Mugland Consult/Mayegun Agribiz

Mugland Consult/Mayegun Agribiz *We train women and youth interested in farming, cashew processing, personal development and entrepr

At times it is not the amount of profit you make on a product that matters but how often or quickly you make the profit....
08/05/2024

At times it is not the amount of profit you make on a product that matters but how often or quickly you make the profit.

For example, you sell product A and B. Anytime you sell product A you make a profit of N50k and anytime you sell product B you make profit of N6k.

Ordinarily you will say product A gives you more profit than product B. Am I correct?

However, you sell product A once in a month. While people buy product B 5 times a week. This means in a month you sell 20 of product B. Product B gives you N120K (20 X 6) profit every month!

Now which one is more profitable? Product A or Product B?

For a small business owner that has limited capital but wants to grow the business fast, it is a good business strategy to stock up with more of product B. Yes, spend more of your resources on acquiring product B.

Whatever the business you are doing the principle is the same.

Frequently check your products and identify which one is moving fast, do the arithmetic and invest more of your resources on the ones that give you the most profit within a giving time.

Bolanle is the first Business Coach in Nigeria to focus on Small Business Profitability.

Chat with her on +2349151571159.

S.A.L.U.T.EHappy Workers Day!!!
01/05/2024

S.A.L.U.T.E

Happy Workers Day!!!

I am always very concerned about the state of emotional health of business owners with all the going on in Nigeria. This...
19/04/2024

I am always very concerned about the state of emotional health of business owners with all the going on in Nigeria. This is because I know that stress affects decision making and destroys creativity. And I belief that to survive this period all business owners need to be creative.

I want to tell you that you can control your stress level despite everything you are going through as an individual and as a business owner.

All our stress comes from what we focus on. I know I have said this many times before, but I will continue repeating because all around me business owners are still focusing on the wrong thing. There is no way you can be stressed and still be creative, you can’t be stressed and still make the best decision for your business. So, we must get our focus right.

Yes, it is our fault to have that stress and we can decide to do away with stress.

Let me explain.

See, when we continue to pile (stack) one problem on the other by thinking of all that has gone wrong or going wrong, or will go wrong, we are flooding our mind with negativity. The consequence is that we are frustrated, angry and overwhelmed.

Let us assume you have a way of flooding your mind with good things like who loves you, who you love, who has done something wonderful to you, who had helped you before, a wonderful thing that happened to you or a loved one. Yes, you can deliberately or intentionally flood your mind. I have tried this many times when I am emotionally stressed, and it has worked like magic. It calms me, renew my energy and give me the boost to think of creative solutions.

Another thing you can do is ask yourself “what am I grateful for?”, “whom do I love?” “What am I proud of?”.
Yes, you must be grateful of something. What about the taste of food because there are some people with illness that makes food or water taste horrible. There are some people who get pains even when a little breeze blow on them.

I remembered the time I had earache. Any little air movement was a t0rture. I never knew earache could be so devastating.
You speak and you sounded like human, some people cannot do this. Be grateful for all little things you can think of.

When you are grateful, the gratitude will destroy 2 things: anger and fear. These 2 are what give us stress. Have you seen someone that is angry and grateful at the same time? Or have you seen someone that is scared and grateful at the same time? I have not.

When the fear and the anger is under control then the stress will disappear, and you will be able to think creatively and come up with workable solutions to whatever challenge you are facing in your business.

This has worked for me repeatedly even when I didn’t fully understand the logic behind it. But now that I know better, I have become more intentional in using it and it has never failed to uplift my mood and open my mind to possibilities.

Try it.

The more you try it, the better the result you get.

Bolanle is the first Business Coach in Nigeria to focus on Small Business Profitability.

Chat with her on +2349151571159.

Have you ever experienced a situation where you have only been waiting for someone for 5 minutes and it seemed to you th...
18/04/2024

Have you ever experienced a situation where you have only been waiting for someone for 5 minutes and it seemed to you that you have been waiting for an hour but when you checked your watch you were surprised to see that you have been waiting for only 5 minutes.

Or you had to spend few days in an environment that you were not keen for and at the end of those few days it felt like you have been away for months.

Or you were somewhere very relaxing, exciting, and enjoyable. And then it was time to move. Your holiday was over, and you started wondering where the time went.
I can go on and on.

I have experienced all and similar ones over and over again.

But why is this so? Why does time seemed to drag in a situation and in another it seemed to fly so fast? Yet the fact that 60 seconds make a minute, 60 minutes make an hour, 24 hours make a day, 7 days make a week never change?

It is because time has a link with our emotion. The emotional state we are in determines whether time flies fast or time moves slowly.

A minute can feel like a lifetime when you hate what is going on. That is why as a business owner it is a big plus for you if you are doing a business that you love, or a business that is based on your passion.

When you do what you love as business, Time flies faster, stressful situation becomes less stressful, difficult situations less difficult. You have residual strength to push ahead when many others are giving up. When others are tired, you continue pushing against roadblocks in your path until it gives way.

