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ARTICLE TITLE:   IDEA GENERATION, MONEY CREATION

            The graveyard is the place that has the highest amount of ideas and richest resources that the world has never had. Some lost to lack of belief, lack of optimistic zeal to achieve the unachievable, lack of proper nurturing and branding, and so on. Whatever may be the reasons, the truth of the matter is that one’s idea can be the turning point for the global community.

We as humans have dreams and ideas. These two terms are distinct but still inter-related. An idea is a thought up dream or vision waiting for actualization. But the difference between an idea and a fulfilled goal is that the former is only cooked up in the mind while the latter (i.e. achieved and fulfilled goals) are actually worked upon.

To have an idea is not just the only thing one needs to achieve ones goal but to know the secrets to transforming one’s idea into achievable goals is the catalyst for one’s fulfillment in life. This is also what makes a successful business different from others.

In today’s business world, conglomerates, multinationals and the rest stand out as the top business structures used to motivate small-scale organizations, why is this so? The secret is in the fact that these top entities have become fulfilled and accompanied ideas cooked out of actualized long-term goals.

In order to make your generated business idea to turn out to be an actual business success story you need to follow in the footsteps of the wise-ones, those who have tasted from life and have seen its dynamic faces; just as the saying goes “experience is best teacher”. The following are some tip-bits in making your business ideas come to reality.

(a). Purpose-Identification

Know the reason for your existence, tailor your ideas to your dreams and desires. Match your business ideas to your passion and interest. If you are talented in one way or the other; if you are skilled or gifted in doing one thing or the other, then stream-line your business idea in such direction; that way when you actually face some challenges, your passion would still be your motivator and driving factor for staying in your business line.

(b). Mind-Creation

As earlier said, start with a positive outlook to create a unique idea that when it actually materalise, it would turn-out to benefit you and your community. It must be an entity that would contribute positively to the society.

            You may say that what is the link between a business and the society, the answer is simply called: SOCIETAL/ECONOMIC PROBLEMS. Let your business idea be one that would help to solve a lingering crisis or problem in the society, that way you get the goodwill you want for the business, customer-patronage, good sales and turnover.

Do not follow the crowd; not because you see people making it in a business line, means that you would make it in that business line too. Be unique; brand yourself in such a way that when people see you, they see your business.

(c). Written Documentation

The next thing to do is to put down your ideas in writing, list out the numerous business ideas that you have. If you don’t have proper or adequate skills to start up and run the business successfully then take up one or more courses (academic, vocational or technical training) to boost your business knowledge, leadership skills, business morale and confidence as well.

            In writing down your business ideas; make out a scale of preference, start with those ideas that are of top priority; place those temporarily non-achievable goals as your long-term business goals and link your short-term achievable goals to the long-term ones; in that way you will know your starting point and your finish line; thus your business would have a written down VISION and MISSION this will therefore prevent it from being diverted away with outer distractions.

(d). Goal-setting

In your written document comes a master-piece known as your business plan. This is the blueprint or the foundation on which you build up your business empire. Make strategic, tactical and operational business plans that is, long, medium and short-term goals with specified years or dates for their accomplishments. Also do regular performance appraisal of yourself and staff (present or intending) towards your contribution to the attainment of your business goals or objectives.

Reward yourself with a treat when you achieve certain steps towards the actualization of your business idea or objectives, at the same time update and upgrade yourself on the latest trends in your intending business line for you not to be swept out of the market due to competition. While learning the strengths and weaknesses of your competitors, try to integrate the lessons gained into your business plan in order to enhance the efficient achievement of your business idea or goals.

(e). Risk Analysis

            Then you conduct a SWOT analysis of your strengths and capabilities, weaknesses and inabilities, opportunities and privileges, traits and challenges of the intending business idea.

