Nigerian Business And Entrepreneurship Ideas Center

Welcome to Naija Business And Entrepreneurship Ideas Headquarters! We have what you need to start a business of your own to make your life more abundant and fulfilling. We have business ideas covering several fields from education through agriculture to manufacturing with a specialty in Small and Medium Enterprises (SME) . Here, you won’t find anything about oil rigs because it is not our specialization. But if you have a few hundreds of thousands of Naira or a couple of millions to invest we will be useful. There are even zero capital ideas.

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No Man Is Truly Free, Who Works For Another Man

No Man Is Truly Free, Who Works For Another Man

Profitable Businesses Everywhere, Start One And Be Free

out

Hi,

I am Otunba Jide Omiyale, head of Jidol Consul ,the publisher of this site. Let us talk business because that is the only language we understand.

Why are we qualified to do that?

Well, I hold three degrees including an MBA and fellow of Chartered Institute of marketing having qualified as a chartered marketer from Berkshire, England since 1982. Have worked in top-of-the-shelf international and have been in management for more than 30 years.

Currently, I run a school, a farm in addition to running seminars on employment and consulting. Regularly I give lectures to Graduates on how to stand on their own.

I have decided to

How To Make Tons Of Money Auditing Banks Without Being An Accountant Or A Tax Consultant

You cannot believe how banks are ripping off people, especially the rich Illiterates. They overcharge them on COT, OD, VAT, interests, and so on.

How To Start A Bank With 500k

How To Start A Bank With 500k

 

Wait a minute. Before you accuse me of deception or even fraudulent claim, you will just have to listen to me and the only way to listen to me is to read till the end of this article. If at the end, you think I am not talking sense, then I accept all the insults you may hurl at me.

Swissgolden Is A Scam And It Is Proven Here.

Swissgolden

Swissgolden

Swissgolden is a scam as you will see presently.

Why would one need to introduce people to buy gold?

I mean, If I wanted to buy a Rolex wrist watch or a Mercedes Benz car, I do not need to prospect for people to introduce and pay some money. I only take my card, pay and expect delivery.

But Swissgolden

Businesses That Can Never Fail Even If You Try To IV

       T   FOR TRANSPORTATION


The T as you might have guessed is transportation.

As long as the trains are not there and the governments maintain their lackadaisical attitude to this sector, transportation business will be lucrative.

Businesses- transportation business

Businesses- transportation business

People have to commute, goods have to be moved. Cows have to come from the north to the south, palm oil have to get to the north.

The advantage this has over others is that you start making sales the very day you open shop.

The level of entry depends on the fund at your disposal.

Remember that Okada riding is a form of transportation. The big trailers moving cows from the North to the South are involved in Transportation.

Those using car boats to move people in Ilaje in Ondo state and the riverside areas are also doing transportation.

I know your brain would have sorted others out. Taxing, raw food movement with light trucks, fuel movement with tankers, airport taxi and even the concord that moves people at supersonic speed are all part of the T.

Now, I understand that we are talking about that part of it with large margin of error and I will show some to you.

RAW FOOD MOVEMENT.

Businesses-raw food haulage

Businesses-raw food haulage

This is cash-well but you may not know because the operators look filthy. I confess, it may not look dignifying but it vomits money.

Get a light truck, register with them at the big markets like Mile 12 in Lagos, Bodija in Ibadan. With a load, you can gross about N6000 from the women. Now do that 4 times a day, if that is not money, I do not know what is.

Ok, try and get a cow moved from the cow market to your house and see how much you will be charged. It is then you will know that it is more expensive to move animals than men.

BIKE COURIER.

This is more dignifying. When parcels move between companies in the cities what do you think they are doing? I call it transportation but they call it courier.

Get 2 neat bikes and riders. Let them look executive and register with corporate bodies to deliver messages for them and make your cut. Easy.

Look, the business world is outsourcing and they will be happy to pay you handsomely to take a parcel to Ikeja from Apapa without sending their driver which will of course cost them more.

With phones this biz becomes dead easy to do.

OKADA.

Guys may want to crucify me for this but I will be remiss in my duty if I do not include this.

Boys are making tons of money from Okada.

A young man told me in Ikorodu that he was making at least N5000 a day, Now he has his own bus which he uses to move people between Lagos Island and Ikorodu and a three bedroom flat in Ikoroku which he built from Okada.

