Table of Contents

Table of content......................................................................................................................................................................... 3
Preface............................................................................................................................................................................................. 6
Appreciation ................................................................................................................................................................................ 8

CHAPTER 1

THE FUNDAMENTALS OF ENTREPRENEURSHIP .............................................................................................. 10

CHAPTER 2

THE COMPLETE SCIENCE OF GENERATING HIGHLY PROFITABLE BUSINESS IDEAS .............. 35

CHAPTER 3

BUSINESS LEGAL STRUCTURES ...................................................................................................................................59

CHAPTER 4

RAISING ENOUGH CAPITAL FOR YOUR BUSINESS (THE CHEAT SHEET) .......................................... 73

CHAPTER 5

WHAT SHOULD I BE DOING IN MY BUSINESS TO KEEP MAKING MONEY? ....................................95

CHAPTER 6

MARKETING 101: THE SECRETS OF ENDLESS SALES .................................................................................... 100

CHAPTER 7

PRICING: HOW TO CHARGE PROPERLY ................................................................................................................ 117

CHAPTER 8

HOW TO KEEP YOUR CUSTOMERS COMING BACK ...................................................................................... 135

CHAPTER 9

HOW TO BUILD THE BEST TEAM AND MULTIPLY YOUR GROWTH ON BUDGET ...................... 165

CHAPTER 10

WRITING BUSINESS PLANS THAT WINS THE CASH ...................................................................................... 178

CHAPTER 11

23 HIGHLY PROFITABLE BUSINESS IDEAS IN NIGERIA ............................................................................... 189

This book is dedicated to all my fans, mentees and every young person in Nigeria who has
a dream of never letting their background limit their future.
 PREFACE

No doubt about it guys, this is your one go to book about starting up a business in Nigeria. It
contains all you need to know as a business owner.

You won't have to read any other book about business in Nigeria after going through this.

This book was not intended to prepare you for exams. So don't expect me defining terms like
a professor. That won't make you any money.

The only thing this book focuses on are the things you need to know in order t to make
money in your business. Straight to the point!

Guys, I didn't invent the principles in this book. Nobody knows who invented them. But we
know those who are using them to make huge profits. I've used many of them and I'm
reproducing the same results as these business tycoons in my own business too. These
principles are timeless secrets. You can't easily find them anywhere. You are so fortunate you
bought this book.

It is important you don't jump any portion of this book. As much as possible, read it
sequentially. Every chapter is a buildup of the previous one. If you jump any chapter, you will
miss the foundations upon which certain concepts being discussed are leaning.

You will always need this book. Don't lose it for any reason.

Read it at least 4 times.

Read it as quickly as possible the first time to get a general overview of what the book is
teaching.
It's time for you too to make money in six and seven figures consistently.

Enjoy the ride!

 APPRECIATION

This book was a success because certain persons supported me.

My gift is to explain complex things to people in ways they can easily relate with and
understand. Putting this book together with such simplicity of words wouldn't have been
possible without the Holy Spirit. I totally know my intelligence and my ability to craft words
in ways people can understand is totally because of the Holy Spirit who gives me inspirations.

In case you don't know him, he's the spirit of the Father of the Lord Jesus Christ. The same
Jesus who died for the sins of the all human race and made us completely righteous before
God. The work of the Holy Spirit is to testify of this Jesus that whoever believes in this Jesus
will have eternal life and inherit the Kingdom of God. If he helped me this much, I can't but
talk about him!

I wrote this book during the global pandemic that hit the world called COVID-19.

My family stood by me in the period of writing this book. They supported me with prayers
and did all my chores.

All I did was to just work round the clock-- write, eat, pray, sleep, wake up, continue writing,
eat, pray, sleep, wake up and it continued like that for days!

You are benefitting today from the labor of the gifts of men to me.

This book is a product of days of very hard work! I thank God I could finish it.
 CHAPTER 1

THE FUNDAMENTALS OF ENTREPRENEURSHIP

Money! Money!!

