Quick Maths (1): How to generate income to start a business with FDSH Asset Management
Smart moves early in life can pay BIG long-term….. Now, what’s the point in looking good and slaying when your bank account isn’t smiling back at you? Listen. This is the year to SLAY 100%, and we’re ready to show you how to make money moves the right way. So, are you ready to cash out like Cardi’s got nothing on you? We are partnering with FSDH Asset Management Ltd to share with you a 4 part downloadable guide to enable you to boost your finances. We want to make sure that every Motherland Mogul is prepared to master the money world. [bctt tweet=”Learn how to generate funds to start your business with @FSDHCoralFunds. Click here for more: bit.ly/FsdhGuide1″ via=”no”] Topics this 4 part series will cover: Seed Money: How to generate income (capital) to start a business. Diversifying: Different ways to save and protect savings (for low and high-income earners). Bottom Line: How to use your business net income to your advantage Emergency Funds: Why you must have some investments. Now let’s talk about you. You’re about to start a business but you need capital to begin? Girl, we’ve got you! In this first downloadable guide, we’ve done some Quick Maths for you, highlighting how you can generate capital for your business or launch your new project. First, you need to understand that money does not come for free, as a MotherlandMogul, you have to know what your options are, and work towards them. After reading this first downloadable guide, you’ll understand what moves to make to get closer to your money goals. But what’s next after you get that capital and the bills start rolling in? We have more juice coming your way. To continue learning basic principles that will lead to a happier and healthier financial you, get prepared for our next guide. Because girl, we’re going deeper. FSDH ASSET MANAGEMENT LTD – FSDH AM is a wholly owned subsidiary of FSDH Merchant Bank Limited. They are one of Nigeria’s leading asset management and financial advisory firm. FSDH AM is versatile in financial transactions and investment strategies that meet the need of investors in an emerging economy like Nigeria. They recognize that today’s investors need the services of dedicated and expert professionals to provide them with intelligent investment counsel. Therefore, their strategies are dedicated to preserving investors’ wealth while maximizing the value that they receive. Once you’re through with this guide, visit FSDH Asset Management Ltd to know more and get all your pressing questions answered. Getting access to this guide is easy: just fill out the form below to join our community and get access to this guide, remember this is only part 1, there’s more to come – so stay updated. By joining our community, you also get to enjoy our AWESOME weekly content as well.
Desire Isiguzo: School fanned my flame for farming
We do not find a lot of young people who are eager to take up farming as a career but this is what Desire Isiguzo loves to do and she’s making a business out of it. She started growing oyster mushroom indoors which produced a good yield. After graduating from the University, she began to grow plants and study their growth behavior. Now, she has acquired plots of lands to move her business to another level. Desire helps to strengthen the local market by purchasing crops from the women traders. She then processes it into high-quality bean flour. She’s now is growing her agricultural brand- D’Yucca to be one of the prominent agricultural brands in Africa meeting both local and international standards. [bctt tweet=” Farming is what I think about daily. I can’t stay a day without learning something new about it – Desire Isiguzo” username=”SheLeadsAfrica”] How was growing up for you? Growing up was everything for me, I was happy and I got all that I wanted from my family. My mom was a farmer and a civil servant. Back then, I hated following her to the farm because I hated working in the blistering sun but I was made to follow them still. I was given seeds of corn to plant and I would dig up the soil. I was lazy about it, I felt it was stressful and it would make my hands dirty. When I saw my seeds sprout for the first time, I was excited to see that I had created something. When did you realize that Agriculture was something you wanted to do? In 2010, I started out planting plantain which I did to earn some money for myself in school. Later on, it began to turn into more than just an avenue for money. I realize that farming was something I thought about daily and I couldn’t stay a day without learning something about it. Why did you study Plant Science and Biotechnology? Did it influence your farming business? Initially, I wanted to study Agriculture, which did not work out. Non-traditional agriculture opened my eyes to different aspects of farming. During our industrial training, we were taken to large farms, where we saw the practicability of what we were taught. We were also able to practice what we saw even though we were not paid. Biotechnology teaches you how to stay in business in agriculture. I think school fanned my flame for farming. What is the role technology plays in innovation and planting? It solves a lot of problems. In storing cassava the conventional way, it can only last a day or two before it gets bad. But with Biotechnology, you can bury them in sawdust and sprinkle water on them and like they were never harvested, this keeps them preserved. This is a post-harvest management technique. Other methods include seed bank preservation, which is preserving seeds by freezing. We also do seed multiplication with mushroom. In hydroponics, you get to