ENTREPRENEURSHIP 101 || FIVE LESSONS LEARNT FROM RUNNING A BUSINESS

I had to do this post immediately, i have been so overwhelmed that if i procrastinate for a minute i won't do it anymore. So I have been an entrepreneur all my life, as early as secondary school, i was buying and selling accessories to boarding school girls, in university i would sell my clothes that i bought on sale at the original price it was before sale, to my many days selling wristwatches, vintage clothes, custom made clothes, sunglasses and now planners. And to tell you the truth, I'm still learning. I'm running a one woman business with an occasional support from my mum and brother and even though its preparing me for the days ahead, its super super difficult and hectic. Everyday is a lesson down this path. Today i'm going to be sharing with you the five lessons you need to remember as an entrepreneur, chances are if you are like me, you will make these mistakes a thousand times but you need to build a business that would last so please bear this in mind and keep it in your left palm.

• Protect your work: The Nigerian industries generally have no regard for people's work and don't understand copyright or intellectual property, presently in my business, I'm dealing with a client who is politely trying to turn my design which she didn't pay anything for apart from money for production, into her own work, because she told me what she wanted. Also I have seen a few indirect competitors get inspired (which is okay) by my product's aesthetic. If you are in a line of business where your product can get easily copied, protect your business and learn about the laws that protect your work or better still get a lawyer friend, Hi, Mide Coker!

• Don't share your trade secret: Whether you are buying or selling, or printing or baking or whatever you are doing, be careful about your trade secret, the reason coca cola is still coca cola is that pepsi still hasn't gotten the trade secret.

• Put a price on your self-services: I design my planners, so when creating custom planners, I tend to charge the same thing I sell my planners for, and until recently, when i got frustrated about not making good enough profit, did i realise that i wasn't charging my clients for my services as a designer, so i wan't creating a budget that can pay for my data for research, a new laptop in the future or refreshments while i'm working on design, I was charging for production alone. I f you don't put a price on services you render out of passion, you will end up frustrated and cranky.

• Word of Mouth is the best marketing and advertising: I sold about 50/70 2016 Heartdictions planners throughout last year I think, i actually don't have records for this, This year however I have gone to sell 100/120 planners in the space of one month and its all been because someone reposted, gushed about it, loved it, got gifted it, wanted another one, did a task on it or made a video. The best marketing tool for every business is W.O.M, so be as kind as you can to your customers but most importantly, sell products that are unique and of very good quality and keep improving. Also always ask yourself what makes you different from others and what your added advantage is.

• Don't be afraid to check your customers but make sure you are going out of your way to satisfy them as well: Not to contradict my last point, but some customers can be very difficult, threatening and disrespecting the person on the other side of the phone, like they are your only order, Don't be afraid to check them and correct their approach as long as you are offering them the very best services you possibly can.

You are going to learn so much more lessons along the way and so would I, so I hope to keep sharing them with you and hope that in return, you will do the same in the comment box.

have a great day ahead and let me know if you have question you need me to answer.