Escolar Documentos
Profissional Documentos
Cultura Documentos
EIGHT
SEVEN
DEDICATION
To all who, in response to the prayer for abundant job
opportunities, answer May I be one of those who will provide
the jobs rather than answer Amen and perpetually
remain at the receiving end.
ACKNOWLEDGEMENTS
We are grateful to God Almighty whose benevolence, provision and
unmerited favour made this project a huge success and who, from
the outset of the work to the end, constantly gave us insight to affect
lives positively.
To our parents and family members, the Kadunos and the
Okhueleigbes, we feel deeply grateful for your ever-present love and
support. Our collective success owes so much to your timely and
priceless support and counsel.
Our profound gratitude also goes to staff of Bureau de Pen Ltd whose
effort made this work a reality. Your commitment to the success of
the work is invaluable and inestimable.
We will not forget to mention Dr Paul Enenche for his encouraging
messages and inspired writing, many of which were of use to us.
Also, to the June 2009 set of Living Faith's Word of Faith Bible
Institute (WOFBI) lecturers whose lectures gave the needed insight
for the conception and birth of this work, we say a big thank you.
A fair account of the success of this work will never be told if we forget
to express our heartfelt gratitude to members of the Evangelical
Church of West Africa Wuse II Abuja and especially to members of her
Youth Fellowship for their support, brotherliness and inspiration. The
poverty of the human language makes it impossible to fully express
our minds to you. Also, to the Investment Board of the same
Fellowship, we express our gratitude for your encouragement and
effort aimed at empowering youth for wealth creation.
We are particularly indebted to Ms Chubiyojo Meriga for her
painstaking proofreading and editing of this work. The work is as
much as yours as ours. Also, to Mr Iyako Joseph and Barr. Shadrach
Bako, we express our heartfelt gratitude for your great leadership
qualities and invaluable contributions to our success story.
To the duo of Messrs Yashim Bivan and Terna kaikyenge thanks so
much for your unwavering support for the publishing and eventual
printing of this work. Thanks a million times.
FORWARD
Are you frustrated and feeling used by your employer? Are you
working hard but earning peanuts? May be you are among the many
hardworking people with nothing to show for it. Then this book in
your hand is a perfect solution to your problem.
This particular book is written not only to encourage you never to
despise the little beginning, but to provide a how-to-invest, where to
invest and where to source funds for investment.
The secret of getting ahead is just getting started. All things being
equal, ceteris paribus, every person would want to be financially
empowered and become an employer of labour. In this book, the
authors present 150 available businesses one can invest in and offer
ideas on how to go about setting up a business venture.
I consider myself fortunate and privileged that the authors of Job
Eight Seven would request me to forward such an important book
that promises to change your life, if only you get started. The
circumstance of your birth is not a determining factor of the height of
success which you will attain in life. The book in your hand is a
goldmine to be explored and exploited.
Here is a book worth grabbing hold of, written by young persons who
are worth following.
Mr Iyako Joseph
Chairman, EW2 Total Concepts Ltd
CONTENTS
INTRODUCTION
ONE: In the beginning
BEFORE GOING INTO BUSINESS
TWO: What isn't true about business?
SOME BUSINESS MYTHS
THREE:Why do I need financial empowerment?
WHY YOU NEED MONEY
FOUR: Why am I still here?
PERSONAL REASONS SOME PEOPLE ARE POOR
FIVE: What available businesses do I choose from?
VIABLE BUSINESSES IN NIGERIA
SIX:
INTRODUCTION
The last time you transacted business and you were given change,
you counted the money given to you. What actually did you intend to
find out by counting it? Did you count it to verify if it was complete or
to confirm if you had been overpaid? Your response is as good as
ours. In fact, that wasn't the first time you did that except that you
might not have noticed your tendency to nearly always do so. The
fact that you are more keen to finding out if you have been
shortchanged rather than checking for an overage isn't an indictment
on you; it is simply a pointer to some inherent virtue lying within you,
which is that you appreciate the value and importance of money and
that with little assistance you may become successful business-wise.
However, the only difference which places a divide between people is
how to draw money to oneself, which many see more in paid job than
self-employment without a thought for the surplus value of the
enterprise.
If anyone has ever experienced the attendant psychological hurt in
knowing that you are capable, qualified and willing to work, but no
job is available to you, the rationale for this piece in your hand
therefore needs no emphasis. The failure of government has never
been made so manifest as the realization that over 120,000
Nigerians are churned out by the NYSC every year, with less than
10% of them having gainful employment. And this unemployment
problem is worsened by a legacy of years of operating a monoeconomy. But the social problem of growing unemployment has a
solution which is strapped in the walls of individuals' minds, if only
they will look inward. The human mind is capable of imagining
awesome things and creating vast opportunities. Surprisingly,
despite this the problem of unemployment remains because many
Nigerians have not considered self-empowerment via selfemployment.
A major intellectual difficulty that often confronts writers is the one of
maintaining dual personality in simultaneously writing for two
dissimilar audiences, which are the amateur in the field that the work
is addressing and those who are professional. In putting this work
together, we were no exception to, or insulated from, this difficulty.
The work is written with so much simplicity to endear it to all
categories of users and it lends itself to easy grasp as it details many
6
CHAPTER ONE
In the beginning
5. Workplace experience
Dissatisfaction from one's workplace or former office can be a
platform for the execution of a business idea. Through one's work
experience, one becomes aware of certain lapses and deficiencies
associated with a particular service or product. A former bakery staff,
for instance, knows the reason for certain customer complaints and is
able to work towards addressing such complaints once he establishes
his. Relying on experience from his workplace, an aspiring
entrepreneur is able to know that stopping passengers in a decent
restaurant midway in their journey for a free and well prepared meal
will endear the passengers to that particular mass transit, though
unknown to some of them the meal is part of their transport fare. By
so doing, he has been able to create business opportunity for himself
as he takes off his business.
6. Franchise
As an entrepreneur, you may have the opportunity to start business in
a different locality using another business's licence or permission,
though you have the task of striving towards achieving the excellent
quality for which the franchisor (the original company) is known.
7. Personal experience and concern
One's personal concern can help create a business opportunity for
that person. For instance, the problem of repeated rape of women can
make one to develop a substance such as cream or a device such as
anti-rape which will produce smell that results in penile weakness or
lack of libido in the rapist. Also, for instance, the fact that Nigerians
are hardly meticulous in many of their activities or practices can make
someone to come up with a suggestion that governments should
introduce total quality management to schools. If it flies, this will lead
to the writing of books, hosting of seminars on TQM and employment
of teachers for this particular subject.
8. Counter-product
Producing a product or service that has the ability to counter an
existing problem can lead to business opportunities for an
entrepreneur. Anti-virus products are good examples of this. Such
products could be preemptive or curative in that they prevent or cure
respectively. Getting one for HIV/AIDS, fibroid, cancer, Ebola and
exam malpractice will definitely be a money spinner. Conversely, you
11
Merits
1.
You have job security and are not afraid of being fired by
someone for any reason.
2.
It usually helps you avoid the dishonesty involved in
falsification of age in order to get a job.
3.
You save yourself the difficulty of seeking for job and regularly
attending interviews.
4.
You can be your own boss or give out the management of the
business to someone of your choice.
5.
You have the flexibility of deciding your own hours of
operation, opening and closing when you like.
6.
Such basic decisions as working conditions and the location of
your business are in your power to decide.
7.
It pays off financially unlike when you work for someone else.
8.
You have the right to manage the business the way you like.
9.
You become versatile or multi-talented since you may be
involved in many things yourself.
