A small business can fail for a variety of reasons, but money related issues are one of the main concerns. Even with a high-quality service or product, you will find it difficult to achieve success without a healthy cash flow to cover business expenses. Here are a few tips to help manage the finances: Clear…
The business plan is a fundamental part of starting a new business, and the singular most important document when you are looking for investors. You will significantly improve the chances of your new business succeeding eventually if can take the time and effort to articulate your objectives and strategies in the form of a business…
The Corporate Affairs Commission has taken company registration to the next level. The new online registration system has greatly improved efficiency such that a week is more than enough to register a business name or limited company. Here is how you can now incorporate your company by yourself using the CAC online service: 1: Do…
According to statistics published in 2017 by the Small Business Administration (SBA), about one-fifth of business startups fail in the first year and about half of all employer establishments fail within five years. Only about one third survive ten years or more. Those statistics are rather grim. And while there are a multitude of conditions…
Do your own an offline business in Nigeria? But you don’t have any online presence. It means that you are losing business to your competitors. There are about 92 million active internet users in Nigeria according to the most recent data by Nigerian Communications Commission (NCC). These users actively browse & use the web even for their small daily needs.…
#1. Set Financial Goals As an entrepreneur it is very important for you to develop clear financial goals – short-term, medium-term and long-term. Consider what financial milestones you want to hit in six months, a year, 5 years and 10 years from now, and write them all down. Setting financial goals helps to guide and…
Many modern-day moms face a pressing need to stay home and take full responsibility of those adorable little ones without having to worry about the dangers they are exposed to and also give them all the love they deserve. Yet they would not mind doing some business from home, to augment the family income Here…
Self-doubt, uncertainty and fear are all emotions that can impact a person’s ability to start-up a new business. Many entrepreneurs feel the pressure of investors, partners and employees relying on them. In order to overcome the mental roadblocks that can slow progress, there needs to be a wholehearted commitment in every area of building a…
Could a stranger enter your office and operate your business? They could if you have a business model that defines each step of your business process. Create one by using a simple business template that provides actual business processes. Start with an outline of what you do each season of business. Sell Product or Services…
A great small business always starts out as an idea, but you have to transform that idea into action. That’s where many individuals can start to feel overwhelmed. It’s understandable to freeze up at the deluge of things that are required to get a business started, but getting going is actually easier than you might think.…