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OWN YOUR OWN is an entrepreneurial empowerment project designed to teach how to start, grow, manage and profit from a business in Nigeria.
TODAY ON OWN YOUR OWN: HOW DO YOU TREAT YOUR CUSTOMERS?By Frontiers Consulting on Fri, 17 April, 2015 09:39:46 AM.
Total Views 936. Comments: 0
Customers are very important to every business for several reasons. Without customers there will be no one to sell products to, there will be no revenue and the business will become unnecessary. Customers will make enquiries, come with complaints, demand attention, and at times, just want to do some experiment with you. If customers are so important, it therefore implies that they must be treated well.
How then should we treat customers? As entrepreneurs, what should always come to mind whenever we think of customers? What should be our predisposition to customers, especially when they have complaints to make or issues they want us to resolve for them? What skills should a good customer service person possess? Let us consider the following facts & tips:Read More
TODAY ON OWN YOUR OWN: TOO BUSY TO LIVE A BALANCED LIFE?By Frontiers Consulting on Thu, 16 April, 2015 10:16:05 AM.
Total Views 1029. Comments: 1
Most entrepreneurs, especially the younger ones, are just too busy. On the average, very busy entrepreneurs work between 45 to 80 hours per week! Some business people are so busy they don’t have time to enjoy life at all. Unquestionably, hard work is a basic necessity irrespective of whatever we do for a living, especially for entrepreneurs. However, everyone, including entrepreneurs need to live a balanced lifestyle. How then can one strike a balance between working so hard and also living the good life that allows us enjoy the fruits of our labour?
The following points can help us strike a balance between living right and working as hard as we ought to:
PRIORITISE: Not all the things that we get busy with are important. As business people, we must have a scale of preference in mind when entertaining, tackling or working on issues. Have a to-do-list. Let the most important things that cannot be left undone top your list and leave the less important issues at the base. Our families should also be part of our priorities. This is fundamental to living a balanced work life.Read More
TODAY ON OWN YOUR OWN: SETTING THE RIGHT PRICEBy Frontiers Consulting on Wed, 15 April, 2015 10:23:50 AM.
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The price of a product should be of utmost importance to a business person, especially because it is the element that generate income for the business concern. If you price too high, turnover may be low. If you price too low, you will incur heavy losses and, eventually, may have to close shop! How then can one determine the appropriate price? What are the factors that one must put into consideration when pricing one’s goods or services? Let us consider the following factors:
COSTS: All variable and fixed costs associated with the production of a product (be it a good or service) must be put into consideration before a price is attached to such a product. Such costs include raw materials, electricity, transportation, packaging, etc.Read More
TODAY ON OWN YOUR OWN: DO YOU WANT TO SUCCEED?By Frontiers Consulting on Tue, 14 April, 2015 01:11:35 PM.
Total Views 1188. Comments: 2
Success in life demands a number of requirements; it doesn’t just happen. In the same vein, successful entrepreneurs have certain things in common. Amongst the qualities that successful entrepreneurs possess are the following:
POSITIVE MINDSET: To be successful as an entrepreneur, you must believe in yourself, the business you intend to run (or that you are already running), and in the setting that you find yourself operating in.
PASSION: You can never succeed if you are not passionate about what you do. Successful entrepreneurs love what they do. They are happy while working. Rather than succeed, you’ll only be struggling if you’re not passionate.
TODAY ON OWN YOUR OWN: CONQUER YOUR FEARS, START YOUR OWN BUSINESS, NOW!By Frontiers Consulting on Mon, 13 April, 2015 02:03:46 PM.
Total Views 1235. Comments: 6
Many people are afraid of leaving their current paid-employment jobs to start their own outfit or to own a new business. Others, who are retiring also, often nurse some degree of fear with the idea of establishing their own businesses. Nevertheless, there can never be a better experience than that of being your own boss. Let us consider some reasons why you need to start your own business:
PASSION: The moment you reach a level whereby you feel so terrible thinking about your job and you discover that nothing about your current job excites you, especially when you wake up in the morning and it feels so terrible just remembering that you have to go to work, you need to know that this is a clear indication that you need to change course.Read More
TODAY ON OWN YOUR OWN- SELLING ON THE INTERNETBy Frontiers Consulting on Fri, 10 April, 2015 08:23:48 AM.
