Friday, September 23, 2011

Business Tips For The Weekend

This is the Amala and Ewedu in grandmama's plate. I have tried to get the pictures uploaded after my post but it never happens. always comes before my post. Anyways these r some of the pictures i took with my phone in the Amala joint.Sales girls. They are in charge of the Ewedu and the beef stew. They were excited I was taking pictures. Although this picture doesn't show that they are.
This one had the money. This was where you had to pay after telling them how much Amala, and meat you wanted.
This is the Amala pot. They will ask you how much and you will say maybe #80 or #100 or more. I took #80. The generator by the side is the Amala joint's own. I just couldn't believe that they had a sound proof generator. Guys this is an Amala joint I am talking about oh.


Hello everyone.. Love all your comments on my last post " My first kiss". It was so nice. Thank you. Do keep them coming and never stop.

Anyways to the topic of today: I just stumbled on a few business tips and I thought I should share it will y'all.

Yesterday as I was driving through Ikoyi I flagged down a newspaper vendor and asked for the "Complete Fashion" Mag. (Lol although he was a newspaper vendor I didn't bother to at least glance through the newspapers he had...very bad). Anyways after reading through the editor's piece I found out that the magazine will be sold for #1,000 (i.e. about $6) from the month of October.

The Genesis Delux Cinema is always full on Wednesdays because movies are #500 (i.e. about $3) all day. Some of my friends watch all the movies they want to watch on that day. They can watch a total of 3 to 4 movies a day, especially when they don't have anything to do.
A few weeks ago I went to watch CRAZY STUPID LOVE and I found out that they had increase their price to #600. Movies on wednesdays are now #600. (i.e. recommended movie... Crazy Stupid Love).

Are you getting my drift here?

In the business world especially when a new product is being launched, you have to be careful with your pricing. More often than not, the goal to make profit, isn't their main concern. Their main concern is to get the product out there, loved by the people and get a product that will be in high demand. So companies just try to break even. Breaking even means: making sure you et back at least the money you invested in the business. Then subtly, as the goods or services are being accepted by the consumers, the prices can now be adjusted. This is usually done in a way that the clients will not feel they are being ripped off, still satisfied and in love with the product or services and the companies are also satisfied with making profits.

Moral of the day: don't start any business with the main aim of making profits immediately. Do it subtly and eventually after breaking even the profits will come.

N.B. Even if "Complete Fashion Magazine" costs me an extra #300 I will still buy it cos guess what I am hooked.

Anyways let me amuse you with pictures I took of an Amala joint in Surulere. My pregnant friend took me there. (You know how pregnant women can be). I was surprised. They are really making a killing in the Amala joint. And u need to see the caliber of people that come in there. Well dressed..looking funky and enjoying their meals

Do take care of yourselves and have a lovely weekend.