Qudus Fasasi
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Case Study:
Question
I plan to use my Bplan to get funding for my business, but I'm afraid if I show it to some investors, they might steal my idea, you know that's like my blueprint, you know?
What can I do?
My Answer:
-commerce
I want you to pause a bit, reflect and answer this particular question š
What Do You Want to Be Known For?
Donāt gamble about it, just give your straightforward answerā¦
You see, most entrepreneurs or business owners doesnāt have an aim theyāre looking forward toā¦Vision, mission, objectives are just zeros.
Thatās the reason your business is not moving forwardā¦And, you also donāt have personal improvements.
Have a vision you looked up to and wear it like your glasses daily so you can see through itā¦
For instance, what you want to be known for could beā¦
If youāre Digital marketer, your reason could be
āI want to be known as Marketing Guru for e-commerce stores in Nigeria.ā
Someone elseās case might be
āI want to be the go-to expert in forex trading.ā
And so onā¦
That itā¦ Itās not hard to do, donāt give it too much and just answer it.
What book are you reading currently š¤?
Let me recommend one for you š
Read this book
āThink and Grow Rich by by Napoleon Hillā
This book would be helpful for anyone considering launching their own business.
Highlight:
The book is packed with practical information that you can put into practice immediately to achieve your goals in life and of course, your business.
Using examples from his own life, Napoleon Hill shows the efficacy of a positive mental attitude and explains strategies for overcoming insecurities and lethargy.
Pro tip š:
The best way to benefit from Hill's exercises is to do them while reading the book and to return to it several times.
Set Goals ā Create Systems āļø
How many times have you heard āSet goals and achieve your dreams!ā? Maybe youāve lost countsā¦
Now, let me ask you this š What made you achieve your goals? Of course, itās actions_series of actions which in turn creates system for achieving your goal.
A goal tells you what you want to happen, but a system makes it happen step by step through actions.
Goals are powerful because they tell your subconscious what to work on. They also help guide your conscious decision-making, but a goal without a system for knowing what to do and doing it; is just a wish. Systematically moving toward your goal will get you there far faster than knowing what you want with no plan for achievement.
Let me explain further what I mean by setting goals and creating systems. For example, my goal might be writing a book, but the system in achieving this could be to write 1,000 words every day. If I write each day, the book almost writes itself. I have a process for achieving what I want. If I do the work, only time separates me from the vision of writing a book. Along the way, I may learn I need grammar software, an editor, and a publisher in my book writing system. I may learn that best-selling books have specific topics and that authors promote their books on podcasts and Amazon ads. My job would be to work my system; this is a far different process than writing a goal.
Another example can be that, you want to get fitā¦ Your system could be 20 minutes of exercise each day Or if your goal is to read twelve books this year? Reading ten pages daily might be great for achieving your goals.
Itās about taking the goal from the equation and focusing solely on the process. Transform your goal into a system. Take it from a vision to systematic action.
Donāt just set a goal; set a system to achieve your vision.
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If you are talking with a client the first time, the first meetingā¦
Donāt be desperateā¦meaning, being _sale-sy_
š„
Small Business: How To Get Funding For Your Small Business
Without adequate funding, it can be said that, a business will have a hard time to grow, survive and eventually becomes non-existence.
Funding is an important aspect of a startup. When you have funds, you can talk about growing your business, getting the necessary items your business need to get running and others.
So, practically, you need funds to get your business runningā¦
When seeking funding, it's important to have a solid business plan, a clear understanding of your market, and a compelling pitch to present.
Below, I shared 5 easy ways to get funding for your small business:
1. Personal savings: Consider using your personal savings or assets to invest in your business. This shows your commitment and dedication to potential investors.
2. Friends and family: Reach out to friends and family who may be interested in investing in your business. Clearly communicate your business plan, expected returns, and risks involved.
3. Crowdfunding: Platforms like Kickstarter, Indiegogo, or GoFundMe allow you to showcase your business idea and raise funds from a large pool of individuals interested in supporting innovative projects.
4. Grants and competitions: Explore government grants, industry-specific grants, or business competitions that offer financial support to startups. These opportunities often require a well-crafted proposal or participation in a competition.
5. Business incubators and accelerators: Joining a business incubator or accelerator program can provide access to funding, mentorship, and resources. These programs often require you to pitch your business idea and go through a selection process.
Other higher resources that could be of help includes, bank loans, SBA loans, micro finance institutions, seeking angel investors and venture capitalists.
Now you know 5 easy ways to get funding for your small businessā¦
If you like the post, comment and share š¤ ā¤ļøš¬š
5 Daily Hacks To Become Betterā¦
As an entrepreneur, there are many activities going on everyday with youā¦starting from your personal life to your business life.
