What benefits can business give us?

Business is not only a human endeavour that is popular, but also very lucrative. Business can be a tool through which certain advantages can be derived. If you ever contemplated but didn't think that business is profitable, know today that you are wrong. 

Contrary to what you think business is a very beneficial venture. It is a tool that could be used to gain many benefits.

          THE BENEFITS OF BUSINESS 

                       1 WEALTH: 

The fisherman is known for fishing. But why does he? He does not wake up in the morning and carries his net to the river for fishing simply because he enjoys fishing. Fishing is no source of recreation to him. What he usually does after catching fish proves this claim to be true and indicates his real objective for fishing. 

When he catches the fish, he does not share it, but goes to the market with it and sells it to those who wishes to buy. He trades the fish for money. Therefore he employs fishing to be a source for fetching wealth. 

Humans can actually imitate the fisherman by employing business as a tool for acquiring wealth. They can only do this if business is efficacious a tool for acquiring wealth. Otherwise, doing so, would not achieve the desired objective. The truth is that, it is efficacious. Business can be used to acquire wealth. 

The world is filled with many business men. They resorted to business as a means to acquire wealth, implying that they consider business capable of giving them wealth. 

Eventually they build their businesses. The business in turn gives them money. They testify to this. Evidence supports that they draw wealth from business. Their testaments and the evidence that they draw wealth from business attests tot he fact that business can be a source of wealth. 

A bulk of the richest people in the world are not those who work secularly with the government or hold political positions. But are those who own businesses. Their business is synonymous with them, and considered the well from which they draw wealth. Attesting to the potency of business giving wealth. Why did you think that most of the richest people are usually business men? If business isn't capable of giving wealth, I do not think it could give the many billionaires that we know wealth. 

There are three major ways through which you can make money from business. All of them involves monetizing your business; putting into place policies that would make the objective of your business to be monetary instead of charity. And the three particular ways to do that are; production, and service. Let us now go straight to discuss the three methods of making money through business. These very methods are the conventional ways through which people have made wealth through business throughout history. If we must make money through business then, we must do so through the method those methods that has been effective. 

                   A. PRODUCTION 

Throughout history, men have made money through business by producing products and monetizing them; selling them to those in demand of them, gaining revenue and profit from the sells. 

The Gucci business exemplifies one that specializes in production. It is a fashion brand based in Florence. It produces; Bags, Shoes, Accessories, Handbags etc. It sells the items to the users. Now what is very interesting about the Gucci which reveals that one could actually acquire wealth from production is the fact that it has a revenue of over $9.9 billion. Think about such a huge figure. That example alone helps to establish the claim that producing and selling is an effective way to make money. 

You can choose to make production your niche. Producing a particular brand. It could be any kind of item. The item could serve any purpose. It could be clothes, food, or any item at all. When you produce them, with capital; everything required in production including, equipments and company, you would then sell them to your customers. You would derive revenue from that sell. When you deduct your capital from the revenue, what would be remaining would be your profit. 

If it costs you $10 to produce and item, and you make the cost of that item to be $15, and sell to your customer, you would deduct the $10 from the amount the customer paid to you, which is the revenue, and the what would be left over which is $5 is your profit for the business. The more of the products you sell, the more profit you would make. 

There would always be very many people producing the kind of product that you produce. This may lead to competition between you and them. The key to succeeding, infact excelling more than any of your competitors is to stand out; produce quality products. 

People have appreciation for quality products. They do not like inferior ones. So make sure that your brand does more than meet the standard for that product. Then the result would be turnoverz since human experience shows that quality is what attracts customers. 

If then, your product is of the highest quality in the country, it simply means you would receive more patronage than them. Advertising your product is important, it helps give it limelight. Making it cheap is also vital, it helps make it affordable so that many can buy it. Every other thing may be important. But if people become aware of your product and buy it at a cheap prize, but finds out it is not up to their taste, they would not buy it again. When it is of superior standard they would always patronize you. 

Producing quality products is your key to achieving enormous patronage. And when you receive serious patronage consistently the result would be wealth for you. The more revenue you make, the more wealth you would draw. It would help you to expand your production and business and also to boost your networth. 

Examples abound of businesses that have as their niche production. They produce one item or the other. Some specialist in producing a certain product. Others produce many products. One notable is the Dangote. Dangote produces Cement and other items. 

