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Grow Your Money

7 Things Stopping You From Investing In Omegapro & How To Solve Them

Investing in Omegapro

If you have any doubt about investing in Omegapro, permit me to help you solve them. Before starting any business there may be some things stopping you from starting immediately, even if you are convinced that the business will make you huge money.

If I were you, I would have some doubts too. Yes, I didn’t start investing in Omegapro the first time I heard about it. I had my doubts too. Also, it’s my first time of joining any investment that has network marketing to it.

So, it’s not wrong for you to have doubts about investing in Omegapro. But I’m going to help you in this article to shade more light on those reasons and help you find some release in your mind. If it’s not worth investing, you will be sure you took the right decision.

However, one of questions I always ask myself when ever I come across an opportunity is, what if this works? I don’t like poverty at all, especially when you look at the acrimony for being “POOR”, which is Passing Over Opportunities Regularly.

I don’t know about you, but I don’t like to pass over opportunities at all. So, what do you do when an offer as Investing in Omegapro is set before you? Do you pass it over? No, let me show you what you can do in this case.

What Type Of Investment Is Omegapro?

One thing to always consider about an investment is, what type of investment is it? That should give you an idea of what you are getting yourself into. If the business doesn’t have tangible products or services, then you have to ask yourself, how do they generate revenue for me?

Omegapro is a fintech company that provides an online platform for Forex and crypto currency trading. Maybe you haven’t also heard about trading crypto currencies. The forex and crypto trading is what generates revenue for Omegapro, and that’s where they get money to share with you and others that invested with them.

Now, the question is, can someone Trade Forex online? If there are those already trading forex then, you can be rest assured that Omegapro can equally do the same. So, Omegapro is offering you a service that generates income for you.

After you have invested, Omegapro can offer you more, like opportunity to refer someone to them, as a marketer and earn a commission from it. This aspect of Omegapro is actually optional, that’s why Omegapro pays handsomely to those who agrees to refer investors to them.

That means Omegapro Network marketing system is service based. The only thing the person you refer might do is to invest in Omegapro. That’s the primary reason anyone joins Omegapro. Any other thing is highly optional, and not even possible until you have invested.

I’m a blogger, I do that always, referring people to businesses and getting paid. So this Omegapro affiliate commission is good in my line of doing business, and I’m recommending Omegapro to you.

What’s Omegapro Offering Investors?

Another thing to consider is, what does Investing in Omegapro offer you? Let’s look at Omegapro offering to its investors. The company pays 0.45% daily or 10% monthly on your invested capital on a compound interest. And the duration of each investment is 16 months duration.

The company also offers a networking part of its business on a 10% commission basis. That means if you refer someone who invested $1,000 in Omegapro, they pay you $100. That’s why people in the system are after you to register.

Now, when you register you have the option of doing the same thing and getting paid. Or you just stick with just your initial investment.

What Many Think About Network Marketing

I don’t used to like network marketing, until I got to understand it. I always feel somebody wants to take advantage of me. And I also don’t feel comfortable telling others to join network marketing.

Also, some of these Network marketers are fraudulent. But in my profession as a business consultant, I have come to understand that growing wealth faster is more possible with network marketing, especially if you don’t have enough capital to start your own business.

Another reason I hated network marketing is because they would ask you to buy their products and then sell it for them. That’s purely buying and selling network marketing. For it to work, everyone in your Network should be buying the products and selling it. That one kept me off networking.

Selling a product would either require you to go to people or advertise the product to sell. If you can’t approach people and convincingly get them to buy you cannot be successful in Network marketing.

Although, product based networking is not bad, but it’s not for everyone too. If you can’t sell, then don’t join. If it’s a service business, you should also study it and ensure it’s not requiring recurrent patronage. If it does, there’s a problem to that too.

What’s On Your Mind Now?

I hope you have understood some of the issues about Network marketing. But let us look at why YOU are yet to invest in Omegapro. These reasons may not even apply to you. All of it may also apply to you. One or two or more may apply to you.

Whatever applies or didn’t apply, is okay. At the end, you have the final choice to make. You can either invest or not. It’s entirely your choice. After all, it’s your money.

Let’s just get to the main reason I wrote this post: Reasons Stopping You From Investing In Omegapro. Well, let me even ask you this question: is anything stopping you from investing in Omegapro? Whatever your reasons might be, is equally good, but you can change it if you have the right information.

I have picked a few reasons that might be stopping you from investing in Omegapro right now.

  1. You Don’t Have Any Money Now to Invest
  2. You Don’t Trust Network Marketing Business
  3. You Haven’t Done Network Marketing Before
  4. You Don’t Like Referring Someone Before Earn
  5. You Think It’s Network Marketing Is A Fraud
  6. You Think You Can’t Sell To Anybody
  7. You Don’t Know About Investing In Omegapro

You Don’t Have Any Money Now to Invest

One of the major things that could stop you from investing in Omegapro is money. I’m not saying you don’t have money. I’m only alluding to the idea that you have money but opportunity cost; as to what that money can buy for you is under consideration, and Omegapro didn’t climb the ladder of priority for you right now.

It could also mean that you are expecting money, either from your salary, business or maybe someone promised to give you money. So, you are waiting to get money to invest. It can even be that you don’t have money now to invest, and you don’t know when you will have money.

The only way to solve the problem of lack of Money is to make money. If money is not enough to do the things you want to, or you are always waiting for money, or you don’t have money; don’t you think it’s time to seek ways you can make this money.

The answer is with you, but here’s what I think about this, find out how you can make money from Omegapro. What if Omegapro can make you that money you need? Think well my brother, my sister. Wealth with Omegapro is possible.

You Don’t Trust Network Marketing

Yeah, I know you don’t. I was that way too. I have all the doubt anyone can conceive about Network marketing. I have shared some of my doubts with you. And some of these doubts that people have are actually true.

But there’s something you my need to know about network marketing. It’s what changed my preconceived notion about networking. I discovered that Network marketing gives you the power to earn money from “Other People’s Efforts (OPE)”. You may not have heard of this before.

Most people know about OPM – Other People’s Money. But OPE – Other People’s Efforts is more powerful than OPM. In OPM you earn their money probably once or for sometime and it will eventual Sto͏p. But OPE is a continuous thing. As long as people are putting in effort you are earning money.

Study network marketing for yourself.

You Haven’t Done Network Marketing Before

Yes, I know you haven’t done it before. If you have, you wouldn’t be reading this now. But by reading this, it shows that you would really love to do Network marketing business if you know how. The fact is, anyone can do Network marketing.

You can become a networker. In fact, what does it require to become a Network marketer? You need to be hungry and convinced about what you market to the point that you don’t mind telling it to everyone that you come across.

There’s always the first time for everything. You can start today and who knows, you might become the best networker that ever is.

You Don’t Like The Idea Of Inviting Someone

Oh, this one is a major reason people don’t like network marketing. If you are not comfortable to speak in public, you don’t have to. Just talk to the persons closets to you. In Omegapro, you only need to refer 2 people. One on your left and one on your right.

But you have family members, close friends, classmates, course mates, colleagues at work, church members, etcetera. If you just convince 2 people closer to you to join, you would have done a great job. And teach them to do the same. The circle continues as each person that joined gets 2 others to join.

Think of it this way, if you know of a better life that would benefit your family, friends and colleagues, won’t you like to tell them about it? What if some don’t believe you? That’s okay too. Do you know how many times friends have blocked me on WhatsApp because I’m offering them Omegapro. Do you know many of them are now asking me to tell them about Omegapro.

So, just go ahead to tell them about Omegapro and don’t care if they accept it or not.

You can’t lose with Network marketing. Some people will never believe anything you say to them. But you need to have results to make them regret it.

You Think It’s All A Fraud

What if you think it’s all a fraud? There are many fraudulent Network marketing companies out there. Fraud is not new and it’s not only in Network marketing business. But Omegapro is not a fraud?

According to USI.edu, a fraud must be deliberate, have an intention, use deception, false suggestion or suppression of truth, even other ethical means. And at the end, the aim is to deprive the persons the benefits they are entitled to.

Even if you still think Omegapro is a fraud, what of those who have been getting the benefits they promised? If benefits promised are being fulfilled, then Omegapro is not qualified to be called fraud. It’s a legitimate investment platform. And you should be a part of it to earn passive income for yourself.

You Think You Can’t Sell To People

I’m a writer, but I use my writing to sell to people. Selling is not a special gift. Anyone can sell. You just have to have a product to sell, identify those that needs it, and design how best to sell it to them, using your personal gift or preferred platforms.

If you are in a job, your workplace is your platform. You sell Omegapro to those on your work platform. If you are student, the school is you platform. If you are a pastor, the church is your platform. Find a way to sell what you have to those on your platform.

I’m selling to you right now. If I can’t write this well, I will probably not be able to use writing to sell. The same way you should use what you know best to reach out to others. It’s not hard to sell a good product. Omegapro is a good product to sell.

You Don’t Know About Investing In Omegapro

It may even be that you don’t know about Omegapro. Nobody has told you or you haven given anyone a chance to explain it to you. It might even be that you ignore every invitation extended to you to get to know about Omegapro.

Why you have a reason to do whatever stopped you from investing in Omegapro, always remember “POOR” – Passing Over Opportunities Regularly. That should make you want to know about any opportunity that comes your way before you can either pass over it or jump right into it.

So, getting to know about Omegapro, it’s authenticity, investing options, return on your investment and commission structure on its affiliate network market, should be what you are doing now.

By the time you have all the details, you can then make your choice to either invest or let it pass over. At this point you will be making an informed decision and not an ignorant one.

Conclusion

I’m a Forex investor with Omegapro. As a business consultant, I strongly recommend Omegapro for you. If you still have doubt. Like I usually do sometimes so that I won’t let opportunities pass over me, I risk only the amount I know if I lose it won’t bother me.

So, looking at Omegapro investment package you can find $100, $500 and $1,000 packages respectively. There are others that are higher. But considering you still have your doubts, you can choose to start with these smaller packages. When you are convinced you can upgrade to a much higher package.

One thing you must not let happen to you is to realize later that you have passed over another great opportunity because you allowed some reasons to stop you from investing in Omegapro.