10.
You have the satisfaction that comes from personal effort.
11.
Depending on your profit level, you may even pay yourself
more than you deserve.
12.
You experience the joy of giving meaning to people's lives as
you engage them in paid employment.
Demerits
1.
You may need to learn to handle certain new things outside
your core areas of interest, which you will probably not wish to
subject yourself to e.g. filing, decorum, negotiations, public
relations, marketing and sales duties, financial planning and
accounting, administrative and personnel management, etc.
2.
You may have to work for longer hours than you would if you
were hired by someone.
3.
You may be involved in taking risk e.g. borrowing money to
start the business, bringing a completely new product to
market or making investments.
4.
Your income may not be steady, especially at the teething
stage.
5.
You may have to take certain decisions against your will e.g.
employing a friend or relative.
6.
You may have to contend with the problem of often being
misunderstood due to certain corporate decisions.
7.
Even at your off hours, you are unconsciously occupied with
13
10.Mismanagement of funds.
11. Inadequate record keeping.
12.Lack of differentiation between personal property and business
property.
13.Time mismanagement.
14.Indiscipline.
15
CHAPTER TWO
What isn't true about business?
the world won't be told had a humble start but expanded their
frontiers with the passage of time. The histories of Coca Cola,
Microsoft, Daar Communications Plc, and Peugeot are a testament to
the humble beginnings of many future giants. Ford Motor Company
had a humble beginning in a one-room brick factory and
metamorphosed to become one of the world's greatest industrial
empires. In business, always think big but start small, and though
your beginning may seem little, your end promises something
uniquely different.
Myth # 4: In business, profit before customers.
Experience in commercial enterprise does not lend credence to this;
it is the reverse. Customers matter far more than profit since your
ability to satisfy your customers and meet their needs is what keeps
you in business. Repel your customers or accord them a secondary
status and you risk business failure.
Myth # 5: The first are the most successful.
The belief that the first people to come into a particular business
always have the greatest share of the market is false. As long as the
one who arrives last in the business landscape can study the reasons
for the failures of the first arrivals and what their teething problems
were, the business person can build on such knowledge and become
great or even greater. It is often said that Microsoft was not first with
the word processor or spreadsheet, yet it has dominated all in that
sphere.
Myth # 6: The you-are-a-good-teacher-so-start-a-lessonbusiness advice.
The fact that one is good or proficient in a thing does not necessarily
make them an automatic success when they extend same into fulltime business. That your friends and relatives commend your
excellent cooking doesn't make you a great cook or caterer. The
Spaniards aren't wrong when they observed that There is more to
dancing than a pair of dancing shoes. Don't forget that along with
your specialty, you will be involved in buying, budgeting, payrolling,
managing employees and paying taxes and utility bills.
Myth # 7: Good friends always form a great partnership.
It is not true that good friends always make successful business
partners. With the benefit of hindsight, there are certain reasons that
18
your friends are your friends and they don't necessarily go well with
conducting business. It has been observed that friends do not usually
have the same work habits. Also, people change greatly when it
comes to money matters. Even if friends don't take advantage of
each other, in life things happen to the point that as long as the
partnership remains, one is liable for decisions made by the other
party at which point the chord of friendship snaps.
Myth # 8: Failure is a bad omen.
This is false. In fact, failure could even be the foundation on which
one's success story is built. Failure is only a problem when you allow it
to be the final stage; otherwise it's just learning if you don't repeat it
next time.
Myth # 9: Knowledge is power.
Like gold which is of no use if it can't be mined, unapplied knowledge
is only a potential; it empowers no one. Apply your knowledge in
business and it will empower you to succeed.
Myth # 10: Every customer is equally valuable.
Set aside the notion that every customer is equally valuable, because
over time you will come to realize that some customers are worth
more than others. As it appears, some customers are more trouble
than they are worth. Endeavour to treat all your customers as
valuable, but in deciding how to stretch scarce resources like time
over different customer needs, one may be more valuable than
another.
Myth # 11: Having more customers is better than having
fewer customers.
This position calls for a thorough analysis. Some companies go out of
business because they have too many customers or too much
demand for their product. Imagine your company does audio-visual
recording, it can get inundated with demands and not be able to keep
up the coverage. It then happens that the clients who are delayed in
getting their events covered are unhappy and may cancel their
orders. In fact, the unexpected happens when word starts to spread
that your company is incompetent in meeting customers' demands.
Also, having too many customers all demanding your primary scarce
resource can wear you down and lead to poorer quality and errors in
production.
19
21
CHAPTER THREE
Why do I need financial empowerment?
26
CHAPTER FOUR
Why am i still here?
one hasn't failed. Since the disease of ignorance can be cured in the
school of knowledge, this knowledge that one isn't a failure simply
because one has failed should suffice. One broken dream is not the
end of dreaming, says Ivy Preston, still build your castles even
though your castles fall. People should not be afraid of setbacks in
business. In life generally and in business particularly, learn to be
courageous. Life shrinks or expands in proportion to one's courage,
says Anais Nin. If only people can reason in this direction, they can
rise above subsistence.
15. Extravagant spending
Wasteful or prodigal living is the enemy of financial prosperity. The
wasteful lifestyle of some people tends naturally to poverty. The
amount of time they spend on phone calls that are far from being
commercially viable, if subjected to the lessons of frugality, can be
halved with some money saved for another occasion. Also, rather
than settle for wholesale purchases of e.g. foodstuffs, they prefer
petty purchases of same. They celebrate every birthday and honour
every invitation to a lavish ceremony. By so doing, their resources
dwindle and they are unable to save for future use. To escape poverty,
you must learn to be economical.
16. Link to the past
Many people court poverty when they live in their past rather than
enjoying where they are on their way to their destinations. No one
who lives in the past has a place in the future. Enjoy today and take
advantage of its many opportunities in expectation of tomorrow.
Don't be tied down by your past setbacks. Yesterday should be in the
tomb; work towards the birth of what lies ahead. When hope folds its
hands and looks back, writes George Elliot, it becomes regret. And
as Thomas Edison did observe, In the pursuit of greatness, you must
forget the word 'disappointment' and the word 'impossible'. Poverty
is inevitable when one refuses to advance and continually yields
willingly to the failures of their past. One should never lament what he
or she can't change. Inability to understand this makes many poor for
fear they might fail again.
17. Ambivalence
Some people do have highly innovative minds to become financial
giants, and they may even know whom to meet and how to go about
some businesses, but indecision on when to take the step is their
34
appetite.
3.
Always make bulk instead of petty purchases e.g. always buy
a bag of rice, a gallon of cooking oil, a sack of salt, etc instead
of buying in cups and bottles.
4.
Don't pay for what you didn't demand for. Never pay a
photographer for an unsolicited photo. Fight sentiment and
pity with resoluteness.
5.
Avoid ostentatious and sybaritic lifestyle; sacrifice today's
pleasure for tomorrow's enjoyment.
6.
Cut down your list of parties and ceremonies to attend. You
need not attend or celebrate every birthday unless it has some
financial benefits for you.
7.
Revisit illogical and senseless resolutions such as changing
your wardrobe every six months.
8.
Be rational or thoughtful about your expenditure. Ask to know
why you need the thing you are about to buy.
9.
Have more accountants as friends than social workers whose
sense of pity is legendary.
10.
Avoid over-excited people who will always invite you to a party
or ceremony.
11.
Plan and rehearse what you wish to say before making a
phone call. A brief message has greater impact than a verbose
conversation watered down by much talking.
12.
Avoid visiting mechanic workshop with much cash or ATM
card. If you know you don't have much money with you, you
recommended.
