What most people see as the major problem of start-ups is capital and on many occasions I have emphasized that the problem is not capital but getting realizable ideas, having said that raising capital is by no means a small obstacle. There are few ways to raise capital for start-ups which I am willing to share the titbits with you.

After coming up with your realizable idea, the first thing is to draft/draw out a business plan; your sweet idea on paper, the expected expenses, infrastructures needed, capital required in stages, income expected in stages and your realistically expected success rate. This is what you present to experts for review and redress, and ultimately you have a copy you can negotiate with.

Financing Your Start-up business

  1. Savings

This is one option most people have planned towards but got lost along the line because they somehow misplaced their priorities. I am sure we are all too familiar with this “I will work for a while and save up do start my own business”, only for the person to get stuck behind the desk of 8-4/9-5. Saving for a particular project requires the best of disciplines and from my experience, the best way to save for a project is to open a project account with banks. This kind of account has the following features:

  • Drawing only on the agreed date
  • Tangible interest on savings
  • Standing orders to ensure you do not default from saving

  1. Corporate borrowings

For start-ups bank borrowing can be really difficult to secure, except you have some irresistible collaterals. However, some people are still able to secure loans from banks, and most common ways are:

  • PLAS: Personal Loan Against Salary is actually designed for the employed to finance their major projects, and if you are thinking of starting your own business while you are still employed then it also counts as project. To enjoy this, you have to have your salary account with the bank and most banks won’t allow you borrow more than 30% of your salary. If you earn N1.2million/year then you can have up to N400,000 a year and N1.2million in 3years.
  • Assets financing: Banks also assist with buying major business assets/equipment, you may/will be required to pay an upfront being part of the cost of the asset (between 25-30% contribution) while the bank provides the rest. The asset will be bought in your name and the bank’s name. The asset is your collateral in most cases and upon paying full installments, the ownership will be transferred to you as the sole owner of the asset. This has assisted many new start-ups to buy the expensive business equipment the need. The Nigeria Bank of Industry is into this and you can read up more on their requirements by visiting
  • Business loans: Most banks avoid giving start-ups loans because less than 5% of new business make it to the second stage of business cycle, this is due largely to unrealistic business plan. So if you have a solid, realistic within reasonable risk business plan you can secure loans from banks, especially when it is within the industry labelled as critical such as agriculture, manufacturing and tourism. You would be required to present collateral(s) and in some smaller banks (microfinance and community banks) belonging to a corporative group is all the collateral the need.
  • Lending through corporative society: Some banks lend to corporative societies and as such members of these societies have access to start-up funds, even in cases where banks don’t lend to corporative societies, the mechanism of the body is such that funds will be available to members at all time. The workings of corporative society requires that you contribute money periodically and in turn you have access to loans with minimum interest rate. This is a very viable means to raising capital for your start-up and it requires very little or no paper work.

  1. Contact list financing

This is one means of borrowing that I came up with, many clients have used it and it worked like magic. The major problem most people have with financing is that they want the money at once; a single payment from somewhere and this rarely happens. Contact list financing is simply sourcing the capital you need in bits from your list of contacts (friends and family). For instance, you want to start up a business of N200,000, most likely no one on your contact list can borrow/give you such an amount, however, if you split the money to say N10,000 each, you can have more than 20 people on your contact list who can make the money available either as a loan or a gift, that is how contact list financing works.

  1. Angels & investors

Remember the first step is to have a business plan that has been reviewed by experts, harmed with this you can approach Angels (people who give money to start-ups in exchange for share in the business) or investors (professional investors who give financial support to growing business in exchange for higher shares or future paybacks). In the Nigerian context, angel and investors are very rare however still very much available.

  1. Partnership

There are three main requirements of starting up a business; (a) Business Idea (b) Idea Financing and (c) Business management. Going into partnership for business should be to satisfy any of these three reasons, depending on which area you require assistance. If you have a realistic idea, you can source for people with the finance and become legal partners (have a memorandum of understanding and article of association).

I hope this has been helpful in directing your search for capital to finance your dream project. Feel free to contact me on for more information.

