TEN RULES FOR BUSINESS SUCCESS

TEN RULES FOR BUSINESS SUCCESS
BASOLA A. VICTOR

1. Find a human need and meet it. It is the surest path to wealth. Meeting that need should fall in line with your passion. Only passion, true passion can give you the needed drive to overcome the hurdles on your path to wealth and success.

2. Always Sharpen your Axe (Increase your ability to earn). You will be paid in proportion to how much you know and the application of what you know to solving people’s problems.

3. Learn everything you need to set sail in your business. It saves time and money

4. Value and always SATISFY your Customer, without them you have no business.

5. Have a Business Plan no matter how small you intend to start. Only a Mud House is built without a Plan and I believe that’s not the kind of Business you are grooming.

6. Always give good and quality goods and services to your customers; else they won’t come back and they will tell people who will tell more people about your low quality products and Vice versa. Quality speaks volumes and your customers will become your mobile adverts.

7. You don’t wan to start with credit facilities that will tie down your capital and cripple you from the outset.

8. Shout it loud and tell more people about your business. Marketing can never be too much for your business.

9. Seek new ways to improve your business idea. Men needs new ways of doing things, Fascinate them and they will keep coming.
10.Do not use your business to keep unskilled family members engaged; else they will turn your business into family meeting.
Till we meet again, Go be the solution to your World.

About The Author

Basola A. Victor is a Marketing Expert and a Business Consultant. He is the CEO of BASH Concepts International, a Business Solutions Firm dedicated to becoming a one stop source for overall Business Development.

For your Questions and Enquiries Contact;
Phone +234 (0)703521346, 08078957783
Email bashconcepts@yahoo.com

HOW TO WRITE A WINNING BUSINESS PLAN

HOW TO WRITE A WINNING BUSINESS PLAN
BASOLA A. VICTOR

If you fail to plan, you are on your sure path to failure……
Before you start any Business of whatsoever magnitude, no matter how small/big it might seem, you have to get it right from the first brick, else you are setting up an already collapsed building. Only a mud house is built without plan and I believe that’s not the kind of Business you are grooming.

A Business plan is a working plan that describes the fundamentals of your Business Idea and provides the fundamentals of your Business idea and provides financial data to show that you will make “good money”. Whether you are trying to attract investors or you are creating a blue print for your own use. Your business plan must be workable and appealing.
A winning business plan follows (but not limited to) the following procedure;

1. A statement of the purpose of the business (mission and Vision statement)

2. A detailed description of how the business will work; including what your product or service will be; whether you will have employees, who will supply the necessary raw materials and where you will best be located.

3. An analysis of your market, that is who your customers will be and a description of your Marketing Strategy (How your Business will reach plenty of customers) and fend off possible competitors.

4. An evaluation of your main Competitors and your competitive profile. Stress the advantage of price, quality, warranties, service and distribution. Include your Operational and Management strength.

5. A Resume setting forth your personal Accomplishment or that of your management team.

In the eyes of the investors, the quality of the management team often determines the potential success of the company or success. Consequently, this section should cover career highlights, accomplishments and positions held, with an emphasis on good performance records. Describe how the ream has worked together in the past and include their resume.

6. A detailed financial information including your best estimates of your startup cost, revenue, expenses and above all, your “ABILITY TO MAKE PROFIT”.

7. A persuasive request for funds (if you need external aid)

Finally, every part of your Business plan should reveal the beauty of your business idea. You want to show potential lenders, investors or people you want to work with that you have hit upon a product or service that customers really want.
Never you “Start a Business Without A Business Plan.
Till we meet again, Go be the solution to your world.

About The Author
Basola A. Victor is a Marketing Expert and a Business Consultant. He is the CEO of BASH Concepts International, a Business Solutions Firm dedicated to becoming a one stop source for overall Business Development.
For your Questions and Enquiries Contact;
Phone +234 (0)703521346, 08078957783
Email bashconcepts@yahoo.com

WHY MOST NIGERIAN BUSINESSES FAIL

WHY MOST NIGERIAN BUSINESSES FAIL

Basola A. Victor

Good day readers, I hope you have been enjoying this column and you are most importantly applying the principles that pertain to your growth and success.
Today we will be looking at a very pressing issue; Why most Nigerian Businesses Fail. Why are most Entrepreneurs and companies folding up, what is it that they are not doing right?
No one actually starts a Business to fail. Successes is just a matter of doing the right thing at the right time and if your Business is not going as well as you probably want, you will want to run through these reasons and make amends where necessary.

