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MUST READ: Great Business Advice From Joe Banker

noreply@blogger.com (Anonymous) — Fri, 28 Feb 2014 18:34:00 +0000

Keep debt low and your shoes polished.
Angelo Barr, Norwood Partners LLC, Boulder Colorado
My best advice came in two pieces, and both have helped keep my business/career healthy.
1) “It’s almost impossible to go broke if you have no debt.” This has been a focus of mine in business and in my personal life. I realize that having debt is part of life for most of us, but I’ve worked very hard to keep it to a minimum. It’s helped me keep the business open through the tough years, especially during and after 2008, and it’s allowed us to focus on our goals instead of worrying about owing money.
2) “You have to look sharp to be sharp.” You don’t have to have the most expensive suit or shoes, but look professional if you expect people to view you as a professional.

Learn to speak well, especially to a group.
Kyle Kumpf, Value Focused Growth LLC, Dubuque, Iowa
Sounding confident and competent in what I'm saying to customers is one of the most important things for running and operating my business. I specialize in Lean coaching and culture change. This is a challenging task as many people are hesitant to shift their thinking, and poor speaking can make this more so. Crafting my ability to speak clearly and confidently has lead to more business and better professional relationships as well as personal growth.

The best way to fail is to try to please everyone.
Myrna Marofsky, The Business Womens Circle, Minneapolis, Minnesota
I actually got this piece of advice from a book of quotes about leadership. It’s forced me to listen to my intuition and to do what I believe is right, knowing I can never make everyone happy. Of course, I need to know the "con's" to my ideas, so I deliberately select my critics. I look for input from those who give me honest feedback and insights. Then it’s up to me to determine my best course of action.
The biggest change in my behavior as a result of this quote was to stop reacting to what the last person I spoke with told me. Now, I let everything "percolate" before I act.

Everyone needs to get paid. (Including you.)
Bill Rozga, Rozga Plumbing and Heating, West Allis Wisconsin
Thanks to my first bookkeeper for giving me these three pieces of advice. Because I follow them, I’ve never missed an employee pay period or bounced an employee paycheck, and the government does not come knocking on my door:
1) Early in my company’s life, cash was so limited that I would skip myself from the payroll. Bad habit to get into! Pay yourself each pay period (no matter how small the amount), just as you do your employees.
2) Create a separate Payroll account that your Master account feeds each pay period. Include all withholdings as well as the gross dollar amount of each employee’s wages. This way, you’ll never be short when it comes time to “pay the man.”
3) Never, never ever forget or skip employee withholding payments to the government, or fail to make these payments on time!

Find a full-service bank and develop a relationship with a banker. Now.
Bill Callaway, Servpro of Ozawkee County, Mequon, Wisconsin
My best advice comes not from someone else, but from my own experience.
Many banks make it easy to set up a business account, but don’t offer much in the way of services to go with it. Our original bank was like that, so they couldn’t help us much when we were starting up. We waited two years before signing on with a full-service bank. What a difference!
Now, whenever we have a financial situation—maybe we need to lease a car—we call our banker for assistance. My advice: Don’t wait! Make finding a good bank and a good banker a priority right as you start your business.

You want to know more about Jeo Banker, click here

Tired of Your Work? Small Business would do!

noreply@blogger.com (Anonymous) — Fri, 28 Feb 2014 18:01:00 +0000

Tired of your current job? Honestly, is actually not a new thing.Millions of people today are not happy on their job. That is the reason for the increase use of the abbreviation "TGIF". So, are you currently one of those individuals who really feel continuously burned out with work? It's like there isn't any a lot more progress or fulfillment in what you're performing. Frequently, you just appear like a robot programmed to do the function routine over and over again If this is what it's been like for really some time, why don't you contemplate a brand new job or an entirely unique career path? Or far better yet, put up your own business, where you will be your own boss and at the exact same time, you'll oversee every thing that the business entails.

Putting up a business even a tiny one like a popcorn or snow cone stand might be a significant challenge. There are a lot of factors that you simply have to consider and look at. But in spite of the heavy work, you will find it to be very satisfying not only financially but also when it comes to personal fulfillment. It's a key achievement which you would surely be proud of. So what do you need to put up a little but profitable business? Here are a number of the first steps to consider after the cut....

