I am prompted to write this post because of the large volume of mail
I receive each day that is centered on the above subject.
You see, it all generation, just a few people are given the secret to life, relationship, wealth creation, success and all of that.
This is exactly why only a few people are mentioned as pioneers in generations of
Christians. So it is today in the whole world.
As we start off early in life, we drift until we get to perfection. But one fundamental
fact is that where and how you start matters a lot. Your orientation, value and
evaluations of things of life including what Riches, nay Wealth is becomes important.
In the whole world, most people are sold the negative idea that anyone who is
rich would have cheated someone else or that to be rich you have to be dubious. And so poor mentally-oriented people would look at money or wealth as evil and would not pursue wealth. And remain poor through their lives.
It pains to see that great minds, brains are all now in the cemetery, without achieving anything.
In order to create wealth, you must understand that you as a being created by the supreme being God, is created with every uniqueness.
The whole world is ruled by passwords and your ability to crack this password is what will make millions for you. And while others sell the secret they have cracked, some give it out for free to remain where they are.
Another factor that make people remain poor until death is not asking why
they are on this planet earth. No knowing the purpose of their being is the fundamental problem. A life without purpose is an empty life.
The last factor I will cover here is the law of attraction. You attract what you think. People who think that money is hard to get will never make money. If you think money comes easily, you make money easily.
Money is a concept. Its an Idea and it does not respect anyone. even if you are blind, black, white, tall or short, it can come your way once you know the secret password to money.
One Solution today: Pick a pen, write down how much you want to make this month. Think of it each morning you wake up, paste that paper which you will assume to be your pay cheque near your bed, your dinning and inside your bag.
Visualize yourself living the lifestyle your already know rich people live. having a good home, nice cars, being on best vacation, wonderful spouse and children.
You will discover that in no time you will be there. You do not need to steal but to crack valuable solutions to problems in the society to make money and smile to the bank all the time...
Good Luck and your comment
Friday, February 5, 2010
SELF IMPROVEMENT AND SUCCESS
Everything that happens to us happens in purpose. And sometimes, one thing leads to another. Instead of locking yourself up in your cage of fears and crying over past heartaches, embarrassment and failures, treat them as your teachers and they will become your tools in both self improvement and success.
I remember watching Patch Adams – its my favorite movie, actually. Its one great film that will help you improve yourself. Hunter “patch” Adams is a medical student who failed to make it through the board exams. After months of suffering in melancholy, depression and suicidal attempts – he decided to seek for medical attention and voluntarily admitted himself in a psychiatric ward. His months of stay in the hospital led him to meeting different kinds of people. Sick people in that matter. He met a catatonic, a mentally retarded, a schizophrenic and so on. Patch found ways of treating his own ailment and finally realized he has to get back on track. He woke up one morning realizing that after all the failure and pains he has gone through, he still want to become the a doctor. He carries with himself a positive attitude that brought him self improvement and success. He didn’t only improved himself, but also the life of the people around him and the quality of life. Did he succeed? Needless to say, he became the best damn doctor his country has ever known.
So, when does self improvement become synonymous with success? Where do we start? Take these tips, friends…
*Stop thinking and feeling as if you’re a failure, because you’re not. How can others accept you if YOU can’t accept YOU?
*When you see hunks and models on TV, think more on self improvement, not self pitying. Self acceptance is not just about having nice slender legs, or great abs. Concentrate on inner beauty.
*When people feel so down and low about themselves, help them move up. Don’t go down with them. They’ll pull you down further and both of you will end up feeling inferior.
*The world is a large room for lessons, not mistakes. Don’t feel stupid and doomed forever just because you failed on a science quiz. There’s always a next time. Make rooms for self improvement.
*Take things one at a time. You don’t expect black sheep’s to be goody-two-shoes in just a snap of a finger. Self improvement is a one day at a time process.
*Self improvement results to inner stability, personality development and dig this …. SUCCESS. It comes from self confidence, self appreciation and self esteem.
* Set meaningful and achievable goals. Self improvement doesn’t turn you to be the exact replica of Cameron Diaz or Ralph Fiennes. It hopes and aims to result to an improved and better YOU.
*Little things mean BIG to other people. Sometimes, we don’t realize that the little things that we do like a pat on the back, saying “hi” or “hello”, greeting someone “good day” or telling Mr. Smith something like “hey, I love your tie!” are simple things that mean so much to other people. When we’re being appreciative about beautiful things around us and other people, we also become beautiful to them.
*When you’re willing to accept change and go through the process of self improvement, it doesn’t mean that everyone else is. The world is a place where people of different values and attitude hang out. Sometimes, even if you think you and your best friend always like to do the same thing together at the same time, she would most likely decline an invitation for self improvement.
We should always remember that there’s no such thing as ‘over night success’. Its always a wonderful feeling to hold on to the things that you already have now, realizing that those are just one of the things you once wished for. A very nice quote says that “When the student is ready, the teacher will appear.” We are all here to learn our lessons. Our parents, school teachers, friends, colleagues, officemates, neighbors… they are our teachers. When we open our doors for self improvement, we increase our chances to head to the road of success.
I remember watching Patch Adams – its my favorite movie, actually. Its one great film that will help you improve yourself. Hunter “patch” Adams is a medical student who failed to make it through the board exams. After months of suffering in melancholy, depression and suicidal attempts – he decided to seek for medical attention and voluntarily admitted himself in a psychiatric ward. His months of stay in the hospital led him to meeting different kinds of people. Sick people in that matter. He met a catatonic, a mentally retarded, a schizophrenic and so on. Patch found ways of treating his own ailment and finally realized he has to get back on track. He woke up one morning realizing that after all the failure and pains he has gone through, he still want to become the a doctor. He carries with himself a positive attitude that brought him self improvement and success. He didn’t only improved himself, but also the life of the people around him and the quality of life. Did he succeed? Needless to say, he became the best damn doctor his country has ever known.
So, when does self improvement become synonymous with success? Where do we start? Take these tips, friends…
*Stop thinking and feeling as if you’re a failure, because you’re not. How can others accept you if YOU can’t accept YOU?
*When you see hunks and models on TV, think more on self improvement, not self pitying. Self acceptance is not just about having nice slender legs, or great abs. Concentrate on inner beauty.
*When people feel so down and low about themselves, help them move up. Don’t go down with them. They’ll pull you down further and both of you will end up feeling inferior.
*The world is a large room for lessons, not mistakes. Don’t feel stupid and doomed forever just because you failed on a science quiz. There’s always a next time. Make rooms for self improvement.
*Take things one at a time. You don’t expect black sheep’s to be goody-two-shoes in just a snap of a finger. Self improvement is a one day at a time process.
*Self improvement results to inner stability, personality development and dig this …. SUCCESS. It comes from self confidence, self appreciation and self esteem.
* Set meaningful and achievable goals. Self improvement doesn’t turn you to be the exact replica of Cameron Diaz or Ralph Fiennes. It hopes and aims to result to an improved and better YOU.
*Little things mean BIG to other people. Sometimes, we don’t realize that the little things that we do like a pat on the back, saying “hi” or “hello”, greeting someone “good day” or telling Mr. Smith something like “hey, I love your tie!” are simple things that mean so much to other people. When we’re being appreciative about beautiful things around us and other people, we also become beautiful to them.
*When you’re willing to accept change and go through the process of self improvement, it doesn’t mean that everyone else is. The world is a place where people of different values and attitude hang out. Sometimes, even if you think you and your best friend always like to do the same thing together at the same time, she would most likely decline an invitation for self improvement.
We should always remember that there’s no such thing as ‘over night success’. Its always a wonderful feeling to hold on to the things that you already have now, realizing that those are just one of the things you once wished for. A very nice quote says that “When the student is ready, the teacher will appear.” We are all here to learn our lessons. Our parents, school teachers, friends, colleagues, officemates, neighbors… they are our teachers. When we open our doors for self improvement, we increase our chances to head to the road of success.
10 WAY TO GET RICH
No. 1: Reinvest Your Profits
When you first make money, you may be tempted to spend it. Don't. Instead, reinvest the profits. Buffett learned this early on. In high school, he and a pal bought a pinball machine to put in a barbershop. With the money they earned, they bought more machines until they had eight in different shops. When the friends sold the venture, Buffett used the proceeds to buy stocks and to start another small business.
No. 2: Be Willing to Be Different
Don't base your decisions upon what everyone is saying or doing. When Buffett began managing money in 1956 with $100,000 cobbled together from a handful of investors, he was dubbed an oddball. He worked in Omaha, not on Wall Street, and he refused to tell his partners where he was putting their money. People predicted that he'd fail, but when he closed his partnership 14 years later, it was worth more than $100 million.
No. 3: Never Suck Your Thumb
Gather in advance any information you need to make a decision, and ask a friend or relative to make sure that you stick to a deadline. Buffett prides himself on swiftly making up his mind and acting on it. He calls any unnecessary sitting and thinking "thumb-sucking."
No. 4: Spell Out the Deal Before You Start
Your bargaining leverage is always greatest before you begin a job -- that's when you have something to offer that the other party wants. Buffett learned this lesson the hard way as a kid, when his grandfather Ernest hired him and a friend to dig out the family grocery store after a blizzard. The boys spent five hours shoveling until they could barely straighten their frozen hands. Afterward, his grandfather gave the pair less than 90 cents to split.
No. 5: Watch Small Expenses
Buffett invests in businesses run by managers who obsess over the tiniest costs. He once acquired a company whose owner counted the sheets in rolls of 500-sheet toilet paper to see if he was being cheated (he was). He also admired a friend who painted only the side of his office building that faced the road.