How would you feel if someone texts you and says,

"Send me your account details. I felt like sending you ₦50,000 for the weekend. Hope you
don't mind?"

Even the feeling of 'send me your account details' alone is enough to make you recover from
headache.

I don't know about you, but each time I see those words, there is this therapeutic effect it
always has on me.

I feel really happy!

Now imagine getting this feeling every day, every week, every month! How do you think that
would feel?

That won't be a bad idea. At least, some of you already do. And if your case isn't anything like
that yet, this is what this book was written to solve.

Nothing cures headache faster than an alert! Trust me!

Your job. Your business. Your family or friends. Your passive income source. These are sources
you might want to mention on a general note of where your money comes from and reaches
you for you to use as you like.

It's not a bad idea to keep getting money from family and friends, but how far will that take
you? Getting money from your boss too is not a bad thing, but the question is "How long will
you keep getting paid by a boss?"

Personally, I've not seen one person who became a Billionaire working for others. You can
find out! History has not recorded one person that grew to surplus and affluence by staying
under a boss strictly from their salaries and earnings (No ownership. No shares)! And history
never lies, history always repeats itself.

If what you want is just to make some little money and live quite fine, that's nice actually but
if you're really serious about creating wealth and rising to the point of financial freedom
where money is no longer your problem, then you need to find yourself a business and a
passive income source.
No matter how much you earn, working for others cannot give you financial freedom!

To earn financial freedom, you need a business and then a passive source of income.

This is the same pathway people like Bill Gates, Jeff Bezos, Steve Jobs, Aliko Dangote, Femi
Otedola and the likes of them followed that made them the Billionaires we celebrate today.

What we notice in the lives of these folks is a reoccurring pattern of wealth creation that has
always been there from history.

Although some of them might have started out by working under other people but none of
them became a Billionaire working for a boss. They had to start their own businesses and
mind their own businesses.

You can't become a Billionaire minding the businesses of others.

If you got this book, I believe it's because you want to follow the same pathway they followed
which made them so rich. That pathway is the pathway of entrepreneurship!

You have thought about starting your own business, especially in Nigeria, and you want to
know what it takes to rise from level zero to the peak of your wealth!
Money making is a game. Business is a game. And just like every other game, to win in this
game of money making, you need to know the rules and be able to follow and apply the
rules.

These set of rules are laws and principles that are universal. They work for anyone who puts
them to active use. And this is exactly why I am so confident they will work for you too just
as they are doing for me. These laws are no respecter of persons, backgrounds, age, race and
what have you. They work for everyone as long as they are activated and put to work.

If these rules can work for anybody, then why are people still poor???

Well, people are poor and will still be poor because they don't know these rules and so they
can't apply them. These rules are sacred. They are treated as secrets by those who have them!
Those who have these rules don't share them. They keep them to themselves.

So the poor keeps being poor because he doesn't know how the game of money and wealth
creation is played. And there is no way you can activate a law you don't know. This is because
in order to make a law work for you, you must deliberately and constantly put that law to
work.

Except these laws of wealth creation are continuously put to work, these laws cannot work!

This is why someone who doesn't know these laws can never hit it by accident. You can never
create wealth by chance!
I have found these laws and I am excited to share them with you. I didn't invent them. In fact,
none of the Billionaires I mentioned earlier invented them. They are laws and principles that
have transcended ages and I was careful enough to discover then through rigorous study in
search of knowledge and my unquenchable quest for wealth. I am persuaded these laws
work because I have seen people put them to use and they have worked for them. I have
also put many to use and they are equally working. If they can work for me, they can also
work for you too.

While I will mention a lot of laws that you need to put in place in order to make money (which
I believe is the main reason why you are in business - to make money!), I will be focusing
majorly on starting up a business from scratch till the point it begins to make you six or seven
figures every month.

I must let you know that the same principles required to make 1 million naira are the same
principles required to make 1 billion naira.

The money making game is a game of money multiplication. You go into business to
multiply money. You don't create money! You multiply it! You can't create something out of
nothing!

