THROWING WEIGHTS AT BUSINESS FINANCIAL DECISIONS

This is one funny but good topic that describes the character of careless spending in business environment. The implication of this is the huge difference between a successful and unsuccessful businesses.

In the business environment, opportunities and challenges confronts everyone everyday. Hence, its one thing to recognize these opportunities/challenges and it is another thing to grab or manage them successfully.
This topic will focus on throwing weights at recognized opportunities and challenges only.

If opportunity are available conditions that will favor an economic entity if judiciously utilized, then challenges are threat that will affect negatively, an economic entity if not properly managed, yet the truth is that both opportunity and challenges work hand in hand and they are both inevitable.

A view to expand your business is a type of opportunity which comes with a lot of challenges just like start up. Sometimes, it is financial requirement of the expansion, sometimes, it is capturing market size to sustain such expansion (to mention in few). Whatever the opportunity or challenges is in your business environment, its all about how you manage it.

So what exactly does throwing weight means in making business financial decision?
It can be described as a situation whereby caution is thrown into the wind while making business financial decisions. An organization that has managed to accumulate cash reserve retained from its operations profit and comfortably sitting atop its economy may wish to embark on an expansion project which it wouldn’t be constrained by finances as it has enough as reserve. Most often, such comfortable looking organization often make the mistake of not making adequate evaluation of various choices they could have taken to best improve their financial position after embarking on such project.
The 2 major common mistakes include:
1. Not Evaluating the project itself. Would it bring additional worth to the business or organization.

2. Not considering the financing options apart from using up reserve I.e which is better; obtaining loan or using cash reserve.

An organization that disregard this is throwing its financial weight around and its probable to fail soonest in fulfilling its financial obligations.

Should all cost hence be clinically evaluated before incurring them including the little day to day expenditures. NO. Clinical evaluation takes time and delays decision making. Hence, expenditures that warrants quick response are mostly recurrent expenditures and should be planned and provided for over a short period of time say, monthly.(You may use an imprest system) These cost should be evaluated so as to control miscellaneous spending but no matter how urgent that capital expenditure (investment) is, do not throw that weight. Evaluate it over the short and long term to make rational decision.

To evaluation for short term benefit. This should be done with regards to how the investment is financed. If financed with reserve, is the organization or business remain liquid to sustain its other financial obligations. If financed with loan, can the business withstand the burden of the loan. Would interest repayment not overwhelm the solvency of the business?

To evaluate for the long term benefit. This should be done with regards to know if the investment would bring additional economic worth to the business in future.

Conclusively, to avoid a disastrous business expenditure, avoid throwing financial weights on expenditures. Let your financial position not impair your judgment.

For more tips, read other series from us at STP Consult
Other series from STP
A sure way to revive Low sales
Hiring a Manager-what you need to know 
Small and medium Business to start with little or no Capital
Obtaining a loan for your business, the right term, right lender, right time
Reasons for business failure
For more information concerning Business/management solution and for Business Partnership.
contact us at STP Consult.
Icon house, bs oyinkansola fs. Olorunsogo. Ibadan.
stpnigeria@gmail.com
08060788184,07054150336
2B4A00E5

EFFECTIVE ADVERTISEMENT- MAKE THE GAIN WORTH THE COST

Hello reader, it’s been a while since I last posted on this blog. Let’s blame it on inspiration that went on strike.

Recently, I was in the printing section of STP (STP Prints) when I heard the advertisement on air. (Something I love doing). It was the advertisement of a business centre that sells phones and accessories but after the advert broadcast, I could not find a reason to visit the organization. This is not because I do not need to buy a phone as at that moment or because there are lots and lots of phone stores I could easily buy a phone from or because I could get one from STP Store, but because the advertisement didn’t give me A GOOD REASON to visit the business centre after spending a large amount of money on such advertisement.

From here, I wish to discuss exactly what I have been trying to say. Advertisement is one very important and essential aspect of any business organization. Not only that you need to INFORM prospective customers of the fact that you have what they need but also the fact that it is used as a means of keeping aloft, the good name and existence of the business in the ears of customers (one good reason why large organization advertise), the bitter side of it is that, advertisement comes, most often with an inevitable cost which could even ruin a business if not strategically managed and for this reason, no organization is licensed to toy with advertisement.

Haven said much about the advantages of advertisement; the aim of this topic is to inform business owners how to make the cost you spend on advertisement count.

Here are the basic steps you may study if you wish to justify advertisement cost

1. While planning, recognize and make a list of your target market or who your prospective consumers are. If you sell health products, bank should not come first on your list neither should Health centre come last.

