WHY YOU SHOULD STOP LEARNING (And Start Implementing) |BNM #10|

WHY YOU SHOULD STOP LEARNING (And Start Implementing) |BNM #10|

“Oh my God, I am not ready”

“I don’t think I know it all yet”

“I think  need to take another course”

 

You Need To Stop Learning … Start  Implementing!!!

 

I have met quite a number of entrepreneurs who feel they are not ready to start implementing what they have learned because they feel they do not know enough…some even say they need to know all before they start.

And I am like lolz..there is no such thing as knowing it all…

If you have however feel unsure of yourself and scared to make a move or you feel threatened by your colleagues in the industry, check this article where I spoke about conquering your fears.

Having gone through this path myself, I have put together some tips that will help you recognize how much you know. Trust me, you know more than you think.

The only way to know that is by implementing. Enough of the learning without implementing.

I know this might not seem to negate the popular sayings such as ;

“When you stop learning, you will stop growing” 

“The more you learn, the more you grow”

 

Before I go further, listen to the podcast below…

 

To be honest, no one can actually learn everything, more so, the best way to learn is by doing. I mean by putting the knowledge you have acquired into practice.

Perhaps you are at this junction and still feel you need to learn more, then you need to listen to this podcast as many times as possible. Reflect on the tips discussed and see how you can start testing your abilities.

 

Business Nugget By Martwayne

 

A podcast series of short entrepreneurship tips that will help kickstart or grow your business and help you on your entrepreneurship journey. Each episode is created to help you turn your passion to profit and into a viable business.

If you will like to dive deeper into how this works, Subscribe to our YouTube Channel, enable notification to never miss a video!!!

 

<<<<<<<PREVIOUS EPISODE

3 WAYS TO SPOT A BUSINESS OPPORTUNITY |BNM #9|

 

>>>>>>> NEXT EPISODE

HOW TO CLEARLY ARTICULATE WHAT YOU ARE SELLING |BNM #11|

 

3 WAYS TO SPOT BUSINESS OPPORTUNITIES (BNM #9)

How To Spot Business Opportunities (With Case Studies)

 

What if you could look at a pain point you have and then proffer a solution to it. How does that sound?

Fulfilling right?
Yeah, I think so too…

That’s why I have a rather different opinion when advising people on business ideas. Researching the internet is great, no doubt! You need to know what people need, how they need it, where these people are, then your resources, etc. All these are valid.

 

But do you know looking beyond research, you need to consider some other factors? Every of my business ideas was not based just on research, a major WHY, and that why is what has kept me thus far. That’s why I put together some tips on you can spot business opportunities.

 

Trust me it is exactly what you need to listen to. So if you trying to figure out a business to start, especially if it will be your major source of income, then here are three approaches to consider…

Click the podcast to listen.

 

Okay, I am glad you have listened to it, figured out a business opportunity?

Does it relate to a struggle you see in society? A personal pain point?

Then you are good to go!!!

Subscribe to our Youtube Channel for more Business Tips and Tricks.

 

Business Nugget By Martwayne

 

A podcast series of short entrepreneurship tips that will help kickstart or grow your business and help you on your entrepreneurship journey. Each episode is created to help you turn your passion to profit and into a viable business.

If you will like to dive deeper into how this works, Subscribe to our YouTube Channel, enable notification to never miss a video!!!

 

<<<<<<<PREVIOUS EPISODE

HOW TO PAY YOURSELF A SALARY AS AN ENTREPRENEUR |BNM #8|

 

>>>>>>> NEXT EPISODE

 

 

 

HOW YOU SHOULD PAY YOURSELF A SALARY AS AN ENTREPRENEUR (BNM #8)

HOW YOU SHOULD PAY YOURSELF A SALARY AS AN ENTREPRENEUR (BNM #8)

Just in case you haven’t listened to episode 7 of the podcast series, click >>>>HERE<<<<<  to listen because it is a prerequisite ” How You Should Pay Yourself a Salary”

Okay, let’s get into the business of the day.

 

HOW YOU SHOULD PAY YOURSELF A SALARY AS AN ENTREPRENEUR?

 

Now that you have a clear understanding of why you need to pay yourself a salary, we then need to discuss how to pay yourself without feeling guilty.

Sometimes you might feel guilty that you had to take some money from your business. I am here to tell you you don’t need to feel that way provided it is your salary.

That’s why I shared some of the concepts I apply in my business.

