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Daybyday Network Marketing, Kampala (2026)

14/06/2021

HOW TO WRITE A EBOOK STEP BY STEP

1. During the planning stage
*Will it be a teaching tool for others? A book that does not add value to the public or readers should not be published! Find out what kind of books sell best.
* Is it a book for reading? You want to make sure the book is easy to read, with simple spelling and grammar.
*Are you able to make a profit from it? To ensure that your ebook attracts readers and generates sales, you should adhere to a few best practices.

2. Research
*Get marketing feedback by sending it out to a couple of people and asking them what they think!
*How much would you charge to sell it? Compare prices of ebooks in your niche on the market
* Ask people what they think about your product.

3. Development
* Use Canva to help with the design. Canva is a free online design tool that allows you to create beautiful graphics for eg ebooks.
* Encourage others to proofread.
*In addition, you should make a copy of it in case something happens to the original.

4. Distribution
*You can use a website, e.g. Wordpress users can install a plugin called WooCommerce, while SquareSpace users can use SquareSpace Commerce to sell online (must upgrade to Commerce version if you are to sell there). WooCommerce will then be able to create a 'Digital Product' from your pdf.
*If you want to sell your book on Amazon, you'll need to integrate a payment system such as Paypal Business Account or Stripe.
* You can also selling it on Amazon Kindle.

You can create your first E-book here bit.ly/3gkwCTq to sell anywhere using the no.1 ebook creator.

14/06/2021

Get Online tips, ideas and offers here

11/02/2021

HOW TO BUILD YOUR OWN WEBSITE IN 30 MINUTES WITHOUT EXPERIENCE OR CODING

1. Choose a domain name of your choice for your website e.g. www.name.com

2. Sign up with a web hosting service provider to host your website eg Siteground, Bluehost, Hostgator, GoDaddy and many others (Google).

3. While there at the domain hosting service, register your website name But first, use their search engine to check if your chosen website name is not already not taken, come up with another and or select from suggested names if you like.

Note: Hosting is not free you pay a manageable monthly or yearly fee.

4. Through the web hosting platform you selected, set up your website by selecting Wordpress web builder.

5. Customize and structure your new website i.e. choose a template, select fonts, download images, download widgets etc.

6. Nest add important pages and content.

7. Set up a navigation menu for your pages (eg Home page, About page, Contact Page, Product page etc.)

8. Add an online store (optional e.g. Shopify store).

Done.

24/07/2020

Challenges of Starting Your Own Business

What are the biggest challenges entrepreneurs face when starting their own business?
How do succeeneurs handle and solve problems in business?
Must an entrepreneur face these business challenges when starting a business?

If any of the above questions is currently running through your mind, then you are advised to read the top 10 business challenges you will face when starting a business from scratch.

If you are an entrepreneur, then I believe you will be familiar with the challenges associated with the entrepreneurial process of building a business from scratch. But if not, and you dream of becoming one someday; then I think you will find this article worthwhile.

This information is given to you for purposes of enabling aspiring entrepreneurs prepare in advance for challenges involved with the entrepreneurial process. It is never intended to discourage or scare you from going into business; infact, it is intended to achieve the opposite. You should venture into the business world and start your own business with a feeling of confidence.

1. Developing the Vision and Business Idea

Developing a business idea is usually the first challenge faced by every entrepreneur when starting a business from scratch. Finding the right business opportunity or creatively developing an idea is certainly not an easy task. I call “Envisioning the idea” the first true task of an entrepreneur. As an entrepreneur, you must possess the ability to see what others cannot see. While others see problems, you must see opportunities.

But seeing opportunities is just the beginning. The main business challenge is going to be your ability to forge that opportunity into a business idea. I see this as a business challenge because the process of transforming problems into business opportunities is like trying to turn lead into gold. I call it the entrepreneurial process of “Creating Value out of nothing”; a process that brings innovative products into existence. Below is an illustration of how the process goes.

Identifying a problem > seeing an opportunity in the problem > Coming up with a solution > Forging the opportunity into a business idea > Integrating your solution into your business plan

Developing a vision is definitely a business challenge because an entrepreneur must sometimes assume the role of a sorcerer. Let me explain in detail. Most individuals are comfortable with the present way of doing things but it is the duty of an entrepreneur to envision and forecast the future.

