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Accelerate That Product By Spotlighting It

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The summary: make sure you dance where people can see you in the village square. Otherwise, nothing will happen. In ancestral Igbo, the young men who have come to find future wives will not discover you unless they can see you. So, dance where everyone will see you!

Take that to building products and making sure people know about them.  It is your obligation to make sure that everyone knows about your best product because doing so is executing a public good call. If you deny people of knowing your great product, you are not fair to them. Simply, you are not giving them the chance to use the best!

It is what it is:  make that product popular. Samuel Ajiboyede explains on the necessity of making sure products have their spotlights here.

Research tells us that 21.5 percent of startups fail in the first year, 30 percent in the second year, 50 percent in the fifth year, and 70 percent in their 10th year. Keep in mind that some of these startups have awesome solutions that solved a market need. Some had all the funding, as the founders had invested their time, energy, and life savings, expecting their perfect product to become a hit in the market. They expected that just like Google and other search engines, people would look for them to solve their needs every day.

Sorry to burst that bubble or maybe I should call it a myth. It is not the best product that wins. It is the best-known product that wins.

This might not sound real to you, but I want you to take a second look at the assertion. Contrary to what you think about the customer picking the best product available, the customer can only choose the best product he or she knows. Think of it this way. Your customers are like people in a dark room looking for a solution to their problem.

It is not the best product that wins… It is the best-known product that wins.

The Success Story Of Prof Eze As 7th Substantive FUTO Vice Chancellor (II)

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Part 1 here.

It’s worth noting that three different schools (faculties) were created under the watch of Prof. F. C. Eze as the FUTO Vice-Chancellor (VC) to expand the scope of the University.

The schools are namely: School of Information and Communications Technology (SICT), School of Electrical Systems Engineering Technology (SESET), as well as the School of Medical Sciences otherwise known as the College of Medicine and Health Sciences, which was approved by the appropriate authorities after undergoing rigorous verification processes.

In addition, three Centers of Excellence were duly established in the University under his reign. They are: the Africa Centre of Excellence on Future Energies and Electrochemical Systems (ACE-FUELS), powered by the World Bank; the Centre of Excellence on Sustainable Procurement, Environment and Social Standards Enhancement (CEs-PESS), also powered by the World Bank; and the Centre of Excellence on Local Materials Substitutions, powered by the Nigerian Content Development & Monitoring Board (NCDMB).

His administration further established the Centre for Waste to Wealth Research and Development in the FUTO Community, having understood the economic value of waste recycling.

His wealth of wisdom also ensured the creation of the Office of the Deputy Vice-Chancellor (DVC) on Research, Development and Innovations, a section that has tremendously helped to write the University’s name in gold. Little wonder his leadership mantra remains ‘Driving the Culture of Excellence’.

Towards ensuring that the general public was kept abreast of happenings in the University on a regular basis, via the social media channels, he created a Digital (online) Section.

In spite of the paucity of funds occasioned by various factors, such as the Treasury Single Account (TSA), national economic recession, and the emergence of the Coronavirus Disease (COVID-19), Prof. F. C. Eze worked tirelessly to ensure the FUTO Community received a face-lift as regards infrastructural development.

Among many essential structures thoroughly renovated amidst the COVID-19 pandemic was the dilapidated Senate Building, which comprises the offices of countless administrative officers of the University, including the Principal Officers. The edifice in question is now obviously wearing an elegant new look.

In the area of human capital development, it is on record that since the inception of FUTO, Prof. Eze’s administration created the highest number of job opportunities for the teeming young Nigerians who had remained jobless for several years.

The welfare and wellbeing of the overall staff were constantly taken as priority despite the harsh economic situation, not until the emergence of the Integrated Personnel Payroll Information System (IPPIS) whereby workers’ salaries and incentives were, and still, directly paid from the Office of the Accountant General.

Acknowledging the essence of competence, the career-minded VC surrounded his administration with respected and competent academics and administrators, including the Heads of Departments, Deans of Studies, Directors of Centers, Coordinators of Units as well as the Principal Officers.

At all times, he ensured that meritocracy supersedes favouritism while recruiting officers or individuals in various vacant positions. He equally involved himself in activities that are devoid of politics.

This could be attested to in the hitch-free rigorous exercise that saw the emergence of Prof. Mrs. Nnenna N. Oti as the 8th Substantive VC of the revered University, whose leadership era graciously commenced on 19th June, 2021.

Lest I forget, under Prof. Eze, countless students and staff of the University won different kinds of laurels in the areas of technology, research, innovation and sports, just to mention but a few, due to the tireless supports and efforts of his administration.

Inter alia, his administration produced a woman who knows her onus as a successor. Prof. Oti’s personality stands tall among that of other great women I have come across in recent times. Her background and antecedents are obviously so overwhelming and intimidating to the delight of all concerned.

