Monday, 19 October 2015

PHOTOGRAPHY—HOW YOU CAN CREATE A JOB FOR YOURSELF




Are you without a job? Do you still go from one office to the other distributing your CV? How many years have you spent at home in the hope that someday you will get hired? Well, look no further. Turn your waiting period to a skill acquisition period. Learn what it takes to be a freelance photographer and make money every week.

SCOPE OF THE BUSINESS
Coverage of different events such as birthday parties, marriage ceremonies, naming ceremonies, burial ceremonies, etc. Video coverage is another arm of photography that guarantee steady income.
START UP FACILITIES
1.       A professional camera
2.       Printer
3.       Studio light and flash
4.       Computer
5.       Furniture
6.       Studio enhancing facilities.
7.       Scanner
8.       Fans or Air Condition
9.       Generator
10.   A big store in ideal location
SKILLS REQUIRED
Ability to handle camera and provide a professional photo that will amaze your customers and keep them coming back again and again. This is quite important because there is competition in this area. Also, you need a computer skill in other to edit photos. Knowledge of a photo editing software such as photoshop is necessary. Please note that if you don’t have the start up capital for the business, you could just buy a professional camera which you use in the field as a roving photographer.

HOW LONG DOES IT TAKE TO ACQUIRE THE SKILL?
Depending on your seriousness, you are likely to spend one or two years on the training.

THE BOTTOM LINE
Establishing a photo studio  with state- of- the-art facilities is pretty expensive. So you have to count the cost before embarking on this journey. As a rule, you need a very good business plan otherwise you might run into trouble after investing on it. So be wise. If you need know the entire take off cost, be free to seek our consulting services. Additionally, we can help you with the business plan.

Tuesday, 13 October 2015

FIVE REASONS WHY BUSINESSES FAIL WITHIN EIGHTEEN MONTHS




It is a shocking reality: most businesses fail within eighteen months of its establishment. Knowing this will help you to do the right thing and avoid this situation. The following are the reasons why this situation happens:
1.       Not understanding your customer. The customer holds the key to your success, hence if you don’t know customer behavior you are in trouble. In fact, you have to know what motivates customer purchase and what turns them off. Listening to feedback from them is equally very important. Sometimes, they may not vocalize it but when you observe them closely you will see signs of communication: something they want you to address.
2.       No unique selling point. In this case, if your business does not stand out from the competition then you are going to have a hard time attracting customers. To succeed, you must do things differently, thus giving the customers enough reasons to patronize you.
3.       Failure to communicate  value propositions in clear, concise and compelling fashion. Many entrepreneurs work hard to discover a point of differentiation then blow it because they do not communicate their message in a clear, concise and compelling manner. The solution is simply to learn how to communicate better. Listen to the words they use and then use them right back at them. Be clear. Customers should know the value your business brings to them.
4.       Poor leadership. Poor decision making and weak leadership skill affect the business survival. So you need to learn the rules guiding good leadership and how to make good decisions. You have to be very careful in whatever decisions you make regarding your business, otherwise you could put your business at risk. Therefore, acquire the necessary skills of leadership.
5.       Lack of a business plan. If you jump into business without first coming up with a good business plan, you risk failure within a short time. The importance of a business plan cannot be overemphasized. In fact, it gives you a general overview of the business even before you start it. It prepares you for the task ahead. It gives you valuable insight into the likely challenges associated with that business.

THE BOTTOM LINE: Before starting a business, consider these points very well. Do not rush into it. Arm yourself with necessary information and sail successfully through the challenges that start up businesses face. For a consultation, be free to call me on 07031384722.
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HOTEL BUSINESS VERSUS BAR SPOT BUSINESS: WHICH IS MORE PROFITABLE?




No wise business man should rush into hospitality management. Just because the other guy is excelling in the business does not guarantee your success too.
FACTS ABOUT HOTEL BUSINESS
1.       You need a nice location, preferably in the heart of the city to attract more clients. The problem is that getting a land in such area is very expensive. For instance, in Benin City( Edo State) a 200 by 200 feet land space in Airport Road or Sapele road runs into over N100 millions.
2.       Having a standard hotel with state-of-the-art facilities is very dear(expensive).
3.       You need many workers to run the hotel smoothly.
4.       The cost of maintenance is very high. In fact, from the start to the finish it is pretty expensive to own a hotel.
5.       The number of clients you are likely to attract is unpredictable
6.       The rate of repeat patronage is low
7.       It has a very long period of capital recovery
8.       The risk level is high
FACTS ABOUT BAR BUSINESS
1.       The location does not matter so much as for hotel. You attract customers anywhere, everywhere and at any time provided you have choice drinks and assorted meat.
2.       Depending on your taste, cost of set up is not high. You can even rent a space in the best strategic location.
3.       You do not need many workers on your pay roll
4.       The cost of maintenance is low.
5.       The rate of repeat patronage is high. One customer could keep coming with his friends again and again.
6.       It has a short period of capital recovery
7.       The risk level is low
8.       It has a high profit potential especially when you play your cards well.
MY ADVICE
In view of the foregoing, instead of pumping upwards of 50 million naira into a building a standard hotel with a rather low turn over rate, go for a bar business where you spend far less but with a high turn over rate. If you need more information in this regard, feel free to call 07031384722 

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