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Sunday, 27 January 2019

How to build a multi million dollar business

build a multi million dollar business
Building a multimillion business very fast seems impossible or difficult for you, right?
Don't worry, we are here to help you!
In this article, you will learn how to build a multi million dollar business very fast in simple and easy-to-take steps.

Proven ways on how to build a multi million dollar business very fast


1. Deliver enormous amounts of value


One of the roadmap to building a multimillion very fast is to deliver value to your customers. Whatever you are offering as a product or service must be of help to others. Without that, your dream of building a multimillion business is only a mirage.
This is one of the things that accounted for the success of the most successful businesses you see today.

You see, the main reason people buy your product is to get their problem solved, once they discover that your product is not delivering that, they will get frustrated and never patronize you again, not that alone they will also share their bitter experience with others, and gradually you'll begin to lose both existing and potential customers. That's why your focus needs to be on delivering maximum value to them; don't try to cut corners or exploit the customers, or else failure is looming.

When you deliver maximum value to your customers, you are helping them to solve their problem, and that is what will keep them coming back. Also, when a customer is delighted with your product, they will be eager to tell others about it, and more recommendations simply translate into more customers.

Focus on value if you must build a multimillion business fast!


2. Find A Problem And Focus On Solving It


Problem-solving is the bedrock for building a multimillion business fast. A vast majority of people are very rationally being; they only spend to get their problem solved. So, as an aspiring mega business builder, you need to look deep into peoples problems or what they want to achieve and focus on how to better solve it than anyone else. The truth is that your ability to discern and solve particular problems in the market will determine the level of your success.

For instance, Larry Page and his team created Google.com to help people find answers to their questions on the internet, and today, the brand has gone from a one-room business into a multimillion, international business. Google is worth billions of dollars as of today.
Would you like your business to grow like Google? Start solving peoples problem!


3. Swim in a blue ocean


The business world is like an ocean. A blue ocean signifies a new market that is void of competitors, while a red ocean is a market which is already filled with tons of competitors seeking customers attention by all means.
Being the first in a market will give you maximum profits, unlike joining the league of competitors where you need to keep cutting price so as to remain competitive in the market.
To build a multimillion business fast, don't try re-inventing the wheel, be unique, find an untapped niche or market and gather the right resources to fill a void there.

Using Google.com as an instance, Google was established in 1998, a time when the search engine market was yet to be fully tapped and till today they keep soaring higher. After the advent of Google, a lot of search engines have emerged but none is close to Google yet because Google had already captured a fractional part of the market as an early bird, and is never relenting to retain the position.

4. Develop a sound financial management


If you're serious about building a multimillion business fast, then you need to reduce the cost to the barest minimum and manage the revenue generated maximally.
Make sure you monitor the inflow and outflow of cash. Failure to do so spells an impending danger for the business, and also you will not be able to understand what you need to do to move closer to your goals.

5. Build a solid team


Your dream of building a multimillion business fast may not come to pass if you surround yourself with mediocre. So, focus on the quality of your team. The way you treat your team is how they will treat your customers, so make sure you treat them well. Remember, you can't operate your business alone; you need the help of your team members to achieve your goal.

6. Carry your workforce along


Boost your employee's drive and engagement by carrying them along. This will make them to be eager to take your business to the desired level.

7. Read books on business and finance


The secret behind the success of many business tycoons is that they never stop learning, they read a lot of books.
There are millions of books talking about business, finance, marketing, and the likes. Pick up & some of these books and unlock the potentials that will enable you to build that multimillion business which you have been longing for.

Wrapping up...

The bitter truth is that building a multimillion business very fast is not what you can achieve overnight, you have to pay the price; always do the needful, be patient, consistent, and resilient.

I wish you the very best in all your business endeavor.
The sky is your starting point!
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Monday, 14 January 2019

How to start notebooks manfacturing business

How to start notebooks manfacturing business
The world’s population is projected to hit over 9 billion people by the year 2050. Of this numbers, new births and young people will make up over 70 percent by demography. What this means is that as younger people exist, the need to build more schools and educational institutions will also increase.

This demand will also correspond to an increase in the demand for books in the form of textbooks/instructional materials and notebooks for students and pupils.
Even with the proliferation of e-learning platforms and processes, with many advocating for a ‘paperless’ society, physical books have historical and present-day significance as a repository of knowledge and information.

Starting a Note-book manufacturing business/facility will allow you to tap into the educational value chain. The demand for notebooks usually peaks in the months before the resumption of a new school year. Depending on the country, such a period is anywhere between June to August. There will also be periods in between where there will be spikes in demand for notebooks as well.
An overview of the notebook manufacturing process will serve you in good stead. The technology behind Notebook manufacturing is referred to as Paper Converting Technology, which is based on flexographic printing. The flexographic printing process involves the following stages:
Unbundling of paper reel/rolls.

