Africa Business Classroom (ABC)

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How to Make Money in Nigeria or Africa

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money in the hands
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Today I will be sharing with you a topic which interests most of us (or all of us)… how to make money.

To start with, what is money?

I know, that question sounds stupid. Since you`re not a baby, of course, you know the definition of money and what money is. Your Economics teacher in secondary school must have taught you that money is medium of exchange of good and services (or something similar).

But you see, no teacher (or lecturer) ever taught you how to make money. That`s one of the reasons why I hate school.

Now, listen to my definition of money … money is the reward we get for offering values and making the world a better place.

If we see money in the light of my above definition, we`ll have a better approach for creating wealth.

To create wealth, you have to understand that your primary task is to offer the world around you (your street, your city, your country) some values. Riches is only a reward, not a goal.

Let me explain with an illustration I love very much.

Because our fathers needed eggs and some chickens to slaughter at Christmas, they would start rearing chicks. Though they really don`t care about chicks, they would feed they, shelter them and care for them.

At the end of the day, these chicks would grow up, become chickens and start laying eggs.

The richest people understand this principle better.

You too should understand it.

Creating wealth is about giving first, then getting rewarded later.

3 ways to make money

Let me quickly share with you three ways by which money can be made.

First, in some illegal ways. I know this is not for you. I am just writing this for both of us to understand this issue of money making very well.

You know people get money by stealing, people get money through political frauds, People get money through hard drugs and some other dirty things like selling fake products or doing 419 (you understand that term if you`re a Nigerian).

I don`t need to tell you… those are odd and risky ways to get money and you won`t become (truly) rich from any of the above ways. What value is the money you get in exchange for your peace of mind?

It doesn`t worth it.

Another way you can get some money is by getting a job.

There was nothing bad in getting job until the last 100 years when things started to be changing in the population and the economy of the world.

In the last 90 years for example, the whole world`s population was less than 2 billion. Most of the world population are in the rural areas and the others in urban areas are having more companies calling them than they can work with. Remember there was no much technology, so most of the jobs are done by human beings.

Getting a job was interesting and that was the reason why school was the best place to be.

Now, things have changed so much.

The world population is now over 7 billion. Technologies are doing most jobs. Good jobs are now very (did I say very very?) scares, so job is no more a good way to create wealth.

Unfortunately, our universities, polytechnics and colleges are still busy teaching our young adults how to be employees.

That`s why I hate school.

To me, we`re very stupid to continue teaching our children how to get job when we are all aware that there is no more good jobs.

About 2 million people are joining labour market each year from Nigeria alone, no job, and our use-less schools are still training children how to be employees.

You can`t understand how much I hate school!

(I wouldn`t want to waste your time on this topic about how school is a mess. Please, get our best-selling business course titled, 10 Secrets School Did Not Teach You about Business & How to Make Money. It`s 100% free. No email is required)

Let`s continue.

After I have cleared out some dirty means of getting rich and I have explained the reason why getting a job cannot make you rich, then, the only dependable way to make money (especially in 21 century) is to be a business owner.

How to make money by being an entrepreneur?

Honestly, it`s not a very easy thing.

Ounch! I shouldn`t have told you that. I`m sorry. I should have told you, “You see, making money is very easy”. Isn`t that what most people on the internet say these days? Yet, I mustn`t tell you that. I have to tell you the truth.

Do I really mean that it`s not possible to be rich?

I know that`s what some people will “hear”, though I never said that. Getting all the money you need for your life isn`t an impossible dream, but it requires some know-how.

Making money as a business owner can be by producing a product, selling someone else`s product, rendering a service or selling your talent (just as football players, movie artists and musicians are doing).

Whether you`re selling your own product, another person`s product, a service or your talent, you`re an entrepreneur.

You can create wealth as an entrepreneur if you can do these three things:

1. If you can learn.

“The number one problem in today`s generation and economy is the lack of financial literacy”… Alan Greenspan. Most people who ask the question, how can I make money, really are not told where to start. Where to start is to be business minded.

I know, you have been “good job minded” all your life. That`s not your fault. That`s the fault of that prison call school. Now, you must become business minded. Open your mind to business. Think business. Talk business. Plan business and… read business.

When you`re mindful of something, you`ll want it to be the number one thing in your taught and you will want to know about it… in and out… left and right… up and down. Believe me, if anyone asks me “what is the solution to the problem of poverty and unemployment in Africa?” my answer will be in two words… financial education (or business education).

The primary reason why there are more poor people in the world than rich people is because most people don`t know how to be rich. Read this quote and think about it…

“There is a secret psychology of money. Most people don`t know about it. That`s why most people never become successful” … T. Harv. Eker.

I know someone may have a question here… what if I want to sell my talent as a footballer, musician etc., do I still have to be financially literate? Yes. A musician who doesn`t understand marketing and other business concepts may sing good song, but he may not be able to sell one thousand copies of his work.

Many athletes have made millions of naira and lost all because they really did not understand how to keep money growing.

If you are a writer who writes the best poetry novel, you`ll need business skills to sell your book and financial skill to keep that wealth growing.

Why are most people ignorant about wealth acquisition? Why is it that most people don`t know that there are some skills to acquired in order to be rich?

Because school never taught us how to make money (and whatever school doesn`t teach, most people don`t know). The good news is, reading books about business is very interesting.

Business/financial books will not bore you like academic books… because they are always very practical and interesting. I started reading about business when I was around 17/18. I fell in love with business and motivational books to a point where I carried them everywhere I go (even up till now).

Then when I was on campus, I would be reading 30-50 books (about business, finance, leadership etc.) every year. Some of my friends would have advised me to avoid failing as a result of reading too many non-academic books, but they couldn`t (since I was the best student in my class).

My dear fellow African, will you believe me if I tell you the truth? Financial education is the place to start, if truly you want to acquire wealth and become rich.

What should you do? Where should you start from?

First, read everything on this website (you can find all our past tutorials here). You will be wiser, smarter, and be on your way to be rich after reading all the business tutorials on this website. After all, they are free.

Second, get our free business course (10 secrets school did not teach you about business and how to make money). This business course has changed many lives. We`ve being selling it since 2013, but now, we`re giving Africans for free.

Third, reach out and get some good financial and business books in a nearby bookstore. You should also check our wonderful business trainings and books here.

About 7 years ago I was reading a book by Brian Sher. Sher said, “The shortest cut to riches is financial education”. He`s very right. `

2. Be a doer.

When you start acquiring financial education, (almost instantly), your eyes will start opening to money making business opportunities around you. You will start “seeing” gold you never saw before, all around you. When this start happening, you have to be a doer, an actor, a runner.

Entrepreneurs are actors.

They`re not talkers.

You will be faced (or you`re already being faced) with the temptation to start big or perfectly. Resist that temptation! Starting a business is rarely smooth.

When Sam Adeyemi (a Nigeria motivational speaker) said, “start where you are with what you have”, he`s offering a great advice. Most people understand that the best way to acquire riches is to be an entrepreneur, yet, they`re still waiting, for what? For a perfect moment, great idea, huge capital

You have to be a doer, an actor, a runner.

You`ve got a business idea? Start it little, with all your heart and life. When you start, growing become easier. When you start, nature comes to your aid.

I came across a powerful quotation that inspired me about 8 years ago. Let me share it with you…

“Whatever you do, or dream you can, begin it. Boldness has genius and power and magic in it”… Johann Goethe

3. Cut failure away from your dictionary.

As an entrepreneur, your opinion about what people call failure must be different. For an average person, failure is when you attempt something and do not succeed at achieving your aim. Business people don`t see that as failure.

Over the years I`ve been amazed by how “failures” led me to the higher ground.

Most times what you`ll see happening is that, you attempt something, you are hit by a defeat (usually bitter and makes you cry). But that “failure” forces you to think in another direction (and of course, makes you smarter). Right at your new direction lies a better success. It`s not uncommon to see entrepreneurs who start an entirely different line of business getting wonderfully successful in a new field that “failure” forces them to.

I have experienced many “failures” in my entrepreneurial journey. Some of them made me wake up at night and cry, some of them made me to think I was stupid to be in business in the first place while all of them have made me a better person.