An entrepreneur must always be ahead of his time or else he will lose his relevance. It is the duty of an entrepreneur to bring into the present what is yet to be. It is also the duty of an entrepreneur to bring solutions to other people’s problems. Let me give you two practical illustrations:

Back in the days when cars were custom made and exclusively for the rich, Henry Ford envisioned affordable cars for the masses. That single vision made Henry Ford one of the richest men in history.
The Wright brothers envisioned a flying machine but they were massively opposed because the thought of humans flying was perceived as impossible. Today, the airplane is a common reality.
I believe with these examples, my point is clear. Developing the vision and idea is the first true task and challenge of being an entrepreneur.

2. Assembling a Business Team

The second business challenge you will face in the course of starting your business from scratch is assembling the right business management team. When I talk about a team, I am not talking about regular employees. I am talking about a “strategic round table business team” that will meet regularly to brainstorm on ways to grow your business.

The process of building a business team starts even before the issue of raising initial start-up capital arises. Remember I said that most brilliant ideas never scale through the phase of raising venture capital. Well, this is where most emerging entrepreneurs miss it. Most brilliant ideas and products never get funded because the entrepreneur is trying to raise capital as an individual. A business team is a vital, yet often ignored key to raising venture capital successfully.

As an entrepreneur, you are bound to have strengths and weaknesses. That is the more reason you need a business team to cover up or compliment your weaknesses. A team is a necessity for building a successful business. Now finding a business team is just the second hurdle, transferring your passion and vision to your team is the next. “If you can sell it there, you can sell it everywhere” just to paraphrase a well-known song by Frank Sinatra.

It’s your duty as an entrepreneur to make sure your team sees the same future you see. They must believe in your possibilities and must also be passionate about making that possibility a reality. If they can’t grasp your vision, if they can’t see the future with you, then they are not worthy being your team.

Your strategic business team should comprise your banker, your accountant, and any other seasoned entrepreneur that has the capability to be of tremendous impact to your business. A question on your mind right now might be “how am I going to pay this team” My answer is: I don’t know. You will have to figure that one out yourself or better still, you can consider bringing them on board as partners. The added bonus of this last option is that they have everything to gain from your success!

3. Raising Capital for your Business

After developing your idea, and getting your business team in place, the next challenge you are going to face when starting a business from scratch is that of raising capital. As an entrepreneur, you are the only one that knows your business idea to the core. You are the only one that can envision the story of your future. It is helpful though, to have a team behind you that knows your vision and is able to provide investors with extra information and a good feeling.

Trying to convince investors about something that doesn’t exist yet is definitely a challenge, especially in this time of economic recession. Trying to make them understand that you are trustworthy and equal to the task is not child’s play, especially when you are building your first business and have to prove the world that you are up to it.

There is more to raising capital than just simply asking for money. Most investors want to invest in already established businesses with minimal risk and they want to be sure that they get returns for the risk they took. Most brilliant business ideas never scale through the venture capital stage because the entrepreneur is either not prepared or lacks what it takes to raise the needed capital. Just as Robert Kiyosaki says:

“The world is filled with brilliant ideas and excellent products but the world lacks seasoned entrepreneurs.” – Robert Kiyosaki

To overcome the challenge of raising capital, you must develop the ability to sell your idea and vision to potential investors. When I say: “sell your ideas“, I mean improving your communication skills and your manner of presentation. In the game of raising capital, you must have a good story to tell, backed by a strong business plan, a good business team and good persuasion skills. You must know how to pitch angel investors and venture capitalists alike.

4. Finding the Right Business Location

Is finding a good location a business challenge? If you want to start a shop I’d say: yes! Otherwise I don’t know. But what I do know is that finding a good business location at the right price is definitely not easy. How do you get a location that has a rapidly growing population, good road network and other amenities at a good price? Well, you will have to figure out yourself. Nowadays many office buildings are empty due to the financial crisis, and rents are negotiable. Try to find a location where there are more starting entrepreneurs to split costs and help each other with infrastructure, leads and/or business.

5. Finding Good Employees

Most managers think the process of finding good employees is an easy task. They define the process of finding an employee as simply presenting the job description and the right employee will surface. But there is much, much more to it than that.

