Business/Entrepreneurship Entrepreneur


There four quarterly periods in a year, meaning a publicly traded company would issue four quarterly reports per year.

Companies and investors alike use fiscal quarters to keep track of their financial results and business developments over time. These quarters are often referred to as Q1, Q2, Q3, and Q4.

Quarters do not always line up with the calendar year. For instance, if a company chooses to have its fiscal year starting in February rather than January, then its first quarter would consist of February, March, and April.

 Companies sometimes choose to do this if they want their fiscal year to end in their peak season. 

Alternatively, since finishing the year often involves a lot of additional accounting work, some companies choose to end their fiscal year on a relatively calm month.

As a start-up or a growing business, a quarterly business review is also necessary, it is not a luxury. The main advantage of quarterly reporting is that it allows you to measure the growth or lapses of your business with a previous quarter or with the same quarter from a previous year.

You can identify factors that contributed to high performance or low performance to improve your stance at the end of the year. To have a true picture of your business’s state of affairs you should avoid the following mistakes;

Set a Meeting Agenda

Meetings without a distinct goal get classified as “pointless” and “unnecessary” by employees.

“Meetings must have a clear purpose beyond a status report, which can be handled very well by one of the many online project management tools that are out on the market,” said Stephen Sheinbaum, founder of Bizfi, a financial technology company, and alternative finance provider. “Make a meeting agenda, and send it to all attendees ahead of time so they know what is expected of them at the meeting.”

Have defined start and end times, and most importantly, have someone to lead the meeting and keep it on track.

Focusing on the problem

It is not uncommon to find people who can uncover underlying issues from the previous quarter. Finding out the problem is okay, finding a solution is good but implementing that solution is what makes great companies.

The purpose of a quarterly business review is for after the meetings and measures must be put in place to ensure that the solutions proffered are implemented.

Focusing on the wrong metrics

The right metrics differ for different businesses, but generally, some metrics to look out for are; sales margin, profit margin, customer retention ratio, social media engagement for e-businesses.

The metrics should be very specific to the business but also general for comparability purposes with “benchmark” companies. If you are building a global brand that should be the focus and even if you are building a local brand excellence should still be the goal.

Inconsistent metrics and method

Small disciplines repeated with consistency every day lead to great achievements gained slowly over time. John C. Maxwell, The 15 Invaluable Laws of Growth

Consistency with metrics with the right metrics is just as important as choosing the right metric. and key performance indicators (KPIs) will give a true picture of the financial position of the business. Inconsistency will hide it.

Remember, what you don’t measure you can’t improve. Did you have a business review for the last quarter?

Business/Entrepreneurship Education eLearning Entrepreneur


Our money habits have a profound effect when it comes to building wealth and getting wealthy. They literally control – sometimes unconsciously, how we operate each and every day.

If you can improve your money habits you will improve your standard of living and spend money on things that are more important to you and to your goals. Below are six money habits that will change your life.


Budgeting is a game changer; it allows you to be resourceful.

Having good money habits is a learning curve and a lot of it is centered around planning. Planning how you spend your money will never go out of style. A good old budget with details of your monthly expenditure and a specific figure will save you.

Remember to keep it simple, to make it too complicated so that it’s easy for you to track. Having a daily, weekly or monthly spending limit will also aid your self-control with money. What are you waiting for, Budget for next month already!


There a ton of apps out there to help you track your spending easily. Some of them are Editor’s choice, mint and expensify.

 Tracking your expense helps you stay in control; it also gives you a helicopter view of your spending pattern and the expense that takes most of your money.

This will help you know what expense to reduce and then provide insight in channeling your resources to more important areas of your life.


Without a doubt your friends and family are important to you. But if you lend money every time you are asked you will end up with no money and a ton of debt.

It fools hardy to lend money to somebody who has no means of paying back. Here’s where credit worthiness is important, drawing the line on borrowing limit if you can’t help it or simply saying no.


You know them, “buy two get one free”. The thing about sales slash it is that you end up spending more money than you think.

It creates an illusion of a good deal but you will most likely end up not using them and then eventually you end up decluttering it all.

