The Secrets to be discussed shows why anybody can be successful with the right principle. Black or White, Big or Small, Male or Female, Born Rich or Born Poor, Cursed or Blessed, American or Nigerian or English.

TRUST
The most important character to business success is 'Trust'. Its most important that Energy and Intelligence, possess this two alone can destroy you when you lack integrity according to Warren Buffett. People complain about lacking finance as there challenge in business, but when their character or financial integrity are looked into the microscope they are found wanted.

Trust is your treasure in the marketplace. Can people trust you with there goods? can they trust you with their money? can they trust you with their ideas? Like a scorecard it's hardly forgotten in people's mind.

A recent report why banks devout less than 5% of their loan portfolio to MSMEs is due to 'lack of trust'. Most business financials shows lack of trust from the figures. As we all know in business 'numbers speak', because its a game of numbers.

Let me leave you with Jack Ma's slogan 'Only trustworthy people can get rich'.

Oya! Continue.

Thank you Brandnew.

The economic growth of Nigeria strive well on the backbone of western flock in trade to small and medium business in time past. History has it that western company were looking for business men within the region to do business with or stand as representative. Many big name in business enjoyed such era of business done with a 'hand shake'. Gradually, fraud started germinating in our marketplace, and now its a norm.

We have lost or almost most the credit between large to SMEs or SMEs to SMEs, that has been the growth seed of global trade because of fraud. This bad character has also rob on the face of trustworthy businessmen. Fraud is not a way, its a disease, worse that Ebola. It kills marketplaces fast that any other challenges you can find.

Let me say this, the future of the Nigeria Economy is in the hands of the 17.3 millions MSMEs, only them can meet the various needs. Where there are needs, there you will find a market. But first we must operate in integrity in all dealings.

Brandnew2, do you have any opinion?

Who is to be blamed?

Is it our culture?
Is it our Religion?
Is it the economy reality?
Is it our race?
Is it the Government?
Is it the lack of 'Rule of Law'

Who is to be blamed?

Peter, This is an interesting topic. Trust is a fundamental issue in Business Success. You can only attain great heights when you make Integrity your core value in Business. Integrity spans the length and breadth of any business. Regretably it is a character that we find lacking here in this part of the world. Our environment give honor and praise to individuals who accumulate wealth that have no trace of integrity. Back to your question, i think it is more of a societal problem. There are no systems that checks our level of integrity.
However, for anyone who really wants to succeed in business, please make integrity your watch work. It will propel you to heights you can ever imagine.

Thank you Rodnorth,

Well spoken, but you got me thinking, Is it really a societal problems? We all come from an ethnic group that start from the village settings. Even before the advert of Christianity and Islam, right was right and wrong was wrong despite some barbaric and religious rite. The coming of Christianity and Islam was suppose to strength our societal values, but none the less. The more they tried the more we moved away.

I wouldn't want to blame any factor, but blame MAN, because we choose our part. But I believe we can re-write all wrong with seeing the great opportunities that lay before us if we choose this path.

Let us not blame any further, but understand that although reasons drives us toward doing evil, bear in mind that today could be difficult, tomorrow more difficult, but the day after will surely be beautiful.

BUSINESS MODEL

When the mental character of trust has been cultivated, the next chapter to look into before going into business is your 'Model'. In simple words, what is the shape of your business endeavour. A recap on 'Creation of Man' , the Good book told us that when God was about to create man, HE started with 'Let us make man in our... ' what I believe God was doing was creating the model before creating the physical man. When the physical man appeared, its was like the model and HE said it was 'good'.

We have to learn from the CREATOR, if we must be creators of successful businesses. Without a well planned model, how can you tell five years from now that your business is good. They are your gauge, meter or mission, they remind you every morning what you want to do or why you are going out every morning even if you aren't making money for now.

Businesses without a model are merely built for survival, but not to change the world or solve this numerous problems in our world. We have numerous problems in our society with numerous needs, and where there are needs you will find a market (invariably, more problems more opportunities). But the right business model in hands of a trustworthy business person can individually solve these problems.