As someone who desires to make money, you have to cut out the word failure from your own dictionary. You have to see failure as a ladder which has to be climbed to the riches you desire.

Anthony Robbins in his book, Unlimited Power, encourages us to learn how to manage frustration. In his own view, the more of frustrations you can cope with (and still continue pursuing your dream), the more wealth you will acquire.

Conclusion.

If truly you desire to be rich, your primary task is to think about the value you can sell, either as a product, a service or your talent. Any of this may require some hard work, commitment, practice and dedication, but you can be sure you`ll make money at the end of the rope.

You may want to start a business and have no idea. Read this comprehensive tutorial about discovering business ideas

You may want to start a poultry business. Read this tutorial about poultry business

You may need some very good business books and trainings to help you, click here

I love you.

What is marketing?

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marketing agent
Image courtesy of Stuart Miles at FreeDigitalPhotos.net

If there is any term or concept any business owner (or potential business owner) should understand deeply, then, that`s marketing.

(This tutorial will seek to explain in detail, what marketing is. If you want to know about marketing strategies to grow your business that is treated here)

Marketing is the blood of any business (or any organization or association) because it`s through marketing any business, organization, or even political party convinces the general public (customers) to patronize its offers or embrace its ideology.

So, what is marketing?

Marketing is the process of identifying consumers` needs, creating products/services to meet those needs and communicating effectively with the target market in order to sell the products or services at profit

The above definition is by no means academic. I expressed it above in a simple term, so as to let my fellow African entrepreneurs understand what marketing is.

If you need a “formal” definition of marketing, then, here you have some of them:

“Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably”… The Chartered Institute of Marketing

“Marketing is communicating the value of a product or service to customers, for the purpose of selling that product or service” Wikipedia

Without wasting more time on definitions, permit me to explain in simple language what marketing is.

Whenever anyone gets a business idea, he/she will have to do three important things.

First, identify the kind of people who may fall in love with his/her product or service. This step is very important because there is no product/service that can get everybody excited… some people will not just love what you`re selling or doing.

Second, create such product/service in exact way as your target market will love.

Third, promote your product/service to your market whether through advertising, word-of-mouth or sample giving.

Now let me emphasis that many experts try to define marketing by excluding the first two steps (i.e., Wikipedia above). I will not want to agree this is right. The reason is because if you fail to identify your target market, how do you want to know what kind of product, package, distribution, etc. that will be appropriate for them?

If you don`t know this, how do you want to create your product or service in such a way as your customers will admire.

In fact, there is no way you can effectively advertise or promote your idea if you don`t have a deep understanding of who you`re promoting to. The reason is simple. Advert that will work for people in the Northern Nigeria may not work for people in Southern Nigeria.

Promotion that will succeed in South Africa may fail in Ghana… that`s the reason why I am of the opinion that marketing starts even before a product or service gets to the market.

Listen to what the management guru, Peter Drucker has to say, “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself”

Now you see, the first process in your marketing effort is to identify and understand (very deeply) who your customers are. If this stage is carried out with all diligence, the other two steps (creating product/service and promoting it) will be lot easier.

Let me also share with you what marketing genius, Seth Godin has to say about marketing…

“Marketing is a contest for people`s attention”

Whenever you walk out and see billboards, whenever you sit down and watch television, whenever you pick up a newspaper to read, you`ll find a whole lot of advertising. These advertising are from companies, organizations, political parties, etc. What are they doing? Contesting for your attention. That`s marketing.

Since your product/service is going to a market where there are tens (or hundreds) other similar products/services, getting people attention is very important.

5 secrets of great marketing

1. Great marketing is directed at specific

You want to create a product, service, political organization etc. that everybody will love? Go and sleep, maybe you`ll have a dream of what that could look like. Lol.

I read a book written by Frank Kern (titled Convert…). Kern writes about how he released some “offensive” advertisement. Why offensive?

Well, offensive to people who are out of his target market. While trying to sell your product/service, there will be this temptation to structure your promotion in such a way as to appeal to everybody. Great marketing don`t do that.

Identify who and who are your target market and structure your business and marketing appropriately.

2. Great marketing promotes wants not needs.

Hummm, I learned this lesson in a little hard way. I once wasted about nine months of my life trying to sell my service to certain group of people who “need” it.

Maybe you don`t know, people don`t buy what they need. They buy what they want or what they must Insurance industry is selling what people need to buy, hospital is selling what people must buy. You can see why one industry is struggling and the other is prospering. People in fashion business understand this principle.

That`s why you see that 90% of fashion business is directed at ladies/women. Men buy clothes when they need them, ladies buy clothes because they want them. if you understand this, you will structure your marketing in order to meet people`s want, not need.

3. Great marketing doesn`t sell product/service, it sells solution.

Who cares about what you`re selling? Only you and your mum. What people care about is the solution to their problems or wants. Your marketing messages must “talk” more about how your target customer gets his wants met by buying your product and not about you or your organization

4. Great marketing communicates to emotion, not reasoning.

Do you remember what our psychology teacher taught us? Human beings take decisions with their emotion and then justify with their brain.

The meaning of this is that, most people will not patronize your business (even if it`s the best in the country), if it`s not appealing to them emotionally.

Yes, most men will not approach the best lady in town (no matter what your own definition of best is) if she`s not physically attractive (if you`re a lady, be warned, revealing clothes isn`t what I mean here).

Most people will not be attracted to your marketing, if it`s not emotional appealing.

5. Great marketing promotes great product.

Marketing is only a channel (though very important channel) to sell your product, service or ideology.

The best marketing in the world will fail if you`re using it to promote a poor service, product or ideology. Marketing is so important to a business that without it, no business venture can be successful and in the other side of the game, the best marketers in the world will fail if they try and promote a substandard service or product.

The reason is because they will not have repeated nor loyal customers who can tell others about their products or services.

Without repeated customers and loyal, unpaid ambassadors for your idea or product, you cannot go far.

This tutorial was written to explain what marketing is. To know about marketing strategies to grow your business, click here

Thanks.

Business Proposal: 7 tips on how to write it.

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Business proposal in Nigeria
Image credit; Huffpost

Dear friend, you’re welcome to the Africa Business Classroom (ABC).

I started my first business before I was a boy of 15. Today I run my company in Lagos and operate in different states of Nigeria.

Make sure you read every word of this post and come back to download my 2 free business books HERE

Let’s start this tutorial…

As a business owner, whether small, medium or large scale, you will at one point in time have to write some business proposal.

In fact, for some businesses, you may have to write business proposal every week/month

To start with,

what is business proposal?

For so many people, business proposal and business plan are both the same thing. That`s not correct. Business plans are the goals you set for your business and the step-by-step plans about how you intend to achieve them.

Business plan is useful for you to maintain focus in pursuing your entrepreneurial aims and objectives and it could be a good document to convince investors that you have a viable business project, so that they will be willing to raise capital for your business.

Business proposal is different in the sense that it`s not written as a goal for your enterprise or a document to negotiate capital. Instead, business proposal is the letter (or document) a business submit to the potential clients or customers with the intention of winning a business deal.

Now you see the difference.

When you`re writing business plan, you`re simply writing goals for your company. You will as well include some sections on the strategies and tactics you plan to use to achieve those goals.

In writing business proposal however, your intention is to use your letter, or document to win business from the potential customer.

Now that you`ve understood the differences, you may want to read about business plan. We have a good tutorial about business plan here.

Should you still need a few clarification, here is it.

Let`s assume that you`re dealing in computer hardware and a company you know about is planning to open a new branch. You`re aware that this company usually need 25 computers for each of their branches.

Now you will want to write an application to let that company know that you deal in computer hardware and that your computers are the best around.

What you`re going to do here is to write a business proposal.

Let`s look at another example.

You are watching AIT (a popular African T.V station) one Tuesday evening as you hear an announcement about how your state government is planning to start cooking one meal per day for the primary school pupils of the state, so asking general public to apply to be cooks.

Since you`re into catering business and a good cook, you will then sit down to write a “letter”. That “letter” is writing as a bid to win the contract as the chief cook or as one of the cooks.

Such document you wrote is known as business proposal.

I think you get my point better now?

We write business plan as a goal for our business while we write business proposal as a document (or a letter) to win business for our company.

There are two different kinds of proposal.