2. Recognize the best, easiest means of getting the attention of the target market. There are one thousand and one methods of advertising which include media advertisement. Notwithstanding, it’s still the best of all. (T.V advert, radio jingles, newspapers, magazines, Program, Bill board, Long list of it all, etc. Recognize the one that best catches the attention of your target consumers.
N.B Remember, everybody knows about the dailies but not everyone read the dailies.

3. Make a priority list of the GOOD REASONS why your prospective customers should even contact you at all. These GOOD REASONS are basically the advantage your product or services have over other brands in the market which is of benefit to the consumers.

4. Whatever means you have decided to make use of, EMPHASIZE more on the GOOD REASONS you have previously highlighted.
This will help to attract the attention of any one of your prospective customers that has been listening but not paying attention and also it causes audience to act.
If you are making use of banner for your advertisement, ensure that your Product and services are of a very large size on the banner, rather than the name of your business which they will know later after buying your product.
The only good reason a business name should appear larger than the product or services on a banner is
(A.) If your organization or product already has a Good Name in the market.
(B.) If the name describes your business activities at first sight e.g. Almighty Catering Service.

5. The next thing to be emphatically stressed in your advert is your Contact. Do not leave your customers in the dark of how to contact you, neither should you make the communication of your contact snappy.

6. Finally, design your advert to speak for itself. Give every detail of the advert all it needs to convince a customer to patronize you and ensure it has the following qualities of a good advertisement.
(A.) Sincerity
(B.) Effective targeting
(C.) Enlightening
(D.) GOOD RASONS
(E.)Memorable
(F.) Attractive to grab attention
(G.) Entertaining and persuasive

Following the above tips should really help your business.

For more tips, read other series from us at STP Consult
Other series from STP
A sure way to revive Low sales
Hiring a Manager-what you need to know 
Small and medium Business to start with little or no Capital
Obtaining a loan for your business, the right term, right lender, right time
Reasons for business failure
For more information concerning Business/management solution and for Business Partnership.
contact us at STP Consult.
Icon house, bs oyinkansola fs. Olorunsogo. Ibadan.
stpnigeria@gmail.com
07054150336, 2B4A00E5

Akinsola Jegede
Business/Project Consultant
STP Consult (Managing Business-Supervising Projects)

—A SURE WAY TO REVIVE LOW SALES AND LOW PATRONAGE

Here is our token for the new month of september, wishing you success in your endeavor.

A SURE WAY TO EARN/REVIVE LOW SALES TURNOVER

Very often, despite the fact that some businesses produce, sell or provide a unique product or service,most of them are sometimes unfortunate to have a down turn or low sales turnover or patronage for their unique product or service.

Also, despite the fact that the idea behind a product/service launched into the market is too good to be turned down by the “market (prospective customers)” because it is “A UNIQUE PRODUCT”, yet, a lot of these unique products have turned out not to be patronized.

Naturally, a “unique product” should sell itself with little publicity effort but at times, the market feels reluctant to try this unique product hence, this article aim to proffer solution to business that is experiencing low sales turnover for their unique product or services.

A UNIQUE PRODUCT OR SERVICES

Be it an entirely new product, concept, idea or an existing product in the market, a unique product must have all or some (but not limited to the list below) of the following qualities to be called a unique product.

1. Properties/functions: – If a Product has a special function that makes it different from other similar competing products in the market, it is unique in that sense of function specialty. For example, the blackberry messenger on blackberry phones is an example of uniqueness in the telecommunication industry making blackberry phones a unique product.

2. An improved quality: – Quality of a product may be defined in its durability, performance or standard (to mention in few). A product that has a quality, better than that of competing product in the market is deem to be a unique product especially if this quality is above the industry standard. Hence consumers that have taste for quality would rate this type of product as unique.

3. Price and quality advantage for consumers: – A unique feature of a product may be seen in its quality and price advantage to the customers. If the market price of such product is lesser than other competing products and still maintains a good quality (because the higher the quality, the higher the market price), such product is unique in that sense.
The above qualities, if found in your product, may be classified as a unique product.

At this point, if your product is not unique in any form, the proffered solution in this article is not the best option for your product.

Briefly note the 2 major reasons why sales of unique product may not follow its natural sales pattern

1. If the uniqueness of the product is not required by the rational consumer (For example, the uniqueness of a “temporary shaving stick” lies in its durability. Who needs it to be durable when it’s meant to be used once and disposed thereafter)
2. If the extra features added to this product has differentiated it from similar competing products but also made the product to be more expensive than the prices of similar products in the market
Take a pause here, if your product doesn’t have a unique quality as discussed above, you may read no further.

