ENTREPRENEURIAL TIPS- TIPS FOR BUSINESS GROWTH

                                             

World domination is the dream of most startup entrepreneurs. The dream to attain a level whereby billions of people use your product around the world.

However, attaining this level  requires constant growth.

                                

 NEED FREE CONSULTANCY ON HOW TO GROW YOUR BUSINESS?

click here 

 

Growth in business is not really about “hitting it big” but about developing the right processes. The best type of growth any business can have is one that is carefully thought through and planned out. Growing too fast without proper planning is likely to harm or even destroy a business. 

                                          

When businesses expand too fast, the quality of service often drops ,which can have a negative impact on the reputation of the brand.

Before undertaking major growth initiatives, an entrepreneur needs to understand the future of that particular industry.

There are several ways to grow businesses but choosing the suitable one(s) will depend on the type of business you run and the resources (time and money) available to be invested.

Here are some tips that can help the growth of your business:

v Diversify your business – Diversification of your business allows you to have multiple streams of income that can fill seasonal voids in your business and thereby increasing your profit margin. An example is by going into sales of complementary products or service in your line of business.

v Target a new market – Even though your current market is serving you well, determine other markets that could use your product . Expanding by opening a new location is also a good way.

v Get your company registered and your product licensed.

v A great way to expand quickly is by forming an alliance with a similar type of business. 

v Win a government contract – Usually, having the government as your customer is one of the best ways to grow your business.

v Expand to the internet – Having a heavy web presence is an integral part in today’s  business environment. A lot of times, customers discover businesses through online search engines. To maximize your exposure, ensure that your business has a heavy online presence.

Indirectly, your business has gone global

Hope this article was helpful.

 NEED FREE CONSULTANCY ON HOW TO GROW YOUR BUSINESS?

click here 

 

ENTREPRENEURIAL TIPS - NETWORKING TO GET AHEAD

         

Someone smart once said, the opposite of "networking" is "NOT WORKING.

 It’s important to network thoughtfully and effectively. To be the best at what you do, you need to surround yourself with people who inspire you, who motivate you, and who challenge you. 

          

People who ask you difficult questions and provide honest feedback. Networking is the practice of intentionally seeking out these people. Your personal network is your resource — it’s just as tangible and necessary as your technical skills. 
Let’s go over some of the important, necessary networking skills. 

  

First, just be open to meeting new people, listening to new ideas, and engaging with people outside of your specific business or industry. Be authentic in how you present yourself and your business. Networking requires a genuine interest in others. They deserve your respect and your attention. Be a good listener for common goals and interests and establish useful relationships. Be punctual and respect how much time your contacts are able to give you. Be proactive and conduct research on the individual, the employer or the industry with whom you would like to connect.

                   

Here are some ways to develop your network:

1. Reach out to friends, family members and alumni - they are a rich pool of people with connections.
2. Seek to connect with people informally at conferences and meetings or at  formal networking events. Begin your conversation with what you know about the person, or the organization, talk about your common interests, and build your conversation from there. Let them know how you possibly can help them.
3. Make connections through social media such as Linkedin. 
4. When you communicate with people through face to face interviews, over the phone or through skype or some other system, be prepared with questions. Use the internet if you have access, choose and adapt questions that will be personally and culturally relevant to you. if a chance meeting offers you an opportunity, ask for contact information and a business card.
5. Reciprocate - be a resource for those in your network. Your network is built over time because all connections you make become part of your personal and professional network. 

Think of your network as something that is alive and requires your time and attention to stay healthy and relevant.

Here are some ideas on how to maintain your network:

1. Reach out to your contacts when something reminds you of them. Let them know you are thinking about their needs and not just what they can do for you. This will help you build a strong foundation for a continued relationship. 

   Send along occasional updates or interesting relevant information about yourself .

   Reach out to your contact in advance of coordinated job searches. Send your resume and the job description to the position that you are applying. Keep your contact informed about the outcome and write them a thank-you note if they in any way help.Remember what you talked about with your contacts when you met them. A good way to remember is to write quick notes on their business card. 