No. 6: Limit What You Borrow
Buffett has never borrowed a significant amount -- not to invest, not for a mortgage. He has gotten many heartrending letters from people who thought their borrowing was manageable but became overwhelmed by debt. His advice: Negotiate with creditors to pay what you can. Then, when you're debt-free, work on saving some money that you can use to invest.
No. 7: Be Persistent
With tenacity and ingenuity, you can win against a more established competitor. Buffett acquired the Nebraska Furniture Mart in 1983 because he liked the way its founder, Rose Blumkin, did business. A Russian immigrant, she built the mart from a pawnshop into the largest furniture store in North America. Her strategy was to undersell the big shots, and she was a merciless negotiator.
No. 8: Know When to Quit
Once, when Buffett was a teen, he went to the racetrack. He bet on a race and lost. To recoup his funds, he bet on another race. He lost again, leaving him with close to nothing. He felt sick -- he had squandered nearly a week's earnings. Buffett never repeated that mistake.
No. 9: Assess the Risks
In 1995, the employer of Buffett's son, Howie, was accused by the FBI of price-fixing. Buffett advised Howie to imagine the worst- and best-case scenarios if he stayed with the company. His son quickly realized that the risks of staying far outweighed any potential gains, and he quit the next day.
No. 10: Know What Success Really Means
Despite his wealth, Buffett does not measure success by dollars. In 2006, he pledged to give away almost his entire fortune to charities, primarily the Bill and Melinda Gates Foundation. He's adamant about not funding monuments to himself—no Warren Buffett buildings or halls. "When you get to my age, you'll measure your success in life by how many of the people you want to have love you actually do love you. That's the ultimate test of how you've lived your life."
When you first make money, you may be tempted to spend it. Don't. Instead, reinvest the profits. Buffett learned this early on. In high school, he and a pal bought a pinball machine to put in a barbershop. With the money they earned, they bought more machines until they had eight in different shops. When the friends sold the venture, Buffett used the proceeds to buy stocks and to start another small business.
No. 2: Be Willing to Be Different
Don't base your decisions upon what everyone is saying or doing. When Buffett began managing money in 1956 with $100,000 cobbled together from a handful of investors, he was dubbed an oddball. He worked in Omaha, not on Wall Street, and he refused to tell his partners where he was putting their money. People predicted that he'd fail, but when he closed his partnership 14 years later, it was worth more than $100 million.
No. 3: Never Suck Your Thumb
Gather in advance any information you need to make a decision, and ask a friend or relative to make sure that you stick to a deadline. Buffett prides himself on swiftly making up his mind and acting on it. He calls any unnecessary sitting and thinking "thumb-sucking."
No. 4: Spell Out the Deal Before You Start
Your bargaining leverage is always greatest before you begin a job -- that's when you have something to offer that the other party wants. Buffett learned this lesson the hard way as a kid, when his grandfather Ernest hired him and a friend to dig out the family grocery store after a blizzard. The boys spent five hours shoveling until they could barely straighten their frozen hands. Afterward, his grandfather gave the pair less than 90 cents to split.
No. 5: Watch Small Expenses
Buffett invests in businesses run by managers who obsess over the tiniest costs. He once acquired a company whose owner counted the sheets in rolls of 500-sheet toilet paper to see if he was being cheated (he was). He also admired a friend who painted only the side of his office building that faced the road.
No. 6: Limit What You Borrow
Buffett has never borrowed a significant amount -- not to invest, not for a mortgage. He has gotten many heartrending letters from people who thought their borrowing was manageable but became overwhelmed by debt. His advice: Negotiate with creditors to pay what you can. Then, when you're debt-free, work on saving some money that you can use to invest.
No. 7: Be Persistent
With tenacity and ingenuity, you can win against a more established competitor. Buffett acquired the Nebraska Furniture Mart in 1983 because he liked the way its founder, Rose Blumkin, did business. A Russian immigrant, she built the mart from a pawnshop into the largest furniture store in North America. Her strategy was to undersell the big shots, and she was a merciless negotiator.
No. 8: Know When to Quit
Once, when Buffett was a teen, he went to the racetrack. He bet on a race and lost. To recoup his funds, he bet on another race. He lost again, leaving him with close to nothing. He felt sick -- he had squandered nearly a week's earnings. Buffett never repeated that mistake.
No. 9: Assess the Risks
In 1995, the employer of Buffett's son, Howie, was accused by the FBI of price-fixing. Buffett advised Howie to imagine the worst- and best-case scenarios if he stayed with the company. His son quickly realized that the risks of staying far outweighed any potential gains, and he quit the next day.
No. 10: Know What Success Really Means
Despite his wealth, Buffett does not measure success by dollars. In 2006, he pledged to give away almost his entire fortune to charities, primarily the Bill and Melinda Gates Foundation. He's adamant about not funding monuments to himself—no Warren Buffett buildings or halls. "When you get to my age, you'll measure your success in life by how many of the people you want to have love you actually do love you. That's the ultimate test of how you've lived your life."
FISH FARMING FREE GUIDE
This post was written for you all who want to go into fish farming. I noticed a lot of people want to go into fish farming but don’t really know what it takes to start the business.
Have you always thought about starting your own fish farm but you are not so sure about how it works, what to do and how to start. Here is a guide to help you start your own fish farming business.
Things You Need To Start Your Fish Farming Business.
1. KNOWLEDGE
Knowledge is key in fish farming and without which you may end up loosing your money at the end of the day.
You need to know the following:
a. How to hatch if you are interested in hatching yourself.
b. Raising from fries to fingerlings or grow out
c. Managements practices
d. Culture Systems
e. Feeding e.t.c
2. CAPITAL
You need capital for the following:
a. Purchase of Land
b. Construction of Concrete Tanks, Earthen Ponds or Vats
c. Farm Materials e.g PH Meter, Nets e.t.c
d. Feed e.t.c
You can either start big or small. Staring big means you want buy a land, construct large concrete tanks and then go into grow-out production. Starting small means you want to use the available space in you compound, construct vats or small concrete tanks and then go into fingerlings production. Starting big or small depends on your present capital.
Your Knowledge of fish farming and Capital works together. If you have the capital without the knowledge, your capital may not be too useful. If also have the knowledge without the capital, then your knowledge may not also be too useful so the too factors work hand in hand.
CULTURE SYSTEMS
Fish can be raised in CONCRETE TANKS, EARTHEN PONDS, VATS, PVC E.T.C All these culture systems have their own management practices and its very important to note that your choice of production ( fingerlings production or grow-out production) will determine the type culture system to use.
HOW CAN I START MAKING MONEY.
You can start by buying fries, raising them to fingerlings or posts fingerlings and then sell.
You can hatch them yourself, raise them and sell at fries, fingerlings or post fingerlings.
As an experienced farmer, I prefer to hatch myself, raise and sell at whatever size I intend to sell them. Briefly, note that it is more expensive to buy, raise and resell while it is very cheap to hatch yourself, raise and then sell.
Fish farming is a very lucrative business. Fish is consumed daily and its demand is yet to be met so you can also be one of those making fish available while you make your money. People consume fish everyday, so the market is always available for you.
Have you always thought about starting your own fish farm but you are not so sure about how it works, what to do and how to start. Here is a guide to help u start your own fish farming business.
Fish farming involves raising of fish commercially in tanks or enclosures commercially for food. Fish farming is a form of aquaculture and the essence is to increase the number of fish available in the society because the increased demand of fish has led over fishing in the wild.
HOW TO GET STARTED IN FISH FARMING
STEP BY STEP
STEP 1.
You need A LAND. After aquiring the land, then you need to decide which culture system you want to use.
Types of culture system:
Pond.
Concrete tanks.
Vats.
Cage.
Pen.
If you will use a pond, the land should not just be any land. The soil on that land should be clayey, or most importantly, it should be such that can hold water. On this land, you will either have A POND, OR A CONCRETE TANK. If you want to go into Grow-out production, you can use both the concrete tanks and the earthen pond. But if you want to go into fingerling production, you will have to use the concrete tanks. You may want to ask if you can’t use the earthen ponds for fingerling production. Yes you can, but for proper management reasons, you cant. You will get to understand the management reasons as we go along. So, your earthen pond should be constructed by experts who can do the job properly. In selecting your pond site, avoid areas that are usually flooded and ensure the area is such that you can drain your water easily. Your pond should be constructed in an area where there is availability of water because NO WATER, NO BUSINESS AND INCONSISTENT WATER SUPPLY = FRUSTRATION IN BUSINESS. So, water is one major factor to consider when choosing your site location. In constructing your site, get an expert and not just any body who can just dig the ground for you
These experts should be familiar with the following:
The land has to be properly cleared of its weeds and hard roots.
After excavating, the dike with a gentle slope should be built in such a way that the water will not seep into the soil.
The inlets and outlet should be built.
The pond dike should be protected.
The pond should be fertilized before filling it with water.
The pond should be left for about a week before stocking with fish so that the water condition will be in it normal state and natural food production will have evolved for the fish to feed on.
STEP 2.
When your pond is set, purchase your juvenile or jumbo sized fish and then stock. Ensure you cover your pond with net to prevent predators from coming in to eat up your fish and for those that can not eat up your fish, they will compete with your fish for food and this means your fish will not grow as they aught to because their food is been limited.
