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Business is not about classroom A+, you need a different skill for A+ of markets

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Business is not a competition of who is the smartest person in a classroom. Check clearly, business is about who understands the needs of potential customers and can provide solutions for them, optimized over value, pricing and other factors.  While you might have made A+ in the classroom exam, in the exam of business, new skills are required, and that A+ cannot be transferred automatically from classroom to the market.

That demands reality and humility by understanding that to win in markets, you must make efforts to understand the customers. Unfortunately, customers are moving targets unlike your handouts or course textbooks!

Then, after you have built that product, you must also communicate what that product does, if you hope to have the ability to convert those customers to paying ones. Be clear, concise and do not try to be super-clever as you plot how to explain what your product does. Indeed, you do not have to make yourself seem “important”. How can you wait for that client for extra 30 minutes? How can you smile when the customer tells you that your product makes no sense? How can you feel engaged when the client shows no interest?

One line: forget yourself and focus on the outcome. That is how you get that A+ in the market: perseverance, dedication and absolute commitment to the strategic goal.

In business, your objective is one thing: customers must understand your products so that they can open their wallets. And as you do that, show uncommon composure because business is built on “addition”: we are not friends, but let us forget that, after this transaction we can return to being “enemies”, but right now, for the sake of business, let us close this deal as friends.

How Rich are Nigerian pastors: A guide to starting a flourishing church in Nigeria.

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For you to enjoy this piece and make the most out of it, you would need to shove aside your religious biases and idiosyncrasies for a moment. 

Nigerian pastors are ranked to be the richest in the world and the simple reason why churches flourish and boom as a business in Nigeria is because Nigerians are tremendously religious and we also have a large population; over two hundred million people out of which half of that size are Christians.

Most of these Christians live up to some “christianly” religious laws and virtues that fetch money into the coffers of the church and Nigerian pastors no doubt have mastered the skills of squeezing this popular Christain trigger phrases, hence why Nigerian pastors are ranked richest in the world. Some of these religious laws and Christain-like virtues include;  you have to pay 10% of your total earnings immediately after the earnings hit your bank if not you are robbing God, this is called a tithe. After the tithe, you are also to pay your offerings, which could even be bigger than your tithe, it can as well be all you have, which is religiously called “the widow’s might”, or as the spirit leads you or as God places in your heart to; after offering you are also to sow seeds. Sowing of seeds so you reap a bountiful harvest, in tens of millions of folds, after then, you are also to pay your first fruits.

How rich are Nigerian pastors or Nigerian Christian religious leaders then?: the simple answer is that they are extremely rich, I mean they are extravagantly wealthy. Riches and wealth are in categories but there is this highest category which people on the street refer to as “private jet rich”. When a person is so rich that he or she can afford a private jet and owns a private jet, then that fellow is on another level of wealth and riches. Most Nigerian pastors and Christain religious leaders are on this level.

It is in this 21st century that pastors in Nigeria have made being a pastor glamorous and appealing as against the earlier belief that once you’ve decided to be a pastor or priest you have signed up to be abjectly poor for life and dedicate your life solely to the service of God and in the service of humanity.

Nigerian pastors now drive the latest models of exotic cars. There was a car that is currently owned by a popular Nigerian “wealthy pastor “ and it is rumored that the car is just one in Nigeria and he is currently the only person that owns that kind of car in Nigeria. You guessed right, the car is extremely expensive. If a politician dares to purchase that car it will be confiscated because it will be so obvious that it was acquired using stolen public funds. It is so eye soothing and scintillating to see Nigerian pastors driving exotic cars in convoys like Rolls Royce, Maybach, Range Rover, Bentley, Porsche, and even Private jets, all the latest models. This is to show that serving God truly pays; the payment can be in life after death and as well payment in material wealth here on earth.

Nigerian pastors now wear exotic clothing brands like Gucci, Giorgio Amani, Fendi, Dolce and Gabbana, Versace, etc, to preach, a young Christain watching his pastors preach with so much candor and class without breaking a sweat in order not to stain his expensive wears will definitely want to be a pastor.

To those Christain folks with business mindsets, who after seeing some pastors live lavishly and “prosperous”, have considered venturing into the “pastoral career” as well, I have good news for you, becoming a pastor is easy, you do not have to do much; I learned that there is a special qualification to that career which is “getting called by God”, but I doubt if that matters much, all you need is to learn how to speak convincingly and persuasively, then learn to preach in well spoken English with candor and class so you can appeal to the elite Christians, then learn to dress well also; and lest I forget, location matters in everything, or haven’t you thought about why the rich pastors are concentrated in rich cities like Lagos, Ogun, Abuja, Port Harcourt, Warri, oh yes, that’s where the money is, rich people reside in those cities. Don’t even think you will be rich; I mean Roll Royce and Private Jet Rich if you go to some places like Taraba or Nasarawa state to situate your church, even though our God can bless anybody anywhere but you also need to make it easier for God to bless you, the money you need is not in those states because they have a lesser population as Christians and the state is not also flourishing economically. 

