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Finance Questions, Loans, Insurance & Investment Advice Latest Questions

eldavis
eldavisEnlightened Mentor
Asked: September 10, 2023In: Money & Business

what are the disadvantage of being a makeup artist?

I have a friend who wants to become a makeup artist for celebrities. He is pretty much good at what he does but i do not know if there is any disadvantage to being a  makeup artist. What are the ...Read more

I have a friend who wants to become a makeup artist for celebrities. He is pretty much good at what he does but i do not know if there is any disadvantage to being a  makeup artist. What are the disadvantages and risk involved in being a makeup artist?

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  1. Augusta
    Augusta Enlightened Mentor
    Added an answer on October 25, 2025 at 4:58 am

    One of the biggest disadvantage of being a makeup artist is that the hours can be long and irregular. This is especially If you're working in fashion or film sector you may have to work 12-hour days or even longer as they might be irregular filming hours And again, if you're working at  weddings orRead more

    One of the biggest disadvantage of being a makeup artist is that the hours can be long and irregular. This is especially If you’re working in fashion or film sector you may have to work 12-hour days or even longer as they might be irregular filming hours

    And again, if you’re working at  weddings or events, your hours will be dictated by the event itself. So if it is a long day you would suffer same.

    Poor communication, missed appointments, or failure to understand client needs can lead to unhappy clients and damage your reputation.

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eldavis
eldavisEnlightened Mentor
Asked: September 9, 2023In: Money & Business

how much can a hair dresser make within a month?

Hair dressing or hair stylist as some would call it is one of the popular business around today, there are so many persons into this line of work. How much do hair dressers make per month?

Hair dressing or hair stylist as some would call it is one of the popular business around today, there are so many persons into this line of work. How much do hair dressers make per month?

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  1. spencer
    spencer Enlightened Mentor
    Added an answer on April 18, 2024 at 5:40 pm

    This basically depends on a lot of factors like where you live, and how much you charges for your services, if you have employees in your shop you can set a target for them to reach and all you have to do is manage them, if you're a solo salon then you'd have to factor in a lot of things. I think anRead more

    This basically depends on a lot of factors like where you live, and how much you charges for your services, if you have employees in your shop you can set a target for them to reach and all you have to do is manage them, if you’re a solo salon then you’d have to factor in a lot of things.

    I think anything above minimum wage profits is pretty decent because you can live on that and from there you can focus on making more by adding more services.

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eldavis
eldavisEnlightened Mentor
Asked: September 25, 2023In: Money & Business

How do you know when to move on from a business?

There are certain business we go into, they do not really turn out the way we want them to. How do you know when it’s time to let go of a business that is not doing well?

There are certain business we go into, they do not really turn out the way we want them to. How do you know when it’s time to let go of a business that is not doing well?

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  1. Lens
    Best Answer
    Lens Knowledge Seeker
    Added an answer on June 17, 2024 at 1:29 pm

    If you Found your business no longer challenging you or it's not pushing you to grow, it might be time to consider moving on to another business opportunities. In this regard, you need to embrace new challenges and opportunities that will help you continue to learn and grow as well. You should rememRead more

    If you Found your business no longer challenging you or it’s not pushing you to grow, it might be time to consider moving on to another business opportunities. In this regard, you need to embrace new challenges and opportunities that will help you continue to learn and grow as well. You should remember that it’s okay to acknowledge when a business venture isn’t working out really for you .

     

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eldavis
eldavisEnlightened Mentor
Asked: September 11, 2023In: Money & Business

what is the importance of having a mission and vision

I noticed almost all legit business out there have a mission and a vision, most of them even have this stated on their official websites. What is the importance of having a mission and a vision in business?

I noticed almost all legit business out there have a mission and a vision, most of them even have this stated on their official websites. What is the importance of having a mission and a vision in business?

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  1. Augusta
    Augusta Enlightened Mentor
    Added an answer on August 18, 2025 at 12:27 am

    Statements of vision and mission are important  to a legit business so that everyone involved in the organization understand what the organization will achieve and how it will be accomplished. This is about keeping everyone on the same page to go in the same direction". Vision and Mission StatementsRead more

    Statements of vision and mission are important  to a legit business so that everyone involved in the organization understand what the organization will achieve and how it will be accomplished. This is about keeping everyone on the same page to go in the same direction”.