1. LACK OF VISION

Most young and aspiring Entrepreneurs do not see beyond their nose. They are probably concerned about the now the profit they are making now. A Vision is your Dream, Goal and Plan for your Business for a span of 10, 20, to 50 years.
Are you building a Business that will outlive you or are you building a Sole Proprietorship. As we all know, sole proprietorships die after the demise of the Proprietor.
A good and exciting Vision for your company will bring you to the drawing board to plan ahead. Like I always tell my Clients, Only a Mud House is Built without a Business Plan. People do not buy neither do they inherit mud houses, they are usually demolished when the owner is no more. I believe we have dealt with How to Write a Business Plan in previous editions of this column but you can contact me if you need help.

2. LOW QUALITY PRODUCTS

The quality of your product or service will speak for you long after the price is forgotten. If you try to compromise the quality of your product or service because of profit r quick cash, you are only succeeding in BURNING THE BRIDGE between you and your customers. If your product is good, your customers will sell them for you, but if is bad your same customers will spread the message and you will be out of business in no time.

3. POOR CUSTOMER SATISFACTION

The customer is the Boss; he can decide to Fire everyone including you by simply taking his Money elsewhere. Without the customer, you are out of business already. Never you get so proud as to think that you are doing your customer a favour by opening for Business. Make it a policy in your firm and hang it everywhere in your workplace that the customer is King. Any of your Staff that compromises this Policy shouldn’t be your Staff in the first place.
Whenever you are designing your product or service, it will do you a lot of good if you can sit down and find out what the customer really wants faster than your competition.
Amazingly, they can even help you provide the answer. Just give them a Survey Slip to fill when they patronize you.
An example is seen above. Pamper and spoil your customer, they are the life lines of any successful Business.

4. POOR MANAGEMENT AND SATFF POLICY

As an Entrepreneur, hire the best hands, though expensive, it pays off on the long run. Do not Hire Wheelbarrows who will need pushing all the time and will not move whenever you are not there.
Another thing you should endeavour to put in your Staff Policy is the Training and Retraining of your Staff to increase their competencies. Trainings on Customer Relations, Relationship management, Public Relations e.t.c must be made compulsory for all your Staff from your management staff to your Driver and even the Factory worker. Always hold Management Retreats with them and constantly SHARE WITH THEM THE VISION of your Company. See your Staff as Investors and Partners not as mere tools for achieving your goals.
As for Salaries, please and please Pay your Staff adequately well as the Budget permits. A wise man once said If you pay peanuts, you get monkeys. Remember, a satisfied Customer is a sign of a happy staff. That means Customer satisfaction begins with Staff satisfaction, how amazing.
Finally, do not use your Business to keep unskilled family members and Relatives busy else they will turn your Business into a Family Meeting.

5. INADEQUATE MARKETING AND ADVERTISING

Nothing happens until a sale takes place says Red Motley. It is the sale that initiates the entire production process. It activates Business and factories, provides jobs for the employees, pays salaries and wages, pays taxes and dividends and determines the entire direction for your business. How then can your products be sold if people do not know about it. Shout it loud, employ every means possible, use every means possible, use cheap Publicity, be in the news always and your products will fly

6. INACCURATE RECORD KEEPING SYSTEM

This is a major flaw of most young Entrepreneurs. Poor record keeping system. I would advice every Entrepreneur to study great firms and see the level of Record Keeping being employed. From staff prospectus to customer inventory, history and most importantly your Financial Records. You must document everything. The faintest pen is sharper than the sharpest Memory. If you are seeking external Financial aid, the first record you are asked is your Financial records. They want to see your profit and loss margin; so document everything.
Again pay yourself Salary also. This helps to separate you from your Business venture and keep your hands off the accounts.
A Chinese proverb once said no matter how far you have gone on the wrong road; once you discover turn back.

Till we meet again, Go be the solution to your World.

About The Author
Basola A. Victor is a Marketing Expert and a Business Consultant. He is the CEO of BASH Concepts International, a Business Solutions Firm dedicated to becoming a one stop source for overall Business Development.
For your Questions and Enquiries Contact;
Phone +234 (0)703521346, 08078957783
Email bashconcepts@yahoo.com

Ten Steps to Organizing Your Office By BASOLA A. VICTOR

Ten Steps to Organizing Your Office By BASOLA A. VICTOR

When you walk into your office, is it neat and clean? Can you easily find anything at a moment's notice? Can you hire a new employee and within two days have him/her know how your office operates and how to wok within the boundaries of your company philosophy?

Here is an organizational system that is very simple and easy to implement. It is a logically organized process guaranteed to make your life and career run better and easier. Ten steps will get your office organized.