In 10 years time he would have retired from working. And the guy is about 30 and single. Talk of seriousness and resourcefulness.

There in nothing wrong in a 23 year old graduate riding Okada to get money for a more dignifying biz later in life.

There is no excuse to stay at home, wasting 10 years of your productive life because the jobs are not there.

Create jobs for yourself. Masters holders in Europe do less honourable work.

HEARSE.

You laugh. It gives good money and do not let them scare you about the dead doing this and that. When you are dead, you are dead.

Businesses-HEARSE.

Businesses-HEARSE.

Have a good quest car or similar one. Register with mortuaries and morgues. When the livings want to carry their dead they will call you.

When they are mourning you are counting money. It is then you will know that the dead pay more to travel.

The field is big. Go there and take a slice.

And so with that we have concluded Feet. I pray you find your feet in the world.

If an idea does not sound crazy at first, it is not worth pursuing. That was Euston, the American top of the list inventor speaking. There are some ideas in http://naijabizideas.com. You would think are crazy. Yes they may look so but they spin money. Go visi


CONCLUSION.

In this free report, I have tried to open your eyes to some business opportunities open to you and they have wide margin of errors. They are such that, even if you make genuine mistakes, you will still make money.

I have no doubt that you found the report refreshing and illuminating as many who have had the opportunity of reading it. Now do something with it.

From experience, I have found out that many youths walk with their eyes closed. Not that they physically lock the eyes up but they do not see things unless you explain it to them.

Their minds are fixated on salaried jobs. No law says you must use your degree to do salaried jobs. I will give examples.

First.

A guy picked me on a bike one day and we got talking. As usual, he was looking for work and I asked what do we call the one he was doing.

He didn’t answer. I told him he would not be making less than #2000 a day as he owned the bike. He laughed and confessed he was not making less than #3000 a day.

I said, multiply that by 30 days in a month, you get #90,000. Now, I asked him, how  much do you get as a level 8 officer, a mere #28,000 per month  and then you transport yourself and eat.

I told him to continue and use his youth to accumulate money to build a house and establish himself in a less tedious business later.

I told him at 35 he would have done the major things a man needs to do in life. He did not collect his fare from me.

Another.

A  graduate son of a  textile trader told me he was looking for work. I asked him which work to which he replied he was looking for work at the secretariat.

Ok I said, to earn level 8 and he said yes. I told him he was not serious and that if I were him I would just take some stock from my mother and open my own shop instead of looking for #28,000 per month  job that will consume #10,000 for transportation.

He took my advice and is no more looking or work. Instead he has hired a hand.

In my book ,Profitable Small And Medium Businesses In Emerging Economy, I open the peoples  eyes to limitless opportunities in this hugely blessed country. The book is rich, really rich and should be in all houses and libraries. .

In the book, you will read how a young man built a #6m house from a business many people look down upon.

The taste of the pudding is in the eating. Yorubas say morning shows how the evening will be.

If my free report is so meaty, fleshy and rich, you can imagine how the real thing will be. If in 14 pages I have revealed so much, you can imagine what will be exposed in the book of 150 pdf pages .

I do not know how to write sales letters but I know how to tell the truth. The truth is that the book is swell. Go get yours. Honestly you need a copy.

Best of luck.

Image result for back and next buttons

Otunba Jide Omiyale (MBA,FCIM)

Otunba Jide Omiyale(MBA,FCIM)

Businesses That Can Never Fail Even If You Try To III

            E   IS  ENTERTAINMENT

 Ok. The other E is entertainment.

Look around you, entertainers are spoon-fed with money.

Businesses- entertainment

Businesses- entertainment

This is simple to understand. People pay more for talent than anything else. This is the reason why you will need N10m to hire Sunny Ade for a night and the same reason why Agwu, Basket Mouth and their fellow stand up comedians charge in millions for a three hour show.

The same reason why

Businesses That Can Never Fail Even If You Try To II

CANTEEN.

What is wrong with a young man running a canteen? Nothing, absolutely nothing.

Men are known to be great cooks. The first winners of food competition in this country are men.

Canteen business vomits money like faulty (kalokalo) gaming machine. But our people will not venture into it except some Igbo guys. One big advantage here is that you will feed free indirectly.

