Few weeks ago, I wrote on 50 ways to save money in Nigeria(http://lightednation.com/2015/08/50-ways-to-save-in-nigeria/); by the way the list is not exhaustive, not by any means. Sound financial management entails not only saving your money; which for me is the beginning but also investing them.

Starting off, I wish I can tell you that the one million naira you have stashed up somewhere as savings in the hands of commercial banks will be worth the same or more in a year time. But it won’t! That’s the harsh reality! The forces of inflation will act on it and erode any paltry interest that your commercial bank may credit to it before descending on your principal. Am I against saving your money in a bank? No; just save an amount that can cover your running costs and have something aside for emergencies.

The value of your savings may be more in nominal terms after a period of time but you stand the risk of having its purchasing power going down. And the longer you leave it there the more its purchasing power (real value) decreases. It’s what every finance person and anyone who has a keen interest in their finance knows. This is called time value of money by economists.

Time value of money simple means that one naira today; 18th September 2015 is more than one naira on 17th September 2016. This is akin to comparing ten thousand naira in 1980 to ten thousand naira today; the latter could have bought you several cars then, while the former can’t even buy you a tyre today. There are no grey lines; you are either making money or you are losing it somehow. Putting your money in a savings account may be one way of losing it albeit gradually. The implication of this is that ultimate saving is investing your money.

I will try to highlight few ways that you can grow your money, but it is important to understand that investing is an act of faith. Because we saying no to the present and yes to the future hoping that our monies will generate returns that would at least guarantee that we would still be able to afford the same cup of garri we are buying for ten naira today if the price rises to twenty naira in the future.

6 ways to grow your money

1. Saving in precious metals. As a gift for getting into Obafemi Awolowo University, mom gave me an 18 carat gold chain. That chain never left my neck; from the ancient city of Ile Ife to the warm tropics of Talata Mafara in Zamafara state where I served in the youth corps, it was my humble companion. While lot of things came and went in my life it remained, until in 2012 when I sold it because my family was in some kind of tricky patch. It went for 15k representing an 88% appreciation in value in six years over 8k mom had paid for it.
Precious metal appreciate in value over time

2. You can almost always not go wrong on real estate; buy some piece of real estate today. You don’t need to have lots of money to start investing here; however that won’t do you any harm. All you need is a good plan and a good real estate agency. You may want to peruse the web for guide on how to buy property in Nigeria.

3. Treasury Bills This is a short term low risk investment that has the full backing of the Federal Government of Nigeria issued at a discount on its redemption price sold at an auction every Wednesday by CBN. The maturity period is usually three or six months
Implication of Treasury bills is that they are not taxed by the government.
The benefits of the Nigerian Treasury Bills
i. Receiving your interest on the investment upfront which you can reinvest in something else.
ii. Since the chances of the Federal Government going bankrupt is quite small, the risk of losing your money is very minimal compared to other investment alternatives.
iii. It could be used as a collateral for borrowing.
iv. It is also tax-free.
Primary market Procedure for investing in treasury bills:
a. An ad, inviting bids for the securities is placed in selected national dailies in advance of the auction.
b. Interested investors obtain and complete application forms through authorized dealers usually banks and discount houses who subsequently submit the tenders.
c. Tenders for the Bills or Certificates are submitted on Mondays, Tuesdays and Wednesdays before 1.30p.m
d. Successful subscribers at the auction pay for their allotment at the price quoted by them. Result of is announced before the close of business on Wednesdays.
e. Allotment letters are issued to successful tenders on Thursday while payment in full for the amount of the successful tender must be made to the CBN not later than 1.30 p.m on the issue date – Thursdays. The accounts of the authorized dealers which must be funded are debited with the cost.

4. Fixed Deposits; is a short investment security that is much like T bills with fixed interest rates. It merely involves lending money to a financial institution usually a bank for a fixed period of time on an earlier agreed interest rate as against T bills which is to the Government. The risk of losing your investment here is higher compared to T bills though still lower compared to some other investments. You simply lose when the lender; the bank in this instance goes bankrupt.
However the interest on this investment is subjected to a with-holding tax of 10% so effectively you are getting 90% of your interest income, while the government coffers swells by the remaining 10%

5. Mutual Funds; A mutual fund is a diversified portfolio of investments owned by investors but managed by administrators of the fund. Much like shares, investors buy some units of the total pool of fund. Mutual funds administrators usually have a catalogue of investment portfolios that matches the risk appetite of the individual investor. A portfolio may have different mix of stocks, bonds, money market instruments etc. When people invest in these funds, they are expressing their faith that the fund administrators will be good stewards of their money, allowing them to use their expertise and experience to pick and trade on different securities and investments. These administrators charge a premium for this service. If you are looking to diversify your investment this is a very good option; in fact the best in my opinion however the challenge lies in picking the right fund administrator.
When you do your search, look out for the average returns/yields they have generated over a period of time. This is the nominal return which is not enough to convince you to part with your money. Look out for the cost of investing which would be their charges, then discount that average rate further by the amount of tax that the tax authorities would take from that interest. The balance is your real interest rate.
Say for instance the average interest rate for the particular portfolio you are considering is about 11%, the charges may be about 3%, leaving you with 8% yield, discount further by 10% of the 8% leaving you with about 7.2%. 7.2% is your real yield not 11%.

6. Peer Investing or Partnering; this an informal form of mutual fund; if you will, that we all must have done at one point or the other in our lives. Its simply entails gathering a pool of funds with someone or people you trust and that trusts you and investing in something as an entity. It can be starting a business, buying real estate, or even investing in any of the six called out above. This way you leverage on the size of new portfolios and invest in something that ordinarily would be beyond your reach as individual investors.