The Proffered Solution to Revive a Low Sales Turnover

When all other marketing strategies have failed, and the impossibility of marketing a unique idea beacons, one sure solution is the aggressive form of advertisement (although it is rarely used because of its cost implication which shall also be addressed in this article.)

Mostly, businesses utilize a Soft method of advertisement so as to maintain a low cost to enhance profit but when a unique product, where all it needs at inception ( when it is newly introduced into the market) is for the customer to give it a trial and their consistent patronage is guaranteed, that has no choice than to sell isn’t selling,

Aggressive Advertisement is a very good option of persuading buyers to have “A TASTE” of the product and when the uniqueness of the product has been enjoyed from the customers judgment, a market have just been established for such product.

A soft/conservative method of advert only covey its message to prospective customer “IN BRIEF”, leaving the prospective customers to know the name of the product and the usual thing they know about such product. For example, an advert for a unique type of sugar that only conveys the message that “the sugar is sweet”. No new feature or benefit over other sugar in the market, so whenever prospective customers need this product, they rarely think or remember the newly and softly advertised unique product and they rather go for the usual product.

That is exactly the type of message usually conveyed by conservative advert.), but an aggressive advertisement as oppose the conservative method is the type of advertisement that is aimed at choking, frustrating and strangulating (and other bad words you can think of) the market to patronize the product. (if you agree with me, It is the type of advert usually used by a young man trying to woo a lady). It is the consistent persuasive form of advert.

Talk of Aggressive Advertisement, it bothers the mind of prospective customers.
Everywhere they go, south, east or west, you find the advert there and resorting to go north, you still find the advert there, boldly engraving its message with the features and its uniqueness over other usual products (definitely without mentioning names of other similar products).

With this, the market (prospective customers) is left with questions in their mind and not to bother much, how to take up those advantages offered by the unique product that has been aggressively advertised is the ultimate answer that the customers’ questioned mind will provide.
Within a short while, the gentle customers will give it “a no going back” trial but the stubborn ones are not easily convinced, but with time, they will surrender with the fear of being left out in the new mbrket fashion. TECNO market for example used aggressive advert to penetrate the market for their unique product in Nigeria. KONGA is using this type presently.

The major motive of aggressive advertisement is to persuade the prospective customers to give your unique product a first trial. Therefore, ensure that your product is so unique that once tried, customers will never back down on it, to ensure consistent patronage after the first trial.
Notwithstanding, Aggressive advert comes with a huge financial cost.

How to Account for the Cost of Aggressive Advertisement.

Large Organisation
Accounting for the huge amount of aggressive advertisement in Large Organization poses no much difficulty than to charge it as an expense, just as advertisement would rank normally like salary. It will be set out against the profit made for that year.
Although the cost is huge but it is not usually a material cost(so huge that it could overwhelm the profitability of the company. For example, N500,000 cost of aggressive advert in a company worth N100,000,000 is huge but not material)

Small Organization.
Accounting for the huge amount of aggressive advertisement in small organization posses a little difficulty because the cost of aggressive advertisement can overwhelm, not only the profit of small businesses, but also the existence of such small business (For example N500,000 cost of aggressive advert in a business worth N2,000,000 is very material because it can overwhelm the periodic profit and existence of the business ). Hence it is advisable to capitalize the huge cost of aggressive advertisement (this can be done by treating this expenses the same way you treat the cost of your operational machine-Long Term Assets. But this cost, if capitalised, should be seen as intangible asset, just like Research cost or goodwill) and for the benefit of taxation, you may present such cost for capital allowance or you write it off from time to time against the yearly profit of the business (either of the two method will be allowed by your revenue service. Although, they are not general accounting practices and cannot be used by large companies to prepare their financial statement but it is no crime for small businesses to use the method).

NB- if your product is not unique, aggressive advert is never cost effective for your business because such product will still be in perfect competition with similar products and a large market share of such product is not guaranteed for such regular product.

With this, I hope your product enjoys a smooth ride all through the market.

For more tips, read other series from STP Consult – we manage business and supervise projects
Other series from STP Consult
Hiring a Manager-what you need to know 
Small and medium Business to start with little or no Capital
Obtaining a loan for your business, the right term, right lender, right time
Reasons for business failure

For more information concerning Business/management solution and for partnership, contact us at STP Consult.

