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Entrepreneurship

How to Develop a Proper Mindset For Business Growth

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Thousands of businesses have come up and an equal number have gone down. The success and the failure of the businesses have been studied by the analyst and they have come out with all sorts of theories to reach the conclusion which generally are attributed to natural calamities or market change. These results are based on studies that have been done for decades. Where one might say that these studies are true and the results accurate, they fail to see the light. When someone is starting with some business, the preliminary step is to think about the whole plan of action that will be undertaken for reaching the desired goals. This planning is the basic foundation has the capability to make or break all efforts. Unfortunately, this is exactly where people loose. They take planning for granted.

The plans are required to include various factors like the field of operation, the target people, the location, the promotion and marketing, the expansion, the insurance etc. All these things test the planner’s, i.e. the owner’s thoughts and abilities on research. The field of operation is chosen by the owner, so are the people to be targeted. The Location is selected by him himself and the expansion is based on the expected growth that is an outcome of the marketing plans made by him. Insurance against a peril is a responsibility whose onus lies only on the owner.

Related: 7 Mindsets of Successful People Which You Must Cultivate

Since everything comes back to the owner. They have little to blame for. The future of the company completely depends on their hands and the way they work and think. If the company becomes successful in the future, it is due to the good skills and the proper care taken by the owner and if it fails, it is because of the irresponsible behavior on the entrepreneur’s behalf. If there is anyone, it is the owner who takes the credit or the blame.

What needs to be done is to make plans that are competitive in nature. If the owner is incompetent in doing so, it is best to hire someone who knows about it. Taking hasty measures would have short term gains but would end badly in the long run. At times, it has been observed that they do not progress because when starting the company, the owner had placed stringent measures to safeguard the interest of the company. In order to grow, there are some risks that need to be taken. But again, the risks should be calculated ones and again, the onus lies in the hands of the owner to successfully gain the maximum out of it.

The mindset, with which the entrepreneur works, is what really makes the difference. If the mindset is to reach the summit, the execution is done with the positive frame of mind keeping all the possibilities in sight and not taking anything for granted. If the mindset is wavering, the implementation suffers causing deviation from the work plan and the outcome is another name in the list of companies that started but failed.

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Business Ideas

How to Start a Creche and daycare Service in Nigeria

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Daycare or creche is a school where young children such babies and toddlers and so on who basically cannot take care of themselves without adult supervision are kept during work hours while their parents are busy with the day’s work.

This is a kind of classroom setting where these young children can also play, learn, rest and properly taken care of by their handlers. Keeping them busy till the end of the day where their parents will pick them up.

The Opportunity

The demand for creche and daycare centers is high on demand especially in the urban areas in Nigeria. Quite a lot of mothers have full-time jobs with no chance of handling their child as they work as the child could be a distraction. Therefore they seek daycare centers to keep their children till they close from work. With the increase in birth rate in Nigeria, create opportunities for creche and daycare centers in the community. Most primary schools right now provide the nursery arm for their schools so the parent can keep their child for the time they’ll be at work.

Who is the business for?

This business is for individuals who love children and are great at taking care of them regardless of their attitude. However, the challenging part is, you are always going to need to keep the children safe and away from harm’s way. If you have basic experience in taking care of children may be while you were teaching in a nursery school and any form at all, you can open a daycare center

Related link: How to State a Crude Oil Business in Nigeria

Marketing

This business is very easy to start, you can begin from the comfort of your home as your directly approach working-class mothers in your environment, church or any gathering at all, telling them the type of service you render.

If you intend to rent a space, make sure the location is strategic and smoothly accessible by your target clients. After that you can print handbills with colorful design and start sharing with existing clients, telling them to also tell their colleagues at work. As you do that and also offer great service by taking proper care of their children, you will keep getting more customers.

Needed Items

To start up your daycare services, you’ll need the following:

An Apartment

Small Chairs

Small tables

Toys

TV set

VCD player

Bookshelf

Kiddies books and stationery

How much profit can I get from the Creche Business in Nigeria?

Every other business depends on some relative factors but in this service, you charge the parents per child. For example, if you have 20 enrollment, and you charge 5,000 Naira per child, that’s a total of 100,000 Naira in your first month.