   Be sure to follow up with a new contact within 24 to 48 hours. If your contact connects you to a valuable resource, please let that person know what happened as a result of this connection. Be sure to thank both of them. 

   In conclusion, you need to understand that networking is an ongoing process, not a discrete event. success comes from continuously making new contacts, following up and keeping in touch.

.
Kindly drop a comment if this article was helpful.
 click here to get free consultancy on how to grow your business
Follow @ibadanslayers on instagram

ENTREPRENEURS' WATCH- MEME AMETHYST EDITION

              
On "Entrepreneurs' watch" this week, our focus is Miss Adebayo Adetoun @mz_amethyst .
A graduate of Ladoke Akintola  University of Techology, Ogbomoso where she studied food science.
She is the creative director of Meme Amethyst Interiors, Events and souvenirs ( @meme_amethyst_interior ).
The enterprising lady had an interesting session with the Ibadanslayers team where she shared with us her journey in the entrepreneurial world so far.

                  

HAVE YOU ALWAYS BEEN INTERESTED IN DESIGNING?
  Yes I have, I have always had flair for beauty and creativity.

COULD YOU PLEASE DIFFERENTIATE BETWEEN INTERIOR DESIGNING AND INTERIOR DECORATION ?

Interior design is the art and science of understanding people's behavior to create functional spaces within a building. Decoration is the furnishing or adorning of a space with fashionable or beautiful things. In short, interior designers may decorate, but decorators do not design..
      
IN YOUR OPINION, WHAT ARE THE SKILLS NEEDED TO BE AN INTERIOR DECORATOR?
Creativity, imagination ,artistic flair,good communication and listening skills, good colour sense and an eye for detail.

WHAT ARE THE COUPLE OF QUESTIONS YOU WOULD ASK TO DISCOVER YOUR CLIENT'S TASTE?
  What's your choice of colour?
What do you love most in a room?  and Do you have a favorite look or style that you want to create?” First,  address the reason, understand such customers taste and painstakingly deliver till the client is satisfied.

WHEN DESIGNING,  WHAT'S THE MOST IMPORTANT FACTOR TO YOU?

Customer satisfaction 💯

          
HOW WOULD YOU HANDLE A SITUATION WHERE A CLIENT KEPT REJECTING ALL YOUR DESIGNS?
     First, address the reason, understand such customers taste and painstakingly deliver till the client is satisfied.Patience is virtue... find a  comfort zone of the client and I'd keep trying .
Also researching on wat changed & make the best out of it by bridging the gap through innovations & creation of new idea.
          
AS AN INDIVIDUAL INTERIOR DESIGNER, WHICH KIND OF FIRMS CAN YOU PUT YOUR SKILLS TO GOOD USE?
   architectural firms and construction companies;interior design companies;exhibition centres and events management.
           
WHAT DO YOU LOVE MOST ABOUT IBADAN ?
   The serenity .

WHAT ARE THE MAJOR CHALLENGES FACED IN YOUR LINE OF WORK?
  Fussy clients,increased competition for jobs

ANY ADVICE FOR
ASPIRING INTERIOR DESIGNERS? 
@meme_amethyst_interior : Be you, be free, when you  fall stand up tall. Never give up.
.
.
.
The #ibadanslayers team appreciates the CEO @meme_amethyst_interior for this enlightening and amazing session.
God continue to bless your work.
Keep repping Ibadan beautifully 😘😘

ENTREPRENEURIAL TIPS

   RAISING CAPITAL FOR YOUR BUSINESS          

Peradventure, one of the most common questions asked by new entrepreneurs is “How do I raise capital?”.  What a lot of entrepreneurs fail to realize is that when your business is ready, it is actually not that difficult to raise capital. But if your business is not ready, then it can be almost uncertain.

Before one starts to raise capital, there is a need to understand the different types of capital that may be available to your business.