Get a pen and paper and define your business model.

Welcome back from Holiday!

We have been discussing on business model. We would like to simplify it further trying to remove every ambiguity.

Ray Kroc went to his bankers when McDonald was looking for funding with a business model of building 'chains of outlet where cheap and quality hamburger are sold', he remained true to his model and today its a multi-billion dollar corporation.

Jack Ma gathered 18 founders and pitched a business model of setting a internet company that 'help small businesses do business easily', that give birth to Alibaba, the world largest online marketplace.

Sam Walton had a model of building 'chains of retail outlets that would save customers money and offer wide selection'. Walmart was born from that model and became the world largest retail outlet.

The world has been drinking coffee before Starbuck was born, but Howard Schultz bought over the company and re branded the model to 'selling variety of brewed coffee in a conducive atmosphere'.

No business model is full proof that is why opportunities abound everywhere. Experience business people understand the need to constantly keep evaluating their business model especially when its successful ( to avoid what happened to kodak and Nokia).

The important of a business model is that it keep you in check of what you are trying to do. Business enterprise are avenue of solving problems or making the world a better place. Businesses without a model or adhesion to a model are just means of survival, which is what we find in over 80% of businesses in Nigeria. The founder connect a pipe straight from the business straight to his personal life rather than a storage tank in which he/she has a limited access.

So how do we make money from all said

Thank you Importerexporter.

Making money is a result of structured knowledge. Let me put it this way 'Marking Money' is a result of a business process as 'Certificate' is a result of an educational process. We believe, if the principle is right the art of making money would be seamless. We would advise you get the principle first, in the course of our publications, we would shear strategies and ideas.

We are in the era of digital economy, what was once in the hands of few is moving into the hands of many. But first, the old paradigm must change, the way we see making money must also change.

Let us all take this, Money is the certificate given to those who engaged in the business process of solving problems, touching lives or changing the world. Pick one and you will see how to make money from it.

Yes Peter,

You are quite correct. The act of making money entails your ability to solve problems. We should not look at money as the end itself, but as a means to an end. The truth is, it is quite diffcult. I must admit, however, a change in the mindset will help to transform your views and opinion about Money.
I was formerlly of the school of thought that Money was the answer to everything, Alas, i was wrong. We need to cultivate the mindset and habit off solving problems. It is only there and then we can make Money, and plenty of it.We need to always ask ourselves questions, challenge status quo. Never believe old adage. These are processes that will help us to engage in problem solving
The first question i ask myself is, what are my views towards any challenge or problem.This helps me to either solve the problem or discover an opportunity, which inturn puts money in my pocket.
Mr. Importerexporter, i want you to look around you, and ask questions, what are the thing that are working well that needs improvement, what are the things around you that aren't right. These pattern of thoughts bring to the fore a new wave of problem solving.
The book toyota way emphasizes on a slogan used in the production of toyota products- it is called the WHY-WHY analysis. It was used by the japanese to get to the nitty gritty of every problem or challenge.
I employ all readers on this platfrom to engage in constructive thinking, as it will help us to identify problems, and slove them, making money to flow into our pockets, thereby making all of us super rich.

Wishing you all a splendid weekend.

onahpeter:
Welcome back from Holiday!

We have been discussing on business model. We would like to simplify it further trying to remove every ambiguity.

Ray Kroc went to his bankers when McDonald was looking for funding with a business model of building 'chains of outlet where cheap and quality hamburger are sold', he remained true to his model and today its a multi-billion dollar corporation.

Jack Ma gathered 18 founders and pitched a business model of setting a internet company that 'help small businesses do business easily', that give birth to Alibaba, the world largest online marketplace.

Sam Walton had a model of building 'chains of retail outlets that would save customers money and offer wide selection'. Walmart was born from that model and became the world largest retail outlet.

The world has been drinking coffee before Starbuck was born, but Howard Schultz bought over the company and re branded the model to 'selling variety of brewed coffee in a conducive atmosphere'.