regulate the environment of your farm: temperature, pest, sunlight, and water thereby deciding what gets in and out of your plant. This gives you a better yield for business. Where did your distinct brand name – D’Yucca come from? In school, I was battling with a name for my brand. While I was thinking about it, I stumbled on a plant that is always green. I started reading about it and I found out that it is called Yucca. This plant can survive fire, drought, and flood. Its tenacious characteristics made me name my brand after it. After my internship, I started making bean flour. I got an excellent grade for my project and begin to think that maybe this was credible and doable. Did you experience challenges as a young Agropreneur? Yes, I did. After my first mushroom project yielded a result, I put in all of my money into the second project and I did not harvest a thing. I made a mistake in culturing the sawdust used for growing the mushroom and all the plants died. It was a painful loss but I learned not to skip on my precaution process again. Capital too is a constant challenge for me. Where did your business capital and funding come from? My mom! She believed in me and encouraged me. A lot of people tried to discourage me when I asked for funding. They said I won’t go through with it, that I was too young and I was a girl. Why do you choose to specialize in growing Mushroom indoors? Growing up we would gather mushroom from fallen trees in the farm. We would cover them in cocoyam leaves. My mom had a special way of roasting it and I loved it. Growing mushroom at home reminds me of old times and of course, gives me the chance to eat it whenever I want to. Mushroom is also very healthy and it can easily replace red meat in the diet of diabetic people. How did you find people to support you and join your team? Every member of our team has their strength and I leave them where they are the strongest. They are all part-time now. Everyone has been part of the process, sharing ideas and critiquing my ideas. I also have friends who are good in business whom I seek help and advice from. Where do you see D’Yucca in 5 years? Our logo typifies what D’Yucca is all about. The thirteen leaves signify the various aspects we want to branch into in future. In five years we would have used up three of these leaves: tomato production, processing, and edible oil production For young entrepreneurs venturing into Agriculture, what do you say to them? Start small. I already talked about my experience of losing my entire savings in a haste to do something big. Don’t pause because consistency is key. Keep getting your
Side hustle 2.0: Tips for starting a side hustle in South Africa
With the way the economy is (well in South Africa), it is getting tougher to make ends meet. So, much like my last article, some turn to a second income in the form of a side hustle or business, while others, run their side businesses out of passion and enjoyment and not necessarily for the income. For those who do not have businesses up and running yet, it may seem like a daunting task to get started but it honestly isn’t – it just needs one to put on their admin hat and take it one step at a time. In this article, I will discuss how to kick-start your business in the South African context. 1. Register your company In South Africa we use the CIPC, which reserves a company name for you as well register your company, doing both only costs you R175. To register on the CIPC all you need is the amount, your ID number and your company’s name. Once you create a customer account, you then move over to the TRANSACTION tab and click on “REGISTER A COMPANY”. From then on, it’s a walk in the park. 2. Get a logo Others may not design a logo right away and I suppose that it is dependent on what you do, for example, if I am looking for a contractor to remodel my bathroom, I don’t really care for his logo. On the other hand, businesses like clothing brand ’s will require a logo especially when it is needed for labels and packaging. I believe a simple design is always best for logos, it can stay with you for a long time, without having to rebrand. 3. Create Social Media Pages This is easy to do and often helps get your brand out there. Social media is also helpful when you don’t yet have a website, they act as your point of contact when you cannot engage with potential customers face to face. The key rules for social media as I’ve learned are: Create engaging content, make your followers tag a friend, comment, rate or vote on something. Keep things short and simple on twitter and this is a great platform to engage/chat with followers. Instagram is visual, use beautiful and great quality images (also on all your other social media accounts). Facebook allows for more text and longer pieces. ALWAYS direct all social media posts to your website (if you have one) eg: “for more info, follow the link to read more about the other products that we sell” 4. Advertise When you’re getting started, social media and your friends and family will be your advertising. If your budget for paid advertising is low, you could offer your products/service to influential people at a discounted rate. For example, if you want to start a branding company, find a company who you feel could really benefit from your services and offer your services at a lower rate. Another example, as a chef you could start selling your signature dishes at a food market or offer dinner dates for couples. A makeup artist could offer to do school play’s cast to showcase your work. There is a world of ideas and opportunities to advertise and sell your products and services! 