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Multi-Million Naira Company Transforming Business In Nigeria

Having a business company in Nigeria is one of the beliefs that every Nigerian has, because the situation in the country is so unbearable that the citizens depend on themselves for livelihood, the government is undependable and unreliable due to corruption in the system of government. So, every citizen, irrespective of their family background, believes there is no solution to the current situation.

However, many Nigerians now venture into all kinds of lucrative businesses to maintain and sustain their needs and to cater to their families. In this article, you will be learning the process of building a company and it cannot be accomplished without explanation of the ways of starting a business, because it’s a roadmap to starting a multi-millionproblems/ solutions: This is the fastest way to build your multi million naira company because everyone has problem one way or the other and we all need rapid solutions to the problem. As a business guru, you need to search for the problems facing the majority of people and think deeply to find solutions to them, because people are willing to pay a huge price for a problem solver. For instance, Covid-19 has taken over the universe, countries’ health systems are at work in search to be the first to get a cure, and any country that happens to find a cure will definitely rule the world in cash and authority.

 

1. Value of goods and services: This is the quality that makes your products desirable to the customers. One of the ways to build a multi-million naira company is that the customers believe in your products and think they can solve their current problems. So, your products must be worth it because if they cannot find their solutions in your products, it will render them unworthy, and they will share their bitter experiences with other customers. The value of goods and services makes customers to back for more.

 

1. Innovation: This is the situation whereby one thinks outside the box, in the sense that you create something new which is contrary to what people have done. You will make a lot of profit when you are the founder of something rather than following what has been done by competitors, and others follow. To build a multi-million naira company, you need to invent rather than reinvent.

 

1. Affordable price: one of the ways to build a multi-million naira company is to make the price of your goods and services affordable and bearable for all. Let your customers feel the advantage of an affordable price that makes you different from others.

 

1. Employ a team of experts: to build a multi-million naira company, you have to surround yourself with a bunch of experts who know the rudiments of the business. This expert team gives your company a special brand that the customers will not be able to find elsewhere, and you must understand that how you treat them matters because they make or mar the company in the face of the customers. Carry them along and let them understand that they are part of the company; without them, there’s no company.

Make research: building a multi-million naira company in Nigeria isn’t something that can be built in a day, you have to go through a lot of research and Enquiries from reading different financial books and consulting the consultants who have deeper knowledge in business. Multi-million naira businessmen and women in Nigeria today, like Dangote, Otedola, didn’t just get to the top; they did research and also have some business consultants who can unlock the safe bank.

Meanwhile, a lot of multi million naira companies today making their way to the top isn’t just one-day job, they faced challenges and hindrances but what kept them at the top is their patience, passion, resilient, focus and determination, if you have these, then to achieve your own goal of building a multi million naira company in Nigeria will be easy and fast rising.

MULTI-MILLION NAIRA BUSINESS IDEAS

There are lots of multi-million naira business ideas in Nigeria that one can invest in to multiply the cash. Nigeria’s population of over 200 million citizens has helped in the growth of multi-million naira business ideas, and with this population, a lot of companies have earned millions of naira. Some of these business ideas and fast-growing businesses are as follows:

1. Agribusiness: Since the days of memory, agriculture has been the major source of livelihood in the world because it produces human daily consumption and it’s compulsory to feed. This is a multi-million naira business that makes way in Nigeria because of the population’s food consumption.
2. Education: This is a fast, multi-million naira idea. There is no doubt that Nigeria’s education is in turmoil, which has led to the private schools taking over what the government could not handle. Nigerian parents make it compulsory for every child to go to school irrespective of his or her age.
3. Startup loan: This is one of the fastest-rising multi-million naira business ideas in 2020 in Nigeria. You get a loan and pay it back within a given period of time. Every month, the borrower pays 5% of the money borrowed to the loaner, aside from the money he or she borrowed.

The above are just a few of many examples of multi-million naira business ideas in Nigeria in which one can invest and will never regret it. Among them are e-commerce businesses, real estate, importation of fairly used clothes (okirika), transportation businesses, and many more.

BUILD A MILLION NAIRA BUSINESS IN 12 MONTHS

To build a million naira business in 12 months isn’t a piece of cake because it takes a lot of sacrifices and determination, which is not for lazy people, because if it were that easy and smooth, everyone would have been like Dangote or Bill Gates at the blink of an eye.

Meanwhile, it’s what makes some people special because they strive never to relent, because they have what it takes to build a million naira business within 12 months.

According to Ryan Moran in his book “12 Months To 1million”, he stated ways to build a multi-million dollar business in 12 months into three stages, these are:

1. The first stage is the grind, which starts from zero to four months. This is the stage where you have not yet decided what to sell or the products and services you want to render to the customers, which can make the customers come back for more. It’s a stage of decision making, you are making research on what can actually move the market, what product can build a multi-million naira business. So, at this stage, you need to think and rethink because what you decide now determines if you can actually build a multi-million naira business. You must have decided what products or services can actually fetch you a million naira in 12 months before you move on to the next stage.
2. The second stage is the growth stage from five to eight months. At this stage, you must strive to be consistent in your sales and increase your sales per day. This is a difficult stage where you have to build up your customers to increase your sales because if you can sell your products at an average price point of about 5000 naira per day, that’s a million naira business.
3. The final stage is the repetition of the process through products. From nine to twelve months. The repeating process has to follow the same trend you did in the second stage of growth, but in an advanced method, and you must be innovative by introducing new goods and services to the customers.

