Mhubenterprise

noreply@blogger.com (Admin) — Fri, 24 Nov 2017 09:00:00 +0000

Cultism Is Scary, Branding Isn't 😂

The mere mention of the word cult is enough to give us a scare. 😔

The fear is not uncalled for as it is indeed true that we have more than one reason to be suspicious of the word. However today we can differentiate between a benign and destructive cult.

As entrepreneurs that would love to be great

It is always advisable to go..

Be Benign with your cult brand.

Rick Ross describes a benign cult as any group of people that are intensely devoted to a person, place, thing or even products!

But where the relationship between cult brand is harmless.

Entrepreneurs interested in creating a benign brand should note that...

Benign cults do not;

Harm or injure their customers either physically or mentally
Manipulate, hurt, exploits or brainwash their customers
Shut out everyone who doesn't fit a specific set of criteria

However Benign cult;

Welcome anyone who wants to belong.✅
Has no price on admission.✅
Encourages any simply enthusiastic enough to join.
Have accountable leaders to the brand whom value the feedback of their customers✅

How have you been running your business before now?

A good review of this would help you know where you stand and how you want to be perceived by your customers.

To learn more, Follow I Like I Share I Comment 😍

*******
Source: Bolivar J Bueno

Participation Mystique

noreply@blogger.com (Admin) — Thu, 23 Nov 2017 09:00:00 +0000

It takes courage, vision and dedication in order to successfully change how your business operate.

Cult brand is born when a group of individuals rally round a brand's lifestyle.

This happens when people feel bound to a brand because they feel it has become part of their identity

The customers are drawn together by a set of complex psychological factors that has been tagged participation mystique.

Is the customer identity is tied to your brand?

It is a powerful psychological force that allows the customer express a deeper part of their self.

So the price might have little to do with them buying the products.

This type of brands are successful because they allow;

Customers be who they want to be and not the person they are forced to be.

Cult brands provide a route to self- expression

That feels natural and Intuitive to their brand lovers.

It breeds a sense of belonging which is a core social need of humans.

Source: Bolivar J Bueno

Shun Merchant Mind-Set

noreply@blogger.com (Admin) — Wed, 22 Nov 2017 09:00:00 +0000

You have to let go of the Merchant Mind-set !

That s an exclusive focus on the short term bottom-line i.e.

An operation which too tightly focused on generating the next transaction.

Sun Tzu said "if a battle cannot be won, Do not fight it".

Are you battling for the next transaction you may win each day,

And in the end lose everything.

On the other hand, If you are battling to be great

You must believe In customer loyalty...

Which Is not a myth nor Lie
It is very achievable and attainable
Offer intangible benefits that exceeds price, selection and location
Building relationships with your customers

Never, ever, ever....

Do whatever it takes to squeeze one more sale out of your customers
Neither should you believe that low price means lowered quality
Consider customer service and support as an expensive endeavour

*******
Source: Bolivar J Bueno

Are you learning something new? Follow I Like I Share I Comment

Customer Loyalty

noreply@blogger.com (Admin) — Tue, 21 Nov 2017 09:00:00 +0000

Have you got repeat customers who offer good ratings, reviews, or testimonials?

If yes, then its a good place to be.

To enjoy more of these benefits,

Your business need to have significant competitive advantages:

The unique attribute that allows an organization to outperform its competitors.

This can be gained by offering clients better and greater value.

Goods and services would be perceived as high-Value Options.

One that commands premium prices or

Attracts customers at a higher rate

It will keep your customers for a longer period of time

Remember, cult brands are what customers...

Buy automatically
Tend to do more business frequently with such brands
Encourage Word of Mouth referrals between their friends and family

*******
Source: Bolivar J Bueno

Are you turning Customers into Loyal Followers? Do the needful today.

Building customer loyalty isn't easy,

But take steps In the right direction.

Your business will be better off.
If you need help - Ask me how!

Cult Branding

noreply@blogger.com (Admin) — Mon, 20 Nov 2017 09:00:00 +0000

Ever heard of this term "Cult Branding"?

According to Bolivar J. Bueno It is a sort of branding whereby the company commands fanatical loyalty from it's customers.

For example, Some customers tends to choose Apple's products exclusively

While non-customers most likely wish they could buy these products too.

And why is this if I may ask?

It is certainly not because Apple products are cheap, flawless or infallible!

Why then?

The secret to this is something your business too can offer your customers.

It's something so compelling, irresistible, that Apple and other huge companies

In various industries such as IKEA, Harley bikes and others use.

