a great way to start is to ask yourself the question; “What is the next coming trend? Will it be biotechnology, alternative power, genetic engineering or something else? Only time will tell.
How to Become a Billionaire Fast
5.Find a business coach or mentor
Let me divulge a secret to becoming a billionaire to you. If you are mentored by a billionaire; chances are high that you will end up a billionaire. I have seen young entrepreneurs perform excellently simply because they are being mentored by billionaires. So when looking for a business coach or mentor; find one that’s a billionaire already or has direct access to billionaires
“Seek advice on risk from the wealthy who still take risks, not friends who dare nothing more than a football bet.” – J. Paul Getty
A good way to go is to seek business mentors who are Venture Capitalists, investment bankers, Angel investors and deal makers.
Getting a business coach from any of these fields will do you good and
you will learn tremendously from their wealth of experience. Now how do you break into this circle of great men? My answer is I don’t know. All I can say is to repeat what Winston Churchill said:
“He who must dig will surely find a spade; where there’s a will, there’s a way.” – Winston Churchill
6.Start a business
“To build wealth today, you must be in your own business.” – J. Paul Getty
What has starting a business got to do with becoming a billionaire?
My answer is everything. Take a look at the successful entrepreneurs
who are billionaires; take a look at the school drop out billionaires of
this world like Larry Ellison or Bill Gates and you will observe a
pattern. They all built mega businesses and those mega businesses made
them rich. To make you understand the point I am trying to buttress,
take a look at the list below.
How Billionaires Made their Money
- 1900 – Andrew Carnegie made his money from steel – $475 million
- 1910 – John D. Rockefeller became a billionaire in oil – $1.4 billion
- 1920 – Henry Ford became a billionaire in the auto industry – $1 billion
- 1940 – Howard Hughes became a billionaire with military aircrafts, contract, tools and movies – $1.5billion
- 1957 – J. Paul Getty became a billionaire in oil – $1 billion
- 1962 – Henry Ross Perot became a billionaire with EDS – $3.8 billion
- 1970 – Sam Walton took Wal-Mart public and became a billionaire – $22 billion
- 1980 – Ron Perelman made fortune as a Wall Street deal maker – $3.8 billion
- 1990 – Jerry Yang founded Yahoo! – $3.7 billion
- 2008 – Aliko Dangote became the richest black man in the world as a manufacturer – $3.3 billion
- 2010 – Mark Zuckerberg became a billionaire with FaceBook.com – $6 billion
“Build wealth as a byproduct of your business success. If wealth is your only objective in business, you will probably fail.” – J. Paul Getty
So
if these men became billionaires simply by building businesses; then
there’s surely a door way to becoming a billionaire through
entrepreneurship. Even Warren Buffett, the acclaimed richest investor in
the world made his money as an entrepreneur, by building and leveraging
Berkshire Hathaway. If you are already in business, then develop a fast
plan, stay focused on building your business and keep learning. You
will surely hit your goal even if it takes a long time.
“The richest people in the world build networks; everyone else is trained to look for work.” – Rich Dad
7. Assemble a strong business team
A
strong business team is vital to achieving your dream of building a
business and becoming a billionaire. My mentor, Aliko Dangote; the
richest black man in the world once attributed his success to his
business management team and if you should take a critical look at his
statement, you will observe the truth in its entirety. No successful
entrepreneur ever became a billionaire alone; they all have a team of
professionals, who are smarter than they are.
“Successful businessmen share the ability to hire people smarter than they are.” – Dillard Munford
Your business management team will really prove vital to you especially in the game of raising venture capital.
No venture capitalist or private investor will invest in a business
that lacks a strong team. Just as a venture capitalist friend of mine
told me in a discussion that:
“VCs would rather invest in a business venture with an average product and a strong management team than invest in a business with an excellent product with a weak management team.”
So whenever a protégé ask me the secret of raising capital successfully, I reply; “Go and assemble a strong business team.”
As simple as that answer may be, it’s the ultimate secret to raising
capital and eventually becoming a billionaire. Who’s on your team? This
is a million dollar question that most entrepreneurs take for granted.
So are you still interested in becoming a billionaire; then find a team
that will work with you towards the actualization of your goal.
8.Raise capital for your business
“If you owe the bank $100, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.” – J. Paul Getty
Raising
capital is essential to the process of becoming a billionaire. In the
points I mentioned above, I emphasized the need to develop a fast
business plan and start a business. Now the flipside is that you will
require capital to leverage the potential of a fast business idea. You
can raise capital by approaching angel investors, Venture Capitalists
and private investors with your business idea.
But
I want to state clearly that there’s more to raising capital than
simply approaching investors and asking for money. Raising capital is a
process that requires continuous learning; you need to keep learning how
to pitch investors. The manner in which you pitch angel investors is
quite different from the way you pitch VCs; so you have to learn both.
But
ultimately, expect disappointments. A good piece of advice I normally
give to my protégés is to tell them to start a small business with
whatsoever they have. I believe in thinking big, starting small and finishing big; I encourage them to also do the same. Facebook,
Google, Yahoo, Apple and Amazon all started small until the funding
came. I also started small and grew my capital base with time, so I expect you to do the same. Start small but think big.
“Despise not the days of little beginning.” – The Holy Bible
9. Take your company public
“Taking a company public is the rite of passage for any entrepreneur.” – Rich Dad’s Guide to Investing“Unfortunately, we are not a public company. We are a private group of companies and I can do what I want.” – Richard Branson
I don’t believe going public is a key to becoming a billionaire, but since most of the world’s billionaires all started companies that went public; I had to become a believer. The dream of almost all entrepreneurs is to see their company listed on the market. Analyzing the Bill Gates, Larry Ellison, Sam Walton and Martha Stewart experience; I think going public is a big leap in your quest to become a billionaire. Think of it as a kind of financial leverage; using other people’s money to grow.
“If you are acquired, a company validates you. If you go public, the market – the world validates you.” – Fortune magazine
Nobody can definitely force you to go public but if it’s a way forward for you, then you
better start learning the rudiments of building a company that will end
up going public because it is a task that requires great responsibility.
“The new issues and IPO market is just like other businesses. The market is always looking for the flavor of the month. If you want to be very rich, part of your strategy as a business owner is to be building a company the market want, before the market wants it.” – Rich Dad’s Guide to Investing
10.Invest in other businesses
“Once you have made it, you will understand that any business is limited in the challenges it offers. You will want and need other games to play, so you will look for other ventures to hold your interest.” – J. Paul Getty
This
is probably the easiest part in the process of becoming a billionaire.
