DD
MM
YYYY

PAGES

DD
MM
YYYY

spot_img

PAGES

Home Blog Page 6547

In 2020, Discover Your Business Mentor

0

Business is not a competition of the smartest guy in class. Yes, that you were academically talented means largely nothing. Business is simply figuring out what markets want and then offering those things at the most optimal points across value, pricing, timing, and service.

Interestingly, it takes the support of people who had experienced what you want to do to provide guidance to unlock great moments. This is where mentorship comes into play. No matter how brilliant you are, to thrive in business, you need a mentor. Without one, you would make mistakes which might have been avoided.

Think about it: Mark Zuckerberg dropped out; Bill Gates dropped out. Nonsense – they did not drop out. They dropped out from academic mentors (professors) into the hands of business mentors (venture capitalists). In this young 2020, discover a business mentor.

I have mine – and he is awesome. Find yours.

Find A Business Mentor, I have Mine.

Nigerian Entrepreneurs: Startup Istanbul 2020? Could Be Your Spotlight

0

Lets bare it out as it should be, the Startup Event Connecting East and the West is Startup Istanbul! It features a whole lot of innovation in the technology industry where you find startups you’ve not even heard of pitch and get mentorship to begin their business.

Startup Istanbul is organized by Etohum, a leading accelerator and seed investor organization in Turkey. Hundreds of entrepreneurs and investors from USA, Europe, and Asia come together under the roof of this event and shared their knowledge and experiences with the participants and proposed new solutions for the further development of the ecosystem.

Just in case you’re wondering what on earth is Etohum, it is the leading startup accelerator and seed investor in Turkey. Every year, Etohum is selecting the most promising startups from thousands of applicants. These teams are trained and mentored for an acceleration period of 3 months. Etohum works with world-class mentors, including advisors from Silicon Valley, the heart of entrepreneurship. Etohum organizes the biggest and most impactful entrepreneurship events in Turkey. Startup Istanbul and Startup Turkey are the two of them.

Startup Istanbul is the biggest final of the year for startups around the region.

Startup Istanbul is the leading startup event that brings together founders, investors and executives in the region. It’s a gathering of the leading startups, internet companies, business angels and venture capitalists connecting East and West.

Who Can Attend Startup Istanbul?

The event is targeted at those who are actively engaged or willing to engage in the startup ecosystem. You can register from here. Startup Istanbul needs various humans operating in their various niche to step forward and put their innovations and company on the global scale.

The event is an exclusive gathering of the leading startups, internet companies, angel investors and venture capitalists from all around the globe. This year, 500 startups, 300 investors and 4000 attendees will come to Istanbul to join the event.

This event is made of networking. Every person you meet can give you inspiring ideas, valuable advice, and opportunities for collaboration. You can find your investor, your mentor or the right startup to join or invest in. The only thing you need is energy and passion for entrepreneurship.

Startup Turkey and Startup Istanbul events are organized by Etohum.

So What Are You Waiting For?

You shouldn’t let anything hold you down. If you have an innovative idea, a startup to scale or need mentoring for your startup, then make way to attend the Startup Istanbul for 2020. You’ll not regret it!

More Reasons why Nigerians are not Inventive

0

I stumbled on the story of a Nigerian doll-maker, Taofick Okoya, the CEO of Queens of Africa, a company that makes Barbie-like dolls that portray the African (specifically Nigerian) populace and culture. I truly marveled at his story, wondering why I hadn’t heard of it before.

Another thing that amazed me about Okoya was what pushed him into going for sometime extra-ordinary, and how he made the business successful. I couldn’t help wondering what he passed through while drafting up plans to start his company; and what people said to him when he brought the product to market. The more I read about him, the more I realised that Taofick Okoya is indeed very courageous to have opened a new goldmine that a lot of Nigerians, and other Africans, will explore.

Mulling over Taofick Okoya and his amazing company brought an important question to my mind. That question is: how many Nigerians today have extra-ordinary ideas like Okoya but are not courageous enough to invent them?

Day in day out we read and listen to articles and posts that advise and motivate people to be creative, innovative and different. But most times, those articles end up in trash cans because we read them and felt they weren’t for us. Yet, we celebrate those that found their niche, even though we are afraid, or unwilling, to search for ours. And we want to do something great but we don’t want to do things differently.

Anyway, there are specific reasons why people hold back from projecting their unique ideas. Beside inadequate education system that does not train Nigerians on how to go about developing their ideas, the following are some other reasons why people don’t try new grounds.

a. Unavailable Market.
A lot of people want ready-made markets. They find it hard clearing the paths for new ones. They know how hard it is to delve into new grounds and are therefore unwilling to face the hard work involved. Besides, they are not sure they will be successful if they try something new.

