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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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Monday, 8 October 2018

Top 50 best business advice




As an entrepreneur you will face challenges and go through tough times on the course of running a business which is not inevitable, this is the reason why I would love to share with you best business advice I have ever come across.

The road to business success, Is a long and bumpy one, often littered with pitfalls before success comes knocking.

To keep you on the right track whenever you experience setbacks, failure, and barriers, I have combined 50 resourceful best business advice to make you stay positive always.

 This best business advice is from the world's best leaders, inventors,  and billionaires that are highly recognized at the mention of their names.  Do enjoy and be inspired.

1.Richard Branson

best business advice

Sir Richard Charles Nicholas Branson is a well-known business magnate, author, investor, and philanthropist. He is the Founder and CEO of Virgin Groups, the firm that controls more than 400 companies, ranging from retail, music, and transport.

This is Richard Branson best business advice on how to succeed in any kind of business you do.

'If you can change people's lives, then you have a business'

‘Business opportunities are like buses, they are always another one coming'

‘A passionate belief in your business and personal objectives can make all the difference between success and failure. If you are not proud of what you are doing, why should anybody else be?'

Lesson: Love what you do as a businessman because if you don't, you might give up in the long run. This is one of the most common traits every successful entrepreneur you see have.


2.Dr.Aliko Dangote

best business advice

Dr. Aliko Dangote is a well known and prominent Nigeria business tycoon, industrialist, investor and also the owner of Dangote Groups. Which has an interest in commodities in Nigeria and other African countries

The tycoon shares one of the ideas that led to him being a successful businessman.

'Don't kill the competition. Competition is healthy for businesses. It keeps you the entrepreneur on the toe.'

 Lesson: Never see your competitor as an obstacle rather see them as an advantage either by selling the best products or services to your customer that would meet their needs.

3.Colin Powell


Colin Powell was an American State's man and a retired four-star general in the United States Of America army. The general gives his best advice on business's success.

‘They are no secrets to success. It is the result of preparation, hard work, and learning from failure'

Lesson: This summarizes everything about the business, success is no magic. Is the effort that you put in today that you will see the result tomorrow.

4. Steve Jobs

best business advice

Steve Paul Jobs was an entrepreneur and business magnate. Not only that, he was also the chairman, chief executive officer, and a co-founder of Apple Inc ( One of the best leading names in terms of mobile phones and computers. Who later died on October 5th, 2011 after battling pancreatic cancer. This is one of the best business advice from Steve Job I can hold onto, anytime any day.

‘Great things in business are never done by one person. They are done by a team of people'

'Your time is limited, so don't waste it living someone else's life'

Lesson: I personally love this business advice a lot. Reasons because a team with like-minded individuals will achieve a lot when running a business. I believe in Teamwork makes the dream work

5.Thomas J Stanley


'You can become a millionaire, you must learn to think like one. You must learn how to motivate yourself to encounter fear with courage. Making critical decisions about your career, business, Investments, and other resources conjures up fear, fear that is part of the process of becoming a financial success'

6.David Ogilvy


David Mackenzie Ogilvy was an advertising tycoon, founder of Ogilvy and mather, also known as the Father of advertising. He shares his business advice on how to make your product better.

‘If it doesn't sell, it isn't creative'

Lesson: You have to make your product stand out from the crowd either by making it more innovative.

7.Anonymous


'From my very first day as an entrepreneur, I have felt the only mission worth pursuing in business is to make people's lives better'

Lesson: Entrepreneurs are known as problem solvers. Identify a problem in the marketplace and bring in a solution!

8.Mark Zuckerburg

best business advice

Mark Zuckerburg is a well known American technology entrepreneur and philanthropist. He is the leader and co-founder of one the most leading social media networks, Facebook. Which has successfully connected billions of people across the world.
He shares views on how to run a business easier and faster.

‘I think a simple rule of business is, if you do the things that are easier first, then you can actually make a lot of progress'

Lesson: Absolutely, you will get things done faster if you start the things that are easier.

'Move fast and break things". It means, if you are not making any mistakes, you are not moving fast enough. What people initially perceived as mistakes turned out to be a billion-dollar idea – a social network that would one day connect the whole world'

 Lesson: In whatever you do as an entrepreneur, continue till you get done even if you make mistakes. I have been an internet entrepreneur for years, I know the mistakes I have made while running my online business and as times goes by I begin to learn new things in every mistake being made by me.