Business owners know how difficult it is to find a hardworking, trustworthy employee. Most employees want to work less and get paid more. Finding a good employee who will be passionate about delivering his or her services is quite difficult. Finding good employees is a minor task compared to the business challenge of forging your hired employees into a team. You may have great employees but if they can’t act as a team, they are worthless and will yield nothing but stagnation. A football team may have great players but if they fail to play as a team, their combined possessed skills are utterly useless.

Employees are the representatives of your business to your customers and the outside world. They are a reflection of your business culture and ethics. If just one of your employees rude to just one of your customers, it is going to portray a bad image for your company. Remember: Bad news travels fast! So you must be very careful when hiring employees. Remember the golden rule of business; “Hire slow and fire fast.”

Teambuilding and hiring the right employees is a science. When you start your own business, find a Taylor Protocols Consultant (yours truly) to get you off at the right foot!

6. Finding Good Customers

The sixth challenge you will face in the process of starting a small business from scratch is finding good customers. Note the keyword “good customers.” In the process of building a business, you will come to find out that there are good customers as well as bad customers. You must be on guard for bad customers. Good customers are really hard to find. A good customer will be loyal to your company and will be willing to forgive you if you make a mistake and apologize. A good customer will try to do the right thing that will benefit both him/herself and your company mutually.

Bad customers will always look for loopholes in the company’s policy to exploit and make a few gains. Bad customers will always try to exploit the company’s goodwill and look for ways to rip off the company. Bad customers are responsible for bad debts.

Good customers build your business and bad customers will always try to liquidate your business. Just as you fire employees, you must also be prepared to fire bad customers without hesitation. Don’t invest all your time and effort on customers that simply are not worth it! A beautiful saying goes like this: “Don’t get up on a dead horse and say: Giddy-up!”

7. Dealing with Competition

Competition is the next challenge you will face when starting a business. Most individuals see competition as a plague but competition is seen by some as a good challenge. We see competition as a benchmark for creativity, the main engine that stimulates innovation and production of quality products at great prices. Without competition, there will be no innovation and without innovation, your business will become stagnant.

Competition is seen as a welcomed challenge and you should do the same. Competition keeps us on our toes and drives us to constantly improve our products and services. But you must be warned. Competition can make your business lose its relevance in the eye of your customers so you must always be on guard and on top of your field.

8. Unforeseen Business Challenges and Expenses

Just as a pilot is always on the watch for unpredictable bad weather, thunderstorms and technical failures, so a good entrepreneur must always be prepared for whatever may occur. Unexpected challenges can come in the form of:

- Not being able to make payroll
- Bad debts from customers
- Loss of market share
- Unpaid bills and taxes
- Inadequate stock or inventory
- Unexpected resignation of staff from sensitive positions
- Dwindling working capital

These business challenges, if not handled properly, can ruin your plan to build a successful business. Another challenge you must expect is an unforeseen increase in business expenses. If not handled properly, it might result in constant negative cash flow and eventually: business failure.

9. Keeping Up With Industrial Changes and Trends

Change in trends is a challenge you must be prepared for when starting a small business. Trends have made and broken lot of businesses. We know a lot of profitable businesses that have been wiped out by slight industrial changes and trends. A typical example is the Dotcom trend of the mid-nineties, where many established businesses were wiped out by emerging web based Dotcom companies.

When the Dotcom era began, business owners were left with only two options; Either they joined the Dotcom train, or they got run over by the Dotcom train. Seasoned entrepreneurs know that a trend is a friend and they are always willing to swiftly adjust their business to the current trend.

Keeping your eyes open to spot trends is really a challenge but the big task will be your ability to quickly use the trend to your advantage. These days, we can see the same thing happening in the retail business. Traditional shops that don’t have a webshop are having a hard time surviving.

10. Exiting the Business

When building a business from scratch, you are going to face the challenge of determining your exit strategy. You have to plan your exit strategy before you even start the business. Most entrepreneurs run their business without any plans to exit and even if they have an exit strategy, they find it difficult to implement it.