First one is when the company A needs certain service/product and make a public announcement that they need such service or product. This is called Solicited business Proposal.

That is the example I gave you in the example 2 above (where your state government made an announcement that they need some cooks and your applied)

The other kind of proposal is when business B discovers that Mr. C needs certain product/service, though Mr. C do not make any public announcement about it (or he doesn`t even know he needs your product/service), business B makes a trial to convince Mr. C to buy his service/good.

If you have been into business for more than one month, you definitely have “written” business proposal before now… but you may not know.

Here is an example.

A lady came to me about two days ago and told me that he will like to render her service to an organization I’ve once worked for. She told me how she had made an attempt to go there are convince someone holding my formal office and she wish I could help increase her possibility of getting a YES.

Think about that. She had “written” a proposal, but she never knew.

Now you can remember how you too have written some applications in the past (even with your mouth).

Wait!

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Because I want you to become a successful entrepreneur like me, I will reveal the 13 secrets to you. Click Here to download it for free.

…………………………..

Let`s move on as I will go deeper into some step-by-step guild on how to write a business proposal.

1. Research to know the problem your potential client have.

We have discussed about that your aim is to apply for, and win some business deals or contracts.

Your first duty is to convince your potential customers that you understand their problems.

As you know, we all love to trust people who can analyze certain problems bordering us.

Somehow we think, “If he understands my problem this much, he must know how to solve it”. If you visit a medical doctor who diagnose your headache and say, “Mr. X, it seems you have being denying yourself good sleep for the past one week”. Since he`s right with his diagnoses, you`ll immediately believe he has the solution to your painful headache.

If on the other hand he said, “Mr. W, we have tried to know what may be the cause of your headache but we couldn`t get any. Anyway, take the pill and check back tomorrow”. You won`t believe he can solve your medical problem.

The first step in writing a winning pitch is to take time to understand your potentials client`s problem.

Even if the bid is unsolicited, you may still win the business if you can convince the potential clients.

This is an example.

Let`s say there is a business or an organization you know is doing well in the physical world and you`re a website designer. You know this organization is not having a website.

Now you`ve gotten a problem you want to solve for them. Your first paragraph may be to introduce yourself and what you do. Your next paragraph will be to convincingly explain the problem/disadvantages of an organization not being on the internet… in the 21 century.

If you will convince your potential customer how much people are logging in to the internet all over the world, in your country and state every single day and how much business they may be missing for their absence on the world wide web, you`ve done a good job of trying to win a business.

2.How effectively can you provide the needed solution?

Secondly, you will need to convince your potential customer that you`re able to provide solution for his problem.

You can be sure that you`re competing.

There are other people willing to get the same contract or business you`re willing to get. Write some convincing facts to convince your target customer that you`re the best for this service/product.

If we can still use the above example, you will do well if you can send the URLs (website addresses) of some organizations you have built website for before with your business proposal.

3. Show him some testimonies.

You remember what your psychology teacher taught you about Social Proof?

Human beings love to do what they see other people do.

We are too weak to say no when we see other people doing certain things, especially if they have good influence on us. Include some good testimonies people have given about your business in the past. This will convince the customer you`re trying to win business from.

Wait!

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Because I want you to become a successful entrepreneur like me, I will reveal the 13 secrets to you. Click Here to download it for free.

…………………………..

3. Offer your price.

Next thing is to let the organization or person you`re trying to get business from know how much it will cost them.

You will also need to convince them about the reason why your price is what it is. People love to have good bargain but don`t misinterpret good bargain for cheap offer. In fact, people hate cheap things, except if you can explain why it`s cheap.

Let me give you a simple secret….

5. Use the word “because”.

Well, I am only teaching you what my teacher taught me here. The word “because” is having a powerful influence on human thinking faculty.

Take for instance if you visit my office and want to buy a shoe which you know should be #7,500, but I tell you, “sir, this shoes is #8,300 because it was not taking through train where many shoes are packed together and get faded due to the wrong package.

It was taken here by air and that makes its quality the best you can find around this city”.

I have got you thinking,

Simply by using the word, “because”.

When you use the word “because” for people, they start thinking in your direction. So, use that word with your potential customers (and customers}. Let them know the reason why your product is sold at the price you ask.

6. Don`t sound too desperate.

How is the best thing to get what you want from human beings? Act as if you can do without their help.

Truly you can.

If you are not able to win that contract or business you won`t die. If you sound too desperate, you will be perceived as a hungry man/woman. You have lost the bid already.

6. Round off your business proposal with some optimistic statements and don`t forget to send my share out of your profit. Lol.

Wait!

After I have spent over a decade in the business world, I discovered 13 Secrets which school did not teach you about how to be rich

Because I want you to become a successful entrepreneur like me, I will reveal the 13 secrets to you. Click Here to download it for free.

…………………………..

How to Manage Business Relationships: 17 tips for African Entrepreneurs

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business men shaking hands
Image courtesy of Ambro at FreeDigitalPhotos.net

You`re going to business to make money, I know. So, what does business has to do with managing relationships?

Everything.

Everywhere you turn to as a business owner, what you see is someone… someone who determines whether you get the loan you desire, the guidance you seek, the contract you want or the sales you need to make money.

In this tutorial, I will be sharing with you 17 tips on how to manage 7 different kinds of business relationships so as to achieve your business objectives.

1. How to manage relationship with mentors/guidance.

In my experience, the first and probably the most important relationship you`ll have as a business owner is with some mentors and guidance.

These people don`t necessarily have to be “big men” or rich men. They just have to be people who know more than you do in your area of business.

In fact, they may just be your friends who are more experienced than you do in certain aspects of your business. How do you manage relationship with these kinds of people?

First, you have to understand that people in this category are usually very busy. If possible, let them tell you their best medium of communication.

For instance, one of my mentors doesn`t like to receive calls, so whenever I have a question for him, I contacted him through facebook. At the same time, about three other friends/mentors of mine can be best reached with phone calls.

Since what you primarily need these people for is for them to guard you, you need to know how best to contact them.

Second tip I have for you here is, don`t bore them with your “stupid” questions.

Yes, you`re going to have a lot of stupid questions, not really because you`re stupid, but because you`re a new person in that line of business.

Take for instance if you`re just starting a poultry farming business, you may ask your mentor, “sir, how many times does a chicken lay egg each day?” To you, that is just what is bordering your mind, but to your mentor (who has been in the poultry business for two years), that was stupid.

How do you expect a chicken to lay egg more than once a day? He may ask.

So how do you deal with this situation?

Sometimes apologize before you ask your questions. I do this by sometimes telling my mentors, “please, don`t mind my silly question…..”

You got that!

Third tip I have for you here is, appreciate your mentors. Let him know you appreciate him. Time is very scarce and if anyone spends 5 of his minutes with you, he/she deserves to be appreciated.

Let`s move to another relationship you have as a business owner.

2. How to manage partners` business relationships.

If there be any other thing that is very important in the business world, that thing is partnership. Two are better than one is what Bibles says (Ecclesiastes 4; 9).

If you will go far in life, you have to partner with people. There is no way you will know all you need to know or have all you need to have.

Now, let me share with you how you can manage relationships with your business partners so as to avoid the common headaches.

First, let there be a written agreement, especially when money is involved (and rarely will money not be involved).

People change (including your close friends) whenever money joins you together with them. So if you`re going into business relationship in form of partnership with anyone, the first thing you may want to do is to draft an agreement.

Your business agreement may be simple or complex. It may involve a lawyer or not, depending on the amount involve. Second, let business be business. Sometimes you may be having a partnership relationship with a friend or relative.

Your previous friendship or blood relationship may be coming in to the business. That is a deadly thing to do for a business.

Sit down with the person involve and let there be time for business and time for non-business relationship.

Business is a serious game and it has to be taken just like that.

Third, be prepared to lose a friend or two. Yea, this may surprise you, I know. The truth is, as you go on in life, certain persons will feel like you should compensate them more than they worth (or agreed).

There will be crash and some good friends may depart. This happen in the case of facebook.

Though I don`t know the real truth behind their story (I think only Mark knows), there are about six friends involve in starting facebook and by now they are all apart. Sometimes there is nothing you can do about such things. You just have to be prepared.

