9 SURE STEPS TO SET UP YOUR OWN BUSINESS IN 2016

Nigeria’s population is estimated to be around 180 million and it is established that 60% of the population are youths; incidentally, 70% of the youth population are unemployed, underemployed or unemployable. If these figure is anything to go by and the trend continues unabated, am afraid the future of Nigeria economy will still be bleak in a long time to come.

A small Business venture is the perfect alternative to generating residual income for both the government and the entire working population at large. The FEDERAL GOVT OF NIGERIA having realized these small business potentials has created some machinery for driving the economy by creating avenues for accessing SMEs funds. Such initiative could be found in F.G Youwin! Grants; SME development fund; SureP;SMEDAN Fund; Bank of Industry; FIRRO Oshodi; Bank Of Industry Agro cottage funds; Tony Elumelu foundation; Dangote Foundation/Trust Fund; Theophilus Danjuma Foundation/Trust Fund;etc.

If you have been thinking of starting your own business but with a little information on how to make the first step, then, you have to answer the following questions.

ü Would you like to be self sufficient and make steady income in the year 2016?

ü Do you want to be financially independent earning from your passion?

ü Do you desire a flexible work schedule where you determine when you start and when you stop?

ü Do you wish to help someone out of poverty?

ü Do you want to be less dependent on others for sustenance?

ü Do you want to have your own BRAND NAME in the marketplace?

ü Do you wish to contribute to Nigeria’s GDP?

ü Do you want to be a millionaire using legal business means?

ü Do you want to make extra income while still holding your paid job?

ü Do you want to learn how to make money from the NEW ECONOMIC AGENDA come 2016?

ü Do you wish to quit your paid 5am-9pm job/employment for your own company?

ü Do you need a perfect gift for yourself, family, friends, colleagues, neighbours and well wishers?

Follow these simple, tested and proven guidelines and you will be glad to have this information FREE OF CHARGE.

1. DECIDE WHAT TYPE OF BUSINESS YOU WANT TO PUT UP. You may ask from some of your successful friends what type of business to start with. Well, they might suggest some, but the right answer is in you. Deciding what type of business you would put up means reflecting deeply the things you want to do and things you are good at. Look ahead and ask yourself these questions: Am I willing to do this business everyday for years? What do I love to do? What are the things that are both profitable, at the same time, things that I find enjoyable? These questions will lead you to specific type of business you want to put up. Take your time. See help here….http://hollalaycan.blogspot.com.ng/2015/10/top-129-small-businesses-you-can-start.html

2. DO RESEARCH. Once you have determined a particular type of business you want to put up, study its profitability. You simply don’t put up a business you love, don’t you? You still have to think if the business will click. Feasibility study would do the job. In other words, study if the business you are trying to put up will return to you the investment you have given. In here, you have to decide where to put up your business. Remember that a certain type of business would hit big time in one place but not in the other places, so make sure that the place you chose will give you good sales once you have opened. 
See also…http://hollalaycan.blogspot.com.ng/2015/09/surest-way-to-build-successful-business.html

3. DECIDE ON THE BUSINESS NAME. Create a name that is EASY to pronounce and remember; the name that will put every element of your business in a nutshell. A name may or may not be short as long as it distinguishable. 

See related articles…http://hollalaycan.blogspot.com.ng/2014/07/how-to-register-your.html

4. DECIDE ON THE FORM OF BUSINESS. Form of business means that you will have to choose between, incorporation, partnership, and sole proprietorship. Know the difference between the 3 and what are their advantages and disadvantages to you.

5. BUSINESS REGISTRATION. Most businesses must be registered and there are processes to follow. You need to conduct availability check for the business name and

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9 SECRET TRAITS OF AN EFFECTIVE ENTREPRENEUR

An entrepreneur’s responsibility would be to satisfy his clients in order to fulfill the objective of being business which is profit and freedom. It is not out of place to say that he should see his customers as his patients and what they must have to survive a present predicament or a need. He must follow certain steps before doing anything irrational that could contribute to the downfall of his business. He should have certain characteristics innate in his personality for if he lacks one of these, he’s most probably doomed to fail.

Entrepreneurship is collectively defined as exhibiting one’s vision, taking action, and pursuing that vision as a goal to be achieved in life as service to reality. In the meaningless definition, it’s getting yourself out of that couch and doing something rather than fulfilling your life’s destiny of being a couch potato. Highlighted below are some of the distinct attitudes an entrepreneur should positively have:

1.     FEARLESS- An entrepreneur must be courageous in order to face the stark realities of life as relates to business. The fear of unknown has killed many beautiful dreams conceived by prospective entrepreneurs. In order to bring the idea to fruition, aspiring entrepreneur needs to overcome the ‘I can’t do it attitude’.

2.     OPTIMISM – is foreseeing things in a positive way notwithstanding any circumstances that may hinder progress. The assertiveness of an individual depends on his knowledge of how to handle a difficult situation.

3.     CONCEPTUAL SKILL- This involves the formulation of ideas, an entrepreneur should possess the skills necessary to identify opportunities, create needs and design a way to actualize such idea.

4.     CREATIVITY – It is thinking outside the box, expanding one’s mind of what is beyond the ordinary through fine research and collection of data.

5.     STABILITY – Either physical, mental, social or emotional, a leader must possess a stable life which means he could handle tough situations during tough times.

6.     ENIGMATIC – intelligence of communicating with different walks of life. Who says a charming man is less than an intelligent one? A good entrepreneur must have

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