13.
Don't always keep much cash at home or take much cash with
you when leaving for an event such as a ceremony or social
gathering.
14.
Unless you are a thoughtful spender, and depending on your
bank's automated teller machine policy, don't demand for an
ATM card from your bank. Similarly, always keep your cheque
book(s) at home.
15.
Convince yourself that not all wants are necessary.
16.
If you have none, open a bank account at all costs, even if it is
in a microfinance bank. You may even make it a fixed deposit
so that you are not tempted to always make withdrawals.
17.
If you have an account, decide forthwith how much you will
pay into it every month as an earner, and from which source
you wish to furnish the account with money if you are
unemployed. In fact, set a monthly, bimonthly or annual
36
18.
19.
20.
21.
22.
23.
37
CHAPTER FIVE
What available businesses should
I choose from?
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
Acting
Abattoir (slaughtering and butchering business)
Aluminum work
Ambulance service
Animal husbandry
a. cattle rearing
b. dog rearing
c. goat rearing
d. piggery
e. rabbit rearing
f. sheep rearing
g. snail farming
Artistry
Baking
Banking
Bar
Barbecue
Bead making
Bike and cycling race service
Bike riding (okada or achaba)
Biscuit production
Body cream / lotion making and sale
Bookshop service
Bottled and can drink production
Boutique
Building block production
Building work
a. masonry
b. ceiling
c. glazing (glass fixing)
d. joinery
e. plastering
f. plumbing
g. roofing
h. scaffolding
i. tiling (tile fixing)
j. wiring
Bureau de change
Business centre
Call centre (phone call)
39
24.
25.
Candle production
Car service
a. cab/taxi
b. car hire
c. car repair
d. car sales
e. driving school
26.
Carpentry
27.
Carpet and rug sales
28.
Catering (cooking for sale)
29.
Cement sales
30.
Charcoal business e.g. for barbecue
31.
Chips production e.g. plantain chips
32.
Choreography band
33.
Cleaning service
34.
Clothes dying
35.
Clothes selling
36.
Coaching and teaching
37.
Compaq disk production
38.
Computer programming
39.
Computer software creation
40.
Cyber caf
41.
Daycare
42.
Decoration of events venue
43.
Drawing and cartooning
44.
Dry cleaning
45.
Editing
46.
Entertainment and amusement (comedy)
47.
Estate agency
48.
Event organizing
49.
Eye glass production
50.
Farming
a. crop farming
b. grain
c. fruit farming
d. tuber farming
51.
FOREX trade
52.
Fruit farming / sale (orchard)
a. apple
b. avocado
c. banana
40
53.
54.
55.
56.
57.
58.
59.
60.
61.
62.
63.
64.
65.
66.
67.
68.
69.
70.
71.
72.
d. cabbage
e. cherry
f. corn
g. citrus
h. coconut
i. garlic
j. grape
k. lemon
l. lime
m. mango
n. mushroom
o. okra
p. onion
q. orange
r. pawpaw
s. pineapple
t. tangerine
u. watermelon
Fruit juice production
Fuel supply with tanker
Furniture making
Garri merchandise
Greeting card production
Gymnasium (fitness centre)
Hair business
a. barbing
b. hair dressing
c. hair plaiting
Handkerchief production
Hat design
Hearse service
Holiday lessons / coaching
Honey extraction
Horticulture
Hospital management
Hotel management
Ice block production
Ice cream production
Intellectual property sale
Interior decoration
Interlocking tiles production / fixing
41
73.
74.
75.
76.
77.
78.
79.
80.
81
82.
83.
84.
85.
86.
87.
88.
89.
90.
91.
92.
93.
94.
95.
96.
97.
98.
99.
100.
101.
102.
103.
Key cutting
Knitting
Kunu drink making
Lipstick, lip gloss, eye lead production
Mechanic practice
Metal and steel work
Milk production
Milling service
Mobile advertisement service
Morgue service
Mortgage
Musical band
Nanny service
Newspaper and magazine production
Orchestra and theatre management
Paint making
Painting and spraying
Palm business
a. palm cream
b. palm kernel
c. palm oil
d. palm soap
e. palm wine
Panel beating
Paper production
Park and garden creation and maintenance
Pedicure and manicure
Pen and pencil manufacturing
Perfume making
Petroleum product sale
a. cooking gas
b. diesel
c. engine oil
d. kerosene
e. petrol
Petty trading
Pharmaceutical service
Polythene bag production
Popcorn making
Pottery and carving
Printing press
42
104.
105.
106.
107.
108.
109.
110.
111.
112.
113.
114.
115.
116.
117.
118.
119.
120.
121.
122.
123.
124.
125.
126.
127.
128.
129.
130.
Publishing
Recharge card production
Recreation and amusement centre
a. boat cruising
b. horse riding
c. merry-go-round
d. seesaw
e. swimming
f. swinging
Refuse clearing with truck
Rental service
a. canopies
b. chairs
c. generator
d. sound system
Research and reporting
Resort
Restaurant and fast food service
Rosette making
Sachet and bottled water production
Sale and repair of computers, generators, electronics, etc
Sale and repair of gas cylinders and parts
Sale and repair of handsets
Sale of building materials
Sand supply with tipper
Saw mill
School management
Security service
Seminar presentation
Sewing
Shoe making
Shoe polish production
Silo (grain storage) service
Soap making
Solar energy
Song composition for sale
Sports centre
a. basket ball
b. golf
c. handball
d. lawn tennis
43
131.
132.
133.
134.
135.
136.
137.
138.
139.
140.
141.
142.
143.
144.
145.
146.
147.
148.
149.
150.
e. snooker
f. soccer
g. table tennis
h. volley ball
Sports view / cinema
Stone supply with tipper
Studio business
a. art
b. music
c. photo
Sugar production
Supermarket service
Tailoring and fashion business
Textile mill
Thrift management
Transport service
Undertaker service
Vegetable farming / sale
a. beetroot
b. carrot
c. cucumber
d. lettuce
e. parsnip
f. pepper
g. pumpkin
h. radish
i. swede
j. tomato
k. turnip
Video coverage
Vulcanizing
Water supply with tanker
Web design and maintenance
Wedding planning
Welding and fabrication
Wholesale or retailing of essential items
a. fish
b. meat
c. palm / groundnut oil
Wood business e.g. for furniture
Writing for publishing or sale of copyright
44
a.
b.
c.
d.
freelancing
ghost writing
prose
script writing
A single major contract could help one recoup total take-up fund.
Business risk
Low patronage, fracas in a seminar venue, delayed payment for
contract, dissatisfaction by client for alleged poorly written work.
Contact
0805 921 5999
0803 529 0882
0802 357 1323
0702 687 1060
_______________________
Business venture
Beauty make over.
Viability
Amazingly viable.
Competition
Very, very high.
Take-up fund
Between N50,000 and N150,000.
Available market (demand)
Very much available.
Take-off requirement (e.g. registration, union affiliation,
tools)
Basic makeup like very good powder (in at least five colour range of
Nigerian women), lip-gloss, mascara, eye colours, brushes, bags or
sack, creams, extraction tools (for facials).
Location
Abuja.
Target market
Female folk.
Return on investment
47
Very minimal.
Contact
0803 590 9950
_______________________
Business venture
ICT / Business branding.
Viability
Highly viable.
Competition
Very high.
Take-up fund
N5 million.
Available market (demand)
Very high.
Take-off requirement (e.g. registration, union affiliation,
tools)
Desktops and laptops; network adaptors; computer stationeries;
knowledge in networking, graphic designs, programming, web
design, data management.