Bsinesses--Canteen

Bsinesses--Canteen

The only thing is

Businesses That Can Never Fail Even If You Try To Fail I

INTRODUCTION

Nice to have you taking advantage of this write up and I assure you, you  will be glad you did. That is, by the time you have gone through it. It is full of disclosures you will surely find useful.

The title of this free report is what is referred to as writers licence. Any business can fail if not managed properly. If you fetch water  without the necessary control, you can run bankrupt.

However, I have researched some businesses one can do with a lot of margin which allows a reasonable percentage of error. Some of them you do not even need a lot of capital to start.

I call them FEET.  You cannot embark on them and regret.

Kemi Olunloyo’s Masquerade Flogged Everybody At Sight, That Is Why Nobody Is Helping Her.

Image result for nigerian masquerade

masquerade

Kemi Olunloyo's masquerade is out.In Yoruba culture, we believe that masquerades come from heaven and that they are not human beings.

That is why they cover their faces, so that even if the person inside the masquerade regalia is your father, you pretend you do not know him. As far as you know, the masquerade is ara orun {entity from heaven}

Now, masquerades have power, we believe, and they can use their whip to flog and whip anybody within reach.

But with all these powers, the masquerade knows there are some people he dare not touch with his whip.

He dares not whip a senior masquerade who is for the moment a human being because he is not in their regalia, he does not harass the moriwos (people in their masquerade fraternity, and won’t whip a babalawo and of course he has to bend down in abeyance to  the Alaagba  who is the head of the moriwos.

Please forgive me this preamble, because without it, non-Yorubas will lose the thrust of this essay

Image result for kemi Olunloyo

kemi Olunloyo

Let us continue.

Read The Book That Made Many Rich.

Usually, the masquerade is accompanied by drummers who guide him. The leading drummer tells him who to whip and who not.

Sometimes the masquerade is intoxicated with the temporal power and wants to whip an untouchable person and sometimes this may be out of ignorance, perhaps he does not know the entity.

The leading drummer warns him and halts him. The drum goes, die, die mase, maje,ki seran jije.(softly, softly don’t do it, that meat is forbidden).

The masquerade stops, turns back and continues his dancing but should he go ahead and flog such a person that could very well put an end to his outing.

During  Kemi Olunloyo’s outing, her masquerade flogged everybody at sight, moriwo, babalawo, senior masquerades, oluwo and even the Alagbaa.

That is why there is no masquerade to help her in predicament. Kemi lambasted top clergymen, thrashed ace comedians, libeled top theater practitioners, locked up her Father, as she used her brush  to tar almost anybody at sight.

This is the reason nobody is lifting a finger to help her. The little that is coming inform of support is to beg the offended man of God.

Kemi Olunloyo, 52 years, licensed pharmacist, qualified Journalist, ace face-book user and top twitter commentator has spent more than 14 days in custody and almost nobody is saying anything.

Seems the attitude of most is to let her cook in her own stew. One is tempted to ask, where is NUJ, where are the other bloggers, where are the plethora of human rights NGO.

Where are the Nigerian women to fight for one of their own? They all kept mute because Kemi, when in masquerade regalia, whipped them all.

I knew it would end like this. When you break all the commandments in the holly book, you are bound to end in perdition.

A child who is bold enough to rough handle her father and lock him up should not expect a life devoid of problems. Those who desecrate the shrine cannot expect the benevolence of the Gods.

When you offend all your friends, you will dance alone in your party which is what we are seeing here.

I can never imagine the very vocal and vibrant Nigerian press keeping silent when a person who is not yet convicted by a competent court is being paraded in prison uniform. This is sending somebody to Coventry at the highest level.

But what do you expect? The journalists who should help are either attending Redeem church of Christ or Winners Chapel whose leaders Kemi’s masquerade had flogged. They and their friend s will dare not help her. I will not be surprised if many are praying the Former Governor’s daughter rots there.

Agreed, some Christian leaders do not deserve the respect we accord them, but even atheists and non believers will give Baba Adeboye full respect.

Image result for kemi Olunloyo

kemi Olunloyo

A very humble man of God, not used to frivolity the nearest I have seen to Jesus in meekness and humility, not for him 250,000Naira dress. He is at home  with his simple Ankara and even his teachings are so simple and humble devoid of the shouts and screamings.

This Book Will Change Your Life

Now for anybody to talk evil of this man and attack him in the press is to ask for the wrath of God and humans.

