Business and Entrepreneurship

It is important in life and especially business to prioritize ideas. Some questions that will help us as regard priority includes "when should this idea be implemented?" "Do I have all it takes to implement this idea now, if not, when will I have them?" "Won't it be late to implement this idea in so so and so time?" Etc. Many times, it's difficult to run/implement two or more ideas at a time but through priority we can still achieve them all though at different times. It also prevent tying up of capital and that may even affect both businesses. In priority, it's best to do the easiest first or one in which one has more expertise or one better research. In priority, a schedule is also important. When we ask the necessary questions, it would help us know how prepared we are for every idea we intend to implement less we start and encounter problem not anticipated. Some ideas are best implemented now than allowing them to wait while some are bet...

You don't expect Nigeria to come out of recession by wearing that clothes made in other countries when we have our Nigerian made. You don't expect jobs to be available for everyone when you prefer foreign made goods to Nigerian made. You don't expect farmers to keep farming when you import most of the same raw materials they produce. We even import most of the same food we readily produce. Let the next set of things/items you will use be made in Nigeria and we will be on our way to self reliance economically. Change indeed begins with me. Proudly Nigeria.

In as much as I advise SMEs and prospective entrepreneurs to look for grants to aid their business/productions, there is also a need to caution them from applying for every grants. Before applying for any grants, verify the organization issuing the grants. Many web designers today host many such websites to steal people's business ideas. I know many of us are currently subscribed to some websites alerting us about new grants. For the safety of your idea, don't just go through the link on that website, verify the information on Google or better still on the organization's website itself. Many of them end up selling off your idea for personal gains. One has to be security conscious in a country where patency and royalty are still something strange.

Until Nigeria has integrity of policies, our country cannot change!                                  - Benedict Okorie If we say we are banning the importation of any product into Nigeria. It should also come emphatically with duration, say 5 months, 1 year, 5 years or even 10 years. This should also be independent of political party at the helm of affairs. So if party A makes the policy to ban a product for a number of years and party B defeats party A in the general election, party B should also allow that ban until that number of years as pronounced by party A. That's integrity! Anyone willing to go into local production knows the number of years he/she has before the ban is lifted. You will realized that we would have had market leaders before the ban will be lifted. Another aspect of policy I will like government to look...

Over the years, I have tried applying for grants to start up my company. I noticed that I was never shortlisted even though I have somewhat good business. My friends that have already started, however, do get shortlisted. I also observed that some of the questions usually asked includes 'how much have you spent on the business?' ' upload a picture or video of what you are doing' 'list your major competition' among others. The reason behind these questions is majorly to distinguish between those who having started had gained experience from their involvement and those still assuming. Though with a good business plan, you could also win grants but most winners have started something. It's generally believed that those who have started will invest the grants into their businesses while there is a high tendency that those who haven't started can divert the fund. There is also the aspect of managing the funds, it is believed that those who have started have...

Many people have always walk up to tell me they can do a good number of the products we import from other countries into the Nigeria market but are scared of competition with foreign products especially price competition. My usual reply has always been start first. When you start and you are zealous, you would end up creating your own market and with time, you will be reckoned with. Don't just assume, try it, the competition may not be that stiff. When you get to involve, some things will become clearer and your decision will be based on facts. Some of your assumption, you would realize are not true while you would be better positioned to grow your business. The next time you find that product you have a skill to develop, don't just get angry, be motivated instead.

As I watch silverbird television the other day, I saw Senator Ben Murray Bruce speaking on why it's important to patronize Nigerian made goods especially now that we are in a recession. Some of what he said includes: Boarding Arik air if we are travelling oversea except for countries Arik cannot access. Instead of importing military clothes and shoes, tailors across the country can be used as well as making the clothes in Nigeria. Use only cars assembled in Nigeria. Buy only Nigeria products Instead of going to London or the USA (thank God Trump is now the President elect. Pray he makes good his threat and send those good brains home to better our lots here), we can decide to visit mabilla plateau or the ubudu cattle range or any other resort around the country. Until we value that leather shoe from Kano, that school/hand bag from Aba, the Naira will find it difficult to survive.