Dean C & C, London (2026)

Name: Dean C & C
Address: London, GB
Telephone: 08022002234

Accountants and business advisors to ambitious and growing owner-managed businesses, corporations and not-for-profit organizations. With the vision of being an influence in the growth of Small and Medium Scale Enterprise "SME's", Individuals knowledge on finance and investment, starts-ups and providing a sustainable platform for support.

08/03/2016

TIME TO START YOUR BUSINESS

Not everyone is cut out to be a business owner, not everyone would own a mega business, not everyone would be an employer or an employee forever, but this is what I expect, “Everyone should have more than one source of Income”.

We all know the saying; don’t put all your eggs in one basket. We end up as slaves when we know that if we don’t have our current job we cannot put food on our table, we cannot afford the good things of life. We end up as slaves if we know that the job we have is the only source of income and we don’t have a choice than to jump out of bed early in the morning, return late at night only to jump out of bed the next morning. The job controls us because we need the money, so the rat race continues.

What will you say if I tell you, there is a job offer where you decide when to resume in the morning, when to close, you decide who you work for (you chose the client) and who works for you (you chose your team). You control your time and control the salary you earn, you can decide to work from home so you can drop your kids at school and pick them up later in the day.
Would you take that kind of job? If your answer is yes, then the job offer is starting your own business!

The many question I get when I discuss this type is; as an employee,
- What kind of business can I do?
- Should I leave my current job?
- When can I start my own business?
- Where can I get capital to start my own business?

To this most frequently asked questions, my response generally would be:

- Do “businesses” that meets people’s needs, find a problem and solve it in exchange for money, do a business you understand and have passion for.

- As regards leaving your current job to start your own business, I do not always advice this except that your business can pay your current salary, and you cannot know this until you start. You can always run your business while still keeping your current job. The idea is to have other streams of Income from your job so you don’t end up as slaves to your job.

If you must leave your job to start your new business or run an existing business, ensure you have at least six months of your current salary in a savings account or preferably a fixed income investment account that you readily have access to.

- Where to get capital? Use your current job as the first means, save, invest, take an office loan, draw up a business plan and sell the idea to friends and family to attract investors. Stay away from Nigerian banks!

In conclusion, “you can’t fall if you don’t climb, and the truth is, there is no joy in living your whole life on the ground”. Start your business now with what you have!

08/02/2016

Build Your Own Business

“You have planted much, but harvested little. You eat, but never have enough. You drink, but never have your fill. You put on clothes, but are not warm. You earn wages, only to put them in a purse with holes in it” Haggai 1:6. This is a message to build!

How many of you feel your job is not enough to meet your needs? Not enough to put some amount aside to save or even invest? It only pays bills, and not all bills. Then your purse is leaking, it has holes in it and you need to change it.

I once heard a joke that there are three types of salaries:

1: Storm type of salary; this type does not announce when it is coming, it comes suddenly, it could be on 25th, 15th, 30th….of the month. The alert comes suddenly, and every one screams.

2: Onion type of salary: this type makes you cry whenever you open your purse. Just like when you cut onions, water comes out of your eyes. This type of salary makes you cry.

3: Menstrual type of salary: this type of salary comes after every 25–28days and only last between 4-8days.

So which type of salary class do you fall?

Quit any strategy that doesn’t work, quit that job that doesn’t meet your needs! Quit making other people rich while you work yourself out only to earn a salary that doesn’t last. There is no point being on a bus that is taking you nowhere.

The benefit of building your own business far outweighs having a job; You control your time, control who works for you and who you work for. You control how much you earn and how much to pay yourself.

There is absolutely no point being on a job where you grumble all day. If the driver of that bus is not heading in your direction, simply alight.

In the coming week I will tell you when it is the right time to start building your own business, just before you quit. Till then, I leave you with these words to ponder on:

“You’ll live by your sword, hand-to-mouth, and
you’ll serve your brother, but when you can’t
take it anymore, you’ll break loose and run free”
Genesis 27:40.

These words most relate to the type of jobs that many have, but remember; “until you can’t take it anymore” you have a choice, a choice to break loose and run free!

25/01/2016

INVESTING – How Much Money Can You Handle?

A certain man was about to go on a journey so he called his servants and gave them money, to one he gave $5,000, to the second he gave $2,000 and to the third he gave $1,000, he gave them according to their ability to handle money (Mathew 25: 14-16 Message Bible) and left for his journey. Now let me stop here for a while and ask you a question, how much money can you handle?

I have asked quite a number of people this question and come to realize that some people cannot even handle N500,000, and when I mention N1million some would scream while some feel they have the capacity to handle it if given to them. What will you do if you had N10million given to you?