Current location
Abuja.
Target market
Everyone.
Return on investment
Invested fund can be recouped within one year.
Business risk
Business risks vary greatly.
Contact
0803 383 1326
49
objects.
Contact
0807 713 2317
0702 595 1487
0803 890 6399
dsun33@yahoo.com
_______________________
Business venture
Recharge card retailing / wholesaling.
Viability
Very viable.
Competition
Very high.
Take-up fund
At least N30,000 for retail and N500,000 for wholesale.
Available market (demand)
Very high.
Take-off requirement (e.g. registration, union affiliation,
tools)
Painted and registered kiosk / cube, stool, waste-bin, broomstick,
padlock.
Target market
Everyone.
Location
Abuja.
Return on investment
One make up to or more than 80% of initial capital monthly (where
there is high patronage).
Business risk
Environmental authorities' routine raids, fraudsters, unfavourable
51
weather.
Contact
0803 297 9795
_______________________
Business venture
Honey sales.
Viability
Very high.
Competition
High.
Take-up fund
N120,000.
Available market (demand)
Very much available.
Take-off requirement (e.g. registration, union affiliation,
tools)
Registration of company, NAFDAC certification, containers, labels,
etc.
Current location
Abuja.
Target market
They are mostly diabetic patients, persons avoiding sugar intake and
households generally.
Return on investment
Return on investment can be recouped almost immediately after
take-off.
Business risk
Low risk as long as you take precaution against adulteration.
Contact
52
Business venture
Environmental services.
Viability
Highly feasible.
Competition
Low.
Take-up fund
N1 million
Customers
Business people, property owners
Location of business
Abuja, Kaduna.
Ready market (demand)
Very high.
Take-off requirement (e.g. registration, union affiliation,
tools)
Office space, warehouse, vehicle, CAC registration, EHRECON
registration.
Return on investment
Invested fund can be recouped within four to six months.
Business risk
Fire outbreak.
Epileptic electricity supply.
Contact
0803 246 7763
Business venture
Carpentry / furniture making.
Viability
54
Highly feasible.
Competition
High.
Take-up fund
N2 million
Ready market (demand)
Very high.
Take-off requirement (e.g. registration, union affiliation, tools)
Plaining machine, moulding machine, tape, saw, jack plane, square,
hammer, chisel, jacking stone, sawing or circular machine,
sandpaper machine, spraying machine, cramp, pack of nails,
shop/warehouse.
Return on investment
One can recoup the invested fund in four to five years.
Business risk
Fire outbreak.
Epileptic electricity supply.
Government policy such as ban on deforestation can affect wood
supply.
Termite invasion.
________________________
Business venture
Clothing and apparel (customized).
Viability
Highly feasible.
Competition
High.
Take-up fund
N100,000 N200,000
Ready market (demand)
56
Very high.
Take-off requirement (e.g. registration, union affiliation,
tools)
Sacks, sewing machines, fabric materials, cutting tools, paints.
Location of business
Abuja, Kaduna
Customers
Everyone since everybody wears clothes.
Return on investment
One can recoup the invested fund twelve months.
Business risk
Meeting customers' tastes in terms of design, sizes and fabric is
sometimes a difficult task. (The business is mainly based on requests
by customers.)
Contact
0806 561 6624
0702 579 9199
mybivins@yahoo.com
________________________
Business venture
Park or recreation centre.
Viability
Highly lucrative.
Competition
Low due to the large expanse of land required and the amount of
investment involved.
Take-up fund
This depends on the location; more cost-intensive in state capitals.
Ready market (demand)
Demand is high if it situated close to an urban area.
57
hours.
Contact
0703 893 1391
xanderonov@yahoo.co.uk
(Additional info: You can subscribe to www.trade400.biz for trade
signals such as when to buy and sell.)
___________________
Business venture
Boutique (foreign clothes).
Viability
Highly viable.
Competition
Very high.
Take-up fund
N35,000 to N45,000.
Ready market (demand)
There is always demand for exotic wears.
Take-off requirement (e.g. registration, union affiliation,
tools)
Hangers with nails, rope to spread clothes, sacks, desk and/or show
glass, transport to the point of purchase (Lagos).
Point of purchase
Materials may be purchased at Oshodi market, Mushin market and
wharf in Lagos.
Return on investment
Within one month.
Business risk
Rain could be disruptive.
Inability to select rare wears.
Armed robbery attack if one travels with cash.
59
_______________________
Business venture
Book sales.
Viability
Average.
Competition
High.
Take-up fund
About N100,000.
Location
Abuja
Ready market (demand)
Average
Take-off requirement (e.g. registration, union affiliation,
tools)
Desk, chair, shop, nylon for covering against rain.
Return on investment
Within two to four months (depending on point of sale).
Business risk
Sunshine, rainfall, termite (if they stay too long in a particular spot).
Contact
0805 118 2694
0803 310 7271
0803 349 6006.
60
CHAPTER SIX
Why do I need financial empowerment?
you will ride better jeeps when you are successful in business. Claims
that urge you to send in recharge card to redeem your prize are
anything but reliable.
Similarly, some Nigerian companies especially banks usually have
special promos aimed at offering the public some useful items such
as laptops or benefits. This requires you to make payments for the
items over a long period of time unlike the full payment you make
when purchasing them. If some of the items are part of what your
business needs to take off, you may find out what it takes and take
advantage of the offer while it lasts.
20. Credit purchase
If you are able to talk business over with the supplier of the product
you are trading in, he can allow you to collect items on credit until you
sell them out before payment is made. Trust or guarantor counts
here.
21. Part payment agreement
Just as the name implies, to ensure your business does not suffer
lack of funding you can negotiate with your product supplier to have
part payment of goods while releasing the remainder to you on credit
until sales are made. Upon disposal, you may return and make
payment. This may be unhelpful to business people whose area of
interest isn't products.
22. Gratuity and pension benefits
For individuals who have had the privilege of having worked, starting
off your business with the proceeds from your pensions and gratuity
will be a noble idea. Such finance must however not be wasted.
23. Overdraft
One means of raising finance for your business, though limited, is
through an overdraft payment. This is done when you ask your
banker to pay above your current account balance. In overdraft,
interest is usually paid on debit balance to the account each day.
24. Issuance of shares
To raise funds for your business, you can issue shares to individuals
who may be interested in your business enterprise (if you already
have an established or a CAC-registered company). By buying
70
72
CHAPTER SEVEN
How do I go about setting up a
business venture?
55
Small towel
For cleaning of electronic sets.
Calculator
For calculating figures.
Dispenser
For drinking water.
Dictionaries
For checking spellings.
Telephone sets
For commercial calls, etc.
Scissors/pin remover
For manual slicing of papers and
removing pins from papers.
Consumable items
Ribbon, printing / photocopy papers, print
cartridge, toners, spiral rings, hard covers, conquerors, rulers.
8. Sample of contract proposal
As a business person, occasions will arise when you will have to write
proposals for contract, and below is a sample that will help you do
this.
WORKSHOP TOPICS
Specifically, we wish to train the seminar attendees in the following
areas:
?
Swine influenza
?
Lassa fever
?
SARS
?
Meningitis
?
HIV/AIDS
?
Hepatitis
?
Cancer
?
Bird flu
THE COMPANY
Life Touch Nigeria Limited is a corporate organization located in Bwari
in Nigeria's Federal Capital Territory. It is registered under the laws
and ethics of the Corporate Affairs Commission of Nigeria with
registration number 0750259 to embark on health researches,
treatment and sensitization of the public on health management
concerns throughout Nigeria. The Company's other concerns are in
the area of writing / documentation of disasters that have the
77
4.