So there you have it; some six ways you can grow your money in Nigeria today. However there are a lot more options out there, please add more, comment and share so that others can also be lighted.

http://lightednation.com/2015/09/6-ways-to-grow-your-money/

erico2k2:

I was responding to waht you wrote and not what you meant as what you meant was not written there. ,ofcos if you decide to open a marine Biz in teh sahara desert then you are on your own there.

Noted. Thanks

erico2k2:

I will disagree with number 1.reasons are.every lo at ion has its type of biz.even the desert and the deep blue sea has its kind of biz.

When I said "Poor Location", i didn't mean poor places, i meant poor location choice for your business!!!

InvertedHammer:

/
Everything you mentioned is secondary.

High cost of doing business is the problem. From registration, bribery, poor infrastructure, levies, taxation to extortion.The government fails to provide enabling environment for business to thrive. Financial conflict resolution is almost nonexistent legally. Two sets of people start businesses in Nigeria: 1). people who have no other options .2) Degenerate gamblers who have play money to risk.

Chance of survival long term is slim.
/

While I agree with you on the issues of high cost of doing business in Nigeria and the Govt failing to provide the enabling environment for start-ups, but I don't agree on your assertion that people who start businesses in Nigeria fall in the two categories you mentioned. For a start the informal sector is the largest employers of labour in the country; they created 71% of all jobs created in the first quarter of 2015. (http://lightednation.com/2015/07/469070-jobs/). People are making it in business today despite the odds. I have friends who while in school started their businesses and have continued even after school and they are doing well.
I believe we should keep encouraging each other to seek these paths; its one of the ways to make Nigeria better.

kehindesis:
Thanks am impress. A lot

Uw

People are going to call Korede Bello an overnight success. Same will be said of his Marvins counterpart Reekado Banks. Why? Because of how quickly they rose to prominence in the Nigerian music scene. But what most don’t know are the years of hustling and practice they have put in and since these things aren’t really documented, its easy to call each an overnight success.
To believe that success is really that fast to come by without putting in the work is to deceive one’s self. However I have seen some factors that might have aided their rise and which anyone can apply to other areas to be an overnight success.

Six tips that can help anyone become an overnight success

1. Standing on shoulders of giants; Korede Bello & Reekado Banks would probably not have made it this far in a short while if there was no Don Jazzy to jazz them up. Same with Justin Bieber if Usher never came around. They stood on the shoulders of mavericks in the mould of Don Jazzy and Usher Raymound to be propelled to levels their efforts alone wouldn’t have gotten them. Actively seek mentors or someone in your areas of endeavor who can propel you faster to your dreams.
2. Building momentum while waiting for your Don Jazzy.
Both were already recording and writing songs way before they met Don Jazzy. These songs were like a reservoir that they called upon to convince Don Jazzy to sign them up. Your blog may not be popular as that of Lindaikeji, but the more you write, the more momentum you build up till people start to take notice. Your business may not be a hit today, but the more you persevere, the more are your chances of hitting a lucky break.
3. Partnering with people who share in your vision
According to Reid Hoffman, LinkedIn co-founder.“The fastest way to change yourself is to hang out with people who are already the way you want to be.” — Reekado Banks was born into a music family as documented by Wikipedia. His brother produced all of his songs before he joined Marvins. Korede Bello had earlier on formed a group with his friend. Share your ideas with and be around people who buy into your vision. They give you support when things get though.
4. Focus; improve your attention span
It’s very easy to lose focus. My mom always advised me to be weary of three things; women (womanizing), alcohol and drugs. Many careers and many wannabe successes have been ruined by these vices. It’s okay to have friends; but only to the extent that they are adding value to your life and not doing the reverse.
5. Time is your most valuable resource; use it well.
The time you are wasting; someone else somewhere is working their butts off on their paths to becoming an overnight success. Run from time wasters. Be frugal with your time; it’s worth so much!
6. Make fun! If it ain’t fun,
it will be difficult to pull through during the storms. Find out what you are comfortable doing and that makes you happy; then do it. However it is also possible to learn to find love in whatever your hands find worthy of doing at any point in time.

http://lightednation.com/2015/09/how-to-be-an-overnight-success/

Ewizard:
Very useful!
Number 5 is wat am facing ryt naw..
I jus realize d best way to get a job done is to do it yaself..
Ve already prepared ma resignation letter..
I gat to run ma biz maself!
Does it mek any sense bin an employer of labour and still b an employee to some freakin bastahdz all in d name of multiple streams of income??

Yeah it does'nt.
Wish you success dear. We need more entrepreneurs like you in Nigeria.

Starting businesses is a dream of every entrepreneur. I and a business partner lost some few thousands shy of one million naira just over a year ago. We had undertaken a venture very optimistic of success. We had done the necessary calculations and we were dead-confident that our high-tech viewing centre at Iyana Ipaja would be a hit.
A year and half later; we were folding up. Months of planning and efforts had been wasted, monies had been blown down the drains, our landlord was already on our tails to either pay up as our rents had expired or uproot the structure we had constructed with the hope that it will stand for 10 years at least; we were in a fix. How did it all go wrong?
I will try to outline some of the reasons why I felt our business and other small businesses failed.

5 Reasons why businesses fail in Nigeria

1. Poor location; its been said over and over again; location is everything! We were swamped on every side by other viewing centres who had been in the business way before ours. Because of the way humans are wired, it’s not always easy for the customers to switch to a new brand, or product. Despite the projectors and other unique value propositions we were offering, we were still not making enough to run the business monthly. Its always good to go to a location where you can have the first mover advantage, we didn’t; we had to compete with businesses that had grown there over time and which people are now used to. I highly recommend the blue ocean strategy for small businesses about to start up. This book talks about the simultaneous pursuit of differentiation and low cost to open up a new market space and create new demand for businesses.