Except you are saving up and waiting on a time when the item you want will be sold at a much lower price avoid sales slash to stay within your budget.

Remember it’s all about spending you hard earned money more intentionally.


If you put all your monies in one account, it creates an illusion that you have more money than you actually have. But separating your savings or investment pool from your spending pool will help you spend your money with discretion.

Remember, new habits take time to form and you can’t undo all your bad money habits overtime give yourself a “grace period” and an opportunity to grow into it.

Business/Entrepreneurship eLearning


Social media is powerful as it is influential and if your business has not yet joined in, your business could be missing a lot of opportunities. Data by HubSpot shows that 92% of marketers agree that it has generated exposure for their business with a majority reporting increased traffic, search engine rankings, and sales.

With the rise of social media, starting a business has never been easier. All you have to do is think up a business name and open a new account on the platform you are most familiar with and voila! and you are a small business owner.

But is that all there is to choosing an online home for your business? Apparently not!

More than half of marketers also admitted using social networking sites to develop a loyal following while reducing (traditional) marketing expenses. To build a loyal following that will translate to sales your business must be on the right platform.

Now, let’s run through some important tips for choosing a social media platform for your business.

Identify your target audience.

Identifying your target audience is a key to business success on social media. When you define your ideal customer profile it helps with tailoring your social media marketing strategies to reach your target audience.

You don’t want to expend advertising funds on LinkedIn when you should have put that same energy on Instagram or Twitter to get better resources; since your target audience are young and vibrant.

You don’t have to be everywhere

A lot of businesses feel the need for their business to be on every social media but the contrary, it’s more important to have a focus. If your business has the resource to be on many platforms by all means go for it. but is more effective to focus on the platform(s) used by your target audience.

If your target audience are professionals you are more likely to find them on LinkedIn, if your business has to do with visuals, Instagram will most likely be a platform to concentrate on and this is very relative.

Another important point to note is that when you focus on one social media platform and grow its engagement, the brand reputation will most likely spill over to other platforms and influence its growth easily.

Define your social media objective/goals

So, you have chosen the ideal platform(s) that’s a great fit for your business, and then what?

This is why there has to be a clear goal(s) in mind besides visibility for the brand. Other goals could be to improving customer service and building customer loyalty; creating a channel for customer feedback; updating your customers on new products, services; or deals, increasing traffic to your website; conduct informal market research; creating a sales funnel; and so on.

What’s important is that the goal has to be clear and overall that your business goals are in are in alignment with your business or sales goals.

There you have it! three important tips for choosing a social media platform for your business.

Which social media platform is your business most active on?

Business/Entrepreneurship Entrepreneur


Sales is at the core of every profit-making business and must be treated as such.  The reason for a dip in sales or low sales is not far-fetched. It is traceable. Here are some mistakes you may be  making in sales;

Selling what you like and not needs

It’s great that you love knitting but is that an immediate need in your immediate environment? Is there a ready market for it?

Money making (sales) is directly proportional to creating value and the more value you create the more money you make(sales).

Coming off as too “salesy”

You have probably heard this so many times and I will tell you again, “NOBODY LIKES TO BE SOLD”. Most people like to feel in control of their buying decision rather than feel coerced into buying.

A better approach is to influence their buying. Hence the rise in the use of influencers by brands, both local and global. This use of influencers will create a desire, need, or a sense of urgency to purchase that item.

However, it is important to note that building trust is directly proportional to sales therefore people are more likely to buy things from people they trust.

People trust influencers and so are more likely to trust your brand. Find more information on the use of influencers for both small and global brands here.

Trying to sell to everyone.

Everyone is not your customer except you are selling water and even at that there are different markets for drinking water, sachet water, bottled water, sparkling water and a host of other diverse classifications for different target markets.

 A rich person is more likely to get sparkling water or bottled water and trying to sell him sachet water would be as futile as trying to fill a basket with water because it is beneath his standard of living. Do you get the drift?

In the same vein, it is important to first identify your target market and ensure that you are expending your advertising and marketing on the right platform and to the right people.

Drawing up an ideal client profile or avatar would help guide you to manage your business resources and in essence improve sales.

Proper follow – up

It is not enough to put all your resources in advertising and promoting your product or service.