Step 1 - Make a decision on your business undertaking

This is naturally, the very first thing which you need to do. When choosing a business type, you need to consider several aspects. One is profitability. It doesn't make sense to go for companies that won't earn you any cash mainly because your business won't survive if that's so. Food stands like popcorn and snow cone outlets are on the best of the list when it comes to profitability.

Subsequently, you also have to pick something that you get pleasure from performing. If you are a foodie, a food stand could be an excellent selection. If you're a pet lover, you may wish to open a pet shop. In case you enjoy computers, try selling these gadgets. Not surprisingly, you also have to know one thing about the business that you're putting up. If not, it is far better to brush up your understanding on it so you do not lose your way around.

Step 2 - Think of a name

Then you also will need to think of a name for your business. Think of something catchy, creative, and interesting. But in the very same time, the name ought to also be relevant the business and must be brief and basic enough to stick towards the minds of your possible buyers. Go on the net to come across numerous concepts for names that apply to your business of option.

Step 3 - Organize the requirements

Subsequently, you need to organize the requirements. Putting up a business would demand application for business permits and a lot more. It can be ideal that you consult a business professional as a way to have a thorough understanding of this procedure. Don't be discouraged by this step. Although there are loads of paper work, every thing could be worth it in the finish.

Step 4 - Raise the capital

Then not surprisingly you also need to to raise some capital. This could be for the rental of the spot where you'll be putting up your business at the same time as for the purchase of the factors that you'll be working with. Obtaining a bank loan is one selection but you need to calculate your finances properly to ascertain just how much of a loan you'll be able to comfortably afford.

Step 5 - Start.

Do not forget that all these steps mention could become useless if you don't start. So, start by making a move towards what you want to do.

Book Focus: Dream it! Do it! Live it! 9 Easy Step to making things happen for you.

noreply@blogger.com (Anonymous) — Thu, 27 Feb 2014 10:13:00 +0000

Dream It, Do It, Live It!

9 Easy Steps to Making Things Happen For You

...........................................................................................................
Richard Newton and Ciprian Adrian Rusen
©2013 Richard Newton and Ciprian Adrian Rusen
Adapted by permission of Capstone Publishing Ltd. (A Wiley Company)
ISBN: 978-0-85708-456-9

Bankconnect weekly book introduction focuses on the work of Richard Newton and Ciprian Adrian Rusen; Dream It, Do It, Live It!, Everyone has dreams, but not everyone is able to achieve them. Achieving a dream takes work, but it can be fun too. The book is more like an advisor to you on how to make your dream more clearer to you. In Dream It, Do It, Live It!, Richard Newton and Ciprian Adrian Rusen explain how people can make their dreams come true, over and over again, by following nine easy steps. Based on real-life experiences, personal insights, and practical tactics, the authors offer a simple and proven system for turning dreams into reality. So, guys, go check-out the book.

Protect Your Business From Email Phishing Attacks

noreply@blogger.com (Anonymous) — Mon, 24 Feb 2014 13:57:00 +0000

Phishing (pronounced 'fishing') simply means fishing for information - usually sensitive/ valuable information such as credit card details etc.

Phishing is a form of social engineering, a technique where cyber attackers attempt to fool a person into disclosing sensitive information.
These attacks often begin with a cyber criminal sending you an email pretending to be from someone you know or trust

These emails entice you into taking any of the following actions:

Clicking on a link
opening an attachment
giving out sensitive information

Characteristics of phishing emails

Generic greeting: they are sent in large batches. Internet criminals use generic names.

Forged link: Roll your mouse over the link sent and see if it matches what appears in the email. If there is a discrepancy, don't click on the link.–Safe websites to enter personal information usually begin with "https" — the "s" stands for secure. If you don't see "https" do not proceed. Requests personal information: If you receive an email requesting your personal information, it is probably a phishing attempt.
Sense of urgency: They do this by making you think something has happened that requires you to act fast. The faster they get your information, the faster they can move on to another victim.

