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Archive of ‘Business Women’ category

Key Questions to Ask When Choosing a Business Partner

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keyquestionstoaskwhenchoosingbusinesspartner

keyquestionstoaskwhenchoosingbusinesspartner

Now that you have decided to choose a business partner, what do you do next? The first step you should take after you must have narrowed down the likely individuals that possess the right skill set is ask the right questions.

Why Mrs A, what is she bringing to the table, how do I know that she is the right person, how do I approach her and work things out, what am I offering her. Why Mr B, what is unique about him that I want to tap for my business.

I am planner, I believe that when you plan accurately, there will be little or no mistakes involved when you start acting. So I write things down, I evaluate, I look for all the possible scenarios before I start taking action.

I ask the right questions. Ask the right questions, don’t rely on your intuition alone or your guts. Ask the right questions before you even approach your potential business partner.

Here is an infographic that depicts the key questions you should ask your potential business partner before you approach them.

questionstoaskwhenchoosingbusinesspartner

3 Reasons Why You Should Consider Getting a Business Partner

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businesspartner businesspartner Photo Credit: http://www.ravishly.com[/caption%5D

 

A successful business has just one ingredient, the right people. Once you get this right, your business is on its way to financial excellence. Getting a business partner might be a burden especially if you are someone who doesn’t like relinquishing power but they always say that the true test of a leader is how her followers thrive.

A business partner brings in extra pair of hands to your business and this is almost all you might ever need to succeed. Here are three reasons why you should consider getting a business partner.

Financial Resources – The idea is there, it’s perfectly etched in your mind, you have started market research to go full force on your business plan but you lack the financial resources to actualize your business goals. So what do you do next? Find a partner.

As much as you might hesitate with this advise, don’t completely ignore it, secure the money. Some of the most successful entrepreneurs in the country didn’t finance their businesses with their own money. They financed it with other people’s money and trust me they are super successful. Once you have a business that other people can bet their money on, don’t be afraid to go for it. Ask people who you know you can trust. Give them a substantial stake and voila.

Connections – There are entrepreneurs that choose business partners because of their connections. There are people who don’t have the financial resources but they have the right connections. Their connections can be worth a million dollars if you press the right button.

These guys have connection in Aso Rock if you want, they have connection in every state house or they know how to get connection in every state house. I once read a quote that claimed that you are just three people away from who you want to meet. That means that if you want to meet Aliko Dangote, you are just three people away from meeting him. So find a business partner that has the right buttons and define the one you want to press.

Relevant Skills – Great skills are hard to find, when you find the right business partner with the right skill set, you are well on your way to financial excellence. Some people are great salesmen but with no business idea. Some are gifted with a million and one business ideas and they can see a business from start to finish but they know next to nothing about selling their products.

So where do they meet, how do they connect. Vital reason why you need a business partner. Find people who personify all these reasons and speak with them, they can even be silent partners, if that works for you. The most important thing is they have to be strategic to the realization of your business goals.

 

How to Keep Your Business Going Despite Fuel Scarcity

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fuel scarcity

Fuel Scarcity oh fuel scarcity, you are back again. This is what every Nigerian is thinking right now. Minister of State for Petroleum Resources, Dr. Ibe Kachikwu during a town hall meeting with Petroleum Products Pricing and Regulatory Agency (PPPRA) in Abuja on Tuesday said “Hopefully by today through Thursday, the fuel queues in Abuja should be over.

“Hopefully, the same thing will happen to Lagos and thereafter, by the weekend, we should see Kano, Katsina, Sokoto, Port Harcourt and Warri get off this state.”

Let’s add a week because in Nigeria, we know that our elected and un-elected representatives have all taken a course in Lying 101.

We can only hope and pray! Running a business in Nigeria especially during this period of fuel scarcity and low power supply is hard work.

From the subtle inflation of everything, from transport fare to raw materials, its either you adapt or survive. Even if Fuel Scarcity comes to an end, what about power supply? What is the assurance that in two months or three weeks, another bout of fuel scarcity will not occur?

This is the reason why as elegantly confident African women, we have to ensure that all the fuss doesn’t affect us, we have to keep our business going, come what may.

Here are 4 Tips on how to keep your business going despite fuel scarcity and low power supply.

Don’t Always Rely on Your Car or a Car

Not everyone enjoys the wahala of hustling for bus but in this current situation, let your car rest. No one wants to keep queuing and buying fuel every time especially when you have customers waiting for you. Just drop the car, utilise your leg and your fast skills, no one will castigate you.

Be Absolutely Mobile

Carry your phone charger, your torchlight, your power bank charger, every gadget and its chargers must always be with you. No this might sound ridiculous but in this current fuel scarcity situation, you don’t have a choice. Carry any extension box too in case there is no space.