                        

               

• FAMILY AND FRIENDS : If all you have is an idea, but you are yet to build a product or have any real usage that can validate your business model, then you are likely looking for friends and family to invest in you. The only reason they are going to invest in you is because they believe in you as a result of prior experiences with you.

             You would really need to hold up that trust they have in you by using their money judiciously.

                              

• SEED INVESTORS : Seed investors may be professionals who invest and help their investments to succeed or people with another full time occupation whose passion is investing in startups.

If you have a product or at least a working prototype and strong evidence that your product will be used and ideally paid for by customers, then you could approach seed investors.  

A seed investor needs to see more than just an idea, but not fully developed business.

• VENTURE CAPITAL: This is the type of capital raise that’s dreamt about by most entrepreneurs. This type of capital comes from firms/ groups of professionals that specialize in finding promising companies that are ready to grow rapidly make investments in such companies, and often over a number of years help them grow as fast as possible.

                     
         These type of investors usually need to see a mature product and compelling facts that you have a great way to make lots of money and grow very quickly.

Other types of capital that might work for you include:

1. crowdfunding sites like kickstarter

2. Loans from banks. 

In conclusion, connecting with the right investors require weeks or even months of painstaking practice.

Wish you all the best in your entrepreneurial journey.

P.S – Kindly drop a comment if this article was helpful.

ENTREPRENEURS' WATCH - EXQUISITE LA'DIVA EDITION

CHOOSE A JOB THAT YOU LIKE AND YOU WILL NEVER HAVE TO WORK A DAY IN YOUR LIFE.
          

This week's edition of Entrepreneurs' watch is focused on another of the city's budding entrepreneurs,
Miss Sunmonu Lateefat Olaronke (@exquisite_ladiva )CEO La'diva makeup and bridal hair.
Born into a family of five and hails from Imeko, Ogun State.
The beautiful diva is an all-round artist and a graduate of anthropology from the University of Ibadan.
The Ibadanslayers team had a wonderful exclusive session with her, where she expressed her views about the beauty industry amongst other things. Enjoy.
                    

WHAT LED YOU TO BECOMING A MAKEUP ARTIST?
@exquisite_ladiva : I used to paint on canvas and cardboard back then in secondary school. And when I discovered my passion for beauty,  I thought I should try my painting on humans and see what happens. And I am happy it's becoming interesting as each day unfolds.


  IF A CLIENT ASKS FOR A STYLE THAT YOU ARE SURE WOULD NOT SUIT THEM, HOW DO YOU CONVINCE THEM TO GO OTHERWISE?
@exquisite_ladiva : I try to convince my clients to get what suit their faces. And if you insist,  I'll definitely do what you want. After all, nobody feels sad after La'diva's touch. So you can be sure I'll make the makeup suit your face and personality. And you will surely love it.
   
           

WHAT ARE SOME OF YOUR MOST MEMORABLE MOMENTS THUS FAR?
@exquisite_ladiva : My first award as a child made me really proud of myself, I was only 7, and the second one as an adolescent. The memory is evergreen. I remember that day back then in school. I was extremely happy, and I am still very happy.

                                     
IN YOUR OPINION, WHAT ARE SOME OF THE BIGGEST CHALLENGES FACED BY MAKEUP ARTISTS?
@exquisite_ladiva : Fake products (even some of the so called recognized stores can't be trusted when it comes to fake products). Some clients are impatient.
Half-baked makeup Artists are a big problem. Like a client once told me she has someone that is willing to do her wedding makeup at a ridiculous amount I won't like to mention.

FROM YOUR PERSPECTIVE, WHAT'S THE ATTITUDE OF IBADAN RESIDENTS TOWARDS INDIGENOUS BRANDS?
@exquisite_ladiva :  Ibadan is a good place for business. The residents are encouraging and supportive. Just that some people are prudent, and they price too hard.
           
WHERE DO YOU SEE YOUR BRAND IN 5 TO 10 YEARS?
@exquisite_ladiva : In five years to come,  I hope to be a world class beauty artist. .

