Learning Hub For Business Minds

Hi everyone,

I know its been a while, apologies to everyone for the silence.
Well, we are back and fully loaded.
So, let's get you loaded.

Here's what we have;
1. Learn how to sell in Ghana and Kenya without sending or buying a product
2. Learn how to earn in car tracker installation
3. Learn how to earn in dollars $$$ from being a freelancer taking a day to a month job of $500-$1,000
4. Learn to hooks of affiliate marketing

If you are interested, do not hesitate to reach out to me via the link
https://wa.link/be7fh9

Back to our business plan.
Let's drive straight into. Our last discussion was business description. Today, will be market analysis.

Most business owners or want to be owners voluntarily or involuntarily ignore this step. You around the street and you notice two stores selling identical products and worst of it they a store or store away from each other.

Let's use this as an example, you have a plan to open provision store within your home location, now during your business plan where you required to make a market analysis.

First, who sells what I want to sell? How do they sell? What are their prices? What are the quality of their product? What is their presence like in the market? What is the difference in their customer base for the last 2-3 months?

Secondly, is the market favourable? Are my products acceptable? Are my products safe? What location best suits? What strategy beats my competitors (price strategy, quality strategy, sales strategy, promotional strategy)?

Once, this questions have been answered. This phase of your business plan is done.

Example of a market analysis write-up;
In Lagos market, there are numerous competitors already in the same market segment I intend to venture. Meanwhile, after a good market survey using adesina store and bisola store as my competitors. They have the strength of market presence, as they are well known and have attracted a great number of customers. As for their weak spot, they have a challenge in their prices as they relatively high compared to my source of product which would make mine cheaper. Therefore, this serves as an opportunity to implement price and promotional strategy into my business. It looks like the business would be success but there is a risk to note, if my presence and strategy is noticed their strategy to retain their customer could improve. Leaving my business open to other arising threats. Nevertheless, every business has one risk or other to deal with. We believe our business will prosper through the waves of the market.

What if you could...
*Be available for your children and family whenever you needed or wanted to

*Say goodbye to a stressful 9-5 for good

*Gain complete flexibility and freedom over your time

*Stop worrying about money by bringing extra income to your household

There are so many what if! But taking a chance flexibly benefit from it, is on another level.

Your tutor is going to be teaching you from experience.

Click the link in the description/comment box.

https://wa.link/mzha7h

Good morning family, heading back to our lecture how to write a business plan.
On Monday we spoke about executive summary. Today, we will be discussing on company or business description.

This might sound simple, but when it comes to pen down this description we tend to mix things up.

To describe your company answer this question:
1. What problem does my product solve?
2. Who do I want to selling my product to? The men, or women or children or athlete or market sellers....
3. What is your competitive advantage or what makes your business better? Is it you price? Your location? Your product quality?

Example:
The A company is a fast growing business established to meet the needs of our environment as it lacks access to water. The supply of water has been scare in our community, therefore providing clean water for healthy living is our priority. To sell our products or make it available to our consumer, we have marked our target audience as all gender within any age bracket who needs water.
In every business, there is always a competition. Nevertheless, A company has strategically positioned itself to having an advantage over every other competition by making our products more affordable and offering better quality of water treatment.

Good morning family, hope your weekend was great.
Last week recap: What is business Plan? Why do you need a business plan? And how to present your business plan?... Read previous post if you missed any of this.

This week, we will be exploring how to write a business plan without paying for it. Yes, paying for it! Writing business plan is a knowledge few people are confident about. Let's dive into it.

The first stage is called EXECUTIVE SUMMARY. Before explaining what executive summary or before you start writing an executive summary bullet point the information you must have to write it.
1. What is your mission statement?
2. What are your products and services?
3. What type of legal structure is your business using? Partnership or propietorship
4. What's the number of staff you intend to hire or have already?
5. Your business location
6. What is your financial plans with funds? If given.

If you can answer all this questions you have successfully completed 90% of your summary and business plan. Therefore, an Executive Summary is a few write up sentences that informs your reader (bank, business partner, investor and others) about your business and why it would be a success.

Example;
Global ventures is partnership corporation established to meet the demands for food and water in rural areas of the western part of Nigeria. Our mission is make sure that communities have full access to water and food through our facilities. The success of the business is feasible as we have designed strategic plans to implement to meet the success demand of this business.
Meanwhile, our products and service are a, b, c, d, e, and f. These products are managed, controlled and served to customers by our 10 capable staff and we seeking more hands. The business is situated at the heart of the community of Ogun state.
To expand or kickstart this business, we have made a feasibility study on making profits. We will be needing the sum of ..... to purchase necessary facility equipments to startup. This will be properly broken-down in the business plan.

Good morning everyone, hope your night was great.
Alright, let's dive into today's business gist. Yesterday, we gave an insights to why business plans are important.
As for today, let's know how many knows how to write a business plan and how to present a business plan.

While taking an advantage of the holiday season, I came across a Nollywood movie about couple.
The wife was sick of being just a housewife. So, she got an idea of starting up a boutique.
Later that day, she got the time to discuss her idea with the husband and this goes the conversation.
Conversation:

Wife: Honey I want to start a business
Husband: beautiful, that's nice what type of business do you wish to start ?
Wife: a boutique
Husband: Hmmm alright, so how much are we talking about here
Wife: N4 million
Husband: okay, that won't be a problem. There's one thing missing, you need to write a business plan.
Wife: Huh! What do you mean business plan? What do I need a business plan for?
Husband: A business idea is just an idea, meanwhile a business plan is the life of the business even if it's an online or store business.

End conversion

What is a Business plan?
A business plan is also a road map that provides instructions for a company's future planning and helps it avoid roadblocks. The work you put into creating a complete and precise business plan, as well as keeping it up to date, is an investment that will pay off well in the long run.

Meanwhile, we need to know why we need a business plan?
https://www.growthink.com/content/20-reasons-why-you-need-business-plan

Click the link above to learn more.