1. List five benefits to you for becoming organized.

This helps you go through the pain of throwing away and it helps you get back on track when you slip- and we all do. If you do not know the benefits, don't even start- it will not work.

2. Schedule the date and time for your office organization.

It can take up to eight hours just to organized your desk, in-box and one file drawer. (It would only take me four hours because I am not emotionally attached to your stuff!) If you have lots of files and file cabinets, make a decision on how much you want to get done in the initial session. Once you begin, it is important that you don't stop until you've completed what you set out to accomplish.

3. Have your supplies ready.

You'll need plenty of trash bags, and a box for all the things you'll be donating to your favorite charity or shelter. You'll also need office supplies--basic army green hanging folders, labels, adhesive dots, colored hanging folders with file folders to match, and plastic sleeves for a three-ring binder.

4. Sit at your desk and totally empty it out. Pile everything up on top of the desk. Wipe out the drawers.

5. Move into your new desk by designing the following drawers:

Mechanical drawer--for pens, pencils, scissors, paper clips, glue sticks, etc. Paper drawer-- for post-em’s, note cards, envelopes, letterhead. The 1-31 drawer-- place 31 red hanging folders in this drawer with one dated folder for each day of the month in each hanging folder. Hot Project drawer-- for the projects you are currently working on. Personal drawer-- if you do not maintain an office at home, create a drawer for gum, mints, aspirin, comb, etc.

6. Arrange the 1-31 Drawer.

These files represent each day of the month. You will file your work under the day you plan on taking action for that item. Go through your piles of papers, one piece at a time. With each item, decide whether to throw it away, delegate it to someone else, file it, or put in you 1-31 files.

7. Create an information book. This book will contain all the information an assistant (even if you don't have one yet) would need to operate your office. Our information book includes data such as how to use the daily activity log, how to assemble press kits, what supplies we purchase and from whom. Think of this book as an operating manual for your office. Using it, a new assistant can be up to speed within days.

8. Take the time to put everything back in its place, or hire someone else to do it.

In my office, I don't file anything, I have one spot where I put materials I've worked with that day, then my assistant will file them in their appropriate place.

9. Reorganize your office often. Every three months the first year, and every six months thereafter for as long as you plan to run a successful business.

10. End each day with your office clean and organized. It only takes a few minutes, and the results are worth it.

It is possible to be successful in business and be totally disorganized! It's just more difficult. If you have read to this point, you are probably not satisfied with your current organizational habits, your business progress, or your stress level!

All three of these will improve drastically when you take the above ten steps. I've personally worked with clients who report doubling and even tripling their incomes as a result of this system. They redirect the time and the energy they formerly wasted digging through piles of paper. Now they focus on success. You will too. Much success to you-you deserve it!

5 Secrets of the Authentic Entrepreneur

5 Secrets of the Authentic Entrepreneur BY BASOLA A. VICTOR

In the past, words like "rebel," "driven," "controlling", "risk taker", and "Lone Ranger" were routinely used to describe entrepreneurs. These rare people who ventured out on the their own were viewed as ruthless business owners completely caught up in amassing wealth, much to the detriment of a personal life. Clearly, the image was shrouded in mystique and misperception.

Today there`s a new model of entrepreneur - an "Authentic Entrepreneur." This new breed of entrepreneur is successful because they realize that the dream of having security is simply that - a dream. They`ve discovered that real security is not financial, it is when they tap into their inner power to live purposely and to create a meaningful lifestyle, not just a business. These people are "Authentic Entrepreneurs."

Are You An authentic Entrepreneur?

Anyone can become an Authentic Entrepreneur. It`s all a matter of perspective. Here are the top five traits Authentic Entrepreneurs have in common.

Authentic Entrepreneurs are...

1. Visionary - The old entrepreneurial model was usually a rebel. These people wanted their freedom, wanted to do "it" their way, and believed they could do "it" better than anyone else. By that definition the Authentic Entrepreneur certainly is a rebel to some degree. However, Authentic Entrepreneurs are more visionary. They see the big picture, are prophetic, and have a broad view of the life and business they`re creating.

2. Creator of Destiny - Traditional entrepreneurs are creating businesses, which is a great motivator. But once the business is created, where do you go? What`s next? The Authentic Entrepreneur is moving toward a destiny. They`re inspired by something more expansive than they could possibly create on their own. They tap into their inner power and step confidently forward. They are able to keep going in spite of seemingly insurmountable obstacles. The right people, places and opportunities appear out of nowhere to help the Authentic Entrepreneur achieve their destiny.