Flexographic printing (printing with two or more colors as desired)
Cross-cutting with overlapping on the paper rolls.
Sheet collation, counting, and stacking.
Cover feeding for two modes of printing (pre-printed or flexographic).
Stitching of wires and folding the processed realms.
Cutting, trimming and shaping off of long edges.
Packaging the finished products
As is customary with starting any business, you must take the following steps in order to enter the sector fully prepared:

1.Intern at an Existing Notebook Manufacturing Venture

This period will expose you to the actual working of the processes involved in Notebook manufacturing. You will get accustomed to sourcing for the best grades in paper pulp, have proficient knowledge on the various machinery needed for the manufacturing process, have a good grasp material management/inventory, shore up on your knowledge on financial administration and engagement of staff amongst other important issues.
You will acquire the necessary experience and conditioning required to successfully run a Notebook manufacturing facility, without having to invest any funds yet.

2.Conduct Research and Draw up a Feasibility Report

The benefits you will derive from drawing up a feasibility report include gathering information about your target market and ascertaining what modalities will work best for the facility in your desired location. The market for Notebook manufacturing is very competitive, especially considering that a good number of countries depend on imports to augment local supply.
In addition, a well-structured feasibility report opens up your business to the possibility of receiving funding from financial institutions and angel investors.

3.Establish and Secure your Supply Base

Your Notebook manufacturing business will thrive and post healthy returns, once you can secure a reliable supplier of the base material for the process: paper pulp.
One of the more important considerations you will have to make is whether you will go for the imported variety or utilize locally produced pulp. The cost of the material, as well as the quality from both sources, will guide your decision.

In addition, and depending on your negotiation skills, you can also cultivate an understanding with your suppliers as regards receiving raw material on a credit basis, for payment to be made at a later date.

4.Acquire Suitable Space and Required Machinery

The needed machinery for the typical Notebook manufacturing facility includes the following: Disc ruling machines, Paper cutting machine, Book stitching machines, Bundle/box strapping machine, shrink wrapping systems/machines. You could go for either new or fairly used versions.
You will also require the services of a plant design engineer to help you draw up an efficient arrangement for the machinery.  The location of your venture should be close to either the source of your raw material or to your target market. The final decision will be based on the opportunity costs inherent in choosing one of the options.

5.Engage Competent Hands and have an Effective Inventory System

Your manpower needs will be a mixture of both skilled and unskilled staff. You will have to choose competent individuals, who will help you achieve a smooth and efficient production process.
Staff selection is a process that will warrant your time and undivided attention so that you can select individuals based on competence and skill sets required for the production process.
Your inventory for both raw materials and finished products must be structured in such a way to reflect the nature of your business. Your inventory management system should guard against wastage in every step of the production process.  The finished products must also meet with the minimum standards for quality.

Reading through this post is one first step towards your goal. Taking action is the most important step you need to take to achieve your goal. Don’t wait for everything to be perfect before going for this project. Start small by taking small step towards getting started.
Do your research in your country and draw out a perfect plan for the business and go for it.

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Friday, 7 December 2018

How to avoid being scammed when importing

One of the foremost panic individuals who intend to get into the import business face is that of fraudsters who portray themselves as international suppliers or companies. This is no surprise as the rate at which scamming schemes are now being devised to exploit well-meaning business individuals is getting alarming.

On Alibaba, for instance, I have heard of a number of individuals who have complained about fraudulent companies with whom they have transacted business with and gotten defrauded at the end of the day. At the same time however, there are some customers who have testimonies about transacting business with companies listed on Alibaba; so it is a critical choice to choose the category you wish to register an experience with.

This is a particular challenge to persons who have little or no idea about the business of importing. Thank goodness you are here now, hopefully you would get sufficiently vital information to overcome that fear and move on with your intended business.
The following considerations and steps are strongly recommended to be met in order to avoid being scammed when importing foreign products.


1. Research about the Company


It is important that aside from the company’s name, you should go through any profile pertaining to the company you can possibly access; from business type (if it is a manufacturing, trading company etc.), management records and certificates, the legal representative, registered capital, and even registered address.

Go on to ask the company you want to import from to give you a number of references that they have transacted business with and upon receiving names of such companies, promptly verify by contacting such companies, as well as scratch out all the possible information you can obtain from the reference companies concerning the company you intend to do business with.

So, it’s all about the internet presence they have; check out their website to know how voluminous their dealings are; then check their phone and fax numbers. Check out for complaints or commendations and feedbacks.

2. Keep Away from the Policy of Advance Payments


Avoid companies that emphasize on massive advance payments as well as utilize bank transfers in carrying out transactions. For credibility and safety, it is advisable to adopt payment methods that are professional, especially if it is the first time you would be transacting business with the given company.

One such professional service is the Letter of Credit, and another is a credible Escrow service. This does not remove the possibilities of a fraudulent escrow service; however, note always that Letters of Credit are never sold.