It is called the "power of cult branding".

Follow us to learn more,

As we share insights on what this book has to offer.

Remember to like, share and comment as we would love to hear a feedback from you!

Who Is Your Customer?

noreply@blogger.com (Admin) — Wed, 02 Aug 2017 22:08:00 +0000

Differentiating End Users and Economic Buyer

Customers are individuals, private or public organizations that pays for valuable products and services. This can either be an end user who uses the product or simply the economic buyer who decides to buy the product. Without a paying customer, there is no business.

There's a possibility that the customer can be both the end user and an economic buyer.

For instance, if a mother wishes to buy a day care service; she will be the economic buyer while the baby is the end user. In the situation where she decides to buy a bottle of water to quench her thirst on her way home; the mother becomes both the economic buyer and the end user.

You need to know your customer!

So it's easier to find them or help your marketing staff identify more paying customers.

The bitter truth is, you have no business without a paying customer.

Don’t jump on other people’s ideas, create yours or study the lapses in other people’s idea and offer a better option.

TIPS
1. FIND A NEEDY CUSTOMER
2. SEE THROUGH THE EYES OF YOUR INTENDING CUSTOMER
3. CREATE VALUE BY SATISFYING THE NEED OR SOLVING PROBLEMS
4. BE CLEAR, PRECISE AND STRATEGIC IN MARKETING
5. DON'T TRY TO SELL TO EVERYONE - FOCUS

There's no point wasting time creating a product or service that is not needed. Make no assumptions, ask questions from the needy customer so you can understand the best way of offering satisfaction.

Having a good feeling about an idea is not a good reason to launch out. To avoid disappointments of no sale, find out the gaps or pains prior to creating any product or service.

I often ask entrepreneurs "who is your customer?".

It's pathetic to get responses like "My customer is anyone willing to pay me".

This is just a No No.

It is definitely not the right way to go about starting nor running a sustainable business.

You need to be crystal clear, creative and extraordinary in thinking.

Sieve your idea and the possible markets till you discover that which you can dominate earning disproportionate returns in form of money for value created.

FOOD FOR THOUGHT:

Everyone appears to be selling the same product;

Who will be the buyer?

Dare To be different!

Outsourcing Benefits

noreply@blogger.com (Admin) — Thu, 27 Jul 2017 12:40:00 +0000

Focus On Core Activities

Every business faces some activities that cannot be met by internal resources.

Although, It's better to delay than rush to fail.

But if you can find a trustworthy partner

To serve your current business needs - go for it!

Do not under estimate the power of external challenges

Avoid your business being dominated by only one discipline

A broad range of experience in different industries can be applied bring a fresh perspective

Why would you not use specialist to develop your business projects?

What makes an orchestra great?

It is the conductor that brings together specialist musicians at the right time to deliver a command performance.

If speed to market is a key profit driver in your business, consider outsourcing.

This can make a significant and positive impact.

But never fail to fulfil your own responsibility as a leader.

Outsourcing helps businesses to grow and save money.

Are you anticipating increase?

Plan to outsource task that requires a specialist.

This may include bookkeeping, graphic designs, web site management etc

Perhaps, there's a need to engage the services of a business strategist or legal advisor.

Do not hesitate to do the needful.

The benefit of outsourcing outweighs the cost - trust me.

Marketing Planning

noreply@blogger.com (Admin) — Wed, 19 Jul 2017 21:00:00 +0000

Profit-Generating Plan

This is all about the application of marketing resources to achieve marketing goals.

Your marketing plan is a section of the business plan.

It's Uses

Segment markets
Forecast market size
Identify positions in the marketplace
Plan for a viable market share within each segment

Have you considered any of this marketing objectives?

Sell existing products in an existing market
Sell existing products into a new market
Sell new products in an existing market
Sell new products into a new market

Whichever you decide, ensure your objectives are always SMART

Specific: in-terms of value or market share
Measurable: -ability to confirm its achieved or not.
Achievable: with resources; people and investments
Realistic: avoid target that gets you demotivated if not attained
Time-bound: set timescale for achieving any objectives

Strategies ought to be your wide method of achieving any marketing objective.

They relate to products, pricing, adverting or distribution.

You may wish to consider any of the following types of strategy

Develop: Offer a wider range of products or services to existing client
Attack: Generate business through a new customer [Ask for referrals]
Defend: Avoid the loss of paying customers

Would you consider strategic pricing? Possibly

Maximising profits or
Setting a low price deliberately

The choice is yours!