Each bag has a certain cost. Monthly more than thousands of bags are sold. Now do you know how much he sells a bag? Infact to understand how much profit he makes, suppose he sales 1 thousand bags monthly at the rate of #8000, and it costs him #5000 to produce each. How much did you think he would realize? Just do the calculation and discover. Now for information, he receives so much patronage.

And you can be like him. When you produce an item, you can sell it, and gain revenue, and draw profit from the revenue. 

Your revenue could become very much if there is much patronage. And the more profit you make the more your wealth would add up. 

                     B.SERVICES 

It is not only products that can be monetized.

Business men monetize their services just as they do their products. Thus, they gain revenue from the sells of their services. 

A perfect example of such a business is the laundry. Think about the laundry man. The services that he offers includes; washing of cloths, bleaching cloths, ironing cloths, and delivering washed cloths to customers. 

They do not offer those services for free. Instead they monetize it. Those who are willing pay to be beneficiaries of them. 

Think too about the commercial banks and the services that they offer. One of those service involves keeping money for customers. Customers pay them for those services. 

Those who monetize services gain revenue from those who patronize them. What we have observed is thatz if people appreciate your service, they would always be willing to pay for it. They cannot offer theirselves those services. And they need it, so they cannot choose not to patronize you. 

Some specialize in rendering only a particular service. Others offer than one. Some specialize in both production of goods and services. 

It is up to you to decide if your business would be solely involved in services or both production. 

Knowing this therefore you can choose to make money by availing yourself to offer services which would appeal to people for money. As they come to you for the service, you will charge them, and receive revenue from the payment. The key to success is to stand out. When people notice your services are up to standard they will patronize you consistently. 

                       C TRADING 

In the Nigerian stage, Mr Louis Ojukwu was once a business character. He is one of the first Nigerians to become a billionaire. He is from Nnewi in Anambra state of Nigeria and was born in 1909. He occupied the 2nd position in a family of four children. After receiving education in Asaba, he moved to Lagos. There he secured employment with John Bolt as a tire sales clerk. His customers included Igbos that came from the east to buy tires. Upon discovery that they also bought textiles, he decided to invest in textiles; he established in Onitsha a store specializing in the sales of textiles, which he named the ''Ojukwu stores''. He bought them, stocked them in his store and sold to customers. 

To cut the story short, Louis was able to secure so much wealth trading on textiles. He secured so much that he was able to use to diversify his business. 

Isn't it interesting to know, that one of the first Nigerian billionaires secured a bulk of his wealth from trading? His example serves as an evidence that trading can be a route to wealth. 

Many are there that have secured wealth from trading, testifying to this claim. 

An example of the trader is the retailer. He buys in bulk from the wholesaler and stocks it in his store, availing it for the customers to buy. Suppose he buys 10 products at the cost of $5 each, and decides to sell them at the rate of $10 dollars each, he would make a profit of $5 from each of the articles.

You can make money through trading by buying items that are in demand, particularly in high demand, and selling them at a price that supercedes the capital you used to purchase it, then when you deduct your capital from the revenue you would realize your profit. 

     2. ACHIEVEMENT OF OBJECTIVE 

Business owners are humans. As such they are rational. Their action like that of every human is spurred by one thing or the other. They, would not commit to anything without a reason. Whatever we do, we do for a reason. There is a motive behind every action. Infact every thing we do has a reason. It follows therefore that business men would not start a business without a reason. 

But how can we be certain? We are certain because of testaments from business owners. As they establish their businesses, they grow and they become synonymous with them. People become curious to know what spurred them to start them. When journalists meet them, they usually ask them this question. And what we have drawn so far from the interviews of business men the world over, is that no one ever started a business without a motive. 

Consider a business that indulge in production. And sell their products. Without being told, you can conclude that the aim of that business is to make money through the sell of its products. 

You would also find some business that enhances the welfare of their members, without any monetary objective in mind. You can judge that the business is used as a tool to Carter to the welfare of the members. You would always find that the owners have objectives they want to achieve through the business. And that no business man establishes without a reason.

There is always something that they want to achieve with their business. They never start their business without reason. Infact, every business has goals, visions and missions attached to it. The successful establishment of the business, and running of it, usually helps the owner to fulfil the objective for its establishment.