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Grow Your Money

How To Start Forex Trading As A Beginner

There’s huge money to make from forex trading. I want to reveal this business to you in a way you can understand it, different from what you maybe hearing about forex trading. Even if you don’t like the idea of Forex trading, but if you want to make more money this year, give me few minutes of your time to explain this to you.

I want to believe I’m talking to Beginners. Those with little or no knowledge of Forex. Even if you know about Forex trading but not an expert, you should also be reading this now.

However, if you think you know too much about Forex, then you don’t have to continue reading, unless for pleasure or to amuse yourself the way I’m going to lay down the hard nuts of Forex trading in a way a novice would understand.

Understanding Forex Trading

Firstly, let me start by explaining what Forex is and how it’s been traded. Forex simply means foreign exchange. One product that is only traded this way is money. Yes, Forex trading is about exchanging money. I will explain better.

Money is supposed to be a medium of exchange. Which means, you exchange goods and services for money. For example, if ‘A’ has a product or a service that ‘B’ needs, ‘A’ can demand for a certain amount of money in exchange for his product or service. That’s what money is normally used for, as a medium of exchange.

But when we talk about forex trading, it means that money is both the product or service and also the medium of exchange. That means you are buying one money with another money.

For example, when you go to the bank or ‘black’ market in Nigeria to exchange either Naira for Dollars, or Dollars for Naira, you are simply engaged in Forex trading. You are either the buyer or the seller, depending on which currency you are exchanging. That’s means if you have ever changed money before, you are a Forex trader.

So, to understand Forex trading, it means you are either buying or selling one currency for another. That’s the simple definition of Forex trading. It’s so simple to understand. That also means it’s so simple to trade, but wait till I give you more information.

The Forex Market

The forex market is a huge 6 trillion dollars daily transaction. Unlike the Aboki that sells dollars in your neighborhood, international Forex trading actually follows certain rules and that includes having a defined market where Forex is traded.

The closest thing to it is the Stock Market. In fact, Forex and stocks are closely related in the way they are traded but they are different commodities. If you understand the stock market you are more likely to understand the forex market.

Well, if you are a village person like me, you are probably aware of village markets. Some markets trades only on certain days, while some trades daily, depending on what is being sold in the market,

The forex market only trades Forex. That means people transact in this market for the purpose of exchanging one currency with another. However, the forex market is only allowed to trade for 5 out of the 7 days of the week. Yes, from Monday’s to Friday’s, the forex market is open for business. It doesn’t trade on Saturday’s and sunday’s. Don’t ask me why because I don’t know.

Investment Risks In Forex Trading

Forex trading is an Investment. Investments has their own risks propensities. If you are trading yourself, you have to guard against loses. Since it’s a trade business, there’s possibility of buying high and selling low, since the market prices are mostly determined by external factors beyond your control.

Inasmuch as you should ensure you are current with world news and happenings within the market, it cannot fully protect you against losses. One of the best ways traders minimize their risk exposure is by trading against minimal profit positions.

The less profit they pursue with each trade the lower their risk per trade. That way you mitigate against heavy losses and also ensure profitability from little gains. But, as a beginner this might seem complex at first. That’s why learning Forex business is more important than the profit you hope to make from it.

Who Should Trade Forex

One of the questions people ask is, can I trade Forex? Yes you can. Anyone is qualified to trade Forex. It’s not only the Aboki that should be involved in Forex trading. You too can get involved. In fact, you may have trading forex without knowing it, if you have ever exchanged dollars for naira or exchanged naira for dollars.

But, I don’t mean you should go to one street corner and start trading forex. Although there is nothing wrong with that, but there’s a better way to trade Forex than the way the Aboki is doing it.

What You Need To Trade Forex

As a beginner trader, the process is simplified for you. The setup process is no longer cumbersome. With just a smartphone and internet connection you start trading forex from anywhere you are in the world.

However, you will also need funds to trade with. Some forex trading apps allow you to start trading with as low as $10. Some even give you free money to start trading. While these options are good for a beginner, they also have their own risks and limitations.

Even though that seemed a wise investment decision, it limits profit taking. Remember, your returns is based on a fraction of the capital invested. So, if the capital is little, the profit will also be little.

Where You Should Trade Forex

Unlike the Aboki that trades around the neighborhood, you will be trading directly on the forex market, connected through the internet from your smartphone. And this is made possible by several Forex brokers who have Developed mobile apps that gives ordinary people access to the forex market with ease.

There are several platforms to trade in Forex Market. I will give you a list of some of the most popular ones:

  • Omegapro
  • IQ Option
  • Grand Trade
  • Expert Option
  • Olymp Trade
  • XTrend

How You Should Trade Forex

Before you can begin trading forex, you will need to undergo some training. Each app or platform has its own way of trading. As a beginner you should learn first before you invest your money.

However, I strongly recommend that your entry into Forex trading should be to explore options of having others trade for you till you have understood trading yourself. That way you can commit your funds to the business while you learn. And you also get to make profit while you are learning.

It’s always better not to risk your investment as a beginner. Although, having others trade for you may not make you the kind of money you can make from the forex market, but it’s better than losing your money in one swoop.

Start As A Forex Investor

As a business consultant, I always advise beginner forex traders to start out first as investors. That way you risk little in the market until you are matured enough to take higher risk in the trades.

Forex investors are those who have the money to trade but gives it instead to more experienced traders to trade on their behalf and share profit with them. So, you will need an experienced investor who will trade for you. I will show you how to find one in one of my concluding sub heading. Make sure you read my concluding part of this post.

Investors in forex market don’t usually trade by themselves. They give their money to professional Forex traders and take small chunk of the daily profit. However, what makes this Option profitable is that you can negotiate a percentage payout from each trade, regardless of gains and losses.

That means the trader can agree to pay you a fixed percentage profit from his trades, whether he gains or not. For example, if he agrees to pay you 10 percent of the amount you invested monthly, assuming you invested $1,000, you will be getting $100 return on your investment monthly.

But let me introduce you to an international Forex trader that will trade for you while you take your percentage profit, not monthly but daily instead.

Omegapro Forex Investment Platform

I would have loved to show you different Forex investment platforms, but considering the risk involved in placing your funds into people you don’t know, and without any guarantee, I’m limited to just telling you only about Omegapro.

I’m bold to say that Omegapro has been tested and is trusted to deliver returns to its Investors. You will also need to make your own research on this before you decide your investment. Here’s my own information about Omegapro.

What Is Omegapro?

Omegapro is a forex broker. It trades on currency pairs, commodities, stocks and indices. It gives investors opportunity to trade more than 200 underlining assists. Omegapro is registered in the U.K. It combines the profitable power of Forex trading, Fintech and MLM to create wealth for its investors in over 100 countries.

How Omegapro Works

Omegapro combines investment in Forex with MLM, using the power of fintech. It gives investors the opportunity to invest in Forex business and also promote the platform in exchange for commission.

For example, if you invest in Omegapro now, you start earning income from your Investment. But you can also earn additional income from anyone you referred to the company and registered them under your downline.

Omegapro pays its members who sponsored or referred investors to them. It’s a one time commission for each person you introduce to the system. However, there’s a one time $29 registration fee, plus the amount you choose to invest in the trade.

The investments ranges from $100, $500, $1,000, $ 5,000, $10,000 and $50,000..

What Omegapro Pays Investors

The company pays investors daily for their investment sum. For example, if you invest $1,000 with Omegapro, it pays around 0.45 percent of the amount daily, which is about 10 percent monthly. But it pays daily because it’s profit is structured on compound interest. Which means even the profit you earn each day will earn its own profit the next day of trade.

Use this compound interest calculator to check your profit on the compound interest of preferred investment amount with Omegapro.

And for the referral, it pays 10 percent of the initial amount of investment the person you referred brought to Omegapro. For example, if your referral invested initial $10,000, Omegapro will pay you 10 percent of $10,000, which is $1,000.

How To Invest With Omegapro

If you are interested in Omegapro Forex investment, I recommend that you first attend one of its training programs. Don’t invest into a business unless you understand it properly.

Omegapro conducts trainings across the country if you prefer a physical training. However, your can Start immediately by joining one of its ZOOM trainings for prospective investors. I recommend you call this number 08139006120 now to book for any of the trainings closer to you.

Conclusion

If you are a beginner in Forex trading, Omegapro Forex investment is the right startup plan for you. As a consultant, I have an investment with Omegapro. And if you want me to help guide you on how I make money from Omegapro, just join the FASTWEB WhatsApp group using this WHATSAPP LINK.

I didn’t want to raise much of your hopes in this article but I can assure you that Forex trading is worth exploring this year, if you really want to make cool income.

God forbid if the pandemic would hit again. This is one investment that is bulletproofed against lockdowns. Forex market was never locked down during the pandemic. Investors where cashing in on their profits. You can join now without much risk whatsoever.

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Grow Your Money

How Best to Invest In Nigeria In 2022

Nigeria is one country in Africa with huge investment potentials that’s still heavily untapped. It has multiple options to consider if you want to invest in Nigeria and create employments. Although, the current investment climate in Nigeria shows signs of a challenging future for investors, and there’s this perplexity among entrepreneurs on what business to move their funds into.

Since most entrepreneurs are traders, there are limited trades to invest in, considering the lowest demand for most luxury goods in the market. To invest in Nigeria now, one has to do some study on the market realities. You can’t just put your funds into anything, unless you want to lose it so fast.

Trade is tying down most funds. Importers and manufacturers are looking for daily income businesses to move their funds into. The idea is that if it’s what people can use on a daily basis then it would sell regardless of how slow the demand curve is currently looking.

The Fall Of Consumer Spending

According to Brooking, it listed some reasons for the fall in consumer spending as a result of the partial or full lockdowns from the pandemic. Below is the full list that should influence how to invest in Nigeria now.

Understanding the impact of the COVID-19 outbreak on the Nigerian economy

  • Consumer spending primarily on essential goods and services.
  • Future income and expectation is low. Salaries are unpaid, most workers are being disengaged. Family income is dwindling, while small businesses are declining fast.
  • Finally, wealth erosion is the biggest of them all. There’s decline in assets such as stocks and property equity.