Consider your present operating market condition; is the environment you intend to start-up your business favourable for business operations?, is the environment endowed with all the needed business resources? (material, capital, human, technological, e.t.c) or do you need to source for your resources elsewhere?; do you have to regularly train your staffs as you are unable to get qualified expertise in your intending organization as at present.

Are you doing business on cash or credit, or cash and credit basis?, what prices, discounts, and so on are you charging on your products?, will they scare/repel or attract more customers to your business? –and- above all the quantity of your business products, efficiency of service delivery and the quantity of goods produced are also to be kept into consideration.

If this is done, do you need to take a loan?, how viable is the type of business, business environment or potential clients to respond to patronize your product in order to incur more revenue that would be used to offset your expenses or debts?

Is your business more capital or labour-intensive in nature?, e.t.c. If you believe that you have the mind to take a risk, then you have the mind to face your challenges. A failure is a coward who walks out of the door at the slightest point of losing a game and facing disappointments when you keep running away from your fears without attacking it and seeing what the result would turn out to be?. Then you are hindering yourself from making mistakes but useful ones that would give you more preventive tips and techniques for avoiding your next pitfall.

(f). Business Survey

This also an integral part of risk analysis as they go hand in hand with each other. Unlike risk analysis which deals more on the individual, business survey deals with the intending business at hand.

Make out questionnaires and give to people in order to know peoples reaction to the existence of your product or service (intending or actual goods and services produced or sold). Also make do with a lot of sample case-failures of failed businesses or business projects/opportunities that other businesses failed to embrace or face.

If you want to be unique, start or innovate a new product or business line that is totally different from other brands but place more emphasis on customer-satisfaction than on profit generation.

And if you the only player in your business market for now do not be too relaxed as few more individuals could rise up to the slate to bring up a business/venture that may match up or surpass your business operations. If you have being well prepared; then you should not be too scared instead switch on to your motivators and provide a product or service that would gain your already lost target audience and to even gain more patronage.

(g). Mentorship

Though on individual consideration this might not be compulsory, but I truly believe that having a mentor or going for business mentorship and networking classes, seminars, awards, e.t.c duly encourages one to put in his/her best for the business. It evens motivate you to be able to motivate others (most especially your staffs) especially when you are introducing your business or new product or service to the public. 

A mentor would simply guide you or how to do your business right, things to avoid and investments to make now or never; this is what most business consultants do. This does not mean that you as an individual is not fit to take rational steps and decision as regards your business and it doesn’t really stop you from accepting or rejecting your mentor’s advice or suggestion; because you are still the boss of your own terrain, so take charge and be independent; just note that a little advice might help you.

Still be careful of the kind of people you meet for business advice, they could just be used by your competitors to get your trade secrets or future business plans.

(h). Team Spirit

Remember the saying “united we stand, divided we fall”. This is not only truly for a nation but for businesses as well. If there is no unity, friendliness, cordial and amicable social relations amongst your staffs, your business directors or management and between management and employees, there your business is heading for doom and you are indeed in a great disaster.

One way of ensuring team-spirit is by having your laid-down norms and values that you and your business hold on to and cherish so dearly. Make sure that every single individual goals and targets. But to subject your workers to always think of your business first before other things shouldn’t be done by cohesion or force but by motivation intrinsically or extrinsically through financial, non-financial resources and other motivators.

Also, take time to study and understand your staffs properly, know their individual interest and problems, if this can be solved by your company’s assistance (for example: granting them loan to buy a car, pay their student’s fees, e.t.c); this would really go a long way to revive their spirit and it will simply show that your business cares for them and puts them in mind always. If for this reason you need to get an human resource manager or expert, counselors, auditors, business consultants or managers and so on, please do so; as these individuals are specialized and fully trained organizational behaviourists whose area of expertise is to syudy and profer solutions to human behavior, psychology and organizational conflicts, problems and issues.

But this should be duly thought-through especially after considering your business size, present financial capacity or ability to keep retaining such experts in your organization or the cost of bringing them from outside into your organization for their routine observation and study for their periodic check-up on your business.