3.Request for Sample


This is a necessary process before you place an order for goods to be imported. The use of the sample requested is for the purpose of verifying the degree of quality possessed by the products, as well as check if they tally with what you really wish to import.
Do not forget that you would pay for the sample, though at a lesser price when compared to conventional import costs. This approach can hardly be overemphasized in terms of the extent to which it can save you costs that would have befallen you either through scam or slim quality.

4. Have a Third Party


However, if you do not want to incur the cost of traveling, you could pay for the services of a third party to visit the company at their location which you should have verified initially for authenticity.

5. .There are No Platter of Gold


It is often said that “if it sounds too good to be true, then it indeed probably is”. The message should have been conveyed, however, just for the sake of emphasis, never take the bait of extremely low prices compared to usual market prices; raise your gage of suspicion.

You should know also that the fact a company says or is listed as a gold or platinum supplier does not imply a 100% guarantee of trust. Extra measures should cleverly be taken to verify such claims, and one very intelligent step is to look up such business in the archives of the local Chamber of commerce.


6. Do Not Be Ignorant of Scams


Utilize resources that are free such as Internet Crime Complaint center, econsumer.gov, International Financial Scams; they would help you get more knowledgeable about scams and other fraudulent schemes that go on in the internet or more precisely in the business of avoiding them. More knowledge about these schemes gives you more grounds to avoid them and be safe.
It is of a cautionary note to that you take the necessary precautions before diving into the trade of importing products from outside country. Follow the appropriate steps against scams and have yourself a happy importing experience.
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Saturday, 1 December 2018

Spend Management Software to Manage your Employee Spending Effectively


With spend management solutions, businesses will have increased compliance, data accessibility for improved decision-making and a better idea of spending, making it easy for you to focus on better planning. Around 40% of companies use pen and paper, 27% use Microsoft applications such as Excel to generate expense reports. These old-fashioned paper-based processes are difficult to track, erroneous and vulnerable. All these make employee-initiated spending the second largest controllable expenditure for most organizations.

Cumbersome spend management processes would slow down the reimbursement process. More than 80% of employees state it takes more than a month for expenses to be approved. Mostly, employees get benefit from features such as direct deposit, expense report automation, integrated travel booking, mobile receipt capture, and approval. Automating internal processes and moving to cloud-based expense report systems is where you have to put in an effort to streamline the processes. This way you can set clear budgets for various categories of corporate travel.

With improved expense reporting process, organizations can better control costs and cut down spending by switching to software-as-a-service solutions. Cloud-based expense report software requires less maintenance compared to legacy systems or in-house solutions that require a lot of administrative work.

Cloud-based solutions allow us to easily integrate with other internal systems that a part of the internal processes. Say, the accounting system is a part of the reimbursement process. When you have on-premise systems, you have to maintain data in two different systems, which would require you to manually enter the data into two systems. This would waste a lot of productive time for your finance/accounts department. In contrast, having a centralized system can help you access data between the systems. This allows you to easily interface with the systems and gives you room to analyze the data and make informed decisions. Besides cost savings, scalability and security, cloud-based solutions can help businesses focus on strategic initiatives rather than expense report filing. Automating spend processes can cost a fraction of legacy systems and provides immediate returns on investments.

The benefits of spend-management solutions exceed beyond financials.

Mobility is the best characteristic that users would most like in the automated system. Mobile features such as automatic receipt capture, report creation, and approval are important as workforce become more mobile. Going mobile not only saves employee time but also speed up the internal processes. Mobility alleviates the need to save receipts as employees can just snap a picture directly from their smartphone and attach the receipt to the expense report. Besides this, GPS is another feature wherein employee can track the distance traveled while on the business trip. This prevents the ability to commit mileage fraud as the total distance gets directly populated in the expense report.

Employees who travel frequently should be able to book travel plans, submit invoices or approve travel requests directly from their mobile. This is where your spend management system should include travel booking system. Having a travel booking portal such as SutiTravel allows businesses to define custom rules and policies within the system, so when an employee tries to book an out-of-policy travel, the system restricts when making a booking. This way you can avoid employees from booking out-of-policy trips. Pre-trip approval requests are one more feature that helps you to stay within the budget. In pre-trip approval process, employees should submit an expense request listing the estimated expenses. These travel requests will be sent for approval. Upon successful business trip, employees can directly convert these requests into expense reports, saving a lot of time for both employees and reviewers.

Also, this helps you to define budgets for itneraries and control overage spending. The integration allows you to pull-in the travel data directly from the portal to the expense reporting systems. So, employees need not spend time entering the travel data again into the expense report. Similarly, your spend system should integrate with accounting and invoice solutions so as to streamline other processes.