5.
6.
7.
8.
9.
10.
out the public sensitization through its staff (if need be). Besides
using the media such as radio and television, some of the avenues we
may help to relay information about the workshop will be:
Schools
Religious places
Bill boards on the streets
Flyers and leaflets.
CONCLUSION
Life Touch Ltd is committed to satisfying its clients through the
successful discharge of this assignment. The organization has a body
of experienced and seasoned experts whose health knowledge and
personal experiences in Nigeria and abroad will be brought to bear on
the training of participants at the workshop. The occasion promises
to be a watershed in the issue of health management through
personal training.
We look forward to hearing from you and thank you for your
anticipated consideration.
Yours faithfully,
Amina Aruleba
81
You would recall that with the recent expansion of the office and the
current legal issues the department has to attend to, more hands will
be needed to efficiently carry out our duty. Not long ago, two of our
staff were sacked on grounds of gross misconduct. It is on this note I
am requesting for two new employees. Among other personnel
considerations, the would-be personal assistant should have some
experience from a law firm or possess at least a certificate in law.
Thank you.
Prisca Bivan
From:
To:
CC:
Date:
Subject:
Human Resources
Managing Director
Accounts and Legal Services
3rd August 2009
MODALITY FOR THE USE OF OFFICE COMPUTERS
11:00 a.m.
82
with effect from tomorrow when this decision is to take off and last till
when the Company is financially buoyant enough to afford another
system. Below is a daily time table that may help you make utmost
use of the shared systems.
Although the six-hour use and three-hour lull timeframe above is
fixed such that, for instance, while the Company Secretary is not
making use of the system, she can think ahead in time what
utmost use she may put the system to once she has it. From the
time table, every staff is entitled to six hours' use of the laptop
and three hours' lull with the break time of 1:00 2:00 p.m.
counted as part of the said time.
Ben Obehi
HR
83
CHAPTER EIGHT
How do I document my business ideas?
BUSINESS PLAN
Along the line, you will need to document your numerous business
ideas since as the English people would say, The faintest pen is
better than the sharpest memory. Putting your ideas down in writing
has lots of advantages for your future business. A business plan is a
written document, a well spelt out body of information which guides
the setting up of a new business or the implementation / rebranding
of an existing one in moving it from its present to a desired state. A
good business plan doesn't have anything to do with length or the
overall info covered in the plan. It's all about figuring out your goals
and the specifics of achieving them.
Your business plan must be free of defects and technical flaws. It
must be a masterpiece or something close to that, reflecting your
intellect and skill even in your absence, showcasing your capabilities
and desire to succeed and take risk, and not without some
meaningful statistics and inerrant projections. It must be able to
anticipate questions such as how to handle competition, manage a
sudden fall in demand for your products, treat customers'
complaints, etc and address them satisfactorily. Below are some key
elements of an idea business plan:
Vision/mission statements
The people
Business profile
Economic assessment
Basic business concepts
Feasibility and specifics
Market survey
Competition
Financial analysis
Reasons for having a business plan
1.
It will define and focus your objective using appropriate
information and analysis.
2.
You can use the plan to solicit opinions and advice from
people, including those in your intended field of business, who
will give you invaluable advice. On many occasions, young
and inexperienced business people forge ahead without the
benefit of input from experts who could save them a great
deal of problems.
85
3.
4.
5.
6.
7.
8.
86
achieve this objective the company will engage the paid services of
several competent hands, some of whom will be marketers who will
serve as links between the company and the customers; researchers
who will work together with the customers or their agents to gather
relevant data related to the would-be couple that needs publicity;
writers who will analyze the raw data collated by the researchers and
put same in readable literary form; editors, who are to peruse, edit
and carry out the emendation of the written work; and the
webmaster who will post the information on the web after putting
same in web-worthy format.
On a secondary basis, the company will also engage in other forms of
commercial research and writing services, using the same staff
mentioned earlier.
1.2
Mission
To take advantage of Nigeria's information gap to empower ourselves
financially.
1.3
Vision
To establish a commercially viable business that will be renowned for
bringing Nigeria's would-be couples to limelight.
Services to be offered
Online information publication
Research services
Gathering of data
Analysis of data
Conduct of interview
ii. Photo studio
Taking instant shots and printing same for customers
87
88
S/NO.
TARGETED CUSTOMERS
NO. OF TARGETED
CUSTOMERS
1.
2.
State governments
3.
Local governments
774 (prior to
the ceding of
Bakassi)
4.
Ethnic groups
5.
Human settlements
(towns and villages)
Renowned persons
(politicians, traditional rulers,
celebrities, etc)
Corporate organizations,
NGOs, businesses, etc
Religious groups
6.
7.
8.
3.2
Customer benefits
This business plan has lots of customer benefits. First, it will provide
an important database for the Nigerian public and world at large
logging on to the net, especially Nigerian government agencies and
corporate organizations. Second, it will project the couple's rich
image and popularize the couple. For a future political office holder, it
promises to help boost their future chances of success as candidates
for an elective position since they have been popularized via this
means. Moreover, the innovation has the inherent potential of helping
to reduce the problem of planning which is a direct function of dearth
of information and database.
When planning for expansion, the Gombe or Delta State governor, for
instance, may not need to request the presence of Billiri or Ethiope
East Local Government chairman if he needs to know the number of
wealthy married couples in that LGA once the information is on the
web. In this sense, it helps circumvent the avoidable risk of plying the
Nigerian road and helps to manage time. It can become a source of
revenue if a government agency or corporate organization decides to
commercialize some aspect of its web page such that it can only be
accessed by payment via credit card purchase.
3.3
Societal benefits
It is often said proverbially that when the plate is full, its cover will
89
taste of its contents. The overall benefits resulting from this business
also have an impact on the immediate and remote environment.
First, this step will help enrich Nigeria's poor database. Second, it has
educational benefits, especially for students at all levels and
members of the academia who will always need facts about places,
people and events. A Gbagyi, Tiv or Urhobo student in Japan or
Canada, for instance, may not need to contemplate travelling to
Nigeria or visiting the Nigerian embassy before attempting an
assignment on the number of wealthy people who get married in his
hometown once information about these places appears online. It will
save them the costs, time and risk involved.
Furthermore, and as its latent function, our effort, although largely
commercial in nature, promises to bring Nigeria at par with
developed societies which have a high presence on the Internet and
boost UNESCO's attempt to document some aspects of indigenous
tribes' histories and culture for posterity. It will also create a healthy
competition among Nigerian rich folks for online documentation.
3.4
Means of achieving business goal
There is a unique circumstance surrounding this business line that
will help its owners achieve its end. To various would-be couples, for
instance, our persuasive and pushy team of marketing executives will
be armed with reasons that will seek to convince them that their
particular wedding culture and tradition are unique enough to
deserve being protected from assimilation or extinction by means of
the Internet. While not merely using this finding to appeal to their
sentiments, we will make them see reason to preserve their cultural
heritage through their patronage of our services.
Added to this is the fact that the Nigerian political class likes publicity,
both of self and personal achievements. Creating a forum for them to
do what they delight in will certainly always be welcome by them. We
are therefore taking advantage of this self-serving interest of theirs
to remain in business. Besides this, we will be armed with modern
gadgets which will be deployed in our marketing efforts.