Only select strategies that will best satisfy your objectives...

One that can easily be implemented with your resources and capabilities.

For proper implementation, convert your strategies into a program or action plan.

Develop an Action Plan

Your current position or situation
Aims: define goals - set targets
List steps involved
Person responsible
Start date
Finish date
Budgeted cost

You will need to further break down your action plans.

If you need help - ask me how? Comment below

Depending on the situation or opportunities,

You made need to prepare a brief plan.

Especially where you need to:

Target new sales area
Introduce a new product
Phase out an old product
Introduce a modified product
Develop sales into an individual export market

If there are any words still unclear to you, spend some time to find out the meaning.

Would you like to download a marketing plan template? If yes <<click here>>

All subscribers will receive a copy via email - signup now!

Trading Terms Explained

noreply@blogger.com (Admin) — Wed, 12 Jul 2017 16:56:00 +0000

Financial Information - Why do I need it?

Listed below are some simplified financial terms with a brief explanation.

Cash Flow Statement

This is a calendar that shows when CASH comes in and out of your business
It helps calculate how much money is needed to start and run the business
The impact of seasonal ups and downs can easily be seen
A smart way to work out how much borrowing you need
Above all, it shows the bank that you can repay the loan

Cash inflow: Cash received by the business
Cash outflow: Cash paid out by the business

Profit and Loss (P&L)

It shows how much PROFIT your business is making

"Profit is not Cash" and "Cash is not Profit"

The only figure you'll be taxed on is the net profit - know it

Sales/Turnover: Total amount invoiced in the period of goods and services supplied by the business
The Cost of Sales: All materials and expenses directly relating to the provision of the goods and services included in the sales period
Gross Profit: Sales less cost of goods sold i.e the amount generated by the business available to fund running cost and overheads
Gross Margin: Gross profit as a percentage of sales
Overheads: Operating expenses that cannot be directly allocated to producing the goods or services for sale
Depreciation: The amount by which the book value of a fixed asset has fallen during the period
Net Profit: The amount retained by the business after all expenses and overheads have been deducted

Balance Sheet

This will show your ability to repay any short-term debts
It reflects your assets and liabilities

Asset: Anything of Value that the business owns or is owed
Stock: Raw materials, work in progress and goods ready for sale
Debtor: Someone who owes money, goods or services to the business
Creditor: Someone the business owes money, goods or services
Liability: Money, goods or services owed by a business

Calculating your sales forecast

This is a practical way to see how many sales you'll need

Calculating breakeven & profit

Use this tool to learn how to calculate your break-even sales
It describes how discounts can have an impact on your profit
It will show the positive impact of price increase on your profit

Daily sales needed

A table which shows how many sales you'll need per day, week or month

Personal spending budget

Works out how much you need to take out of the business to live on

If there are any words still unclear to you, spend some time to find out the meaning.

Would you like to download a cash flow forecast template? If yes <<click here>>

All subscribers will receive a copy via email - signup now!

[REF: B-GATEWAY]

Blogging In Business

noreply@blogger.com (Admin) — Wed, 05 Jul 2017 17:45:00 +0000

BUILDING A CONTENT STRATEGY

How would you love to get the attention of an ideal customer?

I have succeeded In attracting many from Africa using my invaluable content.

Who are you trying to reach?

What's their age, sex, interest, location and online behavior?

I can easily define my target audience;

They must be between 18-30years, either male or female based in Nigeria.

My ideal customer must be interested in innovation-driven entrepreneurship;

He or she must be a tech-savvy individual with a teachable spirit,

A frequent user of Facebook, WhatsApp and Android mobile devices.

I am aware that my prospects are often on the move, so I keep my content simple.

Blogging is highly recommended for all business owners.

It's an easier way of educating my audience.

Be creative with multimedia.

Guess what? I am loving content recycling, it's a time saver.

Grammarly eliminates grammatical errors and enhances my writing.

A weblog offers a great opportunity to flaunt your knowledge and expertise.

Be committed to positioning yourself at the Go-To-Expert with your niche.

Use attention grabbing and relevant headline.

Avoid lengthy text, complicated vocabulary, and copyright issues.

Action Words and Adjectives often recommended for use in blog titles.

All your content should be hosted on a website...

And shared through social media or email marketing platforms.

All content created can always be converted into an e-newsletter.

Plan to drive traffic to your site; which is your e-office.

Be consistent.

Analyze your traffic.

While using analytics,

Do not forget to apply filters that will eliminate your IP address.