This is the lesson is all this. No freedom is completely free. When the leading drum is getting too loud, it is about to burst. The deeds of past years can come to hurt you.

When Kemis masquerade was flogging these respected and respectable men of God, She was enjoying the publicity but she forgot the Yoruba adage. Omode bu Iroko, on boju wehin, ojo ti a bu oluwere  ko loluwere  npani.  (The child abuses the Iroko tree and looks back, Iroko won’t fight back that same day)

Kemi’s  masquerade went out without the drummers, perhaps they would have warned her, die, die, mase, maje, ki seran jije. {softly, softly, don’t do it, that meat is forbidden).

Comeuppance has come for Kemi, the Irokos are fighting back, but all the same, we appeal to all who have a hand in her trauma to temper justice with mercy. Ko ni se be e mo.

Otunba Jide Omiyale (MBA,FCIM)

Otunba Jide Omiyale (MBA,FCIM)

Why Your Business Name Can Kill Your Business Before It Starts

 business name

business name

Business Name is as important as the business. Your business is what you call it.

I have decided to attend to this separately because, daily I see people making the mistake of giving their businesses

Why The Grazing Bill Must Be Killed, It Is Subterfuge.

grazing bill

grazing bill

Grazing Bill Must Die. The Fulanis were not originally Nigerians. They came in through the North and displace the Hausas. Their main preoccupation is to displace their hosts and install themselves. This is why the grazing bill should die.

Leadership Change At MTN, The Implications

 mtn

mtn

MTN Today. From today, 13th march 2017,  Rob Shuter takes over as the  new group CEO and president of MTN, while Godfrey Motsa commences   as Souh Africa  CEO. This comes as the embattled telecommunication giants puts a troubling past 18 months into history

Mr. Shuter joins MTN after fulfilling his responsibilities as CEO of the European cluster at the Vodafone group and brings extensive experience in the telecoms sector in Africa and Europe, as well as in financial services.

He was previously CEO of Vodafone Netherlands, CFO of the Vodacom group and held senior management roles at Standard Bank and Nedbank.

Today signals a number of senior management changes at the pan-African telco.

As Shuter comes in, current executive chairman Phuthuma Nhleko reverts back to his role of non-executive chairman. He says he will stay in this role until no later than December 2018, when he plans to step down.

Nhleko took over as executive chair in an interim capacity in early November 2015 after former group CEO Sifiso Dabengwa resigned from the post.Image result for mtn

His resignation came just two weeks after the company announced it faced a $5.2 billion (R71 billion at the time) fine from the Nigerian Communications Commission for failing to disconnect 5.1 million unregistered SIM cards in the country.

In June 2016, after months of negotiations, MTN agreed to pay $1.671 billion (R25 billion at the time) to the federal government of Nigeria, in six installments over three years, to settle the fine.

  

However, the damage caused by the fine will likely linger for some time and has already had a heavy impact on the group's financial results for the 2015 and 2016 financial years.

Earlier this month, Nhleko called 2016 the "most challenging year in the company's 22-year history" as the group reported a full-year headline loss per share of 77c, for the year ended 31 December, compared to headline earnings per share of 746c a year ago.

This despite growing group subscribers by over 3% to 240.4 million across its 22 operations in Africa and the Middle East.

Familiar faces

MTN South Africa also has a new CEO starting today, as Godfrey Motsa takes over from Mteto Nyati, who is moving on to take up the role of Altron CEO. Motsa is moving from his role as VP of MTN's South and East Africa (SEA) region.

This book will change your life

He was previously chief officer of the consumer business unit at Vodacom and in the past also occupied the positions of CEO of Vodacom Lesotho and Vodacom DRC.

Motsa and Shuter were colleagues at Vodacom and Shuter says he is delighted Motsa is taking up the top role in SA because they have "worked well together in the past".

MTN's new group CFO Ralph Mupita will start early next month, leaving his post as chief executive of Old Mutual Emerging Markets.

MTN says he brings 16 years of financial services experience as well as expertise in engineering. The role became available when former CFO Brett Goschen left the telecoms operator at the end of September 2016 "to pursue other interests".

Gunter Engling, currently acting CFO, will assume the position of deputy CFO with effect from 3 April, reporting to Mupita.

