From The Desk of
Chudi Onyemeri
Lagos, Nigeria.
Dear Friend,
Over four years before I stepped into Entrepreneurship, I've been thinking long and hard about becoming a successful entrepreneur. Although I had a day-to-day job that pays well as a journalist and Editor, that didn't get me excited like the idea of owning a business. I'm sure I'm not the only man that daydreams about the freedom one can have from starting a thriving business.
Because my education and work experience is in the marketing and public speaking, the natural thing for me to do is start a small business in those industries.
And that was what I and my partner did when we started a business known then as Potsherd Human Development Company. The journey has been worthwhile and enjoyable I must say. Because had been alone, i would had left it for something else, but the frustration was evident in my pocket and my personal life. I am sure I would not be ale to handle the pressure by myself, thanks to my partner in business and friend, Tade Esan.
Today, I like to show you some hidden truths of business partnership that helped I an Tade along the way. Starting and growing a business is difficult for anyone but you can cover more ground and improve your chances of success by joining up with the right person and operating as a partnership. If you are thinking of starting a business but cannot decide if you should go it alone or work together with someone else, this article will help by discussing the five most important advantages you will have if you start out with a partner.
1. Your Partner Will Bring In Additional Skill Sets
In addition to the obvious benefit of adding capital to your small business, your partner will also bring in their own unique skills.
Those skills could be related to new business or marketing techniques, or they could even be technical skills that will help you understand your products in a better way. If you feel that you need some additional expertise in running your business, then you could scout for a suitable partner with the required skills. You may be able to utilize their skills in a specific business area, in exchange for a share in the profits.
If you are planning to venture into unchartered territory, then you will definitely need someone with experience in that field.
Having a partner with a lot of new knowledge will also help convince your clients to make a purchase by providing them with better information.
Your partner could also help you enter a new territory for which your present skills were not sufficient.
2. Your Partner Can Act As Your Mentor
If your partner is more experienced than you are, then they could act as your mentor.
This will motivate you to strive harder, especially if previously there was no one to coax or push you ahead. This will result in reawakening your passion for your business.
If you and your partner have many of the same skills, then a healthy competition could result in increased business.
3. A Partner Can Banish Loneliness
Being a sole proprietor can be a lonely job. By taking on a partner, there will be someone to share your accomplishments with, applaud you on your successes and to comfort you during setbacks.
A personal bond often develops between partners that transcends business matters. If you fall ill or are unable to handle your business due to illness or other personal problems, your partner will be able to step in and handle the load.
4. A Partner Can Provide Alternatives
An idea that seems just right to you may not sound equally impressive to your partner. A partner serves as an extra set of eyes – they can warn you if they foresee any risks in your ideas. They may be able to come up with alternative options for the same problem.
5. A Partner Can Bring In New Contacts
Your partner will probably have developed his/her own network of contacts that might prove to be useful for your business. If you find that you want to expand your business, then you will need not only capital, but also another partner who is capable of taking over the new management duties.
Your new partner can take care of the new business, while you continue to manage the existing one, thus helping you to spread your wings.
If you have been eying a running business that is up for sale but are unable to buy it for yourself, then perhaps you should consider taking on a partner who is willing to put up some money.
Picking up a partner who can not only buy the business, but also help in running it could be a great opportunity for both of you to join forces to be successful.
Thus, in addition to getting more clients, you will also have access to new suppliers or vendors. You could probably even get your hands on new employees your partner recommends.
This influx of new talent will result in smooth growth for your business.
6. A Partner Can Help You Expand
If you are running the business yourself, it can be difficult to expand. That’s when partners come to the rescue; they take charge of additional responsibilities and help you undertake new ventures.
7. A Partner Can Help You Take a Break
As a sole proprietor, you could be working 24/7. A partner can take up the slack when you want (or need!) to take a break. This will truly refresh your body and mind - and you shouldn’t mind when your partner decides to take his or her own break.
