The concept of reinvesting profits is one that every entrepreneur should be intimately familiar with. Especially in your early years in business, the need to pay yourself can greatly impact your capacity to set aside some funds from your profits for reinvestment purposes. While this is the reality for most growing entrepreneurs and businesses, you shouldn't conform to it. The ideal situation is that you refrain as much as you can from siphoning money away from your business for personal use. … [Read more...] about 5 Strategies for Reinvesting Profits to Grow Your Business
Each time I throw open this question to entrepreneurs; what is the most important word in business? The most frequent answer I get is profit. Profit is a short term view of assessing the health and wealth of a business. Unless you want to stay in business for the short term, don't focus on profit alone. The most important word in business is not profit, but cash flow. Yet, many entrepreneurs strongly believe that profit is the most important word in business. But according to … [Read more...] about The MOST IMPORTANT Word In Business
Unusual Entrepreneurs are in business to make a profit by making a difference. Around here, we simply call it; changing the world and profiting from purpose. Neither is an easy task. While you should always strive to create products/services that positively impact the life of your customers, you should never lose sight of the bottom-line –profits. The more profits you are able to make, the more impact you will eventually make. So in this unusual article, we would be looking at one of the … [Read more...] about 5 Ways To Reduce Inventory Costs And Boost Profitability
When I created this site naijapreneur, it was my dream to make it the #1 go to business resource for unusual entrepreneurs. If I was going to make this dream a reality, then I couldn’t do it all by myself, I definitely needed some vision partners. Over the 3 years that naijapreneur has been in existence, I have been searching for this vision partners who would come on board as naijapreneur faculty members to dish out unusual articles in their various fields of business expertise. It’s … [Read more...] about How To Save Your Business From Self-Inflicted Financial CRISIS!
Continuing our discussion on cracking the profitability code, in this unusual article, I will be sharing some very simple tips you can immediately put to use in your business to increase profitability. It doesn't matter whether you are a small startup or an international corporation; every business is looking to grow its profits. So when it comes to increasing your profitability in business, after considering both the universal laws of profitability and the peculiar elements of profitability, … [Read more...] about Profit Maximization: Strategies To Make Your Business More Profitable
I am yet to come across any entrepreneur who seems to have had enough when it comes to making money through their business. Especially if you are an unusual entrepreneur [purpose-driven], you realize that the more money you make, the more purpose you can fulfill. So, making money in business is not a luxury only a few should enjoy, but a necessity for every unusual entrepreneur. But wanting more money in your business is not enough. The real questions is; “how do you make that ‘want’ a … [Read more...] about The Profitability Code: How To Unlock The Profit Potentials Of Your Business