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Capital Is Not Your Problem

Capital is Not Your Problem

We are not limited by the things that surrounds us but by the things within us. – Selahsomeone

In my article, Be The Boss, in one of the comments a lady challenged me, asking if alongside the ideas, I will also provide capital for people? This question hit me because I am aware most people claim capital is what is stopping them but then I also realized that there ideas in that collections that require zero capital to start. Then I remembered the words of Jon Ochs, “Lack of money has never stopped anyone fully committed to a cause from achieving it.”


In other words, Capital has never stopped anyone from being successful but lack of feasible beautiful ideas and poor mindset has stopped many, don’t let that be your fate.


Read  more on  Why Capital is Not Your Problem.

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Starting Up A Make Up Artist Business

Make Up Artist


Minimum Capital Requirement: N20,000

Summary: Being a makeup artist offers you a unique opportunity to try out your colour combination skills and creativity while getting paid for it. With an investment of between N20,000 and N200,000, you can rake in a minimum N25,000 on weekly basis.



Fashion and style would always be in vogue as long as people continue to invent and reinvent. Makeup Artistry is currently the trend amongst ladies and men alike, with extensions such as Gele tying, lashes fixing, facials, massage, detox, nails etc., in this business, if you are ready to work then you are in for some cool cash.

In this article, some key areas will be touched, so even if you are already in this business, this article can help redirect your focus and ensure you maximize your revenue.

Required Resources

  • Assets

Makeup kits (professional kits)

Digital camera or a device (phone or tab) with very high megapixel

Access to mobility

  • Personnel

Yourself and an assistant (optional)

  • Capital

N20,000 to N200,000

Required Skills

  • Understanding of colour combinations and implications (sleek, daring, smoky, nude, sparkle, innocent etc.)
  • Creativity
  • Hardworking and good time management skills

Intersted? Download fill article here make-up-artist

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Simple Hustles for Students

Simple Hustles for Students

Hustling, as defined by urban dictionary, is making money out of everything. Hustle is going against odds to achieve success; hardwork, persistence and creativity. Hustling often requires using ones skills, potential and energy to earn money. As students there are many ways you can hustle and make something for yourself, and maybe develop it into something much more. Find some of the simple hustles below:


  1. Talent Sale

You can sell your talent for good money. This is the most common I have seen with students who are really hustling to see their way through school. Some of the talents I have seen on sale includes:

  • Singing at clubs: Met a lady who does this and she said she makes between N5000 to N10,000 per gig.
  • Playing instruments at clubs and churches (most modern churches now pay their instrumentalist)
  • Making hair for other students at a fee
  • Making ready to wear clothes and sell or designing and selling
  • Dancing in musical videos and clubs etc.
  1. Online paid jobs

There are so many paid online jobs these days. Though this is not common in Nigeria, hence it often requires that you open an online account with PayPal, to collect your dues but it is worth it, so long as you can get the authentic ones (fakes abound). Some of the online paid jobs include:

  • Completing online surveys: These companies often require you complete a survey for them within 10mins and you can make between $3 and $5.
  • Product testing and feedback: Some send products to you to use then you give feedback and you still get paid.
  • Sending emails: Some companies hire people online to help them send bulk emails.
  • Online customer care jobs, responding to customers’ enquiries, requests and complaints.
  • Online networking such as generating referrals and sharing links on your social media wall for money. Payments often per clicks and people make up to $300/month.
  1. Recycling/refurbishing business

Recycling can make you good money, if you know how to go about it. I have encountered many students in Unilag, into this and they are really doing fine. Some of the things they venture into include:

  • Handsets and laptops refurbishing: they buy old/spoilt handsets at a very small price, then they repair and change the casing, then finally they sell at good money.
  • Handout/lecture notes recycle: Complete lecture note/manual are photocopied and sold at profitable prices.
  • Compilation of past questions and answers
  • Other items: other items that could be refurbished and sold include electronics, automobiles, etc.


  1. Safe Betting

If you are good with sports and excellent at predicting, this is another way to make extra-cash. However, care should be taking especially knowing when to stop, when to put more and when to just sit and watch. There are so many betting sites now such as Betnaija, Nairabet, Naijabet, Games, Bet etc.