No business model is full proof that is why opportunities abound everywhere. Experience business people understand the need to constantly keep evaluating their business model especially when its successful ( to avoid what happened to kodak and Nokia).

The important of a business model is that it keep you in check of what you are trying to do. Business enterprise are avenue of solving problems or making the world a better place. Businesses without a model or adhesion to a model are just means of survival, which is what we find in over 80% of businesses in Nigeria. The founder connect a pipe straight from the business straight to his personal life rather than a storage tank in which he/she has a limited access.

Many thanks for this piece OP.

Its high time Nigerians started making use of indigenous companies to drive home their point on business teaching. We operate in a perculiar environment and what works over there might not work in our local environment.

There are many successful businesses locally, kindly do us the honour of highlighting them in your next post.

Thank you dotsdavidson.

But make no mistake about this, strategies may differ in different region and countries but principles are the same. Trust in America, is Trust in Nigeria.

But back to business model. The banking industry is a unique industry that has exhibited models that have differentiated various brand from one another. Before the coming of Standard Trust Bank, we can recall that banking experience lack user friendly approach ranging from inability to withdraw from another location, long queues and ledge banking...But STB saw the need and created a model that solved those concern and swept the middle and lower level customers, which are large but may not control huge part of banking funds. Merger & Acquisition messed up the model (a lesson for another day).

One Bank that has redefined the banking experience and are still doing a great job is Guaranty Trust Bank, they both have this likeness for 'Trust'. They created a model that focus on making financial services easy for customers with deep attention to branding and technology. That's the only bank with long queue, but customers don't seem to switch because of the network effect that effective business model create.

Once again, what is your business model? If you get it right and faithful enough to stay true to your model through time, that's the making of Giants. Let me say this again, no model is full proof, the 'S' curve principle apply to them all, that's why its always important to evaluate your model before you miss the next wave.

My Apologies for foreign examples, we would endeavour to remain local with global perspective.

onahpeter:
Thank you dotsdavidson.

But make no mistake about this, strategies may differ in different region and countries but principles are the same. Trust in America, is Trust in Nigeria.

But back to business model. The banking industry is a unique industry that has exhibited models that have differentiated various brand from one another. Before the coming of Standard Trust Bank, we can recall that banking experience lack user friendly approach ranging from inability to withdraw from another location, long queues and ledge banking...But STB saw the need and created a model that solved those concern and swept the middle and lower level customers, which are large but may not control huge part of banking funds. Merger & Acquisition messed up the model (a lesson for another day).

One Bank that has redefined the banking experience and are still doing a great job is Guaranty Trust Bank, they both have this likeness for 'Trust'. They created a model that focus on making financial services easy for customers with deep attention to branding and technology. That's the only bank with long queue, but customers don't seem to switch because of the network effect that effective business model create.

Once again, what is your business model? If you get it right and faithful enough to stay true to your model through time, that's the making of Giants. Let me say this again, no model is full proof, the 'S' curve principle apply to them all, that's why its always important to evaluate your model before you miss the next wave.

My Apologies for foreign examples, we would endeavour to remain local with global perspective.

Well written my brother. I trust the message will sink in better with these examples. It will give us the confidence that this is achievable since we can identify with it at our doorstep.

We are following!

Thanks Peter, Integrity and trust encapsulates it all. Even the Bible says that he who is not faithful in things that are little cannot be in things that are big

Nice one OP,pls gv us a brief profile of yourself

Thank you Darexkey for your words.

@ Ademat7, I believe my words tells you who I am. I am an Entrepreneur that have found those principles to be trust and more to come. We are practising those principles and have taught some Entrepreneurs, who have entered into different industry with little or no capital, but after some years with resilience are now doing business in 7 digits.

