Book Title: Small Business, Big Money
Author: Akin Alabi
Year of Publication: 2017
Number of Pages: 223
Nothing is exciting about starting a business and people not buying from you. Nothing is exciting about putting all you have got into a business, trying to build it for years, only for it to fail. Nothing is exciting about not knowing how you will raise money to pay the salaries of those you practically begged to work for you and accept your less-than-minimum wage offer.
In a country like Nigeria, where many experienced and entrepreneurs are reluctant share their knowledge, small business owners frequently lack mentors and role models from whom to learn. It is one of the reasons Small Business, Big Money, a book by Akin Alabi, a long-time entrepreneur and now member of the National Assembly, is useful.
Many businesses have died on the altars of passion and good ideas because they lacked a clear plan for making money. Making your small business profitable today requires more than just being passionate.
Small Business, Big Money covers over 10 years of the author’s life which is condensed into just 200 pages of his wisdom. While the tagline of the book, How to Start, Grow, and Turn Your Tiny Business into a Cash-Generating Machine, may give the idea that it is a fast fix book, Alabi does not hold back when sharing ideas on turning small enterprises into profitable operations.
The author spares no details as he exposes the cruelty of doing business in Nigeria. He does, however, provide insight into what small and large enterprises must do to succeed in this environment.
Before revealing anything, Alabi warns readers with a fairly amusing disclaimer. He writes, “Any use of this material is at your own risk”. Despite the fact that he shares his experiences, he states that he accepts no responsibility for any loss, damage, or disruption caused by inaccuracies or omissions in the book’s contents. Such disclaimers are to be expected in such a book.
Small Business, Big Money tells the story of Alabi’s first online sports betting site in Nigeria, as well as the hard facts about some of his other agreements, fights, unique selling features, and how he has operated in the Nigerian market, in seven chapters.
Feeling down about your business failures? Alabi can make you feel better because he experienced multiple unsuccessful ventures prior to his significant breakthrough with Nairabet.
In this down-to-earth book, Alabi gives loads of step-by-step actionable advice to assist small business owners make more profit in his largely casual writing style.
The author explores several innovative business concepts, explains how to get noticed first in the marketplace, and guides the reader through the process of getting people to know, speak about, and patronize your firm. Many of the reasons small enterprises go out of business are highlighted by him.
He writes: “One of the reasons small business owners go out of business is because they keep reducing their prices due to competition forgetting that Nigerians are not looking for the lowest prices, they are looking for what they perceive as the best deal.”
Despite being aimed at small business owners, the secrets discussed are applicable to seasoned business owners in a variety of industries.
Overall, Small Business, Big Money is an excellent resource that can assist Nigerian business owners in overcoming some of the problems of doing business in the country and thriving far into the future.