       
ANY ADVICE FOR ASPIRING MAKEUP ARTISTS?
@exquisite_ladiva Be focused,  consistent, do not feel intimidated,  never let yourself be affected by negativities, be optimistic,  be creative,  be smart, and above all be prayerful.

Our heartfelt gratitude to exquisite la'diva boss,  keep being awesome. 

Keep repping Ibadan city 

Ps- 

Don't forget to vote "ibadanslayers" in the "wedding social media handle of the "Ibadan Wedding Awards 2017 " Follow link below 

http://whatsupibadan.com/?p=21868

Voting ibadan wedding awards 2017

Need inspiring and awesome interior decor? Contact Meme Amethyst Interiors 

Follow @meme_amethyst_interior on Instagram: 

Entrepreneurs' watch - IroyalCocina Edition

 This week's edition of entrepreneurs' watch is focused on another of Ibadan city's finest entrepreneurs. A young woman who has carved a niche for herself in the baking world amongst other ventures.
Ibadanslayers had a wonderful session with her and we are sure you will gain one or two tips from this week's edition. Enjoy.

Ibadanslayers: Can we meet you?

Iroyal:  My name is Ifeoluwapo Opajobi. I am the CEO/Creative Director of iRoyal Cocina which specializes in Cakes, bartending services(cocktails & mocktails), finger foods, desserts & grills for events.
            
Ibadanslayers: Could you please share with us the most critical talent you possess in your role as a business owner?

Iroyal: The most critical talent I possess as a business owner is the act of business management. The ability to manage my business perfectly despite any obstacles or hindrances that come my way.
              
Ibadanslayers: When you started out in this business, what was the process of financing like?
Iroyal:  When I started my business, financing the business wasn't easy at all for me because I had just completed my service year and you know a typical nigerian youth at that level wouldn't even have much savings as a result of the Nigerian NYSC monthly "low income". So I just had to start with the very little I had saved up to buy the basic tools and equipment to get me started in the business.

Ibadanslayers: What are some of the biggest lessons that have impacted the way you work?

Iroyal: Well....some of the biggest lessons that have impacted my business and helped me a lot so far and is still helping me are, the lessons of "putting God first in every job", "always giving a client more than what they ask", "treating every client like a King" and "giving clients the wow factor that always make them come back for more".
            

Ibadanslayers: If you were to do some venture again, what would you differently?
                 
Iroyal: Hmmm, what I'll do differently if I was to venture again. If I'm going to venture into business again, I'll start off in a much better way and I'll make sure I double the efforts I started off with previously.
Ibadanslayer: What has been your most satisfying moment in business?
Iroyal:
My most satisfying moment in business, lol. Nothing is more satisfying than getting 100% positive feedback from a client, I mean that's just the definition of fulfilment in business to me.

Ibadanslayers: Any challenges faced as an Ibadan based entrepreneur?

Iroyal: Of course there are challenges I've faced as an Ibadan entrepreneur. You find situations where a client has a classy taste and knows you're good enough to deliver then comes at you with ridiculous prices just because they feel "this is Ibadan now, things ain't usually expensive here", like who does that? But the beauty of it is that Ibadan is taking a new turn and people are beginning to have broadened vision to be able to see that what we have here in our city can not be compared or underrated and the people who know the worth of what we carry and deliver, respect it and treat us right.
Ibadanslayers: In your opinion, what are the top three qualities needed to be a successful entrepreneur in Ibadan?

Iroyal:  In my opinion, the top three qualities needed to be a successful entrepreneur in Ibadan are Passion, Consistency & Hardwork.
Ibadanslayers: Where do you see your business in the next five years?

Iroyal:  Hmmm that's a big one. Well....in the next five years, I see iRoyal Cocina as one of the leading brands in Nigeria.
           