Get someone to construct your concrete tanks for you. For proper management, it should not be too big. And after constructing your concrete tanks, you will have to wash off cements. In doing this, you will have to spread farm yard manure into your tank for at least 3 days, the manure will decompose and reduce the effect of the cement. Clean and wash out the pond with water, then stock. Or you could just fill the tank with water and leave it for 1 week, flush the water out after one week, wash and fill with water again for another one week, flush and then stock your fish with a fresh water.
FEEDING.
As a fish farmer, especially for someone who is just going into the business, you need to understand that close to 50% of your investment goes in feeding. Feeding takes a whole lot especially if you are into grow out production. Just imagine feeding 1000pieces offish for 5 month and one bag of imported pellet feed now is about N4200. All of this is not to scare you but to prepare your mind for the task ahead of you.
You can reduce your cost of feeding by giving them a locally formulated feed. There are several places where you can buy the feed ingredients and then grind and pellet for your fish. In feeding your fish with the local feed, be careful not to waste you feed. Watch your fish as they feed and then stop feeding immediate the fish has stopped rushing for the food. The reason why you should stop feeding is because the local feed will eventually sink later n it will pollute the water which will cause trouble for your fish. But with the imported floating feeds, you will still see the remains of the feed on the water floating.
MANAGEMENT
Management covers all the operations which are required to keep the pond operating at maximum efficiency. For earthen ponds:
Check your pond often for leaks.
Remove undesirable aquatic weeds.
Always watch fish behavior while feeding.
Fertilize your pond when necessary.
Watch for predators.
Cut grasses on pond walls.
Periodically, clean the bottom of your pond as this will control the PH of your water.
General Management.
Change your water periodically.
Feed well.
Observe fish for signs of disease.
How do I know the number of fish to stock in my pond or a tank?
The size of your pond or concrete tank will determine the number of fish to stock. Some usually stock between 2 to 10 juvenile per meter square, and some other will stock between 5 to 7 juvenile per meter square. The most important thing is do not over stock and do not under stock. Infact, it is better to understock than to overstock because the fewer your fish, the faster their growth.
What happens when I overstock?
Firstly, Your fish will not grow as fast as they should.
Also, there will be reduction of oxygen in the culture system and when the fish have less oxygen available for them, they will be stressed and stress in fish will lead to disease outbreak.
What should be the size of my pond?
The size of your pond will depend on the purpose for which it is to serve. But it is better to have a pond that can be easily managed. For instance, you can have 2 - 3 ponds on 1 plot of land. It all depends on your capabilities.
FINGERLING PRODUCTION
With fingerling production, you do not need months to raise your fish. You can start selling your fish at 6 weeks old depending on their growth rate. Sales of fingerling should not be more than 6 – 8 weeks.
Step 1.
Get your culture systems ready ( A CONCRETE TANK OR A VAT). I have explained that of the concrete tank earlier. The Vat is usually constructed with planks and a carpet or tapeline laid on the wall and the floor of the wood after constructing it. Also with a vat, you do not stock your fish immediately. Fill with water and leave it for at least one week before stocking. Do not construct you Vat where direct sunlight reaches.
Step 2.
Buy your fries and transfer them to you farm. Ensure you transfer them early in the morning. And when you get to your farm, do not pour them into the water just like that. Lower you container close to the water and then pour gently. Do not feed immediately. Feed several hours later. Management is still the same as mentioned above.
As you manage and feed you fish daily, you will notice that some of the fish are growing bigger than the rest. At this point, remove the bigger once and take them to another vat. If you leave them there, they will eat up the smaller once. This is called SORTING. Sometimes, you will have bring out all the fish and sort them, leaving fish of the same size in a Vat.
Step 3.
Start marketing your fish before they are ready for sale.
HOW TO START SMALL
You do not need N500,000 to start your fish farming business. You can start small by constructing a Vat for fingerling production. Four Vats of about 11ft by 3ft is enough to start you business. You can even have just two. For instance, I started with just one Vat. I will not advise you to start with one vat because you will need another vat for the sorted fish. Grow your business from using 2-3 vats and you can then expand.
Signs that your fish are in trouble.
Slow swimming.
Floating at the surface of water, gasping for air.
When you notice this, change you water first and then watch them for that day. Sometimes, it’s as a result of low oxygen in the water. Ensure you seek professional assistance from time to time.
Very Important.
Fish requires a PH of 6.5 – 7.5. Although they will still survive in a PH of 6 – 8
Test your water and ensure it is okay for the survival of your fish.
Handle your fish with care.
Water, Feed, and Management, when all these are in their proper state, you will have very little or no problem in fish farming.
How to make your customers come back again.
Your customers will always come back if you supply them with a good, healthy fish. This is why you can’t afford to buy you Broodstocks or Fries anywhere.
You will notice I only discussed about Earthen ponds, Vat, and Concrete tanks, this is because those culture systems are used by 75% of Nigerian farmers while that of the Cage and Pen are used by the other farmers.
Have you always thought about starting your own fish farm but you are not so sure about how it works, what to do and how to start. Here is a guide to help you start your own fish farming business.
Things You Need To Start Your Fish Farming Business.
1. KNOWLEDGE
Knowledge is key in fish farming and without which you may end up loosing your money at the end of the day.
You need to know the following:
a. How to hatch if you are interested in hatching yourself.
b. Raising from fries to fingerlings or grow out
c. Managements practices
d. Culture Systems
e. Feeding e.t.c
2. CAPITAL
You need capital for the following:
a. Purchase of Land
b. Construction of Concrete Tanks, Earthen Ponds or Vats
c. Farm Materials e.g PH Meter, Nets e.t.c
d. Feed e.t.c
You can either start big or small. Staring big means you want buy a land, construct large concrete tanks and then go into grow-out production. Starting small means you want to use the available space in you compound, construct vats or small concrete tanks and then go into fingerlings production. Starting big or small depends on your present capital.
Your Knowledge of fish farming and Capital works together. If you have the capital without the knowledge, your capital may not be too useful. If also have the knowledge without the capital, then your knowledge may not also be too useful so the too factors work hand in hand.
CULTURE SYSTEMS
Fish can be raised in CONCRETE TANKS, EARTHEN PONDS, VATS, PVC E.T.C All these culture systems have their own management practices and its very important to note that your choice of production ( fingerlings production or grow-out production) will determine the type culture system to use.
HOW CAN I START MAKING MONEY.
You can start by buying fries, raising them to fingerlings or posts fingerlings and then sell.
You can hatch them yourself, raise them and sell at fries, fingerlings or post fingerlings.
As an experienced farmer, I prefer to hatch myself, raise and sell at whatever size I intend to sell them. Briefly, note that it is more expensive to buy, raise and resell while it is very cheap to hatch yourself, raise and then sell.
Fish farming is a very lucrative business. Fish is consumed daily and its demand is yet to be met so you can also be one of those making fish available while you make your money. People consume fish everyday, so the market is always available for you.
Have you always thought about starting your own fish farm but you are not so sure about how it works, what to do and how to start. Here is a guide to help u start your own fish farming business.
Fish farming involves raising of fish commercially in tanks or enclosures commercially for food. Fish farming is a form of aquaculture and the essence is to increase the number of fish available in the society because the increased demand of fish has led over fishing in the wild.
HOW TO GET STARTED IN FISH FARMING
STEP BY STEP
STEP 1.
You need A LAND. After aquiring the land, then you need to decide which culture system you want to use.
Types of culture system:
Pond.
Concrete tanks.
Vats.
Cage.
Pen.
If you will use a pond, the land should not just be any land. The soil on that land should be clayey, or most importantly, it should be such that can hold water. On this land, you will either have A POND, OR A CONCRETE TANK. If you want to go into Grow-out production, you can use both the concrete tanks and the earthen pond. But if you want to go into fingerling production, you will have to use the concrete tanks. You may want to ask if you can’t use the earthen ponds for fingerling production. Yes you can, but for proper management reasons, you cant. You will get to understand the management reasons as we go along. So, your earthen pond should be constructed by experts who can do the job properly. In selecting your pond site, avoid areas that are usually flooded and ensure the area is such that you can drain your water easily. Your pond should be constructed in an area where there is availability of water because NO WATER, NO BUSINESS AND INCONSISTENT WATER SUPPLY = FRUSTRATION IN BUSINESS. So, water is one major factor to consider when choosing your site location. In constructing your site, get an expert and not just any body who can just dig the ground for you
These experts should be familiar with the following:
The land has to be properly cleared of its weeds and hard roots.
After excavating, the dike with a gentle slope should be built in such a way that the water will not seep into the soil.
The inlets and outlet should be built.
The pond dike should be protected.
The pond should be fertilized before filling it with water.
The pond should be left for about a week before stocking with fish so that the water condition will be in it normal state and natural food production will have evolved for the fish to feed on.
STEP 2.
When your pond is set, purchase your juvenile or jumbo sized fish and then stock. Ensure you cover your pond with net to prevent predators from coming in to eat up your fish and for those that can not eat up your fish, they will compete with your fish for food and this means your fish will not grow as they aught to because their food is been limited.
Get someone to construct your concrete tanks for you. For proper management, it should not be too big. And after constructing your concrete tanks, you will have to wash off cements. In doing this, you will have to spread farm yard manure into your tank for at least 3 days, the manure will decompose and reduce the effect of the cement. Clean and wash out the pond with water, then stock. Or you could just fill the tank with water and leave it for 1 week, flush the water out after one week, wash and fill with water again for another one week, flush and then stock your fish with a fresh water.
FEEDING.
As a fish farmer, especially for someone who is just going into the business, you need to understand that close to 50% of your investment goes in feeding. Feeding takes a whole lot especially if you are into grow out production. Just imagine feeding 1000pieces offish for 5 month and one bag of imported pellet feed now is about N4200. All of this is not to scare you but to prepare your mind for the task ahead of you.