2. Misalignment with your customers; its imperative to define your customers and to align with them. This means seeing what they see, feeling what they feel, hearing what they hear, smelling what they smell; you need to do unto them as they would want to be done to. But we did the opposite; we did unto them as we would want to be done to. We were educated, we were technologically savvy, so we tried to revamp the way people watch matches in that neighbourhood. We provided them with technology at a little premium, when all they wanted was cheaper options. And we failed! Businesses that fail to align with their customer’s needs will eventually produce products and services that no one wants.


3. No staying power; its common knowledge that you may not make much money in the first few years in business; but you need to break even nonetheless. That means making enough money to cover your running costs for the period of time. We didn’t! Some businesses fold when they don’t make profit in the first few years. Just like we did.

4. Inappropriate business planning and execution. Some people get a fantastic idea and they rush off into production without any planning whatsoever. Without understanding their landscape. Without knowing if someone in their chosen market already is into similar business. There just seems to be lots of gap. Small businesses need to have a solid business plan. A good business plan not only helps when trying to secure finances for the business but it also aids in understanding different areas of the business and answering lots of question that that the business would need answers to later on. We at lightednation.com, can help you package a great business plan for your business. However execution is everything, you may have the best ideas, but when if you fail at execution, the idea amounts to nothing

5. Managerial inefficiencies; to run businesses successfully, the owners need to be actively involved. We were’nt, I and my partner were working 9 to 5 jobs. We rarely had time to monitor the proceeding albeit over the phone. What you don’t monitor efficiently you lose track of. We did.

There a lot of other reasons that I have not called out here. Please share and comment to help others get lighted!.

http://lightednation.com/2015/09/why-small-businesses-fail-in-nigeria/

The conditions are never going to be conducive enough to venture out. There are no perfect platforms. There is never going to be a perfect time. The universe will not wait until you are ready, it simply moves on. You need to venture out despite the uncertainty surrounding you and your idea.
In writing this article I stumbled on a song coincidentally titled “What are you waiting for” by Nickelback? The lyrics so were so in line with what I am trying to communicate here. I have since downloaded the song and it has found its way into my favorite playlist.
Here is my favorite part of the song
You gotta go and reach for the top
Believe in every dream that you got
You only living one so tell me?
What are you, what are you waiting for?
You know you gotta give it your all
And don’t you be afraid if you fall
You only living one so tell me?
What are you, what are you waiting for?

Starting a business or any new venture for that matter is really tough, please run from people who tell you otherwise. It goes beyond wishful thinking; it takes risks and sacrifice. Risk of losing everything; it can be that bad sometimes. Working round the clock. etc. But its worth it! So what are you waiting for?

Here are ten tips to help you get in and soldier on.

1. What would you do if you wouldn’t fail? Right off the bat, what is the one thing that you would do if you were insulated from failing? Go ahead and do it. Another way of looking at it is what you would do today if you have got six months to live. You need to have that sense of urgency.
2. Don’t be scared of failure; every businessman or woman, company or economy constantly face the risk of failing. Though it will be unfair to equate the level of risk of failure an established company or business faces to that of a start-up nevertheless it is a constant. It’s like riding a bicycle; you face a greater risk of falling when you are just learning than when you are proficient. Each fall brings you closer to being proficient. So is failure in business and in life. Each time you fail brings you closer to discovering not just how to do things better but also discovering who you truly are.
3. You can always start small; I always preach starting small. Taking things easy on yourself. Not expecting too much.
4. Develop a tough skin to the shame of being called a failure, Here is one of my favorite quotes from Game of thrones and yes am a fan of the series!; “Once you’ve accepted your flaws, no one can use them against you.” ― George R.R. Martin. Gbam!Well said. What are you waiting for. Tyrion Lannister has spoken!
5. Stop listening to naysayers; stay far away from people who only preach negativity. Just because no one has done it before you doesn’t mean you cant.
6. Start following people who are into similar things; Instead of being with naysayers, make friends with people who share your views or who spur you on.
7. You can always do anything… sometimes by paying others to do it for you. Never miss an opportunity because you can’t do it. When someone asks if you can do something, answer in the affirmative, you could always go back to learn that skill or outsource it to someone who knows how to do it. Be smart
8. What would you tell your children if they asked you why u didn’t pursue your dreams? Or how can you guide them when they are faced with similar situations if you don’t have first hand experience?
9. Get proper education. You can go through an apprenticeship program, or you can work for someone for a while. That way you gain valuable experience, and hence avoid some mistakes you would have made if you had ventured into that business without proper education. So take classes, attend seminars, watch videos on youtube. Just learn before you leap.
10. Stop making excuses. No one cares if it rained cats and dogs the whole year, and that’s why you never went to work on your dreams. Or that General Muhammadu Buhari is yet to appoint ministers, and it somehow affected your plans. Question is where is your umbrella or how would Buhari appointing ministers change your outlook? Truth is there are always excuses to give at every turn; the economy does not support start-ups, you don’t have the capital, there are witches in the village, no one makes it where you came from. Etc. Funny thing about excuses is that they become your reality. So think carefully when next you want to give an excuse as to why things aren’t working out. Your excuses define you.

Looking back, these are some of the things that have helped me in starting lightednation. I ask you again; what are you waiting for?

http://lightednation.com/2015/09/what-are-you-waiting-for/

phonesNgadgets:
Wow! Simple acts, but they actually save money

@OP, you forgot to add:

Buy authentic products from phonesNgadgets, and save up to 40% on your cost.

