Startup Basics

How to Sell to a Difficult Customer

Your main goal as a business owner is to provide solutions that genuinely address your customers’ needs, ultimately enhancing their quality of life through your products. However, it’s important to acknowledge that customers have had negative experiences in the past. When a product fails to fulfill its promised purpose, it leaves customers disappointed, cautious and

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Taking Your Business to Global Markets

Taking your business to global markets is a crucial step towards achieving success in today’s competitive world. With the advent of technology and globalization, businesses have the opportunity to expand their reach beyond their local markets and tap into new customer bases worldwide. However, expanding into global markets requires careful planning and execution. The first

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The Business Facilitation Act 2023 and Your Employees

In February 2023, President Muhammadu Buhari (GCFR), signed the Business Facilitation (Miscellaneous Provisions) Act, 2023 into law. The Act, which is also known as the “Omnibus Act” is aimed at improving the ease of business in Nigeria, and to further create an enabling environment for micro, small and medium-sized enterprises (MSMEs) to thrive in the

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6 Post-Subsidy Strategies for Reducing Costs

Nigeria has enjoyed fuel subsidies for a long time, as early as the 1970s. However, its removal was announced on 29th May, 2023, and implemented afterwards. Subsidy removal on Premium Motor Spirit (PMS) is often associated with increased inflationary pressure. This means that every economic agent, from households to businesses will be impacted by its

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Integrating AI Technology into Business Operations

Definition of Artificial Intelligence AI technology is a broad term that refers to any type of computer software that engages in humanlike activities – including learning, planning and problem-solving. Broadly speaking, AI can support three important business needs: automating business processes, gaining insight through data analysis, and engaging with customers and employees. How Startups are

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The Rising Costs, Reduced Revenue and the Way Forward for SMEs 

Rising costs and reduced revenue can be significant challenges for Small and Medium-sized Enterprises (SMEs). These challenges can arise due to various reasons such as economic downturns, increased competition, changes in consumer preferences, rising input costs, and other external factors.  SMEs often have limited resources and financial flexibility compared to larger businesses, making it harder

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How to Choose your CFO Wisely

I start by highlighting that while Accounting and Finance share a thin line, it has been argued that Finance is an element or a subset of Accounting. However, their ends are the same – provision of information and insights to enhance decision-making. C-suite execs are appointed/selected based on academic and professional qualifications, exposure, and experience

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