Furthermore, a psychological analysis of the mindset of Nigerians will
reveal a subliminal competitive drive which makes Nigerians,
individually or collectively, want to have something simply because
their neighbour has it, even if it is not needed. It is therefore expected
that the presence of a Zaria or Kaltungo couple, for instance, on the
90
Geopolitical zone
States
Geopolitical zone
States
Geopolitical zone
States
First year
North Central
FCT, Niger, Nasarawa, Benue, Kogi Plateau and Kwa ra.
Second year
North West and North East
Adamawa, Taraba, Kano, Katsina, Kaduna, Jigawa, Yobe,
Kebbi, Gombe, Bauchi, Borno, Sokoto, Kebbi and
Zamfara.
Third year
South East, South West and South-South
Lagos, Oyo, Ogun, Ondo, Ekiti, Anambra, Enugu, Imo,
Ebonyi, Abia, Delta, Edo, Rivers, Cross River, Bayelsa
and Akwa Ibom.
4.3
Takeoff stage
During this stage, the business market target will be mainly in the
North Central geopolitical zone of the country. This will be the main
area of operation for the first one year. This choice is informed by the
high number of opportunities, in terms of ethnic groups, paraded by
this zone. It must be noted that the coverage area presented in Table 2
must not strictly be followed. Business opportunities from other areas
may alter initial plan in terms of area of operation. But except this
happens, we will remain focused on the intended plan.
4.4
Take-up requirements
92
TAKE-OFF STAGE
Primary/immediate needs
Qty
Registration of company
Office space (for the first year)
p. a.
Laptop (model: HP Pavilion DV 6730)
2
Internet access
6 months
Modem (for the net access)
1
Hosting of website
1
Digital camera
1
Mobility (fairly used car)
1
Office equipment (furniture, electronics, etc)
Total
Cost
Registered
N650,000*
N280,000
N57,000
N25,000
N50,000
N40,000
N500,000
N250,000
N120,000
N300,000
N250,000
N2,522,000
S/No.
1.
2.
3.
4.
5.
6.
Customer
State government officials
Local government officials
Ungrouped personalities
Corporate organizations
Academic events and ceremonies
Federal agencies
Rate
N100,000
(already settled in take-up capital)
N80,000 each
N50,000 per customer
N50,000
N360,000
94
SECTION 6: Conclusion
6.1
Level of preparedness
As a mark of our preparedness, we already have a list of 372
languages in Nigeria and the states where they are found, a list of 774
local government councils in Nigeria, an online-worthy sample of
Esan ethnic group in Edo State, Afizere in Plateau, Idoma in Benue,
Ijaw throughout the Niger Delta and Nupe in Niger State as well as a
list of 26 major tourist attractions in Nigeria where our photographers
can secure contracts from tourists for coverage. Also, Wedder and
Joiner (Nig.) Ltd has been registered with Nigeria's Corporate Affairs
Commission (CAC). A few contacts have been made, first in terms of
giving out some jobs to capable companies in case we are occupied.
We are in touch with some important persons one of whom is a
popular media personality in Abuja who may facilitate our meeting
with top political office holders, as accessibility is a major problem
with marketing, which is a major aspect of our job.
6.2
Anticipated questions
Question: Based on Table 2 in Section 4, doesn't it mean that
once the company spreads to all the states and LGAs of the
federation, it will have reached the peak of its business
profits, as there will be no more new offices to secure
business?
Answer: Based on Item 4.1, the answer is NO. If the company
secures a contract from Abaji Area Council in 2010, for instance, it
can revisit that same council anytime a new administration assumes
office. Also, unless otherwise stated, the execution of an online
contract will not mark the end of a contract between Wedder and
Joiner (Nig.) Ltd and most of its customers. The continuous updating
of the website with fresh facts and data, at an annual sum of at least
10% of the initial contract sum, is ours.
95
96
Office files
Official receipts
Letter-heads
Invoices
Almanacs
Identity cards
ii. Business centre services
Type-setting of project works, students' assignments, etc
Photocopying of documents
Binding of documents e.g. students' projects
97
Lamination
Lecture handouts
2.3
Human resources
The business outfit will require the services of two expert typists and
one person with printing experience to support the MD who will also
have experience in both printing and business centre operation. The
printer will be a male staff while one of the typists will be male and the
other female.
TARGET CUSTOMERS
1.
2.
Lecturers
Administrative staff
About 150
About 270
3.
Full-time students
About 16,000
4.
Part-time students
5.
Local residents
3.2
Location
ABU premises in Zaria, Kaduna State. There is a shopping centre
about to be completed and it is close to the main administrative block
of the school.
3.3
Customer benefits
The printing service of the business outfit will be a welcome
development for both the members of the academia and the students
whose works have had to be taken outside the school premises on
several occasions due to the mismanagement of the school's printing
press and business centre. Also, the attendant delay of the school's
press due to failure of electric power and absence of a generator will
not be replicated in this private venture. Customers will receive
speedy attention as we are prepared to increase our staff strength to
98
vi.
vii.
viii.
ix.
x.
xi.
3.5
better for our old customers. Thus competition does not in any way
threaten the future of the business.
3.6
Competitive advantage
Being the only functional business centre and printing press in the
proposed area, we hold a competitive advantage as we are close to
the administrative block and will have won the hearts of many
customers before any strong competitive challenge is posed.
SECTION 4: Growth plan and capital requirement
4.1
Sustaining the business
The market for this service grows constantly since we expect to gain
more customers rather than lose them. We intend to continuously
promote a customer-friendly attitude.
4.2
Take-up requirements
The take-up capital for the business to start is analyzed in Table 3
below.
100
30.
S/No.
1.
2.
3.
4.
5.
6.
7.
TAKEOFF STAGE
Business centre
Primary/immediate needs
Computer desks (locally made)
Computer sets
Photocopiers (one Rambo, printing 60
copies per minute)
Laminator
Scanner
Shredder
Refuse bins
Printers (laser jet)
Radio
Chairs (locally made)
Measuring rulers (plastic)
UPS
Stabilizers
Fans
Staplers (big and small)
AC (3 horse power)
Spiral binding machine
Customer pew
Perforator
Extension boxes and fuses
Computer covers (wrapper against dust)
Safes and vault
Pin remover
Calculators
Dictionaries (Oxford and Longman)
Water dispenser for staff
Telephone sets
A pair of scissors
Consumable items: ribbon, papers,
printing cartridge, toner, conqueror
papers.
Shelf
Total
Printing press
Primary/immediate needs
Printing machine
Fuel gallon
3KVA generator and Montan Plant
Tools e.g. screwdriver, spanner, etc
Shop
Signpost
Registration with local
printers
Qty
2
4
1 each
Cost
N2,500
N240,000
N1,400,000
1
1
1
2
2
1
5
2
2
2
2
each
1
1
1
1
each
3
each
1
2
each
1
3
1
-
N13,000
N9,000
N4,500
N200
N34,000
N2,000
N7,500
N200
N7,000
N10,000
N10,000
N4,000
c. N20,000
N12,000
N7,000
N5,500
N1,400
N900
N15,000
N400
N1,000
N3,400
N15,000
N20,000
N250
c. N60,000
2
1
Qty
1
1
1 each
1 pack
2 years
Once
N7,000
N1,905,250
Cost
N400,000
N250
N190,000
N4,000
N600,000
N3,500
N2,000
association
8.