True Life Story
A friend of my (let me call him Tim for the sake of this story) resigned from a N28,000 monthly salary at Delta Steel Company four year ago. The unfortunate thing about the job is not just the low salary, but they owe over three month adding to bad working condition. He has a B.Eng in Mechanical Engineering from Federal institution. After resigning from the job, he decided to go in ICT business (Selling of I.T Hardware) with no fund to start with, against his parent advice (that was an act of love, because they wanted the best for their son). First, he was attaching at a friend's Fiancé office, but set his business model on helping working middle class and corporate client in sourcing I.T products. Challenges stepped in, how to get credit line from suppliers in computer village since he was not know and has no fund. Good marketing skills help him to negotiate some deals that the businesses are funded before delivery either part or full, but the truth is that he lost some because of lack of fund to meet the supply. He always narrated his ordeal to me, l give him the following advice;
1. Streamline your supplier to a few.
2. Concentrate your business to those few so that your presence would be known.
3. Ask for the need to get credit line each time you do business.
4. When given, do not default even in time or date, because bad news travel faster.
5. Look for mentors within your industry (optional).

After four years in the industry, he tells me now that he does business now without his money just on the bases of 'Trust'. He is a living and young example that you can start a business with no fund, but with ideas and strong characters. Please pardon me for not been soon detailed in my story

I am not saying the road will be easy, but those who 'Stay Hungry and Stay foolish' would wear the crown.

Please share your story or those you know on who excel on the[b] strength of character[/b] in business or life. As dotadavidson has advised us, make it local.

Bureaucracy: Our Peril or Strength

This was a system that started from Agrarian era when Kings and nobles set systems to keep their subject in check. The industrial evolution came and the process was transformed but the principle was the same. In the private sector, CEOs are today’s King, Managers are today’s Nobles and workers are the commoners or peasant. In the public sector, the levels or positions are numerous and that is an area I would not like to dwell in.

The world has been moving away from this business structure over 30 years ago, although it worked well for the industrial revolution. But for the information era, its slow, not product focus, create business waste and kill creativity.
My present experience in the telecomm industry got me thinking, as advance as that industry should be, the existing bureaucracy can only be a peril to their creativity. We have been trying over a year to push a service in that industry, the layers will must pass is so frustrating (enough to make you quit). We were fortunate to know a top technical officer in one telecom, but unfortunately the solution is far from his department. On the other telecom, we were also fortunate to read an article on the CEO and contacted the columnist who was magnanimous enough to give us the detail of top officer with the promise not to disclose his identity. But one thing is obvious, because of the Key performance indicator in place, they were mostly afraid to try new ideas. Bureaucratic system encourage individual performance like setting commission, awards, and the like (the ‘I’ syndrome) which are enemy to creativity. In getting the needed foreign technical partner, all we needed was a laptop, internet connect and LinkedIn’s profile and in other cases a telephone call or email from the representative, you are connected to right director or manager.

Today’s business requires a breakdown in business structure and layers by creating and encouraging team structured that would be a bed rock for creativity. The layers from idea conceptualization to launch or approval should be minimal (there should be a system to review and continuously reduce the layers).
Research has it that company with lower structural layers (always behave like startup) enjoys the following benefit;
1. Consisting flow of ideas
2. Team work and faster product launch
3. Happy employee
4. Satisfied customers or partners.

Let us discourage bureaucracies in our work places because the world has left it behind. Practising it when we have a lot of catching up to do is like walking on a 100 meter race with Usain Bolt.

Update coming soon

Ademat7:
Update coming soon

Lol, Faster than you are expecting

DIGITAL ECONOMY

Humanity has experienced three stage of economy era over thousands of years. Firstly, Agarian Era, when Kings, Lords and Nobles controlled the economy over the peasants or commoners as they are called. The second era is called Industrial Era, gave birth to large corporation and massive advancement in the manufacturing of goods and services, the new Kings and Lords are CEOs (Johd D. Rockefeller, Andrew Carnegie, J.P Morgan) and Managers controlling the economy. In this era, the power was in the hands of the few, although not as Kings and subject in the Agarian era, but on economy of supply & demand, economies of scale and other economic principle and market forces. The third era is the Information era, the most peculiar thing about this era is that information which was in the hands of few move to the hands of many, starting from the print media that Marthin Luther King Jr called ‘God grace to humanity’.

