Energy demanding businesses
The demand for energy will continue to be on the rise. There is no doubting this, we even saw meta strike a long term deal for this. year in year out, decade in, decade out, the value and demand for energy keeps expanding. Big cities need it to make it look like one. We are entering into the era of blockchain tech, AI and a follow up humanoid, how will we cope?. How much energy does Bitcoin mining currently demand, complexity is making it higher. businesses need it to perform routine tasks.
Speaking of business, this is always a big puzzle to solve especially when you are living in an environment with poor electric supply or at the other end, high cost of electricity. How do you fit in and stay profitable? It has been one of those things I have to tackle as an entrepreneur in a not too sure economy as ours. Mostly we have to depend on national electricity and when it goes bad, Boom!!. You can't tell a customer you don't have light, how embarrassing that can be. This is also you belittling your business, you have to get your generator on the way and get things going.
There were times when such expenses were no big deal but it is currently, the cost of gases fuels are expensive. Be it PMS or LPG, both will tear out your expenses wallet and to run a whole business in a day surmounting thousands or naira just going for only electric current generation. We haven't even come to man power. Managing a multipurpose brand with laundry, sewing section and a branding section is ALL energy demanding. You'll need to use the washing machines and the irons.
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For a perfect sewing line, you will have to prioritize the industrial sewing machine. Keeping up to quality can be very choking. As a brand we need it, that's what will keep us in business as long as possible. How about branding, those heat press machines will need to be turned on to meet the needed duty. So I can say I am in an all-energy demanding brand. This is something I have come to take notice of. To be more polite, I feel a little concerned as to if I would have opted for a less energy demanding sector.
I TRY to compare my online activities with offline and I mostly see this gap. There is a big difference in energy demand; both manpower and machines. Take for instance, writing on Hive requires at least a mobile phone and an Internet connection. A mobile phone is a one time purchase and tariff plans can't be compared to the cost of fuel to run my business.
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Do I even need a generator to work on Hive? A power bank or two can last for two days plus in the absence of general electricity. I could get them charged by a vendor for a few bucks.
This is something I have to take a closer look at, our next incorporation should not be energy demanding. I am looking for a way to balance these odds. Expenses on energy can be vexing especially when you can't skyrocket your service price to tally. Being an entrepreneur is understanding the flaws and how to cope with it. I told my co-partner that our business texture is not soft. What I mean here is that it take a tough procedure to deliver services and we need to look for ways to salvage it by bringing in soft medium incorporation.
To conclude, let me add, I am working on balancing this current challenge. High energy demand is cutting into our revenue and we have to expand to cover this. This expansion need to be into areas that require little to no electric usage at all. One of those sectors could be affiliations, something I am working on. Or perharps, consumables that wouldn't demand freezer storage.
Till then, let me advice upcoming entrepreneurs out there, weigh businesses well before venturing in, the issue of expenses mist be well tackled. Yes, expenses is part of business but make sure it doesn't swallow too much of revenue, always find a way to stay profitable. I am not against the brand we are building anyway, it will prove it worth in the long run (when influence is built and there is price control). Nevertheless, till then, we have to secure cash flow. Our business economy has flared up and energy seems to be taking so much of it.
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