This enables you to get accurate data about your statistics.

To be honest, there's a lot more to learn about weblogs

Blogging involves a lot of trial and error.

It requires content planning and social media scheduling.

My content marketing strategy can only get better, find out what works for you.

I am making so much progress in blogging,

Learning something new each day.

If you stay connected I will share my learning outcomes with you.

FYI, I intend to start using Infographics and Yoast plugins to assist with SEO.

Yes - I am so tempted to migrate my blog to WordPress platform but

Blogger has its own benefit too. I'm still undecided.

Also, I am considering guest blogging.

What about you?

What is your digital marketing goals?

Perhaps,

You need help with any of the following;

What to write? Research, Focus on your readers.

Where to write? Select a platform that has more of your target audience

How to optimize your content? Research, use keyword planner, and analytics.

Tools that can help you create or share better content? <<Click here>>

Drop your comments below, I will respond to you as soon as I can.

Schooling Sells Better

noreply@blogger.com (Admin) — Wed, 28 Jun 2017 16:07:00 +0000

Never Try To Sell Without First Adding Value

Andy Harrington recommends

Every smart entrepreneur should...

Turn their sales process into educating session.

Remember, not everyone is ready to buy even if you are set to sell.

To make a sale, the marketing and advertising timing for each prospect must be right.

See your prospective client as a student - an individual that can be educated is key;

Irrespective of their buying decision.

Create an opportunity for anyone in your network to gain a valuable knowledge;

That can the begin to solve problems they might be facing.

Plan to give away free consultation with great content to potential clients.

If your audience is satisfied, many will return to purchase the complete solution.

Partnership In Business

noreply@blogger.com (Admin) — Tue, 27 Jun 2017 14:41:00 +0000

THE GUIDE TO BUSINESS COLLABORATION

Do you need to raise funds for your business?

When is it a promising idea to take out a loan to invest?

Would you consider partnering to achieve any funding goals?

How much of your business are you willing to sacrifice as shares?

What plans do you have in place to resolve conflicts with partners?

==================

IMPERFECT WORLD

================== Choose Partnership

As an entrepreneur, I am open-minded.

I am up for partnership or selling equity.

BUT...

Exercise caution in your business affairs, for the world is full of trickery.

But let this not blind you to what virtue there is; Source:

CHANGE YOUR PERCEPTION

Never mix business with personal matters;

It often leads to damaged relationships and poor business.

Never partner with someone that you can hire;

If you've got the idea and someone else has the skill,

Simply hire him or work out an independent contractor agreement.

Never engage a partner without written and signed agreement;

Get legal advisor involved. Be clear and transparent

Never start a business with partners without defining an exit strategy;

There must be flexibility for any to "walk away" or

"Buy out" the other party without impacting business operations.

Never forget; business first and friendships second;

Be open minded and prepared for change.

Never subscribe to partnership without defining the boss;

Every business needs a person with significant control.

Avoid 50:50, a simple solution is 51/49 split.

Delegate and let go…

Give some control away.

This is a critical skill for partners in business to succeed.

Don’t just raise the needed capital, share expenses also;

Keep records of the partnership's sales, takings, purchases and expenses.

Launching and running own separate business prior to collaborating is key to succeeding.

Who’s with me on this subject? Let’s discuss, comment below

Be Your Own Boss

noreply@blogger.com (Admin) — Wed, 14 Jun 2017 22:02:00 +0000

BUSINESS ESSENTIALS: STARTUP WORKSHOP

This accelerator program is designed to assist you in developing your business plans, business skills and future aspirations for growth.

Day 1: Awareness
This session aims to make you aware of the various requirements involved in setting up a business.

The workshop will provide you with the opportunity to network with other business owners and will also highlight useful sources of information, advice, and guidance.

Day 2: Business Planning
This session will help you create a robust business plan.

The workshop will look at:

creating a description for your business
the business planning process
efficient ways of obtaining skills and resources
presenting your business plan

Day 3: Marketing
This session will help you identify your customers, understand your competitors and plan an effective marketing strategy.

The workshop will look at:

the role of marketing in your business
identifying your target customers
identifying the strengths and weaknesses of your competitors
market research

Day 4: ICT In Business
This session aims to give you the knowledge to recognize where information technology can help you operate more effectively.

The workshop will look at:

identifying where your business could benefit from information technology
hardware and software requirements
planning your website and how best to market your business
choosing the right internet provider and service
keeping your data secure

Day 5: Finance
This session gives an introduction to the role of finance in business.