Before starting a business, it is advisable to plan an exit. Lack of an exit plan is the primary reason why most businesses crumble after the death of the founder. An exit strategy is very important to the longterm survival of a business. Now how do you plan an exit strategy? There are benchmarks you can use to determine your exit from any business. Most smart entrepreneurs will use a certain benchmark as a target and once this specific target is reached, they exit the business.

Examples of such benchmarks are:

- Annual Turnover
- Annual sales
- Customer base, subscribers or number of users
- Asset Base
- Market Saturation

Now when it comes to exiting a business, there are three strategies you can apply. You can choose to exit a business in any of the following ways:

Turning over the business to professional managers

When your business reaches a certain stage of maturity, you can exit by turning it over to professional managers. In this case, the business still belongs to you but you are not involved with its day-to-day affairs. You will have to give up your administrative role to assume the role of a watchdog. When you exit in this manner, you will have more free time to look at other projects or retire.

Selling the business privately

In this case, you are exiting the business by selling it to a private investor. In the business world, it is called M&A (Mergers and Acquisitions). To exit your business this way means that after the sale and transfer of assets is complete, you have nothing to do with the business ever again.

Taking the company public

The unique thing about this type of exit strategy is that while you are selling your business (in the form of shares) to public investors, you still maintain control over the business. Important! Before you apply any of these exit strategies, it is advised that you strongly to consult with your attorney or legal adviser. But ultimately, it’s up to you to decide the exit strategy you want to apply; but always remember: “your exit is more important than your entry.”

As a final note, it should be stated clearly that challenges come only to make you stronger; so don’t faint in the face of challenges. Stand tall; keep moving your business forward and we will see you at the top, because we are all going there!

Source: From Jelmer of Legacy Consultancy

08/07/2020

8 Challenges Faced by Small Business and How to Solve Them

Owning and running a business is a frightening thought for most people, especially when you consider how many problems you might face along the way.

Having the idea is often the easy bit. Starting and managing it successfully along the way is the hardest and scariest part. The first two years of your business are crucial and most small companies do not make it. Those brave enough to do it have to manage every aspect from employees, marketing, admin, accounts and, perhaps most importantly, making sure they don't miss out on any leads!

1. Cash Flow Issues

Money problems are often the ones that entrepreneurs are most afraid of, and for a good reason. There are a lot of incoming and outgoing transactions that you need to take care of in order to sustain your start up. At the same time you have to manage all of that whilst meeting deadlines.

The solution is to track every transaction, keeping a simple forecast and keeping it strict. Don't ignore it. That kind of bookkeeping can save your business. Hiring an accountant would be the best and an obvious option, but since you are just starting out, it is understandable that you probably cannot afford it. But do not worry, there are other solutions.

With the technology developing, there are a lot of software options for tracking payments, creating invoices, managing cash flow and so on. The software can warn you when a payment is due, update your bank statements and file your VAT. There are also some business strategies you can implement such as asking for a down payment, every time you receive an order. Also, it is always worth asking your customers for faster invoice payments. As for your vendors, try to have them extend your payment deadline. With the right strategy, you can overcome cash flow issues.

2. Avoiding burnout

If you are a small business owner, you probably want to do everything by yourself. You knew your product or service, you can do it quicker and better than anyone else.

But that is probably going to cost you. Not your money, but your health and family relationships. Often, burnout and stress can make you quit everything completely, and you don’t really want that. In order to avoid this, it is best to learn to delegate your tasks, and maybe even hire some help, whether full time or for just an hour a day, it is your choice.

Let them help you with the simple things that take a lot of your time and let yourself focus on the more important parts of your business. Remember to clearly voice your tasks when delegating. Communication is the key to a successful working relationship. You don’t need to do everything and remember, you are not giving up control, you are just getting help.

3. Finding and retaining customers

As you probably already know, the key to finding customers is to have a product that is unique and that can satisfy their needs. So, do a little market research, find you target group, see what their pain points are and how you can resolves this for them.

Also, marketing plays a big part in your business. Choose a popular media platform to advertise your business and keep it simple. Make your statement brief but something that would stick in your customer’s mind, since mind positioning is half the job. You should also be available as much as possible, so that you can reply instantly or at least in the first few hours. Do not use automatic responses, make those e-mails personal and trust that they will know the difference. For special potential clients, where you think you can earn well, you can always offer a demo service just to give them a taste of what working with you would look like.

