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Tag Archives: female entrprenuers

3 Women That inspired me to venture into Entrepreneurship

By Tokunbo Fasoro Venturing into Entrepreneurship wasn’t an easy decision for me especially when I had spent time and resources gathering as much education and knowledge as I could in my area of expertise, knowing that I could earn a very good living working with those certificates. As much as I was afraid of the unknown, I knew I wanted more. I wanted to build a platform where I could do more; I didn’t want to be constrained by an employment contract. I had dreams I wanted to explore, amazing ideas I kept expanding in my head but even with all these, I was afraid. I said to myself many times that I needed to see God physically telling me “this is the way you should go” but you know, God uses people to speak to us. I will be sharing today about 3 women who inspired me to venture and lessons I learnt from them. Ayodeji Megbope: She is the C.E.O of No left over’s Nigeria Ltd- A full scale catering outfit which started with a takeoff capital of just One Thousand Naira (N1, 000.00), but today has an annual turnover that runs into millions of naira. The business ...

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Understanding The Mind Of An Entrepreneur

By Opeyemi Komolafe Listening to the news and people around me, what I hear is how jobs are being lost and businesses are being shut down because of the ‘recession’, I wonder why everyone is so frantic! About 10 years ago, there was a conversation that my mother had with me. My takeaway from that talk resounds in my mind almost everyday. Amongst the many things she said, I always remember her say ” Opeyemi” (she only calls my full name when she is dead serious or I am in deep trouble……..) “If your certificates were taken away from you, have you really thought about what you can do to generate income”? I was quite surprised at her question because I had graduated with a good result and companies had already started headhunting the group of us right from school. She went on to say “Multiple streams of income will always be an asset to you”. In the world of today, that phrase, ‘multiple streams of income’ has become a household slogan. Everyone is now under pressure to generate income from all sources by all means available. It is great if you have a salaried job, fantastic if you have ...

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How Much Money Do I Need To Start A Business?

I’ve seen the same mistake repeated over and over again by CEOs and business owners. The mistake blows me away each time I see it. What is that mistake? The CEO doesn’t have a plan for the business. And, if you’re going to succeed in business, you’ve gotta have a plan. The crazy thing is the plan doesn’t need to be complex. But there has to be a plan. And the primary goal of the plan is to: Determine how much money you need to start your business. You’re going to need to gather up everything to do with your company. Let’s break this into two parts: Revenue: Your revenue by month Your expected revenue by month Your current cost of goods (if you are selling a physical product) Your future cost of goods Your Expenses: Your salaries for each employee, including yourself The expected salaries you’re going to pay future employees Your rent Your insurance Subscriptions Office supplies Advertising expenses Travel expenses And anything where you are spending money to run your business You’ll be ahead of most people if you just do this simple exercise. Then, put everything into a spreadsheet so you can determine how much money ...

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Mistakes CEOs Make When Pitching To Investors

Tokunbo Fasoro

The last couple of weeks I sat through a bunch of pitches with a VC fund I am helping. It was amazing watching every one of the companies presenting make the same mistakes. Here they are: A. Get to the point. You’ve got seven seconds to make an impression. Seven seconds. That’s it. The CEOs I saw pitch all took several slides before they explained why their company was going to win. Worse yet, the explanations were not convincing. B. Too complex. You don’t need to explain how your product or company works down to the last detail. You do need to make it instantaneously obvious what your company does and why your company will change the world. Try this simple test. Give your presentation to wife or husband or significant other. Someone that doesn’t know your business. Ask them why your company is going to win. Better yet, just show them your first slide and then ask them why your company is going to win. You are in good shape if they get your value proposition. But, more likely then not, you’ve got work to do. Let’s say you can actually explain why you’re going to win, and you ...

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‘How Temi Siyanbade Found Her Passion’

Temi O. Siyanbade owns and runs her own private practice, The Law Office of Temi Siyanbade, a Houston-based law firm that provides legal services to help entrepreneurs and small business owners find direction, gain clarity, and increase profits. Tosin Legal Logo Temi loves what she does but must confess that her journey to this particular role has been extremely colorful to say the least. Temi was born in Providence, Rhode Island–the smallest state in the United States–to a young Nigerian couple. Her parents cherished their Nigerian roots and infused the rich culture into their home and everything they did. As a result, Temi, to this day considers herself the epitome of a “Nigerian-American.” As a child, she loved words and found that she was always interested in the precise use of words as a tool to create structure. She remembers drafting a contract regarding her chores and her weekly allowance when she was still in single digits. She was sure to get the contract signed by both of her parents giving her full access to her rightful allowance. Even though her parents eventually breached the contract, the desire to use words and law to structure relationships remained. Temi eventually went on to receive a B.A. in English from the University of Georgia and a J.D. ...