Other recent appointments include Jens Image result for mtnSchulte-Bockum, who joined the group on 16 January as group COO, replacing the retiring Jyoti Desai. Schulte-Bockum is another Vodafone hire, with his last senior role being CEO of Vodafone Germany between 2012 and 2015.

MTN SA CEO Godfrey Motsa.

With the post of VP of the SEA now open, current VP of the West and Central Africa region, Karl Toriola, will take on the additional responsibility of the SEA region in the interim as the group searches for Motsa's replacement.

Eight other senior executives were appointed during 2016, including Babak Fouladi as CTIO, joining MTN from Vodafone Spain.

Growth targets

MTN's management changes come alongside its latest transformation initiative, Ignite, which aims to improve the group's revenue growth and accelerate the diversification of revenue streams – including more digital services.

Ignite has already been launched for MTN SA and MTN Nigeria, with plans to roll it out to all operations over time.

"With a strengthened management team in place and new initiatives embarked upon, we are confident and are resolved to enhance our competitive position across our markets and meet the aggressive targets set," the group said in a statement as part of its latest financial results.

The telco said the new senior executives have the requisite skills to take MTN "into a new growth phase".

After the Nigerian debacle, the group reinstated its regional vice-president positions "to ensure an extra layer of regional, operational and governance oversight".

"At an opco level, we reviewed structures, introducing the position of chief operating officer in our large opcos to ensure increased operational oversight and coordination between commercial and technical teams is enhanced, allowing country CEOs to focus on stakeholder matters," it said.

Read The Book That Made Many Rich.

Jide Omiyale

How To write A Business Plan The Bankers And Investors Can’t Resist

How to write a business plan the bankers and investors can't resist comes up daily in business discussions and business classes. Many budding business people do not know how to write one. many again confuse it with feasibility studies.

Success in business comes as a result of planning. You have to have a detailed, written plan that shows what the ultimate goal is, the reason for the goal, and each milestone that must be passed in order to reach your goal.

A business plan is a written definition of, and operational plan for achieving your goal. You need a complete but success tool in order to define your basic product, income objectives and specific operating procedures.

YOU HAVE TO HAVE A BUSINESS PLAN to attract investors, obtain financing and hold onto the confidence of your creditors, particularly in times of cash flow shortages... in this instance, the amount of money you have on hand compared with the expenses that must be met.

Aside from an overall directional policy for the production, sales effort and profit goals of your product--your basic "travel guide" to business success...the most important purpose your business plan will serve will be the basis or foundation of any financial proposals you submit.

Many entrepreneurs are under the mistaken impression that a business plan is the same as a  financial proposal, or that a financial proposal constitutes a business plan. This is just a misunderstanding of the uses of these two separate and different business success aids.

The business plan is a long-range "map" to guide your business to the goal you have set for it. The plan details the what, why, where, how and when, of your business.

Your financial proposal is a request for money based upon your business plan...your business history and objectives.

Understand the differences. They are closely related, but they are not interchangeable.

Writing and putting together a "winning" business plan takes study, research and time, so don't try to do it all in just one or two days.

The easiest way to start is with a loose-leaf notebook and writing materials. Once you get your mind "in gear" and begin thinking about your business plan, "10,000 thoughts and ideas per minute" will begin racing through your mind...

So, it's a good idea when you aren't actually working on your business plan, to carry a pocket notebook and jot down those business ideas as they come to you...ideas for sales promotion, recruiting distributors, and any other thoughts on how to operate and/or build your business.

Later, when you are actually working on your business plan, you can take out this "idea notebook" evaluate your ideas, rework them, refine them, and integrate them into the overall "big picture" of your business plan.

The best business plans for even the smallest businesses run 25 to 30 pages or more, (it could be lesser) so you will need to "title" each page and arrange the different aspects of your business plan into "chapters." The following format should help.

Title Page

Statement of Purpose

Table of Contents

Business Description Market Analysis Competition

Business Location

Management

Current Financial Records

Explanation of Plans For Growth

Projected Profit & Loss/Operating Figures Explanation of Financing for Growth Documentation

Summary of Business & Outlook for The Future

Listing of Business & personal References

This is a logical organization of the information every business plan should cover. I will explain each of these chapters titles in greater detail, but first, let me elaborate on the reasons for proper organization of your business plan.

Having a set of "questions to answer" about your business forces you to take an objective and critical look at your ideas.