Plus #34 & #42: Invest your savings on original precious metals ( Gold,silver,diamond,pearl etc ) Golds are called 'Barometer of fear' cos they are insurance against inflation. I'm talking of authentic luxury timepieces and jewelry ooo.

Fantastic! Though I would actually invest in Mutual funds over gold. Here is why? Gold is often sought as a refuge during times of financial travail. But gold is largely a rank speculation, for its price is based solely on market expectations. Gold provides no internal rate of return. Unlike stocks and bonds which form part of the mutual fund portfolio, gold provides none of the intrinsic value that is created for stocks by earnings growth and dividend yields, and for bonds by interest payments.

Writing on investing in mutual funds at the moment, so watch www.lightednation.com.

I have decided to share 50 ways to save money in Nigeria today. These 50 tips are really easy to master. Most are common sense. However according to Rene Descartes “Common sense is the most fairly distributed thing in the world, for each one thinks he is so well-endowed with it that even those who are hardest to satisfy in all other matters are not in the habit of desiring more of it than they already have.”

Here are 50 ways to save in Nigeria

1. Make sure that you are getting all that you are entitled to from your employer. That amount you have just spent to get a professional certification may be refundable by your employer. Always ask
2. Learn how to save fuel by clearing the clutter from your car. According to the US Environmental Protection Agency, for every 100 pounds taken out of the vehicle, the fuel economy is increased by 1-2 percent.
3. Don’t buy newspapers as you can always find more current news online and the best part; they are free
4. Stop the caller tunes. Some people have up to 2 or more caller tunes.
5. Unplug your electronics. Unplug small appliances whenever you can. Computers, cell phone chargers, and other electronics often continue to use power — and radiate heat — even when turned off. To simplify, plug items into a power strip that you can use as a master switch.
6. Use MallforAfrica, especially with their one dollar shipping cost per item to Nigeria.
7. Buy fuel in the morning; you stand to save because service stations have their storage tanks buried below ground, and from integrated science; the colder the ground, the denser the gasoline and hence
8. Use LED bulbs and LED TVs
9. Make sure you have complete vehicle particulars and that they are up to date. You don’t want the police, VIO and other officials breathing down your neck. Typical particulars include Vehicle licence, Road Worthiness, Insurance Certificate, and Driver’s licence.
10. Cut down on the drinking, smoking and other vices. They not only save you money, they save you your health and may also save your relationship.
11. Use BBM and WhatApp calls more often
12. When hanging your clothes on the washing line, hang them inside out so the sun doesn’t fade your clothes. You also could hang them out in the evenings when there is less sun.
13. Use google maps when you are driving in routes you don’t know so that you can avoid driving in one-way
14. Consider entering into a “Contribution” with some friends you trust. This can help you save some money monthly.
15. However have plans for the bulk money when it comes in.
16. Google ‘promo code for items or services you are buying online. Did this once when I was signing up for Hostgator subscription for Lightednation and found a promo code that gave me up to 60% discount as against 24% I was initially offered.
17. Don’t give in to impulse buying – wait 24 hours and decode whether it’s something that you really need
18. You may get good deals for clothes and shoes from bend-down-select. But ultimately you may need to mix them up with new ones cloth items.
19. You can travel with a friend to split costs. It’s also more fun.
20. Wash your car yourself.
21. Make sure you have adequate insurance for your assets.
22. Want to buy a new phone; don’t! Swap your old one for it.
23. Sell things you don’t use any more on Olx or better still declutter by giving to an orphanage.
24. Buy a washing machine, cut the dry cleaning costs
25. Cook your meals, avoid fast foods
26. Chose the right call plan.
27. Have a budget
28. Look for a cheap apartment to rent, talk to several agents
29. Use your ATM only at your bank
30. Any side money you get not in your budget should be saved
31. Shop on online platforms, saves you the stress of driving and the makes selection easier
32. Buy foodstuffs and other household daily consumables in bulk
33. Write a list before any shopping and go with the exact money not a penny more
34. Buy quality not quantity
35. Don’t blow your money on caro caro/ baba ijebu
36. Clean or change out your car’s air filter periodically.
37. Go for GoTV instead of its premium brother
38. Book flights well in advance
39. Reduce stress at work, stress may make you spend more.
40. Leave that car sometimes at home and commute to work
41. Always ask people the price range of items before you hit the shops
42. Invest your savings; why? Because your money not invested is subjected to inflation
43. Avoid the temptation of acquiring a pet, and especially that of a dog.
44. Utilize coupons; Jumia and Konga and other all offer different categories of coupons
45. Put off the Generator.
46. Learn how to say no.
47. Don’t try to ‘keep up with the Joneses’. It’s not worth the stress and won’t make you happier in the long run
48. Track your expenses periodically. Keep a spreadsheet or download an App like mint on your phone to track your spending.
49. Drive outside peak hour where possible. Traffic interruptions account for up to 40% of our city fuel consumption.
50. Add your own tips and share!

http://lightednation.com/2015/08/50-ways-to-save-in-nigeria/

Our financial life is but one aspect of our life that we daily have to face up to; it is perennial. It informs a lot of decisions we make in life. In fact it stays with us all through life. Study and become adept in it and live a life of financial peace. Neglect it, and you will find yourself in trouble.

Savings is an important aspect of that life, but some people find it extremely difficult to keep some portion of their income away for the proverbial rainy day. Given the volume of information on the internet on saving, people still struggle with it.