Miscellaneous expenses
Total
N100,000
N1,299,750
Grand total
N3,205,000
Service
Receipt and invoice (100 in a pack)
Letter-head (100 in a pack)
Business card (50 in a pack)
Binding (price determined by volume)
Typesetting of one page (coloured)
Typesetting of one page (black and white)
Scanning of a page
Photocopy of a page
Photocopy of a page (with generator)
Design of logo
Total amount per month
Price x month
N2,500 x 50 packs
N4,000 x 30 packs
N1,200 x 2 packs
N80 x 500 pages
N50 x 1,000 pages
N100 x 100 copies
N5 x 4,500 pages
N10 x 500 pages
N250 x 5 types
N376,150.00
Service
Receipt and invoice (100 in a pack)
Letter-head (100 in a pack)
Business card (50 in a pack)
Binding (price determined by volume)
Typesetting of one page (coloured)
Typesetting of one page (black and white)
Scanning of a page
Photocopy of a page
Photocopy of a page (with generator)
Design of logo
Total amount per month
Price x month
N2,500 x 50 packs
N4,000 x 30 packs
N1,200 x 2 packs
N80 x 500 pages
N50 x 1,000 pages
N100 x 100 copies
N5 x 4,500 pages
N10 x 500 pages
N250 x 5 types
N376,150.00
Expenditure
N222,000
Leftover
N62,150*
and know which is best for you, not forgetting the business
environment. For a new business, the following are required.
1. Feasibility study
A study you carry out to find out the technical possibility, economic
viability and social desirability of a particular project or marketoriented activity is called feasibility study. The overall technical
requirement of the project is what the first part of the feasibility deals
with. Through this, you're able to identify the machine and
production technology needed for your desired business as well as
their sources and availability. The nature and sources of materials
needed for your business, skilled personnel as well as building and
spatial arrangement needed for proper installation, safety and
operation are taken into consideration under this finding or study.
Financial projection is the focus of the second aspect of the feasibility
study. It must address such issues as the capital requirement for
setting up the business venture, identify sources of working capital,
cash flow, profitability and otherwise, the market niche your business
wishes to serve, competition and how to handle it. The social
desirability of the project/business comes next to the financial
analysis. Through this, you can think through your plan and be able to
convince yourself that the venture won't fail. It is also seen as a sort
of impact evaluation aimed at measuring the intended and
unintended impact/outcome of your project and its effect on the host
community, as lack of concern for the host could bring your business
to a halt and lead to loss of profit.
2. Putting together the needed resources such as technology,
materials, personnel, etc.
3. Suitable location for the business comes next and such
consideration as nearness of raw materials/supply, market for your
product and laws governing such business must not be undermined
at this point.
4. Identify the market niche to fill, choose suppliers to deal with and
available sources of capital to tap from.
5. Set up marketing channels to use in distributing your products.
103
CHAPTER NINE
How do I manage the office and workers?
OFFICE/PERSONNEL MANAGEMENT
Managing the business
Once you have set up your business, the question of what next
naturally arises. This is where effective administration or office
management comes in. While your staff will be greatly involved in the
management, you have to do all their jobs before they are eventually
employed.
1. Establish office management routines and stick to them
If you want to be organized and keep things running smoothly,
routine tasks need routine procedures. Endeavour to set up routines
for handling paperwork and office systems. For instance, every piece
of paper that comes into your office should be handled once, acted
upon and then filed don't randomly pile them on the desk. Office
systems, such as computers, will need immediate attention. When
the system crashes or a computer-related piece of equipment fails,
everyone in the office should to know who to call and what to do to fix
the problem.
2. Keep records of your business activities
Keeping records is not easy but your business needs it. Try to make
updating records an office routine. When you get a new customer or
client, for instance, it will take you only a few minutes to store their
information in contacts database. And it will only take another minute
or two to update the record after you have spoken to them on the
phone.
3. Learn to criticize wisely
Once in a while, walk around the office and commend your staff for
something well done. The deepest principle in human nature is the
craving to be appreciated, says William James. Praise becomes
valuable only when you impart it, not when you remain silent about it.
Staff sometimes deserve to be corrected for acts of omission or
commission. Learn to always be in charge of your emotions. Don't
criticize someone while you are still fuming with anger; defer it. When
you finally decide on doing that, which of course is important,
endeavour to look for something worthy of commendation that the
staff has done, always does or is doing currently. Commend them for
it and then initiate your criticism with a view to achieve change or
improvement next time, and then conclude by briefly commending
them again. Criticism seldom works when done when done amidst
rage.
105
4. Post-interview concerns
a. Be prepared to use the record to decide the best candidate for
the position. (Do your best to recruit the right candidate since
it is known from experience that most interview candidates put
in their best, dress well and perform well on the interview day.)
b. Invite and make the job offer to successful candidate(s), notify
unsuccessful candidates of their 'status' e.g. via text
massages, negotiate the pay package with the successful
candidate and conduct an orientation.
c. During orientation, first introduce yourself to the new staff,
then introduce him/her to other staff using their designation
e.g. Ms, Dr. From experience, writing out the different stages
of the orientation will help far better.
d. Hand over a copy of the company handbook to the new staff. A
verbal explanation and emphasis of some points in the
handbook e.g. penalty for lateness to work, absence, French
leave, damage to company property, sexual harassment, etc
may be very useful.
HR policies
1. The Employee Handbook
a. Decide how the policies and procedures guiding the company
staff and management should be written or unwritten.
b. If it is written (which is more common and helps spell out
official rights and responsibilities), it should appear under the
title 'Employee Handbook' with the following, among other
issues, as its contents:
(i) Introduction: Mission statement, values and business
philosophy; company history, milestones and setbacks;
company's target market, list of services offered and
marketing plans.
(ii) Staff relationship: Conflict resolution; formal and informal
relationships; workplace romance; sexual harassment;
workplace violence.
(iii)Expense management and overhead costs: Travelling
allowance; estacode, per diem, etc.
(iv)Electronic communication policy: Use of the Internet,
company logos, photos and name; website maintenance;
copyright issues, etc.
(v)Representing the company: Media/public appearance;
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public decorum.
(vi)Employment and compensation policies: Office hours;
break; overtime; time records; pay period; transfers and
promotions; dress code; personnel records; confidential
information policy; theft of company property;
employment and kith's and kin's considerations; salaries,
allowances and bonuses.
(vii)Time-off policies: Vacation leave; sick leave; French
leave; public holidays; bereavement leave; conjugal
leave; maternity leave; study leave; exit and absence.
(viii)Employee benefits: Pension plan; insurance cover;
health insurance; loan and advances.
(ix)Employee safety policies: Safety rules; substance intake.
(x) Corrective discipline and termination policies: Open door
or otherwise policy; internal complaint procedures;
progressive disciplinary procedures; investigations and
searches; dismissal; resignation.
(xi)Other personnel matters: Job descriptions; organogram
(organization chart), etc.
Performance management
1. Development of a performance management system
a. Setting expectations/goals.
b. Ways of fostering coaching.
Training and development
1. Training and development
a. . New staff orientation and training;
training/retraining methods and programmes.
old
staff
Employee relations
1. Employee relations and retention
a. Fostering effective workplace communication: What
information to share with staff; extent of honesty with
staff; ways of communication to employees; means of
getting information from employees.
b. Reward and recognition plan: Ways of rewarding
achievements, maintaining work-life balance e.g.
telecommuting, flextime, job sharing and compressed
worksheet whether or not they will be permitted.
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terminating appointment.
b.Termination proper: Carrying out the termination; considering
resignation for termination.
c. Post-termination matters: Compensation and benefits; policy on
giving references to former employees.
Organogram
As you start a company, there will be need for an organizational
chart or organogram, which is a chart showing the different job
positions and who is responsible and answerable to each other.
Your organogram should be so simple as to show a staff his or her
position and department in the organization. Below is a sample
organogram.
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2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
job candidates.
Upon employment, it clarifies employer expectations for
employees.