How Investment In Nigeria Works

Most Nigerian investors are turnover investors. They merely put their funds in mostly trades that guarantees short term returns. They overlook long term investment propositions. That’s also why most investors shy away from building private refineries, causing the high cost of petrol; but would rather import fuels from other countries, transferring the much needed employment to oversea companies.

To import fuel, you just borrow money from the bank, make order for the fuel, and when it arrives the shores of Nigeria, you load them into a tank farm, and start dispensing to trucks. In 90 days or more depending on the volume of import, your money is right back into your bank account. You pay off the bank loan and start enjoying your huge profits.

But with the pandemic, import is slow, and most importantly, demand is not so good. To invest in Nigeria, investors are thinking of what’s best to move their funds into, with a high propensity for turnover.

That’s also the drive for manufacturing that’s beginning to drive investment into the country. Investors are looking for opportunities that can guarantee daily returns, no matter how small it is, to keep their funds afloat. Idle funds doesn’t guarantee good income. So, the idea now to invest in Nigeria is to diversify into small manufacturing outfits that produces daily needs that are currently driving the market.

Tips To Invest In Nigeria

As this decline in trade continues, demand for micro industries will be boasted. Investors would learn to invest in Nigeria’s most demand goods. Typically, what drives consumers are daily needs. It takes 70 to 80 percent of their spending.

Let’s categorize the areas to invest in Nigeria now.

  1. Food
  2. Shelter
  3. Manufacturing

Food is daily needs. Anything that Nigerians can eat is where they are spending more of their funds. That means food commodities is a major investment area. That brings agriculture to the front burner. Also, food processing will drive investment. Another area would be food services. Restaurants, cooking gas refill plants, and convenient stores are major service areas to invest in Nigeria now.

Shelter is another area to invest in Nigeria. Now, I’m encouraging Nigerians in Diaspora who have disposable funds to help in this aspect of development. The population is growing daily, it’s not shrinking at all.

In 2020 Nigeria had over 7.4 million births, according to Knoema data projection of 37 births per 1,000; given a population estimate of 200 million. It’s the same way that over 500,000 of young people graduate from the universities according to yearly projection, while millions others from informal sectors, looking for shelter to start their own families.

And the third in what to invest in Nigeria, we take a slim look at the manufacturing sector of the country. There’s huge potential if you explore this area wisely. Nigeria has vast number of unprocessed food items that could be processed to help in proper storage and food security.

Nigerian manufacturing sector has always been on the decline over the years, due to huge imports from China and from other parts of the world. But recent statistics is driving new manufacturing businesses. And a lot of interest is in agro products. Nigerian investors are discovering food processing as new investors haven.

Conclusion

The Nigerian economy in the pandemic has its cure from within. Just as the infection rate and death rate has been low, the economic challenges can be reversed if investors focus on areas that meets the daily needs of the consumers.

Now that many are afraid and not optimistic about the economy, it’s time to take calculated risks to invest in Nigeria. There’s a future beyond the pandemic. As you invest in Nigeria now, solving the immediate needs of the consumers, you are also taking position in the future economy.

Take for instance the gas economy. 2020 was declared as the year of gas in Nigeria, and it has been a tremendous year for cooking gas and auto gas. Although, certain factors are required to keep the gas prices lower, it still didn’t discourage investors from building more gas plants and increasing the number of refill stations across the country.

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Start A Business

How To Make Car Wash Business More Lucrative

Do you want to start a car wash business? Even if you are already operating one. I have some vital information for you that would help you make it more profitably. You will also get to know how to manage it successfully, even if you are working or doing other businesses.

In fact, one of the major challenges of starting car wash business is how to manage it when you are not around. But I have solved all that for you with a simple method taught me by one of my new friend.

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One of my readers and a friend now, who happen to own and operate four car wash businesses in Abuja and Lagos gave me the secret of his success. He’s also planning to open 16 others across the country, thereby making it a total of 20 car wash businesses under one brand name.

You will get this detail and more from this article. I have obtained very important insider secret of operating car wash business successfully. You will be better equipped to start a car wash. After reading this, you won’t need to read any other article on car wash business before you start.

Planning Your Car Wash Business

Now that you are thinking about starting a car wash business, its ideal you do the first things first. Don’t take it for granted, unless you are only going to start washing cars yourself and not planning to do it as a business that can thrive on its own even when you are not there.

I have a few recommendations and I will advise that you take it seriously as well. The first thing is to write a business plan for it. You may not do it yourself. You can get a consultant to write one for you.

It’s always better to put down the idea in a good plan before starting any business. It would help you come up with a better and cost effective way to start the business.

The second advice is to know your location very well. Human and vehicular traffic are important for the business. People who pass by would one day recommend those with cars looking for where to wash.

If you are going to locate off a busy location or in an area where there are many other car washers, make your place unique and offer better services. This should be articulated in your business plan as well.

My third and last advise is to research other car wash businesses in your location. It’s important to know who your competitors are, how formidable and prosperous they are currently doing in the business. If you are planning on multiple locations, hire a consultant. It would cost money but it will get you the best result than you could get on your own.

Washing dirty truck tire

How Car Wash Business Works

Car wash business is one of the simplest startups anyone can invest into. You don’t need to acquire any particular skill or qualification. You don’t necessarily need to get government permit or license before you can commence operation.

But you can’t ignore the fact that ones you open, town planning or local government authorities would come after you. So, do the needful by constructing a good drainage system to channel the water for disposal in a better way that won’t damage infrastructures like road or the drainage system.

What you only need is to understand how the business works, and raise the required capital to setup your spot. However, there are no particular startup cost for car wash business. Everything depends on who is starting the business, your location cost implications, types of car washing equipments, and how much you really have to invest in the business.

The financial requirement is not that much either. You can also start small while you grow the business big. There’s also the option of multiple locations, which is the real deal for business. The more locations you can setup the more income you can generate from the business.

As simple as the business mode might seem, it’s a great money spinner. I will explain better in another subhead. But the idea is a simple one; customers only need drive their cars into your car wash, while you give them the best wash possible, and they pay for it handsomely.

Car Wash Business Models

Sometimes the problem hindering people from starting their car wash business is the lack of knowledge. What most startups have in mind when starting this business is usually the conventional car wash model. And when they can’t afford the cost, they quit their dream.

Let me show different car wash business models you can start. Stop limiting yourself. Some of this models can be started with just buckets, sponge, soap and water. You can find all these items in your home right now. So, you won’t say I don’t have capital. I have given you the capital outlay for some car wash business model.

Let me explain them briefly:

  • Conventional model
  • Estate model
  • Supermarket model
  • Multi town model

The Conventional Model

This one is still the real car wash model. You will need a good space. How big depends on you. But it’s better to have a bigger space to park and wash more cars at the same time, if the demand is high in your location.

You will also need a car wash machine. I will explain more when I’m sharing tips on starting the business, since I want to focus on the conventional car wash model.

The Supermarket Model

This is also known as the mobile car wash. This model targets offices, schools, hotels, hospitals, supermarkets, churches and event places. You provide your services to the car owners who either work there or visiting. For example, there’s no government ministry that doesn’t have more than 50 cars visiting in a day.

The idea could be conventional where it’s permitted or just mobile car wash business. You can even have a custom vehicle, with built in water tank and car wash equipment.

The Estate Model

This model is partly a conventional model and partly supermarket model. The target is estates. You setup inside the estate to target those living in the estate. In most cases, you would need to get the approval of the estate managers or association.

Some estates already have spots allocated for car wash business. You can also offer house to house car washing to some customers.

Multi Town Model

This model is the multi application of any of the other three models that I have shown you, but in a multiple location. This model is good for those who are setting up car wash as a full fledged business entity. They have a registered company for it, have good budget for good locations and can manage multiple car wash with multiple model applications successfully.

It can be a combination of any of the three other models or just the operation of one model in multiple locations. The idea is just to create car wash business in more than one location. Like the example of my friend who gave me all the information I’m sharing with you, and he has 4 car wash locations, one in Abuja and three Lagos.

Huge Demand For Cash Wash

There’s huge demand for car wash business in Nigeria. According to a report by the Bureau of Statistics, which is published by Nairametrics, there are about 11.8 million licensed cars in Nigeria, at the last quarter of 2018.

Number of cars on Nigerian roads hit 11.8m in a year

Also in the same period, a total of 75,446 cars were newly licensed. That means an estimated annual number of 75,446 cars are added yearly. Now, with over 11 million cars needing washing, mostly on regular basis, that creates a huge demand for car washing.

Moreover, Nigeria is a rain forest zone, which means we see much rain every year. That increases the number of times cars would need washing. Forget about those who wouldn’t mind washing their cars themselves, during raining season everyone tries to use the car wash regularly.

The tires are the worst places to wash in a car. They are even worse during the rains. Not to forget the interiors that gets dusty during the dry season because of bad roads and high winds blowing dusts and particles into the car.

So many reasons car wash is profitably huge if you decides to get into it. But you still need to keep reading to get all the full gist on this business.

Car Wash Profit Potential

If you are going to start car wash business, it’s okay to know the huge potential in this business. Most people look down on car wash business. For them, it’s a business for the low lives. If you were thinking this way before, I’m about to make you change your mind.

Take for example, the cost of washing one car is between N500 to N1,000. Not forgetting washing the interiors, engine washing, radiator washing and vaccuum cleaning of interior. A car wash can also include rug and upholstery chairs washing as well.

Although, what may be going through your mind is how much can a cash wash business make in a day? Relax, don’t be in a hurry, it’s cool money. Let me do a little calculation for you. We would use the general rate of N500 for one car wash, and a regular day sales report.

Car washing in progress

So, let’s say 10 cars is washed in the morning and another 10 cars in the evening, making a total of 20 cars on a regular day. During the weekends, from Friday’s to sunday’s, the figure is much higher, like between 30 to 45 cars washed per day. But we would use 30 cars per day during weekends.

That means for a week, we have a number of 80 cars washed from Monday’s to Thursday’s, while a total of 90 cars washed from Friday’s to sunday’s. When you add the two together we have a total of 170 cars washed per week.

For the 4 weeks in a month that would be 680 cars washed in a month. If you multiply that with N500 revenue per car washed, you should have made N340,000 in one month.