Here are 10 reasons why your saving habit sulks

Not having a budget or having one but not sticking to it. Without a budget it’s really difficult to have a handle on your expenses. Your ability to save is a function of how much of your expenses you can control.
Budget is an estimation of the revenue or income and expenses of a person over a period of time. Not having a budget is akin to going shopping without a list of what you intend spending on.
“Manage your spending by creating and sticking to a budget.”—Alexa Von Tobel

Spending on impulse; this is one of the direct consequence of not having a budget.
“A budget tells us what we can’t afford, but it doesn’t keep us from buying it.”—William Feather

Not keeping track of your expenses; to be able to save for a period of time, you need to know the areas where you can save on. You will be shocked to learn where you are probably blowing away money on when you keep track of your expenses.

Not actively seeking for ways to get passive income; having a passive income can really improve your chances of putting away some money as savings.

Getting into debt; debt is a consequence of spending more than you earn. “Never spend your money before you have it.”—Thomas Jefferson

Least expensive isn’t always cheapest. Don’t always go for the least expensive as they are not always the cheapest options in the long run. Buy quality not quantity.

Bad habits and vices; some vices take away money from your pocket. Vices like smoking drinking excessively,. Try identifying the triggers for such vices and work on eliminating them.

Not staying in shape. Health is wealth. Try staying in shape. Pray, jog, swim, walk, drink more water, eat healthier. “Good health is not something we can buy. However, it can be an extremely valuable savings account. —Anne Wilson Schaef

Not knowing the difference between need and greed. Needs are necessary, greed is wanting more than necessary.
Misunderstanding how savings work. To most people saving is simply the residual after taking out their expenses from their income. Hence their saving is a variable of their expenditure. You would want to start your saving process by having a constant percentage of your income you want to save and constraining your expenses to the residual.
“If you wait to see how much money you have left at the end of the month to put toward savings, the answer may be zero. So, set up an automated monthly transfer from your checking to savings account. Once you lock into that commitment, you’ll be forced to scale back spending to make ends meet. —Suze Orman

http://lightednation.com/2015/08/10-reasons-why-your-saving-habit-sulks/

I unwittingly discovered a note I took in a seminar a year ago on effective customer service. The session was on ten principles of success as taught by Chike Onyia. Chike is an expert in new Hire, new Managers and mentoring programs for organisations. He is also a motivational speaker and an OAP with Rhythm FM co-anchoring Sharing life Issues with Chaz B. This session of the seminar really resonated with me; I was inspired. Even though the note was simply a summary of the key points, I have tried to reproduce that seminar. You can find Chike on his website; zoltslimited.com.

Ten principles of success inspired by Chike Onyia

Passion for excellence
According to Karl J. Newman “We all work better when we can connect our purpose (why we’re doing what we’re doing) with our passion (what we love to do)” Hence you need to align your passion with your purpose.
Excellence means not doing things half-hearted, or being sloppy at what you do. It means doing the extra-ordinary. Going the extra mile to achieve your goals. When you have passion to exceed expectations; you succeed beyond your expectation.

Competency
To succeed, you need to be competent. Competency is built by developing yourself in the following areas;

Subject matter expertise;
Be the go-to person in your field of endeavour. Go-to people are the fixers, everyone turns to them to proffer solutions to difficult tasks. When everyone is panicking, they seem to know what to do, or someone who knows what to do. They are the Michael Jordans of their establishments. You become this person by staying abreast of happenings in your field.

Humility;
This means having a modest or low view of one’s importance. That way you endear yourself to people as no one likes a proud person notwithstanding their level of subject matter expertise.

Discipline;
It takes discipline to be competent. This is the key trait needed to complete and accomplish tasks. The self-disciplined person won’t allow his/her choices to be dictated by impulses or feelings. Instead, they make informed, rational decisions on a daily basis without feeling overly stressed or upset.

Smarter work;
It is not enough to work hard, one need to work smarter too. Am currently reading a book by Shane Snow called Smartcuts. I think everyone should get this book.

Self- confidence
This is a very important aspect of our lives; people who struggle with self-confidence find it difficult to accomplish much in life. In interviews, they are easily intimidated by the presence of other candidates and hence fumble their way through the process. In teams, they feel they are not good enough. Few people will believe in you when you don’t believe in yourself.

Resilience;
Things are not always going to go as planned, sometimes life just rains on your parade. Success is built on layers of frustration, struggle, despair and failure; ask Thomas Edison. You need a strong inner core to navigate these layers. It takes been a stoic or antifragile as coined by Nassim Nicholas Taleb. According to him, “you want to be the fire and want the wind”.
You need to be brutally realistic and have faith that everything will fall in place at the right time.

Integrity
Integrity is the condition or quality of being complete; undivided or unbroken; wholeness. Oprah Winfrey said “Real integrity is doing the right thing, knowing that nobody’s going to know whether you did it or not.” It is staying true to who you are. It means doing what you say you would do. Become known as a person of integrity and you will be on your to success in life.

Emotional Intelligence
Emotional intelligence refers to the ability to perceive, control and evaluate emotions. Daniel Goleman is widely acclaimed today because of his work on emotional intelligence. This entails the perception of emotion, the ability to reason using emotions, the ability to understand emotion and the ability to manage emotions.
We are sometimes self-centred and self-absorbed to the extent that we do not try to understand the emotional realities of others. This leads to fatal mistake in relationship management.

Team work
No one succeeds alone; we all need the help and guidance of others. Little wonder it is one skill every prospective employer tries to test during the interview process. Here are some great quotes on team work
“Alone we can do so little, together we can do so much” –Helen Keller
“None of us is as smart as all of us.” –Ken Blanchard
“Unity is strength . . . when there is teamwork and collaboration, wonderful things can be achieved.”–Mattie Stepanek.