Also, ensure discipline and proper sanctioning of unproductive and unethical behavior exhibited by your business staffs and management always. This will duly keep everyone on their toes and make all members of the business (both staff and management or top business officials) realize the fact that you are in no silly game at all; and that everyone is in for serious business and efficient in terms of their contribution to your business as a whole. Always be professional in your dealings with your director’s staff and customers or clients as well.

(i). Resource Mobilisation

            This simply means the gathering the necessary resources needed for business [land for the business location and siting for raw-material, labour for the provision of quality services or the inclusion of an helping hand in the production of your goods and services, the right kind (in terms of quality and quantity) of labour whether it is skilled, unskilled or semi-skilled that is needed for your production process must also be put into due consideration].

            Then you need to consider the means of sourcing for capital (whether monetary or plants and machinery) and then your own duties as the entrepreneur in charge of your firm.

You must also avoid working as a business man but as an entrepreneur always, know the skills, knowledge and competence needed for you to effectively run your business and then gather all of these resources with immediate and efficient utilization of them, only then can your business soar high like the eagle in the sky.

(j). Little Beginnings

Do not back down at the very time you face any challenge in your business (whether financial issues or the challenges of the public’s initial acceptance of your new business, products or services, or the challenges of investors contributing into larger and well established firms (due to their risk of loss of capital invested in terms of liquidation of the firm) instead of them investing in your own firm, e.t.c).

Whatever the challenges are, do not give up so easily, Rome was not built in a day and as the saying goes “the journey to the top of one’s success starts with just a little step”. Don’t be afraid or scared to take the step; believe in yourself and brace-up to face the challenges of your little beginnings. If you do, then you would eventually move up to the top and certainly have good stories to tell the very end of the day.

NOTE:

With all of these pointers being laid out and carefully followed and monitored in your business line; you are sure to getting your own head start in life. Remember, it all begins from your heart, your mind, your thoughts and your idea. Transform your idea today in order to generate the millions for your tomorrow.

Idea generation and money creation is the reigning thing now, it is what is invoke, do not be found slacking, do not be found wanting and do not be caught unawares. Make a change for yourself, your family and your dependents today. Do make a change now because the world is counting on you to do so. 

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SEASONS GREETINGS FROM US ALL @ FAB SCHOOLS NIGERIA (...impacting the world for good).

ARTICLE TITLE:   DEALING WITH CHANGE

            Change is a new development in a trend or series, a sector or industry, e.t.c. Change could be positive or negative to individuals most especially businesses. What makes most blue-chip companies still relevant in today’s business-world is their ability to anticipate or predict a future change and being able to adequately plan and deal with such change when it actually comes.

            As a business person new in the industry, how do you intend to dominate the market without being a loser due to new products or services introduced by your competitors most especially the “the big players” or already known monopolies.

No matter the resource constraint you have got, always try your best to get the most qualified individuals to your organization. Improve your leadership style to be more democratic and participatory, your performance appraisal and reward system should be fair, your control and reporting system should be as flexible as possible as your workers should be free enough to approach you or your management for their needs and also provide new ideas or concepts for your organization.

Creativity and initiative should be increased regularly, learn to engage everyone’s thoughts, ideas and feelings about forming a new business product or service, concept or brand, e.t.c –OR- expanding the business horizon in an already existing one. Therefore you as a boss should never be intimidating at all, all manner of pride and social-prejudice (like social-class existence, e.t.c) should be excluded; everyone should be seen as equal and the feeling of oneness or unity must truly exist between all business members (whether top-management, middle-managers/supervisors and the lower-level staffs).

You just wouldn’t know if the next big idea or concept for your firm could come from even your most unrecognized staff.

