Reading Time: 8 minutes Many people have the aspiration but very few know how to start a business. Being your own boss gives you an exciting feeling but to so many people, the excitement disappears as soon as they start. The reason is simple: many aspiring entrepreneurs don’t take the right steps in developing their business ideas, hence many businesses fail for this reason. …
Reading Time: 5 minutes If there was just one lesson entrepreneurs learned from the global spread of the corona virus pandemic in the early months of 2020, it was this: Taking your business online, whatever the size is not optional. It’s a best business practice. It is a digital world and the online marketplace has become so central to business growth that you can …
Reading Time: 5 minutes Starting a business is not easy. Growing your small business may even be more challenging. According to some studies, approximately 22% of new businesses failed in their first year, 30% in their second year; 50% fail in their fifth year and 70% don’t make it past their 10th anniversary. In other words, it may be easy to start a business …
Reading Time: 7 minutes One prominent Nigerian entrepreneur caused a stir at a certain business conference for aspiring entrepreneurs where he was a guest speaker. At that conference, he told his mesmerized audience that he didn’t believe in writing a business plan. One of his obviously confused wannabe entrepreneur in the audience stood up and asked… “Sir, Did you mean that writing a business …
Reading Time: 5 minutes There are many types of business insurance cover available out there for business owners. Unfortunately many entrepreneurs, particularly small business owners seem not to know the positive impact insurance can make on their businesses. Particularly in a developing country like Nigeria, insurance knowledge is low. Ask someone whether he has a life insurance policy he will tell you he doesn’t …
Reading Time: 2 minutes Mastering your finances is one of the essential tasks of any entrepreneur. Yet many business owners overlook basic aspects of financial management that can give them greater control over their business and greater peace of mind. Indeed, to have financial plan is a necessary step towards avoiding business failure Early Warning System The financial plan differs from the financial statements …
Reading Time: 2 minutes In the current digital era, we have screens everywhere and people have a passionate love affair with all things digital. Shopping habits are changing and consumers are becoming more technology oriented than ever. Digital signage is now a trusted source of information used by consumers in choosing what to buy and where to shop. It offers new invigorating ways to …
Reading Time: 4 minutes What I found common, in my interactions with a good number of entrepreneurs is that they find it difficult to separate their business finances from their personal finances. More often than not the entrepreneur uses proceeds from his business to finance family-related needs. This practice is a major reason why businesses fail. It is important that entrepreneurs understand the difference …
Reading Time: 6 minutes [contact-form][contact-field label=”Name” type=”name” required=”true” /][contact-field label=”Email” type=”email” required=”true” /][contact-field label=”Website” type=”url” /][contact-field label=”Message” type=”textarea” /][/contact-form] Tax! Let’s talk about it. A good number of small and medium business operators do not understand tax matters and how these affect their businesses, hence the high level of noncompliance. A certain study showed that over 80 percent of small businesses in Nigeria don’t …
Reading Time: 8 minutes No entrepreneur wishes to start a business that will fail. But the incidence of business failure is a reality. According to statistics 8 out of 10 new businesses fail within their first eighteen months while only about 30% of them survive their 10th anniversary. Economic challenges and bad government policies are some of the excuses an average entrepreneur will give …
