The Business Man

2021 Update on Nigerian Treasury bills(NTB)  The strategies mentioned below no longer work for individuals unless you are an institutional investor and the yield has not been impressive in recent times. However some banks and mutual funds still operate it for individuals by putting the money together and investing as a single entity. Introduction I once had a long talk with an old friend, trying to catch up on what he has been up to and we started talking about the stock market, the economy and other related matters. He told me how he was able to grow some cash deposits made by his uncle in his bank over the years in spite of all the economic downturn.   At the time when he received the cash deposits, he was just a newly employed bank staff and needed the deposits to keep his job.   With his position at the bank and his burning passion to add value to the funds entrusted to him he was able to find ways of growing the funds considerably. He went on to explain that his principle

  INTRODUCTION:  This is a good business only if you know how to go  about it in a unique way. Being unique involves dealing w ith your existing customers, how good your services  are and how to attract new customers. How can you  be better than the salon next to you? In this brief article  you will be enlightened on things to do. THINGS TO DO : What to do to make your customers feel special and always want to come back. Create and deliver new , added value to your existing customers—making it more difficult for competitors to woo them away.   Surprise them when they least expect.   Imagine a customer comes for a new hairstyle, surprise them with any of your services for free e.g pedicure or manicure e.t.c. Work hard to earn the trust of your current customers . Keep a close relationship with them and send them messages on their Birthdays and festive periods. ·          Look for little products that are cheap and affordable to give them as gifts su

Introduction This type of business used to be very popular in the nineties. I used to think they had gone under until recently I saw one on my street. Well I didn’t take it serious until I started noticing a couple of them around my area. I counted about 5 in my area alone. That was when I decided to take a closer look. On looking into one of the places, I realized they had mostly Yoruba movies and the number of people that were at that shop that day indicated that there was indeed a need here. What you need A shop (or actually a store front) where you can display your videos and your sign post. You can share a shop with a friend.   You just need a staff to register all videos available, register all your members, register videos that people borrow etc. Type of Videos: This is a tricky one. From looking at those shops in my area, I see that they have more of Yoruba Videos.   I live in Lagos Nigeria, if you live in any other locality, find movies in the local language. Also have a co

Introduction This is really an interesting business if you look closely. I didn’t quite realize it until one day the man that runs the small kiosk near my house gave me my bill. Well I had been taking stuff from him on credit for over a month and he then billed me.  The bill didn’t come as a surprise to me but what did was the amount on the bill – N 5,500! How did only me consume that much in a month on just little things? I couldn’t believe it until he showed me his record and then I realized something, this guy was making money! How many other people staying around me consume that much? What you need Starting this type of business is very easy. You only need to find a space in your neighborhood that you can use as a shop. In choosing your shop or kiosk, make sure there not more than two shops on the street. Getting Customers You don’t need even to do any type of advertising, just open your shop and display your products! Product Selection You need to be very careful here. Take

Introduction If you are in Nigeria, this is a business that can easily make you NGN350,000 (USD2,334) per month although it requires a considerable amount of capital. What you need The Dump Truck  A good Dump truck (faily used) starts from NGN7Million  (USD47,000) but its usually cheaper if you buy from outside Nigeria. My friend Mr Mike Edo who is into the business has a business partner in Spain who buys these trucks and sends them down to Nigeria. He is available if you are interested in getting a good truck. If you decide to buy it in parts that is, buy the Head first and then the bucket later, the head alone costs about NGN4Million (USD27,000). You can also import them at cheaper rates. The Tipper Bucket  (the back portion) costs about NGN2.5Million (USD17,000) to construct and install but NGN36,000 (USD240) to rent for a day in the eastern part of Nigeria. Business Structure  According to my friend, the business is simpl e, get your truck, lease it to a constructio

Introduction I was visiting a friend who makes cakes the other day and I saw a very beautiful Cake she made with the Arsenal Football Logo as a big design on the cake. I was really impressed with how it looked and I asked her how she got the design so well. She showed her design stencil and guess what, she bought it for NGN1,500 ($10)!. Can you imagine that? I mean I cut that design myself! Description  Finished Design Stencil   Manchester United Logo on Cake  The business part of this is simple. I made some enquiries and I found out that you could find more Popular logos and designs, cut them really well on stencil material and sell them to people who make cakes,make banners, screen printers etc Profiting Estimate Seriously, you the profits here can be insane!, you use a stencil or two (less than $1), about 1hr of your time for very delicate designs, and you go home with about $10!. Multiply that by 10 in a month and you don’t even work every day. What you ne

Introduction Website design is simply the process of creating websites for people and getting the websites live, online. As a business, it costs very little to learn and start. You can learn on your own free of charge. Free tutorials are available here In the business, you could get paid from NGN10k to NGN100M depending on the extent the website required and your clientele. There are generally two approaches to the business. You could (A) Design websites for cash and or (B) Design websites to address needs or solve problems Lets look closely at both approaches (A) Designing websites for Cash This is the most popular form of this business. You find your clients, design sites for them and then you get paid. What you need - Get a Computer A laptop preferably. This is because you will have to make presentations. A fairly used one here in Lagos Nigeria goes for about NGN60k. - A Business Profile Prepare a company profile. This just a document introducing you to anybody. It should say who