For you to be successful as a pastor, you need to master these religious persuasive phrases which some were lifted out of scriptural passages like; reaping in bountiful harvest or reaping in ten or million folds, give and it shall be given unto you, good measure, press down and shaken together and running over shall men give back unto you, you must learn to recite the above phrase with vigor during offering time if you want to collect a good offering from members; can a man rob God, if you do not pay your tithe you are robbing God, this phrase is important before tithe collection; your first fruit which is your first earning for the year belongs to God, this phrase is good to be said at the starting of the year so your members who may be stubborn will pay everything they earned at the beginning of the year as their first fruits. 

You also need to create a budget for marketing and advertising, just like in business, nobody will patronize you if they do not know you, so spend money on social media marketing and also on mainstream advertising. Also, create a budget to invite popular gospel musicians to your church and even entertainers like comedians, oh yes, you read right, that is a good strategy to draw members to your church after all the Bible says that there is time for everything things even a time to laugh and be entertained in the church by secular comedians and entertainers. 

When you have gathered those new members through different acquisition strategies, you also need to retain them and convert them to full-time members of your church, you can do this by what they call “follow up”. You need a department in the church to handle this because this is an important strategy. Constantly call them and remind them of church services, if they are influential members of society, make them leaders in church, make him or her a deacon or a deaconess. You should pay more attention to the rich and affluent members of the church, they hold the key to that private jet you want. 

Most importantly, do not pay church workers from monies made by the church, or do you want to reduce your pastoral ration? All the money made is for you and for the expansion of the church (the work of ministry), after all, the church workers are in service of the Lord and their rewards are in heaven, they can only be carnal to be expecting a material or earthly pay for their heavenly service, their reward is in heaven. They should as well count themselves worthy to be chosen to serve in the vineyard of the Lord. 

Also make sure to be close to the government in power and closer to the reigning politicians of the day so you can get contracts, pecks, and grants from the government. After all, you serve a God of multiple sources of income. Do not even think of criticizing the government even when the Government is doing something wrong, that will be you biting the finger that feeds you. if people ask you why you do not speak against the ill vices of the government as a religious leader, keep this scripture handy to support your silence; “give to God what belongs to God and give to Caesar what belongs to Caesar; pastors are called to tend to the spiritual flocks and not to mingle with politics after all politics is a dirty game”. Your audience will applaud you, I promise you that they won’t know that why you are quite over the ills and vices of the government is that you do not want to be in the black book of the government and stop getting those contracts and pecks from the government. In the same vien, make sure you do not preach against your church  members with questionable source of income, if not they might be angry and leave your church, all that should concern you is how to get the money out of their hands into the church offering box, leave judgment for God.

Finally, spending money on good music and sound equipment and good interior decorations also helps. Have you not thought of why nightclubs and expensive restaurants rip their patrons off with inflated prices? it’s just the packaging and branding. Package and brand your church to be an elite or first-class church and you will attract elites and first-class members of the societies as members.

You see that I have not mentioned miracles or good knowledge of the Bible; you do not need to be a miracle worker or have a good knowledge of the Bible to be a successful pastor in Nigeria today, although if your prayers can perform miracles and you can break down scripture then that is a plus; that is why you should brand yourself to appeal to elite Christians, elite Christians do not care much about miracles all they want is a good and cozy environment to worship their God and pay back to God through fat offerings and tithes.

I’m sure with the bullet points I have highlighted here, you have gotten some points you need to set you apart in starting your church business and flourishing in it but do not forget to sow seeds to me for this eye opener I have given you when the business starts to boom.

Praise the Lord somebody!

A Call to Business Execution – Ndubuisi Ekekwe

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This is Tekedia Mini-MBA Graduation Week. In our live session tomorrow, I will deliver a message: A Call to Business Execution.  Largely, it is ACTION time and we need to go to the markets, and apply all that we have mastered in this 12-week program. Yes, until it is done, it has not been done! Do it.

While tomorrow’s class is for our Learners, the Graduation Lecture scheduled on Sat, Dec 3 at 7pm WAT is for everyone. Details below:

Graduation Lecture:  Building Category-King Companies and Winning in Business

Date/Time:  Sat, Dec 3 | 7pm – 8.30pm WAT

Presenter: Prof Ndubuisi Ekekwe

Zoom Link – here 

Tekedia Institute offers Tekedia Mini-MBA, an innovation management 12-week program, optimized for business execution and growth, with digital operational overlay. It runs 100% online. The theme is Innovation, Growth & Digital Execution – Techniques for Building Category-King Companies. All contents are self-paced, recorded and archived which means participants do not have to be at any scheduled time to consume contents. Besides, programs are designed for ALL sectors, from fintech to construction, healthcare to manufacturing, agriculture to real estate, etc.