Bringing a partner into your smooth business can be of tremendous help as you run your small business. Consider the points above, and then make the decision that is right for you.There might come a time in your life when your small business starts to expand rapidly; and in order to grow and survive, you will need to think about adding on a partner.
You should be able to recognize the signs, so that you can find the right partner at the right time.
8. A Partner Help you T achieve your Peak Physically and Financially
If you feel that you are working too hard and that it is physically not possible to put in any more effort into your business, then you know that you need someone to help share the load.
Financially, if you can't manage to invest any more money in spite of your business success, then it could be time to inject some outside capital into your small business.
If you feel that you need some additional expertise in running your business, then you could scout for a suitable partner with the required skills. You may be able to utilize their skills in a specific business area, in exchange for a share in the profits.
If you are planning to venture into unchartered territory, then you will definitely need someone with experience in that field.
9. A Partner Help You Plan To Exit from the Business In The Near Future
If you have plans to sell your business for any reason, it would be a good idea to pick up a partner, teach him or her the ropes of your business and then transfer your shares when you exit the partnership.
This will ensure that your clients get used to dealing with your partner while you are still in the business. This benefits you partner as well, as they will be ready to run the show on their own once you have made your exit.
10. A Partner Help You Retire Early
If age is catching up with you and you do not suddenly want to sell your business, then taking on a partner will ensure that the baton is carried forward once you have retired from the partnership.
In this case, you can act as a mentor and guide to your partner until he or she gets the hang of running the business. Don't discount the idea of taking on someone much younger; often, a young partner can also bring in fresh, new ideas.
Taking on a partner has many advantages. The key is to recognize the signs that it's time to get some much-needed help.
By the special grace of God, I will be showing you next week, Five Mistakes People Make In Selecting a Partner And How You Can Avoid It.
Stay Rich And FREE,
I Remain Your Millionaire Friend,
CHUDI Onyemeri
coachchudi@gmail.com
+2348030868300
Friday, July 16, 2010
Tuesday, July 13, 2010
THE MULTI-MILLIONIARE BARBER
From The Desk Of
Dr. Chudi Onyemeri,
Cocreator, THE MASSIVE PROFITS CLUB,
Lagos, Nigeria.
17/06/2010
Here's a fast little story that can change how you do the ordinary
into the extraordinary.
It won't take but a minute to share.
For five solid years I've been loyal to a hair stylist for my hair cuts.
It was only until last year that I got to realized that this hairstylist was very much richer than I was.
And when she got to N500 for a 10 minute hair cut. This man has over 5 locations in Lagos State alone.
I know so many poor and broke barbers, but this one is just too different fromn the thousands of barbers that I know. He is the cofounder of One Two N' Two Headquratered in Lagos.
I attended a workshop sometime last year and guess who was the speaker. It was this Barber. Until, he spoke about how much he makes from his barber's shop, I never realized how rich he was. upon doing a research, I discovered his barbershop was listed among the top ten barber shop iN Africa and has been a recipient of several awards.
I heard say that he and his partner are positioning their Barbershop for Franchising. He told me and Tade when he decided to interview him in his Lagos office. I watched him been interviewed on Television on Six different occasions on Lagos Television (LTV).
He Is Proud Barber and a "Happy Barber."
His clients includes several millionaires and billionaires in Nigeria. His companies travels on weekend to Abuja to give some of the senators haircuts.
We decided to meet Him one day and conduct an interview with him
We parked and walked in.
There were twelve barber chairs all facing East towards a mirrored wall.
And all chairs were filled with customers.
I sat and gawked in amazement as we waited for him to attend to us.
Above the mirrors were pictures of young boys with different hair
styles.
Each photo was numbered.
The oldest barber waved us over.
He said.. You, sit, your turn.
I said, 'Don't worry, That is not what I am here for.'
He must have been 40.
I asked him how long he had been in this location.
He said "since inception."
His English was great. He said to me, 'Here we don't cut hair, we bring out best in face.'
