I remember how difficult it was back then for me to start a small scale business. Starting a business as a student isn't easy, some wonder how possible it is going to be, to combine school and work. It was around early 2014 I started my first small-scale business. I was contacted by a company that dealed mainly on mobile phones and accessories. Few days before the call, I had ordered a number of phones and powerbanks from the company. They were really surprised by the order, perhaps the reason they contacted me. I had to set up a business in order to make much sales.
The first thing I did was to calculate the free cash I had, and what I will be able to buy with it. There is a common misconception, that one has to have so much money before embarking on such journey. An entrepreneurial journey needs to start as small as possible. So I decided to start with the money I had. I was able to learn from my partner's previous business successes and ideas.
Before calling the company back, I needed some advice. I spoke to a close associate who had BSc in accounting. He then said he'll like to partner with me, that way we shared costs and goods together.
Amongst everyone I knew, I chose the accountant, why? He is someone passionate to work. Negativity is not needed around business, so I tried to avoid this as much as possible. The business was small so I didn't need many hands. If you are planning to start something big, you might need to get some workers. In such a situation though, freelance workers will be better since they could easily be relieved of their jobs as soon as they are no longer needed.
I started the business to make money, but I didn't want it to show this way. I sold the phones for a lesser price compared to that of the market at that time. It's weird sometimes when you tell people to avoid putting money ahead of brand. Brand is what eventually sells.
There is something else I tried to do. I looked for potential customers even before I started buying bulk. I didn't really do any social media marketing since the price sold itself. But if you are trying to reach many persons, social media will be your best bet.
Business suggestions
I've been doing some research on the most lucrative businesses to start in Nigeria. I will be sharing some of them you.
Makeup business
Women care a lot about aesthetica or physical looks. Well, generally everyone does. This presents a business opportunity for entrepreneurs with the right skillset. Here is a comprehensive post on how to start a Nigerian makeup business. You would certainly learn a thing or two.
Pharmacy business
Before starting any business the first thing most businessmen look at is the how a self-sustaining turnover can be generated. The good news, is people would always need the service provided by the a pharmacy store, which is also a sad news if you look at it from a different perspective.
Hopefully, someday humans would live in a world where drugs would become a redundancy. Until then you can make money by learning how to open a Nigerian pharmaceutical store business.
Recharge business
As used in the article I'm about to share with you, the Nigerian recharge card business is a game of numbers. The more sales you make, the greater your revenue. Read how to start a recharge card printing business in Nigeria. You will also learn how to maximize profit as you read that article.
Thanks for reading. I later closed the business though, I'll let you know why later.
Boss, its always so difficult to combine school and work Oooo...I experienced this to back then in skool... but when you got business ideas and initiative, it becomes very workable. great post!
Yeah, it was really difficult. Your last sentence says it all. Business ideas plus initiative will always help.
Life is all about determination
I always talk about you
Because I knew that you gonna be a great and be a rich man even before you become 30
Kudos to you @jaff8
Am happy you're as wise as Solomon
The opening and closing of the business are all combined to be on your own favor. And I strongly believe that .
Thanks for all the kind words. I'm just a simple young man though.
Brand is what eventually sells...
This was worth reading. Thanks.
Thanks @gorgeousreney, I'm glad you enjoyed reading.
Great ideas ......
Starting a business is really daunting I guess. I plan on starting a small scale business in school soon. Thanks for sharing your experience
I wiss you success in your endeavours. Let me know how it goes.
Your experience is just what I need to start up too....not putting money first... But as you have said, I'll try to sell the brand and I trust the money will come.
It's alway good to learn from the experiences of others, it helps. Brand is what is most important, it increases trust.
Jaff I love this. Am going to write how mine started soon. Great post.
Thanks Esther, I'll check it out.
Their job is very commendable, good for you...I too once tried to start trading, but at the time did not work, but I still believe that the main thing is not afraid to go for their goals...
Try again. There are always bad times. I appreciate you coming around.
Hey...this was such a good read. I know how hard it is to combine school and business but what really makes a business to work out amd be successful is PASSION. When you are passionate about it,you find your self going an extra mile to make it work. I will be looking forward to the rest of the story.. Upvoted
Passion is good most times, it's difficult to do what one does not like. Thanks for the addition.
People dont really understand till they find themselves in that situation,owning a business is harder than it looks.nice post!
Really difficult my dear. Seems you have been in such shoes before. Thanks for reading.
Of cos i have,espercially runnin an online business..
I've tried getting various businesses going. So far my most success is with steemit.
It will get to a time all will work well. Just continue doing what you do best. Thank you for reading.
great business ideas you have shared, thanks @jaff8
Thanks man, you have a nice blog.
i too have just initiated a business,a small one at that. I ordered samsung galaxy s6 earpiece from ali express and i hope to market it to students in hostels when school fully resumes. I hope to make alot of sales from this and profits most importantly.
Big businesses always start small. Just start as small as possible, if you need any tips you can let me know. Just try to budget the amount you are willing to invest in it.
I am happy to get to read this @jaff8, I am planning to start a small scale business, too. But I am more into goodies and sweets. Anyways, thank you for your post! 💕 If ever you have time, you could check my blog ^_^
Far too often the most obvious is ignored in small business...the simple fact that more money needs to be coming in the door than is going out. Too often small business owners want to grow too rapidly and start taking on expenses that they simply can't afford.
Always important to run the numbers first and follow the KISS principle, Keep It Simple S.....
Thanks man...learnt from this
I just started a business myself... And i needed to read it
Good advise and noted!
Start small -- Avoid negativity -- Get partners!
Interested in the closing part still though!