Akinsola Jegede
Business/Project Consultant
STP Consult (Managing Business-Supervising Projects)
Icon house, bs oyinkansola fs. Olorunsogo. Ibadan.
stpnigeria@gmail.com
07054150336, 2B4A00E5

—LOAN AND YOUR BUSINESS-THE WAY AROUND IT

LOAN AND YOUR BUSINESS–THE WAY AROUND IT

Regardless of so much hassle and tussle of obtaining loan and maintenance of loan (interest yielding loan), Loan is still an advisable and a very good source of finance for business operations, most importantly, a profitable business because of its tax implication on the profit generated and it is usually the first thought of aspiring business owners in starting up a business (often before considering the Interest expenses and forecasted profit of the proposed business)
Interest burden is a discussion for another day but definitely, the possibility of “loan burden” overwhelming the success of a business is a real phenomenon and this topic aims to enlighten business owners on THE RIGHT TERM and THE RIGHT TIME to obtain a loan in a bid to prevent against excessive loan burden.

THE RIGHT LENDER
Lender (different from borrower), is referred to as the person granting a loan to another party (they include commercial banks, Development banks, Micro finance banks, cooperative societies e.t.c) and it must be stated that in obtaining a loan, some Lender are usually a wrong option to a particular type of loan. Every kind of loan has its suitable lender just as a square pole is for the square hole.
This is to say that, if you need a loan to finance agricultural business, contacting a commercial bank or a mortgage bank is obviously not the best option but contacting a Development banks (e.g Nigeria Agricultural, Cooperative and Rural Development Bank) is a bright choice. A short term loan and Medium term loan, although can be obtained in commercial banks but it is most advisable because of interest burden to get it from the Micro Finance or Cooperative societies. While a long term loan can be obtained in Commercial banks because of the huge amount involved.

THE RIGHT TERM
Terms of loan include the interest rate, capital repayment, interest repayment and other conditions as may be required by the lending Bank and usually, it is difficult for borrowers to be granted loan on their own convenient terms but the opportunity here is that terms offered by banks varies from bank to bank .
If the average lending rate charged by banks (lenders) is 20%, then the banks shall grants loan at the rate that hovers around this average rate (20%). This gives borrowers a chance to weight their options among these banks and settle for the most convenient option (i.e Term with Low interest rate and longer repayment time) and other terms of the loan could be negotiated, like, deferring the re payment period, reducing the interest rate.
It should be noted that practically, Negotiating terms with banks does not often work out as explained above because borrowers are seen as the one in dire need of the loan, and even after ensuring you have presented an amazing proposal and a very good collateral security, this factor has left borrowers with two choices- Take the terms of the bank or Forget about granting you the loan.

THE RIGHT TIME
It is shocking to reveal that starting a new business fully financed by loan ranks as a potential BAD IDEA (few exceptions). Reasons explained thus;
-Repayment Burden VS Business Growth:- Realistically, loan repayment is mostly required to be made starting from the first month of acquiring the loan but a newly set up business is most likely not going to be making gains or even income to make up for the repayment for the first few months of inception and even if the whole income could make the first few month loan repayment, it implies that whatever repayment that is being made at this point is made out of the capital borrowed and not out the profit assumed to be generated as often mistaken by business owners, that as long as the income could make repayments, the business is healthy.
-Returns on amount Invested (loan) in new business VS Returns on amount invested in existing business : – An amount invested at the beginning of a business generates low income considering low Popularity and patronage of new businesses compared to the income generated from the same amount if invested by an already established business (#500 000 invested at start up might take a year to generate #1 500 000 but should take lesser time (say 8 months) to be generated by already established business (all things being equal) a result of this, it is easier to repay loan for an already established business than a new business.

Considering the above factors, it is obvious that;
1. A choice of lender is to be considered with respect to the size of loan
2. The best time to secure a loan is not at start up but when expansion of the business is required and 3.The right term to consider is the term with lowest interest rate and longer repayment period that will allow you to defer your first repayment date.
Conclusively, obtaining loan to finance your business requires a careful and stategic plan- Do not be found wanting of the requirements if you wish to continue in business.

For more information concerning Business/management solution and for partnership, contact us at STP Consult.

Akinsola Jegede
Business/Project Consultant
STP Consult (Managing Business-Supervising Projects)
Icon house, bs oyinkansola fs. Olorunsogo. Ibadan.
stpnigeria@gmail.com
07054150336
2B4A00E5

—SMALL AND MEDUIM SIZE BUSINESS YOU CAN DO IN YOUR HOME WITH LITTLE CAPITAL

Small Business Ideas: 15 New
Innovative Product Ideas to Sell in
Nigeria (By Tuned Afunwape)