5. Create templates for your quotes, invoices etc I cringe when people send their quotes as a text or in a poorly constructed Word document. Some businesses allow you to have a standard price list, so if your prices never change, invest in a well-designed page, that has your logo, all your contact details, social media pages, price list, payment details, lead times and everything people normally ask for. Never mind being neat, it saves you time from having to type out your price list every time. Never make your customers work for your details or to make their purchase/appointment, you have to make it as easy as possible! Chances are, they’re ready to make a purchase, don’t slow down the momentum by having them ask for payment options. The greatest part of invoicing (especially when your customer base grows exponentially) is that the invoice numbers help you keep track of who has paid and who hasn’t, while a quote will explain what they will be paying for and what is and is not included. 6. Keep track of your product or service offering. Returning customers are the best, if they aren’t happy – try to rectify it. The simplest way is a post-purchase survey, where they are not in front of you and have the freedom to critique you honestly. If it can be done anonymously, even better, but the option of leaving their names is useful, especially for those issues that you would like to address afterward. A few questions could be sent out to clients or you could use ratings, I believe Facebook offers this, which also works to your advantage if the ratings are good. Never delete poor ratings, they bring an element of “realness” to the page. Although kick-starting a side hustle may seem like a full-time job, it isn’t at all! If you plan and get used to the flow of things, it becomes clockwork, but if you ever feel overwhelmed or confused, have any ideas you’d like to discuss, questions, or would like advice, please click on my bio and reach out to me. If you’d like to get featured on our Facebook page, click here to share your story with us.
9 Business Lessons from My First Year of Business
Like many people, I was faced with the dilemma of deciding whether or not I needed to attend business school to start my business as I had no experience. However, I finally decided to be brave and start my business without any experience. In my one year since starting, I have learned the following lessons. 1. Never take things too personally. When operating with people, it’s often very easy to make arguments, criticism and other relations personal. However, if you want to succeed in the business world, you need to remember that at the end of the day, how you deal with your customers and partners is strictly business and not personal. 2. Separate your business life from your personal life. When you have a friendly relationship with your clients, it is very easy for the lines to get blurred. Sometimes, this can end up in sticky situations where one party does not fulfill their end of the deal. To avoid these situations, it is important to set the lines clear between your business and your personal life. You need to maintain a work-life balance. 3. Be clear about your job description. As a service based business, one of my ethos is going beyond and above for my clients. Sometimes, this results in taking up certain duties (aka unpaid labor) that are not part of my job description. This can get overwhelming. Therefore, it is important to be clear about ALL the services that your offer from the onset. If necessary, you should draw up contracts that reflect your services and your limits. 4. Review your prices regularly. You might be doing yourself a great disservice if in a bid to come across as affordable you under-price yourself. It is important to review your prices as often as possible. Especially when you’re in an industry like social media where your responsibilities are flexible and subject to change. 5. Be accountable. In the absence of a business partner or a co-founder, you need to learn how to hold yourself accountable. This can be as easy as setting small, medium and long-term goals and working toward them. These goals are important to give you a sense of direction and to keep you in check. 6. Toot your horn. One of the few things I still struggle with is putting myself out there as I’d like for my business to speak for itself. But the game has changed and the internet is over saturated. The only way for you to be noticed or to come across as a thought-leader or an expert in your field is if you put yourself out there. There are no two ways about it. Do you want to be the go-to person for a particular service? Put yourself out there and let people know. 7. Have confidence in yourself. When you are running a business, you’re gonna need all the confidence you can muster for the tough days ahead. You will face people who don’t believe in your dreams and your plans may even fail. It is important to keep believing in yourself even when others don’t. 8. Find time to improve your skills. Work/Life can be overwhelming sometimes and before you know it, three months have gone by without you learning anything new. In this ever-changing world, there’s a need to constantly improve your skills. Thankfully we have the internet at our disposal but finding the time can be a challenge. To fix this, make a schedule maybe during the public holidays and learn something that would directly improve your daily activities. 9. Customer service is key. Just because you’re not selling a product to a consumer doesn’t mean customer service is any less important. You’re selling services. Treat your clients with courtesy. Referrals are still king. If you’d like to share your story with She Leads Africa, let us know more about you and your story here.
