Boost Your Financial Freedom by Social Networking

It is quite normal that at the beginning of a New Year, majority of people all over the world make far reaching resolutions that will make them turn a new leaf not only in the next 365 days ahead but also for the rest of their sojourn in this side of the great divide. Some people, too, put their new ways of life for the months ahead in black and white as a guide in case they want to go out of order as the days emerge in order to ensure that they maintain a strict adherence to their conscientious intentions, while for others the resolutions are as good as the papers wrote them or their verbal pronouncements.

The major areas in which some people look forward to having a change of focus include human relationship, peaceful-coexistence, occupation, profession, behavioral influences, alcoholic consumption, abstinence from drugs, financial irresponsibility, closeness to spiritual matters, political alignment and participation, social patterns and many more areas of human endeavor.

It stands to reason that making plans for the new year is regarded by some people as taking the first step in the right direction for conscientiously correcting whatever mistakes (both deliberate and inadvertent) they must have severally committed during the out-going year taking into account the common saying that failure to plan is planning to fail woefully. The need, therefore, to plan big for the months ahead at the eclipse of the outgoing year in order to make a strong impact in the society cannot be overemphasized.

Since some people are naturally introversive, they always find it difficult to mix socially with those outside their immediate environments and all they need is to throw off the shackles of self-pity and recluse in order to harvest from the copious benefits of social networks. There are people, as well, who find it difficult to make friends easily because of poor or inferiority complex that have been their bane for so long and all they need is critical analysis of themselves and endeavor to break the intuitive iron complex in order to move ahead since it is not possible for one to be an island to oneself.

Building relationship, no doubt, is a priceless skill that can transform one to a great popularity and all one needs to do is to begin by helping people solve their common personal problems, respond to their yearnings and aspirations as well as making sure that they are trustworthy, surely they would be sought-after personalities all the time. Whichever way one looks at it, there is no way one can wholly succeed in any task without the support of others and that is the reason why social interaction in all areas of human endeavor is a matter of must in today’s world.

Whatever what one wants to achieve in life, connecting with people all the way is a high profit yielding venture, even if it is a matter of employment, large number of people have secured good jobs through the people they know and relate with either their pastors in the church, friends in the locality and even close or distant relatives. And if it is self-employment, it is the network of people that one relates with that can help one to stand on good footing through patronage after all, it is the little drops of water that make the mighty ocean.

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Getting wide exposure from online advertising

Today, there is no doubting the fact that the greatest ever growing opportunity devised by mankind for its development is the information and communication technology and right from the last decade into this new millennium, it has contributed in no small measure to the way social interaction is conducted. The rate at which the devise has skyrocketed the clientele for any business be it, small, medium or large scale is so much to write home about since both the young and old upwardly mobile members of the society are the highest beneficiaries of the facilities it continues to produce day in day out.

The Internet gradually becomes the cheaper and quite affordable means of selling products or services owing to the high degree of interaction it offers between service providers and their ever growing customers. Mr. Bill Gates, the founder of Microsoft Incorporation in the United States got it right when he said sometime ago that, “In some years, all businesses shall be on the net, because you are either on the Internet or you are out of business” and that statement becomes glaring every degree of the day since he made it.

This is more glaring today since companies are hit every now and then by the ubiquitous economic recession, thereby leveraging the power of the Internet which now boosts businesses to a very high point and help in no small way to keep them steadily afloat. It is quite cheaper to advise business online because of the high effectiveness than the traditional methods since the online adverts remain longer with high focus at the right quarters.

Web users, no doubt, have access to unlimited information on their area of concentration so it remains the greatest resource medium for small, medium and large scale business promoters. Right now, business on the web is an assurance of unlimited exposure for both products and services while it is also an opportunity to build a first class space on the Internet. This is quite incomparable to what you get offline since the scalability is so high once you know what to do exactly.

The benefit of online advertising normally includes instant publishing of information and content and not limited to geographical contraption or time while the return on such investment is very high. Internet marketing relates to steps, strategies and methods applied to sell products or services profitably on the Internet with repeatable and automatic systems that creates an environment where people are induced to buy a product or service.

The common ways to advertise online include: cost per impression, cost per visitor and cost per click. Cost Per Mille (French word for ‘thousand’) is when advertisers pay for exposure of the message to a specific target. This is calculated per thousand impressions or loads of an advertisement. CPM costs are priced per thousand impressions. In most cases, some impressions are not counted because of a reload or self clicks.

The cost per click is also known as pay per click. For this method, advertisers pay each time a visitor clicks on the listing which is normally directed to another website. This method allows advertising specialists to refine searches and gain information about the targeted market.