I once heard the story of a young man who came to Lagos from Ibadan looking for N1million to start a poultry business, he got a job in an investment firm and saw how individuals and corporate entities invested money in millions, even in billions, he saw the flow of money and his scope and capacity to handle more money changed! N1million seem to him like N10 after few months of working in that environment.

Back to the parable, after several months of being away, the master returned and called his servants to give account of what they had done with the money. The one with $5,000 had doubled the money and gave his master $10,000, while the one who received $2,000 returned $4,000 to his master, immediately they were promoted to become a partner in the business.
But the one with $1,000 came up with excuses, “Master, I know you have high standards and hate careless ways, that you demand the best and make no allowances for error. I was afraid I might disappoint you, so I found a good hiding place and secured your money. Here it is, safe and sound, down to the last cent” (Mat 25:24-25 Message Bible).

What is the moral here?

1. This servant who was given the least because his master knew his inability to handle money does not like to take risk, he said he was afraid. In business, you just have to take that risk!

2. Perhaps, he thought what he had been given was too small to invest so he decided not to do anything. Many people wait for the day they have millions before they would invest or buy that land!

3. This man wouldn’t learn, he wouldn’t ask questions before venturing into a business, he said; “you hate careless ways”.

4. It is criminal to put money in a savings account for the long-term! “The master was furious. That’s a terrible way to live! Its criminal to live cautiously like that!...The least you could have done would have been to invest the sum with the bankers, where at least I would have gotten a little interest. (Matthew 25: 26-27 Message Bible)”

NEVER PUT MONEY YOU DON’T NEED IN THE SHORT-TERM IN A SAVINGS BANK ACCOUNT!!! Like his master told him, “INVEST” he didn’t say “SAVE” the money with the bankers. What this servant simply did was to put the money in a Nigerian savings bank account where the money never grows, but reduces with series of SMS charges, maintenance fees, transaction charges when you do internet transfers etc. You are not investing when you put money in a savings bank account!

What his master was simply saying is clear, if you can’t learn business skills and take a risk in business, simply put the money in a fixed deposit account, approach an investment bank and agree on an interest rate on the amount given to them to handle. Do a research on the best place to get a good offer and stop being careless!

Money only flows in the direction of who can handle it well.

“…Do business till I come.” (Luke 19:13 NKJV)

18/01/2016

Don't cut your expenses!

I have a very controversial topic which many advisors and logical thinking person would consider awkward. Every individual believes if he can cut down on their expenses he should be able to save more and if possible increase his level of investment. I believe there is a level of joy we all feel when we spend, when we go shopping, when we have enough and nothing to ration, when we take our families and loved ones on a vacation. There is more joy when we purchase that dream car, dream home, lovely wrist watch, shoes, and bags if you are a lady, or the money to invest in that new opportunity you have just been introduced to... Whatever it is, spending is good!

How many of you feel like you earn money just to put in a pocket filled with holes? Because they don’t stay too long with you due to rising needs, rather than having to deny ourselves what we need just because we want to save and if at all it’s enough to invest. We feel we don’t earn enough or not saving enough, but one thing is certain, we have needs! And we must spend.

Now don't get me wrong, I am a strong advocate of saving, rather than be a throw away generation, but what I strongly support rather than cutting your expenses is what I call the grow your income strategy!

I know what you are thinking right now is that you've heard someone say your expenses would always rise to meet your income, even when you earn more your taste, choice of where to shop and live changes to meet your rising income class, so you just never have enough to save, and the rat race continues.

Let me tell you how it works, how to live in more than enough to meet your needs and still having enough to save and invest. It’s simple; don't cut your expenses, keep it the same and seek to grow your income, seek other sources of income apart from the current income you earn, create multiple streams of income for yourself by constantly looking for opportunities to make money.

Let me put it better in the words of the greatest man I know that ever lived, whose principles I would share from time to time on this page, “…Streetwise people are smarter in this regard than law-abiding citizens. They are on constant alert, looking for angles, surviving by their wits. I want you to be smart in the same way –but for what is right- using every adversity to stimulate you to creative survival, to concentrate your attention on the bare essentials, so you’ll live, really live and not complacently just get by…”(Luke 16:8-9 Message Translation)

Whatever you do with the income you earn, seek first to grow your income, cultivate an habit of maintaining the same level of expenses each month and you will see yourself living in more than enough!

Till my next edition, keep succeeding…Dean Chris

About the author: Chris is a member of the Association of Certified Chartered Accountant “ACCA”- UK, also a Member of the Certified Professional Accountant “CPA” and Certified General Account “CGA” – Canada. He has over 12years investing experience in the capital market; he is a personal and business finance coach with several years as a consultant. He has a passion for educating the informed and uninformed in the business sector, he currently heads the Finance unit at a major investment firm in Nigeria. He can be contacted at- 08022002234 or [email protected]

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London

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08022002234

Website

http://deancandc.com/

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