So any system that allows you to turn 1 naira to 2 naira, can make you turn 1 billion naira to 2
billion naira.

Which means, the more money you have, the more money you can make.

So the business game is a money multiplication game. We go into business so we can use
the money we have to make more money so that we can now use that extra money made
to make even much more money. And this is how wealth is built and sustained. Money
making money.

Simple right? Yes!

"If it is this simple, why are people not getting it?" Someone inquired.

Well, good question!

It is indeed simple but the hard part is that many people can't think of any system that can
multiply their money for them. A lot of these people don't know how to set up these systems
of money multiplication. They are absolutely clueless about how this is properly done.

This book is the answer to that vacancy!

It shows you all the hard part of setting up a money multiplication system in very easy to
understand and follow ways.

Entrepreneurship, especially in Nigeria, has not been made this simple! I can bet that!
What really is Entrepreneurship?

Let me not sound like a professor. You are not going to be writing an exam with this book.
Instead, you are going to be applying what it tells you to do in real life! We're talking practical
here, not theory.

Entrepreneurship simply is risk taking.

It is the concept of taking on financial risks and any other associated risks in starting a
business venture.

Entrepreneurs are simply those who embark on this risk taking journey. They are the ones
who are bold enough to take risks, the risk of actually losing money hoping (based on their
calculations and predictions) that they will make money.

You can't call yourself an entrepreneur when you aren't willing to take risks. No, you can't!

Entrepreneurs are primarily characterized as risk takers! They take risks and they take it big.
That's why when they make money, they make it big!

But unlike an idiot, entrepreneurs take calculated risks.

That's what differentiates an entrepreneur from an idiot.

An idiot will just do things blindly hoping that things turn out well while an entrepreneur sits
down, gather all his data and based on his deductions, he takes calculated risks.

This is the kind of risks that bring result.

The key to making this idea work for you is to encourage yourself to begin to take more risks.
Become as daring as you can be. Do what others are most scared of doing. Desist from
following the crowd. Always stand out from the norm. Be intentionally different. Start with
little risks that push you out of your comfort zones slightly and from there build your capacity
to take bigger risks.

Don't be afraid of intimidations from anyone. You already have what it takes to stand up tall
in your world, you just need to polish it more. No one is in the real sense better than you and
you aren't better than anyone. In fact, those people you are intimidated around or are afraid
of talking to are as insecure about themselves as much as you are. They just don't show it.
Everyone has flaws they are always trying to hide. So why should you be so ashamed about
yours? Be confident and bold. The truth is people will love you more when you are more
confident than you are shy.

I once told some of my business mentees, "Walk up to strangers and greet them.
Compliment them and walk away."

I told them to do this to about 20 people daily.

What was I trying to instil in them?

Fearlessness. A sense of self-worth that isn't intimated by people or what people will say
about their actions. A sense of confidence and a mindset that isn't afraid of taking risks.

And as you build yourself to take risks often, you become a stronger candidate for
entrepreneurship!

You shouldn't be starting a business when you feel you are not ready enough to take up the
risks of possibly failing or losing the money invested.

Entrepreneurship is not a child's play. It is not for the feeble hearted. It's for the strong
hearted. It is for Lions.

Very quickly I would love to point out to you some of the mindsets entrepreneurs have that
makes them stand out and record success.

The business mindset of an entrepreneur!

Mind-sets are everything. To the largest extent, they affect everything you do and will
become on your entrepreneurial journey. So it is highly important to pay keen attention to
this key aspect of entrepreneurial success.
Your mindset is simply how you set your mind. What you focus your mind on. It is what your
belief system is. What you think with your mind and the perspective you see life from.

Life is different things to different people. Life is essentially how you see it.

If you see life as good, life will be good to you. If you see life as very unfortunate, life will be
very unfortunate to you.

Your thoughts about life must be guided at all times. You must consciously place your mind
on the right things and train your mind to see things from the right perspective at all times.

So quick one, what do these folks believe?