Types Of Car Wash Operations

As you plan to setup your car wash, it’s equally important that you know the different types of operations, so you can pick what’s good for your location. The different operations are:

  1. Full-service car wash
  2. Exterior conveyor car wash
  3. Self-service car wash
  4. In-bay automatic car wash

Full-Service Operation

This operation involves washing of the vehicle exterior and also having the interior vacuumed. The customer is paying for a clean wash, inside and outside of the car.

Exterior Conveyor Operation

This kind of operation is a drive through operation. The customers stays in the car and are being pull along an automated conveyor, while it washes and cleans the exterior of the car only.

Self-Serve Operation

This kind of operation allows car owners to wash their cars themselves. I bet if this option can ever work in Nigeria, considering that Nigerians prefer to be served and paying for it. So, I won’t recommend this option for your car wash operation.

In-Bay Automatic Operation

This kind of operation can also be manual. The central idea is that customers choose the kind of service they want and that’s what is paid for. If they want only the exterior washed or both exterior and interior that’s what they get for a specified fee.

That includes engine or radiator washes. Or just pick what they want and it’s done for them. Most car wash in Nigeria operate this way, excerpt that most of them are manual operations too.

Car Washing System/Equipment

Your main investment after location is the washing system. This is what controls, speeds up and perfect the washings. A standard car wash should have this system. But depending on the size of your washing bay or the number of washing points you want, the cost may differ.

Also, this equipment is customized to your needs, like 4 points Washing bay or 8 points, as you want it. That determines the price as well. It’s even better you discus with the company directly to specify your need and get a custom cost for your cash wash business.

CLICK HERE to get your custom price for the washing system.

The systems generally consist of:

  • Pressure Pump
  • Expansion Tank
  • Control System
  • The Hose Reels with Nozzles

You should visit any standard car wash business to see how their operation works.

Simple Setup Tips For Beginners

Inasmuch as you want to setup a standard car wash, you can start small and grow it big with time. The main investment here is your location. Most car wash are road side businesses. You should find a good spot along the road where you can setup.

Here are some of the items and costs you would need to get started:

  • Washing system – N60,000
  • Cleaning and spot-free solutions
  • Vacuums – N35,000
  • Brushes – N1,000 for one
  • Towels – N500 for one
  • Water borehole (price varied)
  • Power generator – N30,000
  • Storage tanks – N30,000
  • Buckets – N700 for one
  • Bowls – N100 for one

Hiring And Workers Payment

Another important aspect of business is the workers and their salary structure. Although, it’s common knowledge that workers in car wash gets paid only on per car washed.

No monthly salary for them, and you don’t have to worry about paying them at the end of the month. That’s the reason they jostle for cars as customers arrive.

It’s a good payment system, so you don’t worry about salaries at the end of every month. You can focus on your other logistics to deal with and exclude salaries from it. However, what you may have to consider is the sharing formula between you and the workers.

The commonly agreed structure is 60/40. Every car wash owner agrees that it’s the acceptable standard. You can also find out what’s obtainable in your area. If not, this formula is good. For example, if a car is washed for N500, you take N300 and the worker takes N200.

So, you as the owner of the business takes 60%, while the worker takes 40% of the revenue from each car washed. That way the workers go home with their daily pay at the end of everyday.

Best Management Style

One more important thing I need to address properly is the management. The conventional way has been to seat there with the workers and monitor what’s going on. But that won’t work if you have other business or you are also employed somewhere else.

And you can’t even let someone run it for you because they never give accurate account of their operation. It’s the fastest way to bankrupt the business. So, what other way has been working for others?

Here’s what my friend who I have told you about, that operates 4 car wash operations told me. When ever he sets up a new ones, he would manage it closely for some months. That way he would know how much it can generate monthly.

After that he would outsource it to a competent manage, who would be delivering an agreed sum at the end of each month.

That way he also removes himself from daily expenses and costs, while the manager bears those cost. But the managers profit is any amount above his monthly delivery target.

For example, if a car wash revenue is around N180,000 monthly, he would outsource is for a guaranteed N100,000 monthly. The manager takes the remaining N80,000 or more if he makes more. But the manager bears the daily operational costs as well.

I can also suggest that you can structure the payment weekly. If the manager should deliver N100,000 monthly, it can be done weekly at N25,000 each week. It would help you ensure the manager doesn’t fail to meet payment timelines.

Conclusion

There’s so much so share about car wash business but I have to conclude it here for now. You can also drop your comment and observations in the comment box and I will respond as soon as possible.

From what I have shared with you so far, there’s huge potential in the car wash business for anyone to tap. And for those of you who are employed or busy with other things, I have also helped you with a proven management style that would make it easier for you to invest now.

Finally, don’t forget to do your own little research. Don’t be in a haste to invest without proper guidelines. Like I have advised, package a business plan.

Avoid building any business without a building plan. It may seem like it’s not necessary unless when you need a loan, but it’s more than just a tool for asking for loan.

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Start A Business

How To Start Profitable Business For Beginners

Do you want to start a business or a profitable business? Even though you might choose the later, most startups end up doing the former. Most of what beginners do is just to start a business. The issue of profitability is usually left for assumption.

Let me give you an example that describes it well. I’m a blogger, and the common idea among those who want to start blogging, is to setup a blog and ‘boom’ they start making money.

If you ask many of them how people would find their blog to read, they don’t know. They just assume that once you write a blog the internet will do the rest for you, and find you millions of readers. Then, you start collecting money from Google for AdSense.

It’s the same thing most startups do in Nigeria. They never factor the most important things about business before getting started. In fact, if you ever ask any startup the problem they are having in their business, you will hear things like, if only I have money to invest or my problem is capital. But the question is, what would you do with the capital?

Understanding Profitable Business

A business that doesn’t have a pool of customer base is not feasible and cannot be a profitable business. Get this right, you don’t have a business if you don’t have customers. Instead of trying to start a business first, why not try to get customers for the the business you plan to start.

A profitable business is not an assumption, and that’s why many startups don’t succeed. You cannot start a business you are not sure you have customers who are willing to patronize you and are within your reach.

An idea or a question

Take bloggers for example. Instead of rushing to start a blog, offer to write on another existing blog to build your audience. Especially if you don’t know much about blogging. The same thing for startups. Be patient to undergo an apprentice program. What you don’t know may be the reason your competitors are doing better than you.

A profitable business is not just a good business idea. Anyone can have an idea or even copy other people’s idea to start a business. You need both an idea, the required skills or experience to convert the idea into a profitable solution for the customers who are ready to buy it. Let me delve into apprentice program further in the next paragraph.

Business Apprentice Program

According to a TEDTalk in 2018, Igbo traders apprenticeship program was considered as the largest incubator program in the world. This system has raised most of the successful entrepreneurs there is from the eastern part of Nigeria. And if you must start a profitable business, don’t ignore this at all.

When ever I advise startups to do apprentice program first before launching their business, they always chide the idea as old school. They are usually in a hurry to start a business. I bet you, they are not planning on starting a profitable business, but they don’t know it.

Apprentice program gives you valuable knowledge and experience in that business that would have taken you many years to acquire. Sometimes, what most people don’t see in a successful entrepreneur is the many years he or she spent trying to figure out how the business works and failed.

No one talks about or remembers the failures of successful entrepreneurs. All people see is the success they have achieved after many failures. Take this from me, if you want to start a profitable business, become an apprentice first. You cannot lose with the knowledge and experience you will acquire. It’s the best form of mentorship.

A Different Kind Of Startups

The advantage most successful startups have in developed countries are because of their experience working for another company. Take a look at the tech world, you will see these examples. WhatsApp founders, Brian Acton and Jan Koum were former employees of Yahoo! before they started WhatsApp in 2009.

No wonder they went on to build very successful product like WhatsApp, which they later sold to Facebook for $19 billion in 2014. What do you think helped these guys come up with such an innovative idea as WhatsApp? In their days at Yahoo! they probably saw how the technology was evolving and what they needed to do.

Sometimes, what you need to start a profitable business is to create a product or service that people really need.

And there are many of such examples of startups who were able to launch profitable businesses because of their past experience or training. You cannot be competing against successful competitors with the same old ideas that nobody wants.

Writing. A Business Design

If you want to start a profitable business, you should at least write a business plan. It’s amazing how most startups never had a business plan, excerpt when they are looking for bank loan.

A business plan is not just a tool for collecting loans from investors. A business plan is a written building plan of your profitable business. How do you want to build a profitable business without a building plan. How would you even know what you need to do the most?

In the next subhead, I will be showing you about the 80-20 rule. How would you even know what would give your business it’s 80% outcomes? Your business plan is the real Bible of your business, and you shouldn’t be going into business without one.

If you don’t know how to write a business plan, I would suggest you hire a consultant, but work together with the consultant to write it. Even if you don’t know what he or she is writing, at least get them to explain. Don’t trivialize the soul of your business.

Moreover, there is so much about your business that your business plan would reveal to you. Have you ever wondered why car makers, phone manufacturers, even wristwatch makers add a user manual in their product? Imagine your business not having an owners operational manual. That’s not the way to start a profitable business.

How Money Works In Business

The issue of business capital is mostly misunderstood. It’s not every startup that needs money at the beginning. Don’t get me wrong, but you will understand as I explain further. Money is needed in a business to make your idea profitable.

So, what’s your business idea? How viable is your idea? What’s your huge value proposition? Who are those willing to buy it? What are your chances of reaching your target market? And lastly, what makes you think you can deliver on your promise?

The real work of money is to amplify your business. Your business will not become profitable because you have money. A profitable business is the business that requires money. That’s why the bankers and investors only put their money in a profitable business idea. And not just in a startup business.

A plan is the soul of your business

You do not have a profitable business if it’s only money you have. Money in itself cannot make your business profitable. So many startups have lost money because they invested it in a business that’s not profitable.

A Different Kind Of Marketing

From a different kind of business to a different kind of marketing. A profitable business must know how to market its product or service to reach a larger audience. Imagine the concept of 80-20 rule.