Whether you go public or not, your business has the potential to make
you a billionaire but to maintain that status; you will have to make a
couple of external strategic investments. This is another scene where
the need for a business team comes into a play.
“Men of means look at making money as a game which they love to play.” – J. Paul Getty
- In February 1998, Warren Buffett disclosed that he had acquired 130million ounces of silver and stored it in a warehouse. Warren Buffett; at several intervals has made strategic investments in Goldman Sachs, Coca Cola and other companies.
- In September 1998, Canadian business ran an article indicating that Bill Gates has made a buy in silver, acquiring a 10.3% stake for $12million of a Canadian silver company listed on the Vancouver stock exchange.
- In 2010, a TV analysis on Oracle Corporation revealed that Larry Ellison has led Oracle to acquire 57 companies in a space of five years. If these self made billionaires are still investing even after hitting the pinnacle of success, why shouldn’t you.
11.Stick to the process
“You must not only learn to live with tension, you must seek it out. You must learn to thrive on stress.” – J. Paul Getty
This is probably the most difficult task of all. Most people are very good at starting things but sticking to it until it yields result becomes a problem. Success does not come overnight; it’s a product of continuous unwavering effort. Just as every goal requires a process; so does the goal to become a self made billionaire requires a process, and that process is not an easy one.
“I built a conglomerate and emerged the richest black man in the world in 2008 but it didn’t happen overnight. It took me thirty years to get to where I am today. Youths of today aspire to be like me but they want to achieve it overnight. It’s not going to work. To build a successful business, you must start small and dream big. In the journey of entrepreneurship, tenacity of purpose is supreme.” – Aliko Dangote
Sticking to the entrepreneurial process of becoming a billionaire implies staying focused on your goal; while avoiding distractions and negative influence. Sticking to the process may imply making a few sacrifices; handling disappointments with a positive attitude and facing business challenges bravely.
“Patience; this is the greatest business asset. Wait for the right time to make your moves.” – J. Paul Getty
As a final note, i
want to clearly state that becoming a billionaire is within the reach
of every individual but unfortunately, many will not aim for it
because anything worth having has a price tag; and many dread the price
of success. They would rather live in mediocrity than attempt to go
beyond their comfort zone.
Now that i have taken the pain to explain the process of becoming a billionaire fast, i believe the rest is up to you. If becoming a billionaire is your dream, I encourage you to pursue that dream vigorously and I will see you at the top.
“God is such a loving father. He gave everyone of us a blank signed check. Anything you write on that check will be yours. But unfortunately; most people die poor because they don’t dare to write something big on that check. That check is a gift called life.” – Osaro Destiny
100 FUNNY BUSINESS QUOTES
*attributed where sources were available
If you see a bandwagon, it’s too late. James Goldsmith
Early to bed and early to rise probably indicates unskilled labor. John Ciardi
Why join the navy if you can be a pirate? Steve Jobs
The problem with the rat race is that even if you win, you’re still a rat. Lilly Tomlin
He’s taking this company to hell, and we’re riding shotgun.
She got kicked upstairs. (She was promoted to a higher position that’s less appealing than her current one. This is business jargon.)
Don’t piss on my back and tell me it’s raining. Old West quote
Run your idea up the flagpole and see if anyone salutes it.
We have paralysis by analysis.
Get the right people on the bus and in the right seat. Jim Collins
The only place success comes before work is in the dictionary. Vidal Sassoon
When you’re up to your armpits in alligators, it’s hard to remember to drain the swamp. Ronald Reagan
Tell them what you’re going to tell them, tell them, then tell them what you told them. Communications axim
When you assume, you make an “ass” out of “u” and “me.”
Don’t beat a dead horse.
Never try to teach a pig to sing. It wastes your time and it annoys the pig. George Bernard Shaw
Always forgive your enemies. Nothing annoys them more. Oscar Wilde
Don’t corner something meaner than you. Old West saying
Failure is not an option—it comes bundled with the software.
A picture is worth 1,000 words, but it uses up 3,000 times the memory.
The successful man is the one who finds out what is the matter with his business before his competitors do. Roy L. Smith
Eagles soar, but weasels don’t get sucked into jet engines.
Every employee rises to the level of his own incompetence. The Peter Principle
Work expands so as to fill the time available for its completion. Cyril Northcote Parkinson/Parkinson’s Law.
The light at the end of the tunnel has been turned off due to budget cuts.
There’s an idiot somewhere deprived of a village.
A successful man is one who can lay a firm foundation with the bricks others have thrown at him. David Brinkley
A meeting is an event at which the minutes are kept and the hours are lost.
She works well when under constant supervision and cornered like a rat in a trap.
She should go far. The sooner she starts, the better.
The higher a monkey climbs, the more you see of its behind. Joseph Stilwell
They slipped into the gene pool when the lifeguard wasn’t looking.
He has hit rock bottom and started to dig.
Success in almost any field depends more on energy and drive than it does on intelligence. This explains why we have so many stupid leaders. Sloan Wilson
The wheels are turning, but the hamsters are all dead.
Make it idiot-proof and someone will make a better idiot.
I learned long ago, never to wrestle with a pig, you get dirty; and besides, the pig likes it. George Bernard Shaw
If you give him a penny for his thoughts, you’ll get change.
Nothing is illegal if a hundred businessmen decide to do it. Andrew Young
There’s no secret about success. Did you ever know a successful man who didn’t tell you about it? Kin Hubbard
There’s no business like show business, but there are several businesses like accounting. David Letterman
Don’t worry about people stealing your ideas. If your ideas are any good, you’ll have to ram them down people’s throats. Howard Aiken
If it’s stupid but works, it isn’t stupid.
If work is so terrific, why do they have to pay you to do it?
There’s an enormous number of managers who have retired on the job. Peter Drucker
By working faithfully eight hours a day you may eventually get to be boss and work twelve hours a day. Robert Frost
Accomplishing the impossible means only the boss will add it to your regular duties. Doug Larson
Success is going from failure to failure without loss of enthusiasm. Winston Churchill
A budget tells us what we can’t afford, but it doesn’t keep us from buying it. William Feather
If you can count your money, you don’t have a billion dollars. J. Paul Getty
The worst part of success is to try to find someone who is happy for you. Bette Midler
A company is known by the people it keeps.
At some time in the lifecycle of every organization, its ability to succeed in spite of itself runs out.
Money can’t buy friends, but you can get a better class of enemy. Spike Milligan
Success is relative. It is what we can make of the mess we have made of things. TS Eliot
If you would like to know the value of money, try to borrow some. Benjamin Franklin
Don’t stay in bed, unless you can make money in bed. George Burns
If not controlled, work will flow to the competent man until he submerges.
