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Do You Have A Promising Business Idea? Here’s How To Turn It Into Reality

By
TI Partners
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1

If you have a promising business idea, turning it in to reality can be exciting and rewarding. However, it takes more than just a great idea to succeed as an entrepreneur. You need to have the drive and determination to see your business through, as well as the ability to execute your vision. Here are some tips to help you turn your promising business idea into reality.

1. Register your company

This is the first step to starting any business, and it’s important to do it right. Make sure you choose a name that represents your brand well and registers all the necessary paperwork with your local government. Additionally, opening a business bank account will help you keep your personal and business finances separate. According to Uniwide.co.uk, separating your personal finances from your business finances is important. This will help you to maintain better records and could save you money come tax time. 

If you’re not sure where to start, there are plenty of resources available to help you register your company. It’s important to get this step right so that you can move on to the next steps with confidence.

2. Develop a business plan

A business plan is essential for any business, large or small. It will help you map out your goals and strategies for achieving them. Your business plan should include an executive summary, company description, market analysis, competitive analysis, product/service information, sales, and marketing strategy, financial projections, and Appendix. If you’re not sure where to start, you can find plenty of templates and examples online. Once you have a solid business plan in place, you’ll be able to move forward with confidence. Additionally, your business plan can be used to secure funding from investors or lenders.

3. Secure funding

If you need funding to get your business off the ground, there are a few options to consider. You can look into small business loans, crowdfunding, or investing. Each option has its own set of pros and cons, so be sure to do your research before making a decision. Once you’ve secured funding, you’ll be one step closer to turning your business idea into reality. Additionally, having a solid business plan will make it easier to secure funding from investors or lenders. This is why it’s so important to have a well-thought-out business plan in place before you start seeking funding. It’s also important to keep in mind that not all businesses will need funding. 

4. Hire a team of experts

If you’re not an expert in every area of business, that’s okay. You can surround yourself with a team of experts who can help you with the areas you’re not as familiar with. This could include hiring a financial advisor, accountant, lawyer, marketing consultant, or web developer. Putting together a team of experts will help you avoid making costly mistakes and will give you the best chance for success. If you’re not sure where to start, there are plenty of resources available to help you find the right experts for your team. 

Also, don’t forget to ask for referrals from your network of family and friends.

5. Create a marketing strategy

If you want people to know about your business, you need to have a solid marketing strategy in place. There are a variety of marketing channels you can use to reach your target audience. This could include online advertising, social media, content marketing, email marketing, or even event marketing. The key is to identify the channels that will work best for your business and then create a plan for how you’ll use them. 

If you’re not sure where to start, there are plenty of resources available to help you develop a solid marketing strategy.

6. Launch your business

After all the planning and preparation, it’s finally time to launch your business. This is when all your hard work will pay off. Make sure you give yourself enough time to properly launch your business so that you can avoid any last-minute hiccups. Once your business is up and running, you’ll be able to start working towards your long-term goals. Additionally, don’t forget to celebrate your successes along the way. It’s important to enjoy the journey as well as the destination. If you keep these tips in mind, you’ll be well on your way to turning your business idea into reality.

7. Keep track of your progress

As you start to achieve your goals, it’s important to keep track of your progress. This will help you identify what’s working and what’s not. Additionally, it will give you a better understanding of your customers and what they’re looking for. There are a variety of tools you can use to track your progress, such as Google Analytics or social media analytics. By regularly tracking your progress, you’ll be able to make adjustments to your business as needed. 

This will help you ensure that you’re always moving in the right direction. It’s also important to remember that your business will evolve over time. As you learn more about your customers and what they want, you’ll be able to make changes to your business accordingly.

8. Be prepared for bumps in the road

No matter how well you plan, there will always be bumps in the road. This is why it’s so important to be prepared for them. Having a solid plan in place will help you weather any storms that come your way. Additionally, it’s important to have a support system in place. This could include family, friends, or even business mentors. Having people you can rely on will make it easier to get through tough times. 

Additionally, don’t forget to take care of yourself. This is especially important if you’re the sole owner of your business. Make sure you take time for yourself so that you can avoid burnout. It’s also important to have a contingency plan in place. This way, you’ll be prepared for anything that comes your way.