The sector- and firm-agnostic management program comprises videos, flash cases, challenge assignments, labs, written materials, webinars, etc, and is delivered by a global faculty coordinated by Prof Ndubuisi Ekekwe. It will run from Feb 6, 2023 to end May 6, 2023. Tekedia Institute, Boston USA, awards certificates of achievement at the end of the program. Register here.

Meta Fined $276m by European Watchdog Over Data Leak

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Meta, Facebook’s parent company, has once again received a huge €265 million ($276 million) fine from Ireland’s Data Protection Commission, over the data leak that exposed the information of more than 500 million users.

The data leak which took place in April 2021 triggered an investigation from the DPC. The watchdog was looking to determine if the leak, which involved 533 million users, had happened due to Facebook’s non-compliance with Europe’s General Data Protection Regulation (GDPR) laws.

The probe found that the social-media company had failed to apply strict safeguards required under GDPR’s regulation. The regulator said the social media company infringed two articles of the EU’s data protection laws.

The leaked information, which was posted to an online hacking forum, included the full names, phone numbers, locations, and birthdates of users on the platform from 2018 to 2019, per Insider. Meta said the leak happened through a vulnerability that Facebook had fixed in three years ago and it has the same information that was found in a prior leak reported by Motherboard in January 2021.

In addition to the fine, GDPR “imposed a reprimand and an order” requiring Meta to “bring its processing into compliance by taking a range of specified remedial actions within a particular timeframe”.

The fine has added more to the social media conglomerate’s troubles. The European data regulatory watchdog has thrice caught Meta in its web this year over mismanagement of user data and other antitrust issues.

In March, the DPC fined Meta $18.6 million for bad record-keeping in relation to a series of 2018 data breaches that exposed the information of up to 30 million Facebook users. Meta also received a $402 million fine from the European regulator in September following an investigation into Instagram’s handling of teenagers’ data, per Insider.

Meta has been fined nearly $700 million by the DPC in 2022. In 2021, the company received about $1 billion in fines, including the $267 million fine WhatsApp incurred for violating Europe’s data privacy laws. In a statement obtained by Newstalk reporter Jess Kelly, an unidentified Meta spokesperson was quoted as saying:

“We made changes to our systems during the time in question, including removing the ability to scrape our features in this way using phone numbers. Unauthorized data scraping is unacceptable and against our rules and we will continue working with our peers on this industry challenge. We are reviewing this decision carefully.”

Meta has lost its place in the league of trillion dollar US companies. The social media behemoth saw its market value dropped to below $300 billion, forcing it to lay off 11,000 employees in an aim to cut costs.

MTN Deepens Expansion of 5G Internet Service in Africa

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Multinational telecommunications company MTN has deepened its expansion of 5G internet service in Africa, with its recent launch in Zambia.

Following its launch in Zambia, it has become the first telecoms operator in the South-Central African country to offer 5G services commercially, following its 5G trials over the past 11 months.

The 5G internet service will cover about 15% of the country’s population, while also covering about 65% of the population in cities such as Ndola, Chingola, Solwezi, Kalumbila, Kitwe, and the capital Lusaka.

The Launch of the 5G network which took place at Mulungushi International Conference Centre was presided over by the President of the Republic of Zambia, His Excellency Mr. Hakainde Hichilema.

The occasion also had in attendance several Zambian government ministers and representatives of the sector regulator and central bank.

Speaking at the launch ceremony, MTN Zambia CEO Bart Hofker said, “We plan to reach 100% 5G coverage in Lusaka, Kitwe, and Ndola by the middle of 2023, while gradually expanding the 5G network to other locations,” he said, adding that MTN Zambia customers need a 5G-enabled device to connect to the 5G network where it is available.

The introduction of 5G is part of a wider network strategy for MTN Zambia. Other programs include the optimization and modernization of existing 3G and 4G networks, the building of a fibre ring in Zambia with MTN GlobalConnect, as well as the extension of coverage in more rural areas.

MTN’s launch of the 5G network in Zambia is coming after it launched the service in South Africa and Nigeria respectively.

The company seeks to improve the communication of its users by providing them with higher internet speed and lower latency than its predecessors, assuring them that there will be less time wasted on sending and receiving information on the web.

It also focuses on allowing its customers to connect faster than ever, with its high internet speed that makes downloads faster and digitization more seamless.

MTN is the largest mobile network in Africa, in terms of indigenous networks, with a subscriber base of 152.3 million. The company employs 17,509 workers and operates in 21 African countries. Despite its remarkable achievements in the telecoms sector, the company is in no way resting on its oars as it constantly seeks to improve its services.