The workshop will look at:

managing a profit and loss account
producing a cash flow statement
working capital
the different sources of finance
the different legal structures of a business

Duration: 3 Hours per class

Location: Online

One to One Support:
A suitable time will be arranged to chat through your plan via telephone and conduct your market research together.

To sign up click here

Hurry, #Ade0RimsOffer ends this week; Saturday 17th of June at 23::59Hrs

Progression Plans

noreply@blogger.com (Admin) — Mon, 29 May 2017 04:24:00 +0000

Dear Mentee,

I am concerned about your progression plans.

I love to get more information from you for a proper situational analysis.

What's your trading start date?

When exactly did money start exchanging hands In Your business?

Have you defined your brand in the marketplace?

Is your business registered?

Do you own a corporate bank account?

Separate business from personal life;

Money
Contacts
Relationships

Are you registered as a tax payer?

Avoid Fines

Trade in a complaint manner

Has your business started creating jobs?

How many employees have you got?

Plan to recruit

The Business Development Manager

Have you got expansion and sustainability in mind?

What's your strategic growth plan for the next 3-5years?

Write the Vision

Make it easier for your team members (Partners, Staff & Funders) or the next generation to understand and continue with the project you have started.

DOWNLOAD A FREE TEMPLATE

CHOOSE;

Entrepreneurship not freelancing

Business ownership over self employment

Try create a system of solutions and delivery around your idea

Know your business costs

Forecast sales

Set Targets

Make money

Increase sales and maximize profits

Save money; reduce your expenses

Keep records

Take the business online

Be visible online and offline

Budget before executing

Include a web blog and professional email in the budget

Stop impulse buying

Plan before spending

Anticipate returns on investment

Create Value

Dominate; do not compete

Compare yourself with your past not with others

Ask the right questions;

Listen More

Get feedbacks from customers and end users

Focus on satisfying the end users of your products

Review your business plan, strategy, products and services continuously

Look out for collaboration opportunities

You need multiple paying customers

Promote Your Brand

Sell, Sell & Sell

Do NOT sell to everyone

Select a beach head market

Avoid time wasters

Save Time

Work smart

Automate systems

Start Small, Think Big and Scale Fast

Learn from failures

Enjoy your achievements and all plans

Keep interested in your career

Invest more in self development

Exercise caution in your business affairs

Be yourself

I care - stay connected

Your success is my happiness.

Next on Enterprise☆Hour

We will be taking business related questions with emphasis on import and export.

Guest Speaker; Amara Nnaji

Project Type:
International Trade Navigation

Do not forget to join the live chat

Every Monday 8pm

Location: Enterprise☆Hour

Drop Comments - Ask Questions Now

Expand Your Network

noreply@blogger.com (Admin) — Fri, 26 May 2017 09:03:00 +0000

Dear Mentee,

Most solopreneurs needs a shoulder to lean on.

Especially another ear that listens...

Possibly one that helps solves problems from own experience.

Without a paying customer,

You have no business.

This is the bitter truth.

Yet you need multiple paying customers, continuous patronage or repeat businesses

Collaboration is something else that may help achieve your business goals.

Buying from one another can strengthen your relationship and possibly help normalize business for newbies.

Do not shun positivity.

You all have different gifting which could compliment each other.

Focus more on the benefits this group has to offer.

Complaints and worries is often a time wasters.

I flee every form of negativity, condemnation or rejection.

This is a wise thing to do.

Entrepreneurship requires a lot of hard work.

You have enough to keep you busy.

A day or time off to participate in a meeting like ignite meet-up is worth it.

I can tell you that from my past experiences.

Meetings like this stimulates creativity especially if teams are carefully recruited.

This forum will not be applaud by everyone.

If vision of this group doesn't align with your core values.

Simply walk away,

Don't try take others along with you.

It will be an unfair thing to do.

Projects like this requires your cooperation and dynamic teams to achieve set goals.

You don't have to be the visionary or co-founer before you can add value.

Do something,

Stop nagging.

Someone must initiate something especially when solving problems for everyone.

Innovators created a place that allows you to increase contacts and expand your connections.

Why not enjoy it...

I hope you feel encouraged.

To the organizers,

Well-done!

Be flexible,

Share the vision,

Keep it simple for all

Encourage creativity

Innovate consistently

So you are able to bring more value to the marketplace.

Remember,

Impact first, money follows

See things from the eyes of your end users or beneficiaries.