 

BUILD A MILLION NAIRA BUSINESS IN 90 DAYS

To build a million naira business in 90 days is not as easy as it seems, but it happens if you have the courage and determination. There are several ways you can build such a business company within the period, some of these ways are a Business consulting firm, marketing, e-commerce, etc. These firms can easily build a million naira business because they stand as an intermediary between two different entities. As an intermediary, you bring the buyer to meet the seller, where you earn your commission from both sides. There are lots of companies that want to sell their goods and services, and they need buyers from different parts of the world; likewise, buyers need sellers. Bringing these two together can build a million-naira business in 90 days.

RUNNING A MILLION NAIRA BUSINESS

Having a business company in Nigeria is one thing, but running a million naira business is a major thing because a lot of multi-million naira businesses have been liquidated due to improper management of the business. There are steps you can follow to run a million-naira business. These steps are suggestions if you want to run a million-naira business.

1. Upgrade your customer service: it has been discovered that good customers services give customers a good experience of the business, and it takes a long time to regain customers if they had bad experiences with your product and service. Make customers services your priority, with your present customers, because they are the ones who will bring new ones to you.
2. Grow your marketing skills: Marketing is the market weapon to run a million naira business because it promotes your business whenever you are not there. Promoting your business online and offline gives the face of your business a beautiful face.
3. Employ the right employees: the right employees are the tools in running a million naira business because they scout and keep customers. As a businessman, you must train them. To run a million-naira business, you must hire and train quality staff and keep them for a long period of time.
4. Update your online stock: To run a million naira business, your products and services must be up to date, source new products or ideas that will attract customers to come for it, and get new customers. It shows that you are still on track because customers get tired of old products and services.

These are just a few among many suggestions on how to run a million-naira business. If you can abide by these suggestions, then you are ready to rule the market.

HOW TO BUILD A 100 MILLION NAIRA BUSINESS COMPANY IN NIGERIA

To build a hundred million naira business is not an easy task, but to make the business worth that value then you have to increase your customers. According to the formula below, you can build a hundred million naira business

(TC × GSP) = TI

T C Total Customer.

GSP Goods/Services Price

TI= Total Income

Building a hundred million naira business depends on the number of your active customers and the prices of your goods and services.

Example: if you have Total customers=TC 1000,000 × Prices of goods and services(100) = Total Income 100,000000

1000,000×100=100,000000.

According to the example above, if 1 million active consumers pay 100 naira per year through your products and services, that’s a hundred million naira business. This is more reason why countries with a high population of over 200 million, like China, the USA, Nigeria, etc, are places to sell goods and make money because population helps in business.

 

TEN MILLION NAIRA BUSINESS COMPANY IN NIGERIA

To invest a sum of ten million naira into a business is a huge capital, and it depends on the business you are investing it in. These are some of the ideas.

The transportation business is one of the profitable businesses trending in Nigeria, especially in Lagos, where the population is over ten percent of Nigeria’s population. Transportation is so profitable to invest ten million naira, the thing is you have to buy 3 buses and give them to trustworthy people who will pay when due. These 3 buses can generate an average of sixty thousand naira (60,000)per day, they can easily generate an average of three hundred thousand naira (300,000)in a week, and a million naira in a month. It is believed that the business is not an easy one, but if the buses are managed by genuine drivers who pay as at when due, it is worth a ten million naira business.

MULTI MILLION NAIRA BUSINESS FOR SALE

To own a company in Nigeria is everybody’s dream, and nobody wishes to sell his or her company even if it brings little income, as long as it is owned by you or you are among the group directors. it’s sad to see a multi-million naira business for sale. a lot has happened, and several reasons might have led to that. some of the reasons might be partnership conflict, liquidation, not profitable, death of the owner, family inheritance, etc.

Meanwhile, if a multi-million naira business company in Nigeria is put for sale must attract buyers because the qualities of this business make buyers come for it with huge capital. Some of these qualities are,

1. It must be a profitable business.
2. The customer base must be huge
3. No debt

When you are selling the business, there are documents you need to put together because these documents are what the buyer wants to see, and that can convince him to buy.

1. Cooperate affairs commission certificate.
2. Financial statements.
3. List of what has been sold.
4. Summary of how the business is being operated.

 

IN CONCLUSION

A multi-million naira business company in Nigeria for sale must follow the aforementioned list to make a profit after the sale. Business is the only way that can change someone’s life forever, and it can only happen when you have a business because business owners who pay a salary invest in people and products.

By Kingkentus