If you read Okoya’s success story, you will see the challenges he encountered as he started his company. According to him, he didn’t meet the type of market he wanted in Nigeria, so he tried elsewhere and that was how he hit it big. If Okoya had waited for a market to evolve first before going into his business, he wouldn’t have been where he is today.

b. Fear of Being Different
This is true, though it may sound outrageous to those that haven’t experienced it. A lot of people feel more comfortable hiding under the shadows of others and going with the flow. They don’t want to attract attentions to themselves by being different and they don’t want the friction that comes from doing things differently. They just want things to be smooth and “normal”.

A lot of people like this usually have exotic ideas but they’re uncomfortable bringing them out. The problem here is that they may end up selling those wonderful ideas at cheap rates to people that won’t give them credit in any way. They need avenues to bring out and develop these innovations.

c. Fear of Criticism
Nobody wants to be criticised. It takes a lot of maturity to overlook criticisms, especially when they turn insolent. Today’s business world knows the importance of learning from customers and that the best way to do that is through criticism. However, noticing the negative impression created by the term, another word that is less demeaning was coined. That is why the term, “criticism”, is baptised as “feedback” so as to give it a positive outlook.

If Nigerians can be taught of the good side of criticisms/feedbacks, they all will beg for it. But as it is, people and organisations (both in private and public sector) avoid it and do not provide platforms for it. Since Nigerians want to voice out their thoughts for and against individuals, organisations and businesses, they resort to the only open field available – the social media, which could be destructive at times. As such, those with extra-ordinary ideas stay back and try to make sure their innovations are perfect before trying them out.

d. Mockery and Negative Attitudes from People
Mockery isn’t criticism or feedback because it is not constructive at all and it has a different objective – to embarrass and discourage. And as we know, some people do not encourage inventors; rather they make mockery of them. This attitude has discouraged a lot of people from bringing forth something good they have to offer. For instance, when I showed someone the pictures of the dolls made and marketed by Queens of Africa, she laughed and, among other things, said, “What is this one? Who will buy this?” But her countenance changed immediately I told her the dolls’ company is worth billions of dollars.

I couldn’t help imagining the number of people that must have been discouraged as a result of negative reactions from others. It is quite disheartening. But it should be noted that those that mocked the genuine efforts of others are those that felt overwhelmed by what they witnessed but prefer to keep their positive judgements to themselves.

e. Lack of Sponsors
Nigerians have shortage of sponsors and mentors. And the outside world is sceptical of trusting Nigerians because of bad images created by a few. Most start-ups and potential start-ups become discouraged when no one comes forth and offers them seed capital. And some that managed to see those interested in their ideas may lose their prospects because their business proposals were poorly prepared.

This is one major reason trainings and seminars on proposal writing should be organised often.

f. Inferiority Complex
This is quite different from fear of being different, where the person concerned doesn’t want to be in the spotlight for several reasons, one of which is sticking to the social norm. But inferiority complex comes up when the person felt he can never have something worthwhile to offer. People like this continue seeking for reassurance from people around them until they either go ahead with their projects or they drop them.

There is need to create avenues for Nigerians to become inventive. This shouldn’t be left for the government alone, that is, if the government should be involved in the first place. NGOs, Foundations and private individuals can consider taking over this aspect of Nigerian development in order to help our youths.

Don’t Judge Me if You Don’t Know Me

0

For two years now these words were my moral restraint as they kept rising in my head ever since the MC repeatedly sang it in one occasion I attended. They probe my conscience whenever I am about to judge someone. We are all books with distinct personalities as our covers with a content/character that most often betrays the conspicuous. We judge and are judged. We give and take opinions about people. All of these combine to influence our relationships.

Whatever/whoever we spend time on/with, we tend to know more about it/them. At the work place, most employees only know themselves professionally and this most time defines how they relate. I have always known that the best way to know someone is to live with him. Because we don’t always get that opportunity we must seize it when it arises; and this I did when I hung out with some of my colleagues on their invite.

Before the rendezvous on 2019 new year’s eve, I knew peoples’ thoughts about John, not real name, but I never allowed that to influence how I interacted with him because I know better. They said he was inefficient, incompetent, and confused on the job. I was tempted to concur to that because whenever I worked on his files there were always issues that I hardly find in those of others. Even his disposition seem to give credence to the negative conversations. He looked timid and spoke with fear. Always apologising and asking for clemency.