If you don’t know what to do with many of the papers piled on your desk, stick a dozen colleagues initials on them and pass them along. When in doubt, route. Malcolm S. Forbes quotes
It is better to spend money like there’s no tomorrow than to spend tonight like there’s no money. PJ O’Rourke
Never invest in anything that eats or needs repairing. Billy Rose
If at first you don’t succeed; you are running about average. MH Alderson
The most popular labor-saving device is still money. Phyllis George
Nothing recedes like success. Walter Winchell
Find a job you like and you add five days to every week. H. Jackson Brown
It’s hard to lead a cavalry charge if you think you look funny on a horse. Adlai Stevenson
If at first you don’t succeed, try, try again. Then quit. There’s no point in being a damn fool about it. WC Fields
Rome did not create a great empire by having meetings, they did it by killing all those who opposed them.
Artificial intelligence is no match for natural stupidity.
If at first you don’t succeed, failure may be your style. Quentin Crisp
Never put off until tomorrow what you can avoid altogether.
A clean desk is a sign of a cluttered desk drawer.
All you need in this life is ignorance and confidence, and then success is sure. Mark Twain
If at first you don’t succeed, try management.
Indecision is the key to flexibility.
If at first you don’t succeed, take the tax loss. Kirk Kirkpatrick
Aim low, reach your goals, and avoid disappointment. Scott Adams/Dilbert
Life is like a dogsled team. If you ain’t the lead dog, the scenery never changes. Lewis Grizzard
The best way to appreciate your job is to imagine yourself without one. Oscar Wilde
All paid jobs absorb and degrade the mind. Aristotle
In the early days all I hoped was to make a living out of what I did best. But, since there’s no real market for masturbation I had to fall back on my bass playing abilities. Les Claypool
Beware of any enterprise requiring new clothes. Henry Thoreau
Do not underestimate your abilities. That is your boss’s job.
Right now, this is a job. If I advance any higher, this would be my career. And if this were my career, I’d have to throw myself in front of a train. Jim Halpert/The Office
Every man has a right to be conceited until he is successful. Benjamin Disraeli
You never become a howling success by just howling. Bob Harrington
Success means only doing what you do well, letting someone else do the rest. Goldstein S. Truism
Success and failure are both difficult to endure. Along with success come drugs, divorce, fornication, bullying, travel, meditation, medication, depression, neurosis and suicide. With failure comes failure. Joseph Heller
Victory goes to the player who makes the next-to-last mistake. Savielly Grigorievitch Tartakower
Success is simply a matter of luck. Ask any failure. Earl Wilson
Never interrupt your enemy when he is making a mistake. Napoleon Bonaparte
One of the greatest victories you can gain over someone is to beat him at politeness. Josh Billings
There’s nothing so improves the mood of the Party as the imminent execution of a senior colleague. Alan Clark
I’m not the smartest fellow in the world, but I can sure pick smart colleagues. Franklin D. Roosevelt
Make sure you have a vice president in charge of your revolution, to engender ferment among your more conventional colleagues. David Ogilvy
A consultant is someone who takes the watch off your wrist and tells you the time.
An expert is someone called in at the last minute to share the blame.
Speak the truth, but leave immediately after.
For maximum attention, nothing beats a good mistake.
One of the symptoms of an approaching nervous breakdown is the belief that one’s work is terribly important. Bertrand Russell
D'banj's brother K-Switch set to launch his own record label
Every artist in Nigeria now wants to own a record label. Ki lo de? If
everyone is a record label exec, who are y'all going to sign? Anyway,
Sister Caro crooner K-Switch is getting ready to launch his own record
label called Products Republic, which he says means a
republic for anybody who thinks he/she is a product. The record label
will be under D'banj's DB Records and will be launched with K-Switch's
Scam 101 mix-tape in June.
Thursday, 2 May 2013
15 GROWING BUSINESS YOU CAN DO IN NIGERIA
15 Fastest Growing Small Business Opportunities in Nigeria for 2013
Before I begin listing the fastest growing business opportunities in Nigeria; let me tell you how I came about this list.
Sometime ago, I handed out a task to some members of my strategic business team and that task was to research and get a detailed report on the fastest growing business opportunities in Nigeria with moderate risk and strong profit potential
within a defined time frame. After several weeks of painstaking
research, my business team reported back to me with an in-depth list of 500 Hottest Business Opportunities in Nigeria for 2013.
Well; if you must know why I mandated such task to be carried out, then I am going to spill it. As at the time of this writing, I
am currently developing a strategic diversification plan with my
business team and we are looking at the various options of business
opportunities available.
So while I am not going to tell you the specific industry i will be breaking into; I am going to share with you a short extract from my list of 15+ fastest growing business opportunities in Nigeria, as researched by my team.
What if You Don’t Have the Money or Capital to Start a Business?
Now i know Nigerians are enterprising and industrious, but the inability to access the necessary funds or capital is what is holding back most Nigerians. The Federal Government went a step ahead to initiate a programme called “YouWin” and to be sincere, i really laud this proactive measure.But the problem is that YouWin can’t finance everybody’s business; you must learn to raise money on your own without going to the bank
So without wasting your time, below is a brief extract of the fastest growing small business opportunities in Nigeria.
15 Fastest Growing Small Business Opportunities in Nigeria for 2013
Agricultural Sector
1. Catfish and Poultry Farming
The first of the fastest growing business opportunities in Nigeria is catfish farming. The primary reason I listed catfish farming as one of the fastest business opportunities in Nigeria
is because it’s an emerging industry that hasn’t reached its peak or
full potential. The major players in this business are usually regional
players. What this means in essence is that each major player in the
catfish farming industry is focused only on a particular business
terrain within the geographical location of the farm.
So
all you need to do is look for a region with a growing demand that
haven’t been covered by a major player and situate your business there.
As for poultry farming, the ban imposed by the federal
government of Nigeria with respect to the importation of live or frozen
poultry birds has only helped explode the demand. Snail farming is also another under-exploited money maker.
When accessing any of these business opportunities listed above, you must note three important facts. One, food is one of the basic necessities of man, thus making catfish, snail and poultry farming a huge potential.
Two is that the population in Nigeria is estimated to be over 150
million and growing so that entails a growing demand for food. Three is
that even if the local market with 150 million Nigerians gets saturated
(which I strongly doubt as this niche is still in its adolescent phase),
there’s still a growing demand for catfish all over the world. So do
your own in-depth analysis and put your money to work.
Textiles Sector
2. Importation of wears
Importation of clothes (designer wears) into Nigeria is another fast growing business opportunity you can tap into but I must warn you; you will be breaking the law if you engage in this business because there’s a ban by the federal government on the importation of wears. I listed this business opportunity for those who have the entrepreneurial guts to take calculated risk.