A modern spend management system allows you to deal with travel, expense reports or invoices in a better way. Choosing a solution such as SutiSpend management system not only streamlines internal processes but also makes it easy for you to manage to spend company-wide. Our integrated system allows various departments to stay connected so you can gain a complete picture of spending, enrich employee experiences, improves decision making, increases compliance and focus on strategic business objectives.

Author Bio:
Kevin Peterson is a content marketing enthusiast, freelance writer at SutiSoft ,
specializing in Business, ERP, Technology and Cloud/SaaS trends.

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Tuesday, 20 November 2018

How to become a successful school owner

In Nigeria, private schools are becoming very rampant, mostly nursery schools and primary schools. With the current rise of basic schools in Nigeria, it is possible to estimate that in the next 20 years, private schools can be located in almost every 500m in every given location in the country.

While this is an appreciative development because it has created a competition which has gingered many owners who previously dived into such establishments due to profit to now look and peer into value as students and pupils leave when they find better schools offering better and competitive values around, we also need to consider such vital steps for creating value and succeeding as value-based owners before commencing such establishments.

To many, perceptionally starting up a School in Nigeria is easy. Well, yes it's easy to start up a quack school as long as you have enough funding for camouflage and deception. However, being a successful school owner or becoming one entails more than just capital investment, there are other key areas to watch and build in order to achieve this aim and stand out amidst thousands of seemingly successful schools who have little Academic value.

Let's look at 5 ways to be a successful school owner in Nigeria.

1... Be Principled

You must be principled In all your dealings as a school owner. Your principled nature should reflect in how you discharge your duties as an employer and a Director of your school. Understand that expectations are high and so many people are looking up to you or would want to look up to you. Also,  be official in your dealings. Leave pleasantries when it comes to work. Even if you have kids who are your very own kids in the school, try as much as possible to jilt favouritism. Deal with them the very same way you would deal with others when it comes to academic relationships. They're your kids at home and your students in school. This is one way a principled school owner reflects this asset and thus increases chances of gaining more students.

2.Ensure discpline

Some students would give you tough time, depending on your level of engagement with the school and what level of school it is you're running. If you're a director who just visits once in a while perhaps once per term, you may not witness or have this problem with stubborn kids or the associated stress of teaching block-heads, you may only hear a few reports from your staff if your position allows that. But if you're a principal or even a teacher in your school then, you would have to witness full effect of this. Also, this problem of troublesome kids increases more with secondary school Students or even pupils or primary 5 and 6. Now, this is where you'd need to effect severe discipline. Discipline is one serious aspect of school development and to succeed as an owner you must look intently into it. Ensure that your teachers discipline students at all times when they offend, also ensure that you have a code of conduct which is signed by every parent and their wards from the inception of admittance or registration.


3... Be Jovial with students, Pupils and Parents

While you want to be principled and disciplined in your actions, you do not want to scare people away from you. You do not want to be seen as overly strict or unapproachable. Try to be a generally jovial person who only disciplines when necessary. When students of your school understand you as being approachable,  they could confide in you about certain problems they face in your school which you could work own to create a better learning platform. This in effect even attracts more and more parents from positive gossips to bring their kids to your school.


4... Employ qualified staff

Staff qualification is another important aspect of education. Qualified and competent staff guarantee quality education and of course you should know this attracts pupils and students who naturally have an affinity for quality teaching. It wouldn't be a wise decision employing unqualified staffs perhaps because you're trying to be economic when apparently it's clear you can afford to get and maintain good teaching staffs. Well, this aspect should be part of your business plan, there should be a part that states the minimum qualifications each staff or staffs who would handle specific positions should have before being employed. When your teachers teach well, your students are proud to brag to their friends and peers of how well their teachers can teach and how better off their school are than theirs.


5... Ensure a Conducive Environment

Environmental factor is the very first thing conscious parents check when they visit any school for the enrollment of their kids. Most parents take a brief survey of the environment before deciding on whether or not to go forward with pushing their kids in. A noisy environment would neither attract parents nor students because logically there would be zero concentration. Also a dirty environment perhaps one situated nearby a waste disposal unit or a borrow pit even if it is just few miles away is definitely not a good one and even if you have recruited students already, in due time they would leave when they find better places because parents are very much concerned about the hygiene and health of their children. Additionally, your extended environment might be clean and conducive but what about internal sanitation? It needs to be properly checked!

Best Regards



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Thursday, 8 November 2018

Top 35 small business ideas in Kenya and their cost estimates

small business ideas in Kenya
Are you an entrepreneur or investor? Looking for the best small business ideas in Kenya to start with?  If yes, here are the list of best small business opportunities in Kenya to invest in.

Kenya is a country located in East Africa and has about 49.7 million population as at 2017.

As an entrepreneur or investor who is willing to start any kind of business in Kenya, it will be very ideal of you to get to know the benefits and challenges you would face when running a business in Kenya.