Allow the flow of constructive feedback.

Fine tuning becomes easier.

Above all,

Encourage volunteering

Give members a sense of belonging.

Your best is yet to come...

I wish you all good success.

Offline Visibility Is Key

noreply@blogger.com (Admin) — Thu, 25 May 2017 08:25:00 +0000

Dear Mentee,

Ref: Networking Events.

Attendance is very important.

Why do you shy away from meetings?

How do you want to get known, liked and trusted?

In the bedroom? No - No

Starting, managing and growing a successful business is not all about internet marketing.

How long do you wish to remain a stranger within your local community?

If you ain't comfortable with existing meetup - start another but focus on creating value while differentiating yourself.

There's no point replicating products or services that is low in demand or already in existence.

-------

I bet your neighbors don't even know what you do...

How much more, your online connections believing your current location is as claimed.

I challenge you to attend the next meet-up within your locality irrespective of your busy schedules.

Thank you for adding value to my project.

I sincerely appreciate your patronage too.

I wish you good success in business.

Don't forget,

Compliance In Trade!

IDEA HUNT MEETUP

Looking for new ideas?

Need to fine tune or troubleshoot a project?

Business owners, would you rather innovate or let your idea DIE?

To register, click here. For more information, visit IDEA.MHubenterprise.com

Why Do You Start A Business?

noreply@blogger.com (Admin) — Mon, 22 May 2017 17:01:00 +0000

The complete version of this video is available via Enterprise☆Hour

To start a company,

You must be passionate enough to migrate into owning either a technology or an Idea.

What’s your motivation for considering entrepreneurship?

Could it be more of making an impact on the world?

Perhaps, you wish to maximize the use of your skills.

Possibly, you just want to be your own boss.

Different folk’s different strokes…

My journey into entrepreneurship has been a mix of the following scenario but

Idea in combination with passion has taken the lead.

So, what’s the diverse ways of starting a company.

==========

Idea Driven-Entrepreneurs

==========

The term “Market Pull” refers to a situation whereby

A requirement for a new solution to a problem prompted the start of a business.

The need is recognised by potential customers or as an outcome of a market research.

There is a proper understanding of the market implying lower risk but poor competitive advantage.

If and when problem is solved, the idea becomes rewarding.

===============

Technology Driven-Entrepreneurs

===============

“Technology Push” involves starting a company based on an innovative technology

Often derived from research and development in a laboratory.

In this scenario, a market research is not necessary.

Better described as a solution looking for a problem or a market.

It’s somewhat complex route but rewarding because of the competitive advantage.

============

Passion Driven-Entrepreneurs

============

Usually have a powerful desire to become an entrepreneur.

They wish to have a control on their destiny and test talents to the maximum.

It’s wonderful thing to have the passion however it is not enough to start a company.

Creating or joining a team that has got an idea or technology may be the preferred route.

Are you able to sum up your idea, technology, or interest in one brief sentence?

Coming Up Next on Enterprise☆Hour

FROM PASSION TO IDEA

I will be taking business related questions with emphasis on innovation driven entrepreneurship.

Join my live chat on Facebook

Mondays at 8pm

Business In Nigeria

noreply@blogger.com (Admin) — Wed, 17 May 2017 02:55:00 +0000

===============================
Challenges Doing business in Nigeria
===============================

While there are many opportunities for companies looking to do business in Nigeria, there are some challenges to be aware of. These include:

◇poor power supply nationwide
◇weak infrastructures across many sectors
◇some security challenges
◇government bureaucracy when awarding and paying for contracts
◇high level of corruption
◇high unemployment and poverty

===============================
The top 10 UK exports to Nigeria are:
================================

◇petroleum, petroleum products and related materials
◇power generation equipment
◇transport equipment
◇road vehicles
◇general industrial and office machinery/equipment
◇essential oils and perfume materials
◇medicinal and pharmaceutical products
◇textile yarn and fabrics
◇fruit and vegetables
◇beverages

====================================
Opportunities for UK businesses in Nigeria
====================================

1. Infrastructure

◇import and distribution of materials and equipment
◇hospitality and recreation real estate
◇warehousing, haulage and logistics
◇mass housing and road construction
◇manpower development and training in the rail subsector
◇services for loading and offloading goods

2. Offshore Liquid Natural Gas (LNG)

◇gas gathering
◇construction
◇operating and securing processing facilities and pipelines

3. Agriculture

◇equipment supply
◇education and training
◇food processing and manufacture
◇haulage, storage and waste recycling
◇poultry and fish farming
◇commercial mechanised Farms

4. Education and Training

◇setting up and running universities and training centres
◇corporate training
◇supply of equipment and resources
◇distance learning products
◇collaborations with UK universities
◇behavioural and social training (soft skills)

Source: UK Government

Defining Innovation

noreply@blogger.com (Admin) — Fri, 05 May 2017 14:37:00 +0000

According to one of my mentors, Bill Aulet;

Innovation is the product of invention and commercialisation.