Aim of phishing emails
Harvesting Information: users are fooled into clicking on a link which leads to a website asking for sensitive information (such as your login and password, credit card or ATM number). The websites looks legitimate, with same look, imagery and feel of your online bank or store.
Infecting your computer with malicious links: If the link is clicked on, the user may be directed to a website that silently launches an attack against your computer and if successful, will infect the system

Infecting your computer with malicious attachments: emails with malicious attachments, such as infected PDF files or Microsoft Office documents. If you open these attachments they attack your computer and, if successful, gives the attacker complete control.

Scams: These are attempts by criminals to defraud. Examples include notices that you’ve won the lottery, charities requesting donations after a recent disaster or a dignitary that needs to transfer millions of dollars into your country and would like to pay you to help them with the transfer.

Protecting Yourself
Do not click on links indiscriminately. Hover your mouse over the link. This will show you the true destination where you would go if you actually clicked on it. If the true destination of the link is different than what is shown in the email, this may be an indication of fraud.

Be suspicious of email attachments and only open those mails that you are expecting.
If something seems suspicious or too good to be true, it is most likely an attack. Simply delete the email.

If you get a suspicious email from a trusted colleague or friend, call them to confirm that they sent it. Always use a telephone number that you already know or can independently verify, NOT one that was included in the mail. The person’s computer may have been infected or their account may have been compromised, and malware is sending the email to all of your friend’s contact. Beware!!!

Bconnect Readers Talk : Share your view!!

noreply@blogger.com (Anonymous) — Fri, 21 Feb 2014 10:51:00 +0000

The collaborative power of the many trumps the efforts of one. That is why we invite all Bconnect Readers to share their business, entreprenurship ideas and challenges. We value your input and ideas. Most importantly, you stand a chance to impart someone's life by your contributions.

So, once again, come on board and share your ideas, business barriers, and customer challenges,contributions.and advice. Send it to bankconnectblog@gmail.com or post your comment on this blog.

When Anyone can Sell Anything Online – Konga.com

noreply@blogger.com (Anonymous) — Thu, 20 Feb 2014 09:59:00 +0000

Today, anyone can actually sell anything, carry out any type of business, small, medium, or large online. Konga.com, Nigerian Largest online mall announces the opening up of its trading platform for all Nigerians to sell online.

To be a part of this revolution and receive valuable information, everyone can simply visit http://konga.com/sell to pre-register. Regular information on how to maximise the opportunity, processing and validation will be done on the Konga platform in the weeks leading up to the big launch.

This new offering which will be launching in the coming weeks will cater to the needs of not only big wholesalers/ retailers, but even the road side/ market traders in Surulere, Alaba, Aba, Onitsha, Kaduna, as well as enterprising individuals across the country with amazing products but no hope of expansion or scaling.

This marketplace will revolutionize the way buyers and sellers interact, with a model that is more convenient for the seller and more attractive to the buyer. It will create unlimited opportunity for the Nigerian entrepreneur, small business owner or even large business owner; it will serve as the great equalizer/nation builder, boosting employment, trade and powering economic growth and development in Nigeria.

Sim Shagaya, CEO of Konga.com had this to say about the new platform;

“About a year ago, we realised that for our services to be really valuable to society, we had to build a platform for anyone, not just Konga, to sell and prosper. We launched this platform to a limited number of sellers and in that time, we have learned how to build a truly revolutionary Nigerian online marketplace.

Today we are pleased to invite all Nigerian businesses - great or small, designer or farmer, producer or trader, sole proprietorship or limited liability, - to sign up to this new platform - Konga Marketplace.

We will be opening up in the next few weeks and we think you will be pleasantly surprised by what we have built”

The internet is changing retail around the world, and the winners will be those that embrace the internet revolution. Konga.com will provide the tools, awareness and security for entrepreneurs and businesses across Nigeria who want to benefit from the immense benefits of expanding their businesses online.

Forbes magazine's 10 Leading Family Businesses In Africa

noreply@blogger.com (Anonymous) — Tue, 18 Feb 2014 17:19:00 +0000

Forbes Magazine just released their list of the 10 Leading Family Business In African and Nigerian Nigeria Dantata and Ibru Organization made it on the list.