In the Information era give birth to Digital Economy through the advent of Internet, which is the first successful platform since the history of mankind to be able to connect billions of people. Therefore, creating limitless opportunity and large market for specialities, professions and ideas. This era changes every industry from media, entertainment, health care, commerce, governance, mentioning a few. The power of each industry is moving from the hands of few to the hands of many. The ‘few’ which are the business leaders are the first to resist this change, they were forced to embrace it or doomed by it ( the first to hit was the printing media, the entertainment industry was lucky enough).
The first era of the digital economy was known as the Net-people. The intenet was a place people socialize (Facebook, twitter, LinkedIn, Eskimi), search for knowledge (Google, Bing, Yahoo), communicate (Yahoo, Gmail), get entertained (Youtube, Netflix, ITunes Stores), purchase or exchange for goods( Amazon, Ebay, Zappos, MartNg, Jumia, Konga, Alibaba). The second era is called the Net-Business, where businesses or institutions are beginning the use the internet as a mean to reduce cost, understand their customers, test or introduce product, build & promote their brand and support their customers after sales.

Benefit of the Digital Economy
Digital economy is no longer an option for any industry, it is either you embracing it or you are doomed by it change. It created opportunities for everybody, nation, profession, race, sex or age. In a nutshell, it made the world flat.
1. Transparency: It’s changing the way we see each other and forcing every company, institution and even Government to be transparency in their dealing. Twitter by the use of tweet has been an effective tool to force institution to be transparency through activism. Institutions are even using it and their website to be transparent in their operations.
2. Sharing: Before the advent of the internet, who could believe we could share so much information about ourselves. We are doing that on social platform and the like. The most important aspect of sharing is ‘shared knowledge’. We would also call the digital economy an era of ‘Networked Intelligence’. Those in the software developing industry are practising it, which has created wonderful expansion in software and application. Every work of life has to embrace it to advance humanity from medicine, architecture, law, business, education and many more.
3. Empowerment: The digital economy has given back power indeed to the people first time in human history. Opportunities is now available to everybody not a few. Also creating the largest market to sell ideas, products or services, and largest knowledge base to access information, training, skills in any endeavour. No race or nation now has supremacy over the other. Now we can say, no excuse for failure, the right tools are in your hands. For example udemy.com, linda.com and many other.
4. Openness: Scholars believe that the digital economy would make Government obsolete but rather it has strength them by forcing them to be open. The people are demanding for change from their Government through internet tools. For example the Tunisian revolt that leads to the North Africa Revolution started from twitter. The last election in Nigeria was a clear display of digital tools in action. Government is still important because of the value of regulation, which looked out in Canadian Banks in the last meltdown. IBM is now giving their intellectual properties and by it making billions of dollars. The openness in Android mobile OS made it robust and wide spread than that of Apple.

A friend of mine is looking for a Technician good in calliberation of Laboratory equipment for an urgent job:
1. Torgue Tester
2. Polariscope

Please call Mr Ugochukwu
Tel: 08064175758

RESILIENCE: THE SEED OF GREATNESS

I have been away for a awhile working on a project that we have been on for up to two years. We have experienced a lot of closed doors and challenges, partners backing out at the last hours. Once interested parties, losing interested at a point we can not pin point and we begin to ask ourselves questions like 'what when wrong'. New ideas comes with a lot of resistance and fear which only few can overcome.

Such challenges can even push you to doubt your dream, you begin to wonder how come only you can see it, is it that they too blind to see or that I am to stupid to admit that it wouldn't work. However, there is a thin line between being stupid and being a genius.

An Entrepreneur must believe so much in his dream but be flexible in his strategies. Consistently forging ahead in the path that lead to his/her destination, but on that path Life would test your conviction and believe, they could stretch to a breaking point to know if you surely believe in the dream. Many can have a dream, but few can live through to the dream.

It took Mandela 27 years to see his dream, it took President Buhari over 12 years to see his dream, it took GTBank over 14 years to see their dream, and if that man stop at 999 times of experiment, we would still be using gas or kerosene lamp by now, but just the next trail came the electric bulb and that man is Thomas Edison.

How bad do you want it?