Business in Nigeria can be a tricky thing and even trickier when you
are a woman. Apart from the regular worries like start-up capital,
location and how to choose the right playing field to enter, there are
other things you must tackle. Things like: how to juggle a business and a
career, how to have a life without losing yourself, navigating the
waters of sexual harassment, and remaining true to yourself in a country
that forces definitions on you that you don’t want or care for.
However, life is funny and ironic, isn’t it? In the midst of all
this, sometimes things come together and voila! You’re staring long and
hard at your palm/wallet/bank account details flashing on an ATM machine
because you’ve been paid for a service or product(s) you sold.
You grin, then start frowning as you remember all the things pending to
turn your little business into a professional entity and, just like
that, you shove those irritating thoughts to the back of your mind and
promise yourself that next time, next time, you’ll take the cash and do what needs to be done.
Sounds familiar? I can’t count how many times I’ve met female
entrepreneurs (myself included) who feel they must make a certain amount
of money before they decide to formalise their business operations.
After losing out on a couple of major jobs, I respected myself and
re-branded. Why? Because a mentor shared the following fact with me:
“65% of small businesses will collapse within 6 months” … and that
number is even worse for poorly structured firms!!! If you have made
even 100,000 naira profit from your business idea, I implore you,
starting today, to take the following actions:
1. Register your business
Look for a lawyer and register your business. Did you know you cannot
access certain funding and opportunities if you’re not registered with
CAC, especially with the current-day security challenges facing Nigeria?
Well, now you do, so do yourself a huge favour and go find a good
lawyer and register your business.
2. Brand your company
You can carve a niche for yourself as a consultant in your field but,
starting today, think about the services you want to provide Nigeria
within the next 50 years and create a business name and logo. Hint: if
you’re stuck, go online and check out names/logos of companies doing
what you want to do so you can generate ideas in order to create your
own unique brand.
3. Create a business and marketing plan
You will not succeed if you are a jack of all trades unless you are a
handyman. Decide on at least one service you’d like to do. Research
what is available already in the market and find a way to do your thing
differently. When this is done, create a 5-year business and marketing
plan.
4. Hire at least one intern
I have learnt the hard way that I cannot be in 10 places at once, but
you don’t have to. Starting today, keep your eyes open for a young
woman/man who can help you achieve your goals and objectives, someone
who is waiting to serve or has just finished school. Set aside a stipend
each month to cater for them and build a weekly plan of action for
them. Hint: don’t think you must do 9am – 5pm and kill your intern in
the name of saving a naira. If you need them to work 12 hours a week
stick to that and work out a plan that is right for your business and
interns. If you’d like help setting up an internship programme, please
feel free to write me.
5. Use your smart phone smartly
You may not be ready to get a website but you can open a twitter account or group on your blackberry.
6. Get a mentor
Find someone who is not risk averse and beg if you have to so that
they will find time in their busy schedule to provide you with advice
and listen to your problems. Even if this happens for 2 hours a month,
if you receive sound advice, it will make a big difference before the
year runs out.
Please drop your comments!!!!
Thursday, 3 October 2013
09:35:00
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