When your business is based on your passion you automatically have an undue advantage over your competitors, you are ahead of them in so many ways.

If you are yet to start a business or you are the type that moves from one business to another, this is a good time for reflection. It is never too late to do whatever you desire. It is never too late to do the business that you love.

Bolanle is the first Business Coach in Nigeria to focus on Small Business Profitability.

Chat with her on +2349151571159.

16/04/2024

Have you ever had a situation where you are showing your displeasure to your staff when they fail to meet expectations or when they perform below required standard and the staff started talking about how much efforts he had put into your business?

Instead of addressing the problem at hand he would talk about how he had not slept well because of the work, how he has been missing meals, how he had suffered a lot to get the work done. He would go on and on rambling or grumbling.

He will be saying all sort of things to distract you from the main issue. He would make you feel unappreciative or ungrateful of all his efforts.

In the early days of starting business when this happened, I would feel like a wicked boss, I would feel guilty. And I would remember one of the negative believes I had about businesspeople, “businessmen are exploiters” will jumped into my head. And I would immediately drop the issue frustrated and unhappy because I didn't want to be seen as been exploitative.

But that was manipulation from the pit of he!l. The staff successfully manipulated me and a fell flat on my face many times.

It took me a long time to realise that they guilt-trip me to avoid taking responsibility for their actions. They did that because they did not want me to hold them accountable in any way and their strategy worked for a time.

But I learnt.

When staff have strategy that prevented you from holding them accountable, they will always perform below standard or below expectations and your business will suffer for it.

Your purpose of employing staff is to contribute to the achievement of the business goal. No more no less. Your staff get paid for the RESULT not how much effort/work they put into it. This is the only way your business can stay on course. So, you don’t have to feel guilty about anything and you don't owe them any apologies for been result focused.

Sure, he claimed to work hard and put all effort but where is the result? When talking to underperformed staff your focus must be on why he is not getting result not how much effort he has put in.

Result is what will grow your business. Result is what gives you profit. Don’t allow them to side track your focus ever again.

Focus on result and make sure your staff focus on result also.

Bolanle is the first Business Coach in Nigeria with focus on Small Business Profitability.

Chat with her on +2349151571159

As a focused and ambitious business owner, time is something that is very precious. And many times you wish there are m...
15/04/2024

As a focused and ambitious business owner, time is something that is very precious. And many times you wish there are more than 24 hours in a day.

Whether you know how to use time or you don’t know how to use it all of us have 24 hours every day nothing more and nothing less. When it comes to time nature blesses us equally.

At the initial stage of a business or project there is normally a heavy demand on our time but as the business stabilizes, we should be able to regain some of the time.

But what I noticed is that business owners find it difficult or impossible to pull back. They find it impossible to take their rightful position as a strategist and the thought behind the business success. Instead, they become just one of the staff.
And so you hear the complaint of not having time for family or weekend or holiday or expansion.

You don’t have time because you did not build your business well. If you build your business the right way it will give you all the time you wish. You will have time to scale, to enjoy your family, have time for holiday, weekends and even time to make more money and to cap it all you will have time to be happy.

Yes, you need skill to work this out. That skill is worth learning. Start the learning today.

Be the brain behind your business not just one of the workers.

Bolanle is the first Business Coach in Nigeria with focus on Business Profitability.

Chat with her on +2349151571159

19/03/2024

While working as a salary earner, my work schedule was always very busy in operations. Going to office early and leaving late. No respect for Weekends or public holidays.

When I started business, I started noticing some business owners who worked the same way. No weekend, no holiday. No personal time.

That worried me a lot because I was thinking once I leave my salary job, I would just do something that will give me the opportunity to do catch-up on the family special days and holidays.

That thirst for time freedom was the reason I went into plantation agriculture. But I continued thinking that there must be a way for hard working business owners to have some me-time, enjoy family time and holidays and still run a successful and profitable business. There must be other ways.

The first person to show me the other way of running a successful business without burning myself out is my profit mentor Dr Rakesh. He told me I didn’t have to be present in the farm for the day-to-day work if I manage my workers well. He taught me the Leadership skills and the Delegation skill I needed. He showed me how to duplicate myself.

Dear Business owners, you are replaceable.

Working 24/7 is not helping your business long term and it is not good for your health too. Though working without leaving time for rest seems the only solution to you, but it is a quick way to kill your business because there is no way you can be at your best when you overwork.

Why is it that no one can do what you are doing while you take a rest or while you attend to personal things?
Ego? Because you want to be seen as hard-working?

Is it Fear? You are afraid that things will go sideways if you dare to take your eyes off the business for few hours.
These are mindsets that will lead to burn out, stagnation, and eventual death of your business.
What is the way out?
Learn to delegate. It is a skill that is worth learning.
These 5 tips will help you.
1. Document what you do, write down the step-by-step process of what you do.
2. Train others to do what you do.
3. Make sure they do things right.
4. Give them the opportunity to do it without breathing down their necks.
5. Put control in place.