Total Views 1407. Comments: 1
Business today has gone beyond the traditional buying and selling, which was typical some decades ago. Businesses that must keep abreast of the latest technological advancements cannot afford to ignore the Internet, especially now that the world is indeed a global village. The convenience and penetration the Internet offers is a major quality that businesses exploit in carrying out their daily operations, especially in retailing.
As an entrepreneur, there are certain things you must put into consideration to succeed while doing business on the Net. Among these factors are the following:
GET A WEBSITE: A beautifully crafted internet presence in the form of a website is undoubtedly a very strategic way of selling your products online; that is your online store.Read More
TODAY ON OWN YOUR OWN- WHO IS AN ENTREPRENEUR?By Frontiers Consulting on Thu, 09 April, 2015 11:53:36 AM.
Total Views 1880. Comments: 1
Several people today refer to themselves as entrepreneurs. Unfortunately, however, most of such people cannot give a correct definition of the term. Perhaps the starting point when venturing into entrepreneurship is to really understand who an entrepreneur is. Let us examine some exciting definitions of the word: Entrepreneur.
According to the United States Small Business Association, an entrepreneur is “a person who organizes and manages a business undertaking, assuming the risk for the sake of profit.” The Association explains further that an entrepreneur: sees an opportunity, makes a plan and starts the business.Read More
TODAY ON OWN YOUR OWN- WHAT SHOULD A NEW BUSINESS IDEA LOOK LIKE?By Frontiers Consulting on Tue, 07 April, 2015 04:13:41 PM.
Total Views 1649. Comments: 1
Having a new business idea is not enough to guarantee success. As an entrepreneur, one must consider the efficacy of the ideas that spring up in one’s head before jumping into conclusions. Just before you start to strategize on how to execute or turn your ideas into reality, it is important to note the following:
NECESSITY: Is your business idea necessary? Is it an idea that proffers a product or service that people really need? If you sell your idea, will people buy it?
STRATEGIZING FOR IRRESISTABILITYBy Frontiers Consulting on Thu, 11 September, 2014 05:18:10 PM.
Total Views 2736. Comments: 4
Why are you in business? What is the purpose of your business? Do you have a quality strategy in place to keep customers coming back? Do you know who your customers are? These are some important questions to ask when evaluating your overall strategy.
Many people think that the purpose of a business is simply to make a profit, but this is not the case. All the efforts of a successful business are aimed at creating customers in some way. Profits are the result of creating and keeping customers in a cost-effective way over time.
The cost of creating customers initially is very high. The cost of keeping them is far lower than the cost of creating them in the first place. If you study the companies that are the most efficient at marketing, you will find that their strategies are all aimed at creating customers and then holding ontoRead More
BUSINESS START UPBy Frontiers Consulting on Thu, 11 September, 2014 08:40:35 AM.
Total Views 3033. Comments: 5
Starting your own business and being your own boss can be incredibly satisfying and fulfilling.
The idea:For every good idea you have, there are hundreds of people out there who have the exact same idea.
A prudent approach is to research your idea from top to bottom looking to see if your idea already exists. If it does, it’s certainly not the end of the world. Simply ask yourself if you can find a unique angle or a different, better approach to the idea.
Investigate the economics of the idea. Is there a good business case or model? Are other people that are pursuing the same concept making money?
Finally, you will want to know if the idea is legally protected. Is there a patent issued or pending?Read More
SOME THINGS TO CONSIDER BEFORE MOVING FROM PAID TO SELF-EMPLOYMENT.By Frontiers Consulting on Mon, 11 August, 2014 03:22:10 PM.
Total Views 2988. Comments: 2
While it may be tempting to jump now, your leap into entrepreneurship will be a rough one if your starting position is off. It has nothing to do with the economy and everything to do with the way you set the stage for your transition to full-time entrepreneur.
Here are some scenarios that will put you at a disadvantage if you don't address them before you leave your 9 to 5:
Do you still think like an employee? Have you developed the habits of mind to think like a business owner? Are you prepared for the isolation, to make tough decisions about your priorities, time, and money? Have you been actively learning the skills and traits that differentiate a business owner from a hobbyist? Have you planned out the goals and marketing strategy for your business or are you jumping out of emotion - the excitement of having a new idea. Take the timeRead More