Click the video below to listen

 

Instead of taking money from the business account each time you need some money, rather, you should have a payment structure that will help you know exactly how much company money is being paid to you every month.

Payment could be in form of cash or it could even a loan you are giving to the business. Just ensure you keep records of all you do. Let every penny the business owes you reflect in your records.

Consider your taxes, bills, your average spending as well as your employee’s salaries before you decide how much you should keep for yourself.

That being said, tell me which of these concepts you would love to begin with.

 

Business Nugget By Martwayne

 

A podcast series of short entrepreneurship tips that will help kickstart or grow your business and help you on your entrepreneurship journey. Each episode is created to help you turn your passion to profit and into a viable business.

If you will like to dive deeper into how this works, Subscribe to our YouTube Channel, enable notification to never miss a video!!!

<<<<<<<PREVIOUS EPISODE

WHY & HOW TO PAY YOURSELF A SALARY |BNM #7|

 

>>>>>>> NEXT EPISODE

 

 

 

 

 

.

WHY AND HOW TO PAY YOURSELF A SALARY (BNM #7)

WHY AND HOW TO PAY YOURSELF A SALARY (BNM #7)

WHY YOU SHOULD PAY YOURSELF A SALARY AS AN ENTREPRENEUR

 

Ever thought about the value of the time you invested in your business? The money spent and perhaps the compensation you deserve?

Do you, for instance, cut your own salary when there is little or no cash flow? Yet ensure all your employees get paid, rent and taxes as well. Honestly, I agree that sometimes it is just unavoidable, but it doesn’t have to be the default payment structure in your business.

It probably never occurred to you that failing to pay your own salary is not being selfless neither is it being smart. Some schools of thought advise start-up entrepreneurs not to pay themselves a salary for a period of 6 months. While I understand their point of view but do not agree it is the best approach.

In fact, it is unsustainable and should be considered a last resort. You need to realize you are running a business and if you keep skipping your own salary, how then do you achieve your business goals?

Thinking the business is doing so well forgetting that you have not considered your own payment.

 

Episode 7 of Business Nuggets by Martwayne was made to address some questions you need to think about. Which might help you understand the need to pay yourself a salary.

 

Consequently, the 8th episode of this series will be on “How To Pay Yourself a Salary”

 

Click the podcast below to listen.

 

Some of those questions are;

⇒ How much is my business owing me in salary?

⇒ Have I really thought about the time invested in the business?

⇒ What do I need to consider before I consider a third party?

At the end of this episode, you will know why your business needs to be able to pay you some stipends no matter how little it is. Consequently, you will decide what to do it. Spend it? Invest it into the business? Totally up to you!.

Take note, it is a business and if you had hired someone else to do the task, you would have to pay the person anyway…You derve to be compensated for your hard work!!!

 

Business Nugget By Martwayne

 

A podcast series of short entrepreneurship tips that will help kickstart or grow your business and help you on your entrepreneurship journey. Each episode is created to help you turn your passion to profit and into a viable business.

If you will like to dive deeper into how this works, Subscribe to our YouTube Channel, enable notification to never miss a video!!!

 

<<<<<<<PREVIOUS EPISODE

WHY AND HOW TO DELEGATE WORK EFFECTIVELY

 

>>>>>>> NEXT EPISODE

HOW YOU SHOULD PAY YOURSELF A SALARY AS AN ENTREPRENEUR |BNM #8|

 

 

WHY AND HOW TO DELEGATE WORK EFFECTIVELY (BNM #6)

WHY AND HOW TO DELEGATE WORK EFFECTIVELY (BNM #6)

Why You Need To Delegate Work Effectively In Your Business

 

“Only I can do it” “No employee can do it better!” Made these statements before? News flash……You will burn out! Yes, I said it! You need to see why it is necessary to effectively delegate tasks to your employees.

If you can’t set a structure for your business such that it can run smoothly in your absence, then here is a wake-up call! This article can help you plan your week ahead.

Honestly, I used to have that notion as well. I felt I was some sort of wonder woman. Until reality struck and I literally broke down due to stress.

Think of it this way, are you making money so you can live the kind of life you deserve or you just want to make money so you can keep spending it on medications?

Click the video to listen and then carefully analyze how you have been running your business.

 

What differences would you start making at work?

You do not need to break down before you make adjustments and that’s why I am here to tell you why and how to delegate tasks in your business.

So if you are ready to face the fact, trust people and accept that they can do it even better than you.