P.O.P ceiling production
A new trend to really make good and legitimate money was introduced into Nigeria not too long ago. Many people would like to use Plaster of Paris on their houses but on the other hand do not know how easy it is to produce the ceilings.
P.O.P ceilings are special ceilings made from Plaster of Paris, and many people think that they are more beautifying than other ceilings. This is because you can have diverse designs of them and they could be more easily maneuvered for better aesthetic
appeal.
In addition Plaster of Paris ceilings
are fire resistant and relatively lighter,
thereby lessening the load on the beams and roofing structure of the houses.
Moreover, a prospective entrepreneur can actually produce the ceiling himself, as it is quite an easy process. There are other casting that could be made locally from P.O.P powder though, some of these others
include polyurethane cornice, rosace and niche, columns & pedestals, doors and windows surround, etc but some of these might not be as easy, cheap or straight forward as ceiling tiles, and that is why it’s advisable to start that way.
Plantain Chips production
After removing the skin, the unripe fruit can be sliced (1 or 2 mm thick) and fried in boiling oil, to produce chips. Plantain Chips, if they are made of green plantains that taste starchy are called potato chips. If the
chips are made from sweeter fruit, they are called ‘Banana Chips. They can also be sliced vertically to create a variation known as Plantain Strips. Just make sure that you put your label on your product for branding purposes. The more you produce, the more money you make, because majority of Nigerian love plantain chips.
Continue after the Ad

Liquid Air Freshener Production
Liquid air freshener is a product that plays a strategic role in homes, offices, etc. It is demand cut across sex age groups and social strata. This product can be prepared in a one-room apartment since all the chemicals involved are user friendly.
Machines are also not required when
producing in small or medium scale. All the chemicals required are locally available all year round. It is also heartwarming to know that the production technology is a very simple one.
Even an illiterate housewife can churn out good quality air freshener if well instructed. This product that has 80% water content and a high profit yield. There are high qualities and well-designed plastic containers that will give the product like this an irresistible finishing touch and they are all locally available.
Production Of Toilet Rolls And Paper
It is time Nigerian businessmen and
potential investors became aware of the commercial viability and profitability of toilet rolls production. Toilet paper rolls are used for sanitation purposes in big hotels,
educational institutions, cinema houses, fast food centers, water closet toilets etc. Most people even prefer it to handkerchief due to its relative cost advantage. All Nigerian men,
women and children consume toilet rolls. Its demands is influence by population explosion, rapid urbanization and social awareness. Our local production is made
more attractive because the raw materials are available locally. The machines can be fabricated locally.
You can set up the project without initially acquiring the machines, while you make a lot of money. The raw materials include jumbo reel, glue, paper; packaging materials include printed labels and nylon. If
you are buying the machine, the machines required are core gluing machine, jumbo rewinding machine, core cutting machine and band saw cutting machine.
Setting up A Bakery
The amount require to set up a Bakery is directly related to the cash at hand, if you want to start small you can get a small parcel of about half a plot or a full plot of land and build a clay oven. It will cost you about N400, 000 to start, while it will cost between N4,000,000 (four millionNaira) to N5, 000,000 or more to starton a large scale . It is very important to engage the services of skill labour that knows the ins and outs of bread baking.
You can operate 2 gang i.e. 2 shifts which is day and night. You will also need apprentices who will provide all the necessary assistance during the baking process.
You can also then enter a contractual agreement on how they will be
remunerated; either on daily basis, weekly or monthly. But in some cases, the laborers are paid between N500 to N1000 per bag of flour produced in every shift.
Some laborers produce as much as 10 to 12 bags in their shift. Proper supervision is very important, as you must be vigilant, so that a bag of flour must not fall short of expected
amount of quantity of bread.
Paint Production Business
Paint production business is a very lucrative business and its profit potential is very high.
Going by the number of houses and other structures in the country, it is certain that you can never run out business if you go into paint production. Paint is an essential
commodity needed for painting houses, offices, etc and the demand is on the increase. There is hardly any house that is not painted these days, so the market is there for you.
What is left for you to do is to penetrate and capture the market by producing good quality paint and marketing it very well.
You can start your home-based paint
production with as little as N100,000.
The raw materials are readily available in the Nigerian market. You also don’t need any expensive equipment to
produce paint; you only need some buckets and your two hands to do the mixing.
Soya milk Production
Soymilk is a nutritious and refreshing drink produced from soya beans which is a leguminous grain. It is creamy and whitish in colour, with a neutral taste. It is a good dairy milk substitute. Soya beans, the major raw material is available everywhere in Nigeria and it is affordable. You can start small with between N50,000 – N100,000 . Soya milk is commercially appreciated, but not many investors are tapping into it. Majority of soya milk in the market are imported. This is an opportunity for wise investors.
Toilet Cleaner Production
Toilet Cleaner is a chemical mixture for
removing dirt and stains on tiles, floor and for cleaning toilet. Its domestic use includes stains and dirt removal from toilet, bathroom and kitchen. It is also used for scrubbing. Industrially, toilet cleaner is used for removing grease, stain and chemicals on the floor and for washing toilet and tools. You can start with as little as N50,000. Toilet Cleaner is very easy to produce; all the chemicals and raw materials for production are readily available
locally and affordable. This business can be done anywhere by anyone.
Production Of Deodorant/Air Freshener
Air fresheners are consumer products that mitigate unpleasant odours in
indoor spaces. They are used everywhere
– rooms, toilet, offices, shop, cars, eateries,canteens etc. Air fresheners are very affordable and both the poor and the rich use them. The raw materials, meaning the chemicals to produce deodorant/air freshener are available locally everywhere and are cheap. You can start production with between N45,000 – N60,000 .