1. Remgro

Year Founded: 1941

Founder: Anton Rupert

Country: South Africa

2. Pick n Pay

Year Founded: 1966

Founder: Raymond Ackerman

Country: South African

3. Dantata Organization

Year Founded: 1910

Founder: Alhassan Dantata

Country: Nigeria

4. Ibru Organization

Year Founded: 1957

Founder: Olorogun Michael Ibru

Country: Nigeria

See, the rest after the cut.

5. METL Group

Year Founded: 1960

Founder: Gulam Dewji

Country: Tanzania

6. Bakhresa Group

Year Founded: 1963

Founder: Said Salim Bakhresa

Country: Tanzania

7. Bidco Oil Refineries

Year Founded: 1970

Founder: Bhimji Depar Shah

Country: Kenya

8. Madhvani Group

Year Founded: 1918

Founder: Muljibhai Madhvani

Country: Uganda

9. Ramco Group

Year Founded: Early 1940s

Founder: Rambhai Patel

Country: Kenya

10. The Kenyatta Family Business

Year Founded: Late 1960s

Founder: Mzee Jomo Kenyatta

Country: Kenya

How to determine the right bank to do business with?

noreply@blogger.com (Anonymous) — Mon, 17 Feb 2014 10:19:00 +0000

In a society were everybody do almost same thing, banks are not left behind. a colleague once said it right "We all do same thing, market same thing and to same people ". So, how can an average individual determine the right brand to do business with, or that would hold their finance. I have been part of the banking business for some years. I can attest to you,that the reputation of a bank and their small business travels quickly, and this can have both a positive and negative impact on our choice of brand to go for.

Listen
Regardless of their size, banks promote their brand through advertising in different journals and media outlets. They communicate their brand promise through advertising, but by listening closely to business owners in your area you can learn which bank takes care of business owners best. Listen for information on programs/products they offer, credit culture within the bank and the service they provide. There is no better way to do that than to listen. In any business circle ask the owner who his banker is. In your market you will begin to hear certain names repeated over and over again.

Ask Question
It is very important that you ask question before dealing with any bank. Drive your question to align with what you want, your business needs, the business environment needs. How strong is their brand? Who are the management? Are they strong enough to manage my finance? Are they Customer friendly? etc. You should note that banks promote their brand through advertising in different ways, and so, you should not allow your question to be biased by their promotions and advert.
Choosing a good bank and business banker is not about how catchy the ad is . It comes down to finding a partner that has weathered and reacted to events in your city or market. Try to get a sense for the consultants that are especially good at listening. If you pay close attention to the details you should find the right bank and business banker for your needs

Product
What are the product that they offer? does their product suite your business? A strong and reliable bank would drive their product to suite the business need of their Customer. Therefore, drill further for the right product!!

Bankconnect is back!! Share your fun pix and get an Airtime.

noreply@blogger.com (Anonymous) — Fri, 14 Feb 2014 09:27:00 +0000

They said LOVE is in the air. We all in Bankconnect are happy to announce to all our BC readers that we back with love. We are back with bold love. Now here is what we are offering our readers as a come back gift; Share your Val picture with Bankconnect and get an Airtime. Send it to bankconnect@gmail.com, with your phone number.

TODAY'S TREASURY INFORMATION

noreply@blogger.com (Anonymous) — Thu, 20 Jun 2013 12:55:00 +0000

SALE TO CLASS B BDCs only
*Please note that autonomous FX sale is subject to availability and closes at 1.30pm daily*
	*CROSS RATE*
USD/NGN		162.50
GBP/NGN	1.5733	255.66
EUR/NGN	1.3438	218.37
*Kindly note that maximum weekly limit is now $100,000.00 or equivalent in GBP and EUR*

YOU SPOKE WE LISTENED - GTBANK

noreply@blogger.com (Anonymous) — Thu, 20 Jun 2013 06:31:00 +0000

Guaranty Trust Bank plc, as a Proudly African and Truly International Institution, have set up a dedicated website with URL.http://www.youspokewelistened.org where you can anonymously air your thoughts and conerns, whilst making suggestions on how best they can sustain the brand Guaranty Trust Bank plc as a Proudly African and Truly International Institution.

Go check it out.