Update: The ban on importation has been lifted by the federal government of Nigeria.
Another reason I listed the importation of wears as one of the fastest growing business opportunities in Nigeria
is because the ban cut short its supply thereby leaving a gap of demand
that can only be filled by brave entrepreneurs. Please don’t assume I
am trying to hype you or something; I am a player in this line majoring
mainly in men designer wears which is imported from China and India. I
source corporate wears from Hong Kong because of the quality of their
finished product. Enough said.
3. Sewing of specialized uniforms
If
you don’t have the entrepreneurial guts to go into the importation of
wears; then you can set up a small scale textile firm that will
specialize in sewing uniforms. The demand for uniforms is on the
increase in Nigeria; from the crèche to the labor market, uniforms are
highly in demand but it’s advisable you do your own detailed research
before venturing into the business.
Transportation Sector
4. Inland water way transport
Inland water way transport is one of the fastest growing business opportunities in Nigeria.
In fact, I believe the niche is still untapped because I am yet to see a
modern commercial boat or ferry service system in Nigeria. Though there
are a few operators in this industry; I am yet to see the modern
facilities being used by the developed countries.
Another
reason inland water way transport business proves viable is because
population in states such as Lagos, Ogun state and Rivers is rapidly on
the rise thereby resulting in the congestion of roads. Since the roads
are becoming heavily congested; the next means of transportation the
inhabitants of these heavily populated states will resort to is water
transport. With proper planning, a good management team and adequate
funding, you can break into this untapped industry and carve a niche for
your business.
5. Haulage and logistics
Haulage
and logistics is another fastest growing business opportunity in
Nigeria. Though it’s considered a risky business; you can breakthrough
if you have a strategic business management team on ground. Good
management is the key to surviving in the business of haulage and
logistics.
6. Outsourced bus service
This
is similar to haulage and logistics but the cargo in this case is
humans. I am not talking about the regular road transport bus service;
in fact, I don’t think I have seen the idea for this business been
utilized by anyone.
Now in this case, you are
providing transportation services to firms and corporate entities. Some
corporate organizations can’t afford an in-house transport system for
its executives and staff, so this is where you come in. You provide the
cars or buses, provide the drivers and you are paid on a monthly bases
or contract bases for the use of your transport services.
Another
area of target is schools. Most schools would like to provide transport
facilities for their students but they can’t afford it and this is
where you come in. You provide a bus service system and send out a
proposal to schools to use your bus services. Just imagine 20 or more
young schools jointly using your student bus service system and you will
catch the vision of this idea.
Information and Communication Technology
When
it comes to ICT, I will say Nigeria is lagging behind when compared to
the western world. It may sound like bad news to you but to
entrepreneurs and investors, it is good news. ICT is still an emerging
trend that hasn’t reached its peak so a lot of opportunities exist for
both local and foreign investors. I won’t go into the capital intensive
business opportunities that exist in the ICT sector; rather, I will
stick with small and medium scale business opportunities.
7. Cyber Café
The
demand to stay connected to the rest of the world is rapidly on the
increase and the cost of internet connection is still on the high side
when compared to what is obtainable in the western world, thereby making cyber café an alternative for internet users; and an investment opportunity for entrepreneurs.
This business can be started either on a small, medium or large scale
but I will prefer a large scale because size can be a competitive edge
for you in this business as customers won’t like to be kept waiting.
Customers
of this industry want speed and efficient service and most importantly;
they want to be sure to find a vacant computer system anytime they want
to surf the web without having to wait in line. If you can get a good
location; provide speedy internet access and provide complementary
services; you are in for a breakthrough.
8. E-Services
Just as the world is going e-crazy; so also is Nigeria catching up with the trend. E-services provision is still a virgin business opportunity that hasn’t fully been tapped.
Under the umbrella of providing e-services; you can find the following
fast growing business opportunities: E-payment, bulk Sms services, web
design and hosting, database management services, e-portal management,
etc.
15 Fastest Growing Small Business Ideas in Nigeria for 2013
Education
The
need for education is on the increase and the burden to provide quality
education is getting heavier for the government to bear thereby,
leaving room for private and institutional investors. The following are
ways you can tap into the potential opportunity.
9. Schools
A
lot of institutional and private investors have gone into building
quality schools and providing quality education but the potential has
not been reached. With a population of over 150 million Nigerians, where
65% are below 40; there’s still untapped potential in this niche.
You
can access this business opportunity from different entry levels. You
can tap into this niche by providing either crèche, primary, secondary
or tertiary education but all entry levels holds strong potential.
Please carry out your own analysis before investing in any level of this
business opportunity.
10. Seminars
Not
everyone loves being educated within four walls of school. Some prefer
street smart education or high speed learning and that’s where you come
in. You can set up a seminar company that organizes coaching services
according to the current needs and trends of the society.
11. Training centers
Specialized
training or educational centers is another fast growing yet untapped
business opportunity in Nigeria. Examples of specialized learning
centers are Leadership training schools, entrepreneurial centers,
training centre for the gifted and physically challenged, training
centre for hobbies and crafts, etc.
12. Tutorial centers
With the proliferation of academic and professional exams, tutorial centers have joined the list of fastest growing business opportunities in Nigeria.
You can access this business opportunity by choosing or specializing on
a training need. You can focus your proposed tutorial centre on any of
the following: ICAN, GMAT, WAEC, JAMB, GSCE, CIS, job interview
training, etc.
15 Fastest Growing Small Business Opportunities in Nigeria for 2013
Green Energy and Technology
With
a global increase in the awareness of environmental degradation and its
hazard, the world has resorted to finding an alternative “green
energy.” Nigeria is not left out in this global awareness that has
created massive opportunities for smart entrepreneurs and investors. If
you feel green is the next business trend on board, then below are the fastest growing business opportunities in the green energy and technology sector of Nigeria.
13. Waste management
With an increased awareness in the need for environmental conservation; opportunity has popped up in Nigeria in the area of waste management.
When analyzing the waste management business opportunity, I observed
that two factors are responsible for the potential in the business and
you must make sure these two factors are in place before deciding on an
area of service.
One is a bursting population
and the second is a strong environmental policy and its enforcement. So
far, two states in Nigeria that has taken the lead with respect to these
two factors and these states are Lagos and Imo state. But I believe
great potential still lie in other states of Nigeria. Do your own
personal research before venturing into this industry.
14. Waste recycling
The
next fastest growing business, yet untapped business opportunity in
Nigeria is waste recycling. I don’t need to expatiate on this as the
details are clear. You can venture into either bottle and can recycling
or nylon recycling. You can even embark on a waste to green (manure)
project as Nigeria has a huge demand for organic and inorganic
fertilizer.
