THINK LOCAL, ACT GLOBAL by Temitope Adewoye

A few days ago, a couple of friends were discussing about the economic situation of my country Nigeria. Someone asked a question; how can we build products and services indigenous to us and make them internationally acceptable

The question got me thinking

  1. What products are indigenous to us?
  2. How do we improve on them
  3. What are the processes involved in making them globally acceptable?

Well I decided to share my thoughts with you guys and brainstorm together

The famous football clubs Real Madrid and Manchester United are phenomenally successful and wealthy football teams not by eschewing their locale but by emphasizing it.

Emma Bridgewater ceramics is fashionable and pricey because it is still made by hand in the historic home of British pottery, Stoke-On-Trent

Italian fashion maintains its luster and its margins not by outsourcing manufacturing to china but by using and showcasing local textiles and intricate handiwork.

By nurturing and articulating local roots these guys have built successful brands. Please share your thought on this.

START by Kehinde Olagbenjo

I was very surprised this morning when a guy selling bread at the road side asked my brother to accompany him to the car dealership in other to buy an 18 seater Bus! I was also informed that the same guy had built a house, was married with three kids.

This guy graduated many years ago, searched for jobs and could not gain employment. In other to survive he was determined to get engaged in menial jobs. He began to sell bread at the T-Junction of a major road in Lagos. Today he is financially stable, doing better than most graduates in paid employment.

A lot of young people are unemployed as a result of laziness and pride. They are not willing to get their hands dirty and do the required hard work like the rich do. There is dignity in labour even in carrying out menial jobs. Creativity would differentiate you from the other person doing same;all you need is packaging.

If you must make money, be ready to work hard, money should not be your priority in the first place, providing a service that gives value should be topmost on your list. Don’t be deceived by your degree there are a lot of graduates who are jobless and broke. Find something doing.
Someone earning Ten thousand Naira  monthly is better than someone hoping to earn Two Hundred Thousand Naira monthly. The journey of a thousand miles begins with a step.

Start something today

BUSINESS MANAGEMENT CONFERENCE 2012 by Temitope Adewoye

There’s an ongoing revolution in Nigeria right now, young people all over the country, are organizing themselves, developing roadmaps and solutions to problems, taking responsibility for their future. The Business management Conference 2012 which took place this weekend at the Farm Centre, Ministry of Agriculture& Cooperatives, Oko Oba, Agege, Lagos is one of such youth platforms aimed at preparing participants for the demands of the 21st century workplace, igniting the spirit of entrepreneurship and encouraging startup businesses in Nigeria. The conference was organized by these young Nigerians; Asenime Gregory, Abiodun Dominic, Ojeyinka Tolulope, Araba Steve and Airhunuoje Micheal

The facilitators of the various group sessions included; Frank Osodi of House of Bunor Crezioni,  Funke Bucnor-Obruthe of ZAPPHAIRE EVENTS, Bunmi Davies of Afrotainment and Tayo Olosunde; principal partner of E-Green Limited(an Enterprise Sustainability Human capital and corporate Social Investment Management Firm).

Tayo Olosunde (E-Green services) facilitated the first session spoke on Branding: In this session, the topic of Brand Management was strategically looked into to position participants for entrepreneurial success.

Mr. Aderinwale Ayodele (Executive Director, Africa Leadership Forum) facilitated the second session; he spoke on the Mind of an entrepreneur:

 Frank Osodi (House of Bunor) facilitated the session on fashion
Tosin Babajide (Broad Vision) facilated the Waste recycling session; participants interested in the waste recycling business, were given hands on practical advice on how to start and run the business

Bunmi Davies (Afrotainment) facilitated the session on media and showbiz; Participants whose interest lies in the media/entertainment industry received apt mentorship from one of the nation’s leading media brand thus positioning them for a successful media business venture

Johnson Abbaly (Achievers consortium) facilitated the session on management for startups

Prof. Abby Awosika-Fapetu (Executive Director, OASIS Education) facilitated thesession on financial management for startups during the session; participants irrespective of line of chosen trade were given practical and insightful tips on how to go about accessing and managing funds for their entrepreneurial endeavours.

Connect with BMC:

Telephone Numbers: 08051787296, 08181059411

Email address: info@bmc.org.ng

Website: www.bmc.org.ng

The following are pictures from the event:

 

 

 

 

 

 

Tayo Olosunde giving a session on Branding

 

 

 

 

 

 

Tayo Olosunde receiving a plaque from the organizers

 

 

 

 

 

 

 

Cross session of participants.