Keep at least one Five Liter Keg in Your Business Environment

It is allowed because at any time, you can hear that X filling station nearby is selling fuel. So ensure that you must always have a petrol keg nearby. Another tip is to also be friends with one black market seller. Some situations, you can’t just help but purchase black market, just ensure it’s a reliable person that will not mix the product.

An Inverted is not so Bad

Get an inverter, an Inverter allows you to run your business for 24 hours nonstop. Now that we don’t know what the future holds, ‘powerfully’ for Nigeria, an inverter is your surest bet.

 

5 Lessons Every Entrepreneur Must Learn from Olamide’s Abule Sowo

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Olamide Abule Sowo

Olamide Abule Sowo

Olamide aka Baddo is the original voice of the streets, from his humble beginning in Bariga to the streets of America, Olamide is the truest representation of the Nigerian dream.

His latest album, Abule Sowo is a combination of guts and glory. When you watch the video, apart from the normal Olamide blast of goodness, you can’t help but notice the confidence that comes with the dance and the lyrics.

Here are 5 Money lessons every Nigerian woman should learn from Olamide’s Abule Sowo.

No one was created to be poor

You know say i no be gbaroof eh
And i no like awoof eh
Emi o waye maya eh
Set the roof on fire eh

Non one inherited poverty. We are all destined to be successful in all our endeavors. Your parents might not be successful; this shouldn’t stop you from pursuing your dreams. People might tell you that you won’t make it, this shouldn’t deter you from becoming successful. All it takes is tenacity and hardwork, definitely favor will continually shine on you.

The God Factor is all that Matters

They say my level too low
Baba God dey lift me higher eh

 Whether you are a Christian or a Muslim, God is the most important factor in our lives. It has never been about how much money you have or how much money is coming your way. Its only mercy and grace that keeps us. In everything you do, in all that you have, never forget your creator.

Don’t Take Nonsense

Omo abule sowo (omo abule sowo)

If anybody fvckup (if anybody fvckup)

I go put them in their place (omo abule sowo)

I no do real estate and management but

(omo abule sowo)

People will disappoint you, some will tell you that you will never make it, but as an elegantly confident entrepreneur, let them know that they should keep their opinions to themselves because ‘it doesn’t matter.’ One of the challenges you will face on your road to success is the fear of failure and the fear of people who will think you are failing. This is the reason why you have to ensure that no one takes away your confidence and determination.

Always Stay Humble

Because am keeping my cool eh

Bi ti haier thermo cool eh

Wan loun fi ogidan we ekun eh

Erin wan bow a de’kun eh

Never stop staying humble. Keep your cool, no matter how successful you get, no matter how bloated your ego should be, keep your cool. You don’t have to be boastful before people know that you are successful. Sometimes we are tempted to showcase our success to the world and all but don’t. Continue keeping your cool each and every single day.

Your Success Will Amaze the World

Kole ye wan, bomi se wannu agbon
Young presido, biti idi agbon
Wan fe mumi, ngbo dey say na who
Ma pe laye biti ebora oru

No one can specifically explain how water enters the Coconut, the mystery is the stuff of legends. When your success amazes people, it’s a good thing. Infact when we pray for divine turn around, this is what we are asking for. So keep achieving entrepreneur, never stop dreaming and achieving because your success will amaze the world.

2 Types of Employees You Should Hire

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Photo Credit: http://www.contractorsassociation.org Photo Credit: http://www.contractorsassociation.org[/caption%5D

Running a business on your own means you’re used to working long hours and juggling lots of responsibilities.

Whether your goal is to reduce those long hours, to improve productivity, or to bring in new expertise, hiring independent contractors or employees might be just what your business needs to keep growing.

Building your team is an exciting step, but some aspects of hiring and managing workers could pose a challenge if you jump in without learning the basics.

As a small business owner, here are two types of employees you can hire.

Employee

Someone who performs services or labor for you on an ongoing basis, and you control what will be done and how. Employees stay on past the completion of each project. They tend to work at your businesses location, using equipment and tools that you supply.

Contractor

Someone who performs services or labor for you, but is responsible only for the results, not how the project will be executed. A contractor’s work is usually done at the completion of each project— there are no ongoing responsibilities. Often they charge more, use their own equipment, set their own schedule and take care of their own business expenses.

Why it’s Different

Since contractors are self-employed, an employer is more like the contractor’s client than their supervisor. Independent contractors also don’t get a lot of the same benefits as employees. They don’t get offered sick leave, vacation, health insurance, and any other benefits an employer might offer to attract an employee. The contractor shoulders all of these costs since they’re treated like a self-employed business.