According to an Investopedia description, the 80-20 rule, also known as the Pareto Principle, is an aphorism which asserts that 80% of outcomes (or outputs) result from 20% of all causes (or inputs) for any given event. In business, a goal of the 80-20 rule is to identify inputs that are potentially the most productive and make them the priority.

As a consultant, I was faced with this kind of situation when I started my practice. I know the 20% effort that would cause my 80% outcomes, and that’s exactly what I did. However, I did it in a most usual way that multiples the effects of my 20 percent effort in a way that my 80% outcome is constantly amazing.

Do you know what your 20% effort for your startup business should be? Even if you have the most amazing product, you must have the most amazing marketing if you must turn it to a profitable business.

Marketing is probably the most important task for startups. It should be well researched and planned for as much as you work on your business idea. It’s always recommended that marketing precedes the business launch. It’s the success of your marketing that should encourage you to launch out.

Where Are Your Customers?

Now, I’m back to the main reason any business is profitable in the first place. It’s about the customer, and always about the customer. And there are different types of customers that you should be aware of when starting a profitable business.

That’s why it’s important you start your marketing ahead of launching your business. Some of these customers would only be helpful during the startup stage. Some may not be helpful in anyway. While some customers would be helpful once in a while or always throughout the life of your business or theirs, whichever comes first.

Here are the classes of customers your business may encounter:

  • Customers that loves your business
  • Customers that loves your product or service
  • Customers that would tell others about your business
  • Customers that would encourage others to buy from your business
  • Customers that would never buy from your business
  • Customers that would buy from your business sometimes
  • Customers that would always buy from your business every time

The customers that loves your business are usually the ones that comes in contact with your business early at startup. What they love about your business may not be profitable to you. That includes those who love the product or service, but are a lot better than just loving the business and not even knowing the product or service.

You may have seen those customers that likes, shares and comments on business pages or posts. That’s where you mostly find customers that tells others about your business. Another category are the encourages. Then, those who would never buy.

Finally on the real customers, you will find two different categories that buys from you. One group buys sometimes, either when they can afford it, or when they really-really need it. But the last category is your target customers. They are the kind of customers that gives you 80% of your outcomes. They buy every time. The thoughts of your product or service excites them.

The Skill-Set Of Startups

Let’s look at the skills you have to start a profitable business. It’s not just enough to want to start a business, you should know your strength and weakness. You should understand the important skills your business requires the most. If you don’t know what these skills are, you probably shouldn’t be starting that kind of business.

It doesn’t necessarily have to be you that must have the skills. But it’s important you know the skills you need in your business. You can hire such skills or get some as partners in the business. That’s why I recommended the apprentice program earlier.

These skills are the advantage your business would have over your competitors. You know there are no exact skill sets that are the same degree and experience. Imagine if you are a musician with the most soulful voice in the industry, just that alone can give your music career an edge. That applies to every skill set that you may have.

That’s what skills does for your business. If there are skills you need to acquire, go for it. If there are those you need to have as partners, do so. For the rest or lesser ones, you can hire them to work for you. But be mindful of the skills required for your business and prioritize their level of relevance and benefits to your business.

Conclusion

I didn’t set out to discourage you from starting a business, but to help you start a profitable business. If you really want to do something, at least do it well. There’s no joy in starting a business that would eventually fail.

I strongly believe that you never set out to start a business with the knowledge that you won’t be successful in it. So, you should humbly follow my candid advise here and do the needful. If your business is profitable, you are the first beneficiary, isn’t it?

And my role as a consultant is to help you make the right decisions. If you are having a problem starting your own profitable business, just share your challenges in the comment box and I will be glad to answer your questions. Cheers!

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Start A Business

7 Tips To Starting A Business In Nigeria

There are reasons starting a business in Nigeria may require some extra steps to get it working. Nigerian business environment is a bit complicated, with several issues bothering on the ease of doing business, workers disenchantment and corruption.

If you are starting a business in Nigeria, you have to consider how to deal with all the complication of the Nigerian business environment. Not forgetting that startups die faster in Nigeria than what you have in most other countries.

So, these 7 tips are to guide you on what’s important and how Starting a business in Nigeria may be done successfully.

How Starting A Business In Nigeria Works

The first consideration when starting a business in Nigeria is how you are going to get funded. The issue of funding is a critical problem with starting a business in Nigeria. Interestingly, even where the funds are claimed to be available for startups, the requirements for accessing those funds discourages borrowers.

Another area that affects starting a business in Nigeria is logistics. And most startups don’t even consider logistic issues when starting a business. But this one crumbles most startups within few years. If the business survives the first two years, it might not escape the third year.

However, the cost of day to day running of a business in Nigeria is a bigger problem because of it’s recurrent nature. The lack of important infrastructures are a big issue with starting a business in Nigeria.

You have to provide your own electricity, water supply and still pay taxes as a business that enjoys these public amenities. There are more problems killing businesses in Nigeria that can discourage anyone from ever dreaming of starting a business in Nigeria.

Yet, the Nigerian economy is rated as the highest ROI in the world, with over 35 Percent returns. That’s the reason you should invest in Nigeria, regardless of the seeming challenges. So, you are welcome to know these 7 tips to get you started.

{1} Don’t Be Afraid To Start From Ground Zero

For most people, starting a business in Nigeria is not possible without money. And since the money is harder to access, they would reel out excuse upon excuse why business can’t work if you don’t have money to fund it. Whether or not you have funding, don’t let anything stop you.

Never be afraid to start from ground zero. It’s safer to risk everything when you still have nothing to lose. And since the Nigerian economy is highly volatile, it’s safer to begin from ground zero and build things up.

Even if you have all the funds, still don’t risk all of it. Starting a business in Nigeria requires that you go slow. The slower you go from ground zero the better for you. At that point, you are easily ignored by everyone including the government.

Tips to Start From Ground Zero

  • Research your market thoroughly
  • Find your least financial startup level
  • Learn how to design and create a website yourself
  • Grow a list potential customers
  • Launch a product or service you can sell

{2} Everyone Starts with Zero Followers

Starting a business in Nigeria from scratch is not new at all. You shouldn’t worry because you are starting from scratch. Everyone starts with zero followers. And you are not the first to do so.

This could discourage you as a startup in Nigeria. The fear of who would patronize your business may cause you to forget your dream. There are ample examples of failed startups everywhere. And these kind of information is affecting most people’s interesting in starting a business in Nigeria.

{3} Have A Niche Business Idea

In Nigeria most aspiring startups make light of niche ideas. They just pick the business they consider to be moving. And since everyone is thinking in the same direction, this same moving business soon gets saturated, causing price war and low profit margins. Then, they all crashes out painfully.

You need to standout from this kind of crowd with a unique niche idea. Sometimes what works best might just be a simple idea with a unique brand. You need to create a niche that would give you an edge over the competition.

The best niche is the one that deals with a specific area of marketing which has its own particular requirements, customers, and products. The more specific your niche, the better it is to easily identify your target customers and focus better to win them to your business.

How To Find Niche Ideas:

  • What’s your interests and passions?
  • What problems can you solve?
  • Who’re your competition?
  • How profitable is your niche?
  • Start with testing out your idea

{4} Get Your Facts Right

One of the major problems with startups in Nigeria is not having the right facts when starting a business. There’s so much assumption that people follow when starting a business in Nigeria. And these has lead to many business failures.

Business is built on factual data. You must know what makes the business viable before investing in it. These general assumption that it’s a moving business is a disaster. If a business must work, it should have a target market that you can reach with a potent provision they are willing to pay for.

Get your facts right in anything you are doing when starting a business in Nigeria. Don’t be misled by assumptions. If possible, hire consultants to help you get to the facts. The facts should help you make informed decisions about the location, market potential, demand and trend.

{5} Conduct A Feasibility Study

One way to get your facts right is by conducting feasibility study. A feasibility study is an important part of starting any business, especially when it’s a business in Nigeria. You need to have a proper business plan that would guide your investment.

Although most Nigerian overlook this aspect of starting a business. They see it as unnecessary and unimportant to their business. And even where they agree to it, their choice of a copy and paste plan is another defeatist strategy.

You cannot copy another business plan to use unless it addresses the same market by same location, the same niche and the same product or service. A feasibility report should include financial statement and marketing plan as well. And without a proper study everything will become pure assumption.

Steps On Writing Feasibility Study

  • Conduct a preliminary analysis
  • Prepare a projected income statement
  • Perform market research
  • Plan business organization and operations
  • Prepare an opening day balance sheet.
  • Review and analyze all data
  • Make a go or no-go decision

{6} Find The Market First

The facts of the market should be clear to you. It’s not enough to know the target market. You should know where they are and how you can reach them effectively. Most of what the market should be would have been researched in the feasibility study.

You should know what the market can offer you in terms of market size, purchasing power, demand for your product or service, including the reason the market needs your product, etcetera. Don’t be blind about your market.

The most important aspect of finding your market is planning your marketing. You need to know how you can reach the market effectively. What advertising option is more effective in reaching your target market? The cost of costumer retention and profit margin should be very clear to you as well.

Tips On Go To Market Strategy

  1. What’s your value proposition?
  2. What’s your target audience?
  3. What’s your product strategy?
  4. What’s your marketing channels?
  5. Do you have an achievable timeline?
  6. Have you gauged your success?
  7. Do you know the common pitfalls to avoid?

{7} Build A Trusted Brand

In Nigeria a brand gets all the advantage. You need a brand to attract the right kind of customer base. And your brand is what will stand you out in a competitive market. But having a brand in Nigeria creates the right impression about your ability to deliver on your promise.

The same workers disenchantment affects customers as well. They have seen too many disappointing service deliveries that they can number few businesses they know delivers on their promise. Starting a business in Nigeria that will succeed will start by identifying those things that earned your competitors bad name and improve on them.

You should learn all the simple steps on brand development. But most importantly emphasize on your brand promise because that’s what the consumers would focus on more than the brand image and coloring.

You will also need to read this post on: 10 Simple Steps To Brand Your Business. It will help you learn how to better position your brand to win.

Conclusion

Starting a business in Nigeria is about simple things you need to know and do if you want to succeed as an entrepreneur. You need to know that funding is not the only issue that affects businesses in Nigeria. There are other things that are self inflicting that entrepreneurs do but don’t see any harm in it.