Ibadanslayers: Any word of advice to budding entrepreneurs out there?
 Iroyal:My advice to budding entrepreneurs is, "Fall in love with your business, be consistent. The bad days will come, yes you can't help it and you just have to be determined within you about what you want for your life and where you're headed. Have someone who has been in the business for long as a mentor to guide you and direct you when you get stuck. Just be unique and do you, there is enough room for you in the sky to spread your wings so just keep spreading them. The world awaits you"

A big thank you to the amiable CEO of Iroyalcocina for the amazing session.
Keep soaring!
Keep repping Ibadan city!

Ps- Don't forget to drop a comment 💋💋
Follow @ibadanslayers on Instagram

Entrepreneurs' Watch - Wole Sawe Edition

Successful business owners of privately held companies are like your favourite pair of shoes- they are worn, torn and experienced at handling things. The wisdom and success they have accrued will have come through hardwork and some tough lessons.
Having the opportunity to receive some real life tips on how they attained their success can be invaluable.
That's why the first edition of " Entrepreneurs' watch " for 2017 is focused on one of Ibadan's foremost entrepreneurs, Mr. Wole Sawe ( @wolesawe) of @xquisitushers.
Ibadanslayers had an exclusive interview with this awesome entrepreneur.
Enjoy reading.....

Q:  Can you tell us a little about you and your business?
Wolesawe:  My name is Wole Sawe, a graduate of Guidance and Counseling from the University of Ibadan. I run Xquisit management concepts which is specialise in events and Ushering management. I am a brand and events strategist, i plan & coordinate events and also consult for people and brands

Q: When you started out in the business, what specific idea, purpose or vision was your key driving force?   WoleSawe: Xquisit was born out of a vision to be an added value to lives and also help the unemployment rate in the country by providing weekly job service to young people.

Q: Were there any key incidents or life-changing events that inspired your decision to become an entrepreneur?   WoleSawe: Nahh really,  I've always had passion for doing things on my own which made me an enterprising person since I was young  till date

Q:  How would you describe your entrepreneurial journey so far?
WoleSawe: So far, it's been fulfilling, I enjoy what I do and I've never had any regret.

Q: Other than deciding to work for yourself, what was the single most important decision you made that contributed to your success?
WoleSawe:  I made up my mind to create job opportunities and add values to lives and brands. It has always been what I wanted to do, that's what contributed to my success.

Q: What's an average workday like for you?
WoleSawe: Most times, its critical thinking on how to grow the business and being an added value to people I meet and where I go to.

Q: What would you describe as your major setbacks and what lessons did you pick from them?
WoleSawe: To be candid, none. Although I really don't like the way things are going in the sector . We work with a lot of ladies at the agency ,  they come, steal your ideas and pitch it to other agencies.  I am not actually moved about it though, because I'm original and photocopy ko easy ✌✌. For me, its a challenge/ competition and I like it.


Q: Most outstanding accomplishments so far in the context of your business? WoleSawe: Hmm... I will say the title of my awards "most outstanding"  I was awarded one of the Ten (10) outstanding young persons (TOYP) in Nigeria by JCI International and also The most Outstanding youth in Oyo State by Screams Award . In terms of events, we have worked with big brands, event planners and top government officials both within and outside the country.

Q: What are the three pieces of advice you would offer entrepreneurs starting out today?
WoleSawe: Using myself as an example,  Entrepreneurs starting out need to have these three things: The number one thing is prayer,  second is hardwork, third is consistency

Q: Any questions you expected to be asked in the course of this interview that didn't come up? Pls share with us.   WoleSawe: I like when people ask, where do you see yourself in two or three years? How do you intend to give back to the society?   For my giving back, we are having an audition very soon, about 150 people have applied, I am happy and at the same time unhappy about it. I wonder if about 150 people actually need the job, its sad that we dont have the capacity to accommodate such a large number due to the already number of 150 ushers we have been working with.  We would probably have to empower some people, We liaise with brands to train those who don't get picked for free and we are hoping alot of entrepreneurs in the city would partner with us on this.