TODAY'S TREASURY INFORMATION

noreply@blogger.com (Anonymous) — Tue, 18 Jun 2013 16:02:00 +0000

SALE TO CLASS B BDCs only
		*CROSS RATE*
USD/NGN			163.5
GBP/NGN		1.58	258.41
EUR/NGN		1.34	219.42
*Kindly note that maximum weekly limit is now $100,000.00 or equivalent in GBP and EUR*


CBN CLASS B LICENSED BDC RATE

	158

DID YOU KNOW THAT YOU CAN BECOME A LANDLORD FAST BY ACCESSING A MORGAGE FACILITY FROM FEDERAL GOVERNMENT

noreply@blogger.com (Anonymous) — Tue, 18 Jun 2013 08:06:00 +0000

How long have you been desiring to become a Landlord? Here is the national structure that can make that easy for you.The National Housing Fund (NHF) ownership structure of 50% of the equity for Federal Government,30% for Central Bank of Nigeria and 20% for National Social Insurance Trust Fund, was established in 1992 through the National Housing Fund Act and was mandated to collect 2.5% of the salary of all workers either public or private and warehouse them in the Federal Mortgage Bank of Nigeria for provision of cheap and affordable housing for all conbributors.

Eligibility & Condition

Contributors must have a registered account under the NHF with the Federal Mortgage Bank of Nigeria (FMBN)

Each individual contribution to the scheme must run
Application forms for the NHF loans are obtainable for at least six(6) months from the PMI
Applicant must have a satisfactory evidence of flow of income to guarantee loan repayment
Loan amount are determine by the applicant income.

Documents required to process a loan include:

I.Completed application form

ii.Copy of title documents

iii.Current valuation report on the proposed property or Bill of Quantities(BOQ) for the house to build

iv.Three(3) years tax clearance

v.Evidence of NHF participation

vi.Copy of pay slips for the immediate past three (3)months

vii. Equity contribution of 30%, 20% or 10% depending on the loan amount

HOW TO APPLY

Contributors are to apply through a duly licensed and accredited Primary Mortgage Institution (PMI) of his/her choice.Applications cannot be made directly to the FMBN
Application forms for the NHF loans are obtained from PMI

LOAN AMOUNT AND AVAILMENT

N15,000,000.00 30% equity contribution

N10,000,000.00 20% equity contribution

N5,000,000.00 10% equity contribution

SECURITY FOR THE LOAN

The property for which the loan is sought will serve as security and must have a valid title document e.g. Certificate of Occupancy

The property shall conform with existing planning laws and regulations(approved building plan)

The property shall possess sufficient value to recover the loan

The mortgage property shall be insured against hazards

The loan shall be secured by first legal mortgage of the property between the applicant and the PMI and assigned to FMBN

MODE OF REPAYMENT OF LOAN

Maximum repayment period for the mortgage loan is 30 years.

Loans are repaid on monthly installations from the monthly incomeof the beneficiary.

Repayment shall be made through the PMI where the loan was secured.

F.A.Q's

Question

What happens to my previous contributions if I change jobs?

Answer

Contributions are not lost as NHF accounts are transferable from old to new employer. Contributors will be required to notify their new employers of their NHF account numbers upon resumptlon.

Question

Apart from building a house,what else can I use the NHF loan for?

Answer

NHF loans can be used to make outright purchase of a residential house and to renovate or expand an existing one(the loan is strictly for residential houses).

Question

How can a low income earner get collateral for the NHF loan?

Answer

The only collateral required is the property in question;no other collateral is needed to secure the NHF loan.

Question

How many times can I get the NHF loan?

Answer

You can obtain the NHF loan facility once in a life time.

Question

Can I obtain NHF loan to purchase a piece of land to build a house?

Answer

No,a prospective applicant who wishes to obtain a loan to build a house is expected to have his/her land as well as acceptable title to the land prior to the application for the NHF loan.

DIAMOND BANK LAUNCHES NEW CAMPAIGN - You Need a New Bank

noreply@blogger.com (Anonymous) — Mon, 17 Jun 2013 15:38:00 +0000

Diamond Bank has finally launched new campaign to undoubtedly claim its position as one of the leading financial institutions in Nigeria- providing customers with tangible financial solutions tailored specifically to suit their lifestyle.