3. Attractor - All entrepreneurs have a dream. Some have the desire to reach a clearly defined goal, while others simply want to be an entrepreneur first and foremost. They`re forcing the growth of their idea or business, orchestrating every event and creating more action steps than humanly possible to accomplish. They`re driven. On the other hand, Authentic Entrepreneurs are Attractors. They are magnetized by their strong focus toward their destiny. The right people, places and opportunities appear out of nowhere to help. When they take action, it`s inspired and efficient.

4. Fulfilled - Many traditional entrepreneurs aggressively achieve their dreams and grow very successful businesses, yet they never feel complete. Why? Because they haven`t taken the time to truly know what`s important to them and as a result, they`ve sacrificed their health, relationships, or personal needs to grow their business. The Authentic Entrepreneur creates their business from the inside out as self-aware individuals. They understand the importance of aligning core values with their beliefs and dreams to fulfill their destiny and themselves.

5. Inspirational - Many entrepreneurs choose not to have employees or associates on their payroll, working as Lone Rangers instead. Those who do usually aren`t good supervisors. They`d rather control every event and micromanage or not manage at all. The Authentic Entrepreneur knows the importance of team spirit and how to inspire people to blossom into their most creative and meaningful life expression. If the Authentic Entrepreneur isn`t adept at managing people, they know when to let go of that area of responsibility and bring in someone who has outstanding people skills. They understand that fulfilled people are more accommodating to clients and prospects, and happier in general. As a result, business blossoms.

Whether you currently are an entrepreneur or dream of becoming one, embracing the Authentic Entrepreneur traits has many advantages. You remove the traditional entrepreneurial stigmas and allow yourself more room for growth. So if you`re ready to step forward and declare that you desire to live a meaningful and wealthy life, then it`s time to make your move. Shift your perspective and become an Authentic Entrepreneur today.

What is Your Business Image?

What is Your Business Image? BY BASOLA A. VICTOR

What is your Business Image?
"Confident handshake, proper introductions, powerful speeches, effective meetings, aced interviews, high impact communication skills, stellar presentations, dining with finesse and impeccable dress" "Perception can be your worst enemy or your most valuable asset."
The french word "etiquette" is defined as LABEL. It is interesting that your social behavior can be your "label" or how people see you. "Incompetence can impact bottom-line profits of businesses and can hurt your chances for a promotion or being hired", says the author of Business Etiquette Mastery: The Power Of Executive Leadership. "Etiquette is not a "fluffy" practice, but a business building concept of putting human values back into the workplace.
Dale Carnegie stated that "85% of our success comes from possessing people skills". We cannot begin to gain authority to sell ourselves, our products or services until we establish rapport. It is this fundamental compatibility which influences the subconscious decision process of others.
Rapport is gained by combining three strategic components: Professional Appearance, Communication Skills plus a Demeanor that exudes sensibility and confidence. Businesses are expressing a desire to have their men and women executives of diverse backgrounds and age differences possess skills that set a unifying standard of excellence with every personal interaction.
Business Etiquette also bridges cultural differences to foreign executives now working in the United States. This higher level of competence in a staff drives sales, increases employee morale and boosts customer relationships that ultimately influence their bottom line.
Dress: First impressions are made in the first 10 seconds. Being passed over for interviews, promotion or not taken seriously in your company? Do employees take liberties with the dress codes that your customers might find disturbing? Surveys have proven that various levels of dress command different levels of respect, even if you are working in a business casual atmosphere. Shirts are tucked in, clothes are clean and pressed. For sales, a suit on either a man or women commands more respect than a sport coat/pant outfit or pant outfit for women. Business casual is not to be interpreted as "leisure wear" and uniforms should be clean at the beginning of the day with extras for emergencies.
Communication Skills: Effective communication includes both Verbal and Non-Verbal cues. Emphasizing Good Posture, Eye Contact, Listening, Vocal Variety and Conversational Style during networking and sales presentations. Pleasant, helpful voice over the phone, a quick 2 ring pick-up with a short waiting period for assistance.
Business Etiquette Mastery: The Power Of Executive Leadership. There is no gender in Business Etiquette. Women stand when shaking hands, open doors for men clients and pick up the restaurant bills, just like their male counterparts.
Business Etiquette also includes: Electronic Etiquette, Networking, Effective Listening, Office Meetings, Traveling and Dining with clients. Simple courtesies as: being on time for appointments, start and stop meetings/speeches when promised, use agendas to keep meetings on track, effective listening and quick E- Mail communication respects your time and that of others. Showing respect for others builds good office morale and sends a powerful message to those that you serve.
Mastery comes when you learn the skills, teach them by example and demonstrate (daily) your social prowess of confidence and competence so essential to today’s executive". Whether an entrepreneur, small business owner or corporate executive, YOU are a reflection of the company and must see yourself in this important light! There are tremendous benefits for being a "Polished Professional" by the way we dress, communicate and handle ourselves.
Business Etiquette seems like "common sense" yet, is not in common practice. Knowing the "social skills" of business could be the vital factor in landing that important business contract or getting that promotion. What Is Your Business Image?