An Invention could be a technology, idea or any form of intellectual property.

The entrepreneur doesn't have to be the originator for innovation to take place.

The idea or technology can be adopted from any industry or location.

But monetization must take place by the founder or agent of change.

It's a misconception to think innovation is only technological centered;

Innovating a business strategy, process, and even market positioning is possible.

Are there opportunities for technology-driven innovation within your locality?

Check out how some business models are leveraging on technology.

Let's review the following innovation in our generation;

Visit the website of Zipcar and Netflix,

What's your perception or observation?

Share your thoughts in the comment section below.

Entrepreneurship Type

noreply@blogger.com (Admin) — Fri, 05 May 2017 10:31:00 +0000

Is entrepreneurship for you?

Entrepreneurship is creating an entirely new business.

What type of entrepreneurship would you consider?

Small Medium Enterprise (SME) entrepreneurship are;

Organisations that remains small even though they have been around for a while.

This is often a retailer or service based business serving a local opportunity.

SMEs has no global expansion plans and can be distributed geographically.

The focus is strictly on local markets with emphasis on addressing a specific need.

This includes nusery, hair salon, restaurant, petrol retailer, dry cleaner, tax or legal service.

They are very important to an economy because they often serve an unmet need.

Although systems created by owners indicates a linear growth as cash flow generated is often insufficient and over time will gradually drifts out of the marketplace.

Ownership is usually maintained by the owner or family.

Innovation is often not important to SMES.

However,

The Innovation driven business is a type of entrepreneurship that aims to serve a global or teritorial market such as Google, Facebook, ITunes, Apple, Amazon, or PayPal.

It involves team players who is more interested in creating wealth than control.

They require startup and working capital because this business system initially loses money but over time growth becomes exponential with improved cash flow if successful as it has got a broader market.

Based on the initial investment, funds or capital requirements, shareholders will be necessary as it involves higher risk.

The type of training required for SMEs is definitely different from the latter.

Learning must include managing multiple stakeholders and the innovation process.

Continuously innovating model, process or technology sets the company apart.

Chances of success is very low but if successful, they tend to grow really big creating many more jobs when compared to SMEs.

So what's your preference? Let's discuss your interests.

Although my focus remains innovation driven entrepreneurship.

I recommend equity trading to promote the debatable growth of your company.

The Contagious Entrepreneur

noreply@blogger.com (Admin) — Thu, 04 May 2017 12:29:00 +0000

The problems in our world are becoming extremely serious and complex.

These issues or pressing needs are evident everywhere.

In time past, entrepreneurs has come up with the best solutions for these problems,

And I have faith it will happen again in Africa.

Nigeria needs more and better (social) entrepreneurs;

A goal-getter who is readily testing ideas and products on real customers;

The answers to any business questions is often out there...

In the marketplace with a customer who has an unmet need.

Solutions do not lie in a book neither with a coach or mentor;

Although either can help you think systemically about;

How you can produce an economically sustainable solution.

Ignoring primary market research will not make you a better entrepreneur.

Reach out to potential customers,

Your iteration pattern must be continuous till;

A perfect solution at the right price is attained.

As business expands beyond the minimum viable product;

You'll need to learn more about the following:

Creating an organisation culture

Selecting founding members

Team building

Leadership

Product development

Selling and sales strategy

Serving the customer and the processes

Building financials and managing cash flow

Raising funds to grow the business

Using good corporate governance practices and lots more

I hope that this framework will help you get started;

Be intelligently effective and set priorities right.

Nuture and cultivate the entrepreneurial spirit.

Channel your efforts to stay in business while eliminating any limitations.

Why are you In business?

noreply@blogger.com (Admin) — Wed, 03 May 2017 05:58:00 +0000

Is it to make money?

Don't be deceived most startups fail.

Perhaps to enjoy freedom or work less.

Entrepreneurship requires hard work which places more demand on your time.

Do not start a business just because you dislike your job or boss; this is a No-No.

Entrepreneurship isn't easier than a nine to five job.

