Category: Archives

Young Entrepreneur Meetup

Sat, January 21, 2017,  10:00 AM – 1:00 PM WAT Capital Square 2nd Floor, The Garnet Building Km 14 Lekki-Epe Expressway Igbo Efon, Lekki, Lagos


December 20, 2016 0

Staff Training and Development

All entrepreneurs need to constantly keep developing and improving themselves and their staff. We have two training programs available geared towards this objective. One program is conducted in partnership with Leadership Paradigm Consultants Limited. These are short classroom-fashioned courses and they are paid. They will be regularly announced on this site. The other training programs…
Read more


February 7, 2016 0

Information Security

The security and integrity of your information and data is very important. You will therefore frequently need various tools such as anti-virus and internet security. I recommend BitDefender products.


February 7, 2016 0

Data Back-up and Recovery Services

Protecting your data and being able to retrieve it in the event of unexpected events and disruptions is a primary responsibility of any discerning entrepreneur. I recommend Backup Genie.


February 7, 2016 0

Domain Registration, Web Design and Hosting

Domain Registration and Web Design and Hosting: In this millennia, no business should not have a website. Having a website for your business has several advantages, no matter your size. Furthermore, the cost of having a domain registered and a website designed and hosted for you is a very small compared to several other things…
Read more


February 7, 2016 0

Accounting Software

We have also mentioned the importance of keeping relevant business records. As an entrepreneur, you must be able to get real time financial status of your business. There are various accounting softwares that makes this easy and cheap. I recommend Express Accounts by NCH Softwares. You can contact them via my link:


February 7, 2016 0

Business Planning

As mentioned in our various articles, business planning is important and necessary before any business take-off and/or expansion activity. I recommend BizPlan Builder by Jian.


February 7, 2016 0

Central Bank of Nigeria

  Central Bank of Nigeria – Micro, Small and Medium Enterprises Development Fund Guidelines


February 5, 2016 0

Business Ownership

Start-ups and SMEs safe-guarding your ownership in your business.  


February 5, 2016 0

Supply Chain Management

A business must create competitive advantages to survive the onslaught of competitors. To do this, the business may focus on a particular area to excel (and possibly dominate), such as a reputation in excellent customer service, or the production of high quality products. More often than not however, a business must do several things very…
Read more


February 1, 2016 0

Be a better Entrepreneur in 2016

  When you were a start-up entrepreneur, you have most likely worked alone, braving through the long days and lonely nights. You had bought your trading goods alone; processed and sold them from the trunk of your beaten up sedan. You were turned down several times over by your prospective customers and bankers. As your…
Read more


January 1, 2016 0

Business Performance Review

  In previous posts, we have discussed budgeting and planning as the separate issues they are. This post attempts to bring out the importance of periodic (specifically, yearly) business performance review. However, it is also dovetailed into future year projections to emphasize the linkage between the two. Basis: At whatever stage your business is, you…
Read more


December 27, 2015 0

Business Execution (II)

  Our last post on Business Execution essentially focussed on the following: Definition of Execution, Benefits of Execution, and Creating a System of Business Execution. This, concluding part, addresses the need to avoid execution inertia. 4) How do you avoid execution inertia: Right people: No gainsaying your most important resource is your human capital. Employing,…
Read more


December 24, 2015 0

Business Execution (I)

There are four traits found in entrepreneurs, as follows: Those who do not plan, Those who plan but do not execute, Those who ‘execute’ without planning, Those who plan and execute. The first three classes have very little chance of succeeding in business. If you fall into any of them, you have to learn to…
Read more


December 24, 2015 0

Innovation in Business

Innovation: The Conference Board of Canada defines innovation as ‘the process through which economic and social value is extracted from knowledge through the generation, development, and implementation of ideas to produce new or improved strategies, capabilities, products, services, or processes’. Ron Jonash, of Monitor Group however has this to say on innovation:  ‘I have found…
Read more


December 21, 2015 0

An Entrepreneur’s Diary – Interview – By Mirza Yawar Baig

Publisher’s note: The title and content of this post was written by Mirza Yawar Baig. He has kindly granted us permission to reproduce it here. 1 – Founding story: why this venture, why that particular time, what motivated to make the leap? Who helped in the process? What were the entrepreneur’s greatest fears and desires?…
Read more


December 14, 2015 0

Budgeting

Most small business operators do not bother to plan and draw their budgets. This is dead wrong. As most businesses have a financial year that begins in January and ends December, this may be your last chance to ensure that you draw your next year’s business budget. Importance:    Your budget makes it possible for you…
Read more