Here are the reasons and facts about starting a small business in Kenya that you will find useful

1. Kenya was ranked as number 92nd of ease of doing business by World bank in 2017.

2. Kenya's economy has seen so much expansion by strong performance in tourism, telecommunications, and higher educations. This will be a good sector for entrepreneurs and investors to explore more

3. The agricultural sector is the largest employer in Kenya, contributing 25.3% of the gross domestic product in 2014

4. Kenya is generally considered to be the economic, commercial and logistics hub of East Africa.

5. With a strong diversified economy, Kenya has become the center and headquarters for many industries in the area.

6. Kenya has a low-risk investment environment

7. Kenya is the most advanced and largest economy in East and Central Africa, with strong growth prospects supported by an emerging, urban middle class.

Challenges you will face when running your small business in Kenya

1. Insecurity:  Safety and security has recently been a major concern in Kenya, most especially in the city of Nairobi

2. Limitations to infrastructure

3. High level of corruption

4. Lack of advanced technology

5. Poor road networks

6. The high rate of competition: So be ready to adapt and know how to overtake your competitors

7. The high cost of doing business ( such as taxes and access to business funds)

8. Counterfeiting of products

Top 36 small business ideas in Kenya.



1. Agribusiness


 Agriculture is noted to be the second largest contributor to Kenya's gross domestic product. An entrepreneur can take advantage of this sector by going into the plantation of cash crops(such as tea, coffee, cocoa, and spices) these can be exported to other neighboring countries in other to generate income.

You just have to identify the most fast-moving and profitable agricultural products that thrive most in Kenya.

2. Car wash business


This is another thriving and lucrative small business idea to start in Kenya, reasons because with the large population and a good number of vehicles, not everyone can maintain their car through professional washing service, what they do is take to take it to car wash center and they get it done for them and pay them for their service rendered. You can set a pace for yourself in this small business by getting a good business location(most especially busy location or close to major roads) and invest in the required car washing tools.

Cost between KSH100,000 and 500,000

3. Real estate


The real estate industry happens to be a profitable one to go into not only in Kenya but across different part of the world. An entrepreneur can go into this sector either by going into real estate agency. You need to know have the knowledge about this business by getting yourself acquitted with an experienced real estate agent in your locality and also have a reasonable capital to kick start this business.

The cost estimate is between KSH 1Million and KSH 5 million

4. Mobile food vending


Food is known to being one of the highest lucrative business of all time. People wouldn't go a day without satisfying their bellies, not everyone has the time to make meals for them self-based on the nature of their jobs and businesses.

If you are a great cook consider this business specially made for you, you can start making popular and most loved foods in Kenya such as the Ugali, Irio, Githeri, Kenyan pilau, Matoke, Bajia, Mutura and so on.

 You just have to make tasty foods and market your business in different streets within your locality in other to pull in more customers.

The cost estimate is between KSH30,000 and below

5. Professional cleaning service


You can offer professional cleaning service to small and big business firms, one interesting part is that this business doesn't need any certificate before you can venture into it. To get started in this business, you need to get in touch with business firms who are in need of professional cleaner in other for them to have a better working business environment for their customers.

6. Poultry farming


Poultry farming is another profitable business idea to start in Kenya. Eggs, chickens, and turkeys are mostly consumed on a daily basis in Kenya so it will thrive a lot if you decide to venture into the poultry farming business, a good approach to this business will be very important.

Cost between KSH50,000 and KSH100,000 for smaller markets.

7. Start a cereal shop


You can start up a cereal shop in Kenya in a very strategic and busy location where you sell cereal products such as beans, maize, groundnuts, green gram, porridge flour, and rice. To get started, you need to get a supplier of cereal products from different brands in wholesale price and then sell it at retail price in other to make you profit and also let them know the type of stock you may need.

Cost between KSH50,000 and KSH100,000 for smaller markets

8. Laundry business


Most people living in Kenya are the working class and business owners who have little to no time to take care of their untidy clothes. An entrepreneur can easily take advantage of this business by even starting it straight from your home. The first step in starting this business is to invest in laundry tools such as washing machines( you can purchase a 2nd hand one if you don't have enough money for the new one), iron board, detergents, and other laundry equipments and also have an aggressive marketing strategy. To retain your customer base, you need to provide them with the best laundry service.

Cost between KSH50,000 and KSH100,000

9. Transport business


This industry happens to be one of the best small business ideas that thrives the most and at the same time, it is profitable because you can make money on a daily basis if you know how to play your cards right. You have three options when starting a transport business, either you start with a tricycle, motorcycle or minibus. Get your transport business registered to avoid getting harassed by road officials. Situating yourself in a busy location will be a good move to make when starting this business.

Cost between KSH100,000 and KSH200,000

10. Mobile phone sales


Selling of mobile phones is a lucrative small business idea to start in Kenya because the number of people who wish to communicate between themselves and making use of the internet is increasing every day by day. If you pick interest in this business, you can start purchasing quality phones from well trusted and known phone brands such as Infinix, Tecno, Samsung, Lenovo, and Gionee. You can make good returns on your investment if you have a good business plan.

