Firstly what is business ?
Business is the selling of goods and or rendering of services with the aim of making profit. The said goods may be produced or bought from the manufacturer. A student definition
It is more like an activity of making, purchasing, or selling goods by providing services in exchange for money. Another student definition.
Four critical things to look out for in Business are;
- Within a Business Environment
- Sales of Goods and Services
- Making Profit
Operating Entity is a business set aside from the owner. It’s a seperate venture. That must have a life of its own. Business must have a life of its own. It must be bult.
It must be allowed to grow and given a space to grow. just like a little baby born, fed at tender and allowed to grow, businesses also come and grows like this.
But the mistake is, we just assume little profit has come, so we eat up, spend and live vig. Not knowing we are eating up the venture.
If you run A POULTRY or fish farm, the first few years in Business, the money earned is not your profit. Because the business is just trying to grow.
Second point is that, we must allow the venture become sustainable. It should be able to survive on its own without the founder been there.
So things like staffing, structure, systems, strategies and styles of operation are critical things we must understand in venturing to make it sustainable .
When we understand the above, we can say we are growing healthy ventures. Don’t be deceived, most ventures around you are just beautiful ventures outside within are dead.
Some , are just barely surviving. If the owner dies, the businesses dies.
Not many business around here are truly sustainable.
2. WITHIN A BUSINESS ENVIRONMENT
Every Business must be within a business Environment. Your school is an environment, your community is an environment.
An environment includes you and another person. Some will like what you do and some don’t. You goal is to introduce your idea. Depend on feedback to improve and innovate on your idea.
Today Campus Connect is an idea that has come out to the environment, it has the potential to be bigger that what it is today. It’s dependent on the environment. What people say, think or do . So also for all your other ideas.
Don’t allow any one suppress your idea. It may not work here, you can change locations or improve using their feedback to make your products or ideas better. In every environment, you will observe the need fo ideas, solutions, products and services because there are always problem and challenges in the environment. So you role is to identify the environment and determine what the ideas suit it.
3. GOODS AND SERVICES
This are tangibles and intangibles . They are your ideas that will be appreciated and bought by the community, space, environment and location.
So, i have somebody that print document and things like that , what he is doing for me is service or maybe a product . Product is idea in goods and services .
What are you offering in the environment to serve as business must be in goods and services.
Profit is in Cash and Kind . Cash to the seller and Kind to the Buyer.
Kind is the satisfaction that is receive by the buyer. And one must ensure this is achieved when a transaction is made. As this is the essence of business.
It’s what brings repeat purchase or Return Of customers or maybe referrals. So today what are the basic skills needed.
- Creative Skills
- Communication Skills
- Negotiation Skills
- Problem solving skills
- People skills
I know of a tertiary institution that makes one of the best tomatoes in Nigeria, but as i speak with you, the commercialization of it is very poor. Some amongst you can visit the agricultural department . See how this can be packaging for the community.
What’s the total population of your institution community?
May be up to 25k or less, but that a unique no to target just 10% daily or weekly , you can’t even handle it . If you decide to sell a product of 50 naira to 2500 daily for 25 days that’s 3,125,000 yearly.
Now you never thought of it right. So student, let’s start thinking creatively. You will notice that to properly service the community, you can’t do it alone. You will need to grow and structure correctly.
This is just inside your school. And just N50. Only
2. COMMUNICATION SKILLS
You must be able to communicate your idea well, in written form, spoken form, body language, sign language, social media all forms.
Communication is your strategy for sales and for making huge profit. You must master the skills of communication. you must master your speaking skills to sell well your products. Master your writing skills to enable sales and so on.
You must be able to communicate your brand and ideology well.
One challenge students have is that they are learning skills that will eventually help them put money in their hands but the really don’t know how to communicate this skills in their environment.
Go and build your capacity, look for platforms to try this skills , practice this skills on the field, amongst your friends.
One day pack some neatly packaged beans in a small packed an brand it and see how many of your friends will buy it. It may not make sense, but at least , it’s teaching you how to communicate and idea out and to a group of people . it will help you gather data which is very needed in Business.
Let’s not be afraid to try things. Try when it’s not expensive to do.
A young boy in an higher institution was selling amongst his mate packed blended recipes beans with spices for instant MoiMoi and Akara ……. that blew him.
Today another boy came up with UpNepa, now he is gathering data of students . Very useful contacts for him and his business.
As you resume soon guys, work towards hitting 10% of the total population in your institution. By the time you spend 2-3 years in school, you will be close to billions. But i must warn you, business is not for lazy people or laid back individuals . You must be rady and determined.
You negotiation skill must be well honed. You must be very good . In fact, use your school experience to get ready and prepare for the outside world.
Your school can serve as your rehearsal point. Don’t waste it.
You must know how to negotiate well. It’s the critical skill in Business anywhere in the world .
4. PROBLEM SOLVING SKILLS WILL HELP MAKE WEALTH.
The more problems you identify, the more reason to create solutions and make wealth. From food issue to Shelter to Education to clothing issues and what have you, the more you can master it. Master any and solve it, the more wealth any wealth comes to you.
Above all, build your capacity to solve problems.
I have a saying “if your certificate does not have the capacity or competence to solve 10 assignments, it has crashed already”. Build your capacity , you’re not learning for self but for self but for society.
5. PEOPLE SKILLS
Build your interpersonal skills , learn to appreciate people, learn to care for your customers .
Grow your customers……. Appreciate them. Follow them and connect well.
I hope to connect with you all later.
CAMPUS CONNECT NETWORK WEEKLY INTERACTIVE FORUM ON BUSINESS TALK, EVERY TUESDAY…. This particular treated topic championed by
Founder: BEE Enterprise Limited and National Youth Service Corps agency.
He’s passionate about employing entrepreneurship as a tool for driving the nation’s socio economic development and thus, have been actively involved in training SMEs and individual on Enterprise Development and Leadership.
He and his team of dedicated individuals also conduct annual training on Business Development and Planning for Corps Members in 8 Northern States in Nigeria.
He currently serve as an independent Monitor for the world Bank Federal Ministry of Trade and Investment GEM Project in the North , East and South and West Zones of Nigeria (Managed by PwC and KPMG )
Follow him on all his social hanldles …..
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