December 13, 2015 0

17 Truths About Being An Entrepreneur

(From The Tony Elumelu Foundation, Tuesday, 8 August 2015) We recently read an inspiring article on entrepreneur.com by Stephen Key on the 11 Truths About Being an Entrepreneur. There is a plethora of advice out there, but we found Stephen Key’s points to be candid and very useful for our #AfricanEntrepreneurs to note. Via the…
Read more


November 19, 2015 0

Team Building

”Teamwork is the ability to work together toward a common vision.” — Andrew Carnegie Entrepreneurial ideas frequently emanate from solo thoughts, observations or discussions with a few others. Developing ideas into viable business enterprises, however, requires the concerted effort of a lot of people. As an entrepreneur, you should realise that your business can only grow…
Read more


November 12, 2015 0

Business Intelligence

The quality of our decisions, and the results we get therefrom, are dependent on a few factors as follows: The quality and quantity of information that we have at our disposal, Our abilities to intelligently process the information available and make decisions based on that, The environmental response to our the decisions. The third factor…
Read more


November 8, 2015 0

Risk Management

Small and medium enterprises are prone to various risks that may stagnate their capacity to grow or even threaten their existence. It is therefore important that the entrepreneur (and his team) understand what risks the business is likely to be, or already exposed to, and what mitigating measures should be put in place. 1) WHAT…
Read more


October 28, 2015 1

Business Competition

Except you are one of the very few entrepreneurs that have either developed or created some entirely new product or service, you are very likely operating in a competitive business environment. And even if you created such a new product or developed a new service, you are very likely to face competition sooner than later,…
Read more


October 25, 2015 0

e-mail to an aspiring entrepreneur

Over a year ago, a very good friend called to inform me that he was leaving his senior position in the banking industry to start his business. Having left my own paid employment to focus on my businesses several years ahead of him, I consider myself his business ‘senior’ ! We therefore arranged to meet…
Read more


August 28, 2015 0

Branding

Most budding entrepreneurs either have only a faint idea of exactly what ‘branding’ is or at worse believe it has no relevance to their business. This is terribly wrong, as indeed the best time to start working deliberately towards creating your ‘brand’ is exactly at the planning stage of your business. It is much easier…
Read more


July 31, 2015 2

Business Modelling

What is a business model? Key to success in any endeavour is to decide exactly what you want to achieve and then set about how to achieve the desired objective. Whenever one considers starting a business, one typically studies the feasibility of the idea and thereafter draws a detailed business plan. In the midst of…
Read more


July 4, 2015 0

Cost Control

Investments and expenditure are necessary for any business to achieve and maintain the capacity to deliver service. However, it is equally important to ensure that you get the most value out of each investment made or expense incurred. And indeed many entrepreneurs do very well in generating sales revenue for their budding and growing businesses,…
Read more


June 21, 2015 0

Business Metrics

“You get what you measure. Measure the wrong thing and you get the wrong behaviours.” – John H. Lingle We have mentioned severally in other posts that business entails handling a lot of details. Furthermore, the typical entrepreneur and his managers are constantly receiving massive amounts of information on a daily basis. It therefore becomes a challenge…
Read more


May 18, 2015 0

Staffing

“I Am Convinced That Nothing We Do Is More Important Than Hiring And Developing People. At The End Of The Day You Bet On People, Not On Strategies.”– Lawrence Bossidy For an entrepreneur wishing to start or grow his existing business, he should realise that no resource is as critical as the human capital. The…
Read more


May 13, 2015 0

Customer Service

We have just posted on the importance of selling in the success of any business venture. I want to now discuss an extension of that: Customer Service. My experience is that most budding entrepreneurs and those seeking to grow their businesses do not recognise the importance of excellent customer service in leading to the success…
Read more


May 9, 2015 0

Start Selling

Every function is important in business. From your supply chain management to production; from personnel management to finance and administration; from design and engineering to marketing, etc. You simply can not take any function for granted. As the saying goes, ‘a chain is only as strong as its weakest link’. In spite of what I…
Read more


May 7, 2015 4

Start Right!

Here, we presuppose that you have already developed your business plan, raised the funds you require, employed the first set of your staff, bought or rented your office space and installed your equipment. Tomorrow you will open for business at 9am. You need to recheck the following tonight and be sure again. 1. Review your…
Read more


March 25, 2015 0

World of Business – Warren Buffett

“I always knew I was going to be rich. I don’t think I ever doubted it for a minute. ” – Warren Buffett I am writing about Warren Buffett not so much because he has been among the top five richest men in the world consistently for several years, but because he lives the traditional…
Read more


March 19, 2015 0

Entrepreneurial Dilemmas and Their Answers – By Mirza Yawar Baig

Publisher’s note: The title and content of this post was written by Mirza Yawar Baig. He has kindly granted us permission to reproduce it here. Spirit ‘In every one of us there are two ruling and directing principles, whose guidance we follow, wherever they may lead; the one being an innate desire of pleasure; the other,…
Read more


