Title: 1000 Practical Business Ideas and Directory of Money Sources,
Publisher: Biz Lifelines Co, Lagos, 2014
Author: Sunkanmi Vaughan
Reviewer: Bayo Ogunmupe
THIS book is an illustrated and Practical guide to Business. It is also a directory of Money Sources that enable you to create and protect your business ideas. It teaches the reader more than one thousand ideas and how to execute them. Reading this book enables you to create ways to write business plans and run businesses profitably. This volume also offers you access to contact information for thousands of instant money sources and how to star and grow your own business.
The plan to write this book grew out of a desire for self employment. Since our educational system builds a graduate to become a job seeker even after four years of college education, it behooves a person to get himself employed without government assistance. Thus, the decision to create employment for yourself rests squarely on your own shoulders. Which is why this book has been written to tender options that can be applied in developing your own businesses and finding solutions to your money problems.
In the second chapter, business ideas and ways to execute these business plans which are the seeds of entrepreneurship in a country. However, reading this book alone won’t solve your problems as a job seeker or entrepreneur. As a graduate with a job seeker mentality, you would ultimately realize the futility of depending solely on job seeking for your present and future plans.
This section of the book offers you many creative options. As an employee aspiring to become self employed, you will come into contact with money making methods at this juncture, but you might be reluctant on such options ultimately failing to decide when and how to start your new venture. Then, you may likely end up depending on your salary or pension even though you know and have the skills to begin your own business.
Thus, the advantage of reading this book is that you would be equipped by its research oriented approach on money making options and how you can become your own boss. Chapter three provides you with the necessary business education on how to get business ideas and the skills to fine tune them into workable businesses. However, only sound education can equip you with the confidence and creativity required to implement your business plan successfully.
Within the umbrage of the factors of production of land, labour and capital, raising funds for starting or supporting your business becomes very crucial. Thus, the perennial problem of funding as an impediment to creating your own business is adequately tackled in this chapter. Indeed, the directory of money sources affords you the opportunity to get necessary funding. More so, chapter four opens your access to information on multiple sources of instant funding is guaranteed.
This illustrated business ideas handbook has 412 pages, six chapters, an appendix of six pages, two pages of references, 14 pages of index and an introduction.
An endearing aspect of this book is the author’s recommendation for a departure from the norm. The norm is go to school, gain skills and knowledge, leave school to gain employment. Then retire and start looking forward to making money. Most often people don’t retire happy. They end up in penury. Mr. Vaughan’s recommendation is for the graduate to leave school equipped with skills and knowledge, develop money making business, work the plan by starting small, raising capital and become a business tycoon. I believe this is the best option, the best way to rid Nigeria of current mass unemployment. Let us all, the unemployed, the under-employed and the retiree start small scale import substitution businesses. It is the only way to return the nation to sanity.
If professional certification is involved, get the necessary instruments, enroll for the process that will lead you to obtaining the professional license in your preferred area of business. Do this if even you will not start practicing with your license immediately. Also, pay your membership fees as at when due and attend professional meetings regularly.
You can achieve all of these even as an employee of a company. Create a safety for yourself in the event that you are laid off, retired, fired or retrenched. Create your own business and before you retire, if you ever needed to do so, hand over the firm to capable hands.
To develop your company, make a list of what you love to do with unbeatable enthusiasm, if even you could not figure out how to finance them. To research your business plan, conduct market research to determine its profitability and location. The library and the internet are the places you could go to to research your business plan. Itemized in this book are hundreds of money-making ideas – from agriculture, animal husbandry, through fisheries and film distribution business.
Act now is the heading of chapter six. There, Sunkanmi related a story by the French Philosopher Jean Buridan who said a bundle of hay and a bucket of water were each put at equal distances before a hungry and thirsty donkey. But just because the donkey could not choose which to take first between water and hay, the animal eventually died of thirst and hunger! Thus like the donkey never allow your indecision to frustrate the execution of your business plan. Therefore, let this story serve to remind you that your purpose of reading this book or review can only be realized if you act now.
The author, Sunkanmi Vaughan is a consultant, graduate of Pharmacy from the University of Lagos, and motivational speaker on the challenges of Small Scale Businesses. He is a member of the Nigerian Institute of Management and the Chartered Institute of Loans and Risk Management. He is also a member of the Pharmaceutical Society of Nigeria. He is married with children.