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What Angel Investors Look Out For Before Investing in Your Business

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Angel investors invest in early-stage startup companies in exchange for a stake in the company. Angel investors hope to replicate the high-profile successful investments made in companies like Airbnb, Facebook, Instagram, WhatsApp, Uber, and more. Angel investors typically make small bets ($25,000 to $100,000) with the hopes of getting “home run” returns. Angel investors understand that startups have a high risk of failure. So ultimately an angel investor needs to feel confident that the potential upside/rewards from investing are worth the downside risks. Angel investors review a variety of key issues and undertake due diligence before they invest in a startup. In this article I discuss the key items angel investors analyze in deciding whether or not to invest in a startup. Is There A Great Founder/Management Team? Many investors consider the team behind a startup more important than the idea or the product. The investors will want to know that the team has the right set of skills, dr

Business Lessons You Can Adapt from Big Corporates

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“Experience is the best teacher.” It’s not necessary that you have to know everything before you start a business, so many new things will come along the way and eventually, you will learn anyhow. Consider Apple , Tesla , SpaceX , Google , Microsoft and Amazon . These are the companies that went huge, after many years, and every young entrepreneur should know these famous business lessons; Look outside the box when sourcing Talent : Your first 10 people will determine how far your company can go, so hire slowly and fire rapidly. Encourage your Employees to think big, even to quit, if it’s for the best : Make your employees your asset so that they will work long way for you and you don’t need to train people every now and then. Be clear with your expectations : Whatever targets you make for the day, month and year, be specific and achieve them anyhow and show it to your team, make it a habit and you will never miss your goals. Be intentional with how you build your work culture : Your

How To Bring Former Customers Back to Your Business

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When you’re looking at the future of your business, it can pay to take a moment to look backwards. Specifically, focusing on the customers who used to do business with you can improve your relationships with current customers — and give you a surprisingly affordable way to grow your business. Customers leave for any number of reasons. Those who were dissatisfied or angry with your business probably won’t come back. But the rest — those who simply may have been tempted to do business with one of your competitors or those you just didn’t work hard enough to keep — may be willing to return and do business with you again. Going after those ex-customers is well worth the effort. After all, they thought well of you enough to do business with you in the first place. Just as important, they already know who you are and what you can do, so you don’t have to invest a lot of money to introduce yourself and explain the basics. You do have to be careful that you don’t fall into the mindset that aff

Top 10 Ways to Inspire Your Staff

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When you look out on your workers, what do you see? Is it a team of hard-workers who love what they do or a group of professionals just trying to get through their day? Either way, it could have a lot more to do with you than you might think. You may have hired the perfect team with extensive experience and a proven track record, but if their enthusiasm is waning, it may be time to re-evaluate your management style. To help you rethink your leadership strategy, we’ve created a helpful list of 10 easy ways to inspire your staff, keeping them motivated and ready to take on any challenge. 1. Stop micromanaging Nobody likes to be micromanaged. If your employees feel like they constantly have someone looking over their shoulder, they’ll be too nervous to try new things, which limits their potential. By taking a step back and giving your team more autonomy, you’re showing that you have faith in their ability to get the job done, which can inspire them to give it their all. 2. Make it safe to

FG releases new details on MSMEs support scheme, budgets N200 billion for loans

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  The Federal Government has released new details on the Micro Small and Medium Enterprises (MSMEs) support scheme being rolled out under the National Economic Sustainability Programme. According to estimates provided, the sum of N50 billion will be used to provide payroll support, N200 billion for loans to artisans, and N10 billion support to private transport companies and workers. The government disclosed in a tweet on the official handle of the government, the support scheme will include a Guaranteed Off-take Scheme for priority products, and an MSMEs Survival Fund. Modalities for the take-off scheme The first track is a Guaranteed Off-take Scheme which will ensure continued local production and safeguard 100,000 existing small businesses to save 300,000 jobs. Priority products include processed foods, personal protective equipment, hand sanitizers, face-masks, face-shield, shoe-covers and pharmaceuticals. The implementation committee chaired by Ambassador Mariam Katagum, Minister

5 Practical Things Small Businesses Can Do During This Pandemic Lockdown

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This pandemic provides a good opportunity for businesses to do some re-evaluation; ask questions about how to improve efficiency after this blows away. Notwithstanding the losses incurred as a result of the COVID-19 Pandemic worldwide, I daresay that this is a rare opportunity for businesses. This may be the best time to dot the I’s and cross the T’s, making necessary adjustments to strengthen operations, service delivery, and other major aspects that are vital to the growth and stability of any organization.  In this piece, I will share 5 things that businesses across the board can do to bring their operations up to par. (1) Update Database and Codify Processes:  This pandemic provides a good opportunity for businesses to do some re-evaluation; ask questions about how to improve efficiency after this blows away. One way to achieve that is by codifying processes and updating database. It is popular knowledge that information is vital for any business to survive. This means tha

Billion or Bust? 4 Questions to Assess the Strength of Your Business Idea

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While the health crisis is far from over, the business world and consumers alike have mostly overcome the “survival” phase and are starting to adapt to what it will mean to live and operate, post-pandemic. Now faced with a “new normal,” budding entrepreneurs are reassessing business ideas that had been on the backburner and exploring their potential in the current circumstances. But while many businesses have successfully launched during times of economic downturn — Mailchimp, Airbnb, and Whatsapp, to name a few — that doesn’t mean it’s the right time for everyone. When it comes to post-crisis strategic thinking, aspiring business founders must consider how the needs, wishes, and budgets of consumers have changed for the long term. So if you think your business idea has potential, ask yourself these four questions to determine its strength in today’s landscape: Do you fit into the new normal? Business as usual is off the table, at least for a while. If you envisioned your bu