It’s somehow difficult to be a successful Nigerian part-time entrepreneur considering the scope and environment but determination brings success. I never identified myself as an entrepreneur. Maybe that was why I went broke so quickly when I started my business.
I did not see myself as a risk taker, or creative as a business owner. I didn’t envision the long-term. I let my small business make me small-minded. The way my country (Nigeria) was going made me to start thinking of ways to increase cash flow because I knew that it will get to a stage where my salary won’t be enough for me, so I started my business. If you’re just starting out and you’re thinking, Gosh, I’d love to follow my passion-hopefully things will turn out well and I will make enough money.
Let me be truthful with you, in business, things don’t always go as planned.
Passion Don’t Grow Business
I know you must have been told that, you need to follow your passion and start a business from it. I see so many online coaches preaching about turning your passion to profit. Brethren, hear this and receive sense. Passion don’t make you succeed in business, it only make you endure (did I get a yes?) With the economic slowdown happening in the country, many small businesses are being challenge to close down. Some Nigerians are thinking of starting a part-time business due to the economic crisis but are not just sure of the right steps to take.
I received a mail on a certain Tuesday morning, as I check my gmail to see if I have any message which is my morning routine. I got a message from someone I don’t know, I won’t mention name.
Here was the message;
I want to start a part-time business right now though I am currently working full-time on a job.
I am planning on opening a dry-cleaning business in my area but I want to do it part-time till I start getting customers that will make me enough money to go full-time . I have done my research sir and have come to a conclusion that it’s going to be successful.
But sir, the issue is that, I don’t have the money needed to fuel this business and it’s killing me so hard. The country just gets as e b. My salary is not even encouraging matters at all. And it will take me long time to save before I can be able to fund this business.
Please sir, I need your advice on what to do. I will be very happy to get a reply from you irrespective your busy schedule.
It took me about 25 minutes to give him a reply to his question. So, as I was thinking of writing a post today, I then went back to the message and thought of sharing it with you. Like I said, it took me around 25 minutes to compile an answer to him. So if you’re in the same position (though not laundry business), please read and get wisdom. Let’s go…..
What you need first to succeed in your part-time business in Nigeria is;
1. A business strategy,
Note! I did not say a business plan, I said a business strategy. You only write a business plan when you intend selling your business in the future. And even if you disagree to that, tell me how many entrepreneurs stick to their business plan? When I started my business, I did not write a business plan because the business world is changing at a fast rate and your business must follow the trend. I wrote a business strategy.
Here is what is containing in a business strategy;
- * How you intend marketing your business (you should prepare different marketing strategy).
- * Your location for the business.
- * Will you need a helping hand?
- * What is the first or most important thing or equipment you need that you must purchase to start this business?
- * Who are your customers?
- * How will you attract them?
- * How much do you intend charging them?
- * Where can you find them, and so many other things you need to consider?
So if you intend matching forward to start a successful part-time business, you must have a business strategy. Draw you mode of operation. I mean how you intend to operate your business. Not until I wrote down my mode of operation, clients were giving me their own terms as if we started the business together.
2. Read books
Entrepreneurs are readers. Warren Buffet, Bill Gate and even Aliko Dangote still read books irrespective of the money they have made. You want to start a part-time business and you’re thinking you don’t need to read because it’s just a part-time business or you don’t have time. Sometimes, some of the problem we are facing in our business today has been solved and written in a book because someone first experienced it. Buy business books and read. Take advantage of the internet, there are so many free PDF books you can download on the internet.
Read books. That way you can get the solution to a problem before it even comes. Read at least one book in a month on the area you are having problem on or you need clarity on.
3. Build a team
No men ever start a battle and win it alone. He must have had some assistance from their persons. You need a team if you want to grow faster. Not just anybody, but good members that share the same vision as you. A team will help you promote the business when you’re busy with important things.Having a team makes you focus on how you can grow the business. And remember it is a part-time business. So someone has to attend to customers, answer customer’s calls, do the accounting, do manual work and so on.
You can’t do this yourself no matter how gifted you are. My writing business would have not been successful today if not for my team. I don’t know then physically but we get in touch and we do share the company’s vision.
Hmm. To be successful in Nigeria as a part-time entrepreneur, and then go prepare your business strategy, buy a book on business and read, start searching for partners (team members).
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