Let`s move on…

3. How to manage creditors` business relationships.

Are there successful business people who are not debtors? It`s nearly impossible. Debt management is part of your job as a business owner. Business relationships with debtors is what you have to master.

First, let your creditors be clear about when you will repay him and at what interest rate (if there be any). Second, if you are not able to meet up with the payment, tell him before (I mean days before) the agreed time.

Sometimes you won`t be able to meet your agreed time of repayment. As expected, your creditors must have being expecting his money.

He too might even own someone else and he might have promised his/her creditor too. It is appropriate you contact him before the day he will be expecting you and explain the situations of things with him.

Yes, he won`t be happy with you (nobody will be happy in such situation), yet, you have to “let your feet move with your heart” (as late Sam Loco said in a movie, Dorathy my Love).

Appeal to him and fix another date with him (now be careful not to be rash in choosing date again). Third, sometimes you may find yourself in some debts after a big business failure. This means you may not have any visible hope of paying now.

This could be terrible.

I have some practical experience of this and I must confess it`s one of those painful business experiences.

Managing business relationship with your debtors in this situation could be hard because the person at the other side will be seeing you as an unfaithful person. In fact, I have hurt two close friends of mine this way and it`s a very painful experience.

One of them borrowed me his school fees and the other one borrowed me his textbooks fee (at different time).

Each of my business in the above situations crashed. I disappointed them and broke the trust they earlier hard for me. How can you handle this situation? Make sure you are available around them, if possible.

If you`re not living in the same community, make sure you contact them often and explain to them (as much as you can), how you`re planning to repay them.

What many people do is to run away or avoid their creditors. Don`t do that. It only adds to the problem.

4. How to manage business relationship with your debtors. As you will have creditors, you`re likely to have debtors (especially if you`re having a small scale business). How can you manage your business relationship with your debtors?

First, let there be a record book where you record your debtors` debt. This is important because you`re not a computer. You will forget certain details and amount. If you do this long enough, your business will crash.

Yes, your debtors will not like the idea of you recording their debts, yet you have to politely let them know the reason why (“please, it`s because I forget things easily” will solve the problem here).

Second, don`t sell on credit to someone you don`t trust. Who can you trust 100% anyway?

Not even yourself. So be careful the way you grant people credit.

My mother was a retailer when we were living in the village (where I spent my first 11/12 years), 10 years after we had left the village, there were still some debts she was still asking her debtors of. She had to right those debt off.

The third thing I will tell you here is, avoid selling on credit, if your business situation allows you to. Debt kills businesses. Be careful.

5. How to manage business relationship with your employee.

Your employees, just like other business relationships, determine how far you will go in the business world.

First tip, see them as partners. In the real sense of it that`s who they are.

They are your partners.

You are working together with them and they deserve to be respected by you. The more you can treat them like your partners, the better it will be for your business.

Second tip, give them more than salary. Most employers think too much about the salaries they are giving every month end. They think, “If I can pay them well they will work well”.

That`s not true and I will tell you the reason.

We human beings are having a part of us that hates to be used. Take for instance if you and I were friends, so I asked you to come to my house and wash my clothes for #10,000.

You will feel like, me, wash for you? But if you are with a sick friends of yours, you may wash his clothes, sweep his rooms and cook his food, still feeling good, thinking you`re doing your friend a great service.

Why is this so?

We hate to be used. Your employees hate to be used.

How can you make them feel that they are doing a service to a “friend”?

Give them more than money. Appreciate them and do so genuinely. Let them feel appreciated and they will work with you like a friend.

Let there be some special days for them. Give them gifts. It doesn`t have to brake your pocket.

There is power in gift.

How will you feel if I give you #500? Probably embarrassed. So, tell me, how will you feel if I give you a boxers worth #500?

Now you see what I am talking about. Gift is powerful. It binds people to you.

Third tip here is, don`t be too nice or too harsh. I won`t explain this. Good luck to you.

6. How to manage business relationship with your customer.

Here is where we are going. The whole thing succeeds or fails here. Your customers are the king. How should you manage your relationship with them?

Treat them like the king. Billionaire Sam Wanton has said it, customer is the one who employs every other person and he can sack all of us by deciding to buy from our competitor.

When someone enters your office or shop, how do you welcome him? Like a king or like a slave? When she looks around and doesn`t buy anything, how do you look at him?

When she asks you silly questions how do you respond to her? When he buys from you and going, how do you greet him bye-bye?

He is the king. She is the queen. She can never be wrong, rude or stupid, even though she will be, you don`t tell him or show him he is.

I can write a whole book about how to treat your customers but the summary is, he is the one who employs you and he can sack you out of business, just by buying from your competitor

7. Now, relationship with your wife and family.

How does this affect your business? Well, you just need to compare the two men I am about to tell you about. One is having a good marital relationship and the other is not happy with his wife. How will these two men run their businesses?

The truth is, we are all emotional beings. I have told my lady I love her three times today. I derive some tonics there. I get my energy from loving her.

I am not a relationship expert. All a have to tell you is, don`t forget that your family and marital relationship can determine your effectiveness in the business world.

I love you, though not as I love her. Lol.

What is Entrepreneurship?

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business question
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What is entrepreneurship? Who is an entrepreneur? What and what are the “jobs” of an entrepreneur?

These are the questions I will be answering through this tutorial.

To start with, I will love to inform you that I will not go into academic definitions or formalized terminology here. I hate them. My duty is to speak in simple to understand language.

What I am going to do through this tutorial is to define entrepreneurship in my own words and then, I will share with you what other expert said in relationship with this subject.

Let`s get in.

What is entrepreneurship?

Entrepreneurship is the process of discovering business idea, evaluating its market potential and organizing both human and material resources to make it profitable. Stephen Afolabi

Now, let me explain this my definition.

As a potential entrepreneur, your duty is to discover business ideas, evaluate them through your market research to find out how profitable those ideas are, who and who are your competitors and how can you position yourself to get a good percentage of the market share?

Your next duty is to organize the resources needed to achieve your entrepreneurial objective, which I guess is to make money and make the world a better place.

There are two kinds of resources, human and material. You as forerunner will be responsible for putting together these resources and channel them appropriately in order to achieve your purposes.

The above definition is mine. Now I wish to share with you some of the opinions of other experts as per what entrepreneurship is all about.

“There`s lots of bad reasons to start a company. But there`s only one good reason, and I think you know what it is: it`s to change the world”. Phil Libin, CEO of Evernote.

What is Phil Libin saying here?

The primary purpose of your business is to make the world a better place. Yes, you need to make money, but that`s just a bad reason if it`s the primary reason.

I have explained this concept earlier on this website. You have to give before you get. You as an entrepreneur must see yourself as a man who wants to sell eggs for money. This man first need to buy chicks, feed them and shelter them, then these chicken start giving him eggs.

Look at the great businesses in the world.

What do you see them doing?

They are making the world a better place. Your phone is helping you to connect with your friends and family, your laptop is helping you to surf the net, the water you buy rescues you from thirst.

Virtually any and every successful business has made this world a better place.

Action: ask yourself, how can I make the world a better place? What service can I render, what product can I produce to make life easier for people in my town, city or country?

If for instance there is a service you can render better than competitors or a product you can produce better than the present competitors, then, you`re about to make money.

Is there a product you can produce cheaper or a service you can render faster? Then, you`ll make the world a better place and people will joyfully pay you for your services or product.

Ok, let`s see what another expert has to say about entrepreneurship.

“If you`re not a risk taker, you should get the hell out of business” Ray Kroc, founder of McDonald

I remember how my only brother called me to warn me, “If you eventually become poor, don`t run to me!”

To him, it is too risky to say you don`t need a job. I left school and decided never to collect my “good certificate” from school. I decided to be an entrepreneur or die.

To me, nothing else mattered than to be a business owner. To my brother (who is older than me by about 11 years), I was crazy.

You hate risk? Go get a job. Don`t try to be an entrepreneur.

From your very first day, till when you`ll become a millionaire, till when you will die, you will never have a period when you`re certain about the outcome in the business world.

Two months ago I was busy making plans about my new found marketing strategy. I worked like hell to put everything together and launched out, hoping to make it big.

I was wrong. I failed. I have to get back in to see how I can come up with a better strategy to make my business a success.