Following a successful brand refresh in November 2012 where the Brand saw changes in its colours moving away from the monosyllabic greys and dark tones to more vibrant colours, the motive was to make the brand more approachable in line with its’ positioning as a leading Retail bank in Nigeria.

For more than twenty years, Diamond Bank has built equity as a strong reliable salient bank. Relatively unscathed by the upheavals of the Nigerian Banking sector in the 1990s and more recently, the Bank is now considered one of the foremost banks in lending to customers, SME banking and corporate banking especially in the oil and gas sector.

In a highly delicate and competitive banking environment with little or no product differentiation and where products are easily replicated, Banks must seek to clearly define their role and product positioning. Diamond Bank’s new media campaign “You need a new bank,” reminds customers of the power of choice especially when it comes to choosing a bank. As customers are becoming more discerning of banking products and services, the Bank is putting a stake in the ground- armed with a portfolio of products and technology to produce faster and more efficient services, the question becomes ‘’why do you stay with a Bank that does not meet your needs?” said Ayona Trimnell, Head Corporate Communications, Diamond Bank Plc.

The concept for the new campaign has been developed in collaboration with X3treme Media a young dynamic Agency based in Lagos. The message, albeit intently challenging, pulls in humour and tongue in cheek dialogue to drive the message to the customer.

The campaign will be carried across all touch points- print, radio, outdoor and television.

UBA IN N5.4 BILLION TROUBLE!!!

noreply@blogger.com (Anonymous) — Mon, 17 Jun 2013 12:07:00 +0000

A securities trading company, Treasure Capital Trusts Ltd, has filed a N5.4 billion suit against the United Bank of Africa, UBA, for alleged income it lost as a result of a mareva injunction procured and executed against it by the bank.
In a suit filed before a Lagos High Court sitting in Igbosere, the company is demanding for the damages to assuage its loss, as well as the enforcement of the undertakings by the bank to indemnify the respondents in damages if it turns out that the applications for mareva injunctions ought not to have been granted.In the suit, with No. LD/464/2013, Treasure Capital & Trusts Limited claimed that its business was completely shut down for a period of about two years owing to its inability to perform any transaction on its accounts due to the mareva injunction.
It claimed further that it was unable to conduct its businesses as its entire accounts were suspended and all on-going transactions were truncated as there was no account to settle its transactions.
According to the company in its averment, it claimed that UBA Plc, sometime in 2011 instituted a suit against Mobil Workers (Eket) Multi-Purpose Co-operative Society Limited, where it joined Treasure Capital & Trusts Limited as a co-defendant inSuit No.FHC/L/CS/697/2011 for the enforcement of outstanding indebtedness of Mobil Workers (Eket) Multi-Purpose Co-operative Society Limited to it.
Subsequently, the bank applied for both interim and interlocutory mareva injunctions against the defendants to freeze the assets of Treasure Capital including all such funds standing to its credit with some banks, but gave undertakings to indemnify the respondents in the applications including Treasure Capital & Trusts Limited, in damages if it turns out that the applications for mareva injunctions ought not to have been made in the first place.

Culled from http://www.vanguardngr.com/2013/06/securities-company-drags-bank-to-court-over-losses/

PAMPER YOURSELF WITH MASTERCARD SPA OFFER

noreply@blogger.com (Anonymous) — Sat, 15 Jun 2013 15:24:00 +0000

When last did you pamper yourself. What a great offer. Guys let's go check it out.

GTBANK INTRODUCES SOCIAL BANKING

noreply@blogger.com (Anonymous) — Sat, 15 Jun 2013 15:02:00 +0000

Trust Gtbank guys!!!.
Guaranty Trust Bank has commenced Social Banking in a bid to avail
customers, staff and other stakeholders with another convenient and safe channel for banking
transactions.
GTBank Social Banking is a novel offering in the Nigerian Market, which in simple terms involves
enabling the public perform basic transactions via a secure application, while on Facebook:
With GTBank Social Banking, People can do the following while on Facebook:

Open GTBank Current, Savings, Seniors and other accounts

Perform Money transfers to any beneficiary that has a mobile phone in Nigeria

Purchase Mobile phone airtime

Have access to a 24/7 customer service team for enquiries and complaints resolution

Fill free to check it out from here: Gtbank Social Banking