Apart from this, always compare your company’s performance with that of others or the latest industry’s index or standard; it makes you know while other companies are thick and special in the heart of their customers (either in their dividend pay-out, products, pricing or sales promotion, staff motivation, welfare and development, e.t.c) and your business not. It also makes you to be able to detect your weaknesses or failures, and to set-up your next line of action for update on the use of your information technology tools, machines and softwares in your company. Business tools and softwares like Peach-Tree, Sage Business, Paladium, Quick-Books, Business-In-a-Box, e.t.c must be regularly used and updated at all times in your business.

And do not be surprised if your expected outcome or your predicted event doesn’t turnout the very way you think it would, that’s why it’s good to have a PLAN B, a second route to the top and an accurate path to your company’s success.

Be careful of intruders or actors used by your competitors to survey your business in order to get your trade-secrets; if this is blown out in the open then you are simply dead for it. Protect your image wisely and deal with your staffs and agents properly, make sure you truly attend to their needs and that they duly represent your business positively and professionally. 

(COMMENTS: fabschoolsnigeria@yahoo.com).

ARTICLE TITLE:   YOUR BRAND IMAGE IS YOUR SUCCESS IMAGE

To brand a product or service entails more than packaging the product; it includes giving the product or service an identity to hold unto in today’s market.

Now just try and figure out how branding of a person’s personality would be like. Personality branding encourages a boost of confidence in one and it entails giving yourself a distinct definition and identity in today’s world.

For example, the queen of England’s personal image is more recognized than even some other queens; while? it’s simply due to personal branding and not just the wealth she carries. The same goes to other powerful and most respected people in the world.

“The way you dress is the way you will be addressed”. That’s true but for only first impressions and encounters which could be retained or discarded from another person’s mind. What registers you, your product, service or your company in the public’s heart even after the first impression or advertisement encounter is the quality or standard you or your brand carries plus the originality and uniqueness in your brand and your style.

Remember I said “originality”- that is being me even when others aren’t around –and- “Uniqueness”- being special and known for something distinct in character, style, confidence, hardwork, leadership traits, skills, e.t.c. Uniqueness comes with creativity and this is what stands you out and certainly carves out a niche for you.

Your brand should truly speak volume of who you are within and without, it’s not about faking it or trying to act like someone else, it’s simply being matured and truthful. Pleasing others even at the expense of setting a goodwill or positive image about the brand you represent would lead to your downfall.

As a person, never settle for less, look at the resources you have and try to make something good out of it to look up to standard; for your product or service, always strive to obtain quality tools, raw-materials or goods; inferior materials must be excluded. This would then increase your good image, customer patronage or people’s compliment and increase your success in life.

Also, do more research into how to make your brand better; if you are a motivational speaker for instance, you could take a few classes on presentation and etiquette skills, attend seminars in different fields, meet with other experts or successful people in different fields, e.t.c.

You must also have a mentor or guardian to look up to or study and put you through different branding styles or strategies fit for you, your business, product or service. All of these plus many more only helps your brand image to be your success image.

SEND YOUR COMMENTS TO: fabschoolsnigeria@yahoo.com.

Okonjo-Iweala defends budget of N43million to fumigate Ministry of Finance

 

The Ministry of Finance has risen to defend its 2013 budget which included a plan to fumigate the Ministry at the cost of  N43,381,673 , claiming the proposed budget is “prudent and reasonable.”

 

Despite the widespread condemnation that greeted the planned fumigation of the Ministry with N43 million, the Ministry in a statement on Monday stated that “the proposed annual budget for cleaning and fumigating the premises of the ministry at N43,381,673 is certainly within the parameters of industry standards.”

The statement signed by the Senior Special Assistant to the Coordinating Minister for the Economy and Minister of Finance, Mr Paul C Nwabuikwu, noted that “it is also important to keep in mind that the ministry is facing serious structural and environment challenges which have made these services very necessary” as he seeks to explain the need for the fumigation.

The Ministry has faced a massive outcry following a breakdown of the 2013 budget that revealed that the nation’s treasury will be spending that much on fumigation.