All of this is fine as long as the independent contractor gets to be their own boss as it’s intended. For some types of business, you need to hire a contractor who will get the job done and leave while for others you need to hire an employee who will stay on to become the face of your brand.

Considering your budget, find and hire the one that best works for you.

How to Pick Out the Best Candidate During a Job Interview

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best candidate job interview

The fact that you own a small business doesn’t mean that at some point you won’t need to hire someone and build a team. When hiring there are certain things you need to pay attention to in order to select the best candidate because only the best candidate can help you achieve all your goals and objectives.

Here is a quick guide on how to pick the best candidate to join your team during a job interview.

Ask the Right Question

The right question is the one that generate genuine responses. Most applicants have already rehearsed their answers and no one wants to listen to robotic answers. This is why you have to ask popular interview questions in a different way. Answers will demonstrate their level of self-awareness and tell you if they can think on their feet.

Be Observant

When interviewing a prospective candidate, read between the lines. Their intonations and physical gestures will tell you a lot about who they are and what they propose to do. Remember that if you select the person, he or she will be the face of your brand, representing your brand everywhere, so ask yourself, is this the person I want or not?

Does the Person Fit into Your Business Culture

If you have a Make Up Business and you need extra hands, would you hire someone that doesn’t wear Make Up? As a business owner, do you have to work independently or team up with other businesses to perform your task? Are you running as it goes business or let’s get things done business. You have to hire the right person that fits into your business culture.

Attitude and Ability Matters

Attitude and ability is innate, it stays over time even if the person changes jobs frequently. Even the bible says anything worth doing is worth doing well, a person’s attitude to work will go a long way in their success in life. So hire candidates that even if things are not going smoothly, they will stick with you and help you grow your business. Not everything in life is about money.

4 Ways to Make Employees Happy (Without Adding a Kobo to their Salary)

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makeemployeeshappy

makeemployeeshappy

Money doesn’t buy happiness, that is why a raise is not a sure fire way of making your employees stay. Constantly showing an employee how much the company appreciates, respects and values them on a personal level is much more gratifying.

Here are four ways of making employees happy without giving them a raise.

Encourage Communication

Create spaces where employees can freely communicate and share ideas. Make offices inviting and effective with nice furniture, tables, snacks and beverages. Casual conversations offer collaborative conversation that will grow your organization. You should also create opportunity for your employees to share ideas with you. Ensure that conversations is the office is mostly interactive.

Help Your Employees Move Up the Career Ladder

Creating a career pathway for your employees will definitely make them happy. Providing developmental support, such as training opportunities and career mentoring will help your employees become the best at their chosen careers. In a situation where they know that they will just work without moving up the career ladder, their output will be very poor because in the long run, nothing will motivate them.

Recognize and Reward Hardworking Employees

Let Employees know that you are fully aware of their contributions and there are rewards for hard work. You can create incentives like Dinner to Two, Spa Treatment, One Day Off, ensure that these incentives are such that will make them strive to work harder.

Make Employees Part of the Big Picture

When setting up your business, you had a big picture in mind and each and every single day, every activity is directed towards achieving the big picture. That is why you have to include your employees in the big picture. Give them something to be passionate about. By providing a goal they can work towards, they know that their efforts no matter how little isn’t in vain.

3 Things Every Employee Should Learn from Olajumoke Orisaguna

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olajmoke orisaguna employee

olajmoke orisaguna employee

Olajumoke Orisaguna’s story will never be forgotten. Decades from now, Nigerians will still talk about the bread seller that became a star. In one moment, her life was transformed and she became an overnight celebrity, the classic Nigerian dream.

As her story unfolds, there are 3 things every employee ought to learn from Olajumoke’s story.

Hard Work

She didn’t sleep in the comfort of her home that morning saying she wasn’t going to hawk bread. She woke up and despite the fact that she was feeling sleepy as usual, she balanced the plank on her head and she hit the road.

If you have ever observed bread hawkers, you will know their modus operandi. Early in the morning by 5 am, they are up, by 6 am, they will hit the road going from street from street advertising their bread.

After selling the bulk of the loafs for that day, they rest for a while then in the evening, they will pick up the unsold loafs and hit the streets again. This is the cycle every day and this is one of the amazing things every employee should learn from Olajumoke.

Resilience

Resilience is the reason why even of the stress is out of this world, we do it anyway. Resilience is the reason why despite the traffic and the stress, we still wake up in the morning to head to work. Resilience is the reason why we are extraordinary women. Resilience is what we should all learn from Olajumoke Orisaguna.

