Business News

Thursday, 06 July 2023 04:28

Few founders get it right the first time

One happy exception to this rule is Ed O’Reilly, who helped build and co-found a successful software development business after several failures of his own. And while he learned a fair amount from his own missteps, he often found answers and lessons needed in the books he read. The first thing he learnt to do was to pivot. His original career path was to become an actuary, but events conspired to interest him in programming. “I never used any of the complex maths from actuarial science in business, but because I was used to learning such complicated things, learning to…
Stock investors recorded a significant loss of N671bn on Tuesday at the Nigerian equity market which had posted a strong start at the beginning of the second half of the year, signaling President Bola Tinubu’s administration. The All-Share Index closed at 60,715.04 index points, 1.99 per cent less than the 61,949.24 index points it recorded at the end of the previous trading day. In a remarkable one-day loss, the market value of shares fell by N671bn, (1.99 per cent), to N33.06tn at the close of trading. This was from N33.731tn recorded in the previous day’s session. CHIPLC, ETERNA, and CHAMS…
MTN Nigeria and Airtel Nigeria have emerged as the most capitalised companies in the country with N5.56 trillion and N4.49trn to lead eight other companies on the stock exchange’s 10 most capitalised companies in June. In a data released by the exchange yesterday, the two telecom operators’ combined N10.5trn capital base gave the ICT sector an edge over the industrial goods sector which parades Dangote and BUA with a combined capital of N7.98trn, and the consumer goods sector which has Nestle and BUA with N3.43trn. Data shows that the financial sector got N2.11trn while oil and gas had N823.7billion and…
Wednesday, 05 July 2023 04:29

3 secrets to building a winning team

As an entrepreneur and author, I've had the opportunity to work with and learn from some of the best business minds in the industry. Time and time again, I've seen that the key to success lies in one crucial element: A winning team. Without a group of dedicated, talented individuals working together, even the most innovative ideas can fall flat. I'll share with you three best practices to building a winning team: Finding "A" players, recruiting and vetting and employee retention. These strategies have helped me build successful businesses in the past and I know they can work for you…
Collaboration. Businesses want it. Governments want it. Leaders frequently invoke the word whenever a formidable challenge emerges. What better way to serve customers, respond to threats, and deal nimbly with unexpected events (say, a worldwide pandemic) than to bring together different parts of an organization? Maybe you have found in your own experience, though, that the desire to collaborate does not always translate into positive results. In fact, all too many collaborative efforts fall apart because of a natural human tendency to be territorial. Understandably, people identify most strongly with the people they already know and work with on their…
Not a day goes by without someone telling me that they have an idea for the next big thing. Now, it could very well be that those people are right. But, nine times out of ten, they haven't done any research to actually determine if their idea is doable. Here are five questions founders ask themselves when deciding whether to move forward with a startup idea. 1. Has anyone done it before? I've spoken about this countless times, but before you write one line of code, do market research. Figure out if someone has done it before you. Were they…
Some people reach incredible heights in their careers because they happen to be the kind of creative genius who has the right idea at the right time. Most tech-whiz kids like Bill Gates, Steve Jobs and Mark Zuckerberg fall into this bucket. But what if you're the kind of entrepreneur who wasn't lucky enough to think up the idea for Facebook in 2004 and is looking for a more step-by-step path to career greatness? Then you could do a lot worse than follow the example of Uber CEO Dara Khosrowshahi. A lucky break and a fast climb Khosrowshahi started out…
Nigerian banks are heading for their best quarterly performance in six years as a return to more conventional economic policies and a sharp devaluationof the naira are expected to boost profits in the West African nation. Banking stocks are up 34% this quarter and headed for the best quarterly performance since 2017, according to data compiled by Bloomberg. The NGX10 index, which tracks the performance of the lenders on the Nigerian Exchange, is up 45% so far this year, extending its gain to 54% in the last 52 weeks. That compares with a 2.3% loss on the MSCI Emerging Markets…
Between his own business success and his investments in hundreds of startups, Mark Cuban knows what it takes to be highly successful. There's one trait you should cultivate above all others if you want to be successful too, he says. "The one thing in life you can control is your effort," Cuban, 64, recently said in a LinkedIn video post published by entrepreneur and VC investor Randall Kaplan. "And being willing to do so is a huge competitive advantage, because most people don't." Putting in effort means going beyond what's required to solve problems, even when you aren't asked to…
"Why can't they get this right?" When I hired "Jen," my first employee, I thought everything would be smooth sailing. I'd chosen someone smart and hard-working, and I couldn't wait for her to start taking over some of the tasks I was ready to offload, so I could focus on the parts of the business I enjoyed. That's not what happened. Things started well. But after time, well...Jen wasn't performing horribly. But her work wasn't up to my standard. Over time, though, I realized: Jen wasn't the problem. I was. I was expecting Jen to take over tasks I had…
June 26, 2025

How to ace a job interview in 90 seconds, from an Ivy League communication expert

Sophie Caldwell You only have about 90 seconds to make a strong first impression in…
June 26, 2025

Peter Obi decries ‘coordinated lawlessness’ after brother’s property is demolished in Lagos without court order

Former presidential candidate Peter Obi has condemned what he described as a brazen act of…
June 27, 2025

Which drink is best for hydration? Hint: It isn’t water

Lisa Drayer When you’re thirsty and in need of a drink, which beverages are best…
June 21, 2025

Man convicted of posing as flight attendant to fly for free 120 times

A 35-year-old American man has been found guilty of impersonating a flight attendant at least…
June 26, 2025

17 soldiers killed, dozens injured in fierce gun battles with terrorists in Niger, Kaduna

Seventeen soldiers have been confirmed dead and at least ten others injured following coordinated attacks…
June 27, 2025

What to know after Day 1219 of Russia-Ukraine war

WESTERN PERSPECTIVE Russia captures village in eastern Ukraine near lithium deposit, Russian-backed official says Russian…
June 25, 2025

Tesla robotaxi launch: Why getting from dozens to millions of self-driving cars won't be easy

Tesla (TSLA.O) finally has a robotaxi. Now comes the hard part. The electric-vehicle maker deployed…
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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