Responding to the backlash, the Ministry claimed it total budget proposal of N5,599,576,180, “represents 0.11% of the entire budget estimates”, while “the budget for the Ministry together with its agencies is N14,759,952,111.”

“This comes to 0.30% of the total budget” it explained, adding that “the provisions made for personnel, overheads, sitting allowances and travels, training and so on are modest and justifiable.”

The statement listed the agencies as Debt Management Office, Budget Office of the Federation, Office of the Accountant-General of the Federation, Investment and Securities Tribunal and the National Insurance Commission.

The statement from the Ministry, urged Nigerians to “keep in mind that the ministry pays for a lot of studies and investigations done for other parts of government in various areas of economic reform, including pensions, public service reforms, housing and mortgage etc.”

“It also hosts experts from within and outside the country in technical sessions and meetings in line with its mandate” Mr Nwabuikwu stated.

The statement concluded that the Ministry under the leadership of Dr Ngozi Okonjo-Iweala is “very conscious of its key role and will continue to lead by example in areas under its mandate.”

“The focus as always is on managing the finances of the country in a manner that protects and enhances the interests of the country” it concluded.

SOURCE: www.channelstv.com.

2013 Budget: FG to spend N33.5m on newspapers

The Federal Government has earmarked the sum of N33, 538, 541. 00 for newspapers and magazines in 2013 fiscal year. Also, the sum of N1,035,319,145 would be used for international travels in next year.

 

Out of the budgeted amount, the State House will spend N14,471,035,290, while organisations under the presidency will share the balance of N21,074,538,012.

Details of the budget presented to the joint sitting of the National Assembly by President Goodluck Jonathan showed that the Aso Rock would spend N1,510,196,766 on personnel; N7,476,942,490 on overhead and N8,987,139,260 as recurrent expenditure.

In 2013, N7,476,942 would be spent on local travels, transport and training; N1,035,319,145 on international travels while N783,893,950 would be spent on foodstuff and refreshment. Also, N133,175,453 was proposed for purchase and maintenance of generating sets; N19,250,000 on books; N2,879,000,000 on repair and renovation of buildings; N95,890,530 on computer software and N148,105,373 on electricity charges.

For organisations under the presidency, the Bureau of Public Enterprises (BPE) would get N435,576,907; Bureau of Public Procurement (BPP), N2,969,674,599; Economic and Financial Crimes Commission (EFCC), N9,328,135,023; NEITI, N953,889,454; National Emergency Management Agency (NEMA), N1,302,722,111; Boundary Commission, N796,972,338, while the Nigeria Atomic Energy Commission would receive N2,776,896,310.

It will be recalled that President Jonathan, while presenting the 2013 budget, christened: “Fiscal Consolidation with Inclusive Growth,” said the goal was to help attain government’s vision of making Nigeria one of the top 20 economies in the world by 2020.

He said the 2013 budget was also built on the efforts to improve on how government’s businesses were being done. To achieve the task of providing jobs for Nigerians and boost development of infrastructure, the budget provided more funding in the priority sectors, which included power, transportation, water, agriculture and security.

Other key allocations in the budget under reference are: works, N183.5 billion; power, N74.26 billion; education, N426.53 billion; health, N279.23 billion; defence, N348.91 billion; police, N319.65 billion, while and agriculture and rural development would take N81.41 billion.

SOURCE: www.channelstv.com.

Why police could not save the UNIPORT students – IGP

Police officers were chased away with stones by the mob that attacked and killed the four students of the University of Port Harcourt, in Aluu, Rivers state, the Inspector General of Police (IGP), Mohammed Abubakar has revealed.

 

The IGP in a statement issued on Monday in Abuja, explained that the chasing away of the police officers was why the police failed to save the four students who were gruesomely killed by the mob in Aluu. 

 

The Police boss explained that his men were chased away with stones by the mob attacking the boys. He said when a reinforced team of policemen returned to the scene, the boys had been killed and burnt by the mob.