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10 Ways to Know If You Have a Great Business Idea (PART 2)

Business News Daily asked experts how you can tell if your business idea is poised for success. Here is Part 2 to 10 questions to ask yourself before pursuing your business idea click here to see Part 1   Are you passionate enough about it? Your business will likely take up all of your time, so make sure you’re passionate enough about it to make it successful. “Since starting a business requires an inordinate amount of time, energy and patience, ideally, the idea will be one that you are passionate about, as well as one that you have skills or experience [in],” said Melissa Bradley, executive-in-residence and director of entrepreneurship and innovation at the Kogod School of Business at American University. Are you open to advice? If you’re not open to changing or adapting your idea to fit what your customers will want, your business idea might not be worth pursuing. “Success happens when you are willing to listen and consider others’ advice,” said Angie Yasulitis, CEO and managing partner at YaZo Marketing and Business Development Strategies. “Most good ideas take some tweaking to get to market. Being closed-minded is a business killer.”   How will you market your business? Many entrepreneurs think about ...

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How Digital Marketing Will Benefit Your Business

Here’s how Digital Marketing will benefit your business, Digital marketing is a modern and cost-effective marketing tool. The main benefits of conducting your marketing digitally is the ease with which customer response rates and marketing campaign metrics can be tracked in real-time, giving you ample time to plan future campaigns more effectively.   Maximize Your Social Media Presence Social media is now being treated as just another digital channel, and rightfully so. It is great for brand awareness, increases brand loyalty from your customers, creates ample opportunities for customers to convert and therefore leads to higher conversion rates.         Optimise Your Website Your website is your most important digital asset. It’s the one you own and have the most control over. Your website should be a living, breathing hub that keeps people informed, educated and excited about you oryour business. It should be the place that people know they can come back to, so it is important to keep it updated and interactive.           Crowdsource Your Brand Content Your customers and fans could create many more stories, content, and conversations about your brand than you could ever hope to build or buy on ...

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BIE Entrepreneur of the week: Tunde Owolabi

We are proud to introduce TundeOwolabi as our first Entrepreneur of the week, enjoy. TundeOwolabi was born in Lagos, Nigeria.He is an artist, photographer and a designer. He studied painting under the tutelage of Professor Abayomi Barber, a renowned Nigerian artist at the University of Lagos, and later obtained a degree in Graphic Design from Yaba College of Technology. After his degree, Tunde became a freelance artist, a journey that led him to develop a keen interest in photography. He went on to study photography and photo retouching at the University of the Arts, London Tunde worked as a designer at the research studios, London under Neville Brody, English graphic designer, typographer and art director, working on accounts such as nickelodeon, Somerset House, Sofitel etc. On returning to Nigeria in 2009, he worked with Insight Communications, a most sought after advertising agency in Nigeria as an art director, working on brands such as Pepsi, Heineken, Mainstreet Bank, to mention a few. He started TundeOwolabi Studios in 2011, offering design and photographic services. Tunde left advertising in 2012, to start StudioMO, with a partner, while still running TundeOwolabi Studios. He has since become a full time studio artist photographer and designer. ...

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Make That Dream A Reality… Tokunbo Fasoro

Make That Dream A Reality One very cold morning, in the middle of harmattan when visibility was very poor, I decided to take a walk round my estate.It has been scary walking around for some time since a resident saw a large snake on the road and another saw two of them on his balcony.  However, that morning against all odds I got into my trainers and began to walk; then I got to a road. I could only see the beginning of the road because of the poor visibility and I was afraid to turn into it because it had only a few houses with the other houses still under construction. “Of course, that is a potential snake hide out…” I thought. I also thought of a very big snake somewhere in the middle of the road and I stood there for a while trying to make a decision as to what to do next. Then I decided to take courage and take the first step… then the next one, then I took a third, and I began to see more clearly, the road looked wider and I could move more easily and more confidently with each new step ...

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2018 Rolex Awards For Enterprise

Applications are open for the 2018 Rolex Awards for Enterprise with an aim to encourage a spirit of enterprise in individuals around the world by supporting outstanding endeavors in areas that advance human knowledge and well-being. Five Rolex Awards will be offered to Young Leaders, between the ages of 18 and 30 years old, who have a ground-breaking proposal or initiative that will help to expand knowledge of world and improve the quality of life on the planet. Categories Environment Applied Science and Technology Exploration Award Information The five winners will each receive 100,000 Swiss francs, double the amount of prize money previously offered to young Award winners. They will also benefit from worldwide publicity and receive a Rolex chronometer. Eligibility Criteria The 2018 Rolex Awards for Enterprise are open to candidates who are between the ages of 18 and 30 on June 30, 2017. The application must be completed in English. Candidates are allowed to fill in only one application. The candidate should be the person who plays a leading role in the project or the orginization. The 2018 Rolex Awards for Enterprise do not provide scholarships for academic studies. Candidates have a maximum of three weeks to complete ...

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