damiOluwatoyinbo.com

If you haven’t read the first part, you can do that here.

Let me give you the other points Dr. Maduka shared.

• Accept that EVERY ENTERPRISE NEEDS PROFFESSIONAL MANAGEMENT.

His words :”When we started, I and my wife made all the decisions but we later realized that we needed to hire professionals to expand our business…”

• Forge a TEAM OF EMPLOYEES.

His words :”Don’t just get a group of people.Get able and willing people who understand your vision and help you to accomplish it.“

• Come up with a STRATEGY FOR WINNING in an unpredictable environment.

His words : “You know the government policies change almost every six months in this our country…we have to always study and come up with ways to win no matter what tthe challenges and policies are.”

• RESIST THE TEMPTATION to show that “you  have arrived.”

His words :”…Even after I had made a lot of money, nobody knew.I kept on living a normal life.I was driving the same car, wearing the same clothes…living in the same house I was living in when I was still struggling…Avoid the social pressure to look successful…this shoe I’m wearing, I have had it for fifteen years.Isn’t it still looking good?”

When he said that, everyone erupted in laughter.

• KEEP TRACK OF ALL THE ACTIVITIES of your organisation.

His words :” Don’t just spend without having proper records.Have the details of everything that goes out and everything that comes in.

• GET YOUR PRODUCT into the market.

His words:” Know your customers and keep in touch with them…”

• ANTICIPATE CHALLENGES

His words :”Problems always show up.You must prepare for them to win”

If you ask me, that’s a lot to think about.So I’d let you do just that.

Think about it.Remember, WHAT YOU THINK ABOUT, YOU BRING ABOUT.

Meanwhile, scroll down and leave your comment in the box.

If you haven’t downloaded you copy of just do it…DOWNLOAD YOUR FREE BOOK HERE.

P.S. Dr. and Mrs. Cosmas Maduka have a book titled “From Trials To Triumph”

You can get copies from bookstores nationwide.

Enjoy your day.

Last week I gave you ten simple strategies to reduce

your business costs and one of the points I made

was that you should try to trade by barter.Now let

me give you more details on things that you could

get by barter…

1. Information Products – it could be ebooks, “how
to” videos, cassettes, magazines, newsletters, paid
e-zines, courses, etc.

2. Advertising Space – it could be banner ads, ezine
ads, ebook ads, magazine ads, newspaper ads, tv
ads, fax ads, online classified ads, etc.

3. Web Hosting – you could offer a free advertisement
for their web hosting service on your site in return for
free or discounted hosting.

4. Software – it could be for tax software, web site
authoring software, accounting software, newsletter
software, graphic design software, etc.

5. Writing/Editing – it could be for web site content,
promotional articles, press releases, e-zine articles,
promotional ebooks, etc.

6. Accounting/Bookeeping – you could offer a no
cost advertisement in exchange for their accounting
and booking services

7. Consulting – it could be market consulting, legal
consulting, computer/software consulting, business
consulting, etc.

8. Copy writing – it could be for brochures, business
cards, classified ads, sales letters, product packages,
banner ads, promotional products, etc.

9. Merchant Accounts – you could offer no cost
insert ads in your product packages in exchange for
the option of accepting credit cards.

10. Internet Access – you could offer a no cost
pop up ad on your web site in exchange for free or
discounted Internet access.
—-

One of my reasons for setting up this blog is to provide information on how you can maximise your business potential.Now I’m not trying to suggest that I’m a business guru.I’d let time and the results I produce do the talking for me but I must also make it clear that I know a few things that could significantly increase your bottom line.

Here are ten effective ways to reduce your business cost without compromising your product and service quality…

1. Barter If you have a business you should be bartering goods and services with other businesses. You should try to trade for something before you buy it. Barter deals usually require little or no money.

2. Network Network your business with other businesses. This will cut down on your marketing and advertising costs. You may also try bartering goods and services with them.

3. Wholesale/Bulk You’ll save money buying your business supplies in bulk quantities. You could get a membership at a wholesale warehouse or buy them through a mail order wholesaler. Buy the supplies you are always running out of.

4. Free Stuff Visit some of the thousands of freebie sites on the internet before buying your business supplies. You can find free software, graphics, backgrounds, online business services etc.

5. Borrow/Rent Have you ever purchased business equipment you only needed for a small period of time? You could have just borrowed the equipment from someone else or rented the equipment from a “rent-all” store.

6. Online/Offline Auctions You can find lower prices on business supplies and equipment at online and offline auctions. I’m not saying all the time, but before you go pay retail for these items try bidding on them first.

7. Plan Ahead Make a list of business supplies or equipment you’ll need in the future. Keep an eye out for stores that have big sales. Purchase the supplies when they go on sale before you need them.

8. Used Stuff If your business equipment and supplies don’t need to be new, buy them used. You can find used items at yard and garage sales, used stores, used stuff for sale message boards and newsgroups etc.

9. Negotiate You should always try negotiate a lower price for any business equipment or supplies. It doesn’t hurt to try. Pretend you are talking to a salesman at a car lot.

10. Search You can always be searching for new suppliers for your business supplies and equipment. Look for suppliers with lower prices and better quality. Don’t just be satisfied with a few.

Get more information about business development here!