When Dangote secured money through loan from his uncle, to start a business, he had the motive of acquiring vast wealth through his business. That dream saw his fulfilment after the establishment of his business. His business became a cash-Cow, giving him vast profit, which is a fulfilment of a dream to him.

3. PROVISION OF GOODS AND SERVICES

The Facebook was produced by Mark Zuckerberg. This is a truism. No one has ever questioned this fact. Everyone is learned on this. There is no one, a user of the social network that does not know that he invented it. Infact he is synonymous with his invention. He is celebrated the world over as the owner of Facebook. The Facebook is one of the most, infact if not the greatest social network ever created. There is only very little e-product that superceded it in fame, patronage and appreciation from people. It is thus without a doubt that you are likely acquainted with it. Or perhaps you are even one of the users of the app. 

This very application is very important to us. It is a medium through which we network and connect with people; sending them files electronically and receiving information from them. 

Suppose he never built the Facebook, what would have happened? If he never did, the network will not be in existence today. The world would be void of this network and lack all that it offers. 

It is the same with every other products that we know. If their owners never create them we would not have access to them.

A bulk of the products that we make use of today, are produced by companies. Business Men take steps to create them. And thanks to them, we have available those products. 

Almost, if not every man made product that we know were created by one business or the other. Cloths by Gucci, Phones by Apples, etc. Those businesses creates their brands with the purpose of monetizing them, but we benefit from them because their creation of them makes it a available. 

It is the same with services. There are certain services that we enjoy today, that we derive from business. Think about the laundry business. It renders the service of washing our cloths. And what about Telecommunication networks that allows us to communicate with people over the air? What about commercial banks that keep and secure our monies? 

     4. PROVISION OF EMPLOYMENT 

Business is a chariot that cannot ride itself. It needs someone to ride it. Business always involves activities. And the performance of those activities requires people. Those activities may include; purchasing, auditing, accounting, production, advertising to mention a few. To understand how business involves activities, think about a bakery. A bakery is dedicated to the manufacturing and selling of bread for profit. This can be achieved only when certain activities are achieved. We do not have a perfect understanding of all the activities involved in baking, but for illustrative purpose, they may involve; purchasing of baking items, mixing of flours, baking, packaging of bread, storage, selling and etc. just think about all those activities. They cannot occur on their own. Someone must perform them. Their occurrence is also a must, for the achievement of the goal of the business to take place. Each of those roles has to be played. The need to perform them, gives birth to the need for workers- those who would perform the roles. When businessmen succeed in establishing businesses, having the need for workers, they begin to source for them. They make adverts for people whom are willing to engage in activities involved in their business. People utilize that opportunity, by availing themselves to work, to play those roles for money. They agree to engage in those activities for money. Businesses having no option, hence they cannot do without staff, are forced to accept their terms for their service- payment and employs them. The businesses becomes employers to them, and a source of employment to the employed. Thus, they provide employment opportunities by employing people who are skilled to engage in the activities that they are involved with, for benefits which could be monetary. When the skilled becomes employed he assumes the position of being capable of securing income from them.

         5 PROVISION OF REVENUE 

Business gives the business man profit. When the business man makes sells he realizes revenue and draws his profit from it. 

Like the business man, the government benefits from the government. The business man pays tax to the government as we all know. Each business pays a tax, in accordance with the requirements of the country. 

If the total money that is paid by each business is added up, it would result into a huge sum. In a country where there are more than a thousand registered business and all if them are expected to pay $40 as tax monthly, when you add all the money that would be paid by each business it would reach a high amount. 

There are some very large business ventures that pays very large amount of money to the government. 

Taxes are usually paid monthly or yearly. Thus they are sources of revenue to the government as business is a source of profit to the owner. Drawing revenue, from business governments use the money to better the lives of their state and citizens, like provision of amenities and infrastructures. Infact, the more revenue government draws from business the more wealthy it becomes, because the money adds up to the wealth of the state.

      6. BETTERMENT OF WELFARE 

Some kinds of business are not monetary in it's objective. Rather they aim at enhancing the welfare of their members. Examples includes the cooperatives. Members of this kind of business derives benefits that are exclusively for members, that are rich and enticing, difficult to find unappealing. We could draw this kind of benefit by becoming members of such business.