Cost estimate ranges between KSH60,000 and Ksh100,000


11. Manufacturing business


An entrepreneur can start any manufacturing business ideas either by manufacturing products that are highly needed in Kenya such as building blocks, creams, aluminum windows, detergents, bottled/sachet water productions, purses/handbag production (try making it with Kenya native fabrics) and many more.



12. Video game center


Video game business can easily be started because it doesn't require much capital. Most people love being entertained, you can start a pace in this business by getting a good business location with high traffic footage in Kenya. The things you need to invest in are popular game gadgets such as PlayStation 2, 3, &4, television sets, standby generator, chairs, and standing fans. You can equally get a second-hand PlayStations, t.v sets, and generators if you don't enough money to get a brand new one and also consider getting quality ones.

Cost estimates between Ksh30,000 and Ksh50,000

13. Furniture business


With the increase in rate of people who are planning to get a new house of their own and renting an apartment in Kenya which has to be a major concern among Kenyans. You can start by manufacturing and selling most used furniture products such as chairs, tables, wardrobes, shoe rank,  wooden doors, and kitchen cabinets in return, you make handsome profits on your investment.

Cost estimates between KSH85,000 and KSH100,000


14. Setup a pharmacy store


Starting your own pharmacy store is a lucrative business to think of in Kenya inasmuch as human lives are concerned, people need to be taken good care of whenever illness comes either by taking prescribed drugs by an health personnel. This business is highly regulated by government in most countries, so you need to have your license at hand, and make sure your documents pass through the legal procedure by health bodies governing Kenya to avoid being shut down from the business.

Cost estimates between KSH400,000 and KSH700,000

15. Livestock production business


Is livestock feed production a profitable venture? Let the following numbers entice you: the worldwide animal feed market was valued at 14.9 billion USD in 2013 and it is projected that it will hit over 20 billion USD by the year 2020. You can learn more about this business from already existing livestock feed production venture within or outside your locality. With a good business plan, business funds and your marketing strategies at hand, you are good to go.

16. Fruits selling


Selling of fruits happens to be one of the best lucrative business to start with little capital. To get started in this venture, you need to locate various fruits suppliers(mainly you should target those in towns/villages where fruits are mostly planted), get a good business location( a busy or commercial area will be perfect).

Cost estimates between KSH15,000 and KSH20,000

17. Rentals business


In a busy and well-populated city like Nairobi, Mombasa,  Kisumu, Nakuru, and Eldoret. They will be many different activities going on such as business seminars, events, weddings and much more. It will be a good idea for an entrepreneur who is planning to start a business to venture into rentals business where you rent out chairs, tables, and canopies to those that are planning to host various occasions in return you will make a good profit.

First and foremost, you need to have your business marketing strategies in place, purchase quality chairs, tables, and canopies in a reasonable quantity. Also, have a means of transporting it to various locations either by getting your own truck or hiring one.

Cost estimates range between Ksh500,000 and  Ksh 1million

18. Mobile phone repair


Mobile phones are man-made and can develop faults at any time, so the only way to get it fixed is by taking it to an experienced phone repairer who knows what caused the problem and how to provide the best solution.

Mobile phone repair can be learned through acquiring the skill from an experienced and skillful phone engineer. It comes with two options when learning phone repair either hardware or software but you need to start with the basic which is hardware. Once you have gotten yourself acquitted with the skill then you need to raise capital, have a business plan and kick-start the business.

Cost estimates between KSH70,000 and KSH80,000

19. Auto mechanic business


With the high rate of vehicles in Kenya, most vehicles are prone to developing faults at any time and must be fixed by a mechanic. First and foremost, if you are interested in starting your own auto mechanic business, you need to learn the skill through skill acquisition program or you pay some certain amount of money to an already existing experienced mechanic to teach you the skill.

20. Snacks business


This business can easily be started from home with little capital and investment in equipments used for making snacks. Snack business is another alternative for stay at home mums in Kenya. You can learn how to make snack products easily online.

Cost estimates between Ksh15,000 and 20,000

21. Soft drink distribution


Becoming a major distributor of popular soft drink brands such as Coca-cola, Pepsi, and Coastal bottlers is a viable small business idea to start in Kenya. You just need to have the knowledge of the game, starting this business you need to purchase soft drinks from major soft drinks companies at a wholesale price and sell them to those that are need of it such as the restaurant, supermarkets, and those hosting an event at a retail price for you to be able to make your own profit.

You just need to have own personal truck which will enable you to transport soft drinks to various cities in Kenya and also have your own business location so that people can reach out to you easily whenever they need your service.