Financial intelligence;
A lot of people are financially illiterate without even knowing. Symptoms of this include not having a budget, not knowing what their net worth at any point in time is. According to Alan Greenspan, “the number one problem in today’s generation and economy is the lack of financial literacy”. I totally agree because if you fail to understand the role of money and how it works, it’s virtually impossible to secure your financial future. Take a personal finance course today. There are a lot of free options on the internet; udemy and coursera are just two of the many. Also check out Gbonjubola Sanni's blog.

Managing your health
Health is wealth! Enough said.

Service to humanity;
In 2014, Warren Buffet donated $2.8 billion to the Bill and Melinda Gates Foundation and several other charities as part of his annual giving pledge. This brought his giving thus far to $23 billion. He is only bettered by Bill Gates who has given $5 billion more. Service to humanity is not only about giving out billions or millions to a cause, but about extending yourself to your neighbours, to the community and the world at large. Oto Orondam founded Slums2schools to transform the society by empowering disadvantaged children to realize their full potential. You join this cause today by going to slumtoschool.org.
Your success isn’t complete until you give back to the society.

Share this post today and also comment if you have been truly inspired.

Source: http://lightednation.com/2015/08/ten-principle-of-success/

This Jobs aggregator pulls job postings from other sites across Nigeria in a simple interface and it loads quite fast. It takes 30 jobs headings in one page hence helping users conserve their data usage.

Check it out here http://lightednation.com/jobs/

On 26th November 2006, Linda Ikeji wrote her first post on Linda Ikeji’s blog. It wasn’t the most inspiring. It wasn’t the most professional. It was simply the start of a journey that even she wouldn’t have had the guts to predict where it would have taken her few years down the line. On the same day Tolu Ogunlese, one of my favorite writers posted an article on his blog omoalagbede..com titled “3 Events: Odia Ofeimun, Abidemi Sanusi and Bernardine Evaristo.” The blog had refreshingly well written articles from his wanderings. He wrote with the flair of an established journalist. The blog had only started on September 2006 and towards the end of 2007, Tolu was closing shop. He went to start a photo blogging site. In June 2009, he started another blog toluogunlesi. which is still active today. He was in July 2015 appointed special assistant to President Muhammadu Buhari for new media.

While Tolu exceled in journalism, his blogs wasn’t that much of a hit. On the other hand, almost every Nigerian youth have Linda Ikeji’s blog bookmarked on their devices. How did she move from her very first uninspiring post to become an icon in Nigeria blogosphere?

Momentum!

Momentum is the strength or force that something has when it is moving
It is also the strength or force that allows something to continue or to grow stronger or faster as time passes

In Physics : it is defined as the property that a moving object has due to its mass and its motion
Therefore the faster an objects travels, the harder it is to stop. This is Isaac Newton’s first law of motion at work: objects in motion tend to stay in motion, unless acted on by external forces.

Momentum is one of the factors that helped propel Lindakeji’s blog from obscurity to prominence. She wasn’t an overnight success. Her success were built on backlogs of posts which became reservoirs over the years. She worked hard to hone her skills and has consistently served to fill up the free times of Nigerian youth with gists on the go; Her site is the ultimate aggregator of gossips in this part of the world.

This post is not about Linda or Tolu, but on how to harness the hidden power of momentum to enhance whatever be your goal.

How to start building momentum today

Love what you do; first of all its really difficult building momentum when you don’t love what you do, you need the love and passion when the going gets tough; because they will. People like Linda just love writing and maybe gossiping. But even when the blog wasn’t raking in any income, her passion drove her on and she kept on building momentum. A lot of people might have told her to use her time for something better at the beginning, but she held on because the passion was stronger than all the criticisms she would ever have received.

Understand what success means, and how to measure it. For Linda, it would probably mean reaching a lot of people and having them comment on her posts. For someone like Tolu it may just mean the freedom to share his thoughts easily and unrestrained to the rest of the world. Know yours so that at any point in time you can guage how close you are to achieving your goals.

Target small wins; A lot of people struggle to meet their goals because they set out chasing the big wins. They want to achieve success overnight. They try too much too soon and soon enough they burn out. And the ventures are jettisoned prematurely. In building momentum you need to target small wins, why? Because they act as spring boards to more bigger wins. But when you chase too many things, when you fail in one, its shatters your focus, but small wins reinforces your belief in yourself. Break your careers goals into small chunks that you can target small wins in.

Be consistent; It was pretty hard to ignore lindaikeji’s blog because you are sure to get new information and gists whenever you visit; she blogs consistently. A lot of people have argued that she simply aggregates news from different news media around the world. But that in itself takes effort and commitment especially in the early days when it seems like an utter waste of time. When you are consistent, you build up a lot of energy so that when an unexpected opportunity presents itself you are ready. Been consistent also means staying on top of happenings in your field of endeavor.

Look for giants on whose shoulders you can climb on. Giants are there to show us what worked and what did not work, and then we ride on their shoulders to new frontiers; thereby building momentum. Instead of starting from scratch we simply start from where they are. Mentors are also giants, they help steer us in the right direction. So if you don’t have a mentor today, look for one who can help further your goals. They give you leverage in achieving your goals.

Never underestimate the power of social media; social media has made it much more easier to connect with people from all over the world. It has also made it easier to share information like never experienced in human history. Use this to your advantage. Network with and follow people who share your philosophy. Being around people who have achieved what you want to achieve shows that it’s possible.

Why wait. Start today to build momentum for that goal.