You can reduce your cost of feeding by giving them a locally formulated feed. There are several places where you can buy the feed ingredients and then grind and pellet for your fish. In feeding your fish with the local feed, be careful not to waste you feed. Watch your fish as they feed and then stop feeding immediate the fish has stopped rushing for the food. The reason why you should stop feeding is because the local feed will eventually sink later n it will pollute the water which will cause trouble for your fish. But with the imported floating feeds, you will still see the remains of the feed on the water floating.
MANAGEMENT
Management covers all the operations which are required to keep the pond operating at maximum efficiency. For earthen ponds:
Check your pond often for leaks.
Remove undesirable aquatic weeds.
Always watch fish behavior while feeding.
Fertilize your pond when necessary.
Watch for predators.
Cut grasses on pond walls.
Periodically, clean the bottom of your pond as this will control the PH of your water.
General Management.
Change your water periodically.
Feed well.
Observe fish for signs of disease.
How do I know the number of fish to stock in my pond or a tank?
The size of your pond or concrete tank will determine the number of fish to stock. Some usually stock between 2 to 10 juvenile per meter square, and some other will stock between 5 to 7 juvenile per meter square. The most important thing is do not over stock and do not under stock. Infact, it is better to understock than to overstock because the fewer your fish, the faster their growth.
What happens when I overstock?
Firstly, Your fish will not grow as fast as they should.
Also, there will be reduction of oxygen in the culture system and when the fish have less oxygen available for them, they will be stressed and stress in fish will lead to disease outbreak.
What should be the size of my pond?
The size of your pond will depend on the purpose for which it is to serve. But it is better to have a pond that can be easily managed. For instance, you can have 2 - 3 ponds on 1 plot of land. It all depends on your capabilities.
FINGERLING PRODUCTION
With fingerling production, you do not need months to raise your fish. You can start selling your fish at 6 weeks old depending on their growth rate. Sales of fingerling should not be more than 6 – 8 weeks.
Step 1.
Get your culture systems ready ( A CONCRETE TANK OR A VAT). I have explained that of the concrete tank earlier. The Vat is usually constructed with planks and a carpet or tapeline laid on the wall and the floor of the wood after constructing it. Also with a vat, you do not stock your fish immediately. Fill with water and leave it for at least one week before stocking. Do not construct you Vat where direct sunlight reaches.
Step 2.
Buy your fries and transfer them to you farm. Ensure you transfer them early in the morning. And when you get to your farm, do not pour them into the water just like that. Lower you container close to the water and then pour gently. Do not feed immediately. Feed several hours later. Management is still the same as mentioned above.
As you manage and feed you fish daily, you will notice that some of the fish are growing bigger than the rest. At this point, remove the bigger once and take them to another vat. If you leave them there, they will eat up the smaller once. This is called SORTING. Sometimes, you will have bring out all the fish and sort them, leaving fish of the same size in a Vat.
Step 3.
Start marketing your fish before they are ready for sale.
HOW TO START SMALL
You do not need N500,000 to start your fish farming business. You can start small by constructing a Vat for fingerling production. Four Vats of about 11ft by 3ft is enough to start you business. You can even have just two. For instance, I started with just one Vat. I will not advise you to start with one vat because you will need another vat for the sorted fish. Grow your business from using 2-3 vats and you can then expand.
Signs that your fish are in trouble.
Slow swimming.
Floating at the surface of water, gasping for air.
When you notice this, change you water first and then watch them for that day. Sometimes, it’s as a result of low oxygen in the water. Ensure you seek professional assistance from time to time.
Very Important.
Fish requires a PH of 6.5 – 7.5. Although they will still survive in a PH of 6 – 8
Test your water and ensure it is okay for the survival of your fish.
Handle your fish with care.
Water, Feed, and Management, when all these are in their proper state, you will have very little or no problem in fish farming.
How to make your customers come back again.
Your customers will always come back if you supply them with a good, healthy fish. This is why you can’t afford to buy you Broodstocks or Fries anywhere.
You will notice I only discussed about Earthen ponds, Vat, and Concrete tanks, this is because those culture systems are used by 75% of Nigerian farmers while that of the Cage and Pen are used by the other farmers.
SATCHET/BOTTLED WATER PACKAGING BUSINESS
Without adequate clean water one suffers dehydration and eventual death. Water provides the medium in which all biochemical reactions take place. Water also plays a major role in the “evolution of biological systems”.
Almost 80per cent of all hospitals in Nigeria today lack good portable water. Hence the need to remove the entire undesirable elements and pathogens it may contain through treatment. Pure portable water is very essential for healthy living. It has no substitute.
Considering the increasing need for good quality drinking water packaged under very stringent hygienic condition as well the the costly effect of water borne diseases like craw-craw, worm infections, water blindness, dysentery, diarrhea, typhoid fever, cholera to mention but few, it becomes paramount to go for clean (pure) water packaging business to deliver Nigerians this high-demand product called Pure Water in local parlance.
From the above, investment into innovative purification and packaging of colorless, odorless and tasteless, drinking water seems a very lucrative business. Already there is rampant and most popular way of packaging water in cellophane sachets usually called "pure water” and sold for N5.00. Though this aspect of packaging water is simpler, cheaper and enhances easy entry and exit, higher turnover because of the cheapness of the products, it has been observed that this has been abused by a lot of people. A more organized means of production of pure water has been found to be gradually taking over: sachet” type of packaging.
Apart from the fact that there is an existing markets for the bottled water, a well purified and packaged, water are exportable to Europe Far-East some African countries and America. Details of the companies, countries, prices and standard required will be given to prospective investors on request.
Presently a plastic bottling can for pure water production is taking over.
This is found to be more lucrative too. This is because not every type of investors can invest on it like ordinary nylon/cellophane packaging of water. All attention is shifting to the plastic bottled water.
The plant can be set up at any part of the country. The plant consists of water treatment plant made up of seal sedimentation, tank, filters, suction pump, alpha chambers, pressure gauge and stainless tank and tama flow 700 and industrial purification system. This machine incorporates from consecutive operations-pre-filters, activated carbon, polisher and ultra violet sterilizer. It also has v/v designed for 30-3 L/min maximum flow rate, 60 PSIG Max pressure, 220 V/50 Hz voltage, 254-barometer wavelength lamp and 99per cent bacteria elimination rate.
The plant can produce 30 liters of well-purified water per minute. This implies that it can purify about 14,400 liters of water per shift of 8 hours.
The writer will educate prospective investors more on contacting him for procurement and installation. There must be water purity testing machine to make sure that the water is germ free.
Finally corking machine is needed.
The raw materials for this project are water, plastic cans and water treatment chemicals such as Ozone, etc. All these are locally available in Nigeria plastic making companies. The chemicals are all available in Nigeria. The water could be obtained regularly either from borehole or natural spring water.
Production techniques are very easy. It involves rust removal, filtration to produce clear, colorless, tasteless drinking water. The chemicals are added to clear any bacteria and germ free from the water. The water is then filled in the bottle, corked and ready for sale.
Study carried out indicated that prospective investor must have a decent building walled and painted with very clean environment, if he must obtain the NAFDAC approval to be business.
From study also carried out the project can be started with the sum of 3.6 million (the cost breakdown is shown below) is required to set up sachet water producing and N9.6 million for automated bottling/sacheting plant.
The project gross profit margin for the project is worked out as N9.7 million in the first year and N14.27 million in the fifth year. Projected operating costs for the first year is N1.140 million and N1.519 million in the 5th year.
When the operating costs are deducted the investor would be recording N6.096 million in the first year and N9.030 million in the fifth year.
It is very lucrative business. The writer can assist prospective investors to conduct comprehensive and bankable feasibility studies, assist in sourcing the required funds and procurement and installation of a well tested, NAFDAC approval plants and machinery.
Financial projection
Preliminary Expenses 100 100
Plant & Machinery 1,300 5,000
Accommodation 550 550
Motor Vehicle 500 1,500
Operational Expenses 600 2,000
Contingencies 270 500
Total 3,600 N9,650
The new dimension of water bottling, with 20-liter dispenser and bottle racks is also very lucrative and can be incorporated into this project plan.
BOTTLED WATER PACKAGING
The following is a bottled water service delivery business guide to help new entrepreneurs establish their own business.
Water packaging business provides packaged water products to quench the daily thirst of people. This business is an evergreen type because it will continue to be relevant as long as there is human civilisation. Even as you read this piece, you might be sipping a packaged water product.
• Start-up cost as low as N10 million or more depending on the size of investment
• Potential first year earnings: N30 million
• Breakeven time from initial investment: very rapid (can be between 1 to 2 years)
• Future growth potential: very high
• Dynamic, fast-growing industry
• Possible for small business or cooperative-based organisations
• Not much staffing required especially at the beginning
I met a charming lady some years back who confided in me that she wanted to start a business after having been involved in contract jobs for quite a while. She had read an article I wrote for a women magazine that period and was fired up to do something with her life, beyond seeking and getting contracts. She had some money with her and needed just some form of moral and professional support to start. In my first discussions with her, after she had narrated her desire to me, I remembered telling her that business is not normally imposed. If it has ever happened that way, it would be an exception and not the rule. Whatever business you intend starting must come from within you. It must stir you up from the inside. However, you can also get some insight into what kind of business to go into by reading up on sample businesses like the series we are running now. In fact, as one professional put it, “Many individuals are not really sure of what business to start – but they know they’re in love with the concept of entrepreneurship. If you aren’t positive which business to start, don’t apologise: As long as you pour the same enthusiasm into a venture once you pick your star, you can be as successful as the individual who always knew which field to enter.”