9.Mike Adenuga

best business advice

Mike Adenuga is notable Nigerian billionaire businessman and emerged as the 2nd person in Nigeria. He is the owner of Globacom company, Nigeria's second largest telecom operator and has a presence in Ghana and Benin Republic.
The philanthropist gives an advice on you to be working hard as a business owner.

'The harder you work, the luckier you get.'

Lesson: But how can a businessman work harder and get luckier? You can attract big clients to your business if you are hardworking and you can also get a contract if you are also hard working. That's luck

10.Michael Leboeuf


Michael Leboeuf is an American business author and former management professor at the University Of New Orleans. He advised business owner on the customer's satisfaction.

‘A satisfied customer is the best business strategy of all'

11. Jack Welch


Jack Welch is an American retired business executive, a chemical engineer and author. He was also the chairman of General Electric between 1981 and 2001

‘Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion'

Lesson: If you have a product or service that can change the world, make sure you pursue it with all you have and make sure it comes to reality.

12.Robert Collier

Robert Collier was an American author of self-help and New Thought metaphysical books of the 20th century.

‘If you don't make things happen then things will happen to you'

13. Maya Angelou


Maya Angelou was an American singer,  poet, civil right activist, and a memoirist.

She shares her own opinion on being successful in your business.

‘Success is liking yourself, liking what you do, and liking how you do it'

14.Kingsley Umeh


‘One important secret to business's success is being passionate'

‘To build a successful business, you need to have that mindset that you can'

15. Beverly Sills


Beverly Sills was an American operatic soprano whose peak career was in between 1950s and 1970s

‘They are no shortcuts to any place worth going'

Lesson: The road to success is a very long and tough one. So be up and doing to embrace the journey.


16. Harriet Tubman


'Every great dream begins with a dreamer. Always remember, you have within you the strength, the patience, and the passion to reach for the stars to change the world'

17.Drew Houston


‘Don't worry about failure, you only have to be right once'

18. Joel Spolsky


‘Nothing works better than just improving your product'

19.Stephen Saad

best business advice

Stephen Saad is a South African billionaire businessman, who is the owner and CEO of Aspen Pharmacare, which happens to be one of the largest producers of generic medicines in Africa.

‘In Life, you don't get anywhere or do anything you hope to without some sort of sacrifice'

20. Tony Hsieh

best business advice

Tony Hsieh is an American venture capitalist and internet entrepreneur. He is the owner of the online shoe and clothing company Zappos. Tony Hsieh's best business advice for business owners and aspiring entrepreneur

‘Stop chasing the money and start chasing the passion'

Lesson: If not for passion, I would have quit blogging a long time ago even though it hasn't made me enough money yet. You as an entrepreneur love your business more no matter the challenges you are facing.

21.Robert T. Kiyosaki

best business advice

Robert T. Kiyosaki is a well known American businessman and author. Who is famously known for one of his written books 'Rich Dad, Poor Dad'. Here's the one of my favorite business advice from him.

‘Failure defeats losers and failures inspire winners'

Lesson: You can't succeed as an entrepreneur if you avoid failure.

22.Oprah Winfrey

best business advice

Oprah Winfrey is a well known American media executive, producer, actress, talk show host and a philanthropist. Here is her best business advice.

‘I feel that luck is preparation meeting opportunity'

23. Dennis Waitley


Dennis Waitley is an American motivational speaker, consultant, and writer.

‘Continuous learning is the minimum requirement for success in any field'

24. Henry Ford


Henry Ford was a business tycoon, American Capitan of industry and the founder of the Ford Motor Company.

‘A business that makes nothing but money is a poor business'

Lesson: Your product or service shouldn't only make you money but it should also add value to your customers.

25.Anonymous


‘To be successful, you have to have your heart in your business, and your business in your heart'

26.Unknown


‘It doesn't matter how slowly you go, so long you do not stop'


27. Kim Grast


‘If you don't value your time, neither will others. Stop giving away your time and talents. Value what you know and start charging for It'

28. Hakeem Belo-Osagie


Hakeem Below Osagie is a notable Nigerian businessman and the chairman of Metis Capital partner organizations. Hakeem

‘Teams are crucial because they combine the differing talents of different individuals, and they make the whole idea better than the part'

29.B.C Forbes


B.C Forbes was a Scottish-born American financial journalist and also an author who founded Forbes Magazine

‘If you don't drive your business, you will be driven out of businesses'

Lesson: This business advice from B.C Forbes talks about being competitive else your business wouldn't get you customers or make you money.