15. Alternative power
The last but not the least of the fastest growing business opportunities in Nigeria is alternative power supply.
In recent times; Nigeria has seen an explosive increase in the demand
of power supply thus creating an avenue for smart entrepreneurs to
capitalize on. Solar energy, Wind energy and bio energy are some of the alternative power supply system that
are currently making waves in the country but the present alternative
power supply service providers cannot meet up the demand thereby leaving
room for other creative investors. With a good plan, adequate capital
and a strong business team; you can break into this niche.
As a final note, I want you to know that of the numerous small business ideas, opportunities and potentials available in my country Nigeria,
I believe the ones listed above are potential money makers but I
emphasize you do your own feasibility study before investing a dime in
any of these business opportunities.
How to Start a Poultry Farm Business and rake in excess cash
Over time, I have gotten several questions regarding the issue of starting a poultry farming business and writing a poultry business plan. So in this article, I will be sharing with you strategic information on how to start a poultry farming business from scratch and grow it successfully.
Poultry farming is a viable business anytime any day; and to be sincere with you, it’s a business I have been considering for some time now. Below are reasons why I consider poultry farming a profitable business?
3 Factors that makes Poultry Farming a Profitable Business
There are a lot of factors that make poultry farming business a profitable one but I will be highlighting only three major factors:- Food is one of the basic needs of man. Regardless of the economic situation, human beings must feed and since domestic birds are consumable; that makes poultry farming feasible.
- My country Nigeria for instance has a population of over 150million and growing; bear it in mind that a huge population means a huge demand for food (egg and meat).
- With the increased awareness on the health implications of red meat; there’s an increased demand for white meat and birds are a source of white meat.
How to start a Poultry Farming Business
1. Select your Poultry Niche
The poultry industry is a broad niche. There are many sub-sectors in the poultry industry which you can tap into. Below are niches in the poultry business:- Egg production (Layers breeding)
- Meat production (Broilers breeding)
- Chicken breeding (Hatchery)
- Poultry feed production
- Poultry equipment manufacturing
- Egg and meat processing, packaging and marketing
2. What type of bird will you be focusing on?
Poultry farming can further be classified into the types of birds:- Domestic fowl or Chicken (Broilers and layers)
- Turkey
- Guinea fowl
- Pigeon
- Duck
- Goose
3. Start-up Capital Investment
The poultry farming business is capital intensive; depending on the scale, location of your farm and the type of management technology used. A small scale poultry farm being run behind your house may require a capital of between $500 – $1,500. A medium scale poultry farm may require $2,000 – $5,000 and a large scale poultry farm may require a start-up capital of $10,000 and above. Like I stated earlier, scale is directly proportional to capital.4. Poultry Location
A good location is vital to the success and profitability of your poultry farm. An ideal poultry farm should be sited where there’s a large availability of cheap land and at the same time; should be close to areas with high population density. It’s not advisable to site your poultry farm within a residential area because of the offensive odour it produces.5. Housing your birds
There are three methods you can employ with respect to housing your birds. They are:- Extensive system: Range and fold unit
- Semi Intensive system: Standard semi intensive unit and straw yard
- Intensive system: i. Deep litter, ii. Wire and slated floor, iii. Straw yard, iv. Battery cage.
6. Poultry equipment and appliances
The following equipment may be needed for your poultry farm:- Feeders
- Drinkers
- Perches
- Nests
- Crates
- Lighting system
- Waste disposal system
- Incubator
7. Projected return on investment
The incubation period of the domestic fowl is 21 days. You can start selling off your birds as early as 8 – 12 weeks but full maturity is reached between 20 – 24 weeks. The payback period of a poultry farming business is between 3 – 5 years.8. Poultry Farm staffing and manpower
Five Challenges of Starting a Poultry Farming Business
The following are the challenges of starting a poultry farm- High start-up capital
- Longer pay back period
- Outbreak of diseases
- Labor intensive
- Pests and predators
HOW TO START A BUSINESS FROM SCRATCH
Today, I will be writing a different kind of article. I will be sharing with you how to start a business from scratch based on my entrepreneurial experience.
If you are expecting some kind of magical pills from this write up; I am so sorry you will be disappointed. In this article, I am not going to say anything new with respect to starting a business or building a business; all I want to do is share the business lessons and entrepreneurial experience I have accumulated over the years. So if you are ready to learn how to build a successful business from scratch; then read on.
How to Start a Business from Scratch and Five Lessons i Learned from the Process
I
have built businesses from scratch and I am still building more. It’s a
game I love because of the challenges it offers. Anybody can wake up
tomorrow and buy a business but not everyone has the guts to start and
build a business from scratch. Now why start a business from scratch
when you can buy an already established business? I will answer that
question in detail in the forthcoming articles.
As
I lay on my bed today, I reflected over my life and the business
challenges I have faced and surmounted. As I reflected over the past, I
remembered the moment when I first started out as an entrepreneur. I
remembered the feeling I had inside of me; a feeling mixed with fear and
excitement. I knew the step I was about to take was a dangerous one and
I was afraid; because I knew I could lose it all. But I was equally
excited about starting a business because it was a bold step towards a
life of uncertainty; I was happy because I was taking control of my
destiny.
“Nothing gives me a sense of fulfillment more than building successful businesses from scratch. Once my goal is achieved in a particular business; I exit and start another business. Building businesses from scratch is where my passion lies and I am not quitting until death.” – Ajaero Tony Martins
more about ajaero tony martins here he is the ceo of strategicbusinessteam
It
seems like yesterday, when I first started out as an entrepreneur and
here I am today, still grinding it out; hoping I will get to the place
of my dreams.
“It is always the start that requires the greatest effort.” – James Cash Penny“Building Oracle is like doing math puzzles as a kid.” – Larry Ellison
Looking
back over the years I have spent as an entrepreneur, I have been able
to extract five lessons that will help you in the entrepreneurial
process of building a business from scratch.
This
article is not only about the business challenges I have faced; it’s
about my entrepreneurial experience in general and the lessons I picked
up along the way. If you are looking for an article that deals
intensively with business challenges and how to handle them; you can
check the archives.
My ultimate aim of writing
this article is to get you prepared. Yes, i want you to be prepared in
advance for the unknown. Just as an old saying goes: “To be forewarned is to be forearmed.”
Without wasting much of your time, below are five hard core business
lessons I have learned over the years of building and exiting
businesses.
