Businesses require a well-thought-out process to stay afloat and abreast with market dynamics. The importance of this basic plan is even more pronounced with the uncertainties of our time – the incidence of COVID-19, regulatory changes, economic downturn and many other disruptive factors. While some businesses have recorded massive and positive growth despite these disruptions, […]
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Innovators are concerned about building a product that will have a huge impact on the lives of people by increasing the quality of living standards, addressing a pain point or an alternative that is cost effective for its consumers. With these great thoughts comes a big question that has to be answered before launching a
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“By failing to plan, you are planning to fail.’’ (Benjamin Franklin, Inventor, and Businessman) As a budding entrepreneur, the need for a well-written plan that communicates your intentions to internal and external stakeholders cannot be over-emphasized. The purposes of a business plan include: A business plan describes the venture you will create to exploit an
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Gone are the days when small and medium-sized scale business owners will say forget Value Added Tax (VAT). It is for big companies. If you continue to operate your business with that mindset, both the amount for VAT and penalties will keep piling up. VAT is a tax that is added to the price of
What You Should Know about VAT Read More »
How Superstores Are Utilizing Superior Customer Experience To Increase Retention Rates And How SMEs Can Adopt Technique “A happy customer tells their friend, an unhappy customer tells the world” One of the major challenges Small and Medium Enterprises (SMEs) face is customer retention. This is the ability to make customers coming back after the first
Customer Retention Strategies Read More »
The Covid-19 pandemic had a widespread effect on businesses in many ways that caused huge layoffs, bankruptcy, reduction in the production of the units of goods or services offered, increase in price from suppliers, and change in the way work is done globally. With this pandemic, came the opportunity to become innovative and creative to
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Research has shown that in Nigeria, 80% of businesses fail within the first 5 years, and out of the 20% that make it past 5 years, just 25% of them make it to the 10-year mark. Being an entrepreneur in Nigeria myself, I can list out many different factors that affect the success of a
How to be Investment Ready Read More »
Hello Zainab, I currently run a Media Agency with my co-founder. We are looking to scale by representing various Content Creators, and platforms, that is while they create the shows, songs, or content, we would be the ones to handle the business aspect of things We have been doing business on a month-to-month basis, what
Legal Structures You Need as a Media Agency Read More »
To win in the marketplace on a sustainable basis, you have to choose a game plan (from among the many options) by matching the external opportunities with your distinctive internal competencies. One must, however, not take ‘’exploiting distinctive competencies’’ as an end in itself – it is only a means to an end. ‘’The real
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Technological Startups in Africa are innovative about providing solutions to challenges that exist in Africa. However, with these solutions come several bottlenecks which eventually create a barrier to the survival and sustainability of the business. There are several factors that contribute to the failure of start-ups in Africa and the ability to learn from these
Why Startups Fail and How To Mitigate this Read More »