And if you want to start a business that Nigerians will be proud of, start with building a brand. One thing you must know about brand is that it’s beyond the image and color. It’s like a solemn promise to deliver a better promise than your competitors, to a market that is disenchanted.

You cannot win in Nigeria if your only strategy for success is putting more money and expanding nationwide. You have to think like Nigeria, by considering all the negative challenges and navigate your way around them. Remember that the sole reason for business is to solve problems that people have and are willing to pay for the solution.

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Grow Your Business

10 Simple Steps To Brand Your Business

As a startup, how you brand your business should be major in your planning processes. It’s something you plan from the beginning on how you intend to build your business brand. If you missed this out when you started, it’s still not late. You can start now using this guide to grow your business brand equity from scratch.

The concept of branding your business is a marketing practice of creating a name, symbol or design that identifies and differentiates your company products or services from others. It’s represent the symbol of your unique brand voice, from your mission to message and brand personality.

Entrepreneur explains that for a brand strategy to be effective, it must have a major edge in an increasingly competitive market. This edge is what makes your brand stand out from the competition.

Why You Should Brand Your Business

Branding is a promise your business makes to its customers. It’s the why of your business. And the reason customers should come to you, as an answer to their problems.

When you Brand your business, you give customers reason to trust you, see what you are offering in confidence, and entrust them with the will to use your product or service as promised.

Your brand need to speak the language customers understand that will make them believe in the promise of your product or service. And it’s your guarantee to that promise that it will not fail them.

Benefits Of Branding Your Business

  • You stand out in a saturated market.
  • It gives you credibility.
  • It can charge what you’re worth.
  • It leads to customer loyalty.
  • It leads to returning customers & referrals.
  • It leads to Consistency.
  • It helps to attract your ideal clients.
  • It saves you money and time in the long run.
  • It promotes you confidence level
  • It gives you a clear strategy

Step #1: Determine Your Target Audience

Your branding strategy starts with your target audience. They are the reason you want to brand your business. They represent the real brand focus; who they are, what they want, how they want it defines your brand building process.

The Identify of the target audience for your service or product is an exercise that will affect and benefit all areas of your brand building process, particularly market efforts. Who forms part of this target, where they live or spend time, there purchasing value and many more will be what drives this search.

Also, you want the right audience consuming your content, clicking through your ads, and opting into your email list. Focusing on the wrong audience or not knowing who your target audience are will effect negatively on how you brand your business.

Tips On Targeting The Right Audience

  • Compile data on your current customers, if any.
  • Use Facebook lookalike to identify similar customers
  • Use website and social media analytic
  • Check out the competition
  • Be clear about the value of your product or service
  • Create a target market statement.
  • Test social ads on your target market

Step #2: Establish A Brand Mission

Your brand must have what it stands for. If customers are going to trust you or patronize your business, they need to understand your brand mission. Who you are, what you do and how you do them, are important in brand building.

This is your why: the reason you get up everyday. And before you can build a brand that your target audience trust, you need to know what value your business provides. What exactly will your customers be exchanging their money for?

This mission statement basically defines the purpose for existing. It will inform every other aspect of your brand building strategies. And promotes your value to potential customers or clients.

Tips to Write A Mission Statement

  1. Make it short and concise.
  2. It’s not an essay
  3. Think long-term
  4. Don’t make it too limiting
  5. Don’t be afraid to change it.

Step #3: Research Brands Within Your Industry Niche

If you are always thinking about how to make a brand stand out, don’t skip this step in brand building process. To brand your business, find out how other brands did it before. Start with identifying other brands within your industry niche.

Research your main competition or better benchmark their brands. How your competitors are building their brand may give a clue to how to brand your business in your niche. Especially if you are building your brand yourself and know little about branding.

For instance, study how they have gone about building their brand name and who they are targeting. Those information hold the key to how you can brand your business better.

Step #4: Outline Key Qualities & Benefits Your Brand Offers

You should give customers the reason to choose your brand over another competing brand. And that’s what your brand key qualities gives you advantage to do. Your brand benefits speaks to the target audience about what they would gain from interacting with your brand.

It’s important to note that this is not just a shopping list of features your product or services offer to the customer or client. It should be the questions that customers want answered about their needs.

Think about how you provide value that improves consumers lives – in the outcomes or results that are experienced. It should point customers to a better life, solved problems and the kind of fulfillment they desire.

What are the best expectations of your target market that your brand provides? That’s what your best qualities and benefits should offer.

Step #5: Create A Brand Logo & Tagline

What probably comes to mind when you think about how to build a brand visuals? The logo is like what brand is and remains to most people. Once they have a logo they feel branding is complete. That’s partially true, even though logo is an integral part of overall branding process.

The logo is the key part of how you brand your business. That’s the visual representation of your brand. It’s what most people use to identify your business. For most part in branding, nothing is branded without a logo.

This step may be the one where you need help with execution. You will need help designing a professional logo for your branding. Although, the are several platforms online where you can get a great logo. But having a professional logo may require help from an experience brand expert.

This logo will appear on everything that relates to your business. It should be done by a professional who should also understand your brand strategy, target audience, brand message, voice and personality.

Your logo will become your identity, calling card, and the visual recognition of your promise. And that’s why it’s a lot like the most necessary thing to do to brand you business. The logo maker I recommend is Logogenie.

Tips for Brand Logo Design

DesignHill gave a 9 point tips on how to effectively create a logo design. Even if you are not a graphic designer, this tips will guide you on what’s should form your logo design concept.

  1. Know the brand.
  2. Reflects on the Nature of your business.
  3. Impression Matters.
  4. Use colors in a planned way.
  5. Pick fonts carefully
  6. Chose the type of Logo
  7. Keep it simple and impressive
  8. Make it scalable.
  9. It should also look well impressive In any colorless version or shape

Step #6: Form Your Brand Voice

The main reason you should brand your business is to give it a brand voice. Your brand voice is dependent on your company mission, audience and industry. It’s how you communicate with your customers and how they respond to you.

It’s actually what would help you maintain a brand consistency across all platforms and formats

A brand voice could be professionally friendly, service-oriented, authoritarian, technical, promotional, conversational or informative. Find what’s your brand voice and stick with it in all your brand process. The consistency of your brands voice is what sets you apart from the crowd.

Tips to Define Your Brand’s Voice:

  1. Create unique and impressive words to your brand voice
  2. Create consistency in every bit of content and copy
  3. Increase your brand’s voice through proper channels
  4. Walk your talk.
  5. Consciously grow and adapt

Step #7: Build A Brand Message & Elevator Pitch

A Brand message is an opportunity to communicate on a human level. What this means is that the language you use should be understood immediately while striking an emotional chord. Make your brand message simple and clear.

If your target audience cannot understand your brand easily, then your message isn’t helping your brand. The focus of your brand message should be to convey to your target audience their need for you.

If they can’t find how your brand would benefit them, your message is not communicating to them.

Tips to Build a Brand Message:

  1. Define your brand values
  2. Differentiate your brand from the crowd
  3. Make it appeal to your target audience
  4. Build an impressive message
  5. Make it resonate throughout your communication

And if you are building a brand to also attract investors, you will need to create an elevator pitch. The investors would need to understand your brand message and conviction to deliver its promise. But the pitch would resonate more with investors if its backed by a strong brand focus and not just on your promise.

Tips to write an elevator pitch:

  1. Start by introducing yourself.
  2. Provide a good summary of your promise
  3. Explain what you want from the investors
  4. Finish the pitch with a call to action.

Other things you need to know about elevator pitch includes:

  1. Take your time. Don’t rush an elevator pitch
  2. Make it conversational, and provide them with an alluring sense of agreement
  3. Pitch common and general ideas. Avoid niche words and phrases.
  4. Express brand confidence. Pitch your success on a strong brand equity.

Step #8: Let Your Brand Personality Shine

If you are wondering how to brand your business in a unique way, make your personality stand out in every aspect of your brand building process. Let this uniqueness shine through out your brand points.

To brand your business you need to infuse that your own unique brand personality. What’s that unique advantage you have that characteristically make you stand out? The role of your brand personality is to give it a uniqueness that no other brand can easily copy.

And you should also be consistent with this brand personality across all points of contact.

Types Of Brand Personality:

Investopedia gave us five main types of brand personalities with common traits. And they include:

  • Excitement: carefree, spirited, and youthful.
  • Sincerity: kindness, thoughtfulness, and an orientation toward family values.
  • Ruggedness: rough, tough, outdoorsy, and athletic.
  • Competence: successful, accomplished and influential, highlighted by leadership.
  • Sophistication: elegant, prestigious, and sometimes even pretentious

Step #9: Integrate Your Brand Into Every Aspect Of Your Business

The brand building process never stops. That’s one thing about branding. You keep branding your business for as long as the business exist. It’s not a one-off thing to brand your business. You keep building your brand, and as the business expands your brand strategy expands with it.

Your brand should also be visible and reflects in everything that your customers can see, read and hear. The louder your brand coverage goes, the more customers it attracts with it.

For instance, if a client walks into your store, your brand image should on display both in the environment and with personal interactions. Your brand should breath on everything you do, as far as your business is concerned.

Step #10: Stay True To Your Brand Building

Consistency is key in branding your business. But if you choose to change how you brand your business, let it be only into something that’s more effective. And it should be based on a measured consumer response.

Once you have chosen a brand voice, use it for every piece of content you create. Your brand content should be consistent, and should reflect in all formats of your branding process.

Document all the brand guidelines you create and distribute internally for reference. This will help to align everyone who’s ever going to be responsible for your brand to follow same strategy, design and formats for your brand.

Tips On Brand Consistency Building:

  1. How do people see you?
  2. Build your online platform.
  3. Weave your brand into everything you do.
  4. Be consistent.
  5. Don’t try to please everyone.
  6. Create value.
  7. Align yourself with strong brands only
  8. Follow strong brand-building awareness.

Conclusion

A brand identity is your marketing foothold in your niche market. Branding your business is the best form of marketing. But branding is not just marketing. You brand your business to give it a voice that defines your marketing plan.