It is also important to properly and immediately follow up on clients who have made enquires or clients who have shopped your products or engaged your services to get good reviews and in the same vein generate referrals that would be long-term clients.

It is also important to follow up on old-clientele to know their itch-cycle and sell them the product or service exactly when they need it.  

Also, it is a short-sighted approach to ignore your present clientele and chase new clients because milking your current clientele Is a cheaper and easier strategy to generate more sales.

You will probably make more sales than you are making now If you push a little more with follow-up strategies to close sales.

Bad closing approach

Closing sales is fast becoming a core skill, it is in high demand because it is so delicate and important in improving sales. it is arguably where the most sales mistakes are made.

There’s no one way to close sales, there are different techniques to closing sales, which we will address in a different blog post.

However, it is important to note that in closing sales, it is important to be sensitive to the customer needs and do more listening rather than talking.

Ask the right question to address the concerns in the mind of the prospective client, this would take away the obstacles in sales.

Which of these sales mistakes have you been making? What do you plan to do differently? Let us know!



2020 was an incredibly interesting year in investment and a volatile one for the stock markets. The global pandemic made the investment space more dynamic. 2020 certainly took us on a wild ride but there is a lot we can learn from this memorable year in the markets. Below are a handful of lessons from 2020

Don’t take the media’s word for it

People often felt the need to be abreast of all the latest financial news. With news of the price of shares crashing in the stock market it created a lot of anxiety around. However, listening to the financial media can hinder your ultimate goal. The media’s job is to sell advertising, not to help you reach your financial goals.

Even if all the downturns and uncertainty drive you crazy, step away from the sensationalist news. The number one predictor of long-term investment success is investment behavior, so teach yourself the discipline not to act on every little thing you hear on the news. Turn off your notifications and guard your time instead.

Don’t react to downturns

The market is not static so it is important to note that there will be both upward and downward turns and. this leads us to the next

Always think long term

You don’t become Warren Buffet by investing only in the short term. Time is a huge factor in investment and it should never be downplayed.  Invest in companies with healthy going concern and sit back and time take its course as you monitor your investment.

Knowledge is important

Investing requires specialized knowledge about finance and different types of asset classes. Experience is also very important in investing, as an investor who has seen a number of economic cycles can, in general, navigate different types of situations better than a novice investor.

Benjamin Franklin nailed it: “An investment in knowledge pays the best interest.” It certainly does.

Also don’t invest in what you don’t not understand. Read it up, get all the information you can get before you take on that investment risk. If the return on investment is unbelievable then it most likely is.

Take risk calculated

 Making decisions based on emotions is extremely dangerous especially when it comes to investments. Some investors are high risk investors while others are low risk investors. But the truth is there is no investment without risk, it all just depends on your risk appetite and the higher the risk the higher the reward. The risk of the investment may be high or low but it must be calculated.

Don’t let FOMO get the best of you.

There will always be a new craze or a new trend but when you understand your motive and think about the impact of your investment on your financial plan it will guide you. Don’t let it derail your long-term strategy.

It’s bitcoin now but you want to be sure that you understand it before you jump on it and not just because it works for other people.  Also crosscheck the alignment of your investment plans with that investment platform before you jump in

Always have emergency funds

Investing is a rewarding venture but you must prepare ahead for unforeseen circumstances that may be outside your control. Eventualities such as the advent of the 2020 Covid’19 pandemic.

Emergency funds should not be invested in the long term because eventualities can not be predicted and you don’t want to be left high and dry when you need money to cover unexpected expenses. What’s worse than having to beg and borrow when you have a lot of money locked up somewhere?

What were your major take outs from this post? Let us know!

Business/Entrepreneurship Entrepreneur


The year 2020 was a year replete with business lessons as it was a tough year for businesses.

We saw both global businesses including mom and pop shops go through the rut and out, with some businesses barely surviving and others having to close operations completely. It felt like 10 years compressed into one.

It’s dire to take stock of the actions and strategies implemented by the resilient business that survived as well as those businesses that failed to chart a new course for the coming years.

The following are the top business lessons from 2020 that every business must put in focus going forward.

