Happy New year to you all my readers, welcome to 2020 a unique year to start doing unique things. You have a whole 365 days ahead of you the acronym “I will start next year ” ended with 2019, next year is now, so why don’t you start something meaningful today. Think business think investment
Starting up a business or making an investment must be part of your 2020 PDP (Personal Development Plan). No matter how profitable your full-time job may be, having a passive income or streams of income is the best plan for a stable future after retirement or even when your work place gives you a redundant or retrenchment letter. It also brings a kind of fulfillment for one to do something for oneself though it requires too much sacrifice, but it is quite rewarding and fulfilling at the end.
We all know that the simplest meaning of business is an organized effort and activities of individuals to produces and sell goods/services for profit making while investment is the process of investing money for profit .
So if starting up a business or making an investment is not part of your PDP it is not late to begin now or you probably have one or two business ideas, you can start working on it right now. Procrastination is dangerous
How to Begin
- Get a diary, list out some businesses that are related to your interest and available time
- Look for someone experienced in this line of business/investment to train, advise and mentor you
- Do a feasibility study/market research
- List out ways to source funds to begin. these are few ways you can source funds.
- Support from family and friends
- Partnership with a trusted ally
- Crowd funding
- Customers and suppliers
- Write a business plan
But please do not begin with bank loans rather begin with a low budget or low funded business and gradually grow your business. Being risk averse is always the best policy.
Finally, honestly pray to God for guidance and direction, believe and launch out with faith.
Here are some business/investment ideas that can guide you to begin.
- Network Marketing it works all you need is diligence
- Online coaching and teaching
- Home tutors and part time teaching
- Interior designs and decorations
- Property management and Real Estate consultancy
- Event and Party Planning
- Rental Business
- Car Rental Business
- Courier and Delivery Services
- Cargo and Haulage Services
- Catering Services
- Daily Savings, Ajo, Esusu or thrift collection
- DJ/MC Services
- Tailoring and Fashion Design
- Shoe /Bag Making
- Buying/Selling of different commodities
- Home/Office Cleaning Services
- Hair sells, Wig making/treatment
- Making of Organic creams and soaps
- Making of throw pillows, bed sheets, pillow cases and duvet
- Laundry services
- Neighborhood shops
- Generator Rental Services
- Supply of goods and services
- Baking and coaching people on baking
- Motivational speaker
- Selling of second hand or fairly used clothing
- Selling of handmade clothing
- Make over and gele tying Services
- Hair salon services
- Network Marketing
- Investing in, money markets, treasury bills, fixed deposits (these are low risk investments)
- Supply services
- Add yours
THANK YOU, Questions and Answers, Contributions.