Having worked in the organization for some time, it provides
a basis for measuring job performance.
For fiscal purposes, it enables pay and grading systems to be
structured fairly and logically.
For human resources, it is an essential reference tool for
disciplinary matters.
When considering better performance, it provides important
reference points for training/development areas.
It provides a structure and discipline for the company to
understand and structure all jobs and to ensure necessary
activities, duties and responsibilities are covered by one job
or another.
It provides continuity of role parameters irrespective of
managers' subjective interpretation.
It prevents arbitrary interpretation of role content and limit
by employee and employer as well as the manager.
Like the company handbook, job description is an essential
reference tool in issues of employee/employer dispute.
It provides neutral and objective (as opposed to subjective
or arbitrary) reference points for appraisals and
performance reviews.
It enables the organization to structure and manage roles in
a uniform way, thus increasing efficiency and effectiveness
of recruitment, training and development, organizational
structure, work flow and activities, customer service, etc.
It helps prevent duplication of jobs and clash of
responsibilities among staff.
MANAGER
Ensure the day-to-day running and success of activities in
the Organization.
Supervise the activities of the heads of departments.
Act as custodian of all Company property.
Act as signatory to all Company accounts.
Chair all management meetings of the Company.
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vi.
vii.
2.
i.
ii.
iii.
iv.
v.
vi.
vii.
viii.
ix.
x.
3.
i.
ii.
iii.
iv.
v.
vi.
vii.
viii.
ix.
x.
xi.
xii.
xiii.
xiv.
xv.
xvi.
4.
i.
ii.
iii.
iv.
v.
vi.
vii.
5.
i.
ADMINISTRATIVE OFFICER
Manage the day-to-day administration of the
Organization.
ii.
Carry out unit budget preparation and control.
iii.
May work with Human Resources Officer to
analyze jobs to delimit position responsibilities for
use in wage and salary adjustments, promotions
and evaluation of workflow.
iv.
Prepare reports including conclusions and
recommendations for solution of administrative
problems.
v.
Review and answer correspondence.
vi.
Ensure or direct such services as maintenance,
repair, supplies, mail, files and also compile, store
and retrieve management data using a computer.
vii.
Supervise the activities of the logistics unit,
especially the purchases.
viii.
May work with the Accounts Officer in preparing
the Company's budget needs and annual reports.
ix.
May collaborate with the Human Resources officer
to interview job applicants, conduct orientation of
new employees and plan training programmes.
x.
Analyze unit operating practices, such as
recordkeeping systems, forms control, office
layout, suggestion systems, personnel and
budgetary requirements and performance
standards to create new systems or revise
established procedures.
xi.
Collate and submit monthly reports of all
Administrative
staff to the Manager.
xii.
Report to the Manager and perform other tasks as
may be assigned.
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6.
i.
ii.
iii.
iv.
v.
vi.
vii.
viii.
ix.
7.
i.
ii.
iii.
iv.
v.
MARKETING MANAGER
Engage in the marketing of the Company products to
potential clients.
Negotiate and sign contracts between clients and the
Company.
Act as a veritable link between the Company and clients
in a way that endears them to the Company.
Arrange for hotel accommodation for marketing staff
during outings.
Immediately communicate each contractual agreement
with clients to the Managing Director for appropriate
action.
Report marketing progress to the Managing Director.
Arrange for the logistics and movement for every
marketing outing.
Work hard to ensure full implementation of contract
agreements with clients, such as payment to the
Company.
Responsible to the Managing Director and perform other
tasks as may be assigned by same.
MARKETING OFFICER
Engage in the marketing of the Company products to
potential customers.
Negotiate contracts between potential customers and
the Company.
Respond to customer calls by either inviting them or
meeting them in a manner that endears the customer to
the Company.
Act as the Company's positive image within and outside
the Company vicinity.
Report to the Marketing Manager and perform other
tasks as may be assigned by same.
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CHAPTER TEN
Are there additional things I need to know?
MISCELLANY
Maintaining your position
Every human being carries the candlestick of success within him or
her, which is often lit by some habits that must be cultivated over
time. In your success journey so far, you have noticed that in order to
steer clear of the hazards of penury, one must work hard. You have
also seen that laziness tends to poverty and that to amount to failure
in life, just sit and do nothing. So now that you are successful, you
need to acquaint yourself with one vital lesson how to maintain
your hard-earned position. Absence of this wealth sustenance
culture is the bane of many failed ventures and many grace-to-grass
stories. In your new position, one new concept that must find its way
into your consciousness and vocabulary is prudence. Prudence is the
ability to govern and discipline yourself by the use of reason; it is the
shrewdness associated with the management of affairs, the skill and
good judgment in the use of resources. To be prudent is to exercise
caution or circumspection as to a hidden danger or risk the risk of
losing your position.
Those time-honoured principles that once guided you while you were
learning savings must be revisited. Condition your mind to believe
you haven't yet arrived. As it was when you were in want, cut down
your list of parties and ceremonies and avoid a sybaritic lifestyle.
Unless there is an event, never be in the habit of setting aside
monthly budgets for entertaining visitors. Exercise restraint and
have total control over your desires since your financial resources
aren't limitless. More than ever, always ask to know why you need an
item you're about to buy. Never go for shopping on an empty
stomach, because you will end up exceeding your shopping budget.
Always make bulk instead of petty purchases of household goods and
discipline your family to do likewise. Maintain close ties with your
accountant-friends since they understand what frugality is about.
Don't always keep much cash at home.
Continue to remain steadfast in your conviction that not all wants are
needs. Having opened bank account(s), ensure you set a monthly,
bimonthly and annual targets of what percentage of your income
should go in. Among your accounts, make at least one a fixed deposit
as a defence against the temptation of frequent withdrawals.
Consider investing in realty and shares. During bargains, try to
forget you are well-to-do by haggling prices; don't accept every price
you're given. Then don't forget that being rich does not mean you
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2.
3.
4.
5.
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MEMORABLE LINES
MEMORABLE LINES
No one would remember the good Samaritan if he only
had good intentions; he had money as well.
Margaret Thatcher
In life always be prepared; no man sharpens his arrows
on the day of battle.
Paul Enenche
When preparation meets opportunity,
breakthrough is inevitable.
Anonymous
To ensure enjoyment does not shock you in
heaven, prosper on earth.
James Icheme
When hope folds its hands and looks back,
it becomes regret.
George Elliot
What separates the last man on the queue
from the first is time.
Anonymous
Prosperity can only be lasting if it is
based on justice.
Theodore Roosevelt
The desire of acquiring the comfort of the world hunts the
imagination of the poor, and the dread of losing
them that of the rich.
Alexis de Tocqueville
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125
Bibliography
Okongwu, D. and Saleh, U. Fundamental Issues in
Entrepreneurship, Apex Books, Lagos, 2004.
Jhingan, M. Macro-Economic Theory , Vrinda
Publications, New Delhi, 1997.
Davidow, H. and Utal, B. Total Customer Service,
Happer Perennial, New York, 1989.
Inegbenebor, A. (ed.) The Fundamentals of
Entrepreneurship, Molthouse Press, Benin, 2006.
Owualah, I. Entrepreneurship in Small Business
Firms, G-MAG Investments, Lagos, 1999.
Enenche, P. Seeds of Destiny, July edition, 2009.
Bobb and Delly G. The Word for Today, August,
September, October edition, 2009.
Napoleon, H. You Can Work Your Own Miracles,
Fawcett Books, New York, 1971.
Munroe, M. Applying the Kingdom, Destiny Image
Publishers, Bahamas, 2007.
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