Embracing Technology

The pandemic resulted in the cancellation of events, that affected a lot of lives, jobs, and businesses. We saw remote working and virtual events become the new normal. People and businesses that had formally not embraced technology were forced to.

Hence, the rise in the use of platforms such as Google meet, zoom, and many others. If there’s only one winner from the coronavirus pandemic, it will have to be Zoom Video Communications, the once-obscure enterprise software maker that turned into a life essential almost overnight.

In the first three months of 2020, daily use of Zoom’s video conferencing software jumped 20-fold, according to company founder and CEO Eric Yuan, as people turned to the app to work, learn and socialize during the quarantine.

In its latest fiscal year ended January 31, the company posted an 88 percent year-over-year jump in revenue (to $622.7 million) and a profit of $25.3 million, a rare milestone for a nine-year-old startup.

The pandemic has accelerated the shift to digital! Only businesses willing to embrace technology will remain relevant.  Will you rather go digital or rut?

The importance industry of connections

More than ever it has become important for the business to have support from peer businesses, the government, and the public. This would e determined by the series of connections made and preserved by the business.

Particularly the connection made by the business in terms of value creation especially for its target market.

This would ensure the going concern of the business because the business that creates value by solving a problem has a higher probability of thriving, ceteris paribus.

Do you relate with peers and key players in your industry? Does your business create value?

The importance of structure and planning for decision making

The importance of structure in business cannot be overemphasized and this structure must cut through systems and processes in business, including the decision-making process of the business.

Planning shows proactiveness and this is a critical skill for business survival. The ability to foresee the future through figures and to plan accordingly for business success. Business success is not a happenstance, it is a series of calculated moves based on structure and planning.

Of course, there are times when a business must change its course upon eventualities outside its control such as COVID. This is why every entity must make flexibility a core part of its business plans.

Embracing Creativity and Innovation.

As with the common saying “either you innovate or you die”. Innovation is the bedrock of entrepreneurship and it must be treated as such.

AppleAlphabetAmazonMicrosoft, and Samsung, are considered the five most innovative companies, according to BCG’s analysis of the 50 most innovative companies of 2020.  The research team found every company in the survey was quickly adapting to changing supply chains, customer demand, and modifying manufacturing processes.

These top companies are invested in research and development. To innovate a business must invest in its research and development to improve its product offerings, service, processes, and systems.

The importance of a Customer-Centric business

The customer is the reason why a business is in business. This must not be downplayed and must stay at the core business operations and strategy.  If your business revenue has not seen notable changes in recent times this could be the reason why. Focus on their pain points and milk it!

Were these business lessons helpful? Let us know!

Business/Entrepreneurship Education eLearning


The end of year sales is a good time to clear stock from the last season to make way for the new. The fourth quarter is full of holidays and as a business, you need to be able to leverage them. It is a short quarter and you need to hustle from the get-go.

Set a goal

Before you create a marketing campaign for the end of year sale, you need to decide what you want to achieve and the results you want to get in the end. The goal must be SMART, it must be specific, measurable, attainable, timely, and relevant.

Also, it is about informing your customers about what hours your business is going to be closed and what days your company will be shipping or not shipping items

Existing customers

This is the time to really dial in on existing customers. Frequent conversation with existing customers is vital for the smooth running of this. Understanding their hours of operation or availability, what they are going to be doing is key to serving them. Contact existing customers, ask what their game plan is for the next year.


Referrals close quickly and referrals in the 4th quarter should take up more value, more priority because customers want to make decisions fasters. Prospective clients are going to place more value on that. It just works.

Build Inventory

Knowing how much inventory you have in stock as well as how much inventory the customer has will help the customers maximize their additional inventory and for some, it might be ordering additional quantity. Build up customer inventory.

Competitive Weakness

Competition isn’t only in prices but also in strategies. Keeping business open when competitors are closed is a very easy way to gain customers. Also differentiating your business from the competition is pertinent particularly in value creation and most businesses are more

Calendar planning

Look to get insight into what your client is doing next year, it puts you in a strategic position to serve their supply chain in the current year and the next. Also, in planning the calendar for the festive taking options off the table and making it easier for them to make the decision could be a better strategy than giving them a wide range of options to select from.

