Author: Musbahu El Yakub

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Musbahu El Yakub

Pathway to Entrepreneurship (Abuja and Lagos)

Our ‘Pathway to Entrepreneurship’ is an intensive training and personal advisory program for those considering going into and those in early stages of business. Minimum qualification: University students in their final year of study, NYSC members, graduates, junior executives in employment, and those aspiring to leave or retire from paid

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Musbahu El Yakub

Delivering Results in a Low-Trust Environment: A ‘Dangote-Wilmot’ Model

One of the major challenges faced by entrepreneurs in Nigeria and several other such countries is, unfortunately, fraudulent activities by staff. These activities include direct cash theft, under-invoicing of sales to favour a customer, over-pricing of purchases from suppliers, direct pilferage of products, etc. These actions make entrepreneurship more costly

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Musbahu El Yakub

Build Your Business Tribe

  In our post on ‘Personal Tribe’, we discussed the evolution of tribal groups and the need for an entrepreneur to have a ‘personal tribe’. The features, benefits and composition of ‘personal tribes’ were discussed. Here we will discuss the need for an entrepreneur to have a ‘business tribe’ as

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Musbahu El Yakub

Build Your Personal Tribe

As social creatures, human beings kept, and many still keep, to their ‘tribes’ for several benefits such as identity, protection, self-sufficiency and opportunity for growth. Overtime, trade, wars and politics have forced different levels of evolution to different tribal groups across the world. We are now living at a time we

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Musbahu El Yakub

Young Entrepreneurs Support Sessions

In association with our company, Aperture Consulting, we are pleased to announce the commencement of our Young Entrepreneurs Support Sessions (‘YESS’). These are one day free consulting sessions aimed at helping young entrepreneurs clarify any business knotty issues that might be confronting them.  About five experienced consults will be available

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Musbahu El Yakub

Free Training Programs for Start-up Entrepreneurs on How to Access Nigerian Government Intervention Funds

(Course Ref: FTP17/01): We have free training programs for start-up entrepreneurs on how to access various business intervention funds from the government of Nigeria. The program includes the following training modules: Moral and legal obligations of debt Needs assessment Nigerian government funding options for start-up businesses Processes and requirements Venues

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Musbahu El Yakub

Creativity in Business (II)

Continued . . . (Credit: hrtalks.manpowerku) How to foster a culture of creativity in your organization: A number of large multi-national corporations and several quite unknown local companies are extremely good in creativity. You will always recognise such organisations when you cross their path or talk to their customers. Google

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Musbahu El Yakub

Creativity in Business (I)

A lot of qualities are considered a personal must for the success of the entrepreneur and their organisation. Creativity as one of those qualities however, is unfortunately and wrongly, not given the prominence and importance that it deserves. A creative entrepreneur stands a greater chance of success than one that

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Events
Musbahu El Yakub

Venture Creation Short Course

Mon, Feb 6, 2017, 8:00 AM – Fri, Feb 10, 2017, 3:00 PM WAT Centre for Entrepreneurial Development (CEDS), Covenant University Faith Avenue Ota, Ogun State

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Musbahu El Yakub

Nigeria Export Workshop

Sat, January 21, 2017 8:00 AM – 5:00 PM WAT Lagos Chamber of Commerce and Industries PLOT 10 DR. NURUDEEN OLOWOPOPO DRIVE, BESIDE MARWA/MKO GARDEN Ikeja, Lagos

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Musbahu El Yakub

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

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Recent Posts
Musbahu El Yakub

Earn your Leadership Everyday (II)

Continued . . . Communicate and motivate: Human beings have both a desire and need to communicate and be communicated with. You have to be able to listen to others as well communicate to them in a a language that is clear and which further inspires and motivates them. Motivation

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Musbahu El Yakub

Earn your Leadership Everyday (I)

  ‘Earn your leadership everyday’ – Michael Jordan Success for the entrepreneur requires providing leadership to their organisation. Unfortunately, most entrepreneurs whilst good in their technical areas and commerce are unable to provide the inspirational leadership required to survive and excel over varying challenges the organisation will definitely face in