On that night, I saw the real John. He changed to the complete opposite of the Office John. What happened?! He got confirmed. That was the magic. I was bewildered as I watched him with the disciplined focus of a scientist peering through a microscope. He beckoned to the waiter to take our order. He lit a cigarette, pulled in the nicotine saturated gas and puffed it out into the air. This time he was in charge. In expressing his gratitude for our role to see that he was not sacked that was when I knew the cause of his inability to meet his target when he should. He just buried his late father barely three months ago. Coming out from a long period of unemployment with piled up bills on the home front, it was a challenge to focus at work with an impending sack. He missed his Dad due to the bond they shared. ‘I still hear my Dad’s voice on the phone after work asking, “John where are you now.”‘ According to him.

The office was scheduled to close three hours before the usual time but we all stayed behind to attend to only and all of John’s clients. He said, “I came to work today believing it to be my last here. I prayed and told God that His will should be done. I have tried my best.” He was full of praises to God.

Now I can judge him. Those who judged and condemned him before knowing him would be shocked to see a new efficient, competent and composed John with zest. This is what a confirmation with good pay increase and other good benefits can do to a depressed employee. I felt so happy and proud to have played a role in saving someone’s job on the last day of the year. This would not only keep food on his table but increase the quantity and quality. We sent John and his family into year 2020 in celebration. No better way to end the year.

So, before you speak about someone in this new year, try to know why they act that way. In other words, if you don’t know me, don’t judge me.

Have a splendid new year!

Tesla Begins Distribution of its Made-in-China Models

0
Tesla electric car

Tesla has begun to deliver its model 3 cars built in China. The U.S electric automaker said the delivery will take effect December 30, in preparation of full scale sales before the Chinese New Year.

In January, Tesla delved into its first production adventure outside the U.S. soil, building a plant in China. Production started in October with a target of 250, 000 vehicles a year when the Model Y was added to the initial phase.

It has been just a year since the company took the first steps in China, as a result of the government’s relaxation of its 50%+2 rules that opened the window for foreign automakers to establish in China for the first time in many years. The rule has kept foreign investors at bear for years and enabled indigenous growth of car manufacturers.

A statement from Tesla said that the first 15 customers to receive their cars today are the company employees. The Model 3 and Model Y cars are priced at 355, 800 Yuan ($50, 000) before subsidies were granted by the Chinese Government because the cars were produced from Tesla’s factory in Shanghai.

The Shanghai plant became a center of attraction to the locals from inception and the thrill of Tesla electric vehicles spurred overwhelming preorder earlier in the year. The plant also tuned down the intensity of the U.S-China trade war that cuts across many areas of investment with a negative impact.

China has become the world biggest auto market where electric vehicles are thriving. Last year, 1.3 million New-Energy Vehicles (NEV), were sold in the country, and it opened ways for further interests. Tesla is trying to cash in on the huge market by offering special treatment to china.

Apart from the subsidies for the first models of Tesla in the country, the automaker is offering racing events and showroom parties. It is also building service centers and charging stations across China to assure customers of standardized after-sales services, according to a report by Reuters.

The goodwill gesture appears to be mutual between China and Tesla as the Chinese Government has been supportive. The Ministry of Industry and Information Technology, said last week that it has added Tesla Model 3 to a list of new energy vehicles exempt from purchase tax. In August, the Ministry had announced that it has exempted all tesla models from purchase tax.

After the purchase tax exemption, the Model 3 orders spiked and hit around 6, 400. This is because the tax exemption lowered the cost of the vehicles. The lowest-priced standard-range version of that car is about $50, 000 (355, 000 Yuan) but it has been brought down to about $14, 000 (99, 000). The tax exemption is more like a subsidy and it has increased the demand, putting up a demand spike that Tesla has said it wouldn’t be able to meet in a short time.

The automaker said the Shanghai factory won’t be able to make Model 3s in high volumes, which means, producing 1, 000-2, 000 cars per week until mid-2020. Tesla’s CEO Elon Musk highlighted some of the challenges that need to be tackled to meet the current demand.

“We need to bring Shanghai factory online. I think that’s the biggest variable for getting to 500, 000-plus a year. Our car is just very expensive going into china. We’ve got transport costs, we’ve got higher costs of labor here,” he said.

So the possibility of making up the demand in China with cars produced in the U.S has been ruled out due to labor and logistics cost. Tesla is to rely completely on cars produced at the Shanghai factory to satisfy the demand, and that will take some time.

While China remains a promising market for Tesla, the challenge hangs on its capacity to meet the demand of buyers. The tax break is only for made-in-China cars and that has practically ruled out any possibility of shipment from the U.S. due to cost and Chinese trade laws, especially in the face of ongoing trade war with the U.S.

It is not sure how long the purchase tax exemption will be in play, but If the Shanghai factory fails to increase its production capacity before the Ministry of Industry and Information Technology withdraws the tax break, there may be a significant drop in sales for Tesla due to potential increase in the cost of purchase.