And to not brand your business is a grave mistake that you shouldn’t let happen. Unless your business is meant to serve for just a season, branding preserves your business efforts for years to come.

Branding is more than just designing a business logo. Although a logo plays an important role in all branding process, but it’s not all about what branding represents. You need a great logo that will stand you out to make all your branding efforts worth the investment.

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Start A Business

6 Things To Do Before You Start Investing

Do you want to build an investment? There are things you need to do before you start investing. But you need to know the difference between investing and business. Because it’s possible to misapply the two thinking they are the same.

In this post the focus is on investing. So, we are going to focus on those things to do before you start investing. It’s not directly related to things to do before you start a business, even though you can apply some of them and it will work.

I’m drawing this boundary for a reason. There may arise conflict when you are trying to decide which one is a business from what is investing. It’s better you know the difference, so that your mind will properly articulate these 6 things.

Business Versus Investing

To achieve financial success you need wealth creation tools. We have only two options of wealth creation vehicles. It’s either investment product or business, or you are using both.

That’s means investing and business are not the same thing, but the same tools. While a business aims to generate revenue from product and services, an investment aims to produce a return from financial instruments or markets.

But there’s a part of business that’s equally investing. Like, the money you put into starting or running a business is also an investment. In that sense you can consider your money in your business as investing.

However, when investing in business it’s not just about putting your money, it requires more than that. Rather, it brings you into ownership of the investment. That includes your time, energy, experience and efforts are all required plus your money.

Whereas in investing, all that maybe required is your money. While you work for a business, in investing your money works for you.

The 4 Types of Investments

Having clarified that, let me further hint on the 4 types of investing your money. I will just list them here, but will expand them in another post. These four main investment types, or asset classes, has risks and benefits.

However, these 4 assets classes are grouped into 2 distinct categories.

  1. Growth investments
  2. Defensive investments

The first two investment types belong to the growth investments. These are investments that are more suitable for long term investors. They also offer reliable investments, as they are able to withstand market ups and downs.

The two Growth investment types are:

  • Shares
  • Property

But the last two are categorized as defensive investments. These types of investments are more focused on generating consistent income. They are not Growth focused. And are considered as lower risk investments than growth investments.

The two defensive investment types are:

  • Cash investments
  • Fixed interest

Planning To Start Investing

Now that you have an insight into different investment types, it will be more clearer now to understand these 6 things to do before you start investing. However, you should consider these steps as your planning stage.

Unlike starting a business, which you can equally do even without capital, but you cannot start investing without capital. You need money to invest. And if you don’t already have it, then you need to plan for it.

Planning to start investing is as important as the investment. Because if you are going to risk your money, you should think properly before doing so. And that’s why these 6 things to do before you start investing is key to your investment success.

{1} Build An Emergency Fund

If you are going to build an emergency fund it means you are raising your investment capital from your Cashflow. There are several ways you can start building your emergency fund. But the best part is your commitment to the cause.

Building an emergency fund equally means denying yourself and family some needed cash to purchase those needed groceries or items that can improve the quality of your life. So, it’s a sacrifice that would need your commitment till the end.

You can choose what you need to save from. However, if you look properly into your cashflow you might find areas that won’t affect your normal life. That would make it a lot easier to save.

Tips to build an emergency fund

NerdWallet gave a great idea on how you can start building your emergency fund. The site listed some tips to help you do just that. You can read the full blog on NerdWallet here.

  1. Set a monthly savings goal.
  2. Keep the change.
  3. Tidy up your checking account
  4. If there’s no money left, cut expenses
  5. Get supplemental income
  6. Save your tax refund.
  7. Assess and adjust contributions.

{2} Pay Down Debt

Having a debt profile could affect your ability to start investing. So, it’s better to get rid of your debt to give you room to plan your investment. That also includes not getting into further debts of any kind.

You may need to cut your credit cards and any other facility that’s adding to your debt profile. Once you stop accumulating debt, the next thing is to start paying off already existing debts.

Tips to Pay Down Debt:

  1. Pay as much as you can afford each month
  2. Make cuts to your spending
  3. Double up on payments
  4. Use windfalls to pay down balances
  5. Tackle debts with the highest interest rates first

{3} Know Your Cash Flow

Cashflow is key to how you can ever start investing. To be able to start investing, you will need to know how much money you receive and how much is spent on a given period. Analyzing your Cashflow will give you an idea of your investment potential.

How you can start investing now depends on your Cashflow. If the money you have left after a given period is enough to make an investment, then you have a healthy Cashflow. Otherwise, you may need to learn how best to manage your Cashflow to minimize expenses and increase your closing balance.

Tips to Maintain a Healthy Cash Flow:

  1. Reevaluate and fine-tune the pricing of your products
  2. Replace old equipment and inventory
  3. Re-negotiate long-term contracts
  4. Improve your marketing
  5. Monitor your cash flow regularly
  6. Cut costs.
  7. Lease equipment instead of buying it.
  8. Closely track and collect overdue accounts
  9. Don’t extend credit without taking the proper precautions
  10. Keep your inventory lean

{4} Track Your Net-worth

Know your net worth before you start investing. You need to properly evaluate your personal assets. Your assets is what you own. That will include your house, household items, car, wristwatches, phones, laptops, iPads, anything of exchangeable value. If that thing can be exchanged for money, it qualifies as an asset.

Also, you need to consider things that re your liabilities as well. They are things you owe like your debt profile. You should also value them to come up with its financial value. If that thing takes money from you on a regulars basis, it’s called a liability.

Tips on personal net worth statement:

  1. List your assets, estimate the value of each, and add up the total.
  2. List your liabilities and add up the outstanding balances.
  3. To get your net worth you need to subtract your liabilities from your assets to determine your personal net worth.

{5} Define Goals And Priorities

You have to define what your investment goals should be and those you consider priorities as well. You should not start investing without a proper goal definition. What you want to achieve must be clear to you, that’s equally what helps you determine what type of investment or investments would help you achieve your goals faster or better.

And if you have more than one investment goal, it’s proper to try and prioritize them.

Tips for Setting Goals and Priorities:

  1. Choose the right goals carefully
  2. Write down the goals
  3. Put down a plan.
  4. Stick to your plan
  5. Regularly reassess your goals and priorities them.

{6} Understand The Basics

Don’t start investing unless you have understood the basics. As a beginner, this should guide how you invest. Until something is clear to you don’t invest your money. No matter how good an Investment looks like, understand the basics first.

If you must invest when it’s not very clear to you, do it with funds you can afford to lose. Never gamble with your main investment capital.

Tips to learning how to invest:

  1. Decide how and what you want to invest in.
  2. Open an investment account
  3. Set a budget for your investment
  4. And Start investing.

Conclusion

Every entrepreneur must think of investments beyond their business. Plan your investment from day one of starting your business. It’s okay to work for your money, but it’s better when your money is working for you.

The idea of multiple streams of income should not be to start many businesses but to have many investment portfolios. That’s the best way to duplicate yourself and still be yourself and enjoy your life.

If you must start a business it’s okay, but I recommend that you start investing. You can start multiple investment in one year but starting multiple businesses may take you a lifetime to achieve.

Having multiple businesses maybe a dream come true but having multiple investment is the fastest way to grow wealth.

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Start A Business

11 Smart Business Ideas To Start Without Capital

Imagine having great business ideas but not having the capital to get it Started. Many startup ideas perish because the founder lacks capital to fund his business ideas. Come to think of it, what would you do if you know hot business ideas you can start without capital?

I want to show you some of these business ideas that are potentially profitable and you can start off right now. Of course, the reason your can Start now is because you can start without capital.

Sometimes the idea of starting without capital might be misunderstood. It doesn’t means money won’t be spent in any way. For example, you might need to pay for an internet connection to use the internet. That’s a cost, but which may not necessarily amount to a startup capital.

What’s Startup Capital?

EquityNet gave us a definition of startup capital as the money that is required to start a new business, whether for office space, permits, licenses, inventory, product development and manufacturing, marketing or any other expense.

Basically, startup capital is required for those things you may not have need for unless it’s because of the business you planned to start. So, if you probably have Need of an internet even before you planned to start a business then it may not qualify or be calculated as a startup capital need.

That’s doesn’t mean when you start the business you can’t put internet as one of the business expenses.

But starting a business without capital is because those business ideas are either offered through means that may not require the need to procure expensive equipments in order to serve your target customers.

Ideas To Start Without Capital

I have selected just 11 of these business ideas that’s guaranteed you can start without capital. The beauty of these startup ideas is their skill-based advantage. They are businesses you can start with just your skill set.

And all of them you can start online, without the requirement of having startup capital. In this case, your skill set has become your capital. You are offering your skills to potential clients in exchange for money.

However, these are not just the only business ideas you can start without capital. There are also those you can start offline as well. But here we have just these 11 ideas and I hope they address you needs right now.

{1} Affiliate Marketing

Affiliate marketing is one of the businesses you can start without capital. I choose affiliate as number on this list because its easy to start. You can start earning money from affiliate business right away.

All you need to do to start an affiliate business is to sign up with an affiliate company. And there are many of them online. When you signup you are issued with a custom affiliate link that’s linked to your account with them.

It’s from this link that your affiliate commission work is recorded and calculated to be paid into your affiliate account. The only work required from you is to promote that your affiliate link to your audience to get them to visit the link and patronize the company or products listed on the link page.

{2} SEO Specialist

An SEO specialist is a skilled job by someone who specialized in search engine optimization techniques. It’s another business idea you can start without capital.

The job of an SEO specialist is so relevant to online businesses and their bottom line. You excel in this business if you know how to scale up web traffic faster for online businesses.

You can either setup you SEO business using a website or join freelance sites to promote and tract potential clients who need your SEO techniques to boost their online business.

{3} Social Media Marketing

The relevance of social media marketing has grown to the point that is at the top of marketing plans of most companies. You expertise in marketing for companies on social media is highly sought after skill.

But your relevance as a social media marketer grows by the level of accounts you are managing and the dollar amount behind them. There are marketers who are managing accounts worth billions of dollars.

To start as a social media marketer you may need to grow your own presence on social media, targeting potential clients who would require your services. Your social media influence is an added advantage and your promotion tool to get clients to believe in your ability to also promote them on social media.