Self-Care Tips For a New Entrepreneur –Don’t Let The Internet Rush You
Before now, the term ‘self-care’ used to be reserved for ‘me time’. A period to relax, rejuvenate and basically just pamper yourself usually as a reward for an excellent work or just after a hectic week in Lagos. But now, the definition of self-care has expanded to other dimensions to encompass not only the physical but every other aspect most especially your mental well-being. As a new entrepreneur, you would be doing yourself a great disservice if you are not actively looking after your mental health. No matter how seemingly glamorized entrepreneurship has become in recent times, it doesn’t change the fact that it is hard and tedious. Even though you would spend a lot of your time questioning your decision, it can be incredibly rewarding. But how do you get to that point? How do you ensure that you are in the best state of mind to produce excellent work? What are some of the things you can do sharpen your focus, increase your productivity levels whilst blocking out any distractions and preserving your mental health? [bctt tweet=”[bctt tweet=”Just because everyone is doing something or going a particular route doesn’t mean it is right for you” username=”SheLeadsAfrica”]” Don’t let the internet rush you Like every other quotable quote, you have probably seen this quote littered all over social media specifically on Instagram. It’s one of those quotes that has deeply resonated with me. With social media, it is even harder. Left, right and center, someone is raising some attractive funds and the next thing is a fancy office space with a view which for you, is still in a 2-3 year plan. Or someone is getting recognized on a distinguished list or is being flown on an all-expense paid trip to speak at an event. Calm down! Take it easy. Don’t raise your blood pressure for something that would still come eventually. Face your work! Don’t compare yourself See one of the worst things you can do to yourself as an emerging entrepreneur is making comparisons. It can literally crush you. No matter how much is in the media, you cannot adequately know a person’s journey. You have absolutely no idea what they have gone through to get to where they are. Don’t play yourself by comparing your journey to theirs. Don’t rush yourself Just because everyone is doing something or going a particular route doesn’t mean it is right for you. If it doesn’t align with your business goals, no matter how attractive it is, stays away from it. It is what exactly it is. It’s a distraction. Prioritize One of the key skills you need to learn as a new entrepreneur is time management. It is literally what spikes or kills your productivity levels. Effective time management can be as simple as creating and sticking to a daily to-do list. As an entrepreneur, it can be very overwhelming to do everything but listen, as much as you can do ANYTHING you put your mind to, let’s face it; you can’t do EVERYTHING. Pick one hustle and maybe one side hustle at a time and stick to it. Mind Your Business Last but not the least, in the age of information overload and over-sharing, guard your heart and mind your business. Celebrate the small victories and the silent achievements. Your time will come.
Positioning Your Brand Strategy for The Nigerian Market
Brand strategy is the process of positioning your brand in the mind of your target market. The goal of every brand should be to be top of mind in their customers’ heads – that is whenever a customer thinks of your product, your brand should be the first name that pops in their head. For instance, whenever you think of ordering a cab, the first name that comes to mind is usually Uber, or, if you want a cold, non-alcoholic drink, Coca-Cola comes straight to mind. The aim is to be the top of the market niche of your brand, the customer needs to specifically identify your brand as distinct from others in the market. Brand positioning occurs whether or not a company develops a brand strategy, for every market, there is a market leader and less recognized brands. Every company has to craft a brilliant and progressive approach to positively position its brand to grab the attention of its target audience constantly. Basics of Brand Positioning The basic four elements of brand positioning are: Target market: Who are your customers? What is the major demographic constitution of consumers that your brand appeals to? Market definition: What level is your brand competing for? How is your brand relevant to customers? Brand promise: What is the most convincing, logical or emotional benefit to your target market that your brand has over your competitors? Legitimacy: What is the most credible evidence you can present to confirm that your brand would deliver on its promise? Brand strategy styles There are four branding styles prevalent in Nigeria, choose the ideal strategy for your brand and implement. The big bosses battle This branding style is usually for brands that are in a prominent market category with the market leadership margins within fringes of each other. Examples of these are Coca-Cola versus Pepsi and Jumia versus Konga. These two categories of brands are very similar and are constantly competing to gain market share. It is honestly a battle for the big bosses due to the amount of money and time it takes to successfully attempt this strategy. Big Fish, Smaller Pond This idea is the basis of most specialist and personalized brands. It is based on the idea of creating a niche within an underserved market, which is basically identifying a sector of an existing market whose needs have not been met by market leaders and positioning your brand as the solution to this market gap. For instance, there are several platforms that cater to needs of career women and female professionals, however not a lot are youth-focused, which is where She Leads Africa comes in. Fundamentally, this style avoids going head-on with the market leader but focuses on a specific niche. Game changer This brand positioning reframes an existing market in new ways. It gives customers new