1. They believe in themselves.

Successful entrepreneurs are strong believers in themselves. They believe they have what it
takes to achieve what they want. They believe they can make it. They don't allow the noise
of haters weigh them down. They are strong believers in themselves.

Until you believe in yourself, you really can't make it. You must live above your weaknesses
by recognizing your strengths and capitalizing on them.
I see many folks around saying they want to better a better person. That's not bad at all. But
then, the approach they give to becoming a better person is what is faulty. They rather
choose to work on their weaknesses instead of developing their strengths. This faulty
approach will only keep them moving in circles.

Never work on your weaknesses. When you do, you will only end up with a bunch of strong
weaknesses.

Instead, focus your energy on working on what you are naturally good at. Those are the
things you should work on developing yourself and becoming better at.

Early enough, I saw that I had a weakness with execution of tasks. I procrastinate a lot until
tasks get out of hands. I would come up with very brilliant and amazing ideas but the
execution part was my weakness. For some time I thought I was another failure. Someone
who just talks, comes up with ideas but never does anything about them.

I kept thinking like this until one day when I listened to a message by Pastor Sam Adeyemi.
That message changed my life. While I cannot remember the title of the message, I
remember the contents. I could remember because he described me.

He said previously he used to try to be like other people. He was always trying to preach like
his mentor who was more of the energetic kind of a Preacher. He said he also, like his mentor,
tried to be very energetic while preaching. But all through those times, he felt like a fake.
That was not his style. He wasn't feeling fulfilled.

So he decided to switch gears and to start preaching as calmly as possible. And then puff, he
began to see better results. He began to see far greater results.
These results didn't come because he tried to become a better energetic Preacher (which
most of you would have done), instead he dumped that idea and simply decided to get
better as a calm Preacher. He decided to focus on his strengths and the payoff was very
massive contrary to what he originally believed.

In that message, he went further on talking about himself. And this time, this one really got
me because it really cleared my doubts.

He said he is a kind of a person that does better at ideas than at execution. Ideas come to
him easily, just like me, but execution was his biggest problem. Guess what he did, he didn't
try to become better at execution, rather he became better at generating ideas.

So what did he do about the execution part (which we all know is important)?

He simply got people who were better at execution to work on his ideas.

His job was to come up with the ideas (which was what he was good at) and then get others
who were better at execution to work on them.

That was a big hit for me!

That very moment, I gave up on trying to be who I am not and then focused my energy, my
entire energy, on who I was made to be.
That's who entrepreneurs are, they focus on their strengths and let others fill in the gaps for
their weaknesses.

So quit trying to be what you are not. Be yourself as much as you ever can! People may have
all sort of opinions and complains about you, don't give a damn! Just be you. Quit trying to
be what others want you to be and be more of yourself while you let others fill the gaps for
your weaknesses.

You can only become great when you are yourself! People may not celebrate you now for
being yourself, but a day will come after you must have been great, they will want to identify
with you!

This book is not intended to be a motivational book. In fact, I'm not by any means trying to
sound like another motivational speaker. However, an entrepreneur must always be
motivated. These are the foundations for his or her success. You can't be successful as an
entrepreneur if you're not motivated. Going straight to tell you about setting up your
business and raising funds to run it without emphasizing these fundamentals is a total waste
of time! We're here for serious business. And that's exactly what I'm doing.

So fellow entrepreneur, you have to believe in yourself and accept yourself for who you are.
Stop trying to be like others. Be yourself as much as possible because therein lies your
greatness!
2. They believe that not getting it right doesn't mean failure!

And yes! That's right!

Failure, No! Entrepreneurs don't fail! We never do!

Here's our perspective...

Whenever they try something and it doesn't work out, they simply learn from it and take it
as a discovery and not as failure. They've discovered another way it won't work and they move
on.

This mindset helps them not to be afraid of failure, because in the real sense, they don't fail.