STARTING YOUR OWN BUSINESS

Starting Your Own Business

BY

BASOLA A. VICTOR

How many times in your life have you seen something in the media that stirs that "Dream" inside you about having your own business? Or, maybe you were at a party talking with someone who had their own business. "...you know - I`ve been thinking about getting into my own business. Every once in a while I get the urge to do it".
This time - it clicks - and you`re at the point where it seems like there is nothing to stop you. Now you can have your Dream - your own business and all you have to do is to take the chance...that next step towards fulfilling your Dream!

Once you decide to take the plunge there are a whole host of questions that need to be answered so that you can just Get Started. Having the Dream of owning your own business is essential because at times it is the only thing that will make you keep going. Also, your Dream can give you the will & drive needed for the bad times.

One thing is certain - you will have to learn how to "work" the business. Learning how to "work" a business is the real test of being a good business person. A business plan is a good starting tool but you have to remember that "business is not a straight path". In other words, what you think today will most likely not take place, tomorrow, in the same way that you had planned. It won`t happen exactly the way you planned or on fact not at all.

As you "work" your business you will probably find that you will have to significantly revise it. The business plan is a good start but does not give you the "feel" of actually working the business. It is only a tool used to project where you think you are going. Where you wind up will almost definitely be in a different place.

Then how do you learn to "work" a business? That`s a good question. First of all you have to have the inner ingredients like adaptability, thinking on your feet, willingness to work with everybody, knowledge of a product or service, contacts, advertising, distribution methods etc. Then you need a whole host of intangibles that will have to be learned along the way.

These intangibles are not taught in school. You must learn them in the path you both take and are taken on. If you could simply take a class on how to be a good business person then there would be a lot more people in business for themselves. But, that`s not how it works. You have to learn how to "work" a business by working it.

Business is not just selling. You need to be more than a good sales person. You also have to deliver. Further, you have to be a good buyer, negotiator, bookkeeper, cash flow manager, advertiser, budgeting guru, analyst, chief cook and, you guessed it, bottle washer. You have to do everything from accepting the accolades to taking out the trash. Whatever you can`t do - you will have to pay for.

Basically your success will come from within. You are a unique person on this planet with a host of skills. As you develop you will realize & actualize your talents. You will develop a business sense that is your own - no one else`s. Be careful that the cost of your education in learning the business is not too expensive. Then you will be out of business.
Make money first. Don`t spend it until you make it.

Keep in mind that people work with people. So - your customers will want to work with you. To them you are almost irreplaceable . If the customer doesn`t like you he/she won`t work with you. People will want to buy from you because you are you. You have those special ingredients that he/she wants. There is plenty of competition out there but the customer has selected you to deal with.

Remember one very important factor - if the trust in the relationship is gone - the relationship is over. If you and your customer can`t see eye to eye then it`s time to part ways. This is an irrevocable fact in business.
You have to be willing to work until the job is done - as many hours as it takes. You are IT. If you don`t do it - it won`t get done. You are not an employee getting a paycheck for doing a particular job. You are a person who makes money by doing whatever it takes to get the job done. You are the essential ingredient in your business.

Those first few dollars that you make will probably be the sweetest. It won`t be the money that you make but the fact that you now realize that you CAN DO IT! You will work long and hard hours to keep your business going. If you find that the business keeps calling you back over and over...and you respond willingly - then you know it`s the business for you.

One word of caution - be careful not to create your own monster. If the business loses its fun & you lose the drive for the business - go back to the drawing board and rethink your position. When the spirit of what you doing is lost it is time for a change.

Keep in mind that good business people are more than the dollars they make. Dollars are for paying bills, keeping score & building wealth (considering the staggering odds). Beyond the dollars that you make is that something that keeps you pushing on in business even when times are not so good. That something is actually bigger than you because there is no limit to the actualization of your Dream.

You have to ask yourself...how am I making a difference? What is that something I have that no one else does? When will I fully understand it? Where is my baby taking me? Who will I be when I get there?
These questions will eventually be answered as you proceed down the path. At each stage of revelation you will realize that you are fulfilling YOUR DREAM.