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Musbahu El Yakub

Relationship Management for the Entrepreneur

(LinkedIn) In various posts on this blog, we have always stressed that success in business, as in life in general, is a result of several things done right. Nonetheless, there are a few factors that are absolutely necessary if you are to stand a good chance of succeeding in any

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Recent Posts
Musbahu El Yakub

LOAN APPLICATION AND MANAGEMENT PROCESS FOR THE SMALL BUSINESS OWNER: Part III – RECEIVING YOUR LOAN OFFER

Part III – RECEIVING YOUR LOAN OFFER In reviewing your application, the bank will generally consider several factors. Popular among the factors are the so-called 5 Cs of credit. These are Character, Capacity, Collateral, Capital and Conditions. In addition, most lending institutions have other internal and regulatory considerations to make.

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Recent Posts
Musbahu El Yakub

How to Build a Strong Work Ethic at your Place of Work

In our previous post, we discussed the elements and principles of work ethic in an entrepreneur, their team and organisation. We will now discuss how the entrepreneur and their employees can build the strong work ethic that is required for both personal and corporate success. The first thing to realise

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Recent Posts
Musbahu El Yakub

Work Ethic

Contrary to the thought of most African entrepreneurs and their employees, finance is not necessarily the major hindrance to the successful takeoff, running, and growth of a viable business proposition. Empirical observations seem to suggest that one of the greatest impediments to these challenges is what I will call ‘poor

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Recent Posts
Musbahu El Yakub

Managing Business Growth

Entrepreneurs are extremely ambitious. It is a default setting in them! They dream of taking their garage start-up to the Nigerian Stock Exchange within the first seven years of starting. This is a perfectly legitimate, even noble, ambition. However, the steps they take must be right and appropriate if they

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Recent Posts
Musbahu El Yakub

Regulatory Compliance

Most small and medium-scale business owners do not take compliance with regulatory requirements seriously. This is wrong and can be a big and costly mistake. What is Regulatory Compliance? As with human beings, businesses do not operate in isolation. They need to operate in a ‘society’ if they are to

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News
Musbahu El Yakub

Leasing

Economic Diversification: ELAN Highlights Opportunities in Leasing

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Musbahu El Yakub

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

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Musbahu El Yakub

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.

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Musbahu El Yakub

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.

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Musbahu El Yakub

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

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Musbahu El Yakub

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

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Musbahu El Yakub

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.

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News
Musbahu El Yakub

Electricity

Nigeria cannot afford to wait for its electricity grid: Timi Soleye, President, CRYO Gas & Power

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News
Musbahu El Yakub

South Africa

South Africa’s Travelstart raises $40M to extend reach in Africa’s fast-growing multibillion dollar online travel market

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News
Musbahu El Yakub

Coca-Cola

Coca-Cola acquires 40% of leading Nigerian dairy and juice company, Chi Limited.  

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Musbahu El Yakub

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

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Musbahu El Yakub

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

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Musbahu El Yakub

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

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Musbahu El Yakub

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

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Musbahu El Yakub

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,

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Musbahu El Yakub

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

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Musbahu El Yakub

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

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Musbahu El Yakub

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

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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

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Musbahu El Yakub

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

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News and Events

SME AND FRANCHISING NIGERIA EXHIBITION AND CONGRESS- 2-3 December 2015, Eko Hotel Convention Centre, Lagos, Nigeria http://www.smeandfranchisingnigeria.com    

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News and Events

  Sokoto plans to end subsistence farming: http://businessnews.com.ng/2015/11/09/sokoto-plans-to-end-subsistence-farming/

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Musbahu El Yakub

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

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Musbahu El Yakub

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

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Musbahu El Yakub

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

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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’ !

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Musbahu El Yakub

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

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Musbahu El Yakub

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

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Musbahu El Yakub

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

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Musbahu El Yakub

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.

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