HOW TO ACQUIRE MONEY MAKING SKILLS AND TURN THEM INTO SUCCESSFUL BUSINESS.

INTRODUCTION.

With all the talk about how the ever-rising army of the unemployed in Nigeria, some public affairs analyst have looked at the other side of the coin and concluded that the majority of the unemployed are actually unemployable due to lack of skills that can solve human everyday problems and in turn bring them an income. It is even more embarrassing when we consider the number of graduates who after acquiring degrees from various tertiary institutions are also roaming about the streets in search of jobs that are not there. Many have even joked of how our graduates of roadside mechanics can fix cars but degree holders in engineering cannot. Experts have stated that the key to never become a part of the unemployment figures is to acquire practical skills that can be turned into a business venture.

In her option, Mrs. Favour Emenike, Chief Executive Officer of Dabex Skills Development Centre, a skill acquisition training centre in Lagos, said that acquiring skills is one sure way to not only make a profitable living but to become an employer of labour. She delves into the reasons for her centre and how even entrepreneurs can acquire additional skills to enhance their businesses or open new ones.

 

WHAT SKILL ACQUISITION IS ALL ABOUT.

 

It’s all about empowering people with the special and practical knowledge of producing or doing certain things effectively and in a way that others will be ready and willing to pay for the knowledge. Learning the skills will offer prospective entrepreneurs the opportunity of establishing and managing their own businesses. It is essential for an entrepreneur to learn how to produce different household products such as Candles, Liquid Soaps, Bar Soaps and various other products that you can see in the market.

 

WHY AN ENTREPRENEUR NEED SKILLS.

1.     An entrepreneur needs these skills so as to add value to the society since the society is in need of almost all the products we are teaching them. Most of these products that we teach them to produce are daily need products (Cold Starch, Stove and Lantern Wicks etc.)

2.     The skill acquisition will also enable them to know the direction of business to go into since they have known the formulas, ingredients and every necessary materials and equipment needed for the product by virtue of the skill acquisition training.

 

KEYS TO LEARNING THE RIGHT SKILLS ARE:-

 

1.     TARGET HUMAN NEEDS- To acquire the skills that you can turn into a lucrative business, you need to consider things that are needed by almost everyone and anyone. You are in a good business if you acquire the skills to make Candles, Soaps, Wicks and other things. It is apparent that human needs are insatiable and these products will be on demand, meaning that with your products, if well marketed you will always have customers.

 

2.      LOCATING THE NICHE-A niche is the subset of the market or sector on which a specific product is focusing on. A niche defines the specific product features aimed at satisfying specific market needs, as well as the price range. Production quality and the demographics that is intended to impact. There are new ways to do same things and by learning a new way of doing same thing, you can bring freshness and a better way of doing things or changing old things. Rather than focus on everything about carpentry work, when a carpenter decides to specialize only in settees, chairs, tables and other range of furniture, this is a niche. Or he can decide to focus on office furniture alone and seek for ways to improve them and supply the furniture to the offices. This is a niche area and it is applicable to other areas.

 

3.     GETS THE RIGHT TRAINING-For a particular skill or business you want to go into, you will have to go for training so as to posses the much needed knowledge that’s required in the business. Get all the ingredients that are needed for the business i.e. all the things that are needed to succeed in the business. An entrepreneur who is well trained in his area of skill, is well equipped and knowledgeable enough about that particular area and as such, can reach the top of the ladder financially since he understands the various technicalities that are involved in the area and how to tap the enormous resources that is associated with the particular area of production or service.

 

4.     LOCATION-Get a good location to locate your business based on the need of the area. For example, if you acquire the skills and establish your business of Carpentry, Painting, and Fumigation etc. around the newly developed areas, you are surely going to have lots of demands for your services. Another instance is when you learn how to produce different ranges and flavours of ice creams, in doing this, you must consider whether you are producing for children or adults; that will determine your choice of location. Also in choosing a location, you will consider its nearness to Electricity Power Supply, Water Supply, Access to Good Roads and Urban Nature of the site or location of your business. After your acquisition of the skills for a particular business, your choice of a location as an entrepreneur can make or mare the growth of the business. For profit maximization, some business personnel can start from within their environment like the case of Oluwafisayo Oyediran who is using her property to do poultry farming business.

 

5.     MARKETING-You as an entrepreneur, is expected to have a versed idea / knowledge of marketing i.e. getting to know how best to sell your products by creating friends and having a good public / marketing relationship. A broad knowledge and training in the areas of marketing by an entrepreneur enhances growth in business of skills development you must have a very good sense of customer relationship. This will help you to retain them in the course of your business. Good customer relationship is the key to a successful business growth.

 

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