The demand for clean water has been increasing steadily for the last couple of decades. This is due to the rising concern for chemicals and other impurities that may be present in tap water. With many people becoming more and more health-conscious, the bottled water industry became one of the most profitable businesses today.
Accordingly, the following are some helpful tips on how to establish a bottled water delivery service biz.
Create a Bottled Water Delivery Service Business Plan
Planning is the first and foremost thing every entrepreneur should do. This is to have a proper assessment of the market, including the startup cost for a bottled water delivery service biz, competitors, consumers and other incidents of the business.
Decide What Type of Bottled Water Delivery Service Biz to Establish
There are different types of water bottled and sold to consumers. These are the spring water, purified water and distilled water. Pure spring water
is collected from springs and wells and bottled at source. Purified drinking water on the other hand, comes from a process called reverse osmosis to remove dissolved minerals. Lastly, distilled water also removes dissolved minerals through vaporization and condensation of water.
Next is to decide what type of water bottle to sell. There is the individual bottled water and the large bottled water, usually containing 5 gallons. The large bottles are usually preferred in households and offices because it is cheaper. With this type of service, it is necessary to invest in water cooling units, which can be rented along with the bottled water sold.
Study the Market of Bottled Water Delivery Service Business
The next thing to do is to asses the market. Decide first where to start a bottled water delivery service biz. Take into consideration the target consumers and the prevailing bottled water delivery service biz competitors to know the profitability of the business.
It is important to select an area to startup a bottled water delivery service biz where there are few competitors and many possible clients. The usual bottled water delivery service biz clients are households and offices. These consumers prefer bottled water delivery service that is closest to them, which is more convenient and most of the time, provides better and prompt service.
Bottled Water Delivery Service Business License
Last but not the least is to secure a license from the proper authorities. Compliance with the law is essential in any business establishment. This is to maximize the benefits of the bottled water delivery service business.Visit the NAFDAC office in your State to find out more.
Background to water packaging business
The Earth has 1,386,000,000 km3 of water total but only 2.5 percent of that is fresh water (i.e. 35,029,000 km3 or 9,254,661,800 gallons of fresh water).
Why is fluid important?
Water is essential for the growth and maintenance of our bodies and is an important component in the diet. The British Dietetic Association guidelines state that an average adult should consume 2.5 litres of water of which 1.8 litres (or 5 x 330 ml cans; 7 x 250 ml glasses) must be in fluid form, the remainder being obtained from foods. For children to maintain their correct water level of 60-70% body weight, they need to consume up to 2 litres of fluid every day. This intake needs to be increased during periods of hot weather or during and after periods of physical activity in order to avoid dehydration.
What are the effects of dehydration?
Dehydration is caused by consuming too little fluid and can cause symptoms such as headaches, tiredness and loss of concentration. Adults eliminate around 2.5 litres of water per day, through urine, perspiration and respiration. In children, this varies greatly according to the outside temperature, age and activity level of the child, as well as other factors. Children do not instinctively drink enough to replenish the fluids lost during prolonged activity or play periods and evidence has shown that they consequently become dehydrated. Research has shown that children are more likely to drink sufficient liquid to replace lost fluids and maintain hydration during activity when presented with flavoured beverages.
Packaged water products
Water is classified as bottled water or sachet water (pure water) if it meets all applicable standards, is sealed in a sanitary container/package and is sold for human consumption. Bottled/sachet water cannot contain sweeteners or chemical additives (other than flavours, extracts or essences) and must be calorie-free and sugar-free. Flavours, extracts and essences, derived from spice or fruit, can be added to bottled water, but these additions must comprise less than one percent by weight of the final product. Beverages containing more than the one-percent-by-weight flavour limit are classified as soft drinks, not packaged water. In addition, packaged water may be sodium-free or contain “very low” amounts of sodium. Some packaged waters contain natural or added carbonation.
Water Purification Technology
The packaged water business requires a high level of water purification so consumers’ health wouldn’t be compromised for monetary considerations. I’ll advise those already in this business and those venturing into it to utilise the latest water purification system called Reverse Osmosis Purification System. This system removes all contaminants, odour, harmful chemicals, volatile organic compounds, and totally dissolves solids and pathogens. It is found out now that chlorinated water is carcinogenic. The US Council of Environmental Quality says that the risk of having cancer is 93% high among people who drink water treated with chlorine. Gradually, concerns are being raised as to the hazards created by chlorine-treated water as research now shows that not only does chlorinated water cause cancer, it also leads to immune system impairment, diabetes, neurotoxicity, birth defects, decreased fertility, hormonal imbalances and reproductive dysfunction in men and women. It is therefore of utmost importance that those going into or already in the packaged water business should mind the health of our people and upgrade their technology, totally eliminating the use of chlorine as is now done by the Coca-Cola company in Europe, Namibia and the US and some other parts of the world.
Target Market for Packaged Water Products
The target market for packaged water products includes everyone, from the young to the old. It covers:
• School children
• Workers
• Schools
• Business places
• Worship centres
• Marketplaces
• Eateries, posh and local restaurants
• Formal Gatherings and events
• Parties and celebrations
Technical and Other Requirements
Organisations that are into packaged water are to seek registration with The National Agency for Food and Drug Administration and Control (NAFDAC), which is the regulatory agency in the country that monitors and controls the food and drugs sector. NAFDAC insists that water and water base industries must not be close to a cemetery, abattoir, petrol station, refuse dump, sewage system, saw mill, etc. Owners of this business need to get clearance from NAFDAC before commencing production. The technical and business architecture of the business will determine the overall success of the business. For instance, in this business, the owner needs bottling/sacheting water machines, a factory environment for production, cloak room, packaging material room, finished product room, a water treatment plant (using preferably Reverse Osmosis Purification System), borehole or a water source, and so on.
Income Potentials
Let’s take for instance Lagos state with an unofficial population of about 18 million people (from the Lagos state website). If 85% of this number patronise packaged water products, what we have will be 15.5 million potential customers. If 75% of this market take sachet water, then the number comes to approximately 12 million, while 3.5 million represent those who take bottled water. If your business captures 1% of the sachet water market, you will be serving 120,000 customers. If every day, each one takes 3 sachets of water on the average, we are talking about 360,000 sachets. Since a bag of sachet water contains 20, this means you’ll be selling 18,000 sachet water bags daily. If the cost of producing a bag is N40 and you’re giving it out at N55, you’ll be making N15 per bag as profit and N270,000 daily. For a 24-working day period in a month, you will be talking about N6.48million as profit monthly and N58.32 million for a 9-month business year (factoring in the rainy season). If you achieve 50% of your income potential in the first year, you’ll be talking about N29 million profit. I have not worked out the income and returns on bottled water.
You however need a good and comprehensive business plan to show you how to effectively market and promote your packaged water products, build a strong and effective business and technical architecture and evolve a workable corporate strategy for overall business success, competitive advantage and customer growth.
Almost 80per cent of all hospitals in Nigeria today lack good portable water. Hence the need to remove the entire undesirable elements and pathogens it may contain through treatment. Pure portable water is very essential for healthy living. It has no substitute.
Considering the increasing need for good quality drinking water packaged under very stringent hygienic condition as well the the costly effect of water borne diseases like craw-craw, worm infections, water blindness, dysentery, diarrhea, typhoid fever, cholera to mention but few, it becomes paramount to go for clean (pure) water packaging business to deliver Nigerians this high-demand product called Pure Water in local parlance.
From the above, investment into innovative purification and packaging of colorless, odorless and tasteless, drinking water seems a very lucrative business. Already there is rampant and most popular way of packaging water in cellophane sachets usually called "pure water” and sold for N5.00. Though this aspect of packaging water is simpler, cheaper and enhances easy entry and exit, higher turnover because of the cheapness of the products, it has been observed that this has been abused by a lot of people. A more organized means of production of pure water has been found to be gradually taking over: sachet” type of packaging.
Apart from the fact that there is an existing markets for the bottled water, a well purified and packaged, water are exportable to Europe Far-East some African countries and America. Details of the companies, countries, prices and standard required will be given to prospective investors on request.
Presently a plastic bottling can for pure water production is taking over.
This is found to be more lucrative too. This is because not every type of investors can invest on it like ordinary nylon/cellophane packaging of water. All attention is shifting to the plastic bottled water.
The plant can be set up at any part of the country. The plant consists of water treatment plant made up of seal sedimentation, tank, filters, suction pump, alpha chambers, pressure gauge and stainless tank and tama flow 700 and industrial purification system. This machine incorporates from consecutive operations-pre-filters, activated carbon, polisher and ultra violet sterilizer. It also has v/v designed for 30-3 L/min maximum flow rate, 60 PSIG Max pressure, 220 V/50 Hz voltage, 254-barometer wavelength lamp and 99per cent bacteria elimination rate.
The plant can produce 30 liters of well-purified water per minute. This implies that it can purify about 14,400 liters of water per shift of 8 hours.
The writer will educate prospective investors more on contacting him for procurement and installation. There must be water purity testing machine to make sure that the water is germ free.
Finally corking machine is needed.
The raw materials for this project are water, plastic cans and water treatment chemicals such as Ozone, etc. All these are locally available in Nigeria plastic making companies. The chemicals are all available in Nigeria. The water could be obtained regularly either from borehole or natural spring water.