Wine Production
Wine is an alcoholic beverage, typically made of fermented grape juice or juice of other fruits. Wine is a popular and important beverage that accompanies and enhances a wide range of cuisines from the simple and traditional to the most sophisticated and complex. Wine is enjoyed
by everyone and the market for it is huge. This is an opportunity for
wise and smart investors or businessmen because 95% of the wine consumed in this
country is imported.
Polythene/Nylon Bags Manufacturers
Polythene/nylon bags are made from
polymer of high and low density
respectively. If you have been looking for a business you can start with little capital with huge turnover, this is the best business opportunity for you. The demand for polythene shopping bags is on the increase and you should be part of this boom as a manufacturer or a supplier. Polythene shopping bags are not only used for packaging goods, they are also used by Banks, Eateries,
Supermarkets, Pharmaceutical stores,
Fashion houses, Textile stores to mention but a few; and the profit potential in this business is enormous.
Ice Cream Production
Ice Cream is a nutritious beverage taken by children and adults alike. It contains nutritive carbohydrate as sugar, fats, protein and minerals etc. Ice cream is enjoyed by both adults and children especially in the cities. It is however, consumed any time but
more in the dry seasons. Ice cream is taken by almost everybody due to its sweet taste. You can start with less than N70,000 and the raw materials are readily available in the Nigerian market. And the profit margin is also high and that makes it a very lucrative business.
Foodstuff packaging
The Demand for African foodstuff in Europe and America is rising due to the increasing number of Africans, particularly Nigerians who sojourn to these Countries for better life. It is estimated that 20 million people of
Nigerian descent reside outside Nigeria, with the majority living in the United Kingdom and the United States. This is a great opportunity to sell to this category of people. My research in this business sector revealed that the few exporters of
African foodstuff cannot meet with the
demand of Nigerians because population is increasing everyday in US and UK. You can package any of Nigerian foodstuffs like
egusi, Ogbono, Garri, Kilishi, vegetable, and you can package in 1kg or 2kg bags and penetrate the local or international market
Zobo fruit drink production
Zobo is derived from a multidimensional plant whose botanical name is sorrel. In some places like Minna it is called “Sobo
rodo”, while is called “Zobo” rod in some places in Gombe and Bauchi. The raw materials for zobo production are Sorel red dried plants, treated water, Honey or Glucose syrup, Citric acid, Flavors, Preservatives, Vitamin C. The equipment needed are Boiler or heater, Liquid fitters, stainless steel liquid mixer, weighing scale, graduated plastic or stainless buckets,
storage tanks, Microscopes, Filling machine (Manual or automatic), batching machine, PH Meter, Measuring cylinder, Overall and
cups, laboratory wares. It is advisable to package it in plastic bottles. It can also be made available in various designs and sizes or you can also package it in Nylon sachet of smaller sizes. You can print your details
such as Brand name, composition, Type of fruit drink, Batch number, expiring dates and storage instructions.
Fiber Ceilings Casting
Fiber Ceiling casting is the product of
processed newsprint cement, paint and water. The processed newsprint is the fiber, it comes in 2 feet by 2 feet, and its materials are 100% Eco friendly and could be sourced locally. You can earn 200% from every board
you are able to cast; the cost of fabricating one is only N50, while a board is N150 in the market.
In conclusion, I want you to know that
one or two of these new product ideas
may be your blue print to success .