It’s worthy of note that the aforementioned numerous feats wouldn’t have been possible if Prof. Eze didn’t maintain a sound and cordial relationship with the 11th Governing Council of the University ably led by Prof. John Offem. It suffices to assert that the Council was pleased to have a man of his type as the FUTO VC and the Chairman of the University Senate.

These and many more outstanding achievements were what informed the decision of the numerous fora to individually put up outstanding reception for Prof. Eze when he was taking a bow as the 7th Substantive VC of FUTO.

It’s thus needless to assert that all and sundry were honouring and celebrating this leader par excellence who indisputably distinguished himself in both academics and humanity.

It is not the best product that wins… It is the best-known product that wins.

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The first reaction to the above statement is usually negative. Most first-time entrepreneurs argue with this statement, and it is the reason they make and repeat a lot of mistakes. They think they need to get the product perfect before launching. They want to tweak and fix every bug before the product ever gets launched.

They believe that in the competitive marketplace, it is the best product that wins the race. They think that if they build the best product, the market will come to them. “Customers know quality,” they say. If I bring the best, they will choose my product among others.

Research tells us that 21.5 percent of startups fail in the first year, 30 percent in the second year, 50 percent in the fifth year, and 70 percent in their 10th year. Keep in mind that some of these startups have awesome solutions that solved a market need. Some had all the funding, as the founders had invested their time, energy, and life savings, expecting their perfect product to become a hit in the market. They expected that just like Google and other search engines, people would look for them to solve their needs every day.

Sorry to burst that bubble or maybe I should call it a myth. It is not the best product that wins. It is the best-known product that wins.

This might not sound real to you, but I want you to take a second look at the assertion. Contrary to what you think about the customer picking the best product available, the customer can only choose the best product he or she knows. Think of it this way. Your customers are like people in a dark room looking for a solution to their problem.

What product do you think will first come to their attention? It is the product that enters the spotlight first. They would go for that product over and over again, and it doesn’t matter if you have a better product. They have no idea what other solutions are there in the darkroom, so they would not even know if the product they have settled for is the worst of the pack.

If you have a good product, one that you have invested so much time, energy, and resources building, I have one piece of advice for you. Get into the spotlight. The customers have to see you first so that they can compare you with other products that they know, and decide on the best. You should be ready to invest as much time and resources in spreading the word about your product. You have to become visible and stay that way.

Formerly, we would think of this as simply advertising. But now, there are other ways to get your brand and product into the spotlight. And in fact, there can’t be such a thing as too much spotlight. Keep putting your product and solution out there until the brand no longer needs an introduction. You want customers to see your logo and say this is ABC brand, even if the name is not written anywhere on it.

Ask yourself this question. If you took a random poll or market survey to find out how much your product has been exposed, what percentage of the market would admit to knowing your product?

Have you noticed that even Google runs ads? One would think that the brand is popular enough as it is, but no. They continue to launch new upgrades, and features and they follow it up with ads. Think of the most popular brands in your location (whether online or offline) and find out if they are still investing in staying in the spotlight. You will find that they are. Some are sponsoring reality TV shows, dance competitions, essay competitions, and the like. Some are partnering with one NGO or the other, driving a social cause. Some are hosting free educational webinars every now and then.

It takes different forms but the whole idea is to remain where your customers and clients can notice you.

As an entrepreneur and startup founder, most of your time needs to be invested in spreading the word about your idea.

The Success Story Of Prof Eze As 7th Substantive FUTO Vice Chancellor

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FUTO is a top technical university in Nigeria

Prof. Francis Chukwuemeka (F.C.) Eze is the immediate past and 7th Substantive Vice-Chancellor (VC) of the revered Federal University of Technology Owerri (FUTO).

He relinquished the mantle of leadership to the incumbent and 8th Substantive VC, Professor Mrs. Nnenna N. Oti on 18th June 2021, having meritoriously served the University for five consecutive years in accordance with the extant law.

Prof. Oti, who is the first female to occupy the highly-exalted position, was announced the 8th Substantive VC by the 11th Governing Council of the University led by Prof. John Offem on Tuesday, 13th April, 2021 after concluding a series of rigorous and transparent processes.

It would interest us to note that the entire FUTO Community was agog precisely on Thursday, March 17, 2016, following the emergence of Prof. Eze as the Seventh Substantive VC of FUTO, as was announced by the 10th Governing Council led by Dr. Emmanuel Enemuo after a series of rigorous interviews conducted among the aspirants made up of various well-celebrated professors.

Consequently, in June 19, 2016, he was successively enthroned as the 7th Substantive VC of FUTO, a position he held till the aforementioned date. Upon his assumption to duty, he passionately initiated a mantra for his administration “Driving the Culture of Excellence” and vowed to uphold its content at all cost.