Despite all the hardships that come with street hawking, she still finds the strength in her spirit to work hard to feed her family. This is the spirit every employee should inculcate, the spirit to always be resilient no matter what happens.

Loyalty

Loyalty is the key to succeeding in any endeavor. They say anything you find yourself doing is worth doing well. That means that the job you are doing no matter the circumstances you find yourself deserves the best of you. Olajumoke was just a bread seller and even after her overnight fame, she still acknowledged the Bakery she used to work for. That is what shows that one is a good employee, loyalty even after you have found greener pastures, always remain loyal.

Loyalty + Resilience + Hard work are the 3 Things Every Employee must learn from Olajumoke.

 

 

 

 

 

5 Ways to Use Twitter to Grow Your Small Business

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giphytwi

Twitter is the on the go platform for social networking. On Twitter, everyone and anyone is making noise about one thing or the other. From businesses to religious organisations to politicians to government officials, our timelines are getting more and more flooded each and every single day.

Twitter recommends that the best way for small businesses to stand out is to produce sparkling content that speaks to the heart of the user.

Twitter can help you generate more customers who are willing to patronise and engage your brand each and every single day.

Know Your Customers

At one point or the other, you must have filled bank Know Your Customer form. The purpose of KYC is to know who your customers are, what they need and how to best meet their needs. Online we call them audience, you have to find your audience and identify them. Using the Twitter twitter.com/search-advanced search, the billions of tweets that are sent every week are all available to be searched and sifted through.

The search button will help you find new customers and engage them, drawing them towards your business.

Identify and Connect with Brand Influencers

By identifying and building a relationship with influencers, you can greatly benefit from word of mouth marketing. To find influencers, start by searching for your industry’s keywords and pay special attention to who is getting tweeted about the most. Put them in a list to track what they are tweeting about so as to figure how to plug into the conversation.

Advertise

Twitter Ads offers many types of advertising, including promoting your account or promoting specific tweets, that you can purchase to reach potential customers who may not yet be aware of your brand. Although it is not a cheap way of getting your business out there, Twitter ads will prove very effective for your small business if you can carve out a small investment to dedicate monthly.

Tap into Hashtags

Hashtags will improve your brands visibility, especially ongoing trends. Hashtags have been described as the little window that connects your brand to the world. Using relevant hashtags related to your industry will make your small business visible when people type into their search boxes.

Create Rich Engaging Content

You have to draw your audience in with reach engaging content, using simple online tools like Canva, you will find free templates that will help you design like a pro. Even the paid templates are not so expensive. With such tools, you really don’t need to burden yourself with the cost of employing a graphic designer.

Photos, Comics, Memes, Short Videos will drive engagement because statistics have shown that people are 3X more likely to engage with Tweets that contain such media.

 

 

 

 

5 Simple Instagram Tips to Help Grow Your Business

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giphyIG

There are successful female entrepreneurs who have grown their businesses with Instagram. Open your Instagram and check out the long list of Make Up Artists, Wedding Planners, Photographers, Stylists who never stop making all the noise they need to make about their services.

I heard a story recently, a young girl who started out as just an ordinary Make Up artist a couple of years ago now rakes in about N600,000 naira every Saturday. She always has nothing less than three brides to make up.

That is the power of Instagram, after one gig that is picked up by popular handles like @naijaweddings and the likes, people follow her and they check out her pictures and as they say, photos tell a million stories.

So whether you are a Fashion Designer or Retailer, don’t neglect the power of Instagram to help you grow your small business because who says you can’t get 90% of all your customers via Instagram.

Here are 5 simple Instagram tips to grow your small business.

Connect it with your other social accounts

You will get more followers when you connect your Instagram account with your other social media accounts like Facebook or Twitter because what you post on IG will automatically reflect on others. This will increase the visibility of your brand and products or services.

Post What People want to see

It starts with you, what would you like to see on Instagram, sometimes, small business owners think they have to invest in photo shoots to be able to project their brands. Big no, with your phone, you can take good photos and do some light editing and voom, put it up because you can never tell how far one photo can go. Ensure your stream delivers value that people can’t get anywhere else, all boils back to what would you want to see on IG.

Use Hashtags

You can reach even more followers if you use #Hashtags because when people search for anything that is related to your hashtags, your stream would be among the results they get.

Respond to Comments

Don’t ignore your followers, keep the conversation going, the fact that you are a humble person will draw them closer to your brand. Follow people back and you can also connect with them on other social media sites, believe me, this is a sure fire way of gaining loyalty.

Be Consistent

Consistency is key, ensure your audience gets new content from you every time. Don’t post today and abandon your account for the next few months, as often as possible, release fresh content and plug into conversations online.

 

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