Apparently, online advertising in this era of global economic melt down is a very indispensable tool for business success since the economies rise and shrinks the need for a highly profitable advertising cannot be overemphasized. Be that as it may, it is necessary to be well informed of search engine optimization (SEO) which is the keyword for a profitable online advertising. Obviously, knowledge about writing SEO optimizes results while it pushes products and contents to the people who will be eager to buy them.

While it is true that that the Internet technology is rapidly growing and changing, online advertising still relates to the normal basic principles of physiology, self-actualization, self-esteem, security and social needs which do not always change during a global economic recession.

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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.

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Setting up a Business Venture with Zero Capital

The very harsh effect of the ubiquitous economic global melt down continues to take an incredible toll on the social and economic life of the people worldwide with the attendant consequences of job loss and financial insecurity while the only option left for any right thinking person is to find another means of securing a better means of livelihood and this is in no other area than business.

Setting up a business as a means of survival is, today, no longer a child’s play and this is the reason why all available legitimate avenues must be sought for one to make a remarkable breakthrough in the effort. One must not jettison the idea of moving ahead just because of the Herculean task of sourcing the needed loan from the bank, personal savings or the existing financial institutions but should always apply the workable ideas and personal attributes. A good case in point is that of a young man in downtown Lagos who started his career life as a banker and later on a computer engineer by exposure. Today, he earns additional thousands of dollars as income through his affiliation with a Blue Chip Furniture Company that he single handedly set up with a zero capital.

This is a testimony of how a business idea can metamorphose into a reality in spite of the normal finance sourcing challenges. Right from the onset, he was quite aware that getting a loan facility from bank or any financial institution has never been a piece of cake since the first thing they normally ask for is collateral before securing the loan which must be paid back with a cut-throat interest. In some cases the rate is around 25 per cent and if one does not have adequate customers to make good sales during the lending period, the pressure to pay back the loan can be quite worrisome.

Immediately the young man graduated from college in 1992, he was employed by an audit firm from where he moved to a computer company as an accountant. It was while at this company that he got the idea that one might not need a huge capital to start a service providing company and so in less than a year, he had acquired all that he needed to know to set up a private Information Technology company of his own.

With a very strong conviction and determination to succeed, he started with a table and chair, converted one of his two rooms into an office. All he had in his possession is just one laptop computer. He started by moving from school to school to sell the idea of Information Technology to the proprietors. This is with a zero capital and within three years, he became popular in the education sector of the environment. The first Information Technology program he conducted for schools in 2005 embraced more than 100 participants while he used the income so generated to acquire more furniture, computers and other vital tools to enhance his work.

Just in six months of operation, his IT center grew astronomically and that afforded him the opportunity of getting a building of its own and also a number of vehicles. Now, the business has over 40 schools as clients some of which pay an upfront fee of 50 per cent with the balance paid fully after the program. Some new clients might not be willing to make the initial deposit but once they see what had been offered, they feel happy and pay up immediately after the program. The most important factor here is to build confidence in clients and everyone on your way; this is an inevitable determination of the lifespan of a good business venture.

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OFFSHORE MARKET: A HARVEST OF OPPORTUNITIES

Yes, Nigeria is worth a try!

Are you in search of a sure way to grow your business be it in manufacturing or service oriented, it is better you beam your searchlight on other communities or countries where the demand is very high. In this instance why not look into the services export which remains untapped in Nigeria.

The common definition for service export is the sale and delivery of an intangible product like a service between the producer and the consumer. This relates to an interaction between producers and consumers that are located in different countries while the interactive process is called international trade in services.

The services, although invisible, are geared towards playing a very important role to make easy all aspects of economic development, infrastructural processes like transportation, communication and of course, financial services as well as the support for any kind of business to grow. In this regard as well, educational, health and recreational efforts promote the quality of labor available to business establishments. In this vein as well, professional services are meant to induce specialized expertise that engenders companies’ competitiveness in the market.

A service exporter, to be successful, should possess a niche offering in terms of something that differentiates the individual or firm from others in the industry. Since services cannot be inspected before purchase like a common commodity, clients depend on referrals and endorsements when selecting their service providers therefore a key to successful services export creates credibility in both the local and global markets.

Services firms can gain global credibility by joining international professional associations or through listing in international directories. As an insight on the available opportunities in services export for Nigerians, according to Mr. Femi Boyede, the International Trade Centre Consultant on Services and International Trade Strategy, told the Punch about three weeks ago that one should look well into the Information and Communications Technology, travels and tourism, transport and recreational services among others.

“Under the general agreement on trade and services, he says, services are divided into the following broad sectors: business services (including professional services, information technology related services, research and development, communication services, construction and related engineering services, distribution, education, (banking and insurance, security, health, social services, travel and tourism, recreational, cultural and sporting as well as transport services.

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