By Ayo Emakhiomhe
We wish to start by wishing our readers a very wonderful new year full of business successes and joy.
we thank you for you readership last year and hope you remain with us through this year as we continue in our quest to actualise your dreams and implement your ideas.
CLIENTS/CUSTOMERS
Your customers/clients are the final users of your products/services.
You can raise money for your venture through them by being able to get them to pay for the product/service even before you provide that service or manufacture the product.
A good example is in the building industry. Here you can design prototypes of houses you plan to build with brochures covering the different building stages and then you get the client to pay for each stage of completion upfront.
That means that throughout the building stages, it is actually the client that funds the construction 100+X% where X is your profit margin.
Achieving this means preparing an otherwise perfect business plan/model and deploying your best marketing skills. It also entails ensuring that you keep your word and meet targets set by you and possibly beat them.
To employ any of the methods outline above, you must have already done your research/feasibility study and prepared a business plan. If you have not, please prepare that first before deciding which method or combination of methods will best suit your business plan and needs. If you do not have a business plan, you are like a blind man that wants to run a marathon with lots of dangerous obstacle courses and your competitors are fully sighted while you have not the slightest idea of the track.
Also, always Endeavour to start small; Even if you have all the capital to hit the high market with your product or service. Always start with just a small test first. Do a Test run of your venture before slowly releasing funds to grow it to size. By doing this you will see any small problems that otherwise would have been hidden by large outlays and your mistakes and losses will be small. Also, backing out if necessary will be at minimal loss/damage.
BOOK TO READ
Because a dream and enterprise cannot grow more than the owner/leader, we will always encourage you read a book, listen to a CD or watch a DVD on an entrepreneurial topic to open your mind and expand your horizons.
We in our own way will always suggest at least one in our posts starting with this post.
The one we are recommending today is
THE YOUNG ENTREPRENEUR’S GUIDE TO STARTING AND RUNNING A BUSINESS
By Steve Mariotti. Published by Three Rivers press, New York (2000).
It is available at very good book stands around.
The author can be reached at coinboxlimited@gmail.com or 2348023526682
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