Sustainability after School: Imperative of Entreprenueship and Professionalisim 2017 oyedokun
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Transcript of Sustainability after School: Imperative of Entreprenueship and Professionalisim 2017 oyedokun
SUSTAINABILITY AFTER SCHOOL: IMPERATIVE OF
ENTREPRENEURSHIP & PROFESSIONALISM
Being a paper delivered at the Re-union programme of HND Accountancy set
2004 of the Osun State College of Technology, Esa-Oke, NigeriaOn December 23, 2017
Chief (Dr.) Godwin Emmanuel, Oyedokun
HND (Acct.), BSc. (Acct. Ed), MBA (Acct. & Fin.), MSc. (Acct.), MSc. (Bus & Econs.), MSc. (FACI),
MTP (SA), Ph.D (B&F), ACA, FCTI, ACIB, MNIM, CNA, FCFIP, FCE, FERP, CICA, CFA, CFE,
CIPFA, CPFA, ABR, IPA, IFA CertIFR
+2348033737184, +2348055863944 & +2348095419026
President, ACFE Lagos Chapter
Chief Technical Consultant/CEO
OGE Professional Services Ltd
WORD ON MARBLE
“Don't let the opinions of the average man sway you.
Dream, and he thinks you're crazy. Succeed, and he
thinks you're lucky. Acquire wealth, and he thinks
you're greedy. Pay no attention. He simply doesn't
understand."
-- Robert G. Allen
FIRST THING FIRST
Take a sheet of paper
What of your PEN?
Ok take it too
Now,
write out at least 10 of your business ideas in order of
interest/priority
INTRODUCTION
For anyone who values financial security and
ultimately desires financial freedom, creating at least
one additional stream of income is no longer a luxury.
It has become a necessity.
Diversifying your income stream is crucial to protect
yourself and your family against the unavoidable ups
and downs of economic and industry cycles.
Because of the financial risks that come from relying
on one source of income, such as a job or a business,
consider creating at least one or more additional
streams to generate cash flow.
WORD ON MARBLE
“The easiest thing in the world is to come up with the
excuse not to do something. I found out that the most
important thing in life is to stop saying, I wish and to
start saying, I will….."
-- David Copperfield
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SUSTAINABLE DEVELOPMENT
Sustainability is said to be the practice of reserving
resources for future generation without any harm to
the nature and other components of it. Sustainable
development ties together concern for the carrying
capacity of natural systems with the social, political,
and economic challenges faced by humanity.
Sustainability science is the study of the concepts of
sustainable development and environmental science.
There is an additional focus on the present generations'
responsibility to regenerate, maintain and improve
planetary resources for use by future generations.
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SUSTAINABLE DEVELOPMENT
Sustainability is said to be the practice of reserving
resources for future generation without any harm to
the nature and other components of it.
Sustainable development ties together concern for
the carrying capacity of natural systems with the social,
political, and economic challenges faced by humanity.
Sustainability science is the study of the concepts of
sustainable development and environmental science.
There is an additional focus on the present generations'
responsibility to regenerate, maintain and improve
planetary resources for use by future generations.
PROFESSIONAL
A professional is a person formally certified by
a professional body.
One need to belong to a specific profession by the
virtue of having completed a required course
of studies and/or practice.
A professional is a person whose competence can
usually be measured against an established set of
standards.
He/she is a person who has achieved an acclaimed
level of proficiency in a calling or trade.
CHARACTERISTICS OF A
PROFESSIONAL
Professionalism also has to do with how you conduct yourself
during your business affairs.
True professionals possess a number of important
characteristics that can apply to virtually any type of
business viz:
Appearance;
Demeanor;
Reliability;
Competence;
Maintaining Your Poise;
Phone Etiquette:
Organizational Skills; and
Accountability.
CHARACTERISTICS OF A
PROFESSIONAL
The future belongs to the competent. We need to be
multifaceted in our competence and become charismatic
communicators with technical competence and excellent
people skills, especially in negotiating.
This means developing the habit of learning everywhere,
every day.
You inspire others, both personally and professionally,
through your actions and the environment you create.
When you are professionally accountable, people watch what
you are doing as well as listening to what you’re saying.
My dear colleagues, you will agree with me that working
with professionals is a pleasure, and I have been fortunate to
work with some truly exemplary ones.
There have been a few who liked to be treated as
professionals without having to work and act like one.
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MULTIPLE AND PASSIVE
STREAMS OF INCOME
Generate income from more than one sources.
Must be legal, otherwise, it would be termed
corruption.
A passive income stream:
Earns income for the owner without needing much more
additional effort.
Help to supplement your income because they are
inexpensive to create, low risk, easy to duplicate and any
time of day.
Could be earned on money you invest or property you rent
out, but many people earn it over the Internet.
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MULTIPLE AND PASSIVE
STREAMS OF INCOME
Motivating factors:
Flexible
Scalable
Sustainable
Enjoyable
Inexpensive
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DEVELOPING AND MANAGING MULTIPLE/PASSIVE
STREAMS OF INCOME
Consider the following points on developing and managing
multiple streams of income:
Don't quit your full time job, if you currently have one
Take advantage of your passions, hobbies or unique skills
Start a blog or a newsletter
Write a book, an e-book or just a booklet
Create a product
Earn rental income
Invest in a business as a silent partner
Purchase the rights to royalties
Invest in dividend securities
WORD ON MARBLE
“It is not what you do once in a while, it is what you
do day in and day out that makes the difference….."