They keep trying new ways of getting it right and keep learning how to get it right. If
something doesn't work this way, they try another way. If it doesn't work that way, they try
yet another way. If it still doesn't work, they keep trying new ways and new approaches until
it works!

Entrepreneurs know they can't always win all the time. In fact, they know that their ultimate
success lies in the number of times they have "failed" (failed in quote). The more they fail, the
more discoveries they make and the closer they are to getting it right. So they never get tired
of trying. They never get tired of using new approaches when one doesn't work out. They
never quit. Instead, they "fail" forward.

Even the Holy Bible says it this way, "A righteous man falls seven times and rises again". In
other words, what makes you righteous is not the fact that you didn't fall at all. Instead, what
makes you righteous is the fact that you fell and then you rose up again.

Never let one failure discourage you. Instead see failure from a whole new perspective. See
it as essential to success.

I said something earlier. I said your ultimate success lies in the number of times you have
"failed".

Let me illustrate to you what that means.

On average, you have only a one percent chance of success in every attempt you make. This
is true in marketing. It's called the one percent rule.

This means if you advertise to 10,000 people, the success conversion rate is expected to be
just 1% which is 100. That is the case when all your marketing strategies are in place and
everything is just right. It's worse when your marketing strategy is out of place. Little wonder
people who claim they are in business and do everything to get customers except consulting
the right experts to help them with their marketing strategies fail woefully. Those kind of
people always want to address things that need expertise by themselves and so they fail.
The serious business people get people who are experts on board and quit doing things that
need expertise that they themselves don't have.

So back to our 1% rule.

The chances of success (provided all the important factors are right) is just one percent.
Imagine talking to 10,000 people about my products, it means I should expect 100
conversions. I'm not saying it can't be more. But ideally, that is the case. But then, in a
situation where I only have 100 conversions, what happens to the remaining 9,900? Failed!
A whole 9,900 failed! Just 100 succeeded.

So what if I want to get 200 conversions, what do I do? I will need to speak to 20,000 people.
And that means I will have to expect 19,800 failures! Wow that's so huge!!! 200 wins, 19,800
failures! Hmmn.

But the interesting thing about this is that the few number of wins will always and always
make up for all the failures.

Life is designed to give you more failures than success. But the wins will always make up for
all the failures!

So in order to increase your chances of success, what do you do?

Increase your number of attempts!

Of course that would mean more failures, but on the other hand, it means more successes!

This is why successful entrepreneurs aren't afraid of failures, because they know that their
ultimate success lies in their number of attempts and consequentially their number of
failures. But the good news is that the few successes always make up for all the losses and
failures.

Bill Gates had to pitch his business idea to 1200 potential investors, only 11 (about 1%)
supported him and made him the Billionaire he is today. Same for Steve Jobs. Same for Jack
Ma. These people had similar experiences. But they didn't let the "No's" they were hearing to
kill their drive for a "Yes". They knew a yes was on the way for them.

Don't be afraid of failing. Embrace failure. Give things more attempts and trials. Never give
up. Successful entrepreneurs don't. Stop seeing failure as failure. Start seeing it as a discovery
of how it won't work out. See it as a lesson and then try another way. The more you try, the
more your chances of making it. But if you decide to sit in one place hoping that things will
just happen on their own accord for you, you are in absolute darkness! Don't be in darkness!
Make up your mind now to start giving things a trial even if it seems as though you will
obviously fail, still try!

3. They believe opportunities never get better.

What does this mean?

First let me let you understand that entrepreneurship success is entirely tied to the
opportunities you saw and took advantage of before they became obvious.
Your success as an entrepreneur is tied to the number of opportunities you can take
advantage of quickly!

So entrepreneurs don't wait for opportunities to expire before they take advantage of it. They
are like lions praying for opportunities. Once an opportunity shows up, they pounce on it!

This is because they understand that opportunities never get better, they only get worse.
The more people who knows about an opportunity, the worse that opportunity becomes. So
they act quickly and fast once an opportunity shows.

They don't waste time. They don't sit lurking around and wasting precious opportunity time.
They are smart about taking quick actions on opportunities.

