Start-ups: Avoid Wastages

Entrepreneurs in setting up their business often seek to enter the arena with a bang, to create an image all in the name of “Branding” or doing something different to set them aside from the rest.  The expectations and zeal are so high, the adrenalin is pumping, and dreams are high but with low budget. Most of the time, the limited resources are expended on non-income generating activities and assets with the high expectation that income will start rolling from day 1.

Marketing

Marketing and Sales are synonymous and are crucial to the success of any establishment. No matter the volume of money, time and effort invested into a venture, it will soon fold up if it fails to generate sufficient revenue. Revenue can only be generated from selling your product and services.

THE PRINCIPLES OF INSURANCE

WHAT IS INSURANCE?

Insurance is a device for reducing risk by combining a sufficient number of exposure units to make their individual losses collectively predictable. The predictable loss is then shared proportionately by all units in the combination. Insurance is based on the law of large number. In essence, Insurance allows the individual insured to substitute a small but definite cost (premium) for a large but uncertain loss under an arrangement whereby the fortunate many who escape loss will help compensate the unfortunate few who suffer loss.