How to Start a Business from Scratch and five Business Lessons I have learned from the process
Lesson One: The fastest way to build a successful business from scratch is to fail fast
What
the hell is this guy saying! That’s usually the exclamation I hear from
my protégés when I tell them lesson one. Nobody wants to fail; neither
do they want to be associated with failure and maybe that’s why most
people will never start a business successfully.
“Success
is a poor teacher. We learn the most about ourselves when we fail, so
don’t be afraid of failing. Failing is part of the process of success.
You cannot have success without failure.” – Rich Dad
To
build a successful business, you must be willing and prepared to fail.
Though your ultimate aim is to succeed and not fail, but if failure
comes; accept it, pick up the lessons and move on.
I
have not seen a successful entrepreneur without a stint of past
failure. Just as Rich Dad said above, failure is part of the process of
success. All great entrepreneurs have had one or two experiences of
failure. As an entrepreneur, I have hit ground zero a couple of times
but I don’t think I am alone in this ordeal.
“The business empires built by successful entrepreneurs were erected on the foundation of past failures.” – ANONYMOUS
a) Thomas Edison failed 10,000 times before he invented the incandescent bulb and this is what he has to say;
“I have not failed. I have just found 10,000 ways that won’t work.” – Thomas Edison”I have not failed. I have just found 10,000 ways that won’t work.” – Thomas Edison
b) Henry Ford had two business failures and with the experience gathered from those business failures, he went on to build Ford Motor Company and became one of the richest men in history.
“Failure is just a resting place. It is an opportunity to begin again more intelligently.” – Henry Ford
C) Sir Philip Green had four business failures before he hit his first million at the age of 33.
d) Robert Kiyosaki had a major business failure when his Nylon and Velcro wallet company crashed; and with the experience from this failure, he went on to build the Rich Dad Company.
“Losers quit when they fail. Winners fail until they succeed.” – Robert Kiyosaki
From
the illustrations provided above, you will come to agree that failure
is not as bad as it’s painted to be. Human perception towards failure is
the major reason why I hate talking about my successes. Success
stories; though inspiring, seem to attract fools and lazy bums into the
world of business and investing. I believe you will learn more from my
failures than my successes. Have I had my own share of business failure?
My answer is a resounding yes.
“I can accept failure, everyone fails at something. But I cannot accept not trying.” – Michael Jordan
- The very first seminar I organized was a flop. We advertised heavily, the response and inquiry rate was good; and my expectations were high. But on the D-day, it rained heavily and the expected attendees failed to turn up. I lost 100 percent of my invested capital including that of my partner.
- I have lost money in a couple of online investments that didn’t yield a dime.
- My first information product flopped even after investing heavily in buying ads. No single sale was made, not even a dime. But that did not stop me from creating other information products.
- I once signed up for a multi-level marketing company. The company was great; the products were excellent and the compensation plan was superb. The company had a proven track record of success and successful distributors to show for it. Everything was perfect but once again, I failed to breakthrough. I think I will share the lessons learned from this particular experience and if you must know; the company I signed up for was GNLD, I still have their membership card with me. The card reminds me of the time spent with great men and women, who rose from grass to grace.
- I have been a distributor for two different companies that ended in liquidation.
- My first major online business flopped because I lacked experience and the technical know how to run it.
- I have being shut out of good business and investments opportunities simply because of my nationality. I want to state categorically that I am a Nigerian to the bone and I am proud of it; I love my country.
- I have had good business ideas that i failed to bring into reality and i also had some businesses launched but failed to break even.
- I was a shareholder of a bank that went bankrupt. The bank ended up being nationalized and my shares became worthless.
- On several occasions, i was offered the opportunity to invest in some startup companies but i turned them down and these companies became big companies.
“Get mocked at for as much as you can, fail as much as you can but don’t quit. Let every mockery, every failure, be a source of inspiration for you to reach for greatness and that greatness will silence your critics.” – Ajaero Tony Martins
Despite
my massive failures, the experience i gathered from these failures is
priceless. You’ll never know what works and what doesn’t, if you don’t
fail. You will never know your limitation and capabilities until you
risk failing. Am I a failure? I don’t think so because I haven’t quit
the entrepreneurial process; I am still in the game. I alone can declare
myself a failure and since I haven’t declared it; I am not.
“For every failure, there’s an alternative course of action. You just have to find it. When you come to a road block, take a detour.” – Mary Kay Ash
I
believe these illustrations have opened your eyes to understand the
importance of failure on the road to business success. Your ability to
accept failure as a learning process is a way forward in the process of
building a business.
“How many people are completely successful in every department of life? Not one. The most successful people are the ones who learn from their mistakes and turn their failures into opportunities.” – Zig Ziglar
Lesson Two: Starting and Building a business is a process; there’s nothing like overnight success
“In the game of entrepreneurship, the process is more important than the goal. When you start building a business, you begin a journey, a process. This process has a beginning and an ending and between the beginning and end are a lot of challenges. You will win only if you remain faithful to the process.” - Rich Dad
Have you ever heard of the phrase “overnight success?
I bet you have and the concept may sound good to your ears. Most people
are attracted to business world with tales of overnight success but the
earlier you get your mind off becoming an overnight success, the better
for you.
“A short cut is the longest distance between two points.” – Anonymous
Everyone
wants to be the next Bill Gates, Larry Ellison or Mark Zuckerberg.
Every Nigerian wants to start a business and be the next Aliko Dangote;
who is the currently the richest black man in the world but not everyone
is willing to go through the process these men went through.
“I built a conglomerate and emerged the richest black man in the world in 2008 but it didn’t happen overnight. It took me thirty years to get to where I am today. Youths of today aspire to be like me but they want to achieve it overnight. It’s not going to work. To build a successful business, you must start small and dream big. In the journey of entrepreneurship, tenacity of purpose is supreme.” – Aliko Dangote“The height attained by great men is not by sudden flight. For while their companions lay asleep, these men were toiling in the night.” – Anonymous
All
business begins from the planning phase before proceeding to the
startup phase. When starting a business, you can never bypass the
planning phase to the startup phase. My most respected mentor “Robert Kiyosaki” has this to say with respect to building a successful business overnight.
“Most people say the Rich Dad Company is an overnight success and I admit, we are an overnight success but it took us 10 years to get there.” – Robert Kiyosaki
Becoming
a medical doctor is a process that comes with a lot of study and hard
work; same goes with building a business, it’s a process. I don’t know
how best to stress this point but what I want you to carry along is
this: overnight success will not happen; I have gotten first hand experience of it. Abandon the “get rich quick” or “overnight success” concept and you will save yourself a lot of headaches.