You never can tell the opportunity that will make you! So you must not take opportunities
for granted.

If you've been waiting for things to get better for you before you take advantage of some of
the opportunities coming your way currently, you have to stop now! You have to stop
because things can never get better than they are now! Things will only get better based on
the steps that you take and not by sitting and waiting.
Imagine you want to leave your house in the morning for work, you've dressed up and you've
done everything you need to do only for you to sit down and be waiting.

"What are you waiting for?" Someone asked.

"Well, I'm waiting for all the traffic lights in the street to be green before I step out!"

Isn't that unreasonable?

Why would you ever wait for all the traffic lights to show green before you step out of the
house??

Well, this is exactly what some of you do whenever you say you are waiting for things to be
fine before you make your move. Things will never be fine! You have to move regardless.
That's because things will only become fine as you begin to make moves and you start
seizing opportunities.

Get up and start moving fast! Seize the opportunities that come your way as quickly as
possible. Stop waiting till when things are better. Find every means to seize every
opportunity you see. Pay for that course or program before it expires, take up that
investment before it is too late, drop that application before the offer closes! Be a Lion of
opportunities!
4. They believe they cannot keep making excuses and still be making money at the
same time.

Excuses? Money?

Nooo!

You can't make the two at the same time. You can only make one.

If you are always making up excuses for why you can't do something, why you can't take
advantage of an opportunity, why you can't buy that book, that course, that training, why
you can't enter that investment, why you can't get that job done, you cannot be in the league
of money makers.

You can't make excuses and make money at the same time, you can only make one of them.

Entrepreneurs don't see impossibilities. They always have a way of making something work.
They see possibilities. They don't welcome excuses and they also try as much as possible to
avoid making one.

Don't give up on things too quickly. I personally believe that there is always a way out and
my job is to find that way. I find out how it should be done, except deep down I don't want
to do it. If I don't want to do something, I come up with all sort of excuses just to avoid it. But
if I really want to do it, I find a way.
Life always leaves you with one open door no matter how closed and tight everything else
is. This is true for every difficult situation you may be experiencing or will ever experience.
That open door may not be so obvious and so it might be difficult to find. But it can be found.
No matter how bad a situation is, if you can sit down and think enough, there will be a way
out!

So quit the excuses game and always find a way to do the things you know you should be
doing. Stop using lack of finance as an excuse, if you can think enough you will breakthrough
that situation.

Entrepreneurs don't entertain excuses. They make money instead! They are simply go
getters!

5. They believe in making money work for them instead of working for money.

"Coach, how do you mean?"

"How do entrepreneurs make money if they don't work for money?"

Successful entrepreneurs don't believe in working for money. Instead they focus on making
money work for them.
This means that they use money to leverage on other people and as a result make more
money. They make other people do the work for them while they pay them. They then make
much more money from the sweat and labour of others.

Successful entrepreneurs are more of administrators and managers than artisans and
merchant.

You are not yet a business person in the full sense of it if you are still the one working for
yourself and doing all the labour work yourself. You become a full-fledged business person
when you begin to employ others and leverage on their expertise to achieve your goals.

Hence, you aren't working for money per se, you are making money work for you. You are
using your money to leverage on other people's talents and skills to achieve your goals.

If you are primarily working for yourself and doing all the labour part of your business
yourself, you are still an artisan or merchant man and not yet a business person. A business
person is acknowledged for their abilities to put a money making system to work without
being directly involved with the labour intensive parts of the business.

Entrepreneurs believe that to be successful in business, you have to work with experts. You
have to work with competent people who are better than you at what they do. You have to
hire specialists in specific fields.
Although you are allowed to start out as a Jack of all trade whereby you are the one playing
all the roles in your business. That's allowed.

This approach is great if you want to raise the money for your business all by yourself or you
just simply want to have a good steady source of income temporarily. So what you want to
do is to learn a high income skill and work as an artisan for some time until you have raised
enough money to start your own business full-fledged.