Putting it all down on paper allows you to change, erase and refine everything to function in the manner of a smoothly oiled machine.

You will be able to spot weakness and strengthen them before they develop into major problems. Overall, you will be developing an operating manual for your business...a valuable tool which will keep your business on track, and guide you in the profitable management of your business.

Because it is your idea, and your business, it is very important that YOU do the planning. This is YOUR business plan, so YOU develop it, and put it all down on paper just the way YOU want it to read. Seek out the advice of other people; talk with, listen to, and observe, other people running similar businesses; enlist the advice of your accountant and lawyer...but at the bottom line, do not ever forget it has to be YOUR BUSINESS PLAN!

Remember too, that statistics show the greatest causes of business failure to be poor management and lack of planning...without a plan by which to operate, no one can manage; and without a direction in which to aim its efforts, no business can attain any real success.

On the very first page, which is the title page, put down the

name of your business-PETRAGOLD NIGERIA LIMITED--with your business

address underneath. Now, skip a couple of lines, and write it all in

capital letters: PRINCIPAL OWNER--followed by your name if you are the principal owner.

Examples: PETRAGOLD NIGERIA LIMITED

1,PETRAGOLD STREET, LAGOS ISLAND, LAGOS, NIGERIA.

PRINCIPAL OWNER: Your Name

That is all you will have on this page except the page number -1- Following your title page is the page for your statement purpose. This

should be a simple statement of your primary business function, such as: We are a service business engaged in the business of publishing and selling business success magazine.

The title of the page should be in all capital letters across the top of the page, centered on your final draft--skip a few lines and write the statement of purpose. This should be direct, clear and short--not usually more than two or three sentences in length.

Then you should skip a few lines, and from the left hand margin of the paper, write out a sub-heading in all capital letters, such as

EXPLANATION OF PURPOSE.

From, and within this sub-heading you can briefly explain your statement of purpose, such as: Our surveys have found most entrepreneurs to be "sadly" lacking in basic information that will enable them to achieve success.

This market is estimated at more than a 20 million persons, with at least half of these people actively "searching" for sources that provide the kind of information they want, and need.

With our business, advertising and publishing experience, it is our goal to capture at least half of this market of information seekers, with our publication MILLIONAIRE MAGAZINE! Our market research indicates we can achieve this goal and realize a profit of #2,000,000 per year

within the next 5 years...

The above example is generally the way you should write your

"explanation of purpose," and in subtle definition, why you need an explanation. Point to remember: Keep it short. Very few business purpose

explanations justify more than a half page long.

Next comes your table of contents page. Do not really worry about this until you have the entire plan completed and ready for final typing. It is a good idea though, to list the subject (chapter titles) as I have, and then check off each one as you complete that part of your plan.

 

Image result for how to write a business plan

By having a list of the points you want to cover, you will also be able to skip around and work on each phase of your business plan as an idea or the interest in organizing that particular phase, stimulates you.

In other words, you will not have to make your thinking or your planning conform to the chronological order of the "chapters" of your business plan-- another reason for the loose-leaf notebook.

In describing your business, it is best to begin where your statement purpose leaves off.

Describe your product, the production process, who has responsibility for what, and most importantly, what makes your product or service unique—what gives it an edge in your market. You can briefly summarize your business beginnings, present position and potential for future success, as well.

Next, describe the buyers you are trying to reach. why they need and want or will buy your product. and the results of any tests or surveys you may have conducted.

Once you have defined your market; go on to explain how you intend to reach that market, how you will entice these prospects to your product or service and induce them to buy.

You might want to break this chapter down into sections such as. publicity and promotions, advertising plans, direct sales force, and dealer/distributor programs. Each section would then be an outline of your plans and policies.

Moving into the next chapter on competition, identify who your competitors are. their weakness and strong points, explain how you intend to capitalize on those weaknesses and match or better the strong points. Talk to as many of your "indirect" competitors as possible, those operating in different cities and states.

One of the easiest ways of gathering a lot of useful information about your competitors is by developing a series of survey questions and sending these questionnaires out to each of them.

This book will change your life

Later on, you might want to compile the answers to these questionnaires into some form of directory or report on this type of business.