Pre-qualify the customer

If there’s something that needs to be set up, get it set up. Decide if the offers will be open to everyone or if they will be based on an eligibility criterion. If it will be based on a criterion you must be crystal clear about them.

Credit Terms

Changing the discount and extending the payment days are both strategies that can help improve end of the year sales

Before offering credit terms on huge purchases, you must have an assurance of the creditworthiness and financial position of customers willing to take up the offer. work with your finance personnel or department in this regard is very key in working with your limits.

Old customer

There’s always more business that you can get from old customers. Reach out to old customers and intimate them about the offers and discounts available to them. It just might be the push they need to make that sale.


Upselling is a sales technique where a seller invites the customer to purchase more expensive items, upgrades, or other add-ons to generate more revenue. It may be selling them more quantity or additional items but whatever it is, upsell is the easiest way to increase the size of the order.

Follow up

The offers and discounts are sure to attract them or leave them drooling but to close the sale you must follow up on every call or message, answer every question and push to close.

From the above-stated points, it’s obvious that there are multiple ways of improving the revenue figures at the end of the year, and only the right strategies that suit the business model should be implemented.

Business/Entrepreneurship Entrepreneur


It is no longer news that business in the 21st Century is all about meeting needs. With time, we have seen that business without solving a specific problem is only another failed venture waiting to happen.

However, some others that are centred on meeting some well-defined needs have suffered the same fate for just one reason -failing to keep their clients at the centre of the business. This just goes on to further establish the age-long saying that the customer is king!

A king’s bidding must be always done to remain safe in the city, hence the need for occasional and I dare say regular feedback from the clients. The business exists to serve them anyway.

Many try to get accurate feedback from clients, however, there is a “how” to get it right. For this reason, we’ve put together our 5 power tips to get accurate feedback from Clients.

Get the Why Right

Despite the importance of getting feedback from clients, it should never be one of those exercises that are done just to join the bandwagon or to feel cool. Your purpose for engaging your clients should be clearly defined from the start and this will inform everything about the process.

Find the Best Medium for your Clientele

It is highly unlikely to get youngsters to fill two to three pages of straight questions. Nobody has that luxury of time. Make sure that you consider the crop of people that make up your clientele before choosing your method of receiving feedback.

Provide a bit of Context.

Hi Client, we are looking to get better with our delivery process in the coming quarter, kindly fill this survey to help us serve you better.”

I bet that this kind of introduction will offer better chances of getting truthful, honest, and intentional feedback from your clients. Provide some context to the purpose of the feedback and you are sure going to get better replies.

Take Care of your Records

Some organizations are known to ask for feedback they never use. Filling out surveys or sending feedback emails to such organizations is tantamount to a waste of time. No one wants to engage in that. You must let your clients know that you care about their views.

Everybody wants to feel loved in this complex world of ours, asking how to serve your clients better and implementing it portrays nothing but love and care for them. In summary, be known for implementing feedback.

Maximize Social Media

With the advent of social media is the increase in freedom of speech. A lot of people take solace in the different platforms to voice their displeasure or approval for a particular cause.

Pay attention to your clients’ comments about what you offer. You will be saving yourself a lot of stress if you do. It is also a good idea to acknowledge them, whether positive or negative. This has numerous impacts on your brand as a whole and should not be joked with.

Finally,to stay in business, your clients need to be given first place, know this, and know success. Maximize various platforms to receive feedback and get those monies coming in.

Business/Entrepreneurship Education Entrepreneur


No matter how philanthropic you are, the realities of running a business will jolt you into the reality that in business, profits must be made. Besides maximizing resources and some other tips to profit greatly in business, proper pricing is one, if not the biggest deal in maximizing profits.

Pricing involves putting the accurate monetary value on your products or services. Contrary to popular opinion, both extremes of pricing bring on negative effects to the brand or business.

An overpriced good will eventually be bought by the producer and his family while an underpriced good will raise nothing but doubt in the heart of potential buyers. So, it is highly essential to get the pricing right. Here are some factors to consider in pricing your products;


One important thing that determines pricing is the target market, the market segment your product or service caters to. A good understanding of your clients, their pain points, and possible financial situations are getting half of the job done. A “supposed” luxury product that is shabbily priced or produced is definitely on its way to doom.


