by Johnson Temiloluwa | Jan 31, 2022 | Business & Finance
Business is a term formed from the word “busy”; this means doing something, simply. In the same vein, business owners are people who own a business. To define in a well-structured manner, individuals who form and operate a business that engages in commercial, industrial, or professional activities with the goal of profiting from its successful operations are referred to as “business owners.” With the perpetual improvement of the world, every business owner is making an effort to “package” their businesses and have them well structured. Also, owning a business is already overwhelming and there are ways to simplify the whole pressure into bits. This is why I’ll be sharing with you the must-have apps for business owners in order to get things running in the business as smooth and structured as possible.
Before you go on reading, take a mental note to read the things to do as a business owner so it doesn’t fail.
To get business operations running smoothly, there are different categories that should be handled. And for every category, there are must-have apps for business owners. I’ll share with you apps based on the categories below.
- Project Management
- Invoicing
- Social Media marketing
- Email Marketing
- Bulk SMS
- Storage and Sharing
Project Management Apps
A business owner needs an app that can help handle, arrange, simplify, and note projects. These apps do the job quite well.
1. Trello
This is my favourite. That’s why it is the first. This free platform gives you an excellent user experience and user interface. If you are like me, these are the first two things I check out for in an app. Trello helps arrange projects in lists and boards.
With each project, you can add and check the task progress, customize your workflow to your taste, and even delegate to your team members.
The app can be used freely and if you like the experience, you can decide to upgrade for a more premium package (business class) that costs about $8 for a month. The free version lets you integrate with three tools.
It works smoothly on windows, Android, and iOS, regardless of your screen.
Get it on App Store or Play Store.
2. Asana
This works best for a simple task/project that needs management. It is as simplified as possible so you need not worry about finding your way around the app.
The features aren’t complex and it makes project management as easy as spelling the letter “A”.
It is also free and can be used for a team of 15. Get it on App Store or Play Store.
3. ClickUp
“People love us, and we love them back”. This is indeed true. Northpad Nigeria loves ClickUp because it increases the team’s productivity.
For each person in the team, there’s an excellent experience. It organizes projects and manages tasks effectively. ClickUp can be integrated with over 1,000+ other tools.
It is definitely among the best product management apps. Get it on App Store or Play Store.
Invoicing Apps
The transaction between a business owner and a customer needs a record. These invoicing apps do that for you.
4. Square
This tops the must-have apps for business owners. A business thrives when customers feel close to its product. Square aids this direction. With square, you can check out links, create a customized invoice for customers, gift cards even.
Customers’ e-payment is seamless with square. There’s also the dashboard and analytics part where you can get reports on how your business is doing financially, from any part of the world, and with any device.
Square is the definition of cool. Get started with square here.
5. PayPal
PayPal is an app that allows you to make and send invoices at zero cost. The only fee attached is when your invoice gets paid. Money can be sent in a matter of seconds and your invoice notification is sent real fast.
Check here to download.
6. Zettle
The free invoicing app has an exciting touch to it – it has readily made professional templates that you can choose from in order to create yours. Zettle invoice also sends reminders automatically and is quick to set up.
It also makes tracking payments very easy. However, it has a 2.5% transaction fee but zero monthly fees. You should also know that Zettle is a corporation from PayPal.
Download the Zettle App
Social Media Marketing Apps
Marketing is now mobile. Business owners can do all of this on their mobile devices. That is, you can do this too. The following are effective apps.
This is a social media management/marketing tool that can be used to schedule posts to Youtube, Facebook, LinkedIn, Instagram, and Twitter. It is a paid app but can also be enjoyed using the free plan. The free plan allows you to schedule 30 posts and manage 3 social media accounts.
8. Facebook Ads Manager
Just like the Facebook app, this social marketing app is also free. With this app, you can be in total control of your campaigns, create schedules and even track your ads on Instagram and Facebook.
Other worthy mentions are:
Email Marketing Apps
Using the “bcc” feature on Gmail can get the Email Marketing job done. However, there are better apps tailored for actual businesses for the sake of e-mail marketing. Stay with me.
9. Mailchimp
This is no doubt the best app for email marketing. It has grown popular due to its friendly branding. Mailchimp allows you to send emails to 2,000 contacts and around 10,000 sends in a month for the free version. The paid version allows more.
Mailchimp can be automated with Zapier, now that’s interesting.
10. HubSpot
This is also one email marketing app that can be automated with Zapier. It also has a free and paid plan. Whatever you need in email marketing, HubSpot has it.
Other worthy mentions include:
Bulk SMS Apps
Sending mails might seem like a long process to some business owners. It can even be just a short message you want to send to your customers. So long as you have their numbers, bulk SMS is a good way to go.
