Steem solar June report: After one month
Hi folks, I have actually been trying to put this up in the blog, but my life have become even more busy than before. Now , I am doing much calculations
and trying some ideas, and all I can say is "it's all about my business". But I think it's for good.
Ever wonder how "Steem solar and electricals" business has been going for the past one month of launching? Maybe, I might be putting this every month like a kind of feedback or report.
I know most good friends would want to know this...., so here we go..
The past one month wasn't so much of a rollercoaster ride for Steem solar and electricals.
The past one month( June, 2024) in my region was not quite sunny but rather rainy which significantly affected the business a bit.
But I would say it was my first month in the business and didn't go so bad either. I made few bucks though.
Sales
During the month of June, the business has generated some interesting revenue. For example,
Solar sales / installation - #3.6m (three million, six hundred thousand naira) approximately 13,358 Steem
Electrical sales/ services - #500,000 (five hundred thousand naira) approximately 1855 Steem
Solar lights sales - #200,000(two hundred thousand naira) approximately 743 Steem
That's a total of #4.3m (four million, three hundred thousand naira) and approximately 15,956 Steem.
These figures weren't exactly the target for the month considering the effort I have put.
I reinvested this to the business, I've bought some batteries, inveters and panels. So, I'll say, the money recycle.
But I believe in subsequent months to come, these figures will surely improve. I just need to put it extra efforts the coming months.
Completed projects
During the month of June, 2024, I completed 2 solar installations which costed about #3.3m ( three million, three hundred thousand naira) which is approximately 13,358 Steem. But trust me, these where at subsidized rate as a welcome package to gain customers. Those connections and networking are very important at this initial stage.
A
Installation of 1.1Kva solar inverter at Abak road, Uyo
B
Installation of 3.5Kva solar inverter at Barracks road, Uyo
Client Acquisition
During the month of June, 2024, I have made a total number of 25 new clients/customers of which 4 are Steemains . I have written something about them few weeks ago.
@adylinah patronized me last month and promised to make more referrals. I am still waiting Adylina ✋ 😀 Thank you so much.
@Skinnyblack patronized me and has given me 3 good customers. Thank you so much.
@eliany and husband has been patronizing me and they have given me 5 successful clients. And she has been doing extensive promotion of my business on her WhatsApp and other social media platforms. Thank you so much.
Other clients prefer it private, and I would respect their opinion. They don't want me to post them..., I wonder if they are owing their landlords 😀🤣. Just kidding.
This is a huge milestone because this relationship will definitely yield good fruit sometime in the future. I am not in a hest neither am I thinking of making the same figures like 'Bill Gate' in my first month of business 😀.
Partnership and collaboration
I have partnered with manufacturing companies such as Haus Strom from India , Anern solar from China and we had a deal to buy products in bulk so as to get it at a good discounted rate. However, these are some future plans while getting smaller units now.
We also have a deal on customized solar panels and batteries with the company's name (Steem solar & electricals) written on it. I have mentioned that here in the blog few days ago as my dream if I was to have $25,0000.
I have linked up with many other installers in the city and outside the city, just incase of huge contracts.
Challanges faced
During the past month, here are the basic challenges I've encountered:
Funding: This is my greatest challenge at the moment. The business of solar and electricals requires intensive capital especially for starters. I need to invest in different panel of different wattages , same with Inverters. I do not have Hybrid inverters and sack Inverters.
Competition in the market: Recently there have been an increase in the number of individuals venturing into the business and it has affected pricing and margins. But I would say, this is still cool too, atleast clients are interested in quality product and services.
Supply chain: At the moment, most of my goods are ordered from a far location, this has posed some logistic challenges.
Weather: The business thrives best in sunny conditions, its been raining the past month and it has impacted quite negatively on the business. However, my solar is still ON and serving me well since the day I install it in the shop...😀
Achievements
I have created some great impressions when it comes to solar in my city.
My customer base is getting larger and in a period of one month, I have acquired more than 20 reliable customers/clients who are comfortably referring me to thier friends and colleagues.
- I have made atleast 45% of sales in the past 1 month
Future outlook
I would buy more affordable products in electricals.
I would increase my quantity rate to benefit on larger discounts
I would invest much on panels, solar flood lights and inverters. Ofcourse I would get more batteries as prices might be higher few months from now.
I would attain some solar innovative conference and seminars to add value to my business.
In the future, I will acquire more courses on solar renewable energy and maybe, I'll do my internship in one of the biggest solar production company .
In conclusion, it's been a beautiful one month experience in the business, I look forward to achieving greater heights in the business as well.
I want to express sincere gratitude to all my friends who supported me to actualize this business through their valuable votes, sharing of beneficiaries, advice and moral supports. I am also grateful to the steemit team and sponsors for their relentless support and contribution to the growth of the business.
To all the business people in the blog..., do you have any suggestions for me..? Is it a good growth. I would be so grateful to read your suggestions in the comment section. Thank you.
Steem solar & electricals
(8th July, 2024)
(CEO/MD)
Ubongudofot
 |  |
|---|---|
In my opinion, this is a good start. I hope the sales volumes will increase. You rightly pointed out that at the beginning of a business it is more important to develop a client base than to make a profit.
Thank you so much. I have applied alot of carefulness at this early stage and I have been so keen and curious to know what is coming in and what is going out in my business. That's why I like the record keeping.
Client/ customer base is just the best and important as it would help me get a good cash flow.
Every business has its setbacks especially for those just starting, it's a step at a time.
For now, it's good to build good customer relationship by delivering quality service when you have opportunity to, put in your best in customer satisfaction and watch your business grow.
I wish you all round success in your business endeavors
Thank you very much. That's more like a business women advice and trust me, I really appreciate and would maintain that.
I'm happy you considered it useful
But I'm not so much of a business woman though😀
But now that you've mentioned it, it won't be a bad idea🤭😀
Thank you for the Steem Solar Business Report!
Obviously, I would say that; the business went well in the first month. Hopefully, there will be rapid sales and growth this month and beyond.
For my referral, I have distributed the business cards, they will definitely patronize with time .
Many success to you in your business!👍🏻
Thank you so much for your support and patronage , really appreciate.
I hope for more business deals in the future..
Thank you for sharing this detailed report, it actually shows you know what you are doing, is good you have a record of your business.
Your goals/plans are all good and I wish you Jah's blessings in your business. May you grow higher in this business, I'm proud of you and I'm supper happy for this progress.
Don't worry you will overcome your challenges and carry out all your plans.
Wishing you success always
Every bussiness faces challenge at some point but consistency and honesty is the key and in the past weeks i have seen consistency in your part keep it up sir it will pay up soon