That`s how I have being living my life since the last 8/9 years.

I am not saying this to discourage you. In fact, the reason why I am here is to encourage you as your fellow African.

Listen to what Albert Einstein has to say, “A person who never made a mistake never tried anything new”.

Mistakes are not the evidence of your foolishness. They are the evidence of your courage.

As you`re planning to be a business owner, be assured that the evidence that you`re growing is that you`re making mistakes.

I know below words will encourage you.

“I`m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.” Steve Jobs, co-founder and CEO of Apple.

Now you see, your ability to try again after a mistake is what will make you to succeed.

One of the major reasons why we have very few successful business owners in Africa is because our culture doesn`t encourage daring and risk taking.

Whenever people see someone who is daring, trying and failing in an attempt to build a company in Africa, they stigmatize him. They advise him to ‘’stop wasting his time and go get work’’.

It happened to me, so I understand.

I have this to tell you. Be courageous. Be strong. Be willing to fight hard. At the end of the day, the same family members and friends who talk ill of you will be the ones to envy you for your business success.

Let`s listen to what someone else has to say about business and entrepreneurship.

‘It does not matter how slowly you go as long as you do not stop” Confucius.

Sometimes you are in a hurry. You want to make money fast. Usually you find yourself progressing too slow for your likeness. It happens to all of us. But you see, snail do travel miles.

Because some people don`t want to start small or grow slowly, they never start. They keep on complaining. They remain at the same spot.

The rat is waiting for someone to come and carry him to the mountain while the snail keeps moving, though slowly. When the snail will get to the top, the rat will still keep on complaining.

If truly you want to be an entrepreneur, you may have to start small and grow up. No matter how slow your speed is, as long as you keep moving, you`ll get to the top.

I love the next statement I am about to share with you.

“For all the most important things, the timing always sucks. Waiting for a good time to quit your job (and start a business)? The starts will never align and the traffic lights of life will never all be green at the same time” Timothy Ferriss, author of the 4-hours work week.

I love the above quote because it has been my watch word since I was a boy, “don`t wait for tomorrow!” if you have being reading from us before now, you might have heard me saying that I have never started anything perfectly.

In fact, I usually get out when there is no certainty.

The first time I started a business was when I was 15.

I had nobody to tell me anything. I just followed my intuition. When I left school and went into the business world, it was very stupid to do so because I had nearly no money to start with.

Perfect time may never come for you to get started.

How to be an entrepreneur?

Start now, even if conditions are not perfect.

You will learn, grow and become an established business owner.

“Timing, perseverance, and ten years of trying will eventually make you look like an overnight success”. Biz Stone. Co-founder of Twitter.

When people consider making money, they think about starting a business. When people think of starting a business, they think of making money very fast.

Unfortunately it`s not working that way. Most of the rich people we consider “overnight success” today only became successful after years of trying and errors.

When I left school and was going into the business world, I was so much determined that I told myself, “even if I will have to spend 10 years in the wilderness of the business world, I will be nothing but an entrepreneur!”

Do I sound like scaring you?

I must not.

I am only preparing your mind for the journey you`re about to embark on. I love you to succeed and I know you will not if I tell you half-truth.

“In the modern world of business, it is useless to be a creative, original thinker unless you can also sell what you create.” David Ogilvy, co-founder of Ogilvy &Mather

After you get your business started, your most important task will be to sell. No matter how great your product or services are, if you`re not a seller, you`re not going anywhere.

To be a good seller, you have to first of all have some great marketing strategies (read that link) in place for your business.

You also have to master the art of good business relationships

When you look at some of the thoughts shared above, you might be thinking that it is too hard to be a successful entrepreneur. Yes, you`re right. It`s very though, but not “too hard”, as you might think.

The biggest problem we have in Africa is because we were never enlightened earlier in our life that we can become entrepreneurs.

Most of us were brainwashed to love job, and we never taught of becoming business owners until many of us have searched tirelessly for job and there is nor.

That`s why I hate that institution call school.

I hate school because its deceives us to love job. We should have loved business and started in the entrepreneurial journey earlier in our life, but we were never trained to be.

It`s not too late to start.

The earlier the better.

Let me also share this powerful quote with you…

“The critical ingredient is getting off your butt and doing something. It`s as simple as that. A lot of people have ideas, but there are few who decide to do something about them now. Not tomorrow. Not next week. But today. The true entrepreneur is a doer, not dreamer”… Nolan Bushnell

Entrepreneurs are doers. Dream doesn`t lead to success, action does. I mean act now.

And I want to share the thought of this great business genius with you…

“Watch, listen, and learn. You can`t know it all. Anyone who thinks they do is destined for mediocrity.”… Donald Trump

If truly you desire to be a successful business owner, you then must be a student of business.

Believe me, you cannot get anywhere as a business owner if you`re not a reader and a learner. If there be any weapon to use in the war of business, that weapon is knowledge.

If I show you my digital library now you will see about 265 books there. Most of these books are business books on the various business topics.

Please, be a business reader.

This website is designed to teach Africans how to be successful business owners. We started this journey in September 2007. Look around and learn from our many life-changing business tutorials.

You may also check our wonderful business trainings and books.

I love you.

What is The Difference Between an Internet Business and The Physical World Business?

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QUESTION
Image courtesy of iamharin at FreeDigitalPhotos.net

You have probably heard about “business” in the real world since when your mother was selling sweet and ground nut (just like my mother).
You grew up to know that whenever anyone talked about “business” the person is talking about buying and selling of certain things.
However when you got to know about the internet, you started hearing the term, “internet business” or “making money online”.

What is this?

How does this work?

How do people make money online?

Or, do people truly make money online?

The answer to the last question is, yes, people (including my humble self) make money online. But I will write a tutorial on that later.

The question I want to answer today is, what is the difference between the internet business and a usual business in the physical world?

My answer to that question is, NOTHING. Really, nothing much.

I know this my answer is over simplified, so let me explain.

You see, there are so much noise out there about making money online and the whole concept is usually presented like magic. “Hey, give me #10,000 and I will teach you how you can be making #250,000 every month with little work” is the common noise out there.

This sounds magical, doesn`t it?

Now forget everything you have been told before now and let me tell you the truth.

Business, either in the physical world, on the internet or inside the water is never different.
The basic foundation and principles are constant while the only variable is the medium.

Give me a second and I will explain.

foundation
Foundation of a building
Image courtesy of Worakit Sirijinda at FreeDigitalPhotos.net

The foundation of every business is people.

Wherever there are people, there must be business.
Wherever people live, go or visit, there have to be businesses, and of course, the more the people, the higher the business opportunities.

That is why there are more successful businesses in cities than town, and in towns than in villages.

Since you have understood this, I can proceed.

Some years ago (when you and I were just little boys) there was no internet, so there could never be anything call internet business.

When internet started, nobody knew (or only few people knew) that there will ever be businesses on the web. But the law of nature remains rigid … wherever people go business must be there.

If tomorrow plenty people start to be visiting moon or living inside water, soon you will start hearing another terms … moon business, water business or something similar.

Now that we have explained the foundation of every business (wherever people live, go or visit, there must be businesses), now let`s talk about the unchanging business principles.

If you like go and start a business inside the sun or inside Pluto, there are constant business principles you must understand.

Yes, most people are not presenting it so, but it doesn`t change the truth, does it?

Below are the basic business principles…

You must sell something

It is easier to live without water than to make money (anywhere) without selling.
If anyone ever present any “make money online” idea with you and it doesn`t involve selling anything,you better laugh.
We make money in the physical world by selling goods and services. The same principle is applicable online. We sell goods or services to make money online.

Now, here is where the difference lie … what is easier to sell.

Just because medium is differs, what is easier to sell sometimes are different.

While in the physical world, we sell more of physical goods and services, on the internet, we sell more of electronic and digital goods and services.

Still you have to note the word more.

Take for instance, most giant companies on the internet are selling advert to make money. Facebook, Yahoo! And google are examples you can easily identify with.

But does that mean that advert selling is peculiar to the internet?

No.

Ever before you and I were born, there have been companies in the physical world who are selling advert space.

In fact, some earlier advert is dated to 4000 BC then in India.