-- Jenny Craig
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DEVELOPING AND MANAGING MULTIPLE/PASSIVE
STREAMS OF INCOME
Create a website or blog
Become an affiliate marketer
Sell information in the form of e-books
Offer advertising space
Refer visitors to businesses you trust
Focus on your primary passive income
stream first
Reinvest your passive income
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DEVELOPING AND MANAGING MULTIPLE/PASSIVE
STREAMS OF INCOME
Repackage your products
Hire someone else to manage existing
income streams
Affiliate marketing
Start a freelance business
Network marketing
Real estate
Royalties
Participate in surveys and paid focus groups
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DEVELOPING AND MANAGING MULTIPLE/PASSIVE
STREAMS OF INCOME
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DEVELOPING AND MANAGING MULTIPLE/PASSIVE
STREAMS OF INCOME
Focus first on passive income streams that you
create once but they continue to generate income
Next, focus on income streams that can expand
your business
Choose and set-up one income stream at a time
Wait until one income stream is up and running
before starting the next
Drop an income stream if it isn’t working
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DEVELOPING AND MANAGING MULTIPLE/PASSIVE
STREAMS OF INCOME
Establish financial security
Clarify your unique value
Identify your market
Build a community
Ask your community about their desires
Create a solution
Plan the launch
Find a mentor
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ADVANTAGES AND DISADVANTAGES OF MULTIPLE
INCOME STREAMS
Benefits of Multiple Income Streams
It’s easier to create several small income producing streams over
one large one. For example, it’s easier to create three streams that
earnN100,000 than one stream that earns N1000,000.
It reduces the risk of being left without any income. If you are laid
off or one source of income drops, you have other sources to help
you get by. Especially in home business, which has an ebb and
flow, you can offset the dry spells by having another source of
income.
It helps you avoid boredom in work by having different things to do
every day.
You can create income streams based on your interests, talents,
and passions.
WORD ON MARBLE
“Remember the feeling you get from a good run is far
better than the feeling you get from sitting around
wishing you were running…."
-- Sarah Condor
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ADVANTAGES AND DISADVANTAGES OF MULTIPLE
INCOME STREAMS
Disadvantage of Multiple Income Streams
It’s difficult to keep on top of all tasks that need to be done for every
income stream.
It’s a balancing act to give enough attention to each income stream
to keep them growing and profitable. Barbara Winter likens it to
plate spinning.
The start-up time for each income stream is time and energy
consuming.
It should be noted that even with the challenges, the benefits
outweigh the potential problems; especially if you build additional
income related your existing home business
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GENERATING BUSINESS IDEAS
Meet new people
Keep a “pain point” journal
Tap into your interests
Explore new ways of thinking
Travel
Go online
Do your market research
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SUMMARY AND CONCLUSION
Multiple or passive Streams of Income means one
generate income from more than one sources.
In this time of recession, professionals of your
caliber can not do but think as if there is no
“BOX” in order to general addition or better put,
multiple streams of income.
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SUMMARY AND CONCLUSION
A lot of people have interest in setting up a
business.
Most of these individuals have money but they do
not know what to invest in or what business to
start.
Now to the average mind, there seem to be
scarcity of ideas but in this presentation, it was
revealed that there exit abundant opportunities.
All you need to do is to work on your perception
and develop the ability to see these opportunities.
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SUMMARY AND CONCLUSION
Business ideas are all within you and within your
environment.
Some of these business ideas emanate from
analysis of market and consumer needs, while
others emanate from a long research process.
But the truth still remains that business
opportunities abound.
So if you are interested in starting a business, but
you do not know what product or service to sell,
then refer to this presentation for sources of small
business ideas and opportunities.
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SUMMARY AND CONCLUSION
The development that meets the needs of the present
without compromising the ability of future generations
to meet their own needs is concluded to mean
“Sustainable development” and it implies economic
growth together with the protection of environmental
quality, each reinforcing the other.
The essence of this form of development is a stable
relationship between human activities and the natural
world, which does not diminish the prospects for
future generations to enjoy a quality of life at least as
good as our own and he interest of our school (Osun
State College of Technology Esa-Oke).
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RECOMMENDATIONS
Whichever is the case, we had done our part as
students of this school at a time past and we are
set and resolved to continue to serve the school for
its developmental progress in committee of school
in Osun state and in Nigeria in general.
We then need to lead, represent and hold
ourselves in unity to enable a sustainable
development that our children unborn would be
able to inherit our good legacy.
This is Quranic and Biblical in Nature.
WORD ON MARBLE
“So why not get on the run today and achieve that
dream? That goal? That desire? Dream it, believe it,
pursue it and achieve it. "
-- CITN newsletter committee
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APPRECIATION
I thank you all for your rapt attention since.
Thank you for listening!!!
I would be available for any clarifications with
respect to this lecture and on any other issue that
would help us individual and collectively.