BUSINESS MANAGEMENT Nigerian Style

INTRODUCTION :

Businesses are classified in categories globally and in Nigeria.. The existing categories are, micro, small, medium and large enterprises.. For the purpose of our interaction we will dwell on micro, small and medium scale businesses..
These categories of businesses are legitimately recognized in Nigeria when registered with Corporate Affairs Commission of Nigeria.. CAC..
The micro business is what we refer to correctly as the One-man business… Usually with very little capital as low as N1000 to N50, 000… This type of business is mostly started at the spur of the moment.. Because it generates quick income which helps in sustaining the owner and his/her immediate family…
The small scale business is also often started at the spur of the moment.. But also a good number of businesses in this category were well thought out and even planned to start as a small business with the intention to grow to medium and large scales..
This small scale business can be operated by one to three persons..the small and medium sized businesses are the most operating businesses in Nigeria… They both provide employment for an estimated 40% of productive population in Nigeria.. It is estimated that if encouraged to grow up to 70% of the employable population, hunger and poverty would be reduced to below 5%….the current rate of poverty is estimated to be about 45% in Nigeria.. This is negatively high..
The medium scale business is a business that is operated by three to ten persons or more as the case may be.
It is believed in sustainable development circles that if government and other well meaning organizations support this category of business, it Can eliminate unemployment and poverty or reduce them to its barest minimum of as low as 2%to 3% poverty rate of the population… Waoh!!! This level of poverty In Nigeria would really be insignificant and would easily promote prosperity amongst the people… Well we sure will get there someday soon with the right leadership and vision in place…
OK that should do for an introduction… Let us begin the journey…
Please at this point, let us really take note and care of what is said…
In my experience as a consultant and counting, certain principles, processes and structures that would be discussed, if agreeable to the listener can be carefully and cautiously implemented if you have the capacity to.. Otherwise acquire the knowledge here so that at some point when you engage help, you would not be a novice to these things.. So let’s continue…
Concept_Of_Business_Environment_In_Nigeria

 

 

 

Structure of an Enterprise
Every business must have this structure to even operate properly as a business.. If one part or component of this structure is ignored or missing, it can portend avoidable challenges to a business…
The Management Structure – the management provides direction and control for the business.. Usually a role for the business owner..
The management decides the direction of the business; it’s strength, it’s spread and it’s influence and prosperity..
Please note…. Even in a one-man/woman business all these components of the business structure must be operational.. All these roles can be played by one person but if it becomes burdensome, help can be sought….
Marketing and advertising… Your business must be advertised and marketed to your source of patronage.. It is your place as an entrepreneur to know your market (source of patronage) and create effective and productive communication with them about your products and services…
A common trend in the city of calabar in cross river state is the craze to own a spot on the popular Marian road… And some business owners believe that it is sufficient advertising and marketing for their business… Very very erroneous conclusion and harmful to business…
🏀In marketing and advertising, even if your clients / customers are seeing you, you still must go to them and ask if they are seeing you 😆
And there are several ways to do this..
Eg..when you walk into a food market, everybody is calling your attention… You may have just finished buying okro but another person is calling you to come buy egusi(melon).. the women and some of us men on this platform can understand that the two ingredients don’t enter the same pot… So apply this principle or strategy to your marketing and advertising..

Sales
You must have means of selling your products or services.. The sales is the patronage of your business.. And patronage makes sense in business if your sales takes care of your business expenses.. Otherwise obviously sales is not enough…that is where business owners source for loans to close the gap.. We will discuss more of this in business growth..
Product/Service support
Often times this goes together with sales.. Your customers and clients must be supported to derive the maximum satisfaction from your product or service… A fashion designer needs to create communication and assurances to your clients that if the material does not fit, please bring it back for us to ensure it fits.. Do not tell your client to manage it like that because you are very busy…
” Please I am very busy” should not be a language for a product or services provider… It is poison to your business because you can be viewed as arrogant, and puffed up… Make no mistake.. No matter how successful you are in business, you certainly need everyone who is willing to pay for your product or services..
▪️▪️Trust me you do… That is business growth… Otherwise ask Dangote  😆
Accounts and Records
This also includes internal audit…. Every business requires to keep accounting, sales, purchasing /expenses, and products records.. This is not just for tax purposes… But you need to keep records of your income, expenses and purchases concerning your business.. This insider information helps a lot in your directing and exercising control over your business…
Maintenance… There must be a maintenance component of your business.. This component enables your articles of trade… Tools of trade to function untimely.. If your business is by Talking, you must have measures in place to ensure your voice is never cranky or overworked… That is good maintenance…
So if you have been operating your business without these full compliments in place.. It would naturally hamper your business development/growth ..
Because what we have experienced over the years is that business owners expand without the necessary due diligence development, only to close shop /business in the near future because of seemingly bad decisions or grabbing opportunities that exposed their inefficiencies and thereby challenging their existence…
An example in calabar here (please calabar residents and indegenes pardon.. I am one of you)…
Before I relocated to Calabar city for a business opportunity, I used to hear the prosperity of the state in tourism and entertainment… Waoh!!! So when I got the opportunity to come to Calabar, I was excited…that was about 4years ago.. I missed a good habit I used to have of seeking current information before venturing out.. So I came into the city..
My first observation was that tourism and entertainment have been confined to a part of the year, no longer an all year round business… To save time here.. I realized that the tourism and entertainment industry and business died or do you want to say dying?? Go ahead… In cross River State because the government of the day changed focus.. The question that I asked was… What happened to all the beneficiaries of the boom of that government?? The hotels… The hang outs.. The fun places and sites?? Comatose… Why?? Because government diverted their attention somewhere else and that exposed the inadequacies of the those beneficiaries, because on their own they could not do what government was doing for them… Attracting patronage….
But if while the boom lasted, these beneficiaries built capacity and took over the driver seat from government by promoting patronage for themselves, by today, Calabar would have been like… Lagos, or Hollywood etc.. Operating by their own economy independently…

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ema

Emmanuel is a Content Producer with a drive to develop people through his writing
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