Also take note that, though selling physical goods is common in the physical business world, many companies, small and large are selling physical goods on the internet. Konga, Jumia, Amazon are few examples you can quickly remember.

My point here is, for there to be a business, there must be a selling.

The selling have to be of values … real values

value
Image courtesy of Stuart Miles at FreeDigitalPhotos.net

The idea of “make money quickly” online is very common that most people making this noise usually don`t tell people that you have to sell something of real value to make real money … anywhere.

I have told you that you must sell. Now I am telling you, you must sell something that will help someone in one way or another.

It is common to hear, “if you can just package this (especially information products) and prince it #xyz, you will make #kkk each month”.

That`s a lie.

Yes, just like in the physical world, you can put together a crab, a junk, a fake product and start selling, but how far can you go with that?

How much can you make with scam?

I think I understand what I am saying.

I have built a community of people on the internet. Again and again I have seen and heard people told me, “thank you” after buying what I sold to them (on the internet).

You need to understand what that means.

It means you`re giving values. It means people will come back again and again to buy what you`re selling.

Nobody makes money from the first sales

This is another business principle you must understand.

If you understand this, you`ll never attempt selling crab or scamming people with substandard products or services.

Nobody makes money from the first sales.

Coca-Cola has been selling coke from 1985. The reason why that company is rich is because they sell again, again and million times again.

That is just as real in the physical world as it is on the internet.

I love facebook and can you guess the reason why I love facebook?

No. not what you think.

I love facebook because I run wonderful adverts through facebook.
When I run advert on facebook, I see result, very good return on my investment.

That`s why I go again and again to the facebook and “give” them my money. That`s why millions of people all over the world are begging facebook with their money every day.

If facebook was mediocre, it would have taken me one poor experience (or two if I was a fool), to say “I can never advertise on facebook again”.

Millions others would have concluded this way and, you get it, facebook will become poor.

Nobody makes money by selling one time and if your products/services are average (or worse poor), people will only buy from you once or twice.

No exception to this rule either in the physical world, on the internet or inside the Jupiter (if business gets there next Sunday)

No quick riches … no

quick money
Image courtesy of Stuart Miles at FreeDigitalPhotos.net

I really which there is a way to make money very fast.
I would have used such way and become a billionaire. I would have taught all my relatives, my friends, and you (don`t be angry I won`t teach you first. Lol)

I know we are all eager to be rich.

I understand this huge temptation better last December when I met a long time mentor of mine, Mr. Ibitoye

We were three where we were talking and he asked a question that went like this, “guys, what are the business opportunities out there that can make me money easily and quick?”

With surprise (because he was my mentor), I asked, easily?

But after that meeting, I understand better how tempting is the thought of quick money.

Unfortunately, there are no quick money, quick success or quick anything worthwhile.

While quick rich mentality is not common in the physical world businesses, that is the main bait online “gurus” use to catch their victims.

I am here to tell you, it`s a lie.

Starting a business is like giving birth to a baby. It takes time for your baby to become a man.

I really wish there is a solution to this “problem”, so I too may use it (because I too wish to become rich, quickly), but there is non.

Business requires knowledge and skills

When you think of business (whether online or off line), you just think about medical science or law profession.

There are so much to learn (don`t be afraid they are all interesting), but instead of people to see it this way, they usually see internet business as different.

There is a term I usually hear on the internet. It is “internet marketing”

I fell for this term and taught, “the marketing on the internet is different”.

I later discovered by experience that marketing is marketing, whether online or offline.

I have read some of the best marketing books about the physical world business and when I started reading the so call “internet marketing” books, I discovered that they`re nothing but the repetition of the books I have read.

To succeed in business (online or offline), you need business knowledge and skills and note, the skills you need are constant regardless of medium (internet or inside moon)

Nobody can teach you everything about business

Internet “gurus” are fond of saying, “hey, give me #5,000 and I will teach you everything you need to know about making money online”

The truth is, nobody can teach you everything you need to know about business, whether online or offline.

That is why here at the ABC, we usually encourage people to read financial and business books.

My fellow African friends, there are certain things I simply cannot teach you about business world, and if anyone out there, even the richest man in the world, should promise to teach you everything about business, he is a liar.

Conclusion.

What is the difference between the internet business and business in the physical world?

The medium. Nothing much after that.

My advice for you is this.

If you ever wish to be a successful business owner, get prepared and be willing to learn, try and fight.

I love to use that word (fight) wherever I am teaching business because that is what it is.

I believe you can be a successful business owner whether on the internet or in the physical world.

Just understand that business is business.

Maybe I should stop here till when next I will share another life changing business tutorial with you.

Thanks.

13 Smart Marketing Strategies for Africa Entrepreneurs

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Strategist
Image courtesy of zole4 at FreeDigitalPhotos.net

In this tutorial, I will be sharing with you some brilliant marketing strategies that can make your business more profitable.

As you probably know, a single marketing strategy can transport a business from zero to hero.

Claude Hopkins, the marketing genius and author of The Scientific Advertising explains in his book (the same book I just mentioned) how he visited a beer making company and looked at their meticulous process of making their beer.

As their consultant he asked, why didn`t you run an advert to tell people all these great processes you`re following to make your beers?

Those guys told him, well every beer maker make it this way.

Smart Hopkins said, well, nobody has told the public about this, so let us tell them. That is what they did to be the market leader.

Marketing strategy: what is it?

I think you don`t need me to tell you the meaning of marketing strategy, but for us to be sure we are on the same track, let me remind you that marketing strategy is that tactic developed and applied by a business owner with the aim of winning more market share and making more money.

Business strategies can differ from one business owner to another, depending on various situations.

The business approach of a man just starting a business may be different from that woman trying to grow a business.

The business tactics of a business who is leading in the market is definitely going to be different from that of the nicher… a business trying to take a specialist approach to win a share of the market.

In all, let`s get to work and identify some meaningful marketing strategies you can apply to win your market.

1. Be the first in your market.

being firsst in the market
Image courtesy of arztsamui at FreeDigitalPhotos.net

By far the most profitable marketing strategy is the marketing to the plain mind. Give me a second as I want you to see business marketing as you see the relationship between a man (the business man) and a lady (the market).

How easy it is to get a 27 years old lady to fall in love with you? it all depends.

If she has a serious relationship and other three men running after her, you`re in for a long walk (as Nelson Mandela titled his book).

But what if she has nobody she`s dating now? You know what that means.

You can get yes, even now.

That is how business world looks like. An innovatively new products or services get people`s attention so earn yes to their cash, easily.

But can there be a completely new product again? Yes, but waiting for it and working for it is beyond what most people are qualify for.

Just as I explained in our tutorial about how to discover business ideas, it`s a laborious work that may take years.

But here is a good news.

Human beings are so weak that we don`t usually recognize that there may be the same engine in an unpainted Toyota can and a red coloured Toyota car.

You got it! There is a colour call blue and another one call yellow, but, yellow plus green is what we know as a new colour. Being the first business to introduce an innovative product or service to the market is the greatest and the most powerful of all the marketing strategies.

2. Be the first in a new market.

number one
Image courtesy of stockimages at FreeDigitalPhotos.net

Etiselat is a Nigerian telecom company who came late to the market. Since the first market position (as explained above) has already been taking, they try to become a king in a new market. They target phone users who of course are browsing with their phone.

If you look at your business very well, there are different categories and lines. If you cannot be the king for the whole market, don`t fight for the whole market. Identify a category where you can be the king.

This is an example.

You want to start a private school in your city or town, but there are already 52 private school and seven of them are highly known.

What can you do?

Start a girl-only private school or a Christian only private school.

Because people are usually afraid of what their female children may become, they will love to take their children to your school (thinking, there must be a special care for them there) and because religion is such a sensitive issue in Africa, many parents will love to send their children to a school where they will be trained in the way of God.

You got that! Let`s move on.

3. Be a specialist.

Don`t be a jack of all trade. Nobody will respect you. Think about this situation. You visit a friend and from there you`re having malaria and he tells you, guy, I know of two hospitals in this environment.

One is very good and treat just any disease, the other one is treating only malaria, which one will you love to go?

It is smarter to be known for one thing that to be known for all thing.

You see this all around you every day. Do you know a fuji musician who is also an hip hop musician?

He cannot succeed.