In the interview we had with Chuks Maduabuchi, he shared his secrets with his and that secret is what we have packaged in a journal that shall be out in July, Known as THE PROFITS LETTER and only those who care to subscribe for it will own it
For a piecemeal of 5OO Naira, you can own 12 monthly editions of THE PROFITS LETTER.
What are you waiting for, own a copy of THE PROFITS LETTER to read his full story.
PS. Whatever "ordinary" thing you do, you CAN make it
extraordinary.
Chuks Maduabuchi is a multi-Millionaire and I envy him, but he told me, 'see, Chudi, This thing is about finding the right strategy.' That is exactly what he described in that Interview.
E-mail theprofitsletter@gmail.com to subscribing to this journal.
Stay Rich and FREE!
Dr. Chudi Onyemeri,
Cocreator, THE MASSIVE PROFITS CLUB,
Lagos, Nigeria.
17/06/2010
Here's a fast little story that can change how you do the ordinary
into the extraordinary.
It won't take but a minute to share.
For five solid years I've been loyal to a hair stylist for my hair cuts.
It was only until last year that I got to realized that this hairstylist was very much richer than I was.
And when she got to N500 for a 10 minute hair cut. This man has over 5 locations in Lagos State alone.
I know so many poor and broke barbers, but this one is just too different fromn the thousands of barbers that I know. He is the cofounder of One Two N' Two Headquratered in Lagos.
I attended a workshop sometime last year and guess who was the speaker. It was this Barber. Until, he spoke about how much he makes from his barber's shop, I never realized how rich he was. upon doing a research, I discovered his barbershop was listed among the top ten barber shop iN Africa and has been a recipient of several awards.
I heard say that he and his partner are positioning their Barbershop for Franchising. He told me and Tade when he decided to interview him in his Lagos office. I watched him been interviewed on Television on Six different occasions on Lagos Television (LTV).
He Is Proud Barber and a "Happy Barber."
His clients includes several millionaires and billionaires in Nigeria. His companies travels on weekend to Abuja to give some of the senators haircuts.
We decided to meet Him one day and conduct an interview with him
We parked and walked in.
There were twelve barber chairs all facing East towards a mirrored wall.
And all chairs were filled with customers.
I sat and gawked in amazement as we waited for him to attend to us.
Above the mirrors were pictures of young boys with different hair
styles.
Each photo was numbered.
The oldest barber waved us over.
He said.. You, sit, your turn.
I said, 'Don't worry, That is not what I am here for.'
He must have been 40.
I asked him how long he had been in this location.
He said "since inception."
His English was great. He said to me, 'Here we don't cut hair, we bring out best in face.'
In the interview we had with Chuks Maduabuchi, he shared his secrets with his and that secret is what we have packaged in a journal that shall be out in July, Known as THE PROFITS LETTER and only those who care to subscribe for it will own it
For a piecemeal of 5OO Naira, you can own 12 monthly editions of THE PROFITS LETTER.
What are you waiting for, own a copy of THE PROFITS LETTER to read his full story.
PS. Whatever "ordinary" thing you do, you CAN make it
extraordinary.
Chuks Maduabuchi is a multi-Millionaire and I envy him, but he told me, 'see, Chudi, This thing is about finding the right strategy.' That is exactly what he described in that Interview.
E-mail theprofitsletter@gmail.com to subscribing to this journal.
Stay Rich and FREE!
Monday, July 12, 2010
HOW TO PROSPER FROM THE CURRENT ECONOMIC CRISIS
From The Desk of
Dr. Chudi Onyemeri,
THE MASSIVE PROFITS CLUB,
Lagos, Nigeria.
15/06/2010
My dear Noble Friend,
Do you know that many would-be entrepreneurs are unsure about starting
a business in this present down economy? With high unemployment and
even those with a job tightening their belts, they figure it is next
to impossible to make a go of a new business. Of course, some aspects
of a start-up are made a bit more difficult by the current economy,
but these are far outweighed by the advantages, both short-term and
long-term. Here are five of the best reasons for starting a business.