“I
started and built a business from scratch. One thing I love about the
entrepreneurial process is this; no matter my level of fame and success
today, the thought of my early days in life, when I had nothing; will
always keep me humble.” – Ajaero Tony Martins
It
took Aliko Dangote approximately 30 years to become a billionaire and
richest black man in the world. It took John D. Rockefeller 25 years of
oil drilling and distribution to become a billionaire. It approximately
took 10 years for Bill Gates, Larry Page, Sergey Brin, Jerry Yang and
David Filo to become billionaires. But Mark Zuckerberg became the
youngest billionaire in the world in less than five years.
Can everybody successfully go through the entrepreneurial process? My answer is a resounding yes but there’s a catch to it; you must be adequately prepared to undergo the process.
All successful entrepreneurs went through a process to get to their present status. Now I can’t tell how long it will take you to complete your own process and you will never know because you don’t have a crystal ball to foresee the future. All I can tell you is that everybody’s entrepreneurial path is different. It’s up to you to find yours and you will never find it except you start the entrepreneurial process.
“The most important thing is to enjoy yourself and continue to work. Life is a journey, not a destination. That’s also true in business; your objectives keep moving.” – Thomas J. Burrell
Lesson Three: There will never be a perfect time to start a business; all lights will never go green
“Without the element of uncertainty, the bringing off of even, the greatest business triumph would be dull, routine and eminently unsatisfying.” – J. Paul Getty
I
was reading an article on YoungEntrepreneur.com and in that article,
the writer emphasized the need to make proper calculations and make sure
that everything is in its rightful place before launching your
business. A commenter wrote in supporting the writer’s point of view.
The
commenter claimed the reason he hasn’t started a business was because
he’s a perfectionist. He wants to make sure everything is right before
taking a leap into the world of business; he was waiting for the perfect
time. Though I commented on that article and challenged the view, one
truth I never told that commenter was this; he may never start a
business.
“My best advice to entrepreneurs is this; forget about making mistakes, just do it.” – Ajaero Tony Martins
My mentor Robert Kiyosaki once said that there are three components to starting a business. One
is the right plan; two is the right team and three is the money. He
said that rarely do these three components come together when starting a
business. But the most important point he made was this;
“It’s the duty of an entrepreneur to grab one piece and start the business, the remaining two pieces will be found along the way. Finding the remaining two components may take a year or more than 10 years; the point is, start with what you have.” – Robert Kiyosaki“You stick it out. You’ve just got to.” – Steve Case
Once again, I restate my lesson number three: “There will never be a perfect time to start a business; all lights will never go green.”
I
have a lot of friends who are enthusiastic about starting a business;
sometimes, they share their plans with me and I can tell you that their
plan sounds great. But when I ask them why they’ve not started the
business despite the wonderful plan on ground?
The reply I usually get is this: “Don’t
worry Tony; I am waiting for the right time to start. You know I can’t
afford to make the wrong move; I just can’t afford to make mistakes.” Whenever I hear this; all I do is shake the hands of this friend and wish him/her good luck.
“The way to get started is to quit talking and begin doing.” – Walt Disney“You have to act and act now.” – Larry Ellison
But
the sad news is that these friends never get to start their dream
business. Year after year, I still see these friends of mine keeping
their jobs and when I remind them of the wonderful plans they shared
with me in the past; I still hear the same old pitch from them. “I am waiting for the perfect time to start a business.” My question now is; when will this perfect time come?
“Screw it, let’s do it.” – Richard Branson
The
truth is there will never be a perfect time to start a business; there
will never be a perfect business opportunity and there will never be a
perfect investment opportunity. There’s no perfect economic environment
and perfect business plan.
Entrepreneurship is
all about risk taking; calculated risk to be precise. It’s the risk
involved that makes starting a business or building a business exciting,
worthwhile and rewarding. You don’t need to have everything in place
before you start a business; start with what you have and you will pick
the rest up along the way.
“Risk — If one has to jump a stream and knows how wide it is, he will not jump. If he doesn’t know how wide it is, he’ll jump and six times out of ten, he’ll make it.” – Warren Buffet
Amazon
was started in the garage by Jeff Bezos; so also was Ford Motor
Corporation. Facebook, Google, Yahoo and Dell computers were started in
the dorm of various schools. The entrepreneurs behind these companies
had great business ideas but had little capital and no business team.
But did lack of startup capital and a business team stop these men? The
answer is no. If these men hadn’t started with what they have; they
wouldn’t have been approached by partners, investors and Venture
Capitalists.
“Begin to weave and God will provide the thread.” – Anonymous
Now take for instance when I started my first blog, I never knew what a cPanel or plugin was. I never knew WordPress or blogger existed and I was a total novice when it comes to search engine optimization. But I still went ahead to start a business blog because I believe in active learning; I believe in learning while undergoing the process.
(That
blog was hosted on Tripod’s server and it was neither hosted on
WordPress, Blogger, Drupal or Joomla platform. Sincerely speaking, I
never knew these platforms existed back then because I was a total
novice). As expected, my first blog flopped but with the experienced gathered, I started this business blog you are reading now.
Notwithstanding,
this blog had and still has flaws which I am constantly working to
improve and correct. For instance, when I started this blog; I was so
deeply involved with my offline businesses that I was strapped for time.
I had much work on hand and less time to write but I still went ahead
and started the blog.
So based on the nature of
my startup, my initial articles were poorly written and it was only
recently that I re-edited them. If I had waited for the perfect time to
begin working on my blogging idea; I am not sure this blog will be where
it is today. Secondly, i have crashed this blog several times by
messing up the code; just because i wanted to make some changes and
improvement. But i wasn’t discouraged; after all, i was learning from
the process. So take the risk and start something today. Just as my
lesson number three states: “There will never be a perfect time to start a business; all lights will never go green.”
“In today’s rapidly changing world, the people who are not taking risk are the risk takers.” – Robert Kiyosaki
Lesson Four: Preparing for the best is important; expecting the worst is most important
The basis of this lesson four was formed after I read the book “Rich Dad’s Conspiracy of the Rich” As humans, it’s normal to pray and always expect good times. Even in school, we were instructed to always prepare for the best but never was it mentioned that we should expect the worst.“Prepare for bad times and you will only know good times.” – Robert Kiyosaki in his book Conspiracy of the Rich
“Smooth seas do not make skillful sailors.” – Anonymous
As
an entrepreneur, I can confidently tell you that the business world is
filled with bed of roses but you have to go through the thorns to get to
the bed of roses. Business ideas are interesting to behold on paper;
building a business is exciting in the planning phase because of its
future prospects.
“Things never go smoothly.” – Jeff Bezos
But
the reality of starting a business manifests the moment your business
is launched; and this reality is the major reason why most entrepreneurs
give up after the failure of their first business startup. They wish
they never started the process and they vow never to repeat it. At this
stage, I want you to take a glance again at my lesson number four.