    Vision and Mission Statements provide a framework for decision-making and guide the actions and behaviours of individuals within the business. They are statements which are easily distinguishable by their objectives-

    Having a vision places a purpose upon your goal-setting activities. Without an end goal or destination in mind, then you won’t have a clear or defined path. Vision provides this. you can start by setting small, attainable goals as stepping stones.

     

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eldavis
eldavisEnlightened Mentor
Asked: September 23, 2023In: Money & Business

have you ever done joint events with other companies before?

I watched a movie some time back where two companies came together to carry out an event and It got me wondering. Have you ever had an event with a company before and what are the benefits?

I watched a movie some time back where two companies came together to carry out an event and It got me wondering. Have you ever had an event with a company before and what are the benefits?

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  1. yusra
    yusra Trusted Adviser
    Added an answer on September 24, 2023 at 3:43 am

    Yes, I have been involved in planning and executing joint events with other companies in previous roles. Some examples that went well: - Partnered with a complimentary but non-competing local business to host a networking mixer. We split the costs and promoted to each other's customer bases - it dreRead more

    Yes, I have been involved in planning and executing joint events with other companies in previous roles. Some examples that went well:

    – Partnered with a complimentary but non-competing local business to host a networking mixer. We split the costs and promoted to each other’s customer bases – it drew a big crowd and introduced our brands to new contacts.

    – Worked with vendors to run product demonstrations and workshops. We provided the venue and invite list, they brought products and specialists. It was an efficient way to engage customers with minimal effort.

    – Teamed up with related industry associations on conferences and trade shows. We took a speaking slot and booth, expanded visibility.

    – Co-hosted a holiday party with peers in our field. We kept costs down by combining resources and each brought different elements like food, entertainment, decor.

    – Participated in community events like charity races by forming a team with other corporations. It built camaraderie and allowed us to make a greater impact.

    The keys to success were clear objectives, aligned values, shared risk and reward, coordinated promotion, and constant communication with all stakeholders. The end result was increased brand awareness, expanded networks, higher event turnout and new business opportunities. Joint events can work very well with the right partners and planning.

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eldavis
eldavisEnlightened Mentor
Asked: September 14, 2023In: Money & Business

what exactly is an ideal customer to a business owner

From time to time we talk about how a business owner should act or behave or the qualities an ideal business owner should have. What about customers? What qualities should an ideal customer have?

From time to time we talk about how a business owner should act or behave or the qualities an ideal business owner should have. What about customers? What qualities should an ideal customer have?

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  1. Light
    Light Trusted Adviser
    Added an answer on September 14, 2023 at 5:05 pm

    I would have said an ideal customer doesn't exist anywhere, but on the other perspective, an ideal customer, to a business owner, is someone who values the product or service offered, has a genuine need for it, can afford it, and is likely to become a loyal, repeat customer. They align with the busiRead more

    I would have said an ideal customer doesn’t exist anywhere, but on the other perspective, an ideal customer, to a business owner, is someone who values the product or service offered, has a genuine need for it, can afford it, and is likely to become a loyal, repeat customer. They align with the business’s target audience, making marketing efforts more effective. Ideal customers often provide valuable feedback and referrals, contributing positively to the business’s growth and success.

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eldavis
eldavisEnlightened Mentor
Asked: September 17, 2023In: Money & Business

Would you allow office relationships?

Most companies or business owners today do not allow their male and female employees to go into any kind of relationship besides work related relationship alone. Would you allow office relationships within your business or company?

Most companies or business owners today do not allow their male and female employees to go into any kind of relationship besides work related relationship alone. Would you allow office relationships within your business or company?

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eldavis
eldavisEnlightened Mentor
Asked: September 7, 2023In: Money & Business

how do barbing salons pay their employees?

A barbing salon is a very popular and common business not just in my country but in almost every part of the world, what I don’t understand is how they pay their workers. Most barbing salons have up to three ...Read more

A barbing salon is a very popular and common business not just in my country but in almost every part of the world, what I don’t understand is how they pay their workers. Most barbing salons have up to three or five and even more barbers working. There are days where there are no jobs at all so how are the workers paid? Are they paid per the number of hair they cut or are they paid a specific amount monthly?

