Money Management for Creators & Hustlers: How to Take Control of Your Finances

Image
In today’s gig economy, many creators and hustlers, whether freelancers, artists, influencers, or side hustlers, are redefining how income is earned. While working for yourself brings freedom and creativity, it also comes with financial uncertainty and complexity. Without steady paychecks, benefits, or HR departments, you’re responsible for every cent earned and spent. If you're a creator or entrepreneur building your own path, managing money wisely is non-negotiable. Here’s a guide to help you budget, save, and thrive even with inconsistent income. 1. Budgeting for Inconsistent Income One of the toughest parts of being self-employed is dealing with fluctuating income. Some months you might make double your usual rate; other months, it’s radio silence. The key is to build a baseline budget that covers your essentials and prepare for low-income months. Tips: Know your bare minimum. Calculate the monthly amount needed for rent, food, transport, bills, and loan ...

BUSINESS ANALYSIS WITH CASE STUDY OF NOKIA MOBILES

                              THE MIGHTY FALLING OF NOKIA PHONES 


                                                Image source: nvmybrand.co.za
Nokia, once the world’s largest vendor of mobile phones, is a popular Finnish information technology and communications multinational corporation which provides telecommunication equipment and services.
The mobile phone brand, famous for the reliability and durability its phones provide, has ruled the mobile market for many years with its motto ‘connecting people’.
Recently, the handset division and services of the brand were acquired by software giant Microsoft and since then Nokia has released several phones under the Windows umbrella.
                                                  Image source: piecetelephone.fr
So, keeping all these points in mind, let’s do a SWOT analysis of Nokia, to get a proper analytic view of the brand’s strengths, weaknesses, opportunities and threats (SWOT). Strengths Let’s start with the first part of SWOT analysis of Nokia which is strengths:

S= STRENGTHS

The biggest strength of the company is its brand name. Many consumers often opt for Nokia more than any other brand because of the reliability, durability, and creativity their phones provide. Most of Nokia’s highly qualified personnel have teamed up with Microsoft’s experts as a part of the acquisition deal.
The phones provided by Nokia have a much higher resale value compared to other mobile phone brands.
Many of Nokia’s products are easy to use and are usually coupled with a variety of handy accessories.
Products offered by the company are available in all price ranges.

W= WEAKNESS 

The next part of the SWOT analysis of Nokia is its weaknesses undefined.
The company, though, is often criticized for poor after-sales services. Took a long time to enter the highly productive and booming smartphone market; as a result, the company lost a lot of its once huge market share.  Some of Nokia’s products are not affordable for middle and lower class consumers, which often affects their searches negatively.

The Finnish mobile company has made comparatively lower profits due to a drop in sales that result from tough competition. According to statistics, the company’s profits have fallen by 7% in the second quarter of 2014.

There are slumps in the company’s development with its Windows Lumia range of smartphones because of constant competition from rivals Android and iOS.

O= OPPORTUNITIES

Opportunities after discussing the internal factors of SWOT analysis of Nokia, let’s shift our focus towards external factors:
The Microsoft-Nokia deal is a win-win situation for both companies. The deal possesses great opportunity if both properly utilize resources.
Opportunities to expand the range of products and their prices; also bring in new features and applications on to Windows iOS

T= THREATS

Threats the final part of SWOT analysis for Nokia is the threats:
Strong competition from other smartphone companies will make it hard for Nokia to maintain and expand their market share. Low-cost threats by China mobile companies and others can cause big problems.
So, after proper SWOT analysis, we have come to the conclusion that Nokia is going through a tough time in the market due to a variety of factors. However, with Microsoft and Nokia personnel teamed up, there is no doubt in saying that many of these problems can be overcome if Nokia strategizes, plans and uses its resources properly.



Thanks for reading.
kindly share if this article was informative. Until coming your way with another interesting publication, remain blessed.






Comments

Popular posts from this blog

ABOUT BLUME DISTRIBUTION LIMITED

WHAT YOU NEED TO KNOW ABOUT BLUME NIGERIA PRODUCTS

HOW TO GROW YOUR MONEY WITH THE RIGHT INVESTMENTS : Mutual Fund Investment

Recently

5 TOP SECRETS TO BECOME A SUCCESSFUL ENTREPRENEURIAL

ABOUT BLUME DISTRIBUTION LIMITED

The Mindset of Money Makers: How Wealth Begins in the Mind

Side Hustles and Freelancing in 2025: Your Guide to Earning More on Your Terms

Foundation for Financial Empowerment: How Money Flows in the Economy

SKILLS YOU NEED TO SUCCEED JOB HUSTLE