BUSINESS ESSENTIALS: STARTUP WORKSHOP

This accelerator program is designed to assist you in developing your business plans, business skills and future aspirations for growth.

Day 1: Awareness
This session aims to make you aware of the various requirements involved in setting up a business.

The workshop will provide you with the opportunity to network with other business owners and will also highlight useful sources of information, advice, and guidance.

Day 2: Business Planning
This session will help you create a robust business plan.

The workshop will look at:

• creating a description for your business
• the business planning process
• efficient ways of obtaining skills and resources
• presenting your business plan

Dear Mentee,

I am concerned about your progression plans.

I love to get more information from you for a proper situational analysis.

What's your trading start date?

When exactly did money start exchanging hands In Your business?

Have you defined your brand in the marketplace?

Is your business registered?

Do you own a corporate bank account?

Separate business from personal life;

• Money
• Contacts
• Relationships

Are you registered as a tax payer?

Avoid Fines

Has your business started creating jobs?

How many employees have you got?

Plan to recruit 

The Business Development Manager

Have you got expansion and sustainability in mind?

What's your strategic growth plan for the next 3-5years?

Write the Vision 

Make it easier for your team members (Partners,  Staff & Funders) or the next generation to understand and continue with the project you have started.

DOWNLOAD A FREE TEMPLATE

CHOOSE;

• Entrepreneurship not freelancing

• Business ownership over self employment

Try create a system of solutions and delivery around your idea

Know your business costs

Forecast sales

Set Targets

Make money 

Increase sales and maximize profits

Save money; reduce your expenses

Keep records

Take the business online

Be visible online and offline

Budget before executing

Include a web blog and professional email in the budget

Stop impulse buying

Plan before spending

Anticipate returns on investment

Create Value 

Dominate; do not compete

Compare yourself with your past not with others

Ask the right questions;

Listen More

Get feedbacks from customers and end users

Focus on satisfying the end users of your products

Review your business plan, strategy, products and services continuously

Look out for collaboration opportunities

You need multiple paying customers

Promote Your Brand

Sell, Sell & Sell

Do NOT sell to everyone

Select a beach head market

Avoid time wasters

Save Time

Work smart

Automate systems

Start Small, Think Big and Scale Fast

Learn from failures

Enjoy your achievements and all plans

Keep interested in your career

Invest more in self development

Exercise caution in your business affairs

Be yourself

I care - stay connected

Your success is my happiness.



Next on Enterprise☆Hour

We will be taking business related questions with emphasis on import and export.

Guest Speaker; Amara Nnaji

Project Type:
International Trade Navigation

Do not forget to join the live chat

Every Monday 8pm

Location: Enterprise☆Hour

Drop Comments -  Ask Questions Now

Dear Mentee,

Most solopreneurs needs a shoulder to lean on.


Especially another ear that listens...


Possibly one that helps solves problems from own experience.


Without a paying customer,


You have no business.


This is the bitter truth.


Yet you need multiple paying customers, continuous patronage or repeat businesses


Collaboration is something else that may help achieve your business goals.


Buying from one another can strengthen your relationship and possibly help normalize business for newbies.


Do not shun positivity.


You all have different gifting which could compliment each other.


Focus more on the benefits this group has to offer.


Complaints and worries is often a time wasters.


I flee every form of negativity, condemnation or rejection.


This is a wise thing to do.


Entrepreneurship requires a lot of hard work.


You have enough to keep you busy.


A day or time off to participate in a meeting like ignite meet-up is worth it.


I can tell you that from my past experiences.


Meetings like this stimulates creativity especially if teams are carefully recruited.


This forum will not be applaud by everyone.


If vision of this group doesn't align with your core values.


Simply walk away,


Don't try take others along with you.


It will be an unfair thing to do.


Projects like this requires your cooperation and dynamic teams to achieve set goals.


You don't have to be the visionary or co-founer before you can add value.


Do something,


Stop nagging.