Owing to his outstanding performance as the FUTO VC during his five-year tenure, various notable fora both in the University and beyond, in their respective capacities, thought it wise to organize resounding receptions for the rare gem and academic Icon.

Prof. Eze, a native of Amanato in Ideato-South LGA of Imo State – who is a professor of Experimental Solid State Physics and Material Science – obtained his first, Master’s and doctorate degrees from the University of Nigeria, Nsukka (UNN), University of Dundee, Scotland and also UNN, respectively.

Down the memory lane, after his Bachelor of Science, he worked as a banker before joining the academia towards actualizing his dream of becoming a distinguished academic and researcher.

In his teaching career, he rose to become a veteran physicist. He has authored and co-authored numerous academic journals, text books and articles, among other countless publications in Industrial Physics. He is the former President of Nigerian Institute of Physics (NIP) Writers’ Series, and also a Fellow of the notable institute.

Prof. F. C. Eze served as a two-time Head of the Department (HOD) of Physics in FUTO, and subsequently became the Dean of the School of Sciences (SOSC), which was later split into two separate faculties namely: School of Physical Sciences (SOPS) and School of Biological Sciences (SOBS) by the University’s Management.

Thereafter, he was recognized as the Director of the Nuclear Energy and Research Centre of the University, a position in which he relentlessly and doggedly showcased the best in him to the envy of his colleagues, both far and near.

Due to his intimidating records and antecedents, in 2013, Prof. Eze was expectedly appointed as the Deputy Vice-Chancellor (DVC) on Administration under the leadership of Prof. C. C. Asiabaka, the Sixth Substantive VC of the University, a post he held till June 2016.

He is a renowned member of various local cum international professional and social societies, and a Christian to the core to the glory of God. As a devout Catholic and one who had distinguished himself in both humanity and science, he was inducted into the Knighthood of the Saint John International (KSJI) many years ago. The soft-spoken and humble professor, who believes in actions rather than words, is happily married with four children.

From the moment he assumed office as the Seventh Substantive VC of FUTO, the elegant and eloquent professor never relented in carrying out his duties passionately despite challenges and what have you. He overtime channeled his leadership prowess to only result-oriented initiatives.

He understood the essence of open-door administration and equally grants anyone a listening ear regardless of the circumstance. This attribute alone makes hundreds of thousands of people attracted to his person while in office.

As an administrator par excellence, he made frantic efforts to distance the FUTO Community from a political clime, by ensuring the required processes were deployed whenever administrative and academic issues/duties were carried out.

Prof. F. C. Eze is indisputably a well-experienced and passion-driven academic and leader. This is why, under his reign, he ensured academic matters were treated as priorities, hence always ready to grant the Student Union an audience each time they called on him with any concern.

His administration equally maintained a cordial relationship with the Alumni body. This is why, under his tenure, the FUTO Alumni Association was able to establish her presence in the University at all times.

The body initiated and completed various capital-intensive projects, ranging from prototype of staff quarters, Award of Scholarships, to the recent establishment of a 33KV Power-Line that ensures steady electricity supply within the shores of the University, among many others.

Continue reading here.

Begin to plan – what if Russia Invades Ukraine and Global VCs pause on Africa?

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When two elephants fight, the grass suffers. If Russia enters Ukraine, and Europe/USA takes actions, markets will move. Check your portfolios because if indeed Russia moves in, the United States will re-adjust its priorities and that will have significant impacts on policies.

If rich people do not feel very “rich” because markets are tanking in America and Europe, family offices will be drained of cash – and if that happens, venture capital funds will not have money to invest at scale. When they do not have funds, the effervescence will go. This invasion or war can affect your next funding, even in Africa.

Begin to plan – what if? What is your burn rate and how will a pause from VCs affect you? Remember: the biggest modern wars are fought in stock exchanges because those ones get into the hearts of the money men, working families (retirements), and indeed EVERYONE.

The Ukraine-Russia crisis is at a pivotal moment. Ukraine accused pro-Russian separatists of attacking a village near the border. In the U.S., meanwhile, Secretary of State Antony Blinken, speaking at the United Nations, made an urgent appeal against an invasion.

For months, the U.S. and its Western allies have watched a steady buildup of Kremlin forces along Ukraine’s border with Russia and Belarus. The increased military presence mimics Russia’s playbook ahead of its 2014 illegal annexation of Crimea, a peninsula on the Black Sea, which sparked international uproar and triggered sanctions against Moscow.

President Joe Biden has warned Russian leader Vladimir Putin of extraordinary and crippling economic sanctions if the Kremlin proceeds with an attack on Ukraine, Russia’s ex-Soviet neighbor.