Production techniques are very easy. It involves rust removal, filtration to produce clear, colorless, tasteless drinking water. The chemicals are added to clear any bacteria and germ free from the water. The water is then filled in the bottle, corked and ready for sale.
Study carried out indicated that prospective investor must have a decent building walled and painted with very clean environment, if he must obtain the NAFDAC approval to be business.
From study also carried out the project can be started with the sum of 3.6 million (the cost breakdown is shown below) is required to set up sachet water producing and N9.6 million for automated bottling/sacheting plant.
The project gross profit margin for the project is worked out as N9.7 million in the first year and N14.27 million in the fifth year. Projected operating costs for the first year is N1.140 million and N1.519 million in the 5th year.
When the operating costs are deducted the investor would be recording N6.096 million in the first year and N9.030 million in the fifth year.
It is very lucrative business. The writer can assist prospective investors to conduct comprehensive and bankable feasibility studies, assist in sourcing the required funds and procurement and installation of a well tested, NAFDAC approval plants and machinery.
Financial projection
Preliminary Expenses 100 100
Plant & Machinery 1,300 5,000
Accommodation 550 550
Motor Vehicle 500 1,500
Operational Expenses 600 2,000
Contingencies 270 500
Total 3,600 N9,650
The new dimension of water bottling, with 20-liter dispenser and bottle racks is also very lucrative and can be incorporated into this project plan.
BOTTLED WATER PACKAGING
The following is a bottled water service delivery business guide to help new entrepreneurs establish their own business.
Water packaging business provides packaged water products to quench the daily thirst of people. This business is an evergreen type because it will continue to be relevant as long as there is human civilisation. Even as you read this piece, you might be sipping a packaged water product.
• Start-up cost as low as N10 million or more depending on the size of investment
• Potential first year earnings: N30 million
• Breakeven time from initial investment: very rapid (can be between 1 to 2 years)
• Future growth potential: very high
• Dynamic, fast-growing industry
• Possible for small business or cooperative-based organisations
• Not much staffing required especially at the beginning
I met a charming lady some years back who confided in me that she wanted to start a business after having been involved in contract jobs for quite a while. She had read an article I wrote for a women magazine that period and was fired up to do something with her life, beyond seeking and getting contracts. She had some money with her and needed just some form of moral and professional support to start. In my first discussions with her, after she had narrated her desire to me, I remembered telling her that business is not normally imposed. If it has ever happened that way, it would be an exception and not the rule. Whatever business you intend starting must come from within you. It must stir you up from the inside. However, you can also get some insight into what kind of business to go into by reading up on sample businesses like the series we are running now. In fact, as one professional put it, “Many individuals are not really sure of what business to start – but they know they’re in love with the concept of entrepreneurship. If you aren’t positive which business to start, don’t apologise: As long as you pour the same enthusiasm into a venture once you pick your star, you can be as successful as the individual who always knew which field to enter.”
The demand for clean water has been increasing steadily for the last couple of decades. This is due to the rising concern for chemicals and other impurities that may be present in tap water. With many people becoming more and more health-conscious, the bottled water industry became one of the most profitable businesses today.
Accordingly, the following are some helpful tips on how to establish a bottled water delivery service biz.
Create a Bottled Water Delivery Service Business Plan
Planning is the first and foremost thing every entrepreneur should do. This is to have a proper assessment of the market, including the startup cost for a bottled water delivery service biz, competitors, consumers and other incidents of the business.
Decide What Type of Bottled Water Delivery Service Biz to Establish
There are different types of water bottled and sold to consumers. These are the spring water, purified water and distilled water. Pure spring water
is collected from springs and wells and bottled at source. Purified drinking water on the other hand, comes from a process called reverse osmosis to remove dissolved minerals. Lastly, distilled water also removes dissolved minerals through vaporization and condensation of water.
Next is to decide what type of water bottle to sell. There is the individual bottled water and the large bottled water, usually containing 5 gallons. The large bottles are usually preferred in households and offices because it is cheaper. With this type of service, it is necessary to invest in water cooling units, which can be rented along with the bottled water sold.
Study the Market of Bottled Water Delivery Service Business
The next thing to do is to asses the market. Decide first where to start a bottled water delivery service biz. Take into consideration the target consumers and the prevailing bottled water delivery service biz competitors to know the profitability of the business.
It is important to select an area to startup a bottled water delivery service biz where there are few competitors and many possible clients. The usual bottled water delivery service biz clients are households and offices. These consumers prefer bottled water delivery service that is closest to them, which is more convenient and most of the time, provides better and prompt service.
Bottled Water Delivery Service Business License
Last but not the least is to secure a license from the proper authorities. Compliance with the law is essential in any business establishment. This is to maximize the benefits of the bottled water delivery service business.Visit the NAFDAC office in your State to find out more.
Background to water packaging business
The Earth has 1,386,000,000 km3 of water total but only 2.5 percent of that is fresh water (i.e. 35,029,000 km3 or 9,254,661,800 gallons of fresh water).
Why is fluid important?
Water is essential for the growth and maintenance of our bodies and is an important component in the diet. The British Dietetic Association guidelines state that an average adult should consume 2.5 litres of water of which 1.8 litres (or 5 x 330 ml cans; 7 x 250 ml glasses) must be in fluid form, the remainder being obtained from foods. For children to maintain their correct water level of 60-70% body weight, they need to consume up to 2 litres of fluid every day. This intake needs to be increased during periods of hot weather or during and after periods of physical activity in order to avoid dehydration.
What are the effects of dehydration?
Dehydration is caused by consuming too little fluid and can cause symptoms such as headaches, tiredness and loss of concentration. Adults eliminate around 2.5 litres of water per day, through urine, perspiration and respiration. In children, this varies greatly according to the outside temperature, age and activity level of the child, as well as other factors. Children do not instinctively drink enough to replenish the fluids lost during prolonged activity or play periods and evidence has shown that they consequently become dehydrated. Research has shown that children are more likely to drink sufficient liquid to replace lost fluids and maintain hydration during activity when presented with flavoured beverages.
Packaged water products
Water is classified as bottled water or sachet water (pure water) if it meets all applicable standards, is sealed in a sanitary container/package and is sold for human consumption. Bottled/sachet water cannot contain sweeteners or chemical additives (other than flavours, extracts or essences) and must be calorie-free and sugar-free. Flavours, extracts and essences, derived from spice or fruit, can be added to bottled water, but these additions must comprise less than one percent by weight of the final product. Beverages containing more than the one-percent-by-weight flavour limit are classified as soft drinks, not packaged water. In addition, packaged water may be sodium-free or contain “very low” amounts of sodium. Some packaged waters contain natural or added carbonation.
Water Purification Technology
The packaged water business requires a high level of water purification so consumers’ health wouldn’t be compromised for monetary considerations. I’ll advise those already in this business and those venturing into it to utilise the latest water purification system called Reverse Osmosis Purification System. This system removes all contaminants, odour, harmful chemicals, volatile organic compounds, and totally dissolves solids and pathogens. It is found out now that chlorinated water is carcinogenic. The US Council of Environmental Quality says that the risk of having cancer is 93% high among people who drink water treated with chlorine. Gradually, concerns are being raised as to the hazards created by chlorine-treated water as research now shows that not only does chlorinated water cause cancer, it also leads to immune system impairment, diabetes, neurotoxicity, birth defects, decreased fertility, hormonal imbalances and reproductive dysfunction in men and women. It is therefore of utmost importance that those going into or already in the packaged water business should mind the health of our people and upgrade their technology, totally eliminating the use of chlorine as is now done by the Coca-Cola company in Europe, Namibia and the US and some other parts of the world.
Target Market for Packaged Water Products
The target market for packaged water products includes everyone, from the young to the old. It covers:
• School children
• Workers
• Schools
• Business places
• Worship centres
• Marketplaces
• Eateries, posh and local restaurants
• Formal Gatherings and events
• Parties and celebrations
Technical and Other Requirements
Organisations that are into packaged water are to seek registration with The National Agency for Food and Drug Administration and Control (NAFDAC), which is the regulatory agency in the country that monitors and controls the food and drugs sector. NAFDAC insists that water and water base industries must not be close to a cemetery, abattoir, petrol station, refuse dump, sewage system, saw mill, etc. Owners of this business need to get clearance from NAFDAC before commencing production. The technical and business architecture of the business will determine the overall success of the business. For instance, in this business, the owner needs bottling/sacheting water machines, a factory environment for production, cloak room, packaging material room, finished product room, a water treatment plant (using preferably Reverse Osmosis Purification System), borehole or a water source, and so on.
Income Potentials
Let’s take for instance Lagos state with an unofficial population of about 18 million people (from the Lagos state website). If 85% of this number patronise packaged water products, what we have will be 15.5 million potential customers. If 75% of this market take sachet water, then the number comes to approximately 12 million, while 3.5 million represent those who take bottled water. If your business captures 1% of the sachet water market, you will be serving 120,000 customers. If every day, each one takes 3 sachets of water on the average, we are talking about 360,000 sachets. Since a bag of sachet water contains 20, this means you’ll be selling 18,000 sachet water bags daily. If the cost of producing a bag is N40 and you’re giving it out at N55, you’ll be making N15 per bag as profit and N270,000 daily. For a 24-working day period in a month, you will be talking about N6.48million as profit monthly and N58.32 million for a 9-month business year (factoring in the rainy season). If you achieve 50% of your income potential in the first year, you’ll be talking about N29 million profit. I have not worked out the income and returns on bottled water.