Someone must initiate something especially when solving problems for everyone.


Innovators created a place that allows you to increase contacts and expand your connections.


Why not enjoy it...


I hope you feel encouraged.


To the organizers,


Well-done!


Be flexible,


Share the vision,


Keep it simple for all


Encourage creativity


Innovate consistently


So you are able to bring more value to the marketplace.


Remember,


Impact first, money follows


See things from the eyes of your end users or beneficiaries.


Allow the flow of constructive feedback.


Fine tuning becomes easier.


Above all,


Encourage volunteering


Give members a sense of belonging.


Your best is yet to come...


I wish you all good success.

Attendance is very important.

IDEA HUNT MEETUP

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Challenges Doing business in Nigeria
===============================

While there are many opportunities for companies looking to do business in Nigeria, there are some challenges to be aware of. These include:

◇poor power supply nationwide
◇weak infrastructures across many sectors
◇some security challenges
◇government bureaucracy when awarding and paying for contracts
◇high level of corruption
◇high unemployment and poverty

===============================
The top 10 UK exports to Nigeria are:
================================

◇petroleum, petroleum products and related materials
◇power generation equipment
◇transport equipment
◇road vehicles
◇general industrial and office machinery/equipment
◇essential oils and perfume materials
◇medicinal and pharmaceutical products
◇textile yarn and fabrics
◇fruit and vegetables
◇beverages

====================================
Opportunities for UK businesses in Nigeria
====================================

1. Infrastructure

◇import and distribution of materials and equipment
◇hospitality and recreation real estate
◇warehousing, haulage and logistics
◇mass housing and road construction
◇manpower development and training in the rail subsector
◇services for loading and offloading goods

2. Offshore Liquid Natural Gas (LNG)

◇gas gathering
◇construction
◇operating and securing processing facilities and pipelines

3. Agriculture

◇equipment supply
◇education and training
◇food processing and manufacture
◇haulage, storage and waste recycling
◇poultry and fish farming
◇commercial mechanised Farms

4. Education and Training

◇setting up and running universities and training centres
◇corporate training
◇supply of equipment and resources
◇distance learning products
◇collaborations with UK universities
◇behavioural and social training (soft skills)

Source: UK Government 

According to one of my mentors, Bill Aulet;

Innovation is the product of invention and commercialisation.

An Invention could be a technology, idea or any form of intellectual property.

The entrepreneur doesn't have to be the originator for innovation to take place.

The idea or technology can be adopted from any industry or location.

But monetization must take place by the founder or agent of change.

It's a misconception to think innovation is only technological centered;

Innovating a business strategy, process, and even market positioning is possible.

Are there opportunities for technology-driven innovation within your locality?

Check out how some business models are leveraging on technology.

Let's review the following innovation in our generation;

Visit the website of Zipcar and Netflix,

What's your perception or observation?

Share your thoughts in the comment section below.

Is entrepreneurship for you?

What type of entrepreneurship would you consider?

Small Medium Enterprise (SME) entrepreneurship are;

Organisations that remains small even though they have been around for a while.

This is often a retailer or service based business serving a local opportunity.

SMEs has no global expansion plans and can be distributed geographically.

The focus is strictly on local markets with emphasis on addressing a specific need.

This includes nusery, hair salon, restaurant, petrol retailer, dry cleaner, tax or legal service.

They are very important to an economy because they often serve an unmet need.

Although systems created by owners indicates a linear growth as cash flow generated is often insufficient and over time will gradually drifts out of the marketplace.

Ownership is usually maintained by the owner or family.

Innovation is often not important to SMES.

However,

The Innovation driven business  is a type of entrepreneurship that aims to serve a global or teritorial market such as Google, Facebook, ITunes,  Apple, Amazon, or PayPal.

It involves team players who is more interested in creating wealth than control.

They require startup and working capital because this business system initially loses money but over time growth becomes exponential with improved cash flow if successful as it has got a broader market.

