Business News

In the early days, my company sold one product. Our flagship product. The bestseller. The one we're known for. We built our business around the wired bra. And as a result, in ThirdLove's building stages, we devoted all of our focus to positioning and messaging around one key product. Last year, we extended into a number of new categories. Our original product marketing cadence focused exclusively on the flagship. With irons in so many fires, we found that our strategy had to evolve. Especially when you venture into new categories, customers will visit you (virtually and/or in person) at different…
Jodie Cook Saying yes to everything might seem like the path to success. But the most accomplished people know that saying no is often more powerful. They guard their time fiercely and focus on what truly matters. You’re not being antisocial, unhelpful or rude. You’re simply closing off the options that don’t align with your priorities. Being smart with your most precious resource: time. Here’s how successful people master the art of saying no. How to protect your time like it's your most valuable asset Set clear priorities Successful people know exactly what they want to achieve. They are laser-focused…
Nigeria’s biggest beer maker, Nigerian Breweries, plunged deeper into loss in the nine months to September compared to the same period of last year as the brewer’s net loss soared by more than 161 per cent according to its earnings report issued Wednesday. A mix of factors ranging from the country’s galloping inflation, exchange rate volatility and accelerating input costs drove the less impressive performance. “The increase in Net Loss was again significantly influenced by FX loss due to the devaluation of the Naira and high borrowing costs arising from higher interest rates,” the company said in a separate statement.…
Seth Godin The world is shifting faster than ever before. In an age of constant change, disruption, and uncertainty, the traditional ways of approaching strategy are no longer enough. You can’t rely on a static plan designed to meet yesterday’s challenges. Instead, strategy must be dynamic, adaptive, and—most importantly—resilient. The ability to embrace and thrive on change is what sets apart businesses and leaders who succeed from those who merely survive. Today’s strategy isn’t about having a perfect, foolproof roadmap. It’s about making better decisions in real time, about knowing where you’re headed even when you’re not sure of the…
From November 1, 2024, a one-way flight ticket from Lagos to Abuja on Air Peace is to hit N200,000. The harsh economy has been affecting the aviation business causing airlines to increase their fares amid lamentations from passengers. This development has forced some Nigerians to abandon flights for road transport. Checks by our correspondent on the airfares of airlines on Monday showed that Air Peace increased its fares to N200,000 from November, the highest among the domestic airlines. While Air Peace has N200,000 and above on its website for a one-way trip between Lagos and Abuja, Aero is charging N94,000…
Due to the scarcity of foreign exchange (FX), hike in tariffs, increase in import duty, and other related taxes, automobile dealers have lamented their inability to import fairly used cars into the country. This is even as they have now resorted to recycling Nigerian used cars, while others have abandoned the automobile business entirely. Speaking with The Guardian, the President of the Association of Motor Dealers of Nigeria (AMDON), Ajibola Adedoyin, said the hike in taxes, fuel, and tariffs has affected the importation of cars into Nigeria. Meanwhile, Nigeria’s import bills on used vehicles, popularly known as tokunbo, fell by…
Tuesday, 22 October 2024 04:53

7 ways to scale up a startup

Key Takeaways Scaling a startup to a billion-dollar business is incredibly challenging, but it's achievable with the right strategies.Leaders must focus on solving real problems, work to achieve operational excellence, secure product-market fit, avoid overreach, build a cohesive team, consider horizontal integration and think globally. Every entrepreneur dreams of turning their startup into a billion-dollar business. The allure of achieving unicorn status — reaching a valuation of over $1 billion — is powerful, and I'm no exception. The journey from a fledgling startup to a billion-dollar enterprise is daunting. While we are still on the path to this goal at…
No fewer than four vessels carrying imported Premium Motor Spirit, popularly called petrol, arrived at seaports situated along the nation’s borders between Friday, October 18, and Sunday, October 20. According to a document obtained from the Nigerian Port Authority on Sunday, about 123.4 million litres of PMS were berthed at two seaports to improve fuel supply nationwide. The latest development confirms an exclusive report by The PUNCH, which disclosed that oil dealers intend to import the commodity to supplement the supply from the $20bn Dangote Petroleum Refinery. The dealers had stated that the supply from the Lekki-based plant was currently…
The Central Bank of Nigeria released $547.7m (N823.19bn at the official exchange rate of N1,503.3/$1, as of June 30, 2024) to Nigerians for the importation of food items in the second quarter of 2024. The amount is a reduction of $142.48m or 20.6 per cent from $689.88m recorded in the first three months of 2024 and N80.76bn or 8.93 per cent from N903.95bn recorded in Q1 when converted to naira. This implies that the CBN released a total of N1.73tn for food items importation in six months, according to data from the bank’s quarterly statistics bulletin. An analysis of the…
The African Development Bank (AfDB) has approved $100 million for the establishment of the Youth Entrepreneurship Investment Bank in Nigeria. Akinwunmi Adesina, AfDB president, spoke on Friday in Abuja while delivering a keynote address at the 90th birthday lecture of former head of state Yakubu Gowon. “I am delighted to announce here today that just three days ago, the African Development Bank’s board of directors approved $100m for the establishment of the Youth Entrepreneurship Investment Bank for Nigeria,” he said. Adesina said the initiative highlights AfDB’s commitment to supporting youths who he believes are critical to the development of the…
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December 20, 2024

Naira expected to weaken further, says CBN business survey

Nigerian businesses anticipate further depreciation of the naira through early 2025, despite maintaining overall optimism…
December 20, 2024

Atiku questions alleged hack of NBS website, says timing suspicious

Former Vice President Atiku Abubakar has raised concerns over the recent claim that the website…
December 15, 2024

102-year-old on living a long, happy life: 'I don't do exceptions'

Often, centenarians, people ages 100 and up, say their purpose in life keeps them going,…
December 21, 2024

‘Professional Back-Scratchers’ charge up to $130 per hour

The Scratcher Girls is an unconventional relaxation therapy studio that charges clients up to $130…
December 21, 2024

NAFDAC busts illegal rice repackaging operations in Nasarawa, Abuja

The National Agency for Food and Drug Administration and Control (NAFDAC) has cracked down on…
December 21, 2024

Here’s the latest as Israel-Hamas war enters Day 442

Israeli military says Yemen missile lands near Tel Aviv, 14 lightly injured, ambulance service says…
December 20, 2024

OpenAI launches voice and text access to ChatGPT through new phone service

OpenAI has introduced a novel way to interact with its popular ChatGPT artificial intelligence system…
December 17, 2024

Ademola Lookman named 2024 CAF Men’s Player of the year. These players won in other…

Ademola Lookman, the Super Eagles winger, was crowned the 2024 CAF Men’s Player of the…

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