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Inem

Knowledge Seeker
Ask Inem
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143 Questions
Home» Inem»Answers
  • About
  1. Asked: July 17, 2024In: Money & Business

    How To Attract New Customers To Your Business?

    Inem
    Inem Knowledge Seeker
    Added an answer on July 19, 2024 at 2:59 pm

    You really have to push out your marketing messages to markets that your business has not yet served to attract them to your business. You have to research under served or non served markets that could be a potential market for your business and find ways to reach them. Another way to attract new cuRead more

    You really have to push out your marketing messages to markets that your business has not yet served to attract them to your business. You have to research under served or non served markets that could be a potential market for your business and find ways to reach them. Another way to attract new customers to your business is to get referrals from friends and associates. That’s why relationships are important in business.

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  2. Asked: August 19, 2023In: Money & Business

    How much is enough for a business start-up?

    Inem
    Inem Knowledge Seeker
    Added an answer on July 19, 2024 at 2:55 pm

    The ideal amount that would be used to  start a business is dependent on the kind of business and the scale that you want to start at. The best way to determine this cost is to do a feasibility ans adjust it to your conditions. For businesses like barbing salons, restaurants and laundry, $500 can stRead more

    The ideal amount that would be used to  start a business is dependent on the kind of business and the scale that you want to start at. The best way to determine this cost is to do a feasibility ans adjust it to your conditions. For businesses like barbing salons, restaurants and laundry, $500 can start it at the basic level and capacity.

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  3. Asked: September 14, 2023In: Money & Business

    How to Build Budget for a Business?

    Inem
    Inem Knowledge Seeker
    Added an answer on July 19, 2024 at 2:50 pm

    The first thing that should be understood when doing a budget for a business organisation is the operations of the business and it's capacity. That would help in estimating the costs that the business would run within the specified period of the budget. The next thing to do is to ascertain how the cRead more

    The first thing that should be understood when doing a budget for a business organisation is the operations of the business and it’s capacity. That would help in estimating the costs that the business would run within the specified period of the budget. The next thing to do is to ascertain how the company intends to generate revenue. Is it from sales? Then, there must be sales data to be used to estimate revenue. When these two are handy, the budget can be done easily.

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  4. Asked: June 4, 2024In: Money & Business

    What Are Some Examples of Offline Side Hustles.

    Inem
    Inem Knowledge Seeker
    Added an answer on July 19, 2024 at 2:46 pm

    There are lots of side hustles that one can do offline and this depends on the individual skills of a person. One can have a small food business as a side hustle. That's what my brother runs and he serves the residents of his estate per order and makes good money from it. As for me, I use music andRead more

    There are lots of side hustles that one can do offline and this depends on the individual skills of a person. One can have a small food business as a side hustle. That’s what my brother runs and he serves the residents of his estate per order and makes good money from it. As for me, I use music and public speaking as my side hustle. And they pay me well. I play music ans talk at events when I am free from business activities.

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  5. Asked: September 12, 2023In: Money & Business

    How can you save money for you children's education?

    Inem
    Inem Knowledge Seeker
    Added an answer on July 18, 2024 at 6:50 pm

    If you are talking about saving for the kid's education in college, it starts from when the kids are born. You can consistently be dropping a certain amount in a a savings account that you don't have access to till your child enters college. Saving a substantial sum of money for 16 years consistentlRead more

    If you are talking about saving for the kid’s education in college, it starts from when the kids are born. You can consistently be dropping a certain amount in a a savings account that you don’t have access to till your child enters college. Saving a substantial sum of money for 16 years consistently should compound to give an amount that can pay for at least half of the child’s  total tuition in college.

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  6. Asked: September 10, 2023In: Money & Business

    As a investor, is it wise to invest with your life savings?

    Inem
    Inem Knowledge Seeker
    Added an answer on July 18, 2024 at 6:46 pm

    When you hear that people should not put their eggs in one basket, it applies to investment greatly too. There is no sure investment in the world as it stands. Every kind of investment has a degree of risks and putting your life savings to invest in any venture would leave you financially exposed ifRead more

    When you hear that people should not put their eggs in one basket, it applies to investment greatly too. There is no sure investment in the world as it stands. Every kind of investment has a degree of risks and putting your life savings to invest in any venture would leave you financially exposed if something happens and the investment fails. You should build your portfolio bit by bit rather than emptying your life savings into investments.

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  7. Asked: July 18, 2024In: Insurance, Money & Business

    What Are The Benefits of Getting an Insurance?

    Inem
    Inem Knowledge Seeker
    Added an answer on July 18, 2024 at 6:43 pm

    You have to understand what an insurance coverage does for you to ascertain if it is necessary for you to get one. An insurance helps to provide financial coverage for the risks that one has to face in life which can lead to financial losses. Life is full of risks and getting an insurance policy proRead more

    You have to understand what an insurance coverage does for you to ascertain if it is necessary for you to get one. An insurance helps to provide financial coverage for the risks that one has to face in life which can lead to financial losses. Life is full of risks and getting an insurance policy protects you from going down if the numerous risks of life happens to you. It is only when you face those risks that you would understand that insurance is beneficial to you.

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  8. Asked: July 18, 2024In: Money & Business

    How To Create a Business Plan From Scratch?

    Inem
    Inem Knowledge Seeker
    Added an answer on July 18, 2024 at 6:39 pm

    If you want to wait till profitability in a business before creating a plan for that business, you would never achieve profitability. A business plan should come immediately after you have done feasibility for the business. It defines the path that the business is going to take to profitability. ToRead more

    If you want to wait till profitability in a business before creating a plan for that business, you would never achieve profitability. A business plan should come immediately after you have done feasibility for the business. It defines the path that the business is going to take to profitability. To create a business plan, you would need to bring all the data you gathered during feasibility and balance it with variables of the present conditions available for the business to start up, balance them and create a realistic proposed plan for the startup and  running of the business.

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  9. Asked: July 18, 2024In: Money & Business

    Does a Hire Purchase Business Make Profits?

    Inem
    Inem Knowledge Seeker
    Added an answer on July 18, 2024 at 6:32 pm

    The owner of a hire purchase vehicle makes good profits from it. Some have used the hire purchase arrangements to buy another vehicle. The challenge is that most people treat hire purchase as a survival scheme and not as an investment. If they keep track of all the payments they get from the higherRead more

    The owner of a hire purchase vehicle makes good profits from it. Some have used the hire purchase arrangements to buy another vehicle. The challenge is that most people treat hire purchase as a survival scheme and not as an investment. If they keep track of all the payments they get from the higher purchase, they could possibly do something tangible with it. Most higher purchase vehicle arrangements give the eventual buyers at double the cost of the  vehicle.

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  10. Asked: July 18, 2024In: Money & Business

    How Do Investors Add Value To The Economy?

    Inem
    Inem Knowledge Seeker
    Added an answer on July 18, 2024 at 6:27 pm

    When investors put their money into companies, they help the company to either stay in production or increase their production capacity. That has a positive impact on the economy in the sense that an increased production would help with providing employment to the citizens. And then, the increased pRead more

    When investors put their money into companies, they help the company to either stay in production or increase their production capacity. That has a positive impact on the economy in the sense that an increased production would help with providing employment to the citizens. And then, the increased production would help to boost the GDP of the country.

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