Youāll feel overwhelmed at times, get tired and wanting to quit. You can overcome these obstacles by practicing some simple techniques to be a better version of yourself and make your business better.
I practice the following simple life hacks everyday to combat the stress, pain and depression that comes along with being an entrepreneur
1. Planning Your Day The Night Before
This is one hack I never missed, because it actually determines what Iāll accomplish the following day.
I set goals and prioritize tasks the night before, which gives me a clear vision of what needs to be done.
I do this by jotting down the tasks for the next day, prioritizing them, and setting realistic goals.
2. Waking Up Early
Waking up early sets the tone for the day. Thereās a saying āEarly to bed and early to rise makes a man healthy, wealthy, and wise.ā ā Benjamin Franklin
Donāt deprive yourself of sleepā¦ I have alarm for for almost all the hours in the day telling me specified task that needs to be done.
3. Staying Organized š°ļø
āFor every minute spent organizing, an hour is earned.ā ā Benjamin Franklin
To be frank, I donāt do any major task until Iām well organisedā¦ Thatās my principle š
4. Staying Focused
Staying focused is one of the hardest thing most people find difficult to do in todayās world.
Minimize distractions, take regular breaks to rest your mind, and practice mindfulness. Youāll accomplish tasks more efficiently and effectively by training your mind to stay focused.
5. Using A To-Do List
My phone to-do list is having over 25 active reminder and close to 500 pending to-do notes savedā¦
A to-do list serves as a visual reminder of what must be done. It helps manage your time, reduces anxiety about forgetting tasks, and gives a sense of satisfaction when you tick off completed tasks. Make it a habit to create a to-do list every day. Prioritize the tasks and tackle them one by one. Youāll find your days becoming more productive and less overwhelming.
6 Ways to Make Money After Your Day Job
āļø Offer a service
āļø Create a product
āļø Monetize an audience
āļø Explore reselling
āļø Sublet an asset
āļø Be financially fabulous
How-To Guide: How to Find Your Niche
Many marketers talk about niching down and finding that one type of person who is the perfect fit for your product or service, but there's a trap hereā¦ Be guided!
One thing you should definitely know is this, picking or finding a niche is NOT usually about YOUā¦ itās about your target audienceā¦
Know this, know the
So, the first thing Iāll implore you to do is āDefine Your Goalsā¦ā
What do you want your business to be?
What is its purpose?
What do you want to accomplish through it?
Some entrepreneurs start a business because it seems like a nice alternative to a normal job (word of advice ā you may want to think harder about this). Others want to build a fortune. Yet others want to change the world. None of these reasons is better than another, but if you want to build a business that generates $1M per year and makes you a nice living, you're going to focus on a different niche than if you want to create a $1B business that disrupts an industry. Therefore, the first question is, "What do you want?"
Now, youāre ready to move to the next step āFind your zone of geniusā¦ā
When I say, Zone of geniusā¦ I meant *area of focus* in which the combination of our experience, skills, knowledge and interests allow you to do amazing things ā things that appear magical to others.
To find your zone of genius, start by listing all the things you're at least halfway good at. Then, look for combinations that are unique to you.
Let me give you an example, when I was finding my niche, I decided to work with potential entrepreneurs who are having it difficult to plan, start and operate a profitable businessā¦ meanwhile, I also had the hope of working with large companies, but I needed to build my portfolio and experience first before targeting them.
You can also take into consideration your personal interests. For example, if you love baking cakes and pastries, youāll find out youāre really performing well in that niche.
What is your zone of genius? Where can you leverage your knowledge, skills and experience to make the biggest impact?
The last thing Iāll tell you is thisā¦ āIdentify your target audienceā
Who is your ideal customer? If you could have an unlimited number of customers, but only one type of customer, how would you describe them?
You might say, āI want to work with any or all persons/businesses that need my products/services,ā but, do all persons or businesses want to work with Jack of trades? Of course, NO. And, I know such entrepreneur will find it hard to get clients.
One of the ways to find your ideal audience of customers is to look at YOURSELF.
Say for example, you followed some processes to get visa to UK and eventually became a citizenā¦ maybe your ideal audience is someone who want to get visa to uk or those who are already there and want to become a citizen too. In serving them, you would be able to serve from a place of deep experience and authority.
In conclusion, the ultimate goal is to create a market of one. A market of one is when your ideal customer only has one option ā you. As entrepreneurs, the closer we can get to creating a market of one, the more profit we can produce, which allows us to invest and serve our customers better, improve our relationship with them and make an impact on the world.
By finding the right niche for you, you'll be one big step closer to creating that market of one.
Hope youāve got some value š?!
A new week to hit your targets šÆā¦