March 12, 2015 0

Self Management

“The individual who wants to reach the top in business must appreciate the might and force of habit. He must be quick to break those habits that can break him—and hasten to adopt those practices that will become the habits that help him achieve the success he desires.” — J Paul Getty   What is self…
Read more


March 10, 2015 2

Being the Boss

Most people view ‘being the Boss’ as an opportunity to enjoy various benefits, perks, and privileges. The benefits, perks, and privileges are definitely nice. But even if you are starting a multi-million dollar business, those are not what should excite you. And if they are what entirely excite you, I think you should pause and…
Read more


March 8, 2015 0

World of Business – Richard Branson

I am starting our short business stories with Richard Branson because I like three things about him. The first is that he is, obviously, a very determined businessman; the second is that he brings adventure into business; and the third is that he has fun doing what he does! I think that is an excellent…
Read more


March 5, 2015 1

Focus

Over the years, the success of a business enterprise at all stages has been linked to capabilities in leadership, innovation, customer service, supply chain management etc. These are definitely extremely important  issues which must be properly handled by an entrepreneur setting himself to succeed. However, except for a book here, a casual mention there, a…
Read more


February 28, 2015 0

Bootstrapping

Most young entrepreneurs assume that funds is the most important resource they need to start their ventures. Whilst funding is an important element in the overall  scheme of business operation, we sometimes over emphasise its necessity, especially at the beginning of our ventures. The overemphasis made can make an aspiring entrepreneur give up even before…
Read more


February 23, 2015 2

Find a Vacuum and Fill it

Business is both easy and tough. It is easy to the extent that it almost always simply involves identifying a need and satisfying it. It is difficult to the extent that a lot of things must be done right, from being able to correctly identify the need to being able to satisfy it. And this…
Read more


February 21, 2015 2

Going into Business? Prepare for a Long Journey!

Going into business is a fascination for most people. Some have determined that they are not ‘cut out’ for it, and so avoid it. Some others however can only ‘be in business’ than anything else. Somewhere in-between this wide spectrum, are people who are not sure either way. It is important to find where you…
Read more


February 18, 2015 0

Getting Things Done

Getting Things Done: As I mentioned in the write up on prioritisation, nothing happens in life until we get something done. In fact, if we don’t do something, something else that we do not desire is likely to happen! To succeed in business, and indeed life generally, we must create the desire, willingness and ability…
Read more


February 16, 2015 0

Prioritisation

Prioritisation: Everyday we take literally hundreds of decisions in our lives. The net position of our lives on any given day is a reflection of our several thousands of decisions in the days and years before. Prioritisation makes it possible for us to set and pursue goals on a daily basis with the aim of…
Read more


February 8, 2015 2

Factors to Consider Before Going into Business

Factors to Consider Before Going into Business: Traditionally, people have the option of either working in a paid employment or go into business. Paid employment can be in either the private or public sectors. Any career option that one takes is quite as good as the other. What is important is that there should be…
Read more


February 3, 2015 0

Business Planning

Business Planning: Our last write up was on ‘Testing Business Ideas’. This was basically to enable you check the possible feasibility of your business idea. I strongly suggest this first stage so that you do not commit resources on the more detailed business planning only for you to realise that what you have is not…
Read more


February 2, 2015 0

Testing Business Ideas

Testing your Business Ideas: Succeeding in business takes a number of several things done right. After coming up with an idea, it is imperative that it is tested to ensure that it meets basic commercial considerations before additional resources are committed to it. Let us call this ‘test of feasibility’. This is a very important…
Read more


January 30, 2015 1

Generating Business Ideas

How to Generate Business Ideas: We should first understand that businesses basically solve some problem or create some convenience for which a sufficiently large number of customers are willing to profitably pay for. Three factors are important here: Solve a problem or create some convenience. This can be by way of a physical product or…
Read more


January 30, 2015 0

Traits of Entrepreneurs – II

Aptitude and Attitude: Our aptitude and attitude play a most important role in the successes we attain in each sphere of our life endeavors. Your likelihood of succeeding as a business entrepreneur depends to a large extent on your aptitude and attitude. It is therefore extremely important that you understand what they are; what your…
Read more


January 26, 2015 1

Traits of Entrepreneurs (I)

Traits of Entrepreneurs (I)  What do they do? Let me start by telling you a little about my own journey. By the time I graduated and went on to postgraduate studies, I was always at the top of my class (although it did not start this way from secondary school. But that is another story).…
Read more


January 24, 2015 0
Scroll Up