This is an Android bulk SMS app in Nigeria. It has impressive features and is very easy to use. It is safe to say it tops the Android bulk SMS apps in Nigeria.
The interesting part of Textmagic is how easy it is to set up. Within a few minutes of signing up, you can start sending texts. All you have to do is set up an account with Textmagic, select a prepaid credit card payment and voila, and you can start sending messages in bulk.
This app can also be integrated with Zapier. It has a month free trial after which a $4 fee is asked for.
13. Slicktext
Just like Textmagic, it has an intuitive interface and gets you started ASAP. This app can be used to personalize and also get reports.
Download here.
Storage and Sharing Apps
The rise of working remotely and without papers makes storing and sharing files with apps a necessity:
14. Google Drive
This is, of course, the first and I am sure you already know it. This free storage and sharing app allows you to create and share files and also have access to them on all of your devices. It has offline accessibility and can be linked to other tools. I personally like Google Drive because of the storage space that it allows.
Other Apps like Google Drive include Dropbox and Microsoft Onedrive.
15. Evernote
This app is highly effective as it can be used to store notes, documents, photos, and even audio files. It works well with Windows, Apple, Android, and iOS.
Conclusion
The world is highly evolving in technology. Having just a Facebook page as the only app for the running of your business is not just right. Today, every business owner needs more than one app to be able to fully function as a business.
All of the categories that I mentioned are indeed essential aspects of a business. So, don’t slack! Download these must-have apps for business owners and get your business running smoothly.
On your way out, you can breeze through ways you can get free publicity for your business and tech gadgets that makes your life easier.
Cheers.
by Johnson Temiloluwa | Jan 17, 2022 | Business & Finance
Starting a business in Nigeria is quite overwhelming and as such, some processes are necessary to be kept in place. In order to function with near-zero technicality hassle, one of the essential things to do as a businessman or a company owner is to register your company in Nigeria. More so, With CAC.
What are the benefits of registering your company in Nigeria? Who or what is CAC? How can you register your company in Nigeria? Your questions will be answered below, stay with me.
CAC is an acronym for Corporate Affairs Commission. The Corporate Affairs Commission (CAC) of Nigeria was established in 1990 vide Companies and Allied Matters Act No. 1 (CAMA) 1990 as amended, now on Act cap C20 Laws of the Federation of Nigeria. Its establishment, structure, and funding are now governed by the Companies and Allied Matters Act 2020. It is an autonomous body charged with the responsibility to regulate the formation and management of companies in Nigeria.
Benefits of Registering Your Company With CAC In Nigeria.
- With a certificate from CAC, you can open a corporate bank account.
- When you register a company in Nigeria, you can apply for loans and grants.
- It places your company in a good structure
- Your company name legitimately belongs to you
- You have access to interns from NYSC once your business is registered
- Customers are rest assured of a traceable account that they pay into.
- Everyone sees your business/company as a legit one.
- Breeds opportunities
- Investors look at the branding of a company before showing interest, if you register your company, you are well-positioned for investors.
- Improves the reputation that your business might already have.
- When you die, so long as your business structure is set and you have registered your company, your company business can continue.
How to Register Your Company With CAC
A business can be registered in two forms:
1. Registering with a Business Name
This name is registered by a sole proprietor with a maximum limit of two people. The liabilities of the company rely on you – the owner of the company.
2. Registering and a Limited Liability Company
Before now, registering a company as a Limited Liability Company (LLC) is usually done for a company/business with two directors and a secretary. However, a new development has allowed one person to be able to register as an LLC. The liabilities of the company are carried by the company.
So back to the point, how to register a company with CAC. By and large, there are two ways to do this:
1. Register with CAC E-Portal
As long as you understand the requirements and process of registering online, doing this with the CAC e-portal is easy. The initiative has made registering a company in Nigeria a near easy-peasy-squeezy experience. Such that you can reserve your company name so it doesn’t get picked by another. The name would be reserved for 60 days while you continue your registration process.
Below are the steps involved:
- Log on to CAC portal – services.cac.gov.ng
- Sign up with CAC (or log in if you already have an account with them)
- Type in your preferred name to see if it hasn’t been picked yet. If it hasn’t, reserve the name and if it has, make another choice of name. Approval will be sent in an hour or a day.
- Fill and follow through with the other procedures as directed. Input the columns with the necessary information.
- Pay filing and Stamp duty fees.
- An electronic Certificate of Registration and Certified Extract of Registration information will be sent to you.
If the process is well-executed and all conditions are met, the CAC will register the business and issue the certificate and other registration documents electronically. A query will be sent if the application is not rightly and properly filled.