 

 

 

 

 

 

 

Participants taking notes.

 

 

 

 

 

 

 

 

The organizers.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Abiodun Odunugha and I

 

 

 

 

 

 

Tayo Elegbede and I

HOW TO REGISTER YOUR BUSINESS NAME BY Temitope Adewoye

 

Have you ever considered having your own business? If you have a good place to start is by registering your business name. If you own a start up please do well to register your business name with the Corporate Affairs Commission (“C.A.C.”).

The C.A.C is responsible for the formation and management of companies in Nigeria. The commission is empowered to handle all issues associated with company registration, business names and incorporated trustees in Nigeria.

In order to be legally smart as a business owner you need to register your business name as this action would give people great confidence to do business with you.

Before coming up with a business name, consider the following statutory requirements:

  • The names should not be similar to any business or trademark registered in Nigeria. e.g Mike Lawanson Ventures
  • The name should not contain words like ‘National’ ‘Government’ ‘State’ ‘Co-operative’ etc.
  • To use the word ‘Consulting’ you would need to provide the commission evidence of relevant professional qualification; thus avoid the using the word if you don’t have such qualifications.

Please note that the C.A.C.     has the right to disapprove your business name if someone else has registered that same name thus you need to have three alternate names, until your business name is approved you can’t proceed to the next stage.

Once you get a go ahead then you would be able to register your business name;

The following are the requirements for the business registration form:

  • The approved business name
  • The business address
  • The name of the sole proprietor or partners
  • The address of the owners
  • Two passport photographs of the owners
  • General nature of the business

The C.A.C. requires that you state what your business is all about. You have to state at least one thing. The maximum is three. It is up to you to find an object that best describes your business is about.

The following are the objects allowed by the C.A.C.;

  1. Advertising/Public Relations
  2. Agricultural Produce
  3. Agricultural Tools, Machines and Allied Products.
  4. Alternative Medical practice
  5. Aluminum Manufacturing
  6. Architects/Town Planners
  7. Auto Dealers
  8. Auto Mechanics and Rewiring Services
  9. Auto Spare Parts Dealers
  10. Bakery and Fast Foods
  11. Beauty Industry (Salon, Pedicure, Manicure, Barbing ETC)
  12. Bookshops/Stationery Stores
  13. Car Washing Services
  14. Carpentry/Wood works
  15. Chattered Secretaries
  16. Commission Agents
  17. Computer Training, Sales and Services
  18. Cosmetic Manufacturers/Dealers
  19. Day Care Center
  20. 20. Dealers and Distributors
  21. 21. Electrical/Electronic Equipments Dealers
  22. Entertainment Industry/Events Managers
  23. Estate Agency/Maintenance
  24. Fashion Designers
  25. Fish Farming/Fisheries
  26. Food Products and Processing
  27. General Contracts
  28. General merchandise/Trading
  29. General Tax Consultants
  30. Guidance and Counseling
  31. Gymnastics and Stress
  32. Management
  33. Horticulture/Gardening/Landscaping/Equipment Services.
  34. Hospital/Clinics
  35. Hotel/Hospitality Industry
  36. Human Resource Manager
  37. Import/Export of goods and services
  38. Industrial Chemical Supply and Service
  39. Interior/Exterior Decorations
  40. Internet Service Providers
  41. Jewelers
  42. Land and Quantity surveyors
  43. Laundry/Dry Cleaning Services
  44. Legal Practice and consultancy
  45. Maternity Home
  46. Mechanics/Welding
  47. Medical and Pharmaceutical products (manufacturing, sales and services)
  48. Medical Services/Laboratory
  49. Patent Medicine Store/Chemist
  50. Petroleum Products Sales/ Distribution
  51. Pharmaceutical Manufacture/Services
  52. Photography/Photo Equipment
  53. Plastic Manufacturing
  54. Poultry Farming
  55. Printing/Publishing
  56. Restaurant/Catering services
  57. Road Transportation
  58. Schools (Nursery, Primary and Secondary Schools)
  59. Supermarkets/Departmental Stores
  60. Textile Manufacturers/Distributors
  61. Travel Agents
  62. Veterinary Clinic/Services
  63. Water works/Borehole drillers

Most businesses will fall under one of these, if not, just use General Merchandise

After getting the certificate for registering your business, you can then be assured that you are legally smart.