I very much would like to hear how you are building momentum so that others can also be lighted.

http://lightednation.com/building-momentum-for-success/

It was supposed to be a one hell of a weekend. I had looked forward to this particular trip to Tinapa; a world-class integrated Business and Leisure Resort in Calabar. As the plane’s tyres screeched on the tar marks of Margaret Ekpo International Airport Calabar, all of a sudden I had this foreboding to manage my expectation and not expect too much. Not because I can’t see anything good about Nigeria but because we have a terrible history of not sustaining projects and infrastructure decay. A new government assumes office and all of a sudden old projects are jettisoned and new ones are commissioned to be abandoned or discontinued by the next administration. It’s a never ending cycle.

As the bus pulled into Tinapa, I was tranquilized by the serenity of the resort, with the well aligned trees lining the roads and deafening silence only matched by the hums of the few cars that sped past us; it was perfect. And then it hit me; where are the tourists? Where are the buyers? Where is everyone? I retired to my room at the Lakeview hotel that evening wondering what happened to Tinapa but hoping to see everyone the next day.

The following day I began my tour. My first port of call was the conference centres overlooking the artificial lake which in itself was looked like a stream in the middle of a remote forest. The conference centres were under lock and key, a peep inside showed that the halls have not been put to use for a long period of time as dusts visibly settled on the seats and tables. The inter-locking blocks in the surroundings had slimy brown moulds growing on them; the paints on the wall were all wearing off. Can't help but ask what happened to Tinapa?
what happened to Tinapa

I traced my way from there to the Sea World Arcade where I met a few kids playing various games and the state wasn’t quite different from that in around the conference centre.

I got to the Emporiums passing the locked casino on the way, and found that all of the shops were vacated, except for the few that were either packing out or had few inventories for sale. I spoke to the few shop owners I met, and they all seem to agree that the supply of customers have somehow dried up. Reasons like government not doing enough to customs insistent on collecting duty on shipments were thrown at me.
I even saw two well wrapped up monorail coaches and I guess they would never be unwrapped but would be left to rot away. It was really a show of shame.

What happened to Tinapa?

First of all I just don’t understand the essence of building the 5000 multi-purpose Calabar International Conference Center (CICC) close to Tinapa when the latter has not been fully utilised. Built by Liyel Imoke led government to encourage the patronage of Tinapa Business Resort, it has obviously not done that.

Secondly, the curious case of custom duties, it’s meant to be a trade free zone, which it obviously isn’t from the complaints one hears from the business owners located there.

Then the fact that Calabar ports can’t berth ships bringing goods to Tinapa, as they have to be taken to Onne in Port Harcourt and transported to calabar on road.

There are several other reasons guys, but we really need to start questioning our governments as millions of dollars are rotting away in Tinapa.

More Images...








http://lightednation.com/2015/07/what-happened-to-tinapa/

Ever made a presentation or sent out a report only to realise your date is one year late? Or that some typos have somehow escaped your editing. Or worse you had inadvertently included a chart meant for another presentation. These are just some of the awkward things that could happen which would make you look so incompetent that you stand there cursing yourself as to why you didn’t notice them. Mistakes connotes carelessness in any kind of work, and in the workplace, the stakes are even higher.

How then do you reduce your chances of being in such situations?

It is important to understand that word processing applications offers a lot of flexibility over paper but this is also a drawback in some ways as it creates this notion that reports prepared with this medium are error proof since of course many of us know how to do a spell check. However some errors can never be detected by spell check.

In my opinion, printing your reports or presentation on paper and reviewing them helps identify those errors that your favourite word processor or spreadsheets’ spell check may not identify. After printing your report, get a pen and read through it making notes and comments where necessary. This tweak could you save you the embarrassment of messing up your report with errors.

So next time you are have a presentation or a report to send print it because you’re smart!

http://lightednation.com/2015/07/print-it-because-youre-smart/

With the burgeoning number of apps on the various apps stores, as almost any developer with the right SDK tools and platforms could easily develop an app. It is important to have the right apps, and this comes with having the right information. There has never been a time as now when information is more crucial than ever; after all we are in the information age. According to statista.com there are about four million apps in the world today, with Google play store and Apple store housing eighty percentage of them. Some of these apps have revolutionised the way we work and live.

Below are six of those awesome apps that would enhance your career.

Evernote (Free)

This is perhaps my most important app, I have been using this app since 2013. It has a wonderful interface and is very user friendly. Whatever you upload on your Evernote, be it pictures, notes etc. could be assessed from any other device or computer with an internet connection. You only need to go the website and provide your login details and everything you have uploaded is starring right back at you. I could recall when my phone was stolen on a business trip, I wasn’t worried about all the notes, presentations I have on it because I could still assess them on another device.


Moon+ (Free)

Few weeks ago when I first thought of writing on the 6 awesome apps that would boost your career, I would have sworn that the Mantano reader premium was the best reader there is in the app stores, even though it comes with a price tag. I had been using it for over a year and it has been awesome though it restricted me to only pdf and epub ebooks. Then I decided to see if truly it was really the best out there, so I went online. Lots of ereaders were thrown around; I installed quite a number of them and after using them, Moon+ stands tall over others.

Here is why; it supports a myriad of book formats- .chm, .epub, .fb2, .html, .mobi, .oeb, .pdf, and .txt.

It has a TTS (Text-to-speech) for those times you don’t really feel like reading, but need to read. So it just reads aloud for you; though the female voice may not be the best you have ever heard. But its worth it, especially for your career. You can also sort your books in any other you choose.



Boomerang (Free)

In the words of Chris Cichon, Baydin’s Marketing Mad Scientist; “Boomerang is an extension for Gmail that lets you send emails later, set email reminders, snooze messages, and track emails that you’ve sent”.