and innovative benefits that make market leaders and your competitors so irrelevant that your brand becomes the new market leader. If the needs or expectations of your customers change, you differentiate your brand from competitors by highlighting its distinctiveness or marketing your brand in a revolutionary way. Take Jameson’s foray into the Nigerian market, for instance, other drink companies brand their product as aspirational lifestyle brands or luxury brands, to be honest, aspirational branding is the de-factor brand strategy for products similar to Jameson. However, Jameson took the alternative route and branded as an artsy, cool kids brand, which has sporadically fast-tracked its market penetration in Nigeria. Another example is Wanneka Hair, the hair extension retailer that achieved Instagram fame by using unique brand storytelling, unique content, influencer marketing and several other techniques to achieve market leader status in a saturated market. This branding strategy will highlight your distinctiveness and help you beat the market leader, however, your strength must be backed by good quality product and service. This style gives a feel of exclusivity, community and a unique experience for its customers. First mover When there is no other product or service like yours and you are the first of your kind, you have first mover advantage and you get to invent your market. This strategy is for brands that do not fit into any existing market. Examples of this strategy are Uber and Printivo. The taxi-hailing app market did not exist before Uber created it, so also a Nigerian online DIY print provider had not been invented before Printivo. The benefit of this strategy is that your brand would be the default market leader because you literally created this market. However, this strategy can be risky because you might not find the right product-market fit simply because the market does not exist because there is no need for it. There are several brands that flopped in an attempt to fill a need that doesn’t exist, don’t join them. This strategy comes with several copy-cats, nonetheless, patents and trademarking might help, but if your product can be easily imitated, ensure you get enough head start to gain as much market share as possible. Got an article you’d like to share with us? Share your story with us here.
Your very first steps to becoming a CEO
Life doesn’t get better by chance but by change! We all know the job business goals aren’t the easiest feat to accomplish. We may feel as though we are simply just pawns in an older generation’s game of chess, but what we must learn is that it is truly about how you play the game. Being able to control your own fate will ultimately lead you to what you want. Here are some things to realize and ways that you can market yourself to others. [bctt tweet=” Enough Excuses. Build your Image. Life is a business and you are your own CEO!” username=”SheLeadsAfrica”] Be your own brand Be unique, create an image that identifies you and differentiates you from others. Over time, this image becomes associated with a level of credibility, quality, and satisfaction. Know how to sell the best version of yourself and position your image that will be favorable to all. Know yourself. Get feedback from others and learn as much as you can about how you come across. Then you can accurately target how you appear in a crowd and what you need to work. Stand Out From The Crowd Our differences are what make us unique. How we discipline our self is very important, and those who understand and practice the art of discipline can channel impulses into something of substance. Embrace Knowledge. A wise man once said knowledge is power, more powerful than physical strength There is no end to knowledge. There is no limit to what a person can learn. Even big problems can be solved if we have the knowledge of solving it. By knowledge, it opens us up to possibilities and you will learn to realize that those possibilities that once seemed so far away are actually attainable and endless. Be confident. Believe in yourself it boost, only when you believe it you can do it, When you truly believe you can create what you envision, when you’re not afraid of the obstacles, that confidence will automatically make you stand out from the rest.Love yourself. It has nothing to do with ego, but a confidence within you that elevates your relationships with everything else. You’ll stand out by being modest but happy with who you are. Try not to Fake it till you make it Never disconnect with who you truly are. It is easy to do things when you are your true self. Most people know when someone is being fake, even from a first impression. It’s almost like speaking to a person and even though they’re wide-eyed and smiley, you know they’re not listening to one damn thing you say or care about what you have to offer and instead are only thinking about their own personal benefits. Love yourself. It has nothing to do with ego, but a confidence within you that elevates your relationships with everything else. You’ll stand out by being modest but happy with who you are. Cultivate emotional intelligence. A lot of smart people don’t know how to manage their emotions or relate well to others. Emotional intelligence attracts people who are looking to connect with someone who has their act together and who’s competent and capable.to work toward a deep understanding and hear what’s being said beyond the words. You will stand out in any situation if you become a person who listens from the heart. Take A Chance Often, we know what it is we want to do, but we still don’t do it. Why? We are innately risk averse and afraid of putting our vulnerability on the line. Risk-taking is the ultimate way that marketer achieves success. Products go through a life cycle and that first innovation stage is important and involves risk-taking. Be prepared. When an opportunity turns up, the person who is ready and able to be part whatever needs to happen will always stand out. Got a story or an article to share with us? Share your story with us here.
