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The Lucrative Way To Start An Insecticide Production Company In Nigeria

Ossi Samuel

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insecticide production company

The Lucrative Way To Start An Insecticide Production Company In Nigeria

Starting an Insecticide production company can be a very good business idea. Insecticides today are found in virtually every home in Nigeria. It can even be said to have the same frequency and utility in homes as normal home provisions (milk, sugar, butter, cheese, beverage, soaps, and detergent et al).

It is used to kill and totally eradicate all unwanted and disease-causing insects in and around homes, offices, schools, hotels, restaurants, and other public places. The implication of the above assertions is that the market for insecticides is very large.

Related: How to start virtual data room business in Nigeria

Insecticide Production Company should be considered very keenly as an option if you want to start a business as an entrepreneur and you are targeting a business that can survive in any geographical location. It will interest you to know that insecticides are also used for agricultural purposes thereby enlarging the already wide market.

Good news for you! Can I see you smile a bit? That is good. Starting an insecticide production company is not a high capital intensive business. It is however very lucrative. This is possible when you penetrate the market. You are definitely going to face stiff competition in the market since there are already existing brands. Your creativity should see you through though.

Related: how to start e-mail marketing business in Nigeria

I’m assuming you are considering this business idea seriously; therefore I will help you with tips that will be of the essence when you start your own insecticide production company anew. This will help you build it to a profitable state within the shortest time frame.

Also read: How to start a tomato processing plant in Nigeria

Tips on starting an insecticide production company in Nigeria

  1. You need to undertake a feasibility study

This is not just about starting an insecticide production company but about starting any business at all. You have to carry out a feasibility study or market survey to assess the practicability of the proposed business before you fully resume.

It gives you firsthand information on what is required to start up your company, the likely competitions you will face, how to source for raw materials and safety and health measures needed for success.

  1. Put up your business plan

The business plan is an essential part of starting an insecticide production company. It is a document that guides you in setting up and running the business. It is your business blueprint; a roadmap that clearly outlines your goals, objectives, and strategies.

It is important you know that if you are thinking of a long-lasting business, you will have to put up a very comprehensive business plan or get experts to do it for you. It allows you easy access to loans and investors.

  1. Register Your Business and Obtain the Required License

This industry referred to as the Agro-allied / chemical manufacturing industry is overly regulated. This is to prevent the proliferation of fake and substandard goods. It is therefore important to have your insecticide production company registered with the appropriate authorities.

After the registration, you can proceed with getting the required license so that you can go into production without fear.

  1. Get a facility and buy the necessary equipment

Some locations are not allowed for the setting up of insecticide production companies because of the toxic nature of the industry. Resultantly, you are to situate your company in a place that will bring little or no harm to people.

You are also to acquire the necessary equipment for your company so that you kick start immediately.

  1. Hire Employees

You will need people to work for you. You need both skilled (lab scientist et al) and unskilled (factory workers) in your insecticide production company. Your budget has to include money for salaries. You might have to make some money available for the salaries as the profits might not come until after six months.

  1. Pay Attention to Your Packaging and Branding

The packaging is everything in the business world. When you start an insecticide production company, you are going to discover that there are many other brands in the market that you will have to compete with. You need to be ready by having a brand that is innovative and creative. You must have a well-packaged brand to be able to compete.

The essence of doing this is to meet peoples’ demands. Beyond the obvious quality of the content, the container has to be presentable. It is just that way otherwise you lose customers or worse still, you fail at attracting customers.

  1. Create Your Market

Before you ever thought of starting up an insecticide production company, there were already existing companies. The implication is that for you to succeed here, you have to work hard at creating your own market. You must devise creative means of penetrating the market and building a loyal customer base.

You may start with neighborhood supermarkets and you could employ sales rep to help you take your products to the streets via roadshows et al. You just have to know that the most important thing is to first secure a market, no matter how small it is as long as you supply your product steadily, you can build it up from there.

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How To Grow Your Side Hustle Into A Big Business In Nigeria

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turn side hustle into full business

Did you know that a lot of big businesses in Nigeria today began as side-hustles? With the advent of the internet, it is now possible to have both a side hustle that could bring you a lot of money and a full-time job at the same time.

So, what is a side hustle? A side hustle is basically a business you do part-time while retaining your full-time job. Sometimes, a side hustles has the potential of becoming a full-time business.

Having a side hustle, apart from giving you an opportunity to make extra money for yourself, can also be a good way to spend your leisure. However, turning a side hustle into a big business in Nigeria is not devoid of several challenges. So, I decided to dedicate a section of this discussion to address some of these challenges and the way forward.