“On 5th October, 2012 at about 0700Hrs, based on a distress call that some armed robbers were arrested at Omukiri-Aluu area in Ikwerre LGA, a patrol team of four Policemen from Isiokpo Divisional Police Headquarters was dispatched to the area, a distance of about 10kms. The Police on getting to the scene met a mob attack on four victims who were supposedly the suspected armed robbers. Attempt made by the Police Patrol Team to take over the suspects were met with stiff opposition from the mob who chased the team with stones” the statement read.

“Consequently, the Patrol Team called for reinforcements, but unfortunately, upon the arrival of the reinforcements, the alleged armed robbery suspects have been stoned and burnt to death, while the mob immediately took to their heels.”

“The corpses were recovered by the Police who by then have been joined by members of the Joint Task Force (JTF)” the statement added.

The students killed were: Ugunna Obuzor- aged 18 Years; 200 Level Geology student; Lloyd Toku- aged 19 Years; 200 Level Civil Engineering student; Tekena Elkanah- aged 20 Years, a Diploma Technical student and  Chiadaka Odinga- aged 20 Years, 200 Level Theatre Arts student.

The Inspector General’s statements confirmed criticisms by witnesses that the police simply abandoned the students to their fate when they got to the scene of lynching.

A relation of one of the victims actually accused the police of encouraging the mob to kill the boys. Mr Abubakar said the Police immediately launched an investigation leading to the arrest (based on information) of Alhaji Hassan Welewa, the Traditional Ruler of Omukiri Community, Aluu where the heinous incident took place and 18 others, some of whom are members of the vigilante group of the community.

According to the police “intelligence report implicated Alhaji Hassan Welewa, as being the person who incited the mob to unleash terror on the victims.” “Further investigation conducted by the police indicates that four (4) suspects, namely: Felemo Solomon; Cynthia Chinwo; Ozioma Abajuo and Chigozie Samuel Evans have been closely linked to this barbarous act.”

Mr Abubakar gave the assurance that the perpetrators of the Aluu massacre will be made to face the law, saying “may I assure Nigerians that the Police Force will do everything legitimate, within its capacity, to ensure that perpetrators of these dastardly acts at Aluu in Rivers State are identified and made to face the law”

Explaining the reason that lead to the boys visit to Aluu, the statement revealed that “the victims had gone to the area where they met their unfortunate death earlier that morning to demand for money allegedly owed to them by Coxson Lelebori Lucky, alias ‘Bright’, who raised a false alarm that the victims were armed robbers.”

“Although, Coxson has gone underground, Detectives are on his trail” the statement added. Abubakar said the police have in the meantime made a  massive deployment of Policemen  to the area, including detectives to assist the State Police Command, adding that “investigation is ongoing with efforts being intensified to track down others who are involved in the incident. Those who are found culpable shall be prosecuted.”

“Normalcy has been restored in the area, while the situation in the area, especially in the University and other tertiary institutions are being closely monitored with a view to forestalling any untoward reactions. “Efforts are being intensified to establish the motive(s) behind this crime, arrest all who may be directly or indirectly connected with the crime and eventually bring all indicted persons to book.” “I wish to use this medium to advice and appeal to Nigerians to see it as their civic obligation in the fight against crime and criminality, to assist security agencies in the discharge of their responsibility. Security is everybody’s responsibility and so, should not be abandoned in the hands of security agencies alone. The maximum cooperation of the public is needed to ensure that Nigeria is safe for all” the Police boss appealed to all Nigerians.

He called on Nigerians to discourage the vigilante mentality saying “Nigerians are further reminded to avoid taking laws into their hands, as two wrongs can never make a right.  More so, it is criminal and against the laws of the land and those that do so will surely be made to face the full wrath of the law.”

The IGP also appealed to citizens who might have information touching on this and other on-going Police investigation not to hesitate in turning over such information to the Nigeria Police Force.

SOURCE: www.channelstv.com.