You however need a good and comprehensive business plan to show you how to effectively market and promote your packaged water products, build a strong and effective business and technical architecture and evolve a workable corporate strategy for overall business success, competitive advantage and customer growth.
Wednesday, February 3, 2010
DO YOU KNOW WHY MANY PEOPLE ARE POOR?
THE REASON WHY MANY ARE POOR
OH!, what a life we live in today, whereby many people are not willing to take responsibility for what they do.(i.e their actions). They feel too lazy to take risk, they don’t really know that risk takers are the Great men of today. These men never give up at the slightest time, always ready press forward despite their current situation.
Notwithstanding their present situation, these great men think beyond their pockets. Example of them is President Obama of U.S.A., e.t.c Have you read this book titled “Think Big and Grow rich” by Napoleon Hill, this book helps to THINK like a millionaire, ACT like a millionaire and even SPEAK like a millionaire. My friend, I tell you that you are what you think, it is not possible to see yourself a mediocre and Become that Great man, come out of your Self pity into Self esteem.
Many youth of today, don’t want to get that information, all they want is that money that’s why many of our youth today turnout to become scams. And this is because they love money, but hate Creativity, Henry Ford, the Automobile Giant, once said, “If you take away the Five million dollars I had, in Five years time I will get it back, because the INFORMATION is there”. Information brings transformation.
Do you wish to become a singer, start singing from your home, work towards it, see yourself sing on stage to a great crowd of people. Or your wish is be an Entrepreneur think like one, write business plans ,work towards achieving your goal and then you will Grow to live your Dream. Mainly, it has been said, “Ninety percent (90%) of the great men of today comes from a poor Background. And these worked had despite their background, they stood on their ground for what they know how to do. They never give up to;
v Procrastination.
v Lack of self Confidence.
v Lack of Risk taking/Responsibility.
v Looking at their Background.
Never let your background weigh you down, possess your ground today! Today!! Today!!!Lastly, nobody will buy into you, until you buy into yourself.
OH!, what a life we live in today, whereby many people are not willing to take responsibility for what they do.(i.e their actions). They feel too lazy to take risk, they don’t really know that risk takers are the Great men of today. These men never give up at the slightest time, always ready press forward despite their current situation.
Notwithstanding their present situation, these great men think beyond their pockets. Example of them is President Obama of U.S.A., e.t.c Have you read this book titled “Think Big and Grow rich” by Napoleon Hill, this book helps to THINK like a millionaire, ACT like a millionaire and even SPEAK like a millionaire. My friend, I tell you that you are what you think, it is not possible to see yourself a mediocre and Become that Great man, come out of your Self pity into Self esteem.
Many youth of today, don’t want to get that information, all they want is that money that’s why many of our youth today turnout to become scams. And this is because they love money, but hate Creativity, Henry Ford, the Automobile Giant, once said, “If you take away the Five million dollars I had, in Five years time I will get it back, because the INFORMATION is there”. Information brings transformation.
Do you wish to become a singer, start singing from your home, work towards it, see yourself sing on stage to a great crowd of people. Or your wish is be an Entrepreneur think like one, write business plans ,work towards achieving your goal and then you will Grow to live your Dream. Mainly, it has been said, “Ninety percent (90%) of the great men of today comes from a poor Background. And these worked had despite their background, they stood on their ground for what they know how to do. They never give up to;
v Procrastination.
v Lack of self Confidence.
v Lack of Risk taking/Responsibility.
v Looking at their Background.
Never let your background weigh you down, possess your ground today! Today!! Today!!!Lastly, nobody will buy into you, until you buy into yourself.
QUESTION: IS ANY AMOUNT TOO SMALL OR TOO BIG TO START A BUSINESS?
STARTING A BUSINESS WITH 700,000.00 IN NIGERIA
Seven hundred thousand Naira is neither a small amount nor too big amount of money to start a business with.
It all depends on the following and other factors:
The type of business
The level you want to start from
The expected return on investment
The type of technology and machinery to be used. For example, this amount can only buy a medium size camera used in the Nigerian home video industry.
The type of human capital to be employed in terms of their skills and levels
The chosen location for the business. If you are to use some locations at Ikeja, Lagos Island and so on, the cost of renting a good office space alone can gulp this amount
It also depends on the value of your currency and the source of your equipment/machineries and other materials needed for the business.
And many more…factors……..
ESSENTIAL REQUIREMENTS FOR SETTING UP YOUR BUSINESS
According to various experts on business related matters, preparation of a business plan is an essential first step if you want to set up and work in your own business.
The process of completing your business plan will help you to determine if the business is feasible. It will enable you to know if you need financial assistance to start and operate the business,
The lending organization, e.g. the bank, will insist on seeing and reviewing your business plan.
Ask a knowledgeable person in business matters to draw up a business plan for you, if you can not draw up one for yourself
The essential components of a business plan among other components include:
1. A description of the business which would include an overview of the industry in which it is to operate
2. How the business is to be structured, managed and staffed,
3. Its legal status
4. The products and/or services to be provided
5. The available markets
6. The analysis and description of the market the business will serve, including the size of the market, the customers of the business, the competition, and estimated sales.
7. How the business is to be positioned in the market place
8. The pricing strategy
9. How products/services will be developed and/or manufactured,
10.Direct and indirect costs of production
11.Sales strategy will include methods of sales
12.Marketing strategy will include how the business will be advertised and promoted.
13.Details of ownership and the management team.
14.Financial statements including a balance sheet and cash flow projections
PLEASE ANSWER THE FOLLOWING QUESTIONS:
Did you study any course that is related to the business in question?
Do you have any passion for the type of business being suggested to you?
Is it an important area of niche locally and internationally?
Are you just interested in it because it is one of those businesses in vogue?
Have you done a marketing survey on the cost of acquiring an office space, equipments/machineries and other things that will be needed in the business?
Is there a large market for the products and services that will be produced?
Have spoken with any one who is already successful in this business or someone who has a general business exposure or experience?
How did you come across the person(s) suggesting the business to you?
Have you done a p-roper appraisal of those suggesting the business to you?
What will be their relationship in the business (consultants or promoters or management staff)?
Do you have adequate managerial and financial planning and control experience?
Do you understand financial reports/statements and can properly interpret them for managerial or financial decision making process/purpose
Have you properly done a self appraisal as to whether you can effectively and efficiently run a business?
Some people are good at working for others; some can set up their businesses and employ experience and capable hands to run the business in their presence (you still have control over your business for you can hire and fire); while some can set-up, manage and grow their businesses with little assistance from other capable and experience hands.
Do you need to undergo some trainings in some of the above mentioned areas and others
Above all, have you drawn up a business plan for the proposed business
More articles will ben written on this and other business related topics. Keep visiting the blog
Seven hundred thousand Naira is neither a small amount nor too big amount of money to start a business with.
It all depends on the following and other factors:
The type of business
The level you want to start from
The expected return on investment
The type of technology and machinery to be used. For example, this amount can only buy a medium size camera used in the Nigerian home video industry.
The type of human capital to be employed in terms of their skills and levels
The chosen location for the business. If you are to use some locations at Ikeja, Lagos Island and so on, the cost of renting a good office space alone can gulp this amount
It also depends on the value of your currency and the source of your equipment/machineries and other materials needed for the business.
And many more…factors……..
ESSENTIAL REQUIREMENTS FOR SETTING UP YOUR BUSINESS
According to various experts on business related matters, preparation of a business plan is an essential first step if you want to set up and work in your own business.
The process of completing your business plan will help you to determine if the business is feasible. It will enable you to know if you need financial assistance to start and operate the business,
The lending organization, e.g. the bank, will insist on seeing and reviewing your business plan.
Ask a knowledgeable person in business matters to draw up a business plan for you, if you can not draw up one for yourself
The essential components of a business plan among other components include:
1. A description of the business which would include an overview of the industry in which it is to operate
2. How the business is to be structured, managed and staffed,
3. Its legal status
4. The products and/or services to be provided
5. The available markets
6. The analysis and description of the market the business will serve, including the size of the market, the customers of the business, the competition, and estimated sales.
7. How the business is to be positioned in the market place
8. The pricing strategy
9. How products/services will be developed and/or manufactured,
10.Direct and indirect costs of production
11.Sales strategy will include methods of sales
12.Marketing strategy will include how the business will be advertised and promoted.
13.Details of ownership and the management team.
14.Financial statements including a balance sheet and cash flow projections
PLEASE ANSWER THE FOLLOWING QUESTIONS:
Did you study any course that is related to the business in question?
Do you have any passion for the type of business being suggested to you?
Is it an important area of niche locally and internationally?
Are you just interested in it because it is one of those businesses in vogue?
Have you done a marketing survey on the cost of acquiring an office space, equipments/machineries and other things that will be needed in the business?
Is there a large market for the products and services that will be produced?
Have spoken with any one who is already successful in this business or someone who has a general business exposure or experience?
How did you come across the person(s) suggesting the business to you?
Have you done a p-roper appraisal of those suggesting the business to you?
What will be their relationship in the business (consultants or promoters or management staff)?
Do you have adequate managerial and financial planning and control experience?
Do you understand financial reports/statements and can properly interpret them for managerial or financial decision making process/purpose
Have you properly done a self appraisal as to whether you can effectively and efficiently run a business?
Some people are good at working for others; some can set up their businesses and employ experience and capable hands to run the business in their presence (you still have control over your business for you can hire and fire); while some can set-up, manage and grow their businesses with little assistance from other capable and experience hands.