Social Media is a good way to engage and interact with your target audience. Skilled Social Media Assistants can help you to formulate and implement a coherent and curated strategy that will bring your brand or product to the right audience.

Don’t be shy and feel free to ask current customers to recommend you to others, because there is no better marketing than a happy customer. Their unique experience will be the best commercial.

A way to keep customers is to have a great service coupled with the best price. This sounds like a very obvious thing to say but keeping that value-for-money policy constantly on your mind will guide you. You can again do the research, but this time focus on the existing customers, ask them for feedback, see just how much you earn from them and how much is the service actually costing you. Focus on your best customers, learn from their example and you will profit more.

If you have a negative comment, get right on it. Call the customers personally, ask them specifics about what bothered them and offer compensation in a form of discounts, gifts, etc. It seems like a lot of trouble, but it is worth it. Negative comments will not lead to good word-of-mouth, which is something that can make or break a business.

4. Relying too much on one customer

Understandably, even one good, large, paying-on-time customer is great news for a new business, but it can also be a problem. And that is the fact that it’s not making you a business owner as much as a contractor. It can be very difficult to stop focusing on that single customer and try to find new ones that might not be that reliable, but it is necessary.

All sorts of problems can occur, and even that one big client could stop needing your product. That is where you start needing other small clients to help you keep your business afloat if that big one stops paying. Many of our customers use us to build a database of leads.

5. Growth vs Quality

There will come a time when your business is growing and it is growing at a pace that is not allowing you to focus on every customer yourself. Hence, you will feel like the quality will start to decrease. And that is a moment when you need to make some key decision to hire or even to outsource help. Usually, it is that personal touch that made your business a success in the first place. But, do not worry, not everything is lost. It is a challenging decision, but it does not need to mean that the game is over. You can have both.

Choose the right candidates for every position in the company and pass on your knowledge freely. Share your vision and goals with them to help them understand what you want to achieve and pass on all the information you can to empower them. Once they understand, they can focus on the customers as much as you did, and also allow your business to grow.

But never forget, customer focus is the most important!

6. Motivating Employees

By now you are aware that good employees are needed for a successful business and they are not found easily. It is not that hard finding the answer to what motivates a good employee. You are thinking, it is either a good paycheck or some other form of incentive. But not many entrepreneurs understand that there is so much more to it. It starts with you, the boss.

Communication with employees should be open and in a decent manner and to be approachable is a must. Anyone working for you whether directly employed or outsourced should feel they can talk to the management. Also, simple little things such as tea, coffee, sodas, cookies, bread, milk and fruit are cheap ways of making staff relaxed and thus, more productive and motivated to work.

Feedback is of crucial importance. Understanding employee’s needs is a must. Many companies do not do that and are unaware something is wrong, but later find themselves wondering why people are quitting.

7. Too many overheads

Having too many overheads and not being able to deal with them accordingly is what makes a lot of companies fail.

This is where previous existing customer research comes in handy. That way you already know what your customers need and what is not necessary, thus cutting your expenses. You could cut the expenses say on the packaging, making it simple but keeping the quality of the product that is probably more important to your customer.

These expenses could also be a new laptop in an office, a new printer, coffee machine, etc. You could lower the prices on some of the products that do not sell that well, but those discounts need to be well thought through so that YOU benefit from them as well as the customer. For example, 5% off if they make the payment in advance which may also help your cash flow.

8. Staying up to date

To keep your business, you need to be on the same page with what is trending. That is the only way you can measure up with the competition. Also, this one is not that hard, and it would only take as much time as you want. Set aside time, whether it is one hour every day, week or more only you can know. But make sure you keep up with the trends. Read newspapers, blogs, Twitter, set up your Google Alert and you will manage to keep your business from falling behind.

Another way of being out there is through conferences, exhibitions, seminars anywhere your target group is. Mingle, network and you will discover new things, learn about them and get noticed whilst you are at it.