Here is one business managed by STP Consult you can invest your small capital.
1. Become our Sole Distribtion Agent in any Nigeria State http://www.nairaland.com/1767245/one-business-start-up-little

Others may include: –
1.Party Equitment Rentals
2.Laundary/Ironing/Clothes cleaning
3.Chalk Production
4.Candle Production
5.Livestock farming (Poultry,fish farming,grass cutter farming,snail farming
6.Custard Production
7.Yam Flour packaging
8.Hand made paper bag or carton

Most importantly, searching for business ideas will always give you numerous ideas and leave you confused but what matters most is for you to search for opportunities open to you among those idea and explore it.

For more information concerning Business/management solution and for partnership, contact us at STP Consult.
Icon house, bs oyinkansola fs. Olorunsogo. Ibadan.
stpnigeria@gmail.com
07054150336
2B4A00E5

Akinsola Jegede
Business/Project Consultant
STP Consult (Managing Business-Supervising Projects)

HIRING A BUSINESS MANAGER – WHAT YOU NEED TO KNOW

For one reason or the other, Business Owners often resort to employ a Manager to manage the affairs of their business (majorly as a result of Expansion, unavailability of owners to manage the business or the need of technical expertise to manage the business effectively) but mostly end up hiring A BAD MANAGER(best phrase to describe non performing manager). And after several trials of hiring the good one doesn’t yield expected resort to folding up of a potential prosperous organization.

Complains about hired mangers (Bad Ones) by business owners are of various categories, ranging from;
Lack of Honesty and loyalty- complains about dishonest activities of hired manager are numerous, stating that hired managers do not deal with business transactions honestly, but rather seek for avenue to gain personal material advantage of the business.
Accountability- From the dishonest activities, bad hired managers resort to painting a false account of their activities to business owners basically to secure their interest.
Passion – hired managers usually lack passion for what they do. Taking up the job is a means to earn a living and nothing more. The lack of passion and care is inevitably evidenced by the irrational decisions often made by these bad managers.

Seeing some other business getting managed effectively by other hired manager,however, business owners that still love to be in business end up managing the hired manager (by setting up controls, erecting surveillance, unannounced visit, external audit etc) hoping that is the secret to other business success but these efforts still does not yield expected result because No matter the amount of effort, once you hire a BAD MANGER, The Price is inevitable.

HOW TO HIRE A GOOD MANAGER.
1. Set your Objective right. This will take time and effort but your main focus should be finding a competent manager you can trust.
2. List out the characteristics of a good manager you need for your business
You may list out characters like
-Experience
-Mature person(not necessarily by age)
-Honesty
-Very dynamic
-Resourceful and able to do the
job for you.
– And most importantly, someone you have a very healthy interpersonal relationship with.
3. Search for those character you need
in your manager and not what you are told in resume or interview if you want to hire a Good Manager
Haven tried all those I wish you the best of the Good Managers or Rather
Why wait to make a count of bad managers. A number your business may not survive to count. Contact STP Consult for your Management Issues. STP Consult, Always a trusted hand to manage your business.

STP Consult (Managing Business – Supervising Projects)
Icon house, bs oyinkansola fs. Olorunsogo. Ibadan.
stpnigeria@gmail.com
07054150336
2B4A00E5

Akinsola Jegede
Business/Project Consultant
STP Consult (Managing Business-Supervising Projects)

FOR YOUR PROJECT SUCCESS

PROJECT SUCCESS SOLUTION
(PREVENTING PROJECT FAILURE)
A major aspect of ensuring Project succes (be it residential construction or industrial,construction/building) is effective supervision and monitoring of the project from planning to completion.
Project owners often wish they have the TIME and TECHNICAL KNOWLEDGE to personally supervise their project (fully aware of the importance of project supervision) but the busy schedule and the lack of technical knowledge about the project has hindered project supervision by project owners which have led to the failure of uncountable number of projects, there by bringing losses to the project owners.
Without having a Personal Technical and Experienced Supervisor on the site (someone different from your contractor) to ensure that your project design is executed as planned, you RISK being delivered:
1. Unsatisfactory Project
2. Sub-standard project
3. Failed project
And above all, you the project owner bear the losses (the wasted fund, wasted time, health effect to mention in few)
Do you need to design a project Plan e.g construction plan?
Do you wish to prevent Unsatisfactory,
sub-standard or a failed project?
You need a Technical Supervisor on your Site…
CONTACT OUR TEAM OF COMPETENT
EXPERTS FOR YOUR PROJECT SOLUTION
STP Consult (Managing Business –
Supervising Projects)
Icon house, bs oyinkansola fs. Olorunsogo. Ibadan.
stpnigeria@gmail.com
07054150336
2B4A00E5

Akinsola Jegede
Business/Project Consultant
STP Consult (Managing Business-Supervising Projects)

STP Consult – ENSURING YOUR PROJECT SUCCESS

SOLUTION TO PROJECT SUCCESS

Executing a project successfully requires proper monitoring and supervision to avoid errors, mistakes and project failure.
STP Consult is simply the eyes you need to supervise your project from inception to completion. Be it Construction, Extraction, Manufacturing, Business Organization/Branch Operation, Contact us today and be rest assured to receive all updates on the progress of your Project Work.