How to build a Strong Foundation for your Business
You have made up your mind that your business is kicking off or you have been in business but you know there are a few things you need to put in place so your business can be well positioned for success now and in the long term. Here are a few tips on how you can build that foundation that will produce the desired result of a flourishing business enterprise. INVEST IN YOUR PERSONAL DEVELOPMENT AND GET MORE EDUCATION Your business is an extension of you, how far you go, and how well you do is dependent on what you’ve got inside of you. To be successful, you have to constantly commit to more learning in your area of business and in your own education. You must know that there is no end to learning and knowledge or you might wake up one day and find out that the rest of the world has left you behind. To compete effectively in the world of business, you have to keep tab with ongoing developments and strategies in the marketplace and anyone who doesn’t have the knack for learning will be unable to succeed or stand out. KNOW WHEN YOU NEED TO HIRE EXPERTS At first, when you start out, you might need to do everything by yourself. From setting up shop to marketing, keeping the books, taking inventory, hiring staff etc. But as the business begins to grow do not be tempted not to hire the experts that will make the whole process more effective thus enabling the business to succeed even more. TREAT YOUR EMPLOYEES WITH RESPECT TO REDUCE HIGH TURNOVER OF STAFF Small businesses always have a high turnover of staff because employees never enter into the company with long-term career goals in mind partly due to the fact that the remuneration might just be something to get by, or their employers just uses them to get the job done without factoring into the whole process their needs and long-term goals. Some employers even overwork their employees and sometimes do not pay them for months! If this describes how your business operates, there is every likelihood that your business will not run effectively and will not thrive in the long run because you will continually lose the best hands. ALWAYS SEPARATE PERSONAL FUNDS FROM BUSINESS FUNDS A healthy separation of personal funds from business funds will indicate that you run your business in a professional manner and thus translate into the credibility of your business in the eyes of your customers. In addition, if it becomes necessary for you to obtain a loan from the bank, it will be easy for you to succeed with separated accounts than when they are mixed up. HAVE A GOOD CREDIT POLICY It is very important that you set your credit policy upfront before selling to a buyer who wants credit. Many businesses sell on credit to generate more sales and to have more customers but there are associated risks. If for any reason the buyer is unable to pay you, you stand to lose both your capital and profit. In the case where most of your customers are credit buyers, how will you be able to restock when customers with cash are at your doorstep? So be wise by setting up a good credit policy. NETWORK Relationships are key to any human endeavor. Your business will not run in a vacuum, you need people to make it a success. Thus it makes reasonable sense for you to initiate, build, and keep relationships with people who will enable you and your business succeed. Got a business advice for us? Share your advice with us here.