Breakdown of earning for the first year  (Estimation)

50 enrollments X N100,000 = N5 million

Running expenses (rent, salary, electricity etc). You can get profit before tax of over 1 million Naira with an investment Return of over 40%

You can continuously run this business for years without any need of visiting the bank for a loan.

8 STEPS TO START A DAYCARE BUSINESS IN NIGERIA

  1. Study about the operations needed for a Daycare business

There’s a need to have an in-depth knowledge of how to run a daycare business. This is beyond having a passion for children. You can have a passion for children and may not have the technical knowledge of responding to children in certain situations. To get this knowledge, you need to study and from materials which are available online and you can also have a discussion with other daycare owners for tips which has been helpful to them.

  1. Have a business plan

If you desire to start a daycare business, you need to map out a strategic plan to guarantee the long-term success of your daycare business. It may look insignificant but writing the business plan will really increase your chances of the business being successful.

See also: How to Start a Crèche Business in Nigeria

Not only does the business plan keep you organized, but it will also help you stay focused on achieving the set goals and launch your business into a successful one.

  1. Find a location with childcare safety in mind

The next phase is to find a good location. One very important factor that is key to a successful business is to find the right location. For example, any one of wants to sell clothing for winter certainly won’t consider West African countries as a location unless they risk going out of business.

For a winter clothing line, you can open up in countries like Canada, Russia, etc. Therefore if you want to open your daycare business, it is important you choose the right location for good business.

Furthermore, your location should be equipped with the required safety equipment such as fire extinguisher, smoke detector, first aid kit and so on. This will show professionalism and attention towards safeguarding lives and properties.

  1. Select a good name for your daycare business

When you have selected a good location which is hazard free in a safe environment, the next stage is to select a good name for your business.

When selecting a name for your daycare business, you must select a name that is short but creative and child-friendly.

  1. Get a business insurance

Adequate insurance protection is another important requirement when setting up your daycare business. If you’re starting off from your house, you will need theft and fire insurance.

You must also secure yourself legally in case any unforeseen accident occurs such as the death of a child or something tragic.

  1. Equip your daycare center

Provide the necessary items which can make children happy as they play with them such as games, blocks, puzzles, arts and crafts, DVD players, TV, toys and so on. This will make sure the children have fun and feel relax without any worry or without missing their parents while they are at work.

  1. Hire employees for your Daycare Center

You can’t run a proper Daycare center without having experienced and dedicated staff to assist in maintaining the business. Although it’s great to promote your business and invest in marketing without a good team to help maintain the order of things in the business, it could be dead before it already started.

Most Read: 7 Keys to Start Freelance Writing Business in Nigeria

Therefore seek for experienced and hardworking individuals who also have a passion for taking care of young children. You may also need to interview each applicants to identify the individuals that fits the requirements.

  1. Advertise and promote your daycare center

Tell the world about your business, use the internet, use social media, tell your friends and you might be lucky to get noticed and start having clients. If clients are satisfied with the operations of your business, you might also start getting referrals from them and your business begins to expand in popularity, clients and more funds

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Business Ideas

How to State a Crude Oil Business in Nigeria

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How to State a Crude Oil Business in Nigeria

Best Way to Start a Crude Oil Trading Business in Nigeria

This is a business which is very profitable, it is form of business in which a lot of persons are making millions while others are earning billions from a monthly to a yearly basis but there are regulations but after explaining some facts to you, you will also figure a way out to tap your own and join the league of successful people.

Related: How to Start a Crèche Business in Nigeria

When you hear discussions about crude oil, the mind is focused on PMS (fuel) and AGO commonly known as diesel

If you have no capital, to begin with, and you want to be among the millionaires in this business, I  will reveal to you the strategies to use because this business is here to stay as long as more cars are being produced, as far as the regular unstable power supply continues and the continuous production by industries, petrol or diesel will always be needed and you can make your millions.

There are other products from crude oil and one of it is bitumen which is used for road construction

How to Make Profitable from Crude Business

1) Crude Oil Extraction:

2) Renting of Equipment:

3)Oil Refinery/Petroleum Processing

4)Petrol Hauling and Organization

5)Setting up a Gas Station

6)Kerosene Household Peddling

7)Consultancy services

8)Running a Media Program (Tv or Radio)

9)Internet News Blog

10)Oil and Gas Investment

10 Best ways to make gains from Crude oil Business:

1) Crude Oil Extraction: You can carry out extraction of crude oil in partnership with the government and this is dependent on if you have the necessary equipment and facilities then you’ll get compensated by the government. To get to this level of partnership with the government, you need a license and to be accredited, you a huge capital and a knowledgeable technical team because without a license of operations, you risk being jailed.