“Preparing for the best is important; expecting the worst is most important.”
To successfully start a business and navigate the harsh business terrain, you have to be adequately prepared but most importantly, you must also expect the worst. When I am approached by budding entrepreneurs who are over enthusiastic about their self proclaimed “fool-proof business idea,” I politely remind them about the 50-50 probability of success and failure. No matter your level of success, the odds will still be there.
“Business, more than any other occupation, is a continual calculation, an instinctive exercise in foresight.” – Henry R. Luce
The
ultimate reason I advocate you expect the worst is because when you
expect the worst and prepare towards it, the worst will never happen.
You may go bankrupt or lose your investment capital. To the outside
world, you are finished but deep down in you; you know it’s not the
worst. Why? The reason is because you expected and prepared towards it.
Donald Trump has gone bankrupt twice but he roared back after each
bankruptcy because it wasn’t the worst situation for him.
When I organized my first seminar, I had very great expectations.
I worked closely with my partner to make sure everything was in place.
We advertised heavily and the response from interested attendees was
encouraging but on the D-day, it rained heavily and nobody showed up.
I
was devastated, all our initial investment capital went down the drain
with the rain and we became indebted to some individuals who were
supposed to collect their balance from the profits of the seminar
organized.
But this incident didn’t stop me from
organizing other seminars because I prepared for the best but expected
the worst. Unfortunately, my partner and friend quit the process and
went looking for a job; he wasn’t prepared for the worst and that was
why he quit the entrepreneurial process.
Building
a business is not like having a job, where you can predict your time of
promotion and expected pay. In business, you must thrive on
uncertainty. Employees expect the best, entrepreneurs expect the worst
and when the worst finally come to entrepreneurs, it won’t be the worst.
“Starting a business is like building a ship and embarking on a voyage, armed with a plan, a map and a team. You will have to sail against storms, unpredictable weather and uncertainty. If your ship sinks, it’s either you quit or you swim back to shore, build a new ship and sail again.” – Ajaero Tony Martins
Now how do you prepare for the worst?
I definitely don’t have the answer to that question because I can’t
teach you how to expect and prepare for the worst. But a great way to
start is by having a contingency plan; or better still, an exit strategy
or plan B.
“Always
start at the end before you begin. Professional investors always have
an exit strategy before they invest. Knowing your exit strategy is an
important investment fundamental.” – Rich Dad
Before
I go into any business, I prepare and plan for the best; after which I
prepare for the worst by putting a contingency plan in place. A
contingency plan is always my landing haven should in case I’m
eventually hit by the worst. It’s the sole reason why I still have the
audacity to start new businesses even after a business failure.
Most
hunters go hunting inadequately equipped, praying they don’t come
across a lion. Experienced hunters go hunting with the expectation of
being confronted by a lion. So which hunter do you want to be? The
business world is just like a forest, you can never know what’s ahead of
you so it’s best you are prepared.
“In the business world, the rear view is always clearer than the wind shield.” – Warren Buffett
Lesson Five: Your successes or failures in business are all hinged on one important factor; YOU
“The biggest challenge you have is to challenge your own self doubt and your laziness. It is your self doubt and your laziness that defines and limit who you are.” – Rich Dad“You are the architect of your own fate.” – Anonymous
This
is always my final lesson and advice to those who want to start a
business or those already in the process of building a business from
scratch. It’s not just a lesson; it’s also a fact. Everything to succeed
might be in place but if you are not prepared, if you are not in the
right mindset; you will fail even when presented with a perfect idea and
business team. My lesson one to four will be useless if you lack the
mindset to undergo the entrepreneurial process.
“Getting rich begins with the right mindset, the right words and the right plan.” – Rich Dad
Being
in the right entrepreneurial mindset means being prepared to fail; it
means being prepared to go beyond your comfort zone and finally, it
means being prepared to give your business everything it requires to
make it a success. Being in the right mindset means being prepared to
hold on to your dreams even in the face of criticism.
“The size of your success is measured by the strength of your desire, the size of your dream and how you handle disappointment along the way.” – Rich Dad
After
analyzing my past experience, I can confidently tell you that starting a
business or building a business from scratch takes pain and sacrifice. A
time will come when you will need to give up certain things just to get
your business off the ground.
A time will come
when you will need to put in at least 60-80hours per week to see your
business get through the small business startup phase. A time will also
come when you will experience sleepless nights, emotional stress and
critical business challenges. As a result of all this, you will be
disappointed because things are not going the way you expected and
eventually; you will have a strong urge to quit.
“You must not only learn to live with tension, you must seek it out. You must learn to thrive on stress.” – J. Paul Getty“You can always quit so why quit now.” – Rich Dad
Now
how do I know all this? I know because I have had the same experience.
When I started out as an entrepreneur, I gave up most of my old friends
and gained a new set of friends; new friends who play the same game I
play.
I gave up my lifestyle and I had to
automatically become humble because I knew nothing with respect to
running a business; and I stood to lose all. I denied myself some
pleasures of life including sleep, just to make sure my first business
gets off the ground. The experience wasn’t pleasant as I expected but it
was worth it.
“I enjoy myself a lot but I derive more joy in working. I believe in hard work and one of my business success secrets is hard work. It’s hard to see a youth that will go to bed by 2am and wake up by 5am. I don’t rest until I achieve something.” – Aliko Dangote
Building
a business from scratch needs everything you’ve got. You must be
prepared to sacrifice some things to breakthrough in business. Bill
Gates, Paul Allen, Richard Branson, Michael Dell and Mark Zuckerberg
sacrificed their education to build the business of their dreams; others
gave up their job security. I am not asking you to do any of these; all
I want you to understand is that it’s up to you to do it.
Entrepreneurship is a personal undertaking, only you can decide whether
or not to go through the process.
“And obviously from our own personal point of view, the principal challenge is a personal challenge.” – Richard Branson
In
conclusion, these are the five main lessons I have picked up over the
years in the process of building a successful business from scratch. I
know more lessons are still forthcoming and I am prepared to learn. I
know more business failures await me in the future but I am not afraid
to fail. Rather, I am afraid to quit the process having come this far.
As a final note, the ultimate key to building a successful business from scratch is you; so my last advice to you is this: Be yourself, stick to your philosophy, believe in your dream, pursue that dream with undying determination and I will see you at the top.
“You are nuts and you should be proud of it. Stick with what you believe in.” – Trip Hawkins“Remain true to yourself and your philosophy.” – Giorgio Armani“Press on. Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.” – Ray Kroc
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