Business Education Lesson Plans: April 2012

Set Your Goals and Live a Better Life

Set your goals and live a better life? This topic, no doubt, might look so mundane and quite unimportant to some people because they do not see any need for that once, in their own uncultured minds, they are living a normal life with easy access to basic necessities of life including food, clothing and shelter and by that, they feel there is no other missing link to common existence that should give them a cause for concern. For this set of people, it is not the life itself that matters but whatever goodness or sadness that is dragged to it.

Late Chief Obafemi Awolowo, the erudite Nigerian leader in his hey days in the country’s political arena was regarded by friends and opponents alike as a man with a plan just because of the unparalleled innovations he brought to social well-being of his people in the south-western part of Nigeria. The achievements including the first television, the first football stadium, the first radio station and many other things that could be regarded as day dreams in our part of the world in the early 1950s. As far as the late erudite chief was concerned, if you fail to plan you will always plan to fail no matter what your station in life may be.. Much as he tried to become the president of the country by elections on several occasions, he was vehemently denied the opportunity by the reactionary forces beyond his control and when he passed on to the world beyond, he was then generally recognized as the “President Nigeria never had”.

If you set your goals properly, you will then not be quite far from a better secured and rewarding future while freedom from wants, ignorance and poverty will take a definite flight from you. Whichever way one looks at it, setting goals is a very significant part of success and positive accomplishments and the phenomenon itself started from God almighty himself. This can better be buttressed from the way He created the seasons where we have the winter, autumn, spring and summer that are diligently arranged in such a way that they do not happen at the same time just like the morning, afternoon and the night.

Those who set their goals in the right way, no doubt, define quite a good parameter for wholesome achievements in life, since they should be able to clearly identify their starting point, mid-way assessment, how and where to adjust, and where and when to put an end to their efforts.

Goal setting normally allows for dealing with vital challenges that may affect the established focus along the line and will further provide the necessary means and ability to identify challenges as well as the solutions to nip them in the bud. Be that as it may, there will be no room for complacency or any fear of the unknown which are the characteristics of people without plan.

It should, of course be borne in mind that goal setting is just a means to an end and not the end itself, so by that very fact, it should embrace a positive outlook, self-discipline and unparalleled integrity. It is quite possible to secure a good blueprint and target, but if this is not accompanied by a very high discipline to make it work no positive result will be achieved.

To set Your Goals and Live a Better Life is not as not as difficult as you can imagine, the only parameter is that your determination to make it work must be very sound while your self-discipline must be far above average. Since there are millions of people all over the world that set goals and finally succeed in one way or another, there is no way you can be an exception.

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How to Enhance Business with High Turnover Strategy

There is no doubting the fact that the reason why people are in business is to earn profit but some entrepreneurs, particularly, in the developing countries falsely take it for granted that the best way to maximize their efforts is to sell their products at very exorbitant prices.

$0ABusiness development experts, contrary to this erroneous belief, are of the opinion that the surest way to enhance profit in any business concern is to, first of all ensure its growth in a gradual manner. This, can, no doubt, be achieved and sustained through a steady increase in turnover. They also admit that the rate at which a business entrepreneur replenishes his or her stock is the sure determinant factor for the scope of the business with especial focus on the profit margin.

Instead of running after higher profit margin with low turnover, it is quite advisable to sell the products at lower profit margins so as to increase the rate of turnover particularly for the fast moving consumer goods. A business man or woman who adopts the latter business strategy is in a better position to make progress in the effort than the former. In order to realize the expected growth rate, the issue of location has to be taken into consideration this is because a strategically placed business establishment can better attract more clients than those that are located in a more remote and inaccessible areas while the prices of goods are capable of either encouraging or discouraging buyers from buying a particular product.

It is equally a matter of fact that the increase in the rate at which a business man or woman fills the stock can entail an increase in the productive capacity of the establishment thereby attracting a competitive edge in his or her chosen industry. This will also help to realize surplus income from decrease in the cost of both labor and production.

Turnover is the rate at which stock of goods are frequently converted into cash for further purchases while an increase in sale can normally induce an increase in stock if the proceeds are ploughed back into the business. There is, however, link between an increase in the turnover and growth of a business endeavor while the higher the rate of turnover, the higher the growth rate. There is, of course, a strong connection between the rate of turnover of a business and its growth rate. If an entrepreneur sells more and ploughs back the returns back into the business, there is a better opportunity of increasing the profit margin that will lead to the growth of the business.

It is quite unfortunate that some business men and women normally allow their propensity for profit to lose sight of the gains that are accruable from this business strategy and this stagnates much of the efforts that can potentially contribute ideally to the economic base of the nation.

It will be wrong to assume that most business entrepreneurs are unaware of the fact that an increase in the rate of turnover will eventually lead to business expansion but rather they refuse to embrace it because of the culture of insincerity to which they are used. It is only when entrepreneurs adopt business strategy that leads to growth of their efforts that the national economic rediscovery can be attained.