More so, if you have a promising business idea and want to turn it into reality, one crucial aspect to consider is having a reliable business voip phone service that can provide you with the communication tools and features necessary to effectively connect with customers and stakeholders.

By following these tips, you’ll be well on your way to turning your business idea into reality. Just remember to keep your long-term goals in mind and to be prepared for anything that comes your way. With a little hard work and dedication, you can make your business dreams come true. It’s important to enjoy the journey as well as the destination. 

Registration Closing for Tekedia Mini-MBA; Register Today

By
Ndubuisi Ekekwe
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0

Welcome to Tekedia Institute! We run an amazing business school which has attracted professionals and students from 41 countries. Our Faculty members come from Microsoft, Google, Shell, Flutterwave, Nigerian Breweries, Jobberman, Coca Cola, and other great organizations. Besides the pre-recorded courses, thrice weekly, I coordinate live Zoom sessions (Tue, Thur and Sat at 7pm WAT) on the mechanics of business systems with our Faculty and Guests, covering many industries and business domains.

We just started a new edition of Tekedia Mini-MBA. You can still register and join us before we close it. This is the temple for the mastering of the physics of Africa’s entrepreneurial capitalism. Come and learn from professionals; REGISTER here.

Google Tightens Security in Platforms By Expanding Ads Verification To Tackle Financial Scams

By
Ojukwu Emmanuel
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0

In a bid to curb the incessant promotion of financial scam ads on its platform by unscrupulous people, Google has decided to expand a verification program for financial services ads after discovering a “pronounced decline” in reports of ads promoting financial scams.

Few countries like Australia, Singapore, and Taiwan were the first in line to get the requirements as part of a phased expansion. However, Google has disclosed that it plans to further expand the verification requirements to advertisers in additional countries and regions in the coming months.

The verification layer sits atop Google’s financial products and services policy, looping in a local financial regulator by which advertisers must demonstrate that they are authorized to have their financial services ads accepted by Google, thereby adding a layer of security against the ad-tech giant, accepting and running ads for crypto investment scams and the likes.

In the UK the financial conduct authority (FCA) is the regulatory body that financial services advertisers must demonstrate that they are authorized by equivalent oversight bodies that will come into play in three new markets.

The search engine company has disclosed that those who want to advertise and promote financial products and services in these markets will be able to apply for verification at the end of June.

What this means is that advertisers who have not completed the new verification process rolled out by Google before the closing date will no longer be allowed to promote financial services ads.

kudos to Google for rolling out this new verification process on its platform, because there have been countless reports of people getting scammed on the it through fraudulent scam ads. No doubt, Google has for a long time earned its name as a trusted brand, not until unscrupulous people began to take advantage of the platform by posting fraudulent scam ads, knowing full well that a lot of people will be baited due to the site’s credibility.

Unfortunately, it turns out that the platform lately has been infiltrated by a lot of scammers. The reports about their fraudulent activities became too much that even before Google decided to launch its financial ads verification policy, the company has been under pressure from the FCA to tackle these fraudulent activities on its platform, or they risk a fine with legal action if the platform continues to accept unscreened financial ads.

In 2020, Google removed about 3.1 billion ads for violating its policies and restricted an additional 6.4 billion ads globally. It might interest you to know that scammers are also using Google ads to steal crypto wallets. These scammers place ads at the top of Google searches that imitates popular wallet brands, such as Metamask and phantom, to trick users into giving up their wallet passphrase and private key.

Apart from the fact that Google is working hard to protect its users from falling victims to these fraudulent scam ads, it is also important that we all play our part to avoid falling victims. We must ensure not to click on suspicious links, and also avoid giving out important bank details or crypto wallet addresses to suspicious users or filling it on suspicious sites.

With each passing day as Google intensifies its security on the platform, scammers on the other hand are also devising new methods to crank down on the security verification process. Even though Google’s algorithm is designed to select sites that look trustworthy or have the greatest search to pop up on the top of the screen, we shouldn’t be quick to assume that the results considered most authentic would always sit up at the top of your screen.

What we must understand is that these fraudsters have gamed the system by also enabling their ads to sit at the top of the screen, knowing full well that a lot of people will assume such ads to be credible.

