Profit in any business comes from your business turnover multiplied by your margins. In simple term, Profits = Turnover x Margins Turnover, in turns, is determined by the number of customers you have, multiplied by the number of transactions each customer had with you and the average dollar sale. Thus, Turnover = Number of Customers…
A small medium enterprise business offers you the benefit of running an organization without an office or leased space. While this approach decreases overhead, it requires more push to advertise. The following tips will enable you to get the word out about your business. Create a Website Most organizations have a web nearness that gives…
Business owners mostly ask the question about the importance of a photographer at an event. Certainly, when the event is accessible to staff only, many companies do not see the importance of good events photography. Whether you are organizing a large event in Lagos that attracts a lot of audiences or holding a team-building day…
How do you get a person to buy a product or service? Psychology holds answers to questions that have preoccupied marketing departments for decades, particularly surrounding how to influence people and how people respond to attempts to influence their behaviors. “Persuasion is no longer just an art, it’s an out-and-out science,” said Robert Cialdini, professor…
A brand is the unique identity that a company creates for its business. This brand identity plays a vital role in earning the trustworthiness among the clients to purchase the company’s product or service. Branding is an efficient and easy way to approach the client’s in a market place. It connects to your target audience…
There is a saying that says ” keep your friends close but your enemies closer.” When it comes to business, an entrepreneur should consider following those guidelines. Founders rely on investors to assist financially when starting or growing a business. These finances are derived from three types of investors: family and friends, angel investors, and…
To start with an investor is any person who commits capital with the expectation of financial returns. So for those with a solid business plan, you may want to look for potential investors. While this is a difficult step, you may want to get prepared. It’s often suggested that you should talk to hundreds of…
To succeed with growing a small business, it is essential to have great organizational and planning skills, as well as having a flexible approach to work. Before starting a new business venture, it is important to put in the time for initial planning before opening the doors. Here are a few things to consider for…
An entrepreneur is a person who sets up a business or a chain of business, in hope for profit from it..As an entrepreneur you need to take risks, try out new methods and you need other qualities as well. But, there is always a cheat sheet for a lot of things in the market. If…
You have started your business with a product or service you think people are going to love. But, then there is a thought in your mind- “How am i going to compete with the big fish of the industry? How would my business make a brand identity for itself?” To be sincere it’s going to…