Morolake Ogunbeku-Bello: I started selling shea butter locally before getting international buyers
Originally trained at Obafemi Awolowo University, Ile Ife, Nigeria as a physiotherapist, the foray of Morolake Ogunbeku-Bello into business was needless to say, a daunting task. Marrying her background in the medical profession with growing up in Nigeria, Morolake was well positioned to acknowledge the importance of Ori (African shea butter), a viable product used extensively in Nigeria. But she went further, after various works of research and training, to reinvent this product. She calls her brand the Ori-Ewa Shea butter In this exclusive interview, she talks about her journey so far and why every home should have Ori-Ewa shea. Her story is inspiring as much as it is challenging. Happy reading. Tell us briefly about your brand, Ori-Ewa shea butter. Ori-Ewa shea is an indispensable companion and every home must have one. This is because from our head (hair) to the toes (foot), shea butter is very useful. Apart from preventing hair breakage and promoting hair growth, it’s effect on joint pain and inflammation is magical. In addition, here are a few of its other benefits/uses: Good for rough/dry skin, skin rashes, and a peeling skin It helps to heal small skin wounds, sunburn; It can also remove blemishes and wrinkles. On the whole, Ori-Ewa shea makes the skin healthy, and can even prevent stretch marks during pregnancy. How did you start the Ori-Ewa brand? The business idea came when I was looking for something to do outside the medical field where I was originally trained. I have always wanted to be an exporter. So the search began and then I came across non-oil products and shea butter happens to be one of them. I did an extensive research on how to start, by training and joining an international association on shea butter. I also joined a cooperative here in Nigeria to know more about the product and for proper training because shea butter is more than what we see on the street and most especially when you’re looking at the export side of the business. After this, I went for the international conference of Global Shea Alliance (GSA) in the Benin Republic and several other conferences organized by USAID, NEXTT, NEPC etc. Indeed, the startup capital is not quite much, but the cost of training, as well as conferences, is quite high. Although some are free, becoming a member of the cooperative and international body is not. What inspired you to start it? Like I said earlier, I got into the business because I was looking for a source of extra income and export happened to be my target. I needed to start small. I was counseled to start selling locally before getting international offers and buyers. That was how I started shea butter formulations and packaging; packing them in small plastic containers based on the training I have had. [bctt tweet=” I got into the business because I was looking for a source of extra income ” username=”SheLeadsAfrica”] What and what obstacles stood in your way when you started and how did you overcome them? As for me, I don’t see obstacles. Rather, I see them as challenges and those things I need to work on. However, a major issue remains the quality and pricing; most people compare the price of Ori-Ewa shea butter to the shea butter they sell on the streets as well as in the local markets. Little do they know that the local ones are usually exposed to direct sunlight and dust making them dirty, thereby lowering their quality. Having said that, it’s important to emphasize that Ori-Ewa Shea is pure, clean and packed under good hygienic conditions. As a result, you will surely get value for your money on any pack of Ori-Ewa shea butter bought. [bctt tweet=” I don’t see obstacles, rather, I see them as challenges” username=”SheLeadsAfrica”] What makes your brand stand out in the market The Quality of our shea butter is top notch. Ori-Ewa Shea is unique just because the quality is not what you can find in any market in Nigeria today. It is Grade A, with an export quality that has all the healing properties intact. When it comes to our brand, quality takes the front seat. And that’s the major reason why our customers keep coming back. Compared to when you started, how large is your market right now and how do you hope to scale it? To the glory of God, I started in a very small way with 1kg, then 5kg, then 7kg and so on. At the moment I have buyers in different parts of the country and with God’s help, I have some of my products in the USA already, Texas to be precise. Right now, I’m seriously on the lookout for partnerships with international companies that make use of shea butter. Looking back, what are those two key qualities you think any budding entrepreneur must have? The two key words are; One, take that step (as in START). Two, DON’T GIVE UP (once you’ve taken that bold step, the next bolder step doesn’t quit, don’t stop, don’t give up, just keep moving). The reason is that life is all about risk taking and it’s better to fail as a brave woman and not as a coward who hasn’t tried anything. People would say “she actually tried even though she failed; she didn’t give up“. Remember the popular saying, quitters never win and winners never quit. Even the Bible says it that no one has put his hands on the plow and look back is fit for the kingdom of God. Just keep going, don’t stop. In addition to taking the bold step and being resilient, what other qualities do you think a budding entrepreneur must have? Share your thoughts here
Investment Opportunities in Nigeria: The Top 4 sectors