5 Scholarships for Female Founders At Tekedia Institute

By
Ndubuisi Ekekwe
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0

Good People, join me to thank Nnaemeka Anyanwu, MBA, PMP, ACP, who just made a donation to Tekedia Institute General Scholarship Fund. Through his generosity, more young people and innovators will experience our top-rate business education.

For this donation, we will offer scholarships to 5 female founders in any location in Africa. Reach out to Eyitayo Adeleke, mMBA Adeleke , if interested, with a description of your business. Because Tekedia Mini-MBA has started, I expect him to make the selection latest tomorrow, to ensure the recipients can join our live Zoom opening ceremony on Saturday. I will open the  live session,  teaching on  “Innovation, Growth and Mission of firms”.

Thank you Nnaemeka for funding the future, again!

Source

Updated: These are the recipients

Tekedia Institute is excited to welcome these five founders to Tekedia Mini-MBA, courtesy of Nnaemeka Anyanwu, MBA, PMP, ACP generous donation. We use the moment to celebrate innovators and change makers in our African economies. Tekedia treasures this opportunity to co-learn with #builders in markets. Welcome #leaders to Tekedia Institute!

The Big Global Discovery – Everyone has a role in this world.

By
Ndubuisi Ekekwe
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0

It is really interesting that the world is learning that Russia and Ukraine do actually contribute so much to this world. With these countries cut-out due to sanctions or conflict, we’re learning that it is not just those with the big media that are powering the world economy.

The Igbo Nation captured it clearly:  the ant-hills are not built by the elephants but by collective efforts of the little neglected ants. Indeed, everyone is contributing something in this world despite what the global media networks will tell you. So, we need to push for the rise of all, not just a few because everyone has a role in this world.

The EU is having real changes due to this conflict: “The European Central Bank (ECB) plans to raise interest rates from historic lows in order to counter record high inflation fueled by the war in Ukraine. ECB kept rates unchanged in today’s meeting but confirmed plans to hike rates when it next meets in July. It said today it is looking at a 0.25% increase next month.”

“The Governing Council intends to raise the key ECB interest rates by 25 basis points at its July monetary policy meeting. In the meantime, the Governing Council decided to leave the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50% respectively. Looking further ahead, the Governing Council expects to raise the key ECB interest rates again in September,” ECB said in an announcement Thursday adding that “beyond September, based on its current assessment, the Governing Council anticipates that a gradual but sustained path of further increases in interest rates will be appropriate.”

Indeed, if Russia and Ukraine conflict can trigger global recession, that is a clear validation that they have real and evidential impacts (energy supplies, food supplies, etc) on the world economy. Even my dear Nigeria does contribute something. We just need to reject some of these global postulations that “others” offer nothing of value!

As the Russia-Ukraine war enters its fourth month, the impact has continued to be felt around the world as economies battle to tame inflation emanating from it.

Food shortage and high cost of oil prices have characterized the global economy since Russia invaded Ukraine on February 24 2022. Now the war is widening its impact on economies that the fear of global recession can no longer be excused.

On Tuesday, the World Bank slashed its global growth forecast by nearly a third to 2.9% for 2022, warning that Russia’s invasion of Ukraine has compounded the damage from the COVID-19 pandemic, and many countries now face recession.

Comment on LinkedIn Feed

As long as we keep calling people who cannot manage their own individual lives ‘world leaders’, expect more surprises.

We have an interesting scenario, which our obviously confused leaders didn’t correctly predict, and neither do they know where to go from here; maybe some miracles will need to happen.

Putin and Russia cannot back down and leave Ukraine, because that would look like a defeat, and no one enjoys being humiliated.

Zelensky and Ukraine cannot surrender, because it means that they just wasted everyone’s time, allowed their cities and economy to be destroyed, only for them to surrender.

The guys hammering sanctions on Russia cannot stop, because it will portray them as being weak, ineffective and immoral; so as they contemplate more sanctions they also need to ratchet up weapons supply to Ukraine, to keep things going.

Who did the scenario modelling and were convinced that the world was ready for all the confusions? We thought that real economies are measured by capital markets and GDP size, now you know that the things are not that straightforward, only that we never learn.

This is just Russia, and we are shaking like this, what happens if China goes to war and sanctions are hammered? It’s rest in peace then.

World Bank Warns of Global Recession, Slashes 2022 Economy Growth Forecast to 2.9%

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