Converting A Side Hustle To A Full, Big Business In Nigeria: Challenges and The Way Out

In Nigeria, our educational system teaches mostly theory and almost nothing about money or entrepreneurship. So, you’d have to educate yourself on what the education system failed to cover. Besides the faulty education system in the country, there is this misconception in the society that one always needs to have huge capital before starting a business. Well, that is not true most of the time.

Another fad that is widely circulated is that Nigerian banks do not grant loans to businesses that are just starting out. Well, you have to understand that money is attracted to fresh, new ideas and most Nigerian banks are open to helping such ideas to grow. However, in the absence of external aid, you can generate capital for your business from your savings; get a loan from family, friends, your religious circles and well-wishers. Interestingly, today you can easily save money with Sumobank and use it to finance your business startup.

As regards saving, a good book which can assist you is, “The Millionaire Next Door”. It is a classical book which teaches savings and how to survive below the income level.

Finally, there is this challenge of over-dependence on salaries or regular income without due consideration of how to grow that income. It is the mistake of one working for money instead of making it work for him or her.

These are all unique challenges any Nigerian must overcome when trying to diversify income by turning a side hustle into a big business in Nigeria.

5 ways you can overcome these challenges are:

  1. Educate yourself on finance and how to multiply money.
  2. Make your money to work for you
  3. Create an emergency fund.
  4. Start and grow a business.
  5. Collaborate with business partners.
turn side hustle into full business

A lady working to turn her side hustle into a big business

Want to turn your side hustle into a full-time business? Read the 5 important tips below.

  • Design a Solid Plan

You cannot simply abandon your full-time job for your side hustle when you have no solid plan in place. You need a plan that outlines how your business will operate once it is fully functional.

Your plan should incorporate your business’ vision and mission statements, your business values, and the goals which you have in mind to achieve in your proposed business. Outline what your business would accomplish within the first 90 days of setting it up.

  • Make Everything You Can Automatic (i.e., Automate the Operations)

Today, you can find an app on the internet for handling any aspect of your business. Automating as many things as possible would give you free time to handle other tasks that could bring you much money since you have a limited time at your disposal daily.

So, from the set-go, acquire the necessary tools which would help you to automate your side hustle into a full-time business. You can use Buffer or Hootsuite, for example, to automate your social media posting and Canned Responses from Gmail to send out recurring mails.

  • Create More Leads 

Creating more leads for your business is the quickest way to grow your business and generate a favorable cash flow system for yourself and your business. So, invest a good amount of your time and energy in publicizing your business to get more leads (i.e., contacts – phone numbers and emails) who would sooner or later become paying customers. One way to do this is to create and distribute a lot of quality contents which will attract potential customers to your business.

One way you can do this (i.e., create content) is to start a blog and use it to reach your potential customers. This would give you the opportunity to build a customized email list for your business which you can use to push out (i.e. publicize) your new products, offers, and services.

  • Take Advantage of Freelancers.

Freelancers can help you to have an incredible amount of free time by helping you perform some heavy lifting in the business. Delegate some tasks and outsource them to freelancers and have a budget ready for their payment every month.

You can give them tasks like developing your blog content and managing your social media platforms while you handle the critical aspects of your business.

  • Create and Follow Your Schedule Religiously.

You must have a schedule with which you run the day-to-day activities of your business. This would really help your business to grow rapidly. You do not want to put too little or too much time into your business. So, create a schedule that would point out your working hours, what you do each time and the expected results.

It is not enough to have a schedule. You must endeavor to follow it to the letter to achieve success at the end of the day.

Conclusion

Everything is possible in life with hard work and determination. Anybody can begin from anywhere, even the lowest bottom and climb to the top.

In life, one essential asset you always spend but can never recover is time. So, time management is very important if you want to grow your business and you can do this with automation software. Besides doing things faster and precisely, automation helps to cut down on the time which could be wasted handling recurring tasks.

Are you involved in any side hustle or thinking of starting one soon? Let me know in the comments’ section of this blog. Thank you for the audience.

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7 Stupid Mistakes Young Nigerians Make That Is Destroying Our Generation

Gudtalent Chrisent

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mistakes of young people

There has never been a more woke generation like this current one and the behavioral trend is only getting worse that if nothing is done about it, i wonder what the next generation will look like.

This is African and what works in this part of the world is different from what works in the western world.

Today, I’m sharing with you the 7 mistakes young people in Nigeria are making that won’t result to anything good by Mildred Kingsley Okonkwo.

Related: Money mistakes you should avoid

In her video, she mentioned 7 dilapidating mistakes a lot of young Nigerians are making and it will shock you to see that you’re guilty of one or two if now all of them.

Kindly watch the Video below and do share.

Let me know your thoughts in the comment section.

Also read: My 2050 predictions

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Business Growth In Nigeria: 10 People Who Will Destroy Your Business

Gudtalent Chrisent

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Business Growth

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