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  1. yusra
    yusra Trusted Adviser
    Added an answer on March 11, 2024 at 9:01 pm

    Here are some common pay structures for barbershop employees: Commission - Many barbershops pay employees a percentage commission on the services they provide. A typical commission rate is 50-60% of each haircut or other service. Barbers keep that percentage of what they earn. Booth rental - Some shRead more

    Here are some common pay structures for barbershop employees:

    • Commission – Many barbershops pay employees a percentage commission on the services they provide. A typical commission rate is 50-60% of each haircut or other service. Barbers keep that percentage of what they earn.
    • Booth rental – Some shops rent out space (“chairs” or “booths”) to barbers to operate as independent contractors. Barbers pay a fixed weekly/monthly rent for their space but keep all their earnings.
    • Hourly wage + tips – Some barbershops pay a base hourly wage similar to other service roles, with barbers keeping any tips. Wages vary but $10-15 per hour is typical.
    • Hourly + commission – Shops may pay a lower hourly wage plus a smaller commission percentage, guaranteeing barbers a base rate while providing commission incentives.
    • Salary – Experienced senior barbers may negotiate a set salary not dependent on productivity. Owners may pay themselves a salary separate from shop profits.
    • Hourly or salary + profit sharing – To encourage team thinking, shops may offer bonuses based on reaching overall profit goals.

    Many shops use hybrid models, with newer barbers on hourly or commission and experienced ones on salary or booth rental. Profit sharing encourages mentoring. Owners must ensure pay structure complies with labor laws. Tip pooling policies also vary by shop.

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eldavis
eldavisEnlightened Mentor
Asked: September 23, 2023In: Money & Business

how do you handle uncertainty and fear in business?

one thing affecting so many business men and entrepreneurs today is the fear of the unknown. Due to fear a lot of persons have refused to take a step further in growing their business. As an experienced entrepreneur, how do ...Read more

one thing affecting so many business men and entrepreneurs today is the fear of the unknown. Due to fear a lot of persons have refused to take a step further in growing their business. As an experienced entrepreneur, how do you deal with fear and uncertainty? 

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  1. aboy01
    aboy01 Trusted Adviser Digital Entrepreneur | Knowledge Sharer | Smart Income Mentor
    Added an answer on May 3, 2026 at 7:56 am

    Fear and uncertainty are part of every business journey—you can’t eliminate them, but you can manage them. Start by turning fear into information: research your market, test ideas in small steps, and learn from feedback. Set clear but flexible goals so you can adjust when things change. Focus on whaRead more

    Fear and uncertainty are part of every business journey—you can’t eliminate them, but you can manage them. Start by turning fear into information: research your market, test ideas in small steps, and learn from feedback. Set clear but flexible goals so you can adjust when things change. Focus on what you can control, not what you can’t. Build confidence through action—each small win reduces fear. Finally, accept that failure is not the end, but a lesson that sharpens your next move.

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eldavis
eldavisEnlightened Mentor
Asked: September 7, 2023In: Money & Business

how much would it cost to start a pure water factory?

In my country Nigeria, pure water is pretty much free as every homes have access to water but there are cases where we buy bottle water or sachet water commonly known as pure water for various occasions like weddings birthdays ...Read more

In my country Nigeria, pure water is pretty much free as every homes have access to water but there are cases where we buy bottle water or sachet water commonly known as pure water for various occasions like weddings birthdays and the likes. Pure water is a common commodity here in my location. How much would it cost to set up a pure water factory ?

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  1. Augusta
    Augusta Enlightened Mentor
    Added an answer on August 8, 2025 at 4:31 am

    Starting a pure water (sachet water) factory especially in my country  Nigeria will be from  5 million to 15 million Naira But this amount depending mostly on the scale and setup. A basic, smaller setup will be lesser like about 8 million Naira.  but advanced factories with multiple machines and higRead more

    Starting a pure water (sachet water) factory especially in my country  Nigeria will be from  5 million to 15 million Naira

    But this amount depending mostly on the scale and setup. A basic, smaller setup will be lesser like about 8 million Naira.  but advanced factories with multiple machines and higher production will cost more up 10 million Naira for a start

    You would need to buy essential Equipment like Pure water machine(s), Water treatment equipment (Reverse Osmosis, UV sterilization, Water storage tanks: Borehole and water treatment setup: rent etx

     

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