Specialization is a powerful business tactic, because it makes people to see you as an expert.

4. Identify your position in the market.

Every business market is eventually going to be divided into four. There will be a leader, a challenger, a follower and a nicher.

Let me use Nigeria telecom industry to explain this.

MTN is the market leader. Glo is a challenger. Etiselat is the nicher while that ‘’guy’’, Airtel is (unfortunately) the follower.

A leader is the king. He can sometimes has 40-60% of the market share. The challenger is a threat, looking for a possible chance just to kill the leader. He can be compared to the strongest opposition party in the political system.

The nicher is that business whose owner admits the fact that he is too late to the market, but he is fighting for a part of the market, as explained in the number two above.

If you know your position in a market, you`re more likely able to know how to dominate your market.

5. Tailor your tactics according to your market position.

If you`re a leader, don`t tell your market you`re a specialist and if you`re a challenger, then, I am better is your message.

6. Fight with your name.

Your business name is far important than you think. We have a tutorial about naming your business. (click to read).

Do we fight with our names in the business world?

Not in business alone… everywhere in the world.

I know a very close lady friend who introduces herself as Lizy. When I heard her mum call her Elizabeth, I understand.

Al Ries and Laura Ries write in their book, The 22 Immutable Laws of Branding that, the brand with a better name will come out on top. Your name is part of your marketing strategies.

7. Appeal to a group of people.

Seth Godin says, create a tribe. People love to belong, it`s our natural weakness. That`s why you see people identifying themselves with football clubs and social movements.

Most people go to church simply because it gives them a sense of belonging.

How can you ride on this human need of belonging? Structure your marketing message in such a way that shows that you are creating a tribe.

Our name (in this organization) was, The Optimist.

It is not too smart to go with that name, because we want to create a tribe (so to say it like Seth Godin).

Think about our name now, Africa Business Classroom. How does it sound? We choose that name so as to appeal to a group of people, Africans.

Why is this very important? Because people love what is their own.

Let me tell you the truth. There are so many websites out there who can teach you what we`re teaching you in the ABC, but you`ll still find a need to come back here.

Why? Somehow you`ll feel, these guys at the ABC are Africans, talking about business in Africa.

You get it.

In your business and marketing messages, you may target the youth, the men, the women, the aged or a particular nationality or continent.

Those in that group will fall in love with you because they will see you as their lovers.

Believe me, we are enjoying this in the Africans, thank you for loving us this much!

8. Create a Unique Selling Promise.

Unique man
Image courtesy of cooldesign at FreeDigitalPhotos.net

I came across the concept of the USP (Unique Selling Promise) in around 2007/8 when I was reading a book from Brian Sher, and since then, I have been applying this marketing technique.

Look at your competitors very well and come up with their three major weaknesses that the consumers are complaining about.

Can you fill this gap? If yes, can you create a simple message that will tell your target market that you have filled that gap?

Because MTN came to Nigeria when there was no network in most towns and city, they smartly coined the Unique Selling Promise, everywhere you go! telling you, we`re there everywhere to give you network.

Because sky bank felt that many banks say no to people, I guess loan seekers, they coined the term, saying yes to your dream.

Because we found out that most people who are talking about money online are (first) talking about making money online, (second) deceiving people that they are millionaires (third), telling people that they can make millions of naira without work, we coined a marketing message on facebook that looks like, We don`t teach making money online, we don`t teach get-rich-quick and we are not millionaire. This advert is a huge success.

We couldn`t come up with a better marketing tactic. Be unique and tell your market how you are unique.

There is not a better marketing strategy than this… as much as I know.

When you are different, people will fall in love with you and your products/service

9. Perception wins, even when quality products fail.

Market perception
Image courtesy of Stuart Miles at FreeDigitalPhotos.net

There was a market research to find out how people react to the taste of Coca-Cola and that of their enemy competitor, Pepsi. The outcome of that research teaches us marketer a great lesson… most people prefer the taste of Pepsi to that of coke.

So why does Mr. Coke remain the king in that market? Human beings usually (or always) judge the book by its cover. Many quality products and services are dead and forgotten. Let people perceive you as the best.

10. Quality, yes, quality wins.

This is counter-intuitive, I know. But not really. You see, we are already in a world of super stars. Just as I was explaining to two friends of mine yesterday, it seem extra-ordinary needs another extra to make it a winner in the present day world.

You see, in the last 100 years, an average product, service, musician or footballer easily could get to the top, because there was few people in the world (less than 2 billions), there was little noise and there was so little competition.

For instance if you were making soap in the last 100 years, average quality soap I mean, you`re likely to become very rich because only few people (very few people) are soap makers in the whole of Africa.

Today, the soap makers in Lagos alone may be more than ten thousand. So if you don`t have any quality thing to offer, please, go get job.

Don`t waste your time in the business world. However, always, I said always let your customers perceive your products or services as the quality.

That is where the last point work with this one and make these two marketing strategies work together.

11. Give out free samples or services.

Do you have a great product that you want people to buy? They are skeptical about that product. You need to give them a taste of it.

Remember the last time you visit a suya seller. He understood that you may be doubting the quality of his meet, so he offered you a taste of it.

Car manufacturing companies, whenever they release a new car will offer people the free ride.

This is a marketing sstrategy

This takes away people`s fear and attracts them to the new car.

Do you want people to love your product? Can you produce some samples?

If you`re rendering service, this is a lot easier (and cheaper), can you offer people some free service?

If you have an hospital, can you offer a free medical checkup?

If you are having hotel, can you offer free breakfast? You will be surprised that even people who are rich enough to pay any amount for a breakfast may come to your hotel because of the free breakfast.

Funny? Psychologist Dan Ariely has told us (in his book, predictable irrational) that human beings, all of us, are irrational.

lol.

Claude Hopkins said, sample always pay for itself and even more.

When people taste your product or service, they say, wow, and then buy (that is why it must be a wow product anyway, if you want this business tactic to work).

When someone gets a free medical test and discovers he is about to have typhoid, will he go home and sleep all night? You get it.

12. Spread a contagious virus.

marketing virus
Image courtesy of vectorolie at FreeDigitalPhotos.net

The truth is, advertising is dying and may soon die. Why? Noisy. Noisy. Crowded.

Because advertising is now everywhere, and hundreds of them for that matter, nobody is paying attention to adverts again (except a few brilliant ones of course).

When last did you react to a television advert?

When last did you buy something because you read its advert on newspaper?

Did you ever take your phone and call a line from a radio advert? Maybe no.

So do you think your own advert will be diligently listened to?

Think again.

But there is a way out… spread a contagious virus.

This is what I mean. Create something that is great enough to catch someone`s attention. After such people fell in love with you, they are more likely to tell their friends about it.

Can you remember few instances when you talked to a friend about a great fast food restaurant, a nice hotel or a great book? Now you can see.

We love to talk about a good product or service to our friends. In fact, we are usually proud of them and talk about them on social media sites.

With this, we`re advertising for the company involve (and we do so willingly).

For instance wherever I read a great book, I tell my friends about it, even force some of them to buy it. I know I am ‘’helping’’ the author, but that is not the way I see it. Instead, I see it as helping my friends.

Create something worthwhile (a product and service) and people will want their friends to also know about it.

We are so much grateful to Africans who are telling their friends about us. This tells me that it pays to give value.

If you`re new here, we will love you to stroll around this website and read as much as you can. If you think some of your friends will be benefited by what we`re doing here, please tell them to visit us (www.AfricaBusinessClassroom.com).

Get our free book, 10 Secrets University Can Not Teach You About Business & How to Make Money here and tell your friends to get it too.

Thanks. Let`s continue.

13. Be consistent with your message.

Don`t be surprise that MTN is still using everywhere you go as their marketing message after around nine years of creating it. Whatever you stand for, be consistent.

14. Be flexible.

Don`t be surprised by this. Though consistency is good for you, your competitors sometimes will come up with a hard blow. To cope with this, you too may have to change your marketing strategies.

Thanks for reading.

How to Make 2015 Your Best Year Ever

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2015
Image courtesy of Stuart Miles at FreeDigitalPhotos.net

W e sent a mail out to the Africans who are in our Business Classroom yesterday, in it I shared with them how to make 2015 their best year.