And by so doing, you are giving them an opportunity to learn and get better. In turn, you can channel your time to other aspects of the business such as planning, networking, strategizing, and so on.

Business Nugget By Martwayne

 

A podcast series of short entrepreneurship tips that will help kickstart or grow your business and help you on your entrepreneurship journey. Each episode is created to help you turn your passion to profit and into a viable business.

If you will like to dive deeper into how this works, Subscribe to our YouTube Channel, enable notification to never miss a video!!!

<<<<<<<PREVIOUS EPISODE

HOW TO GET CUSTOMERS TO FIND YOU |BNM #5|

 

>>>>>>> NEXT EPISODE

WHY YOU SHOULD PAY YOURSELF A SALARY |BNM #7|

 

THE 3 STAGES OF A BUYER’S JOURNEY |Fashion Consumer

THE 3 STAGES OF A BUYER’S JOURNEY |Fashion Consumer

What Is Your Role During The Consideration Stage Of The Buyer’s Journey?

A thorough understanding of the buyer’s journey is an essential part of inbound marketing. You should, however, know the right content to create for your customers since the aim of inbound marketing is to draw potential customers to your digital channels. 

 

A Buyer’s journey is the path taken by a potential customer on

his/her way to purchase a product.

The paths taken by your potential customer are somewhat similar to building a relationship. It certainly would look awkward if a guy brings a wedding ring to a first date right? He probably has to build some sort of friendship, spend some quality time with her better before proposing.

“It’s similar to building a relationship with your target market so you can know when they are ready to buy your stuff. You make them aware , trust and then see you as an authority”

To create quality content for your customers, you need to know who they are, what problem they have, what you can do, and how you can help. And that is where the concept of The Buyer’s Journey comes. Before a customer decides to purchase a product, he/ she would have gone through some thought processes . Remember your customer is not just buying for the sake of buying , rather to solve a problem.

 

The Buyer's journey is like building a relationship

At each of these stages, what your potential customer is searching the web for is different. But by understanding this path, you can position your product to them appropriately.

THE AWARENESS STAGE

Take, for instance, Stephanie loves to sew clothes but she does not seem to get it right. She’s not even sure of what name to describe the problem, but she sure knows she has some challenges.

“My clothes do not fit after sewing, I don’t even know what I am doing wrong “

At this stage, Stephanie knows she has a problem with her sewing but not sure of what it is, so at this stage, she is most likely doing research on sewing mistakes beginners make,  why am I making mistakes in my sewing projects? e.t.c

This stage is the awareness stage, she is simply looking for informational resources to understand the challenge and possibly give a name to it. This is not the point to sell your fashion school to her or the sewing tools you sell. Rather, you make her understand what the problem is using different resources.

These resources might be in form of 

  • Blog posts
  • E-books
  • Checklists
  • Cheat sheets
  • How to videos

THE CONSIDERATION STAGE

The customer has given a name to the problem and is looking for approaches to solve them. The knowledge from the awareness stage can help them narrow their search to specific keywords, products, and companies that can help solve their problems. This is where you leverage search engine  optimization , digital ads ,a good product copy and most likely get their contact to exchange for the resources you are providing.

 

Stephanie for instance could search for ;

Online sewing techniques for the perfect finishing 

Best Fashion School in Lagos .Here, she has identified the problem, the name, and the solution.

And you can provide them with;

  • Case- Studies
  • Reviews
  • Webinars
  • Templates
  • Frequently Asked Questions

THE DECISION STAGE

At this stage of the buyer’s journey, the customer research is narrowing down the list of possible products, vendors, comparing pricing, benefits, etc. Now Stephanie is aware of you, trusts you and then knows you have authority in the filed.

She is more informed and you can offer her;

  • Free trials
  • Free Consultations 
  • Or even an attractive discount.

And then she will see “Why  your sewing class better and the benefits she will get” 

CONCLUSION

Bottom line,  you need to understand the exact stage your client is, otherwise, you will be trying to close a deal with a client that does not even know what problem she has. Never assume they know what they want, have an intimate understanding, and deliver the right value at the right time. 

Enjoyed reading this article? Join Our Business Webinars every Thursday, @ 8pm WAT, live on Instagram where Professionals share fantastic tips and tricks to help your business grow.

 

Recommended Resources 

 

 How To Increase Sales Online

 How To Find Customers and Increase Sales

 Tips For Writing Good Product Description 

 

 

 

 

 

× Whatsapp Us