You Must Start Your Own Business

You must start your own business in order to survive the current ubiquitous economic impasse that has been a great challenge to everybody, male and female, young and old in the current global quite awkward economic dispensation notwithstanding the fact that the fears associated with doing so are quite enormous.

Taking Nigeria for an instance, one may feel that it does not get easier in the country’s parlous economy where there are quite a number of uncertainties in infrastructure and security as well as the fear of the unknown which caps it all but still business thrives there for those with especial know-how and courage.

The concept of starting one’s business is no doubt, quite intimidating. There is also the fear failure, sourcing start up costs as well as while many other reasons normally come to mind and that notwithstanding, you must start your own business and eliminate those challenges as they emerge and finally, it will be possible for you to live a life more abundant for the benefit of your loved ones and the immediate society.

The state of the economy should not be the reason for one not to embark on a matter that will make one to be self-reliant for a life time particularly these days when white collar jobs continue to be out of easy reach so starting your own business can surely provide a safety net or rather a hedge against the unknown future..

If you start your own business the right way, it will be easy for you to generate more income for yourself without having to depend on others for survival or worry about the stress and pressure from anyone since you live solely by what you earn. This will make it possible for you to work at your own pace and also have adequate time for your family and do what you like at the time you want without anyone breathing on your neck.

It is quite obvious that with adequate preparations, planning and focus anyone can actually be successful at a self-owned effort and the reason why you must start your own business right now cannot be overemphasized since it is the best assurance for the grandiose life-style that your family and you deserve..

There is no reason to use the parlous economy as an excuse but as a means for motivation and determination to live a better life. You start off by finding a passion which you must develop and market and in the end it will be glaring to you that the financial stagnation induced by the current global economic impasse will have an insignificant effect on you and also on your purse. Surely at a point, you may just wake up one morning and realize that you do not have to be an employee under anyone again.

The only point here is that before you venture into any profit making business, it is necessary to have adequate fund that will support you for a considerable length of time right from the planning stage and also reduce your budget for entertainments and other social engagements. You should also conduct a good number of feasibility studies and test run your efforts in order to check the profitability. It is also necessary that you must ensure that your recurrent domestic and public utility bills are well taken care of and also keep something aside for unforeseen circumstances. There is no doubt that there are challenges to face along the way but the end always justifies the means and that is why you must start your own business without further delay.

I am Ade Adenekan, formerly a Conference Officer with the erstwhile Organization of African Unity (now the African Union) for over half a decade. I have also, all along, been a Communications Consultant.

This piece, no doubt, is my widow’s mite contribution to resources on economic self-reliance particularly for the grassroots populace these days of global economic meltdown through the Internet.

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Five Good Ways to Maximize Your Home Business Opportunities

Eking a living to one’s satisfaction is so Herculean today that it is only someone with the wrong mindset that will not embrace the succor the home business and how to maximize it for a life more abundant. This is because; the current global economic meltdown continues to make a mince meat of people’s regular income no matter how big. This is because after paying the inevitable bills of accommodation, children’s school fees, mortgage and other social responsibilities, just a little remains to be set aside for the much dreaded rainy day.

Thank goodness today that the information and communication technology is now filling the yawning gap that make people smile to the bank. It is quite a great irony of life that so many people want to joint the Internet money-making bandwagon but are quite oblivious of how to go about it and that is the main reason for proffering the five good ways by which you can maximize your home business opportunities.

1. The will-power.

Since nothing good ever comes easy and home business not an exception, there must be a very strong motivation and the will power to succeed in the efforts no matter the odds. Whether your purpose is to earn an extra income, saving for a dream vacation and so on, all you need do first is to put your ideas on paper, draw up a plan and follow it to the letter.

2. Good Internet connectivity:

With your workable plan in place, the next step is to secure a computer with high internet connectivity in order to facilitate your efforts. If this is not possible for financial reasons, good use can be made of the public cyber-cafes for a start on information searching endeavor.

3. Right business attitude:

Getting the major right tools i.e. the computer and the Internet in place, the next thing is to work on one’s right business attitude through one’s present skills and interest. The next step also is to check the websites that offers good information of the range of opportunities for successful home business and here search engines like Google, Yahoo, Bing and a host of others will be of tremendous assistance towards the cause.

4. Calculation:

Once you have been to secure helpful information from the websites to help you move along, the next thing is to review the opportunities once more and see if you are ripe to move ahead in your bid to secure a good home business. This will enable you to identify your financial needs and how to secure them. It is then up to you to decide how many hours a day you are to put in the efforts since the failure or the success depends on no one but you.

5. Life time career:

Since this is a matter of input and output, you should put everything in you to it, set your own hours of work from which you must not entertain any distractions otherwise you might not achieve the expected results in a record time.

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