Inspiring, informing and motivating you to launch a successful business.

1. Capacity Building
Seminar Presented
at The University of
Mkar, Benue State

2. Title: How To
Start and
Finance a Small
Business

3. Presented By
Chinedum Azuh

4. Getting Started
Is business ownership right for you?
An “entrepreneur” is a person who starts
his or her own business
Self-assessment questions:
– Are you a self-starter?
– How well do you plan and organize?
– Can you work long hours?
– How will the business affect your family?

5. What Type of Business
Do You Want?
A startup:
A startup:
– Follow your own dream
Buying an existing business:
– You will have current customers and a
known track record of performance
Franchising:
– Brand recognition reduces marketing
costs

6. Questions to Ask When
Starting Up A New Business
 Does the idea suit your personality and interests?
 Will you use your own name to brand the
business?
 Will it be financially viable?
– Do you have startup money to invest?
– What will your monthly expenses be?
– Is there a current need in the marketplace?
– Who are you competing with?

7. The Business Plan
A “business plan” is a roadmap that
describes where you’re going and how
you’re going to get there
A guide to achieving your goals
A tool to spark investors’ interest
A document that helps employees
understand the company’s mission

8. Key Elements
of the Business Plan
Description of your products and services
Market and industry analysis that demonstrates
the need for your business
List of competitors, including their strengths
and weaknesses
Marketing strategy (sales approach)
Management team and operations plan
Financial analysis: the investment needed

9. Test Your Business
Idea Before You Invest
The greatest mistake you can make is to
launch a new idea without testing it. Many
millions of Naira every year on products
they did not test before introducing them to
the market. Though entrepreneurial life is
full of risky adventures but what we shall
be discussing is how to take calculated risks.

10. Steps To Testing
Your Business Idea
Be Your Own Devil’s Advocate
Seek Out People in The Same Business
Confirm The Demand
Check With Family & Family
Create a Selling Promotion
Use The Seminar Approach

11. Marketing Plan
 A “marketing plan” serves as a blueprint for you
to follow to get your products and services
known and recognized. It has:
– Competitor and issue analysis: challenges and
opportunities facing the business
– Objectives: What do you want to achieve?
– Action program: A “to-do” list
– Budget: Detail expenses
– Strategy: The Four “P’s”

12. Name Your
Business
What is in a business name? The right
business will distinguish you from a sea of
multitude of competitors, give your
customers a reason to patronize you, and
help in the branding of your company.

13. Register Your Business
Starting a small business requires the usual
paperwork and registration.
Corporate Affairs Commission (CAC) is
responsible for this. But for a startup you
might not really need to incorporate. A
business name registration will do. Getting
a business name registration will enable you
to create a corporate account.

14. The Four P’s of
Marketing
Product: Describes features and benefits
Price: Lists prices and pricing strategy
Promotion: Tools or tactics to achieve
marketing objectives
Placement: Sales philosophies and methods

15. Licensing
 Licenses or permits are required to operate
certain types of businesses
 One or more licenses may be required from the
city, State, county, and/or Federal Government
– You may need multiple licenses if you work in
more than one jurisdiction
 Failure to obtain the proper licenses can result in
fines or the loss of your business
 The application process varies according to
jurisdiction; research the requirements in your
area

16. Copyrights, Trademarks,
and Patents
Copyrights, trademarks, and patents all
deal with intellectual property and how to
protect it
“Intellectual property” is a product based
on an idea and it has some type of
commercial value
Intellectual property includes a wide range
of products, such as books, musical
compositions, and works of art.

17. Copyrights
 Copyrights protect individual creative
expression. The Federal Copyright Act of 1976
specifies how to register a copyright; there are no
State copyright laws
 If a work is in the “public domain,” anyone can
use it without permission from the author or the
author’s heirs
 The U.S. Copyright Office explains how to
register literary works, visual art works,
performance works, sound recording, serials and
periodicals, and mask works

18. Trademarks
A “trademark” is a brand name--a
distinctive sign, logo, slogan, symbol, or
other emblem used by businesses to
distinguish their products from others
Trademarks do not expire and can apply
indefinitely
Although trademarks can be registered, it is
not required; just using a mark establishes
a common law right to it

19. Patents
A “patent” gives an inventor exclusive
use of his or her invention
Patents are issued by the United States
Patent and Trade Office (USPTO)
Most inventors use a patent lawyer to
help with the application process

20. Accounting
Sound accounting and bookkeeping
practices are essential to any business
Many businesses rely on an accountant
to handle financial recordkeeping
Computer programs such as Quicken,
Peachtree, or Quickbooks can simplify
some bookkeeping tasks

21. Human Resources
The Human Resources function deals with
hiring and managing employees
Be specific when interviewing candidates
– Avoid inappropriate and illegal questions
during the interview
Provide competitive compensation and
benefits
Maintain detailed employee records

22. Creating an Online
Presence
A Website can attract customers and boost
earnings
Sales through the Internet can take place
internationally, 24 hours a day
A professional Website designer can
develop your site at a relatively low cost
Promote your site through major search
engines or a link exchange program

23. Creating an Online
Presence
 Put Your Business on Social Media: Facebook,
Linedin, Tweeter etc.
 Write Articles and Publish on Article Directories
Like Ezine, Hubpages and Many More
 Create a PowerPoint Presentation of Your
Business and Post it on a Site Like Slideshare.net
 Create an E-book and Publish it Amazon Kindle,
Smashword etc.
 Participate in Online Forums and Blogs Related
to Your Business.

24. How To Raise Money To
Start Your Business
There are several sources of money that you can tap
to start and build your own business. I have
compiled a list of creative ideas I have heard and
used.
1. Joint Venture
2. Dip Into Your Savings
3. Sell Some Assets
4. Get Love Money
5. Obtain Supplier Financing

25. How To Raise Money To Start
Your Business
6. Online Crowd Funding
www.kickstarter.com, www.indiegogo.com or
www.RocketHub.com and www.vfinance.com.
7. Sell Other People’s Stuff for Commission
8. Sell Information Products Created from Your
Expertise
9. Take an Extra Job
10. Get a Business Advisory Coach

26. Thank You
for
Listening !

27. Direct Contact
Mobile: 08032069925
pstchinedum@gmail.com