30. Jack Ma

best business advice

Jack Ma is a famous Chinese business magnate, philanthropist, and investor. He is the co-founder and chief executive officer of  Alibaba Group, a multinational technology conglomerate. Jack Ma shares his business advice on how to make your product more innovative.

'Always think about innovation, not just blind acquisition'

31. Strive Masiyiwa

best business advice

Strive Masiyiwa is a Zimbabwean entrepreneur, businessman, and philanthropist. He is the founder and chief executive officer of diversified international Telecommunications, media and technology group Econet wireless and Econet media (Kwesé). Strive Masiyiwa talks about being hard work and dedication to completing your vision.

‘A vision on its own is not enough, hard work and dedication is required to make that vision a reality'

Lesson: If you have a vision that your must be on the top notch, then you have to work hard and be dedicated to make sure it comes to reality.

32. Ray Kroc


Ray Kroc was an American businessman. The businessman shares his own view on risk-taking in any business.

‘If you are not a risk taker, you should get the hell out of business'

Lesson: Only take the risk that is worth it.

33.Folorunsho Alakija



Folorunsho Alakija is a prominent Nigerian billionaire businesswoman, and one of the African richest women. She talks about being productive in business

‘It's essential to draw up a "things to do" list on a daily basis and set priorities in executing them, making sure that any unfinished task get posted to the next day's list'

Lesson: The more productive you become as an entrepreneur, the more tangible and positive result you will get.

34. Morgan Freeman


Morgan Freeman is an American producer, narrator, and producer.

‘As you grow in this business, you learn how to do more with less'

Lesson: The more experienced you are in any sort of business, you will learn to do better things with less efforts.

35. Kevin Ashley


‘The journey is forever. Do not ever let yourself feel like you have arrived, because if you do someone else will come and run right past you. You always have to keep going because you haven't reached the mountaintop yet'

36. Phineas.T Barnum


Phineas.T. Barnum was an American business, politician and showman remembered for promoting celebrated hoaxes.

‘No man has a right to expect to succeed in life unless he understands, and nobody can understand his business thoroughly unless he learns it through personal application and experience'

Lesson:  Experience is the best teacher of all time, as they do say.

37. Alex Fourie


Alex Fourier is a South African entrepreneur, founder, and chief executive officer of Ifix. Tells the best business advice on making your product and service incredible.

‘Focus on making your product or service awesome. I see a lot of guys go into business with a 'how can I make money' approach. But if you go in there saying 'how can I make something awesome', the money will follow'

38. Malcolm X

 

Malcolm X was an American muslim minister and human right activist.


‘The future belongs to those who prepare for it today'


39. Tony Elumelu


Tony Onyemaechi Elumelu is a Nigerian entrepreneur, economist, and philanthropist. He is the founder of Tony Elumelu entrepreneurship program, a program specially designed for African entrepreneurs to get business capital, mentorship, and training.

‘My advice for small-scale entrepreneurs is: run your business well, if you run your business well, you grow'

Lesson: An entrepreneur must know to manage his  business well and mostly funds, the resources, have the ability to gain more customers and retain his customer's base

40. Walt Disney


Walt Disney was a recognizable American entrepreneur, voice actor, animator, and film producer.

‘The way to get started is to quit talking and keep doing'

Lesson: Make things happen and don't just talk about things to happen.

41. Albert Schweitzer

 

Albert Schweitzer was an organist, writer,Alsatian theologian, humanitarian, physician, and philosopher.

‘Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful'

Lesson: All successful entrepreneurs love what they do, that's one of the common traits they have in common.

42. Chris Grosser

 

Chris Grosser is an entrepreneur and also the owner of chrisgrosserphotography.com

‘Opportunities don't happen, you create them'

Lesson: Big business firms you know today didn't just appear all of a sudden. Let's take Facebook, for example, Mark Zuckerburg created Facebook because he saw the opportunity and benefits of connecting people worldwide through his idea.

43. Fred Wilson


Fred Wilson is an American businessman, blogger, and venture capitalist.