It is also advisable to contact the trade associations and publications serving your proposed type of business.

how to write a business plan

how to write a business plan

The chapter on management should be an elaboration on the people operating the business. Those people that actually run the business, their job, titles, duties, responsibilities and background resumes.

It is important that you "paint" a strong picture of your top management people because the people coming to work for you or investing in your business, will be "investing in these people" as much as your product ideas.

Individual tenacity, mature judgement under fire, and innovative problem-solving have "won over" more people than all the astronomical sales figures put together.

People becoming involved with any new venture want to know  that the person in charge. the guy running the business knows what he's doing, will not lose his cool when problems arise, and has what it takes to make money for all of them.

After showing the "muscle" of this person, go on to outline the other key positions within your business; who the persons are you have selected to handle those jobs and the sources as well as availability of any help you might need.

If you have been in business of any kind, the next chapter is a picture of your financial status, a review of your operating costs and income from the business to date.

Generally, this is a listing of your profit & loss statements for the six months, plus copies of your business income tax records for each of the previous three years the business has been an entity.

The chapter on the explanation of your plans for the future growth of your business is just that an explanation of how you plan to keep your business growing a detailed guide of what you're going to do, and how you're going to increase your profits.

These plans should show your goals for the coming year, two years, and three years. By breaking your objectives down into annual plans, your plan will be accepted as more realistic and be more understandable as a part of your ultimate success.

Following this explanation, you will need to itemize the projected cost and income figures of your three-year plan. It will take a lot of research, an undoubtedly a good deal of erasing, but it is very important that you list these figures based upon thorough investigation.

You may have to adjust some of your plans downward, but once you've got these two chapters on paper, your whole business plan will fall into line and begin to make sense.

You will have a precise "map" of where you are headed, how much it is going to cost, when you can expect to start making money, and how much.

Now that you know where you are going, how much it is going to cost and how long it is going to be before you begin to recoup your investment, you are ready to talk about how and where you are going to get the money to finance your journey.

Unless you are independently wealthy, you will want to use this chapter to list the possibilities and alternatives.

Make a list of friends you can approach, and perhaps induce to put up some money as silent partners. Make a list of those people you might be able to sell to, as stockholders in your company.Image result

Make a list of relatives and friends that might help you with an outright loan to furnish money for the development of your business.

Then search out and make a list of venture capital organizations, pick up the loan application papers they have.

Read them, study them, and even fill them out on a preliminary basis. and finally, check the costs, determine which business publications would be the best to advertise in, and write an ad you would want to use if you did decide to advertise for monetary help.

Read the book that has helped many to own a business of their own

With listing of all the options available to your needs, all that's left is the arranging of these options in the order you would want to use them when the time comes to ask for money.

When you are researching these money sources, you will save time by noting the "contact" deal with when you want money, and whenever possible, by developing a working relationship with these people.

In your documentation section, you should have a credit report on yourself. When you get your credit report, look it over and take whatever steps are necessary to eliminate any negative comments.

Once these have been taken care of, ask for a revised copy of your report and include a copy of that in your business plan.

If you own any patents or copyrights, include copies of these. Any licenses to use someone else's patent or copyright should also be included.

If you own the distribution, wholesale or exclusive sales rights to a product, include copies of this documentation. You should also include copies of any leases, special agreements or other legal papers that might be pertinent to your business.

Conclusion. In conclusion, write out a brief, overall summary of your business- when the business was started, the purpose of the business, what makes your business different, how you're going to gain a profitable share of the market, and your expected success during the coming 5 years.

The last page of your business plan is a "courtesy page" listing the names, addresses and phone numbers of personal and business references,

persons who have known you closely for the past five years or longer, and companies or firms you've had business or credit dealings with during the past five years.

And, that is it, your complete business plan. Before you send it out for formal typing; read it over once a day for a week or ten days.

Take care of any changes or corrections, and then have it reviewed by a Lawyer and then, an accountant. It would also be a good idea to have it reviewed by a business consultant serving the business community to which your business will be related.

After these reviews, and any last-minute changes you    want    to    make,    it    will    be    ready    for    formal    typing.

Profitable business ideas here.

Congratulations, and my best wishes for the complete fulfilment of all your dreams of success!!!

(This article on business plan was written by Emmanuel K. Olorunfemi

Esq of MoneyIQ, e mail-- money_iq@yahoo.

how to write a business plan

Otunba Jide Omiyale (MBA,FCIM)