It is your responsibility to make yourself replaceable.
When you do you will have time to develop fresh ideas and innovative solutions that will take your business to the next level.
What about expansion. You will also have ample time to plan and execute your business expansion.

Bolanle is the first Business Coach in Nigeria with focus on Business Profitability.
Chat with her on +2349151571159

There was a time last year that I asked business owners what their main challenge was. Many of them responded that they ...
06/03/2024

There was a time last year that I asked business owners what their main challenge was. Many of them responded that they needed more capital for their business.

The belief of most is that more capital equals more profit.
Unfortunately, this is not so.

Many of the business owners I talked with have not reached the growth or profit potential of their present capital investments. it means at their present level of capital investment; their capital is not given them the highest returns possible for that business.

If you are in this situation, when you add more capital, your profit may not increase. In fact, your profit may even start to reduce.

Why is this? Because there is a lot of inefficiencies in your business. And it is like adding more water to a leaking bucket. The bucket will not be full until you close all the leakages.

For instance, you think having no money to run ad is the reason you are not making more profit, so you start looking for money to run ad. Meanwhile at present, the return on the capital you already invested is very low and, in some cases, negative.
Running that advert may not bring the result you expect because your business is leaking your resources.

Since you are not running your business at the optima level any additional capital is a waste.

What I am saying is that before you add additional fund in your business make sure the business is running effectively or optimally. And before you run that ad make sure your business is positioned to take full advantage of the benefit of the advertisement.

This is not the time for waste.

Bolanle is the first Business Coach in Nigeria with focus on Business Profitability.
Chat her on 0915 157 1159

While working as a salary earner, I was always having a busy schedule working in operations. Going to office early and l...
12/02/2024

While working as a salary earner, I was always having a busy schedule working in operations. Going to office early and leaving late. No respect for my weekends or public holidays.

Then, I started noticing some business owners who worked the same way. No weekends, no holiday. No personal time.

That worried me a lot because I was thinking once I leave my salary job, I would just do something that will give me the opportunity to do catch-up on the family special days and holidays.

That reasoning was the reason I went into plantation agriculture. But I continued thinking that there must be a way for hard working business owners to have some me-time, enjoy family time and holidays and still run a successful and profitable business. There must be other ways.

The first person to show me the other way of running a successful business without burning myself out is my profit mentor Dr Rakesh. He taught me the Act of Delegation.

Dear Business owners, you are replaceable.

Working 24/7 is not helping your business long term and it is not good for your health too. Though working without leaving time for rest seems the only solution to you, but it is a quick way to kill your business because there is no way you can be at your best when you overwork.

Why is it that no one can do what you are doing while you take a rest or while you attend to personal things?
Ego? Because you want to be seen as hard-working.

Is it Fear? You are afraid that things will go sideways if you dare to take your eyes off the business for few hours.

These are mindsets that will lead to burn out, stagnation, and eventual death of your business because you cannot be your best when you a continually overworked.

What is the way out?

Learn to delegate. It is a skill that is worth learning.

These 3 tips will help you.
1. Document what you do, right down the step-by-step process of what you do.
2. Train others to do what you do.
3. Make sure they do things right before you leave them on their own.

It is your responsibility to make yourself replaceable.

When you do you will have time to develop fresh ideas and innovative solutions that will take your business to the next level.
What about expansion? You will also have ample time to plan and execute your business expansion.

Bolanle is the first Business Coach with focus on Business Profitability in Nigeria.

Chat with WhatsApp 0915 157 1159.

09/02/2024

You are a Fashion Designer, and you are very good at what you do.

You are a Mechanic and an expert in your field.

You are a Food Processor, and a known expert in what you do.

You are a Poultry Farmer very knowledgeable in what you do.

So, you have the core expertise or knowledge or the hard skill already.
But do you have business skill?

Learning/knowing the core skills is not enough to succeed in business. You must also be good in business skills if you want your business to grow or increase profit.

The question for you is, do you know how to position your business on the path of profitability?

It is true that you have learnt how to make soap.
You have learnt how to instal inverter.
You are the best cook in your community.
Until you learnt how to build a business around your skill, the hard skill alone cannot sustain you.

Chat with me on +2349151571159 to see how we can put your business on the growth and profitability path.

Whether you are in a paid job or doing business or even unemployed don’t ever be satisfied with your certificates. Self-...
07/02/2024

Whether you are in a paid job or doing business or even unemployed don’t ever be satisfied with your certificates.

Self-education and self-development must matter to you if you want progress.

Always look for new things to learn, always find ways to add value to yourselves, that is the only way you will not be left behind.

Do not be left behind.

It is not a pleasant feeling.

Bolanle is the first Business Coach with focus on Business Profitability in Nigeria.

Chat with her for tips on your business issues.
0915 157 1159

Never allow obstacles, challenges and difficulties separate you from your goals. As you overcome obstacles you get close...
01/02/2024

Never allow obstacles, challenges and difficulties separate you from your goals.

As you overcome obstacles you get closer to your dreams or objectives.

Every trial or test bring you closer to your end game.

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Ibadan
200257

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