‘Markets come and go. Good businesses don't'

Lesson: As a business owner, you have to create a brand that stands out from the rest.

44. Peter .F. Drucker


Peter Ferdinand Drucker was an Austrian-born American management consultant, author, and educator,  whose writings contributed to the philosophical and practical foundations of the modern business corporation.

‘In every success story, you will find someone who has made a courageous decision'

Lesson: No matter how small the decision you made is, it can change your life forever.

44. Jeff Bezos


Jeffrey Bezos is a notable American technology entrepreneur, philanthropist, investor and the founder, chairman, and CEO of Amazon( the largest best online retailer)

If you decide that you're going to do only the things you know are going to work, you're going to leave a lot of opportunity on the table." 

45. Elon Musk

elon musk best business advice

Elon Musk is a business magnate, engineer, and investor. He is the founder, CEO and lead designer of Space X, Co-founder of PayPal, CEO, co-founder, and product architect of Tesla Inc, Co-founder of Neuralink. One of the best world's business leaders advises entrepreneurs on how to make their product better.

'If you're entering anything where there's an existing marketplace, against large, entrenched competitors, then your product or service needs to be much better than theirs' 

46. Larry Page


Larry Page is a well known American computer scientist and one of the successful internet entrepreneurs who co-founded Google with Sergey Brin. The internet entrepreneur shares one of the most captivating business advice.

'You don't need to have a 100 person company to develop that idea'

Lesson: You don't need to have lots of business team before launching your business idea.

47. Steve Wozniak


Steve Wozniak is A thought leader, an American inventor, programmer, technology entrepreneur, electronics engineer and a philanthropist who co-founded Apple Inc alongside with Steve Jobs

Find somebody who has been building things in their garage. That's the person you'll want to work with." The reason: Such people are problem solvers.

Lesson: Having the right team for your business is of extreme importance because they will help you reach your goal faster.


48. Bill Gates


Bill Gates is a well notable business billionaire, investor, business magnate, author, humanitarian, a philanthropist and the founder of Microsoft Corporation which he started at a very peak age.

The philanthropist gives business owners a very important advice on the decision you should take whenever you get a negative feedback from your customer about your product or service.

'Your unhappy customers are your greatest source of learning'

Lesson: Your customer's criticism of your product or service shouldn't make you feel bad as an entrepreneur but you can turn that criticism into an area of strength for your business.

49. Mark Cuban


Mark Cuban is an American investor and businessman. He is the owner of National Basketball Association, Dallas Mavericks, co-founder of 2929 entertainment and chairman of AXS television. The investor gives his best business

'Learn to sell. In business, you're always selling – to your prospects, investors, and employees. To be the best salesperson put yourself in the shoes of the person to whom you are selling. Don't sell your product. Solve their problems.'

Lesson: Make your product or service more innovative in such a way that it would add value to your customers and at the same time make you money.


50.Warren Buffet


Warren Buffet is an American business tycoon, philanthropist, investor, speaker who is the current chairman and chief executive officer of Berkshire Hathaway. Also the third wealthiest person in the world as of June 3rd, 2018. The investor reveals a useful business advice for entrepreneurs.

'The best investment you can make in this life as an entrepreneur is in your own abilities. Anything you can do to develop your own abilities or business is likely to be more productive'


Lesson: Self-investment is the best investment. You can invest in yourself as a business owner by staying healthy and reading books dedicated to the type of business you do and also entrepreneurship books.


 These are my top 50 best business advice for you as an entrepreneur who wants to achieve success in business. Which one is your favorite? And can you also add yours so that others can learn from it?. Let's know your thought using the comment box!

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Friday, 28 September 2018

Nnu income program review

Nnu income program
If you have been hearing of NNU Income Program and how people have been talking about making money from it, and you are still on the fence doubting if this is not another MMM, here is the post you need to read about nnu income program review

If you are looking for a legit NNU Income Program review that is not written all in the name of getting referrals or to tarnish the image of the program, this is it.

You are on this site because you may have typed any of these key phrases;
  • Nnu income program review
  • Is NNU legit
  • Nnu income registration 
  • NNU income opportunity 
  • NNU payment program
  • nnu.ng review 

Irrespective of what brought you here, I know you want the truth, and that is what you will get. Trust me, I am sharing with you an honest NNU Income Program review and not just to join the list of webmasters talking about the program.

