Steem solar August, 2024 report: Roaring back to success

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When my dad called me a week after August, 2024ended and asked how my business was doing, I told him bluntly that it didn't go well for me during August.

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As a seasoned businessman with over 40 years of experience (though no longer doing business for the past 10years now), he offered words of encouragement to me.

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One quote from Winston Churchill he shared still resonates with me:

"Success is not final, failure is not fatal: It is the courage to continue that counts." - Winston Churchill

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And he adds his own...

"If you stop, you lose, keep going...better times are coming!"

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To me, those words were priceless and at the right time, infact I needed those words.

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Business summary for the month of August, 2024

August was a challenging month for Steem solar & electricals, with revenue decline and reduced profitability. Despite efforts to increase sales, I faced intense competition and low customer demand and this was just the 3rd month on this business.

It's almost like that of July, but I am forever grateful for all the experiences I've gathered last month.

I could remember, one old business friend once told me that I shouldn't expect good returns every month, otherwise I could suffer heart attack, this also align with what my dad said.

Sales

• No solar installation

• Electrical services - two hundred and fifty thousand naira (#250,000) which is equivalent to 935 STEEM. That's a little difference from the previous month. Atleast, this is one thing I am happy about for last month.

• Sales of panels and lights - three hundred thousand naira (#300,000) which is equivalent to 1,122 Steem

Project completed

No project was done during the month of August

Client Acquisition

Apart from the regular people coming almost everyday to enquire the cost of installing solar in their home, I had 5 serious clients who really want to install solar at their home.

So my customer base has now top up. And I have a WhatsApp group where I added all of them and so far, our communication there are very positive.

Achievements

• My customer base is increasing
• Atleast 20% sales
• I have signed three solar maintenance contracts with private residences utilizing industrial-scale solar systems (10 kW - 15kW) for routine maintenance and bi-annual inspections. This isn't much or highly paid in Nigeria as you may think, but I consider it as an achievement

• I purchased 10 big panels (400W) during August, 2024.

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August, 2024 was a difficult month for Steem solar & electricals, but I remain committed to adapting to market conditions and improving my operations.

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I am seeing great signs in September, hopefully, something great might happen, Yes, I am positive.

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As Katy Perry sang in one of her hit song tittled Roar", which happens to be one of my best tracks from her. I used to bite my tongue and hold my breath, scared to rock the boat." But I've learned that taking calculated risks and adapting to challenges is crucial for growth.