But as you begin to move up, you must begin to spread out the responsibilities to other
people so that you can have time to focus on other key (managerial) parts of your business
while still making more money and achieving better results.

I tell people, there are only two things you need to learn to become a successful
entrepreneur!

1. How to run a business well.

2. How to sell anything to anyone, anytime!

With those two skills, you can change the world.

As a matter of fact, you don't even need to learn any other skill. It's not compulsory. You don't
need to learn how to sow clothes, how to bake cakes, how to do this and that. No. You don't
need to have any skill. All you need are the two skills I've mentioned above (How to run a
business well, which is what you are learning now, and how to sell anything to anyone
anytime)
However, I must also state that you have a double advantage for a guaranteed success when
you have a skill you can trade in addition to the two main skill sets I mentioned.

So if you can sow clothes well, and you also know how to run a business well, and you also
know how to sell anything to anyone anytime, your success is double guaranteed!

Still on not working for money as a serious business person, you should understand that no
company grew because of one man, every company that ever grew did so because of team
work. You must have your team.

Specific instructions on how to build your strong and productive team would be coming
your way in later chapters of this book.

Now that you know the basics of being a successful entrepreneur, let's master how to
generate successful business ideas.
 CHAPTER 2

THE COMPLETE SCIENCE OF GENERATING

HIGHLY PROFITABLE BUSINESS IDEAS

If your business idea cannot make money should we call it a business idea?

No! It doesn't qualify.

Business ideas are there primarily so you can make money

You have no business in business if you cannot make money.

This is reasonable because how on earth will you be able to keep your business going if you
don't have money to propel it.

"Oh, but my own business is just to make impact" Someone said.

Well, you don't have a business, what you have is charity. You can't call that a business. A
business needs to make money in order to keep on performing.
So if your customers are always asking you for a discount on your price, then it simply means
they don't value you as much as you value them. They just want to use you to accomplish
their goals and then dump you. There's no way you can continue in business if you aren't
making enough to keep it going. And any business you cannot continue will lose relevance,
no matter its previous impact.

So if you aren't charging well for any other reason, charge well because you want to keep
your business alive, otherwise you and your customers will lose. Yes, they will lose if your
company dies. It means they have to look for other means to survive. So if they really love
your brand as they claim, they must pay you well.

So if you ask me to define a business idea without trying to sound like a professor, I would
say a business idea is any concept that proposes a solution in hope of financial gains.

This is as simple as it is. There's no brainer to it. It is just anything that proposes a solution to
a problem and which the beneficiaries of the solution would be willing to pay for.

If there is ever a problem people are facing, then there is a business idea lurking around. It's
that simple.

But then, why do people find it so difficult to come up with a business idea?
It is usually as a result of underlying ego!

They are so engrossed with building the something entirely new so that they too can
become the next Albert Einstein and receive the accolades of people!

What a straight way to poverty that is!

You will keep searching and searching and stressing yourself over nothing.

That's not what investors are looking for. In fact, your potential customers aren't looking for
that either. You're the only one in your solo dessert busy looking for water in a world where
every lives on the sea.

I want you to understand deeply that, big ideas don’t rule the world small but great ideas do.

The viability of your business idea is not determined by the complexity of the idea but by the
simplicity of it.

Nobody expects your ideas will be entirely new. Nobody!

There are only four things that makes an idea viable which I will explain in details later on!

1. Innovation

2. Uniqueness

3. Problem solving

4. Profitability.

Only those four things.

If any of your ideas can meet these four, you are on your way to your millions and billions.

Stop wasting your whole time trying to come up with your own first this or first that. Nothing
under heaven is new. Everything you see around is just a further development of something
already existing. This is called innovation and it is way different from invention. Both
innovation and invention are considered an act of creativity.

If you can be inventive (i.e. create your own stuffs from the very scratch without any similar
precedence in any form), I'm not discouraging you at all. It's not impossible, but I'm only
saying why create your own light bulb for years when you can easily go to the market and
buy one and then develop on it and offer it as a new model?