Do you need to undergo some trainings in some of the above mentioned areas and others
Above all, have you drawn up a business plan for the proposed business
More articles will ben written on this and other business related topics. Keep visiting the blog
Starting a New Business Requires More Than Just A Good Idea!
The most important thing you can do to prepare for starting and operating your own business is to develop a business plan. This can take time and energy, but it forces you to really solidify your business idea. You can carefully plot exactly what your business, financial and expansion goals are. And this will help you progress in all other areas of starting your business as well. Without funding for startup costs, many successful businesses would never have been able to even open their doors.
Once you've done this, you will realize the significance of unsecured start up funding. Rarely does an individual have the savings or personal resources to put a business plan into action completely on their own. Often, even when one thinks this is the case, deeper development and planning dissuades this initial thought.
Small business funding can be a rather involved subject, filling shelves upon shelves of books at libraries and bookstores. The truth is though, you don't need a how-to book to get good funding. You simply need a good lender. Being able to determine once is what really counts.
A unsecured small business start up loan gives you the startup funding you need, but getting a startup business loan can sometimes be more difficult than it seems. Most lenders today require collateral for small or large start up business loans, but collateral may be something you have never thought of before. When you obtained a mortgage, your home served as the collateral. When you got a car, the vehicle was the collateral. But when you're seeking a new business loan, you probably don't have the commercial collateral you need yet. Your only option then is to offer your personal assets as security for the loan-which is a risk you understandably may be hesitant about.
Collateral is often the biggest obstacle to the prospective business owner. Not only does a new business not yet have any commercial collateral to provide; but it is asking a lot for an entrepreneur to put his hard earned personal assets at risk in order to start a new business venture. Yet, without collateral, getting a unsecured business loan can sometimes seem impossible.
The good news is, though rare, some companies have specialized programs for exactly this scenario. An unsecured business start up loan can get a new business owner the funding he needs to cover initial business costs, without having to provide collateral and place his or her assets risk. With this type of financing plan, the lender utilizes something the borrower has worked hard for and should be able to take advantage of - his good credit. With this approach, the lender can still an unsecured business start up loan at great rates and with a variety of programs.
The small business loan application process can also be made difficult by the imposition of restrictions on how the loan proceeds can be used. This takes away the borrower's freedom to use the funds as he or she may have seen fit. You can escape these hassles by using an online application for a unsecured small business loan.
Today, web lenders offer a new window of opportunity for small businesses and individuals that need a fast start up loan approval process. Time is money! Lenders now offer cash in as little as 72 hours, with no tax forms, no business plans, and no collateral! Such lenders offer the straightest line to unsecured business loan funding, at great rates. In the modern world, financial products as efficient and dynamic as the business world must be available.
Applying for a unsecured small business loan is easy, all the business owner need to do is just go on line and submit their loan details. Then the lenders will refer back to you with the loan decision in a few days.
Wardell Brooks is a current unsecured small business loan analyst for America Funding Network. He has been working in the financial sector for several years. His experience includes banking, mortgages, and sub prime
Once you've done this, you will realize the significance of unsecured start up funding. Rarely does an individual have the savings or personal resources to put a business plan into action completely on their own. Often, even when one thinks this is the case, deeper development and planning dissuades this initial thought.
Small business funding can be a rather involved subject, filling shelves upon shelves of books at libraries and bookstores. The truth is though, you don't need a how-to book to get good funding. You simply need a good lender. Being able to determine once is what really counts.
A unsecured small business start up loan gives you the startup funding you need, but getting a startup business loan can sometimes be more difficult than it seems. Most lenders today require collateral for small or large start up business loans, but collateral may be something you have never thought of before. When you obtained a mortgage, your home served as the collateral. When you got a car, the vehicle was the collateral. But when you're seeking a new business loan, you probably don't have the commercial collateral you need yet. Your only option then is to offer your personal assets as security for the loan-which is a risk you understandably may be hesitant about.
Collateral is often the biggest obstacle to the prospective business owner. Not only does a new business not yet have any commercial collateral to provide; but it is asking a lot for an entrepreneur to put his hard earned personal assets at risk in order to start a new business venture. Yet, without collateral, getting a unsecured business loan can sometimes seem impossible.
The good news is, though rare, some companies have specialized programs for exactly this scenario. An unsecured business start up loan can get a new business owner the funding he needs to cover initial business costs, without having to provide collateral and place his or her assets risk. With this type of financing plan, the lender utilizes something the borrower has worked hard for and should be able to take advantage of - his good credit. With this approach, the lender can still an unsecured business start up loan at great rates and with a variety of programs.
The small business loan application process can also be made difficult by the imposition of restrictions on how the loan proceeds can be used. This takes away the borrower's freedom to use the funds as he or she may have seen fit. You can escape these hassles by using an online application for a unsecured small business loan.
Today, web lenders offer a new window of opportunity for small businesses and individuals that need a fast start up loan approval process. Time is money! Lenders now offer cash in as little as 72 hours, with no tax forms, no business plans, and no collateral! Such lenders offer the straightest line to unsecured business loan funding, at great rates. In the modern world, financial products as efficient and dynamic as the business world must be available.
Applying for a unsecured small business loan is easy, all the business owner need to do is just go on line and submit their loan details. Then the lenders will refer back to you with the loan decision in a few days.
Wardell Brooks is a current unsecured small business loan analyst for America Funding Network. He has been working in the financial sector for several years. His experience includes banking, mortgages, and sub prime
Creative Tips to Obtain Business Finance
Creative tips to obtain business finance focuses on strategies to acquire capital, which is a vital component for the success of any commerce. Irrespective of whether a firm is in proprietorship or a big organization, finance plays an important role in its development.
Below mentioned are some creative tips to gain business finance. These tips enable the individuals to spark the creative thought-process and obtain the capital required to promote the business.
Useful Hints:
Formation of Strategic Partnerships:
To understand this, individuals have to consider the following concepts.
Find who is reaching the customer or client base. Find out who offers the services or products that benefit the customers or client base. Examine which firm has better business skills or expertise.
All these units will make great potential partners. After identifying such strategic partners, design a fifty-fifty partnership. A prospective partnership can help to achieve sales force, accounting, IT, marketing, and management expertise. These are just a few of the services that entrepreneurs require to pay for.
Barter System:
A business sells products or services that somebody requires, and hence it is in existence. A company can very well barter these services or products to obtain those things that are required by the business to grow or serve the customers.
A firm can also barter for personal things required typically, for which funds have to be withdrawn to pay for. Business can barter for, rules, advertising, accounting or travel services, landscape, television cleaning services and many more.
Go for Strategic Investors:
A business can also obtain finance by finding strategic investors. Firstly, a small venture needs to find out, whether its products or services are directly benefiting a larger organization or not. If yes, then it is better to contact them immediately.
The small venture has to convince the larger company that their products or services have the potential of positively influencing their trade. This way, a firm can obtain finance by the means of direct equity, loan, or prepaid contracts. A company has to search for strategic investors, and there is no dearth of them in the market.
Tap the Suppliers:
If the firm plans to expand its business rapidly and require capital to pay for supplies, then they can ask the suppliers to provide advance payment.
When the business expansion contributes to a substantial portion of the annual receipt of suppliers, the firms can request the vendor to offer a yearly or two-yearly period loan by highlighting the vendor's benefits. Thus, it is fine to negotiate for at least three months payment deal.
Seller Finance is a good option. None other than the person, who sells the business, knows its true asset. Check out seller finance for overall commercial development by purchasing other businesses. Offer them rights against the business to revert their sale incase of a firm's default.
It decreases the risk of company's hidden problems and greatly helps the business owner to set up another challenging venture.
Below mentioned are some creative tips to gain business finance. These tips enable the individuals to spark the creative thought-process and obtain the capital required to promote the business.
Useful Hints:
Formation of Strategic Partnerships:
To understand this, individuals have to consider the following concepts.
Find who is reaching the customer or client base. Find out who offers the services or products that benefit the customers or client base. Examine which firm has better business skills or expertise.
All these units will make great potential partners. After identifying such strategic partners, design a fifty-fifty partnership. A prospective partnership can help to achieve sales force, accounting, IT, marketing, and management expertise. These are just a few of the services that entrepreneurs require to pay for.
Barter System:
A business sells products or services that somebody requires, and hence it is in existence. A company can very well barter these services or products to obtain those things that are required by the business to grow or serve the customers.
A firm can also barter for personal things required typically, for which funds have to be withdrawn to pay for. Business can barter for, rules, advertising, accounting or travel services, landscape, television cleaning services and many more.
Go for Strategic Investors:
A business can also obtain finance by finding strategic investors. Firstly, a small venture needs to find out, whether its products or services are directly benefiting a larger organization or not. If yes, then it is better to contact them immediately.
The small venture has to convince the larger company that their products or services have the potential of positively influencing their trade. This way, a firm can obtain finance by the means of direct equity, loan, or prepaid contracts. A company has to search for strategic investors, and there is no dearth of them in the market.
Tap the Suppliers:
If the firm plans to expand its business rapidly and require capital to pay for supplies, then they can ask the suppliers to provide advance payment.
When the business expansion contributes to a substantial portion of the annual receipt of suppliers, the firms can request the vendor to offer a yearly or two-yearly period loan by highlighting the vendor's benefits. Thus, it is fine to negotiate for at least three months payment deal.
Seller Finance is a good option. None other than the person, who sells the business, knows its true asset. Check out seller finance for overall commercial development by purchasing other businesses. Offer them rights against the business to revert their sale incase of a firm's default.
It decreases the risk of company's hidden problems and greatly helps the business owner to set up another challenging venture.
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