1. Opportunity: Dramatic economic shifts tend to alter people's
priorities, thus opening all kinds of doors to business opportunity.
In addition, businesses that fail in a downturn typically fail due to
poor management rather than just lagging sales - thus creating
opportunities for conscientious entrepreneurs to pick up the slack.
There are a million solid business ideas that could be launched
now...you may not get rich overnight, but you will be on the right
path! RARE Mentor would often say, 'There is abundance everywhere if
you can think right.' Opportunity is staring at you right now, if you
can see it. The best time to start is now.
2. Economic Freedom: The first step to making passive income is to
create a business. Business is the vehicle that brings unlimited
wealth into your life. You cannot make success out of your life if you
don't learn to create a business. Every one who is truly successful is
first a business owner.
The purpose of business is not for you to survive the government
economic policy, that is what a job gives you.The essence of a
business is to nourish your life. Surviving the economy means securing
your health, food and family but owning a business that works for you
as you enjoy the wealth it create with those that matter to you. You
don't have to work yourself to death.
3. Financial Future: There is no time like the present for starting a
business on a shoestring. The economic meltdown has proven beyond
doubt that you cannot depend on others for your financial future.
Nobody is ready to carry your financial burden, you are the one
responsible and being responsible is to take up the challenge of
opening your own Money-Making Machine. I was chatting with a friend on
face-book the other day and she told me something about her not doing
anything because she has gotten her hands burnt by the stock market,
but the stock market is not really responsible for your finances, you
are responsible and business is the best way to guarantee your
financial future. customer base. Savvy business owners know that
offering good deals to new businesses will build loyalty as the
economy recovers, and they are willing to do all they can to help you
succeed. And, should your start-up require commercial space, desperate
landlords are offering everything from months of free rent to random
perks to get you moving in.
4. Leverage: One thing the tough economy does for business start-ups
is make it easier to find quality people to staff your business. There
is abundance of talent out there looking for ways to express
themselves. If you give people the opportunity you are using a
leverage. RARE Mentor often say, 'you are living under a close heaven
if you are not using leverage.'Leverage is good for those who knows
how to use it. The idea of coming in on the ground floor of a venture
with unlimited potential is very appealing to skilled go-getter, and
many are willing to work for less now if they believe a payoff is
possible down the road. Whatever specific skill set your start-up
needs, you will likely find several solid candidates who are willing
and eager to help you build your company.
5. Prepare for Recovery: Starting a business now means your venture
will be well-placed to take advantage of opportunities that will come
with economic recovery. Two or three years of solid financial will
make you a good bet for expansion or cash flow loans when you need
them. The management and operations will be running smoothly and you
will have had ample opportunity to plan and prepare for the growth
that should inevitably follow a downturn of this magnitude.
While starting a business in the current economy isn't likely to turn
you into a millionaire overnight, the advantages add up to an
incredible opportunity to secure your future.
Dr. Chudi Onyemeri is the Vice Chairman of RARE Coaching Company,
The world's leading Entrepreneurs Freedom Coaching firm.
Chudi is an experienced business coach and talk show host and
a popular professional interviewer. Chudi has taught 100% offline and
online around the country & around the world to more than 10,000
students.
Chudi has also worked as a coach and adviser to other famous
marketing consultants.
He has a successful audio publishing business. Chudi is originally
from Abia State and is now based in Lagos, Nigeria. Chudi works with
small to medium sized companies to create business systems.
He is the author of the book: "THE CASH-FLOW MENTALITY.
Chudi may be contacted at
coachchudi@gmail.com or at +2348030868300
Please let me know what I can do for you.
Dr. Chudi Onyemeri,
THE MASSIVE PROFITS CLUB,
Lagos, Nigeria.