See: How To Start Cement Distribution Business In Nigeria

2) Renting Of Equipment: You can provide petroleum equipment and place them on the lease. You can set up your renting outlets and rent your equipment to companies and make lots of profits from them.

3) Oil Refinery/Petroleum Processing: You can make millions if you have the capacity to set up a refinery company in which petroleum companies bring in their extracted crude oil for processing in your company. Although as stated earlier, there’s a need to register and get licensed. One more important thing is the payment of tax to the government and the failure to comply may lead to a shut down of your business. You can begin with 50 million nairas and partner with people who have more money so the logistics aspect can be taken care of.

4) Petrol Hauling and Organization: This deals with the transfer of fuel, gas, and (or) lubricant from one gas station to the other. This is one of the most profitable business at the moment in Nigeria and it is commonly known as gas hawking where you get petroleum or diesel from the refinery and supplying the product to substations to make your money.

There’s no expiration date for petrol and can be stored for a long time even when there’s high demand for it when scarce, you can decide to sell at your own price but still at an affordable price for everyone.

5) Set up a Gas Station: One other way you can make good money from this business is by operating your personal gas station. Filling gas for cars and other vehicles and provide kerosene which can be used for cooking for individuals who cannot afford a gas cooker.

6) Kerosene Household Peddling:  There are households who sell kerosene using automated pumps from their big tanks. The sell kerosene with this pump to prevent waste and for accurate measurement. You can buy this product in wholesale and sell at an affordable price or price similar to the gas station to the individuals in your area.

7) Consultancy services: If you have the proper training in this business and have the full understanding of the operations in the business, this could through the university or certain certified professional courses with adequate practical experience, you can set up a personal consultancy service where individuals can inquire about directives regarding the business. These individuals will offer you money for the knowledge they’ll gain from you.

Related Post: How to Come Up with a Business Idea: 5 Proven Steps

8) Running a Media Program(Tv or Radio): With an outstanding practice and experience, you can create educational programs in this field on television, teaching people the operations in the oil industry and business, conducting interviews and carrying out live reviews, giving answers to complaint and questions. On this program, you can share ideas with the listeners and mostly young entrepreneurs especially those that would love to build up a career through the oil and gas industry. With a program, it could attract top oil and gas companies for who would love to shave their paid advert on your program, bringing more money to you and getting more oil and gas information to your active listeners.

9) Internet News Blog: If you’re really connected to latest happening in the petroleum industry you can start blogging about it with latest news, vacancies, and you may sell out quality guides on how to go about the business and may start advertising things on your blog especially if it’s very popular. Brother, sister this is another way to earn from oil and gas business, so if you have the connections to get your pc and get ready to blog for money. Turn your ideas to wealth today.

10)  Investment in Oil and Gas: There is no need to afraid of investing in your money in other oil and gas companies. Stay alert to credible oil companies and buy their shares so you can become a stakeholder and they begin to grow and make profits, you also get your percentage

Most Read: How to Get a Job in Federal Mortgage Bank of Nigeria (FMBN)

I believe this few point has stirred up your mind to take a chance in the oil and gas sector, invest and make money. The oil business is very lucrative and business can be done anywhere in the world as long as roads are still being built and vehicles are mobile.

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Business Ideas

How to Start a Crèche Business in Nigeria

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10 Requirement for Opening a Creche in Nigeria

Creche business means the daycare services or pre-nursery center where special attention is given to children from age one to six. Crèche homes are the best place for moms who are extremely busy and have little time to handle their child because of work and some other activities that may not include children.

These centers are the alternative to hiring a housemaid despite the realities and myths which arises from issues due to housemaids. However, both have a risk and the pre-nursery center are mostly common especially in the urban area where there is high demand from work and moms cannot handle the pressure of the kid and the work at the same time. Therefore, they seek for handlers especially in the crèche centers to take care of the child till they arrive from work which is mostly by the end of the day.