{4} Music Ghost Writer

The music industry is one of the most profitable niche in the world. Music is branded as a global language, which gives it a global appeal irrespective of the language used in the music.

You can write songs for top musicians in the world and be paid handsomely and with royalties. You can also translate music into a foreign language to help the musician target new audience. Music ghost writing is one the best examples of a business you can start without capital.

{5} Freelance Wed Developer

Web developing services is a high demand job. With your web developing skill you can start without capital. There are several freelancing sites where you can register to promote your skills and get potential clients contact you for jobs.

Fiverr is one site where web developers can offer their services on a freelance basis. You can signup with fiver and other Freelance sites to become a freelance web developer.

{6} Freelance Service Designer

As a freelance service designer, your work is to identify any problems with the way in which customers use the service or any improvements that could be made within your client organization.

There are so many Freelance sites where you can offer your services to attracts potential clients.

{7} Sound Pack Designer

A sound pack designer compiles great tracks of sounds for special entertainment, whether in a club or private party. Sound packs is a modern DJ tool, like a plug and play tool that allows you to play great music on a 16 button grid with two hands.

You can start out as a business and get to be hired by clients on demand basis.

{8} Sound Designer

The Sound Designer’s responsibility is to obtain all sound effects, whether it’s recorded or from a live recording, for a specific production. You are also responsible to set up the sound playback equipment.

A sound designers is hired by studios or individuals for a fee. And you can setup a business offering this service to potential clients. You can also employ other sound designers under your business and allocate them to clients for a fee, while you retain their services either on wages or per job basis.

{9} Freelance UX Researcher

In the world or internet and apps, UX is a vital area every company is struggling daily with. The need to improve user experience online, especially as Apps usage is growing, is driving most companies to invest more in UX research than before.

Companies want to understand better why their UX design should be the way it is before they build. So, having a UX researcher, explore their target user expectations and needs would help them target their market with better designs.

Your an offer your services through Freelance sites like Upwork.

{10} Instagram Page

Instagram has become one of the most relevant social media platforms for businesses targeting potential customers. The owners, Facebook, has succeeded in positioning as a major marketing tool.

So, having experience in managing an Instagram page with results can give you jobs from major companies looking to grow their Instagram page.

{11} Personal Brand

Having a personal brand has its huge benefits. One of it is helping you startup a business without capital. As a personal brand you leverage on your brand personality to start without capital, irrespective of the type of business, but especially those that requires brand identity to boost its acceptability and patronage.

Benefits of Personal Brand:

  • You get to enjoy people’s trust more
  • It stands you out from the competition
  • It gives you authenticity without any proper evaluation
  • Opportunities are also attracted to you
  • Your value is higher and people will pay more for your brand
  • You enjoy expert status even with little knowledge of the niche

Conclusion

Finding the right business idea that you can start without capital doesn’t always come easily, excerpt you already have the required skill set. Although you can also acquire new skills online for free. There are YouTube channels that teaches skills you can learn for free.

However, to succeed in a business you can start without capital would require some diligence and expertise. Also, having a case study that clients can refer to would help promote your business and land you jobs faster.

How you do what you do will stand you out and attract potential clients to you. That means, you need to find ways to differentiate your business from the competition. Offer your service in a way that stands you out and make your customers need you more than you need their money.

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Uncategorized

How To Make $10000 A Month Blogging

The best way to make $10000 a month with a blog is to start a blog. Starting a blog have been simplified for beginners with a hosting plan that easily integrates with one-click install for different blog engines.

And beautifully design themes with SEO features. But what I’m going to guide you through is how to start a blog that can make $10000 a month.

On The Best Way To Start A Blog, there are vital factors you also have to consider:

1. You need web traffic to generate money

2. And you need to define your traffic sources

3. Also, you need a useful conversion funnel

4. You require funds to invest to make $10000 a month income?

These should be your most important considerations when starting the blog. By defining what you want to achieve with your blog, you also should have a definite plan to meet it.

So, I’m going to take you through all the stages and how best to implement a blog with a revenue target to make $10000 a month. However. I will also like to clarify that a blog with such monthly revenue can have a value of over $300,000.

That means if you have a blog that is generating $10,000 a month in revenue, you can sell it for as much as $300,000.

Okay, let’s go back to the best way to start a blog. You need to know what to do and how best to do it.

Define Your $10,000 Niche Blog

Everything about starting your blog should measure up to your dream. You can’t have a $10,000 niche blog on just any topic. You have to research the right niche that can generate that amount of money fast.

You have to start by defining your customer persona. Who is your target audience? What do they want? What is their most important need? What is their population? What’s their income level? Where can you find them? Where do they do live? What do they have in common? How much can they possibly afford for your product?

Your target audience helps you narrow the kind of people your product is designed to help. It saves you the cost of promoting your blog because you can focus only on the right audience. And you can quickly identify what they want and how they want it.

Your blog cannot make an insane amount of money unless targeted at a niche. The best word to define a niche is a PROBLEM. A niche is a problem that is common to a group of people.

However, their population is of great value in achieving your monthly target. How large is your audience? You are probably not the only blogger reaching them. So, the larger the audience, the better.

Also, knowing how much they can pay for your product would help you calculate the amount you can generate monthly. If the price and the volume don’t match, it’s either you are going to adjust your audience target, or you are marking up the cost of your product.

Your $10,000 Revenue Models

The profit value of your blog depends on your two things – your traffic volume and revenue model. Your niche is essential to your revenue model. The purpose of niche blog is to drive targeted traffic. It can also be used to determine the kind of revenue model that suits your target traffic.

There are three basic revenue models for blogs.

1. Adverts

2. Affiliates

3. Products

You can implement any of the three or all as your revenue strategy. However, choosing the best models for your blog is not that simple. There are factors you should consider.

Apart from choosing revenue based on your target audience, traffic volume, one more choice is determined by what you plan for your blog future. Should you be selling the blog in the future? That should affect the revenue choices you make.

And because Revenue decision is not a one-size fit all, you have to consider all the factors that surround your blog before making your choices. Although, one Effective way to do that is looking at what other similar blogs are doing and merely copying the models that worked for them.

How Do You Generate Traffic For Your Blog?

How people find your blog is relevant to your target. You should define your blog traffic sources. You need to know what type of traffic will work for you and how much it will cost both in cash and time.

No matter how large your audience, your traffic source must be practical and affordable. You can’t spend more than your revenue target on marketing your blog. So, you need a traffic source that can generate the right amount of traffic that is affordable as well.

There are two main traffic sources used by successful bloggers. Paid Traffic and organic or free traffic. You have to consider these two in line with your target. And choose what best applies to your blog.

Paid Web Traffic:

You need to see how this traffic source works for your target. There are key advantages and disadvantages as well. You have to consider both to see how they measure up for you.

Advantages Of Paid Traffic:

1. It’s fast to implement

2. You can start generating traffic almost immediately

3. Little or no experience required to use paid Traffic

4. You can define the volume of traffic you want

5. You can control the audience that sees your blog

Disadvantages Of Paid Traffic:

1. You pay for every visitor you get

2. Requires a robust budget to fund marketing

3. Traffic stops where your funding stops

Organic Or Free Traffic:

The online traffic comes from organic sources like search engines, other websites and social media platforms. It’s also free. However, the process of achieving organic traffic is not entirely free.

Advantages Of Organic Traffic:

1. It’s free web traffic

2. It’s sustainable and expandable

3. The traffic grows as your blog grows

4. It’s a source of a massive amount of free web traffic

Disadvantages Of Paid Traffic:

1. It takes times before you start seeing the traffic

2. You need to have experience in SEO Techniques

3. You cannot entirely control the audience that visits your blog

4. You cannot control the volume of traffic as well

5. You are at the mercy of search engine algorithm

Estimated Traffic To Make $10000 A Month:

You will also need to evaluate your blog value based on traffic volume and revenue models. However, the only revenue model that can be easily estimated is Google Adsense. You can calculate your revenue on ads.

Although, that won’t give you the exact worth of your traffic if you also planned to use other Monetization strategies. But it’s a great way to start

Know that I’m using numbers as close to average as possible. I’m using a $1 CPC and a 5% CTR. So, the amount of traffic you will need to make $10,000 per month will be close to these figures?

First, you will need to figure out the number of clicks that equates to $10,000
10,000 / 1 = 10,000 clicks.

If you need 10,000 clicks at 5% CTR, the total traffic should be…
10,000 / 0.05 = 200,000 visitors

You will need 200,000 visitors a month. Per year will be

200,000 x 12 = 2,400,000

200,000 visitors every month you will make $10000 a month from Adsense. Although, that is just an estimation. We also did not consider other revenue sources you may add to your blog.

I wanted you to have an idea of the amount of traffic that could be involved. If you have other revenue sources, you might require less than that. Also, the average revenue per visitors will affect the volume of traffic you need too.

What Would It Cost You To Start A Blog?

I will try to look at both what it might cost to start a blog and run a blog. Based on your traffic source we can define and analyse your cost estimates on running a blog. That would largely depend on how You Want to run your blog.

Some bloggers outsource most of the operations of their blog to freelancers. See a list of work you can outsource. That will also give us an idea of what it can cost to run a blog as well.

1. Blog setup and premium theme installation – $100/One-off cost

2. SEO implementation – $500/Month Cost

3. Content Writing, editing and proofreading – $50/topic

4. Adwords and Facebook advertising – $1,000/Month

However, you can also learn to do it yourself. It’s cost effective when you can handle all these things on your own. You can invest time to get the necessary training. As you can see, most of these are recurrent costs. Doing it yourself will be the right choice to make.

Conclusion

Blogs are a profitable platform for driving online revenue. But you have to learn the best way to start a blog and monetise it.

There is no amount of revenue target that is too much to earn from blogging. In fact, some bloggers are already earning in millions monthly. What you need is the passion and determination.

And apart from choosing the right niche, you equally need to invest the right capital in growing your blog. Even if you don’t have the money to spend, running a blog is not complicated.

You can learn anything you want to know about blogging. Even the successful blogs are a learning curve for the owners. Everyone is learning something new at their level. So, start a blog today, and you will be amazed how much you will learn in just a few days.

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