Could it be you crave pride of ownership or fame?

The success of the business is guaranteed if only you...

Focus on creating and delivering value, not just becoming a celebrity.

Possibly you do not wish to be answerable to anyone.

You will always be accountable to customers, suppliers, employees and yourself.

If you are in business just for the fun of it, be prepared for the good and bad times.

The workload is often overwhelming.

Maybe family and friends wants you in business.

This can be problematic, although achievable.

Deep thinking is highly recommended.

Being motivated for right reasons;
Helps you pursue dreams of starting and sustaining a profitable company.

Is the entrepreneurship lifestyle for you?

Protect yourself from the risk involved.

Try identify what's driving you...

So it becomes possible to clarify the desired outcome.

If you don't start your business for the right reasons, it's destined for failure.

Experience has always been the best teacher; mentorship is essential.

Disciplined entrepreneurs do not force a new business idea.

The necessary requirements for implementation must be present.

Consider innovating or an unserved need in the marketplace.

Choose an idea that exchanges value for money with a multiple paying customers.

Validate your idea.

Make no assumptions.

Get feedback from potential customers.

If you see an unsolved problem or unmet need in the market;
Offer a superior solution.

It's okay to improve learning or take on new responsibilities.

Entrepreneurship offers great work experience.

Adopting a forward thinking approach helps during challenging moments.

The ability to maintain positivity, consistence, commitment and determination distinguishes the successful entrepreneur.

Never accept defeat nor failure.

As you work hard and smart, your passion and excitement sustains.

Leveraging on relevant industry experience will always be an added advantage when compared to a novice.

It's certainly okay to have a great idea but you need basic resources to turn the opportunity into reality.

Troubleshoot the idea.

Assess your circumstance.

Have you got the cash, contacts, information and know-how that'll help you accelerate your success?

Connect with an innovator on the idea hunting platform;

Let's discuss your project today!

Record Keeping In Business

noreply@blogger.com (Admin) — Mon, 01 May 2017 12:58:00 +0000

THE LAW REQUIRES GOOD RECORD KEEPING

Why keep financial records?

Prevents you from being fined by local authorities
Show a potential investor that you know your numbers
Accurate information facilitates better decision and business growth

How long?

Find out what the law says In your country
Try keep records for a period of 6-7years

What records do I keep?

Receipts for expenses or cash purchases
Purchase Invoices
Sales Invoices
Bank Statements
Pay-in books
Cheque book stubs
Copies of VAT returns
All salary payment made
And loads more - research; ask the expert!

Who can help?

Accountant
Bookkeeper

Available Tools
Accounting software;Sage, Quick-books etc

It's so important we trade in a compliant manner.
Be transparent in your business dealings.
I would like to know what the law requires in your locality.
Are you struggling with keeping financial record? Let's chat

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If you have any questions or comments, I would love to hear them! Comment below

The Creative You

noreply@blogger.com (Admin) — Sun, 30 Apr 2017 15:44:00 +0000

Can you recall being stuck?

Then you got insights and a breakthrough!

How did you use that new idea to resolve challenging problems or improve quality of your life?

I bet you can conveniently apply this experience in making innovative ideas better and successful.

Take a moment to study history, assess how creative people think and work.

Pay attention to how ideas are generated, developed and eventually became popular.

Your ability to transform ideas into a problem-solving tool makes you an idea innovator.

Are you dissatisfied with the way things are within your sphere of influence?

Do something but start with yourself, effect the desired change.

Strive to migrate from criticism and complain.

You can seek and create better solutions.

Innovation is practical creativity.

Get inspiration and use it.

Be bold and smart.

Keep it simple.

Nurture Ideas.

Entrepreneurs Need Mentors

noreply@blogger.com (Admin) — Sat, 29 Apr 2017 18:04:00 +0000

My mentor taught and dumped me...

Does it really matter? May be not

I am now a better entrepreneur and that's all that matters to me

Check out some valuable lessons learned in business;

Innovation comes from simple ideas with a twist and it always satisfy a basic need.
Brainstorm, think deep and fast.
Prepare the basic form of a product.
Test it now, send to potential customers and get feedback.
Do not waste valuable time drafting a complex plan that is subject to change.
Make short-term plans and adapt as often as needed.
Manage your time, business and relationships.
Look for opportunities to help people.
Don’t expect to be compensated.
Focus: Be known for something.
Celebrate achievements especially the small wins.
Stay Motivated.

How have you benefited from the voice of experience?

I would love to know your thoughts.