STP Consult (Managing Business – Supervising Projects)
Icon house, bs oyinkansola fs. Olorunsogo. Ibadan.
stpnigeria@gmail.com
07054150336
2B4A00E5

REASONS FOR BUSINESS FAILURE

The need to own a major source of income arises or a means of financing miscellaneous expenditure or establishing an avenue to increase the value of your invested funds becomes eminent when initial monthly income seems inadequate.

The idea pops into the head, A business Plan Is Compiled and fund (be it savings, loans, grants and lots more) is pulled together to finance the promising profitable business (small, medium or large business, depends on the capital) and the business eventually starts. Increase in stock turnover, increase in sales, daily income, weekly income, smiling to the bank (if you use one), deposits and withdrawals. In short, the new business SEEMS to be booming because
– Initially, it is a profitable business venture,
– Sales level increases every day (meaning more income), and the best of it all,
– The income from the business has been able to cater for your personal need (the major reason you established the business)

Over the course of the month (or weeks) of the business catering for your Personal Financial Obligation, it seems The Law of Diminishing Return has set in because the income generated is becoming unable to fulfill business financial obligation. Poor cash balances, Stock Out, huge list of debtors, long list of creditors and next, you consider laying off some staff, later, disposing off of small assets (initially) then you move on to bigger assets and eventually, you are personally sourcing for funds to settle the remains of your creditors ( God help, you run an unlimited liability company).
Now on the regret line, thinking where you got it wrong. “At least, you didn’t embezzle your own money”. Yes! You didn’t but you have done one or both of these two points WHY BUSINESS FAIL.

(1) MISMANAGEMENT  ( administering finances incompetently).

While you were smiling to the bank with your Cheques or withdrawal slip, Automated Teller Machine (ATM) cards or whatever means you use to get ‘Your Fund” out of the bank, were those withdrawals made from the business for developmental projects and growth of the business or for your Personal Financial Obligations? Just like planting a fruit tree, the leaves (income) are not the fruit (profit) for your consumption. The Leaves are meant to fend for the survival of the tree.
Business is meant to be watered and nurtured till it starts yielding profit and not just the Income.

In other cases, those withdrawals might be for the growth of the business. May be expansion projects (e.g. purchasing of new asset for the business) and not for your personal financial obligations.
Just like the stock trading or foreign exchange trading, there is always a best time for every transaction.
A best time to buy at a best price/quantity and a best time to sell at a best price/quantity.
Every organisation/business should focus and master the techniques of “timing” for all their business transaction. 

Operating Cost (Rent, Salaries, Advertisement Etc). Were you taking note of the trend of your operating cost in relation to the value they provide to your business? You spend on advertisement and YES! There are sales income but you never noticed that the sales income does not justify the amount spent on advertisement.

Asset Financing. Do you keep on financing the purchase of your assets without weighing all the options available? You buy when you are ought to hire, forgetting that both options have different financial implication.

To avoid mismanagement, always balance up the cost and benefit of each transaction by considering the optimum level (best most favourable point) for all business transactions. You may be faced with the difficulty of weighing your options so you might consider consulting your finance manager. 
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(2).  NEGLIGENCE
Being too casual about your organisation/business would tell on its success adversely.
It is right to say that every business need a friendly environment but being too casual puts your organisation at a greater risk.
What are your business policies at inception?
Your organisation structure (Authority and Responsibility of all stakeholders, well defined)?
Your Internal Control Policies?
Your business ethical Conduct? E.t.c.

How strict do you adhere by these policies?
What are the punishments for non adherence?
Are you not violating any government law (may be by not registering to appropriate government authority e.g tax authorities and corporate affairs). 

For every organisation to succeed in business, proper control must be put in place and its strict adherence should be ensured to avoid the plague of business failure.
Make use of the service of your Finance instructor to guide against mismanagement of organisational fund.

I HOPE YOU NOW UNDERSTAND WHY THAT PROFITABLE BUSINESS SEEMS TO BE FAILING.
REMEMBER TO DROP YOUR COMMENT IN THE COMMENT BOX.

For more information about providing solution to your organisational problem, contact us at STP Consult (Managing Business- Supervising Projects) – your business solution.
stpnigeria@gmail.com
07054150336, 08060788184
2B4A00E5