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Entrepreneurship

BEFORE YOU START THAT BUSINESS; Read This!!!

by Ore Solana

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Remember that United Nations World Youth Skills day event I spoke at? Here are a few points from the talk i delivered; I adopted a few of them from Bedazzle’s first day, some I learnt by reading books (I’m a knowledge junkie)/attending business classes/seminars and others I learnt the HARD WAY!

1. Keep proper records; separate the business’ money from your money, you are 2 different entities. Buy a current diary and enter in every single daily credit (sales; revenue) and debit (expenses)

2. Never spend money directly from your daily sales; all funds must pass through the bank first

Random Thoughts

Miss Me????

by Ore Solana

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Hello everyone,

Pheewwww it’s been ages. Lot and lots of work out here. I’ve literally been drowning in work.

From lots of rhinestone orders for my customers to training classes to advisory sessions for start-ups I mentor.

I hope I haven’t missed out on too much though. What have you all been up to?

By the way, I sponsored a basketball team and we WON!!!!! Guess who made the official tournament tees?!

Relationships

RELATIONSHIPS 101: fastest way to move from single to M-A-R-R-I-E-D

by Ore Solana

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We, Humans disagree on a lot of issues ranging from sports to politics to fashion etc but we all seem to agree that marriage should be enjoyed and not endured. We also do agree that marital bliss to a great extent depends on finding and marrying the right person a.k.a Mr. Right/Miss take-home-to-mama; but with the advent of human hair weaves, smart phones and co there seems to be an increasing decline in the ready availability of wife/husband materials.

Girls say they need men they can pound yam for because “God knows the boys of today deserve indomie”. I laughed sooooooo hard the first time I saw this on someone’s “social media” personal message. It was really hilarious (still cracks me up)

Entrepreneurship

ENTREPRENEURSHIP 101: Simple BOOK KEEPING tips for the small Business Owner

by Ore Solana

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So I woke up this morning to balance my accounts. It’s such a daunting task for someone like me, with a medical science degree!

I started out with writing my books in a jotter in plain English ” I bought this and sold this” but I had a hard time reconciling it so I moved on to drawing a table in the jotter (S/No; Date; income; expense; remarks)….reconciling this was much less tedious but I knew it could be done better.

That was my EUREKA moment

I asked myself ……what stationary is printed with Dates and line? ………

DIARY!!!

……….. I started using diaries……….so as it stands, i have a diary of “mybooks” for every year I’ve been in business (asides the first year)

I no longer have to rule in Dates! I just write “Revenue, Expense and remarks (cash deposit into bank account) if any” under each pre-printed date etc.

It’s easier for accountants to upload the data I’ve collected on excel (or any accounting software) and work out profit and loss and the likes!

If you struggle with keeping proper books for your business; Go and buy a Diary today!

Relationships

. . . He committed S-U-I-C-I-D-E??!!!

by Ore Solana

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Depression is a really dark place…..and I’ve been there.

Social media tends to mask a lot of people’s pain with the happy-looking pictures; the 2-fingers-in-the-air; the dab and the weh-done sir images.

Yet after all the likes and comments; and people are back in their own quarters/rooms, life tends to stare them right in the face.

You look at yourself and feel worthless; underachieved, unsuccessful…….. you feel stuck; everyone you know seems to be progressing considerably forward………or so it seems……. that’s what we see on their various social media profiles anyways.

You seem like you’re going down a big black bottomless hole; drowning; clutching at straws …..with no end in sight to this “predicament.”.

You speak to church members and religious leaders and all you get is the usual “all is well” or “God forbid..you cannot be depressed” or “I bind the spirit of
depression”

I’ve been there

A lot of people have been there too

You feel like There’s no one to talk to. “No one understands”; “no one cares”.

Psychologists/psychiatrists can help you. It doesn’t mean you’re “mad” or “going crazy”; these are professionals; trained and certified and sworn to secrecy. Please Book an appointment to see one and just T-A-L-K; You can also call the Nigeria Suicide Prevention Initiative Hotline +234 806 210 6493.

Furthermore, if you know yourself really well and can tell what activities brighten up your day; then by all means, fill your days with those activities repeatedly until you snap out of depression. It is important to note here that it is possible to forget what activities usually brighten up your day. That’s DEPRESSION.
So, ask your close relatives and friends to remind you!

Activities like Watching movies, dancing (it’s fine to have a dance party all by yourself), singing, listening to music, going on long walks; gisting/hanging out with friends seem to help a few people.

Anything to get your mind off the depressing thoughts.

Depression is a really dark place…..and I’ve been there.
Have you?
How did you snap out of it?
Your story might help someone !!!
Please share
(Image credit: Google)

Entrepreneurship

ENTREPRENEURSHIP 101: Business Policies

by Ore Solana

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News broke sometime ago on Instagram. Freeze called out a certain lady, Kibati, for refusing to pay him for an event appearance/ performance.

The lady in question, argued that she didn’t owe him a dime. Apparently she had reached out to him about a joint appearance with him and DJ exclusive. He pegged their “joint” fees at 900,000 naira (I think) and the plan was to get paid 500,000 naira upfront.

DJ Exclusive is reported to have cancelled his appearance (I guess because payment hadn’t come in as scheduled).

According to kibati’s argument, she stylishly stalled freeze, hoping he’ll take a hint and walk away too but guess what? Freeze showed up and freeze “performed” with Gideon.

It’s been a few weeks since and he hasn’t received any payment; which he has now been told he isn’t being owed.

In freeze’s counter argument, he shows when he was contacted and practically begged to help support the event. He also shows an email with a list of questions he is expected to answer (or attempt to answer) at the scheduled event.
There’s no cancellation email. (Well, both parties didn’t put up any)

It’s good to be nice you know! However being nice isn’t good for business. From time to time, certain customers, find and use your mumu button. Experience shows that’s this type of customers come packing a lot of wahala (trouble) disguised underneath a lot of contagious smiles. They promise heaven and earth at the point of agreement (verbal or otherwise), get you to give a little more discount, bend your rules a little etc and then show you H-E-L-L when it’s time to pay up.

So here are a few policies you must NEVER bend….

1. Always Collect at least 70-80% of your payment upfront.

2. Always Collect your balance before you dispatch or upon delivery

3. If your mumu button has been pressed. Refer to 1 and 2 above

I strongly believe that as at the time a potential customer is in negotiations with you, they already have the funds.

So, one-man business or not, make it your Mantra this year, to run your business with standards (systems and structures).

This is the only way you can measure as well as plan your company’s growth.