Cost estimates between KSH115000 and KSH200,000

22. Start a movie store


Starting a movie store is one of the easiest and fast-moving venture into if you are good at entertaining people and your business location is situated in a strategic location. This business is likely to be making you money on a daily basis if you have enough customers patronizing your business. Read a detailed guide on how to start a movie store in Kenya

23. Import fast moving products


Mini importation has become one of the best viable small business idea to consider going into if you know the rules of the game. This business doesn't require much capital for setup. You can learn mini importation through an online course which you will certainly get for a certain amount of money.

Cost estimates between Ksh 60,000 and Ksh100,000

24. Daycare business


Most mums in Kenya are the working class type while some are the those who are managing one business or the other, leaving home as early as possible and probably returning late . They will have little to no time to be taking their kids to the working place. What they do is to take them to a nearby daycare center, if you love kids and you need a small business opportunity to start then this business is a good option for you.  The children's safety should be your number one priority.

Cost estimates between Ksh30,000 and Ksh35,000

25. Start a security company


Insecurity has been a major challenge in Kenya and this is a good reason an investor should give it a second thought by starting a security company where you train and recruit young people on security tips. This type of business needs aggressive marketing strategies in other to attract individuals and institutions that may require your service. A good approach to this venture will be very paramount.

Cost estimates between Ksh150,000 and Ksh200,000

26. Selling of second-hand clothes


Not everyone has the money to purchase brand new designer clothes, rather they go for cheaper and fairly used one. This is one of the highly thriving and profitable business ideas in Kenya an entrepreneur can easily start with little capital. You just need to know where you can get quality used clothes in Kenya by getting more information from those who are already in the business.

Cost estimates between Ksh15,000 and Ksh20,000

27. Internet cafe business


Cyber cafe business has been recognized as one of the most thriving and profitable businesses in Kenya. This is a gap for entrepreneurs to fill in by starting an internet cafe business where you offer internet services such as internet browsing, online registrations.

28. Recruitment agency


With the unemployment rate in Kenya, starting a venture in the recruitment agency will be a very good option because most local and foreign companies are on the lookout for qualified and skillful employees to help fill different positions in their various companies and the best way they achieve that is by patronizing recruitment consultant as they find it very effective and easier way of employing people at low costs and valuable gain.

Before starting a recruitment agency business, you need to consider the following:

1. How much capital is needed for investment?
2. Am I good at networking?
3.Identifying  the skills an employer wants in an employee
4. Are you knowledgeable about human resources?
5. What are the marketing strategies you need to take to attract clients to your business?

29.Butchery business


Butchery business is one of the thriving small business ideas to start in Kenya inasmuch as meat is consumed every day and is also considered to be a good source of protein. You can start your own butchery business on a small scale either by checking out other butchery venture and know how it is being managed. Getting to know where you buy livestock is a good thing to take note of most especially goats because some breeds come at an affordable price. Finding a good business location is a key to success in this business.

Cost estimates between Ksh30,000 and Ksh60,000

30. Popcorn business


This is another small business idea in Kenya with well-calculated business funds. You can learn how popcorn is being made from already existing business within or outside your neighborhood. Things to consider when starting popcorn business are;

1. Getting popcorn machine( get the type that produces salt and popcorn sugar at the same time)
2. Purchasing the popcorn seeds from commercial markets
3. Buy a gas cylinder( an alternative when they is no electricity )
3. Other added things to consider getting are salt, butter, and sugar
4. Determine the quantity when selling so that you wouldn't run out of loss
5. Situate yourself by the roadside or in a busy location

Cost estimates between Ksh42,000 and Ksh50,000

31.Setup a boutique store


Starting a boutique business in  Kenya where you sell brand new designer shirts, bags and shoes is a lucrative venture to think of because most people don't mind buying expensive designer wears as long as they look best in their outfit.

You just need to decide which niche you would like to target, is it children's wears? men's wear? or ladies wear?. Most clothes brands have an online presence with contact information where you can reach out to them and purchase clothes in large quantity and at a wholesale price. One of the key tenants to this business is to buy at low and sell high.

Cost estimates between Ksh150,00 and Ksh250,000

32. Beauty salon


Most people see this business as a less making money venture due to its nature but the same business is making lots of money for entrepreneurs who are already in the business, reasons because they have what it takes to attract customers either by providing them with the best service ever. You can as well join the move training and make a good amount of money either by setting up your own female salon

Cost estimates between Ksh50,000 and Ksh100,000

33. Selling of fabrics


Selling of native and foreign fabrics is a profitable small business idea to think of starting in Kenya. You can choose to purchase fabrics from Uganda, Nigeria, Ghana, and Tanzania in large quantity and sell it out in smaller divisions to tailors that are in need of it.

Cost estimates between Ksh200,000 and Ksh300,000


34. Bookshop store


With an increase in interest in education in Kenya, an entrepreneur can start a bookshop store in a locality surrounded by schools or with high traffic footage. Reading helps increase literacy and this can help improve society so this business can never die out.
You just need to locate where you can get stationary materials and books in large quantity.  Make more inquiries from already existing stationary store on how to suppliers.