This is a great Gmail alternative for a number of reasons. You can schedule when you send messages. Boomerang helps you send emails when you want them to be sent. It also helps you track your messages by sending remainders to your inbox if a message you wanted replied is yet to be as at when you want it. I installed it only recently, and its been an eye-opener. The ability to schedule messages to send later is a major attraction for me. for folks like me who are very active at night and write mostly then; times when you can’t send some kind of mails. I schedule when I want these emails to be sent.



Coursera (Free)

Coursera is an educational platform that seek to enhance your career much like Udemy, it offers courses in a myriad of subjects like finance, management, programming, entrepreneurship, photograph, careers. etc. With this app, one can view these courses on their devices. It basically incorporates videos, course listings, and the courses you’re enrolled in. The great thing about this app; it provides an opportunity for you to learn the courses you have subscribed for in your own pace and time. It also allows you to download the course videos so you can watch them later. And much like Evernote, it syncs with its online counterpart very well. Certificates are also issued after the completion of the classes though subject to getting the required mark in the tests and examinations. All the courses are free with only a few requiring you to pay a token to get a verified certificate.



Flipboard (Free)

Originally an iPad app, but now available for andriod users. It is also on platforms like Kindle and Nook. According to PCMag Flipboard is the best Android news-reading app, it acts like a news and social media hub integrating news from media outlets from around the world and presents it in a magazine format.

The catch for me is the experience of having your favourite news channels, Facebook, Twitter, Instagram, Google+, LinkedIn, Flickr, Tumblr, Youtube or anything else you want to read or watch for that matter on one platform and they can all be flipped like an .epub file.


Duolingo (Free)

Ever wanted to learn a new language to boost your career but don’t know how to go about it? Duolingo is just what you need. It is one of the most popular and well-known tools for learning languages online and to think it’s free. Whew! It supports 9 languages.

Am currently learning French on this great app, copier cette!. The languages are divided into modules, on the completion of one module, you are moved to the next in a sequential order. When new words are introduced, they are done with images representing the words, for example if the French word “garcon” which means “boy” in English is introduced, you will see an image of a boy.
You would also be doing some audio exercises where you need to type what you hear, and say what you hear. That way you start getting the right pronunciations like you are a real class where French is taught.
The greatest catch for me is the identification of your weakness at the completion of every module, you asked to strengthen these. You can redo all of your lessons. It also reminds you to go to class, that’s the only way to keep the owl happy.

In conclusion, these are just few of the many apps that could boost your career, if you have other suggestions, please comment so that others can benefit from your wealth of experience.

Source; www.lightednation.com

Growing up, my parents always had it in their plans for me to have a post graduate degree right after my first degree. However, I wasn’t having that; upon my graduation from the university, i chose to work; I wanted to be independent.

So in 2012 with zero experience and a resume that could only boast of a first degree, I interviewed for a job in my current company. I noticed that some of the folks I was up against already had their MBAs. It was quite intimidating, but it didn’t deter me. After the whole process, about 28 of us were recruited; and only 3 had their MBA.

What happened to the slew of graduates with early MBA I met on the day of the interview?

Before going further, let me say that I have nothing against having an MBA or MSc. As a matter of fact am currently pursuing one with the University of Edinburgh, even though am seriously considering putting it on hold. Basically an MBA is centred on giving you better career prospects through an enriched curriculum and the networks built along the way. It is structured in such a way that the experience will broaden your horizon by exposing you to the major aspects of business; like finance, marketing accounting, organisational behaviour just to mention a few. But I have been asking myself if it’s really worth the hassle so early in one’s career. According to an article on the wall street journal I read some time ago; “The return on investment of going to Harvard or another top-10 business school has remained relatively high, but the return on going to lesser schools is very questionable.”
So in attempting to answer that question I have done a cost benefit analysis.

Pros

Easy adjusting to the workload; because you are fresh from school, it will be a whole lot easier to adjust to the additional workload of pursuing an MBA; you probably don’t have a family and many other obligations.

Networks of professionals; during the period of your MBA you will meet and interact with like-minded people; in fact most curricula are structured around cases and group discussions. Diverse people from different backgrounds and professional careers enriches the experience.

Recruitment; an MBA could just be the extra that will make you more desirable in a pool of job seekers who only have their first degree especially if you graduated with classes of degree other than first class or second class upper division.


Cons


Financial implication; of course this is the most obvious. MBAs both locally and outside the shores of Nigeria are quite expensive these days. And to think that some of these courses could be found online for free. Platforms such as Coursera.org. and its likes provide professional courses on different fields of endeavour taught by world’s renowned professors. Truly the best things in life are free.

Time involved; the average program spans two years. Employers are now more than ever looking for younger graduates to the extent of publishing the ceiling age for prospective employees. The average age today for new intakes is somewhere around 25 years. Accepted that people get admitted into schools at quite early ages, but that early advantage could be cancelled out by incessant strikes especially for those in Nigerian tertiary institutions.

False hope; having an MBA does not guarantee getting work immediately, unless you finished from an ivy league school and research has shown that 97.2% of graduates got jobs three months after graduation. However, I know friends who have an MBA and they are still without a job.

In conclusion…

MBAs are designed for people who have had some experience working or are in business. Some top schools only admit students with at least three to four years of work experience. Admittedly, these days there are fewer and fewer jobs than there than there are graduates, hence its only tempting for fresh graduates to want to have something that gives them an edge over others. However getting an MBA does not give you an advantage if you are sacrificing that for experience.

My take is; get the job, work on the skills necessary to succeed at it. Google can always be of help and most importantly keep learning.

Then after you have worked for some years you can evaluate your career and see if an MBA is what you really need to give you that extra push.

http://lightednation.com/early-mba/

@sassydiva, i got the mail as well.