Below is part of what I shared with them (if you have not joined other Africans from over 13 countries who are in our Business Classroom, click here)

It`s a new year, congratulations to you my fellow Africans.

A friend wanted to get me out to “waste” some time (though not really a waste) this afternoon, but i said NO.

The reason for that is because, the war has started already.

Which war?

The war of 2015.

We all have to be busy now on how to make this year our best year ever.

How can we do that?

First, set 10 major goals. Figure out what and what you will love to achieve this year.

I love goals because it pushes me to be on the run.

Second, find out what and what are the prices to be paid.

The truth is, our lives is just like a market place.

You cannot get something out of the market, except you pay for it.

Do you think you will achieve some great things in this year without some stress?

Wake up from your dream.

For every prize, there must be price

Figure out the price you have to pay for the prize you desire and be willing to pay it… no matter what.

Most Africans don`t understand this area, but I want you to understand.

Be willing to fight for whatever you want.

Third and very important, seek to improve yourself.

Africans.

Africans.

My fellow Africans, how many times have I called you?

we can NOT achieve any meaningful thing in life without meaningful knowledge.

If you have set some goals this year and you did not include the amount of books you will read, you`re in for mess.

Not even Dangote can do that and expect to be richer.

I really wish you best of luck as you`re starting this year.

We have a load of stuff here for you at the ABC.

Stay connected as we will love to journey with you

We love you!

4 Reasons Why I Hate Certificate

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Certificate
Image courtesy of cooldesign at FreeDigitalPhotos.net

You probably know my story, so don`t let me bore you with my long story.

I (Stephen Afolabi) was one of the best students in the polytechnic where I studied Accounting.

I was the only students in my class of over 720 who ever got to distinction (first class).

This is where I am going.

I didn`t collect my certificate from school till this morning.

That`s crazy, right?

Let me now tell you the reasons why I hate certificate and why you need to hate it too.

  1. I hate certificate because it deceives people to think that they are educated

You know what I am talking about here.

Just as I wrote in 7 reasons why I hate school, whenever people have B.sc, HND, PhD or whatever certificate, they believe that they are educated.

Are they educated?

Lie.

What does certificate has to do with education? Nothing. Education is an internal strength that reveals itself outside … with what you do with it.

Let me show you how it works.

A boy who is learning how to speak English (in school or anywhere) is educating himself. How can we know he is educated?

If he can speak English.

We will be foolish if we call him educated simply because his tutor or teacher gives him a decorated paper with excellence written on it.

Unfortunately that is what we are doing today. We call people educated just because they have certain decorated paper called certificate.

I know a computer science graduate who (as much as I know) cannot operate on a computer perfectly. I am not even sure he can operate Microsoft Word.

I once lived with a 300 level university electrical student who could not fix an electric bulb. He is now a graduate.

Is that man educated?

Why do I blame certificate for all these mess?

Because young people (like me) would not have become dummy if there was no certificate. Think about a world where nobody cares about your certificate, but your competency.

What did you see?

I can see a world where people will go to school and seriously learn to know … not just finding means to get certificates.

  1. I hate certificate because it makes our corporate world less productive

When I was part of the management team of an organization I told my superior, “see I don`t care about any certificate people bring here“.

You may think that is because I don`t have certificate and you are wrong. If you think about it deeply, certificate is useless.

Whenever people submitted their CV for me (then) I would simply squeeze it and keep it somewhere. I never read them as they expected. Instead, I would think, let me see what you have up steer.

Today in our cooperate world, we have people who are by no way qualify to hold the present offices they are holding but because they have stolen certain certificates, they are there.

This is affecting our labour productivity. This is affecting our economy. This is affecting our continent.

How I wish there comes a time when there will be no certificate again, when everybody will compete with his capability, when our brains will be our certificate?

You said, how can that be possible? Yes, it is possible.

We only think it is not possible because it has never been done before. Does this mean that people would not be going to school any longer?

No.

It simply means that their minds would be their certificate, instead of certain decorated paper.

It simply means that they will value education, and not certificate or school.

Whether we like it or not, this will eventually happen in it full length. Smart entrepreneurs all over the world have already started to focus on what an employee can do, not the certificate he brought out of school.

Prepare yourself for this change.

  1. I hate certificate because it punishes us
Purnishment
Image courtesy of David Castillo Dominici at FreeDigitalPhotos.net

I remember being in my brother`s house (a man older than me by around 12 years). He would stay awake at night (usually when he had exams) because he was writing a professional exam.

He would force himself to cram those accounting formulas and facts. I pitied him.

Why?

Because certificate was punishing him. Someone will like to tell me that he is educating himself so as to become a better employee.

I disagree.

He was simply working hard to get promotion and he knew he couldn`t get it without more certificates.

He was not learning.

Just as I made it clear in the reasons why I hate school, learning has to be enjoyable. When learning becomes hustling, it`s no more learning. It is punishment. Because it`s punishment it cannot bring out any meaningful fruit.

I can read a book I love all night. If it is because you enjoy it, you are not doing anything bad.

But if it`s because of promotion at work, I see it as punishment. Does that mean you will become a better employee for your employer?

Think about what I have to say bellow.

  1. I hate certificate because certificate renders our school completely useless.

I am writing this tutorial in a higher institution environment. I have been to many schools; universities, polytechnics and colleges of education.

I am always crying in my heart whenever I see these young adults in school. I see these young adults as they are in school to get first class or second class … not education.

I see them in their ignorance and my heart bleeds.

One of the main reasons why I hate school is because it doesn`t give us anything worthwhile. Apart from the fact that what school is teaching (how to be an employee) is an old wine in a new cup, 90% of people who are in school really don`t understand what is ahead of them (after school).

All they want is certificate … good certificate.

What do you think our educational system will look like if every student knows that employers won`t ask for his/her certificate?

How will our campuses look like if our young adults know that their minds, brains and ability to provide solutions to problems is what matter in the real world?

You know what will happen.

Examination malpractices will disappear. Every of our students in school will study hard to have good stuff up steer.

I know this will not totally solve our problem of unemployment (because only business skills can rescue Africans totally) but believe me, it is easier to train a civil engineer graduate who actually passed through all he should pass through in school, to be entrepreneur, than a “graduate“ with a mere certificate and empty head.

Now what do I require from you?

Be educated.

You have a certificate? Keep it well.

You want to go for more certificate? Do. But be educated.

Certificate is nothing but a mere decorated paper. In the business world, you don`t need certificate to be successful,. All you need is your mind, your brain and your ability to provide solutions, so give values.

Do you want to be educated? Go and read good books.

As an entrepreneur, visit a nearby book shop. Buy some good financial books. Read, read and read many good financial books.

You will be smarter and wiser. You will learn how to discover business opportunities and how to turn them to wealth.

As I am writing this tutorial, I received an alert that someone paid for one of our books.

No. I am not just happy because someone paid us. I am happy because I know someone is about to discover what majority of Africans don`t know.

Book is great.

You know what I mean if you ever read a good book.

You can check our business books and trainings here.

Thanks.

Why Do I Call Business a War?

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soldier
Image courtesy of maniaroom, at FreeDigitalPhotos.net

When you read through this website, you`re likely to read places where I claim that business is a battle and a war.

You`ll even read where I use words such as, kill, fight or attack.

Why do I claim that business is a war?

Because it is.

A battle field is a place where there are two or more opposing teams, aiming to overcome each other.

That is what business is.

In war, you have to kill your enemies if you want to be victorious.

Well, as Seth Godin said, we are in the world of winner take all.

Two companies who are competing against themselves know that, both of them cannot win. One will be the market leader, while the other will suffer the harm.

That`s why business is a battle… battle for the market share.

In conclusion, the battle you are fighting as a business owner is not the battle of hatred.

It`s a battle of love.

Love your competitors. Be their friends. Kiss them… but play your game with them in the field.

About Us

Started since September 2007, Africa Business Classroom is a registered organization in Nigeria under the Federal government of Nigeria’s Companies and Allied Acts. Our mission to train one million Africans to be successful entrepreneurs.

(*Africa Business Classroom is registered as Business Classroom Vision)

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Contact Us

No. 9, Hakeem Ogbara Str., Oke Oriya. Ikorodu, Lagos.