Author: Thomas Smallwood from bizee.co

26/06/2020

How To Start A Business In Uganda

In Uganda today, a good number of young people are looking to start up businesses with hopes of earning something. Uganda has a great number of opportunist young people with almost 10% of them starting up businesses, a 1/5th of whom are failing before the end of the year. As a young person who seeks to be successful, one should know that starting a business is a risk and this involves strategic planning, key financial decisions, a series of legal activities, et Cetera. However, these 10 steps can properly guide you on how to start a business in Uganda.

Step 1: Make Business Research

Let’s assume you already have a desirable business idea right at the back your mind, now there’s need to benchmark and try to match it with reality. Is your idea feasible? Is there a possibility of it succeeding? Is your business going to going to solve any problems of fulfilling a certain need? How best can you know this? Do a market research through focus groups, prospect customers, talking to those who have succeeded and maybe trial and error this will help you weigh your idea. Now through the market research the following questions will be answered;
Is your anticipated product actually needed by the people?
Who needs it?
What is the competition like?
How will you beat the competition?

Step 2: Write A Business Plan

Remember proper planning prevents poor performance. A business plan is a summary of how you (the entrepreneur) intends to organize and implement the various activities necessary and sufficient for the venture to succeed. This ideally makes planning one of the most important aspects if one’s venture is to succeed, therefore an entrepreneur should spend quality time to come up with a standard, feasible and visible business plan.
A business plan is intended in answering the following questions;
How much will it cost you to provide this product or service to my customers?
How will you increase the volume of your business?
In what ways will your business offer a better deal than your competitors?
What kind of people will you need to hire?
Can the work be done without these people?

Step 3: Source and Plan For Finances

To begin with, before seeking financial help you need to create a budget for your initial period. This will guide you on what amount of money you need and where to allocate it. Your budget should cover;
Company Registration Costs
Rental costs
Capital for Inventory
Salary
Bills
Transport among others
Next, if you do not have financial resources, take advantage of the various existing financial options say a bank loan, personal savings, parental support or investors that understand you want to start a business.

Step 4: Choose A Business Structure

Your business can be a sole proprietorship, a limited liability company or a limited company. Whichever entity you choose, have it in mind that it has a big impact on the types of taxes you are bound to pay, the number of individuals you employ plus the business name. If you are not knowledgeable enough on which entity or structure to take up be wise to consult a lawyer or colleague that has done this before before you take any steps.

Step 5: Register Your Business Name

Picking a business name should be thought through critically, normally an individual is made to apply for the picked name by Uganda Registration Services Bureau. The name is then searched through a database to pass the similarity, desirability tests to ensure it’s availability. If results show similar names then another has to be used until it passes this stage. In the case of successful results, this is your green card to start a business any day.

Step 6: Aquire Business Licenses and Permits

A variety of licenses and permits apply to different businesses depending on the class of the venture and location. One may need to make thorough research to understand what license and permits apply to his or her business. Note that this paper work is very vital before one can legally start operating so it’s highly advisable to have a lawyer in the presence.

Step 7: Select A Business Location

You need to choose whether to buy or rent your working premises, where to work from home or move to public space. Not forgetting there’s a new option taking Uganda by storm which is sharing work space through hubs that support young people looking to start a business. Plus you will need to choose whether to locate near the market or the source of raw materials all intended to reduce on the costs incurred in production. You need not to forget that all these considerations depend on the type of business you are venturing in.

Step 8: Recruit / Arrange Your Team

If your business requires you to recruit workers, it’s at this point that one has to recruit, however an entrepreneur should take his/her time, identify the various positions to be filled plus stipulating their responsibilities and the skills needed by those to fill these positions. If it’s a sole proprietorship and you are going down the business lane alone still you may need to organize your team including your mentor-ship, family or business coach all who will support in the process.

Step 9: Start the Business

Now that almost all that is required is in place, you have recruited the appropriate team, and the work place is set. Get back to your schedule book and close the planning stage in preparation for business opening stage.

Step 10. Market / Promote Your Business

Now that your business is up and running, you need to lay strategies on how to attract more customers to your business. Remember you are the business owner, you know best who your customers are so only you can best understand how you want to be noticed by them in the market.

Once all this is done, consistently work towards bettering your venture each and every day that passes but keeping in mind that success does not happen overnight.

Source: HIRE THE YOUTH ORG

Daybyday Network Marketing

14/06/2021

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