The past year has been one of economic progress for Nigeria, with Africa’s largest economy managing to crawl back into growth territory in the second quarter of 2017. The Nigerian government has realized that they need to make the country as attractive and lucrative as possible for offshore investors to bring their capital, skills and business trade into the country. [bctt tweet=”The need to develop the Nigerian economy offers lucrative potential returns” username=”SheLeadsAfrica”] One way is to provide tax holidays to “pioneer companies,” who are engaged in the production of export goods, establishing new industries, or expanding production in vital sectors of the economy. Pioneer companies that are eligible under the Industrial Development (Income Tax Relief) Act can enjoy an income “tax holiday” for a period of up to five years. In addition, pioneer companies enjoy other benefits such as the exemption from withholding tax on dividends paid out of pioneer profits. Here’s a look at investment opportunities to consider: MANUFACTURING Nigeria’s population is an estimated 186 million people. This population suggests a massive potential workforce as well as a consumer base. For a manufacturer this is an ideal scenario, not only do you have potential customers, but you also have potential employees. The Nigerian government is eager to expand the manufacturing capability in the country, and to that end, they are offering incentives for manufacturers that are able to locally source their raw materials, for example, agro-allied manufacturers processing foodstuffs such as fruit juices and vegetable oils. Any manufacturing industry that provides multiplier effect solutions for the economy is also looked upon favorably. An example of this would be machine tools, flat sheet metal, and spare parts manufacturing. Finally, any investment in research institutes, especially those that focus on adaptive research and commercialization of local inventions, is looked upon favorably by the Nigerian government. [bctt tweet=”An organization that has seen the potential in Nigeria is US-based software trainer @Andela” username=”SheLeadsAfrica”] INFORMATION AND COMMUNICATION TECHNOLOGY SERVICES Nigeria is one of the fastest growing internet users in the world. According to Statista, a global statistics company, there are approximately 76.2 million Nigerian internet users as of 2017. This is an increase of nearly 50 percent from the 2013 figure of 51.8 million. There are millions of Nigerians who are interested in involving themselves in Information Communications and Technology Services (ICTS). This new economy does not require someone to be in a specific location to provide the service needed, rather they can be located anywhere in the world. An organization that has seen the potential in Nigeria is US-based software trainer – Andela. The company offers learning programmes for young adults who are wanting to become computer programmers. [bctt tweet=”Nigeria is one of the fastest growing internet users in the world” username=”SheLeadsAfrica”] The learning programme is a 2-year practical course where the learner interacts with companies around the world and assists them in building programmes, websites, and mobile applications. After the conclusion of the programme, the learner is able to provide remote programming support to companies that they have built a relationship with. By tapping into the underdeveloped skills of the Nigerian youth, there are countless opportunities for new economy companies to develop technology leaders of the future in Nigeria and in the rest of Africa. [bctt tweet=”The Nigerian government has set up incentives to help modernize and mechanize their agricultural industry” username=”SheLeadsAfrica”] AGRICULTURE Nearly one-third of all employed Nigerians find themselves working in the agricultural sector, which is one of the country’s main foreign exchange earners. The Nigerian government has set up incentives to help modernize and mechanize their agricultural industry. Not only will locally grown foodstuffs be promoted on behalf of the investor, business and enabling companies may receive the pioneer company status and qualify for tax incentives. Subsidies on fertilizer and zero import duties on raw materials needed to manufacture livestock feed are some of the other incentives to attract investors to this sector. Another is the release of grants from the Raw Materials Research and Development Council for research and development that leads to the greater domestic use of Nigeria’s raw materials. PRIVATE EDUCATION The need for skilled tradespersons, computer programmers, and agricultural workers will only increase in demand as Nigeria transforms its economy and becomes an international economic power. At present, there is an opportunity for private education to offer specific programmes that are in demand in the country. Nigeria is a country with vast underemployment and by offering distance learning or night schools, there is potential for strong investment returns in for-profit education. As an example, one can look at the success of Curro in South Africa, which began as a private for-profit primary and secondary schools but now even has a post-secondary offering. If a Nigerian model were created that focused on skills development, the potential returns could be very lucrative. Nigeria is in the fortunate position to offer investment opportunities to both local and international persons and companies. The need to develop the Nigerian economy offers lucrative potential returns for those looking to invest in the above sectors, including manufacturing and private education. These areas are in some ways interconnected, and by increasing the investment and development in one area, there is tremendous potential for spillover into the other, sectors.