Cost estimates between Ksh150,000 and Ksh200,000

35. Start a barbershop


You can start your own barbershop easily in Kenya because this business only requires you to be skillful when giving your customers a haircut which you can learn from an experienced barber in your locality by paying him to teach you the skill, with Ksh5000 or thereabouts you can acquire barbing skill within few months. Once you have known the in and out of the business then you need to consider raising capital for your business and getting a good business location.

Cost estimates between Ksh100,000 and Ksh150,000


36. Start an home appliance business


You can choose to become a major dealer in all kinds of home appliances product such as television sets, home theatre,fridges, generators, glass center tables, television stands,deep freezers, fans, and DVD players. Starting this business, you need to know where you can purchase various quality, reliable and durable products from at whole sale price from major home appliances company such as LG, Panasonic and so on. Also business location matters a lot


The cost estimate is between Ksh250,000 and Ksh500,000

Conclusion

They you have it, Top 35+ small business ideas in Kenya and their cost estimates. With these listed above, an entrepreneur or investor can choose to pick anyone based on the one their interest falls in.

I wish you all the very best and success in your business.
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Wednesday, 24 October 2018

6 bitter truths no one ever told you about small business

As  a small  business  owner,  nothing  motivates  like the  hope  that your enterprise  will  eventually buy you  financial freedom.

Sadly,  it's not every entrepreneur that gets  to see this reality. It has  been reported  that only 33% of small  businesses make  it  to t heir 2nd year anniversary. Although most entrepreneurs set out with foolproof business  plans, well  researched market analysis and  an  attitude  that could bring  down the  moon, they seem  to loose  motivation, money and the  enthusiasm to continue as  time  goes  o n. It is my opinion that such entrepreneurs  got more than  they bargained for because they were  not prepared  for the challenges  when  the  complex responsibility of maintaining  the balance in a densely competitive  market place came  knocking. Below are 6 little truths  every  small  business  owner should know about small  businesses.


1. It takes time to break even


 Many startup entrepreneurs entering  the  market  place come with the  illusion of  recovering  their  invested capital  in the shortest time  possible. This puts  undue pressure  on both the entrepreneur and the  business  in  general. There is need for every small  business  to establish  an  enduring business  brand  before going  to  maximize profits  as  no building can  stand firmly and securely without a strong  foundation.  It is important to avoid putting  the  cart  before the  horse to prevent business  failure.  Every small  business  entrepreneur must give himself ample time  to establish  a clean  chain of  command, mode of operations,  proper market presence, efficient bud geting  and  record keeping  strategy,  excellent customer satisfaction and  commiserate staff  salary and  allowance structure. As  a business  entrepreneur, you need  to understand that the market place is  designed as  a reward system  and revenue  is only generated based  on the  value  added.

2.  Starting a small business affects  you  emotionally


This is a rarely discussed factor  that affects all  small  business entrepreneurs.  The fact is that the journey into the  realm of financial freedom will  definitely  take it s  toll  on you emotionally, and otherwise. This happens  because you will  have  to work for longer hours, make complex administrative decisions and adhere to a strict budgeting structure.Society has a way of misunderstanding every entrepreneur with the determination to succeed; so you must get used to criticisms and feelings of loneliness. These are the price you as business entrepreneur must pay if you're to succeed.

3. Every small business entrepreneur is both a leader and a manager


It is important to be able to switch roles, as a small business entrepreneur, between leadership and  management. As a leader, the vision for, and eventual outcome of the business is your personal responsibility. This is usually an enormous weight to bear because you are to blame, or to be praised for the success  or failure of the business. As a manager, it is also your duty to coordinate the daily operations schedule of the business. Most small business owners make the mistake of outsourcing the management of the business; this is ill advised as you can't give a new born baby to a nanny to nurture. You need to prepare yourself for duties such as accounting, budgeting, employee relations, customer relations, branding, sales and marketing,etc, because swapping between these roles will be psychologically and emotionally challenging.


4.  Small businesses also pay tax


Many small business owners become frustrated when the little profits made are  swallowed up as taxes. Be that as it may, it is advisable to forge the habit of prompt tax payment to avoid legal action against your business which could affect your brand.

 5. Get ready for attacks and opposition


In preparing for competition, you should prepare for the  worst and  hope  for the best. Every business faces internal and external attacks and oppositions,  especially from more established corporations. It's best to create a unique market presence (brand) and perfect your unique selling proposition.


 6. You will make mistakes


Lastly, it's important to know that mistakes are part of the game. It's important to allow yourself make the necessary mistakes that build the right character and tenacity for success. Don't allow your mistakes to end your dreams, but use them as stepping  stones to success. Mistakes allow us to explore our strengths and weaknesses and to become aware of them.

Mistakes are the rungs in the ladder of mastery.
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