50 BUSINESSES YOU CAN START AND MAKE PROFIT

50 BUSINESSES YOU CAN START AND MAKE PROFIT

I have decided to research and compile fifty businesses you can start and make profit even if you are a small or medium scale entrepreneur.  

I have often said it that it is needs that motivate people to buy your goods/services, so always try to meet needs. Some of the things you can do to make people pay you money are;

1.       Make or save them money

2.      Save them time

3.      Supply them with food shelter and clothing

4.      Provide them with security, safety or comfort

5.      Offer them leisure and entertainment, affection, friendship  or belonging

6.      Give them status, prestige, or self respect

7.      Add value to their lives.

With these seven things in mind, you can look at each of them and know which area you can be able to offer value in order to receive money because money is always offered for value.

LIST OF FIFTY BUSINESSES YOU CAN START

1.       Beauty service

2.      Day care service

3.      Fumigation and corporate cleaning

4.      Fish farming

5.      Barber’s shop

6.      Fashion and designing

7.      Event management

8.     Consultancy

9.      Laundry and ironing services

10.  Catering services

11.   Sales shop

12.  News paper vendor

13.  Photography

14.  Computer engineering

15.   Web design/ soft ware developer/ and programming

16.  Information marketing and online business

17.   Comedy

18.  Modeling

19.  Printing publications and printing press

20. Cyber café

21.  Bakery

22. Making of snacks

23. Poultry (animal farm)

24. Real estate business/ agent

25.  Boutique

26. Car wash

27.  Shoe making

28. Sales of make-up and perfumes

29. Wedding planners

30. Rental services (chairs and canopy)

31.  Graphics design and printing

32. Food stuff sales

33. Repair and unlocking of phones

34. Adult home

35.  Advertising agency

36. Writing and editing

37.  Educational and Counseling services

38. Lecture house for GCE ,WAEC  and JAMB

39. Fitness and weight loss center

40. Sales of computer accessories

41.  Sales of phone accessories

42.  Sales and repair of generator

43. Video coverage service

44. Sales of cement

45.  Bar operator

46. Sales of recharge card

47.  Eatery

48. Sport arena

49. Interior design and decoration

50.  Provision store

There are many other businesses you can do but I carefully wrote these out for it to inspire you to think and I am doing all this for your success.

If you do not know how to go about starting your business or you need a business plan for any of the businesses, you can contact me for further information.

To your success!

Felix Smith Aigbonohan

Business & personal Development coach

Xterics Resources® | RazorEdge Coaching

www.maximumperformancecoach.com

info@maximumperformancecoach.com

(+234) 8062998606, 705671931

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HOW TO CONDUCT A MARKET RESEARCH FOR YOUR BUSINESS

HOW TO CONDUCT A MARKET RESEARCH FOR YOUR BUSINESS

You might be asking what business should I start, how to start a business or  any other question on your mind. After you have found your answers, the next important thing to do is check the viability if the business and this can be done through market research.

Let us move straight to the point, first let us define some basic terms that will be of importance to us in this article.

 

What is the market?

Individuals or companies who will purchase your product or service. They are the life line of your business, so it is very important to know what they want, how they want it and when they want it.  For you to know this you will do what is called.......

 

What is market research?

Market research is the systematic collection and analysis of information related to the market for your business.

You don’t want to produce goods or service you thing people might need, you will want the goods/services people actually need and are ready to pay for it. Sometimes you will think is creativity to start a business of what customers might need in the future, but it wisdom to sell what people are already looking for as a young entrepreneur.

Types of information gained from good market research:

- Market location and size.

- Market demographics.

- Market receptiveness to your product/service.

- Industry trends and outlooks.

Why is market research important?

Market research gives you important basic information that allows you to make intelligent decisions about your business. The key to good market research is to:

- Define what you need to know.

- Plan your questions and research process.

Good research questions are those with answers that lead you to better judgment about your overriding question: Will you succeed?

Good research does not guarantee success. The best it can do is give a good probability of success.

Why market research is often neglected?

- Entrepreneurs are independent by nature.

- Most feel they already know enough.

