By @WPPraise
I would love to reiterate
again because I’ve said this before and I will say it again. THIS IS THE BLACK
MAN CENTURY. That means this is Africa time. And Nigeria is going to be one of
the driving forces behind this phenomenal transformation that’s happening in Africa
this century and beyond. It’s already happening. If you live abroad, is easier
to be blinded by Western stereotypes and media bias toward Africa.
So, open your eyes very
well and make sure you invest back home. Buy as much land as you can, they don’t
manufacture them anymore. Think property investment.
If you’re waiting until
everything is perfect in Nigeria before you invest at home it might be too
late. All the juicy opportunities would have been taking.
Don’t give up on Nigeria/Africa;
the next big thing is going to come out of Africa. This is the best time to get
involved and put your foot somewhere. The Western world is not a place for an
African, Nigeria for that matter to get old. For those of you who are not old yet don’t
make the mistakes some of our grandpas in the Diaspora made, growing too old
and then realized in your old age you would have do things back home when you
were younger.
In Africa we grow old with
grace while in Western world you grow old with regrets and isolated, lonely and sad, treated as
a burden while in Africa old age is treated with reverence.
If you are in the Diaspora,
and you try to do business at home and never succeed before due to incompetency and irresponsible behaviours
of family members, friends – those you trusted who let you down, and you are
discourage, I encouraged you to try again but this around try this business
management ideas listed below.
Soon, I will do a comprehensive
publication on list of reliable, trusted Crowd Funding businesses you can invest
in Nigeria right now with good return, hustle free at the comfort of your home
in Europe, America, Lagos or anywhere else in the world and you can be rest
assure your capital is secured and you can gradually turn your money around.
Alright
here we go:
IDEA
IN BUSINESS MANAGEMENT IN NIGERIA
1.
Businesses are established not only
for financial profits (cash) but also for economic profits (non-cash), which
may be to provide employment, your sister, or to make name, etc. establish
which one is more important to you.
2.
If you live outside Nigeria never
hire a family member or relative to run your business.
3.
Don't hire anyone who comes to you
advertising him/her or begging for jobs.
4.
Hire people through a thorough
interview process like a real company does. They'll respect the job more.
5.
Do not pay salaries. Share the risks
by paying only commissions (usually 10% on sales, or about 40% on profits.
6.
Commission on sales is more
motivating for hard – working people.
7.
You can also pay a base +
commission. Anyone who cannot live on commission is not business – minded. After
all the owner lives on profit only.
8.
Have a Bank account with a
Microfinance bank (they help small businesses more) not a commercial bank.
9.
Every dime made must be paid into
the bank (and withdrawn if needed) to build cash – flows in case you need loan
someday. They should take pictures of bank slips and receipts of purchases and
WhatsApp/Telgram you immediately the transaction is done, also CCTV camera will
help you monitor your business anywhere in the world.
10. Use WhatsApp/Telegram/Facebook etc to stay
connected and on top of business. These apps can transmit instant pictures of
events & real – time chats as if you are there.
11. Be ruthless, professional, and out rightly
non-sense with Nigerians. A lot of fraudulent crappy people out there.
12. You may take a bank loan to share
the risk with a local bank, and let part of the loan be management TA
(technical assistance), so the bank can provide their own manager to run the
bakery professionally as a partner.
Every receipt must have the seller's or buyer's phone number on it (not hand – written). Make random calls each month to audit or confirm transactions. If they know you call sellers and buyers, they will shape up.
Every receipt must have the seller's or buyer's phone number on it (not hand – written). Make random calls each month to audit or confirm transactions. If they know you call sellers and buyers, they will shape up.
13. Be
patient! Anything is possible in Africa if you are not in a hurry. But a business setup in January is not supposed
to be making profit by now o! It usually takes about a year or more to make
profits.
14. On marketing use established re – sellers who
buy in bulk and pay cash –
15. Supermarkets, bread sellers,
restaurants, shops, etc. Don't sell directly to people yet.
Please, please, please, hire a lady as a manager, preferably
an educated married lady with kids. That's the only thing that works in
Nigeria. They may be slow, but at least they won't loot your funds.
Williams Patrick Praise Jr
Williams Patrick Praise Jr
author/inspirational speaker
(from Iwaegbe family)
WPP Jr
Editor/Publisher
