Groupie

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  The first time I heard this word was when Drake called someone a groupie in one of his songs, I did not check for the meaning until an influencer talked about it recently The google definitions are too extreme and derogatory but in the context of what I'm talking about a groupie can be someone who always wants to be with the "happening guys". After pondering about it for a couple of days I realized we might be and this mentee, mentor, networking, your association rave in Nigeria might have turned most of us to “groupies” in a way. The need to follow the latest popping person, enter their dms and introduce yourself, ask them to mentor you or to just be able to say I know them, bla bla bla   is turning some of us into something else I don’t have much to say but I pray we remember that as we appreciate the light in others, their talents and gifts, we'll never  lose sight of the light, talents and gifts we carry too. Appreciate them but focus on making your light ...
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How to evaluate your new business idea



."Entrepreneur" is the word of the decade and while some are making progress others are failing woefully like the old me. My friend and I are always talking about one business idea or the other. After calculating our expected profits, we get so excited and forget to ask important questions and then we start and fail again. I usually thought we were just not committed enough until a recent failure that put my brain to work. These are a list of questions you should ask to know if  that business idea is worth pursuing. Do this before you even calculate your expected profits.

1.What problem is my product or service going to solve or what value is my product/service adding to the customer?

2. What makes my product/service  different from my competitors?
This is usually your selling point.

3..What are the possible problems I am going to face?
Problems differ from acquiring start up capital to source of inputs for your  products, delivery of products, acquisition of a reliable worker. Find a way to solve each problem that is particular to your industry.

4. What are my strengths and weaknesses?
Do a SWOT (strengths,weaknesses,opportunities,threats) analysis for yourself(the entrepreneur) and your product or service.

5.Who is your target market?
Define your target market and get enough information about the people you are planning to serve. Learn about their age range, financial status, location etc. This information influences how your customers think, and helps you know how to serve them.

Tip:
Ask your friends or some of your target customers, what they think about your product/service. Remember the purpose of your business is to serve the customers. Get  feedback and review your business plan.

Leave a comment about your thoughts on this article.
Thanks for reading.Stay blessed and have a wonderful day

Comments

iBuild said…
Great tips indeed for a successful business.
June 10, 2020 at 7:46 AM
Unknown said…
Good tips. Kudos
June 10, 2020 at 1:04 PM
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