  1. Online Speculation business

This is similar to gambling but with a very comfortable odds. You buy sites or open sites with the hope of reselling it at a much higher price. People make money in $million doing this business. As a student, you will have ample to time to relate with others and find out what would likely be in demand within the shortest possible time. Read more Online Speculation Business

  1. Online Trading business

Money market trading online is good money when you mingle with the right players and learn major facts about the business. A friend of mine who claims he is still learning doubled $1000 in less than 6weeks; convert that to Naira, you will realize it is a lot within that short time. It is even easier with new apps that you can use to monitor your online trading both on laptops or mobile phones.

  1. Part time business/job

There are so many part time jobs that you could take up as a student, depending on your prowess. However, here are couple of part time jobs you can try out:

  • Running a home lesson after your classes
  • Running tutorial classes for your course mates and those in lower classes
  • Teaching talents such as instrument playing, hairdressing and styling, fashion designing, dancing steps etc.
  • Setting up businesses you can run after school hours and weekends such as dry-cleaning services, modeling, ushering services, movie editing and subtitling, animal farming etc.
  1. Social media entrepreneur

As a social media entrepreneur, your focus is on two main things (1) Owning a platform with so many followers (2) Marketing on that platform for money. Be it instagram, Facebook, twitter, Snapchat, blogging or website the focus is the same. The trending topic includes:

  • Sex appeal
  • Fun and jokes
  • Fashion
  • Online money making schemes
  • Modelling etc.

You can read more Social media marketing and Social media manager


  1. Freelance work

Freelance work means you are self-employed but you sell your service to different companies or agencies. Freelance paying works include:

  • Freelance writing: you can read more here
  • Setting up websites for people
  • Modelling for advert agencies and companies
  • Body advertising (mascot)
  • Graphic designing etc.
  • TV extras; for games, competitions and movies
  1. Organizing events and tours

In school, social life is very important and often money spinning, especially to the organizers. You can make money from this too. You can organize events such as:

  • Parties
  • Excursions
  • Trade fairs
  • Balls and dance
  • Shows and movies premiers etc.

You can read more about starting up a tour business

Downloadable version Here simple-hustles-for-students

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Dog Breeding Business

Dog Breeding Business

Minimum Capital Requirement: N150,000

Summary: If your favorite pet is Dog, this offers you a rare privilege to have fun with your favorite pet and yet make enough money to live the life have always wanted.

Introduction: Running a dog breeding business isn’t easy. Starting this type of business requires a significant investment of time, effort as well as money; for dogs, licensing and veterinarian care. The business has an already made market and money back guaranteed, depending on how rare the breeds you have are and the class of your target market. Of course “Bingo” will probably make you nothing but peanuts however breeds like Labrador retriever, German shepherd, Bulldog, Golden Retriever, Yorkshire terrier would make you Millionaire within limited time. dogbreeding

Required Resources

  • Assets

A dog breeding facility

Breeding licensing and insurance

Training and walking

  • Personnel

As required

  • Capital

N150,000 – Startup cost – Money for at least two puppies (Male and Female). Amount required depends on the breed.

Required Skills

  • You have to love dogs and understand them
  • You have to be very observant
  • Willingness to learn and socialize with other dog breeders (online)

Interested? download full article starting a dog breeding business

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Internet Speculation Business

Internet Speculation Business


Internet speculation business is a relatively new business that came with the introduction of internet, domain names, media accounts and profiles. This business can easily make you an overnight millionaire depending on how good, fast and predictive you are. Some have described it as gambling but the success rate of ISB is quite high and the longer you have been in the business, the higher your success rate. Mike Mann, one of the success story in this business, was once reported to have bought 14,962 domain names in 24hours just to increase his chances of getting the dream payday. Currently he earns over $400,000/month just doing internet speculation business through his company


Now I am sure your question is, “what does this business entail?”. For easy understanding, I will divide the business into three; Domain speculation, Account speculation and Profile sales.

