Business News

I am no stranger to failure. In fact, one might say it’s my one constant success factor, so when I had the opportunity to review this book, I jumped at the chance. Failing to Win by Mike Quinn is a well-written codification of the success and failure of a FinTech business. Mike Quinn was the co-founder and CEO of Zoona. In this book, he has done a deep dive into the anatomy of why he believes that the company “failed to win.” The business, an early play in the payments transfer space, was a success and was undoubtedly the darling…
Saturday, 28 May 2022 06:15

The three monkeys of strategy

We are all familiar with the three monkeys advising against evil—‘See no evil. Hear no evil. Speak no evil.’—but what do the three monkeys of strategy advocate? Unlike the three monkeys who recommend passive avoidance, the three monkeys of strategy urge contributory action: ‘See Unusual. Hear Uncut. Speak Uncommon.’ When you see unusual, you see opportunity—in situations such as: What the customer could accomplish, even if the customer didn’t realise that—as smartphone makers foresaw. What the customer might outsource—as task-runner companies noticed. What the customer wants to use but not own—as ride-sharing companies espied. What the customer doesn’t want to…
Back in the days before Amazon's retail dominance, I went into bookstores to see which titles the store managers opted to display. I often noticed that there were many copies of Herb Cohen's "You Can Negotiate Anything: How to Get What You Want" and no copies of mine. That made me feel sad that my book was not popular and curious about why Cohen's book was so appealing to people. To some extent the appeal was obvious -- everybody wants things that they can't get and reading the book might help them win more often. Recently. Herb's son Rich wrote…
Thursday, 26 May 2022 06:30

Don't hire the devil you know

You need resources quickly. Should you reach out to friends and family? Let me make it clear up front that I'm not calling anyone a devil. But at what point does your employee become your friend and at what point does your friend become your employee? This is one of my least favorite questions. And I get it more often than you'd think. My own work history isn't any different than most. One of my best friends in the world is someone I hired almost 25 years ago. And one of the worst enemies from my past is someone who…
There is a common misunderstanding that a successful startup equates to a great idea executed—or sold—well. However, countless companies based on excellent ideas have failed because they lack one key attribute: deep knowledge and expertise about their market. You can see this in media companies that don’t quite understand how or why people consume content, healthcare startups that focus more on sleek technological offerings over actual needs and consumer goods companies that overvalue what customers are willing to pay. While it seems simple, I’ve been surprised by the number of startups I’ve encountered over the years that have jumped headfirst…
If you watch the news, read a paper, or go online, you will hear about the big box stores daily; Toy R Us, Pier One, Stein Mart, and many more public companies that are all going under after being in business for decades. What you don't hear about are the small business owners going out of business across our nation. Small businesses are the majority of all businesses and 70% of them will go out of business withing 10 years of founding, according to the U.S. Bureau of Labor Statistics. That's out of a sampling of 27,600 businesses, and these…
Many entrepreneurs talk of loyalty in business partnerships, staff loyalty (or lack of) and loyalty in relationships. These founders expect people to be loyal to them and often get upset when they are not. If this sounds like you, think of how much frustration or pain it caused you to hold on to the fantasy that people are loyal to you. How disappointed you've been in others when they did not live up to your expectations. Well, sorry to point out the harsh reality, but no one was born to please you and live up to your unrealistic expectations of…
Naira, on Friday, weakened to N607 per dollar at the parallel section of the foreign exchange (FX) market amid increased demand. The figure represents a drop of N7 or 1.2 percent from the N600 it traded earlier this week. Currency traders known as Bureaux De Change operators (BDCs), who spoke to our correspondent in Lagos, quoted the buying rate of the greenback at N598 and the selling price at N607 per dollar. A parallel market (street market) is characterised by noncompliant behaviour with an institutional set of rules. The Central Bank of Nigeria (CBN) has consistently maintained that the parallel…
"Ultimately, we know very deeply that the other side of every fear is a freedom." —Marilyn Ferguson, author of The Aquarium Conspiracy Anytime we are about to make a difficult decision or try something new, we instinctively consider the risk. We ask ourselves a whole host of questions that begin with “But what if . . .” That phrase is then followed by any number of potential concerns with varying degrees of likelihood based on past experience, fears, and worst-case scenarios. Everyone has fears. Some fears protect us from very real threats, while others irrationally paralyze us. I’ve explored what…
Nigeria Customs Service (NCS) says it will re-introduce the suspended electronic valuation policy on Friday. NCS said this in a letter dated May 17, 2022, and signed by Ajibola Odusany, NCS’ deputy controller, administration, on behalf of Yusuf Malanta, area controller in charge of the Apapa Command of the service. The agency said there would be a sensitisation programme for stakeholders in the clearance chain in preparation for the redeployment. “In line with the planned nationwide deployment of the VIN Valuation on Friday, 20 May 2022, and the need to continually enhance the platform for optimal performance and service delivery,…
June 08, 2025

Nigerian Stock Exchange surpasses N72trn milestone as investors see massive gains

The Nigerian Exchange (NGX) achieved a historic milestone this week, with its market capitalization breaking…
June 02, 2025

Afenifere blasts Tinubu: ‘Midterm report shows woeful failure, economic deforms, and rising despair’

The pan-Yoruba socio-political organization, Afenifere, has issued a scathing midterm assessment of President Bola Tinubu’s…
June 07, 2025

Are boiled eggs good for you? Here's what experts say

Caroline C. Boyle If you’re after a nutrient-dense breakfast, boiled eggs are a quick and…
June 07, 2025

‘Nigerians are marrying all our daughters’, Kenya’s President Ruto, cries out

Kenyan President William Ruto has stirred up a storm on social media with his provocative…
June 06, 2025

Gunmen kill two policemen, abduct Chinese in Kwara

The Kwara State Police Command on Thursday confirmed the killing of two policemen and the…
June 08, 2025

What to know after Day 1200 of Russia-Ukraine war

RUSSIAN PERSPECTIVE Russian military retaliated against Kiev’s ‘terrorism’ – MOD The Russian military has said…
June 08, 2025

Let God back into the lab: Why science without God is failing us

David Rives In recent decades, a subtle and sinister revolution has occurred in our scientific…
May 13, 2025

Nigeria's Flying Eagles qualify for World Cup after dramatic win over Senegal

Nigeria's U-20 national football team, the Flying Eagles, have secured their place at the 2025…

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