Next to the target market is factoring in every cost of production. Service-based businesses are more likely to fall into the error of wrong pricing owing to this. The fact that a skill comes easily gives no right to be priced inappropriately. Ensure that the material costs, labour costs, and overhead costs are properly considered before pricing.

Also, weighing the value of your product or service offers concerning the price tag is as important as staying in business. This exercise is one that requires a high level of objectivity which must be acquired at any cost possible. 


Business is all about giving and receiving value and that should inform every move. If the value and experience you offer is a far cry from the price tag, it definitely will not do well in the market and if it does by chance, the success is definitely not sustainable.


Studying the market and competition is also very important. Humans are generally products of influences, so is everything associated with serving them. Even in cases where your product or service is the leading voice in the market, having a proper view of the market and possible competition will help inadequate positioning for proper sales.

Furthermore, listening to the customer’s view cannot be overemphasized. After all, they are the ones who will purchase the offerings. Having their opinions about your pricing is highly essential.


Finally, it is good practice to watch the sales behaviour from previous price changes. It is wisdom to put things in proper perspective using the instrumentality of retrospection. Looking back at the customer behaviour from previous price changes can help to make accurate conclusions on price changes.

At the core of every business is satisfying needs and making profits, those two should work hand in hand.

Business/Entrepreneurship Education eLearning


Resources will always be needed in running a successful venture. This can be gotten via grants or investments – either way, you will be required to write proposals or pitches that clearly describe your brand and all you hope to accomplish. Below are 7 guidelines for writing successful proposals –

Storytelling is key

You must be able to show what you plan to do using easy to understand stories. You must also be willing to tell your brand or Organization’s story in a very compelling fashion.

Whoever is reviewing it should be able to grasp the service you’re providing and how the grant would be beneficial. Be very clear about what the proposal says.

Don’t fight the numbers

You need to use the numbers, scratch that, you need to use the right numbers! With the right statistics, you can easily convince anyone about the viability of your product or idea.

Do so easily with numbers and write it in a way that can be easily understood. For example, which of these two statements are easier to grasp?

In two months, $18bn from 37 states were stolen due to corrupt practices by state governments.

In two months, 20 Tertiary universities, 37 Primary schools, 37 Primary Health Care centres could have been built if $18bn wasn’t stolen by state governments.

No lies

Investors, donors, especially the serious ones who want results for their monies can spot when what is being pitched is certainly a fluke. Also, avoid using words or statements like “this technology is the best way to optimize your data”.

That’s a lie! It’s not the best, “Xi Chi” in Tokyo is probably doing a lot better. And both you and the investors know it. Don’t say things you can’t achieve just to impress the recipient.

Well thought-out product

Your product certainly has to be well thought out – many times, some people assume they can get by with doing a sloppy job. Think through your idea very well and get others to look at it with fresh eyes.

Ensure it makes business sense before sending off for an application. The last thing you want is to be blacklisted as an unserious fellow or organisation.

Don’t take rejection personally

Failure or rejection is part of the game, embrace it and be prepared for it – the truth is, your idea won’t be the best all the time and you must be willing to accept this fact wholeheartedly.

Some other times, you simply didn’t write clearly enough to convince the investors or your numbers don’t make business sense.

Either way, you want get all positive feedback from all the opportunities you applied for. Take that to the bank.

Your books are important 

Sometimes, what cuts some people out of opportunities is the absence of good financial records. No matter how small you are as a business, keep good records. Excel, Quickbook etc are pretty great Apps to take stock of what’s happening in your business.

Why this is vital is simply because they wouldn’t want to trust you with N100m if they are not convinced you had previously managed N10m successfully.

Start early

Avoid the rush hour, don’t wait for the last minute, prepare in good time for your proposal. Don’t start a few days to closure except under peculiar circumstances. Take your time to put your best foot forward and it would pay off.

I hope you found this useful.

Keep making impact, keep telling the stories of the good work being done, and make some money while doing so.