Do you relate?

Do you think Mark Zuckerberg created the first chatting platform? No! He only innovated on
what was already on ground and see what he has become today.
Generating business ideas is so easy. It's nothing to stress yourself over. Just look around you
and you will see millions of ideas flying right before your faces every single day!

Now quickly let me explain to you the four characteristics of a business idea that makes it
relevant. Shall we?

Characteristics of a viable business idea

1. Innovation

Innovation in simple terms communicates the concept of coming up with new ways of doing
something. It seeks to leverage on already existing ways to come up with newer and more
efficient ways of achieving a particular result or set of results.

How to apply this is simple. Ask yourself, does my idea introduce a better way of doing
something?

Better could mean:

Faster

More effective

More convenient

More satisfying.

Cheaper.
If your idea introduces the word "better" to an already existing concept or idea, you already
have a business idea for yourself.

2. Uniqueness

Your idea must be unique if at all people will accept it. Unique does not mean it has to be
entirely new neither does it mean it has to be previously non-existent. It just means it has to
have something that differentiates it from others doing something similar.

It could be the pricing, or the quality, or the level of customer satisfaction, it could be the fact
that it's a business coming to a new location where such a business has never existed before.
Anything that makes your business idea different from what others are already offering
makes it unique.

Taxify (now Bolt) was nothing different from Uber. Just start Taxify copied a model that was
already existing somewhere else and brought it to a new location.

3. Problem solving

Why should I buy from you when your business does not have anything to offer me?

Your business must be able to address the pains people are going through by offering them
solutions to help them overcome those problems.
So before you sit to develop an idea, you must ensure that this idea will solve a problem that
people are facing.

And when it comes to problem solving, your business idea must target a very specific need
in the market. It has to be laser specific.

Any business that targets everyone is no business at all.

You must be able to define exactly who you're targeting with your ideas in very specific
details.

An example is

A boutique that targets people who are the working classes, aged 18 to 40, male and female,
still single or have very busy spouses, they also spend most of their time at work and so are
unable to visit the boutique to get their favourite clothes. This is very specific.

You can easily solve this problem by creating an app that allows these set of people to check
through all the clothes in the boutique easily from their places of work and order what they
want and have the clothes delivered to their residence.

What problem have you solved?

Time problem

Convenience problem.
Let me mention at this point that there are 7 major (but not limited to) problems your
business solve:

1. Money problems.

2. Convenience problems.

3. Time problems

4. Entertainment problems

5. Safety and Health problems

6. Fashion problems

7. Love and recognition problems.

If your business idea can solve any of these problems, you definitely are on the path of
making your millions and billions.

Nobody will pay you for an idea that sounds good but doesn't solve any of their problems.

4. Profitability

This is core of your business as far as you are concerned. No matter how much of a Good
Samaritan you try to sound, the main reason you are in business is to make money. Other
reasons are secondary.
So you want to find out how much money this business can make you. You want to know
the cost of reaching your potential customers. You want to know how much they will be
willing to pay you for the solution you are offering them. You want to compare the cost to
the price they are willing to pay so that you can determine how much you can make from
such an idea.

And if you are looking for investors, this is what they would be primarily interested in. The
profitability of your business idea matters a lot to them.

How business ideas come!

In coming up with viable business ideas, there are 3 core areas you want to source your ideas
from. They are namely;

1. Your Passion

2. Your Complains

3. Your Ego.

Each of these or a combination of any of them can generate your ideas that will shake the
world.

Let's look into how they work.

 (CHAPTER 2 CONTINUES IN THE FULL VERSION)

Thanks for going through the free version of this guide. I’m sure you’ve gotten value so far.
I’m so confident that even greater value awaits you in the remaining portion of this book.
Complete your guide and start your journey to making at least six figures monthly by getting
access to the full version now on my website or through the vendor that gave this free
version to you.

Cheers,

Mike Adeyemi

Business coach and marketing expert

CEO, aimhighcinematics.com