See: How To Start Crayfish Business In Nigeria

With this, there is an open market for minders for potential customers in the urban area where setting up a creche center would be a lucrative business. Fortunately, this business is very easy and to be successful in this business, an individual need some possess some characteristics which includes being nice, selflessness, flexibility and so on. Although the job is highly demanding and needsa person who pays great attention to the smallest detail, watchful and vigilant.

Requirements For Smooth Running of A Creche Business

1. Get Proper Training

Although there are some specially gifted people who have a passion for childcare and naturally make children feel safe and have no thought of missing their mom notwithstanding, a certification course in child service and parenting can you an advantage above others.

See Also: How Profitable is Cooking Gas Business in Nigeria

Getting professionally trained exposes you to certain knowledge which can only be gotten through learning and this learning can be done formally and informally or through online courses. The important thing is to get certified by a professional body or an institution.

2. Hire Good Staffing

The operations in this business cannot be done by one man and surely needs more hands to assist in the operation of the business. For the business to be effective in its dealings, you will need to employ the services of qualified and passionate staff to assist in the smooth operation of the business.

It could be from people you know or familiar with or through personal recommendation because the demand for the job is so high to be handling the whole operations. Each worker will be given specific duties to carry out and you supervise, monitor and coordinate them as they watch over the kids.

3. Installation of Facilities/Equipment

There need to be the provision of appropriate lighting, sports facilities, toys and other fun utilities at the center in which children can play and enjoy themselves.

You must provide a lot of items which they can play with in order to satisfy their urge andenthusiasm. Arrange the playing facilities based on age, class. Make sure that objects around the play area are not endangering the lives of the children and such objects includes sharp knives, blades, etc. which should be kept far away from the reach of children.

Related Post: How To Start Petroleum Products Selling Business In Nigeria

Hire a trained electricianto install the lighting and also to fix the equipment for playing. This is important in order to prevent the risks of slip, fall, damage, and injury. Remember, when you take better care of the children, your clients recommend you for their friends, leading to potential clients and more money.

4. Pay Attention to Feeding

Children need to eat well in for strength, vitality, and growth, they need to be fed with an adequate diet.Provide them the proper snacks and rationalize the feeding time. Meals fed must be highly nutritious spicy. Kids fancy colors. Colorful snacks would inarguably serve as a useful item during the learning.

Furthermore, this method kids can equally learn about the basic colors while eating. Snacks with alphabetical lettering can be fed to the kids and through them, they can learn the letters of the alphabet.

5. Get Good Security system

Constant security is a must at the crèche business center.It is easier to manage the population of children when small but as it gets bigger there is a need for the presence of security personnel at the center.

Put everything inplaceagainst child trafficking, theft, harm, and injury.

6. Do a Proper Market Survey

Doing a proper market survey is necessary for every business. Its importance in creche business cannot, therefore, be overemphasized.Avoid rush and plan for the future. Market survey will help you with information onsuch things as special children needs, parents/guardians needs, materials and methods, siting, power supply, and market availability.

7. The Place of Advertisement

For people to know about you, you need to create awareness about what you do and unless a business advertises tothe public, it may never be seen. The best way to achieve this is, by developing an effective, advertising and marketing strategy. You could use the means of posters, radio jingles talk shows, online adverts, flyers and/orbillboard. Properly carry out the survey and use the most creative and effective marketing strategy and promotion tool available to create a staggering engagement towards your business which is not beyond your budget.

8. Do the Effective Feasibility Study

Carry out proper research and do your findings, as it was discussed above, it will enable you tobe sure of the basic requirement for the business startup, challenges, and possible solutions.

9. Have Enough Capital

This business is capital intensive and you need money to buy equipment and provide necessary facilities, leasing and renting of space and recruiting of staffs. There is a need to register your business name and place adverts using the business name in order to create awareness. This aspect, is usually well-documented when drafting the business plan.

10 Choose Your Desired Business Location/Siting

A proper creche business tags along with a proper venue or business location which comes with basic government regulations and laws guiding the sitting and running of crèches centers. However, a befitting creche location must be neat, conducive and calm. choosing your creche close to business areas and offices gives an advantage as it would be very easy for the parents to easily check on their children and wards and pick them up after closing from work.

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