You are going to learn from this post, everything you need to know about NNU Income Program and if it is still safe to join or you are already late.

Payments proofs :


 


What is NNU Income Program? 

Nigeria News Update (aka NNU) is a company registered in Nigeria with a mission of helping students, bloggers and middle class citizens of Nigeria in generals make money online just by taking action on some certain activities.

This program was founded July 2017 by a young Nigerian netpreneur with the name Paul Samson. Paul Samson is not a new name in the make money online game in Nigeria. He has been there for a long time. He is the founder of numerous site like eboss.ng, coolnaira.ng and many others.
Since the program was initiated, it has paid out millions of Naira to it participants.

Presently, it is the only legit program (many have joined the train) online that allows it users to make money just by reading post, commenting on posts in the forum, sharing news and assigned sponsored post, and you even earn for loging into your account daily.

How to Earn From NNU Income Program? 

NNU has two revenue sharing opportunities which are;

NARS (NNU Ad Revenue Sharing) 

With NARS, you earn residual income when you log into your NNU account daily, read news, drop a nice comment on any post shared, post forum topics and share assigned sponsored posts on social media.

You are only eligible to withdraw when your NARS earnings has reached #5,000

NAP (NNU Affiliate Program) 

As far as your account get approved upon registration, you are automatically an affiliate. As an affiliate, you earn N1000 for every successful signup via your referral link. You get to see the earning on your dashboard when the person get approved.

The more people you introduce to NNU Income Program opportunity, the more money you make. For example, if you are able to just get at least 1 person to join the program daily, that is N1000 for you everyday outside your other earning from NARS.

This means, if you can successfully get only 10 persons in a month to sign up for NNU Income Program, you have N10,000 already waiting for you to cash out on pay day.

N.B : Referring is optional, is not a must.

Breakdown of the Earnings on nnu.ng
There are generally 5 ways one earn from this program and here are the amount of each earning per activity;


  • Active Daily Login


Depending on the revenue share for that day, members earn N50 or more as they log into their account each day. As far as you log into your account on a daily basis to browse through content and read news, you earn N50 or more for that day.


  • Sharing of Sponsored Posts


Everyday, NNU assign a sponsored post on member's dashboard to be shared on Facebook and Twitter feed. You earn N100 on any assigned sponsored post you share on your timeline.

On pay day, NNU will review your timeline to check if NNU assigned sponsored post is shared on your timeline as recommended before making payment for it.


  • Reading Post, Commenting and Contributing 


For commenting on any post on the website, you earn from N2 and above depending on daily ad revenue.


  • Posting Forum Topics


If you can post a relevant topic on the forum and it gets approved, you earn N100 for doing that.


  • Affiliate Commission


You earn 62.5% commission per referral. This is equivalent to N1000 per person you introduce into the program.

How Do NNU Make Their money? 

NNU make their money from ads revenue they display on the site and from sponsored posts. It is from these revenue that they share with their users.

Is the Program Legit? 

Yes, the program is legit.

There are so many evidence on the net and many social platforms of people who have been paid since the program became viral. So, there is nothing to fear. The program is legit and still open for new members to join in.

Can I Still Join Or Is it Late? 

It is never late to join. People are joining the program as you are reading this post now. CLICK HERE TO JOIN and start making money online!

1.How to make payment using paystack
With Paystack, you can use your ATM card for your Nnu income program account.

1. Fill in the code in front of your ATM card
2. Submit the date on your card as well.
3. Lastly, submit the CVV code which is the 3 digit codes at the back of your ATM card
4. Click pay and you will receive an OTP code from your bank through text message. Submit the code on the second page you will be redirected.
Your account would be approved instantly after submission and you will start earning as you take actions.

2. Payment using coupon code

You can purchase coupon codes from one of their agents, using their contact number to reach them through call or WhatsApp.

How to Join NNU Income Program Opportunity

To join the program, YOU CAN JOIN RIGHT NOW
It will only cost you a one-time fee of N1600 to get approval. After you are accepted, you just visit your dashboard, input details like the bank account details you will want your money to be sent to and you are good to go.

If you still have any questions, you can drop it in the comment box below this post and it will be attended to within 24 hours or WhatsApp me personally via https://api.whatsapp.com/send?phone=2348138307121

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