 

 

 

John Rockefeller

John Rockefeller is remembered by most as the best businessman in history, he was the founder Standard Oil (Exxon Mobil is the largest of its descendants).John was born in New York on 8th of July 1839, to William Avery Rockefeller and Eliza Davison Rockefeller His father William was a doctor who made money pronouncing cure for cancer by traveling from town to town using dubious selling scheme. Whereas his mother Eliza was a strict religious person who taught John to be disciplined, work and save.

By the time John was 12 in 1851, he had saved $50 working for neighbours      and raising turkeys. At the urging of his mother, he loaned a local farmer $50 at 7% interest payable in one year. When the farmer paid him back with interest the next year Rockefeller was impressed and said of it in 1904:

“The impression was gaining ground with me that it was a good thing to let the money be my servant and not make myself a slave to the money…”

His family moved to the city of Owego, New York in 1851 and John attended the Owego Academy there. In 1853, they moved to Cleveland, Ohio and John went to the public high school, graduating in 1855. During his early school years, the teachers noticed that he was excellent with numbers and able to easily computate things in his head.

In 1855, John studied for nearly three months at Folsom Commercial College in a program that taught him about everything from accounting to exchange rates. Later that year, he began looking for a job as a bookkeeper, but had great difficulty finding one. It took him nearly two months to find a job as an assistant bookkeeper at Hewitt & Tuttle, a company that shipped produce. He impressed everyone with his honesty and diligence on the job, gradually moving his way up the ladder.

In 1859, John quit his job to start a business with his friend Maurice Clark. They formed the Clark & Rockefeller Co. with $4000 of their own money and began selling grain and hay. The business was wildly successful, making a profit of $4400 the first year and $17,000 the second year. The business continued making huge profits during the Civil War, but John eventually began looking for a new industry.

In 1862, he started a business called Andrews, Clark & Company. He made the business very efficient by making it so that the business could manufacture most of the supplies it needed. In 1865, he bought out the shares owned by the Clark brothers for a price of $72,500 and gained complete control of the company. He brought his brother William into the business to formal partnership and began work expanding the business by building more refineries.

In 1867, a man named Henry Flagler joined the business, making the name Rockefeller, Andrews & Flagler. A year later, their company became the largest refiner in the world and was highly efficient. In 1870, they formed the Standard Oil Company with John owning the majority share (30%). They immediately began trying to buy out the other oil companies to make Standard Oil a massive corporation, controlling oil wells and refineries all over the country.

By 1879, Standard Oil controlled 90% of the refining in the United States and about 70% of the refined oil being exported. In 1882, the company became a trust with John controlling a significant portion of the Trust shares. However, he did not have complete control and the board of trustees was able to do things without his approval. The company continued to grow, gradually becoming a monopolistic force and nearly forcing businesses to use their oil.

In 1890, the attorney general of Ohio brought a lawsuit against the company, eventually winning in 1892. The Trust was dissolved and Standard Oil was split into twenty companies. In spite of the split, the leaders in the company remained the major shareholders in the individual companies and essentially retained control of the company.

In 1891, John’s hard work was beginning to wear him down. He became very ill quite frequently and lost all of his hair and eyebrows. He appointed a man named Frederick Gates to manage his fortune with investments and charitable contributions. In 1897 he retired at the age of 58, leaving the company under John Archbold’s control. However he did not retire officially and he received the blame when Archibold hiked prices to increase monopolistic revenue.

John’s fortune peaked at about nine hundred million dollars in 1912 and his son, John Jr., joined Frederick Gates in the effort to manage the money. He donated seventy-five million dollars to the University of Chicago, founded the Rockefeller Foundation for education, founded the Rockefeller Institute for medical research, and founded the Rockefeller Sanitary Commission.

John Rockefeller died on May 23, 1937, leaving most of his fortune to his heirs.

The Million Dollar Rat

The million dollar ratIts 1928, A train from New york to Los Angeles carries Walt Disney and his wife home from a meeting in which they have learned that they have lost the rights to Walt’s cartoon creation Oswald the Rabbit. The news is devastating. In effect, they are out of business. But a stray mouse on the train inspires Walt to come up with a new idea. Walt’s wants to call his cartoon creation Mortimer Mouse, but his wife prevails. Mickey Mouse it is.

With this idea, Walt and his brother Roy started in a one-car garage on the wrong side of the track in east L.A and grew the largest entertainment organization in the world.

Do something with your ideas, don’t sleep with it, you probably may be denying the world something great.