Based on the initial investment, funds or capital requirements, shareholders will be necessary as it involves higher risk.

The type of training required for SMEs is definitely different from the latter.

Learning must include managing multiple stakeholders and the innovation process.

Continuously innovating model, process or technology sets the company apart.

Chances of success is very low but if successful, they tend to grow really big creating many more jobs when compared to SMEs.

So what's your preference? Let's discuss your interests.

Although my focus remains innovation driven entrepreneurship.

I recommend equity trading to promote the debatable growth of your company.

The problems in our world are becoming extremely serious and complex.

These issues or pressing needs are evident everywhere.

In time past, entrepreneurs has come up with the best solutions for these problems,

And I have faith it will happen again in Africa.

Nigeria needs more and better (social) entrepreneurs;

A goal-getter who is readily testing ideas and products on real customers;

The answers to any business questions is often out there...

In the marketplace with a customer who has an unmet need.

Solutions do not lie in a book neither with a coach or mentor;

Although either can help you think systemically about;

How you can produce an economically sustainable solution.

Ignoring primary market research will not make you a better entrepreneur.

Reach out to potential customers,

Your iteration pattern must be continuous till;

A perfect solution at the right price is attained.

As business expands beyond the minimum viable product;

You'll need to learn more about the following:

Creating an organisation culture

Selecting founding members

Team building

Leadership

Product development

Selling and sales strategy

Serving the customer and the processes

Building financials and managing cash flow

Raising funds to grow the business

Using good corporate governance practices and lots more

I hope that this framework will help you get started;

Be intelligently effective and set priorities right.

Nuture and cultivate the entrepreneurial spirit.

Channel your efforts to stay in business while eliminating any limitations.

Is it to make money?

Don't be deceived most startups fail.

Perhaps to enjoy freedom or work less.

Entrepreneurship requires hard work which places more demand on your time.

Do not start a business just because you dislike your job or boss; this is a No-No.

Entrepreneurship isn't easier than a nine to five job.

Could it be you crave pride of ownership or fame?

The success of the business is guaranteed if only you...

Focus on creating and delivering value, not just becoming a celebrity.

Possibly you do not wish to be answerable to anyone.

You will always be accountable to customers, suppliers, employees and yourself.

If you are in business just for the fun of it, be prepared for the good and bad times.

The workload is often overwhelming.

Maybe family and friends wants you in business.

This can be problematic, although achievable.

Deep thinking is highly recommended.

Being motivated for right reasons;
Helps you pursue dreams of starting and sustaining a profitable company.

Is the entrepreneurship lifestyle for you?

Protect yourself from the risk involved.

Try identify what's driving you...

So it becomes possible to clarify the desired outcome.

 If you don't start your business for the right reasons, it's destined for failure.

Experience has always been the best teacher; mentorship is essential.

Disciplined entrepreneurs do not force a new business idea.

The necessary requirements for implementation must be present.

Consider innovating or an unserved need in the marketplace.

Choose an idea that exchanges value for money with a multiple paying customers.

Validate your idea.

Make no assumptions.

Get feedback from potential customers.

 If you see an unsolved problem or unmet need in the market;
Offer a superior solution.

It's okay to improve learning or take on new responsibilities.

Entrepreneurship offers great work experience.

Adopting a forward thinking approach helps during challenging moments.

The ability to maintain positivity, consistence, commitment  and determination distinguishes the successful entrepreneur.

Never accept defeat nor failure.

As you work hard and smart, your passion and excitement sustains.

Leveraging on relevant industry experience will always be an added advantage when compared to a novice.

It's certainly okay to have a great idea but you need basic resources to turn the opportunity into reality.

Troubleshoot the idea.

Assess your circumstance.

Have you got the cash, contacts, information and know-how that'll help you accelerate your success?

Connect with an innovator on the idea hunting platform;

Let's discuss your project today!

THE LAW REQUIRES GOOD RECORD KEEPING

Can you recall being stuck?

Then you got insights and a breakthrough!