- Some think it is a waste of time.

- Failure to understand its role, instead of seeing it as insurance.

- Fear it will prove that ideas are not marketable.

Download the review of my guild here  DOWNLOAD

As you follow these steps i see you making headway in your quest of entrepreneurship.

To your success!

Felix Aigbonohan

Business & Personal Development coach

Xterics Resources| RazorEdge Coaching

www.maximumperformancecoach.com.

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How do you start a business

How do you start a business

In starting up a business depending on the country you are, there are some basic requirements from government agencies, like registering the business with corporate affairs commission if you are from Nigeria and the most important of all is the starting up processes which does not involve capital alone but other prerequisite that is most essential to your business success.

I will start from the basis and list what you have to do in order to start and run a successful business.

     

         You got to have an idea or business you want to do in mind; this is the starting point for any business. All things are created twice, first in our mind or imagination and then in reality. You must have seen something you would love to do, a product you will love to manufacture or distribute, a service you would love to render or a skill you would love to market etc. You might have more than one option which is very much okay, when you go through the business development process, one might emerge as the ultimate for you.

            You have to check if you have the traits of an entrepreneur; this would have been my first point, but because you are reading this post I have taken it that you have the drive and passion to have your own business, but as I will let you know that passion is not enough. There are traits that an entrepreneur should have for you to know that this person can be successful at running his/her own business. I will like to ask you as basic question which is; what is the reason you want to start your own business?

-          Want to be your own boss.

-          Have a terrific idea

-          Want to express your true self.

-          Lost your job.

-          Looked for job and no job

-          Personal circumstances have changed.

-          Want to work from home.

-          Want flexible hours.

-          Looking for a better balance between work and family.

-          You ever wanted to run your own business

Whatever reason you might have will not disqualify you to start up a business but you must know that there are some traits you should have to be successful. Some are; Taking personal initiative, Learning from mistakes and responding positively to all challenges, having great perseverance etc.

3.      Run a market research: As a matter of fact, most people that start their own business fail in less than five years of start off, almost 70% of new businesses do not get to survive. Market research will actually tell you that this business you are about to start is suitable for you, the environment or demographic, political climate, social relevance etc. You have to look for the people already running such business and see how they are fairing, the size of the market, customers needs, what are the basic challenges of the business and to run a SWOT(Strength, Weakness, Opportunities and threats) analysis based on your findings. There are two basic methods of conduction a market research which are’ Primary and secondary research. Primary research is you going to the field with a designed questionnaire, recorder or note to find out information from business owners and customers alike, while secondary research can be done online and from books. Nigeria does not have very good business data online.

    

    Financial consideration: After you must have done the points above, then you have to consider your financial strength and weaknesses. Where are you going to get the money from?, will you have someone to invest in the business as a joint venture partnership, will you take a loan facility from bank, or do you have the money from savings to start your business? These are all important questions you have to answer.

   

     You need a business plan; I have seen countless numbers of people in my business coaching profession who would want to start a business and will say there is no need for a business plan. It is like someone having money and knows he want to build a house and tell the engineer to build a house for him and he should not worry about drawing a plan. The way it sounds stupid to you now, that is the way it is when you think you do not need a business plan to run a successful business. People run away from it because they think it is a complex thing to do, yes some might be complex, like the plan of a building, depending on what you want to build that determine the complexity of the plan. To start a small business, you don’t need a complex plan but just a simple one.

In conclusion, there are many other things that need to be done but I cannot write all in one article. But I have prepared a detailed handbook on how to start a business from scratch and grow it to become successful.  Exploring Self Employment Opportunities- a Guild to business Development.  To download a preview of the copy of the book click.  FREE PREVIEW

To order, send a mail to info@maximumperformancecoach.com or sms (+234 8062 998 606) and you will receive a reply.

The handbook will take you practically through the entire step you need in order to succeed, with lots of exercise. This is a compilation of my years of experience working with entrepreneurs and business owners as a business coach.

To your success!

Felix Smith Aigbonohan

Business & Personal Development coach 

Xterics Resources® | Razor Edge Coaching

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