Category: Entrepreneurialism


5 Common Entrepreneur Mistakes

November 27, 2017

Entrepreneurialism

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What Not to Do

It takes time and money to start a new business. Entrepreneurs work hard to get customer or prospects. And given the amount of work and money that is spent getting visitors to your company storefront or web site, it is amazing how difficult it is to keep visitors on site. In fact, studies show that visitors give you less than 10 seconds for them to decide whether to stay on your web site, explore and (hopefully) buy or perform the most desired action (MDA), like opting in for a free newsletter. Yet, many site owners and entrepreneurs – especially site owners who design their own sites – throw a number of stumbling blocks in the path of the visitor on the way to performing the MDA. And what is worse, many entrepreneurs make these common mistakes, which can actually prevent their businesses from succeeding.

Here are some rules to follow if you DO NOT want your new business to be successful.

Avoid these entrepreneur mistakes.

1. Growing too quickly.

Growing too quickly can be just as dangerous for a new business as moving too slowly. Expansion should only be done to meet the demand of the product, not simply for the sake of growth. It takes time, resources, and more, to develop a new brand or location, which takes away from the successful existing ones. For this reason, it is very important not to grow too quickly.

At times it is much better for the small business just to sit back and build up their capital, instead of borrowing money to try to grow too quickly. The rule should be quality over quantity… always. Make sure you provide the best possible service or product for your existing customers, and can do so for new ones before expanding.

2. Not staying ahead of the competition.

This should be right on the top of your list of things to do. If you don’t blaze the trail, then you are simply following others. One of the issues which can really hurt your business is not taking notice when a close competitor makes an announcement or launches a new product. If competition has a policy that makes it more convenient for your customers to do business with them instead of you, take notice. Always pay attention to the market and make adjustments to your business model. One of the benefits of being a small business owner is having the ability to easily adjust to new market conditions. Do not lose touch of that advantage because it could cost your business in terms of sales.

3. Not being careful with whom your hire.

Small business owners need to be very careful whom they hire and employ. Each person working for your business should benefit you in some way. Character and a willingness to work hard are sometimes more important than education, experience, or even pay scale. More often that not, the employees who have degrees and experience will slack off, feeling that they no longer have to work as hard. Pay very close attention to the new guy or girl at the bottom your organization.

4. Not realizing that working hard is a benefit.

Many business owners think that if they go into business for themselves, they can hire people to put in the forty hours a week and then they themselves can just take it easy and let the business run itself. Unfortunately, it does not work that way. The majority of successful business owners actually work more hours than their employees, and do much more because if the person at the top slacks off, the entire organization will slack off.

5. Not maintaining an interesting web site.

More often than not, a well-designed and correctly developed web sites is just that — well designed and correctly developed. But the content does not change. Visitors to your web site are there for one major reason — because you have interesting content. So, remember, that an online entrepreneur always has to provide users with interesting and helpful information on a blog. Also, keep in mind that content of a blog should be updated regularly. Provide users with interesting posts, contests and polls on a consistent basis. The main task of an entrepreneur is to return users back to his blog again and again.

What about your business website needs? Website hosting firms that are professional, experienced and low-cost are not easy to find. The low-cost part is, but professional as in “green hosting” is not something that is really easy to find. Yes, there are many web hosts that pretend to be green. But be sure to check their resume before selecting them as your online partner.

It takes time, effort and marketing dollars to get visitors to your web site, to build a brand, and develop a successful small business. Don’t scare away prospects by making design goofs.

How to Make Money Making Homemade Yogurt

November 27, 2017

Entrepreneurialism

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The demand for yoghurt within Kenya has been steadily rising since 2009. Despite this the market still stands under supplied. This is one area if well invested in, can make money plus profits monthly. The best thing about yoghurt is that it can easily be made from home.

There are many ways of making yoghurt at home. If you want to make money from homemade yoghurt you need to consider the different options to coming up with the right product. Starting at home doesn’t need much capital contrary to the belief, with as low as Kshs 15,000 you can start with the first production. You will need to invest in good kitchen ware like high quality sufurias and air tight containers to be used for storing your yoghurt. For packaging you can start with the disposable plastic cups sold in supermarkets that go for Kshs 250. A fridge would play an important role in preserving the yoghurt.

There are two main ingredients used to make yoghurt. Fresh raw milk and yoghurt extract. Fresh milk used to avoid infections. A litre of milk is Kshs 40 at the farm; you need not buy lots of milk because a litre of milk can produce a litre of yoghurt that can be sold at Kshs 220. As for the extract any type of plain yoghurt can be used from the supermarkets after which the leftover yoghurt from your first batch should be used for the next production. Other things needed include an oven or any other source of heat that can be used to keep the yoghurt warm, a whisk, thermometer that can measure up to 50.

First you need to ensure your hands are clean other than your sufuria and storage containers. Pour your milk in your boiling pan and stir continuously using the whisk to prevent the milk from pouring out the pot as is usually the case when milk boils. When the milk has reached 85˚c, you can let it cool to about a temperature of 45˚c before adding the yoghurt extract, preferably three scoops. This specific temperature needs to be achieved because it allows for the activation of bacteria in the extract to work on the fresh milk. Stir the extract into your milk. You can then pour the milk into your storage containers. Yoghurt usually settles best in small containers rather than big ones. Pour the yoghurt in the air tight containers and put them in a big bowl of hot water that reaches the same height as the yoghurt in the containers. This helps to keep stable the temperatures and avoid burning.

The yoghurt should then be kept in the oven for 2-4 hours at about 49 until the culturing process has taken place and achieved the desired taste. If you don’t have an oven then a small cooler box with added warm water can be used to maintain the temperatures for culturing to take place. At this point it needs to be kept in the fridge to allow for settling as it is still too liquid. Let it settle for 4-6 hours and then it would be ready for consuming with the right thickness to it.

The next step would be to get your product out into the market in order to make money. Start by packaging them in 250 ml cups and sell them at Kshs 55. You can decide to walk with your product or advertising it to your neighbours who will in turn tell others and

steadily you will have a stream of customers. If you make 10 litres of yoghurt in a day and sell all of it at Kshs 220 per litre you will be making a profit of above Kshs 1000 in a day. In a month you’ll have profits of up to Kshs 25,000 minus the expenses to reinvest into your business. You can expand your market by delivering your product to neighbouring kindergarten schools and local shops around you.