Services not Retail trading is key to surviving the harsh economy, Entrepreneurs' watch!

All hail Alphasoars . . .

How has the soaring gone, I feel steady progress. I have been hearing that some of our Excellencies have gone for a London based sightseeing or rather inquiry based visit to the Abuja house in London.

Good-luck to Nigerians. I don't really know what our country has turned into. Which one do we believe, our president is healthy and at same time receiving treatment or our president is hale and hearty but he cannot speak to his countrymen on a televised live video call. I am not a politician for now and I don’t speak for or against any Nigerian party.

The only thing I have to say is that anywhere he is, if sick I wish him quick recovery, if hale and hearty, let the Airplane that took him there bring him back safe. Udo!!!

Economy is bad, has been the lyrics from the most populous song we have been singing for the past 24 months. The economy really has had its toll on all. It is like the adage about war, in that it is ill wind that blows no one good. Businesses have closed and institutions that cannot bear the heat have parked up.

For every, problem in life I so much believe that there is a fruitful solution to it. It is just a matter of Knowing (Knowledge) and approach (Application).

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We have had calls by agencies and pleas from the government for entrepreneurs to take over the economy as that will boost the economy and grow the country's GDP. That is however a fact that cannot be disputed. Entrepreneurship bothers on so many things and becoming one has got a lot of things to consider. As you consider yourself an owner of a business enterprise that either deals with goods merchandise or sell of services, you are already seeing yourself as an entrepreneur.

However, I have the following thoughts and contribution.

Entrepreneurship based on merchandising i.e., goods retailing always collapse with this type of economy. They fade due to the fact the profit from such investment are hardly sufficient to cater for the daily running of the enterprise. The generator has to be fueled, the shop rent has to be paid, the levies have to be paid and the sole proprietor has got some personal things to take care of.

Making little cents and Kobos can help one live but cannot sustain for a very long time.

I think rendering services is the better way to stand all smiles in a recessing economy. Services do not require much capital in the first place, they require knowledge and diligence. Rendering services such as haircuts, car repairs, phone services, online marketing etc offers you the chance to do what you like with your hands or head and gets rewarded handsomely.

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A former boss of mine makes roughly N100K after expenses. He has ICT based institution that renders all kinds of ICT related services and he has four employees under his payroll. Another of my boss makes nothing less than N230K a month as an ICT service person. He manages his institution and has two people under him.

In an economy as this where no physical buying and selling is involves, he makes his money constantly and ceases to when he decides not to go to his work place.

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People will always need service but will not always need your goods.

Like other professions, finding what you love doing is the key. When you have got the key in your hands, nothing more than to seek for training. Those in the east know more about training as regards trade. They can forgo schooling of four years and seek training on trading for complete seven years and at the end, you find them good at what they do.

Most people prefer to go into merchandise immediately it seems they have gotten some money because they are not willing to endure stress of six months and develop themselves to render effective service to the general public.

They don’t want to be under a boss at all but want to be a boss at the instant. It is good but very risky because what you find yourself doing is different from what you learnt doing.

You don't agree with me? Then share your thoughts with me.

Happy soaring!!!