Interested? Download full article and read internet-speculation-business

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10 Ways to Beat Competition: Way 10 – Using Advertisement

10 Ways to Beat Competition: Way 10 – Using Advertisement


There is this saying that “a business owner that fails to advertise his business product(s) will eventually advertise the same business for sale as a product of his failure”.

According to Business Dictionary, “advertisement is a paid, non-personal, public communication about causes, good and services, ideas, organizations, people, and places, through means such as direct mail, telephone, print, radio, television and internet. Advertising is an integral part of marketing, advertisements are public notices designed to inform and motivate (towards a predetermined end). Their objective is to change the thinking pattern (or buying behavior) of the recipient (of the information), so that he or she is persuaded to take the action desired by the advertiser. ”


Advertisement touches on everything we have earlier discussed on beating competition; price differentiation/discrimination, media presence, product variety, sales support, promotions, incentives, branding etc. Advertising harnesses all these other ways and information then feed them to the people (potential customers) to influence their buying behavior. That is why advertising involves a lot planning and decision making; the business has to consider its cost effect on profit, its effect on the sales/revenue generation, the other goals of the business, most effective medium/media to use, the duration, how the impact is intended to be measured and the control measures in place to ensure the goals are achieved.

Advertising is a seal on beating competition. To stay ahead in business, you must create awareness, the more people know of what you offer, the more the patronage you will get. Having said that, it is also believed that advertising an homogeneous product or service is a waste of money and an unnecessary cost on gross profit, however if you go through all our earlier discussions, you would understand that your product is not an homogeneous product because you must have created your brand with your ‘USP’, which sets your product apart from others and make your product(s) ‘advertise-able’.

We can comfortably categorize advertising platforms/media into two; traditional advertising and modern advertising.

  • Traditional Advertising Medium: prior to the commercial launch of World Wide Web (www) in the early 90’s, the most efficient form of advertising was the mass media majorly the televisions and radios. Some TV commercials are just unforgettable in Nigeria like; Joy girl, Planta margarine, Greensandy, Trophy beer before the epic movies etc. These were emotional adverts that just get you going for those products. Other forms of traditional advertising medium includes the print (newspapers, magazines, flyers, catalogues) and the billboards. Many customers still respond to this traditional means however, the response rate can rarely be measured in real-time.

  • Modern Advertising Medium: Until the early 2000, the use of internet were still being learned, the first focus was the knowledge sharing possibilities, then came the communication aspect and games, however after the early 2000 the attention shifted to sales and marketing. Modern advertising medium centers round the use of internet; social media, general emails, direct messages, pop adverts that could be easily analyzed and the impact measured using Search Engine Optimization apps and activity analyzers. Now before watching your favorite clip on YouTube, you are most likely going to watch an advert, you click your link of interest but it takes you to an online shop first, the Instagram, the Facebook, the Twitter all now focused more on advertising using trends and location as against socialization and reunions. Modern advertising medium puts information about your product at the fingertips of your would be customers.


Depending on your class of target audience, care must be taken while choosing a means of advertising. While it is also advisable to mix the medium for the best results, feedbacks would be key in analyzing the impact because gone are the days of just putting out adverts for showboating sake. If the ultimate aim is to beat competition and stay in business profitably then your products must be advertised using the most frequent medium by your potential customers. You must advertise.

A typical effect of advertising on beating competition can be seen in this scenario, in banking in Nigeria, most people believe that modern banking (mobile, internet and other convenient cashless banking practices) were first introduced by GTbank but the reality is, they were first introduced by FirstBank (Firstmobile, Firstcredit ‘credit card in conjunction with Glomobile’, Deposit receiving ATMs etc) but they failed to advertise these products, maybe because they felt Nigerians were not ready for them yet. However, these were the same products GTbank explored, owned and advertised that made them household name we know today. Such is the power of advertisement.

Competing in business market requires focus on your organizational goals, first and foremost, then keeping abreast with what competitions are doing; new tricks, new mechanisms and change in policies. Also, your business has to be proactive as against being reactionary, to dictate the market trend, your business has to be first, setting the pace but not losing sight of how others are reacting.

Thank you for reading this article, kindly watchout for my comprehensive book on ways to beat competition.





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