15/06/2010
My dear Noble Friend,
Do you know that many would-be entrepreneurs are unsure about starting
a business in this present down economy? With high unemployment and
even those with a job tightening their belts, they figure it is next
to impossible to make a go of a new business. Of course, some aspects
of a start-up are made a bit more difficult by the current economy,
but these are far outweighed by the advantages, both short-term and
long-term. Here are five of the best reasons for starting a business.
1. Opportunity: Dramatic economic shifts tend to alter people's
priorities, thus opening all kinds of doors to business opportunity.
In addition, businesses that fail in a downturn typically fail due to
poor management rather than just lagging sales - thus creating
opportunities for conscientious entrepreneurs to pick up the slack.
There are a million solid business ideas that could be launched
now...you may not get rich overnight, but you will be on the right
path! RARE Mentor would often say, 'There is abundance everywhere if
you can think right.' Opportunity is staring at you right now, if you
can see it. The best time to start is now.
2. Economic Freedom: The first step to making passive income is to
create a business. Business is the vehicle that brings unlimited
wealth into your life. You cannot make success out of your life if you
don't learn to create a business. Every one who is truly successful is
first a business owner.
The purpose of business is not for you to survive the government
economic policy, that is what a job gives you.The essence of a
business is to nourish your life. Surviving the economy means securing
your health, food and family but owning a business that works for you
as you enjoy the wealth it create with those that matter to you. You
don't have to work yourself to death.
3. Financial Future: There is no time like the present for starting a
business on a shoestring. The economic meltdown has proven beyond
doubt that you cannot depend on others for your financial future.
Nobody is ready to carry your financial burden, you are the one
responsible and being responsible is to take up the challenge of
opening your own Money-Making Machine. I was chatting with a friend on
face-book the other day and she told me something about her not doing
anything because she has gotten her hands burnt by the stock market,
but the stock market is not really responsible for your finances, you
are responsible and business is the best way to guarantee your
financial future. customer base. Savvy business owners know that
offering good deals to new businesses will build loyalty as the
economy recovers, and they are willing to do all they can to help you
succeed. And, should your start-up require commercial space, desperate
landlords are offering everything from months of free rent to random
perks to get you moving in.
4. Leverage: One thing the tough economy does for business start-ups
is make it easier to find quality people to staff your business. There
is abundance of talent out there looking for ways to express
themselves. If you give people the opportunity you are using a
leverage. RARE Mentor often say, 'you are living under a close heaven
if you are not using leverage.'Leverage is good for those who knows
how to use it. The idea of coming in on the ground floor of a venture
with unlimited potential is very appealing to skilled go-getter, and
many are willing to work for less now if they believe a payoff is
possible down the road. Whatever specific skill set your start-up
needs, you will likely find several solid candidates who are willing
and eager to help you build your company.
5. Prepare for Recovery: Starting a business now means your venture
will be well-placed to take advantage of opportunities that will come
with economic recovery. Two or three years of solid financial will
make you a good bet for expansion or cash flow loans when you need
them. The management and operations will be running smoothly and you
will have had ample opportunity to plan and prepare for the growth
that should inevitably follow a downturn of this magnitude.
While starting a business in the current economy isn't likely to turn
you into a millionaire overnight, the advantages add up to an
incredible opportunity to secure your future.
Dr. Chudi Onyemeri is the Vice Chairman of RARE Coaching Company,
The world's leading Entrepreneurs Freedom Coaching firm.
Chudi is an experienced business coach and talk show host and
a popular professional interviewer. Chudi has taught 100% offline and
online around the country & around the world to more than 10,000
students.
Chudi has also worked as a coach and adviser to other famous
marketing consultants.
He has a successful audio publishing business. Chudi is originally
from Abia State and is now based in Lagos, Nigeria. Chudi works with
small to medium sized companies to create business systems.
He is the author of the book: "THE CASH-FLOW MENTALITY.
Chudi may be contacted at
coachchudi@gmail.com or at +2348030868300
Please let me know what I can do for you.
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