However, the whole process may need a CAC agent or a legal practitioner. You’ll see in the procedure where it is needed.
2. Register with the help of Mediahooch
Mediahooch is a branding and marketing hub that is interested and willing to help your brand. If you are someone like me that doesn’t like stress, then your sure bet is having Mediahooch handle it for you.
Conclusion
With all of this said, your business is better protected when registered with CAC. I have a feeling this is not the first time you are seeing this. If it is, then, you are on the right path.
You could also check the 6 Things to Consider Before Starting a Business
by Johnson Temiloluwa | Oct 17, 2021 | Business & Finance
Doing business anywhere can be tough. But it doesn’t have to be. When you have a business plan in Nigeria, your venture can be much easier than you think. A business plan is an invaluable tool that guides your business and prepares you for future risk. This article will show you how to write a good business plan in Nigeria.
What Is a Business Plan?
A business plan, as the name implies, is a plan for a business (usually a new business) in a written document that gives a sketch, describes, and draws in detail how the business will achieve, reach, execute and accomplish its goals. It is a writing conveying information that outlines the operational and financial aims of a business. It is safe to call it “the business strategy” or “road map”. There are specific step by step guides for writing a good business plan.
Aside from the common mistake that most entrepreneurs make in their business, quite a number of businesses have started and crashed down because of a poorly written business plan or the lack of one. Having a good business plan in Nigeria will serve as a guide through every stage of your business from starting to managing and even dealing with your profits. A business plan can also be used to help you get loans from banks and get people to invest in your business. Likewise, securing grants for your business.
I know how confusing it might seem, and that’s why I’ll be sharing with you 9 easy steps to guide you in writing a business plan in Nigeria:
1. Executive Summary
Here is an important part of your business plan because this is the first part that the reader encounters. It should contain everything about your business including your mission, your objectives, business background, and keys to success. While you must cover everything on this page, be sure to keep it straight to the point.
2. Business Description Summary
In this section, you should state the nature of your business, who your target audience is, and what gives your business an advantage against the others. Be sure to define the services you offer clearly and the problems you hope to solve. Perhaps, you want to run a business of dried fruits, under this section, you’d state that you hope to solve the problem of fruit spoilage when large purchases have been made or for a long time.
This is an essential part of writing your business plan in Nigeria. It will give whoever is reading your plan a true insight into what you’re doing and if they should invest or give you a loan. If you have a location where your business is located, it should be mentioned here too. Your business description should contain all of your strengths and should be appealing to whoever reads it.
3. Product and Service Summary
You cannot write a business plan in Nigeria without in-depth details of the things your business is about.
What sort of products are you producing? What are the services you offer? Are those the only products and services you will offer? Do you intend to add more? Where do you get your raw materials from? How much does it cost you to get a full batch of production? How much profit return does your product bring back?
These are the questions the product and service summary section answer.
4. Market Analysis Summary
Before writing this, you will need to conduct a SWOT analysis. SWOT stands for Strength, Weakness, Opportunity, and Threats. This analysis will show you what other businesses are doing, what is the trend and theme related to your business, what’s its position and value in the large-scale market. It’ll help you understand who your competitors are, their strengths, what do successful competitors do? How it works.
After knowing all of that, you should include it in your plan and also, plan strategies on how you can do it better than they did. This is really an essential step in writing a business plan in this country.
5. Management Summary
Here, details of how the business or company is being run, about yourself, and partners you might have (if you are not running it alone) should be noted. How many shares do you have and how much percentage do your partners have?
In addition, include the team that runs the business and highlight their expertise and abilities. It’s safe to mention notable staff, their roles, and talents also. You should also include your plans of getting more people in the team as your business expands if you have any.
6. Strategy and Implementation Summary
In this aspect, it should contain details about how you intend to interact with your target audience – your customers. You should include your brand message, planned advertisements, and promotions that will attract people to your brand.
Furthermore, sales representatives and marketing agents, as well as methods of marketing and outreach, should be included with the strengths. In addition, it should include the advantages your business has over others and how you intend to use that to your sales advantage.
This is a crucial part of your business plan in Nigeria. It plays an important role in convincing your investors that investing will not make them suffer losses.
7. Financial Summary
Here is also an important part of your plan and should include accurate and up-to-date details of your finances. You should include cash flow statements, assets, debts if you have any. More so, the financial state of your business should also be up to date at the time of writing the plan.
You should also include how your finances are being managed, how revenue is being generated. Again, you should include who is in charge of finances, how accurate your financial predictions have been, and if you have been able to reach the goals you set out.
At a glance, your readers should be able to tell if your business is in a healthy cash position or not. If your business is just starting, be sure to include the present relevant details and avoid including false or twisted information.
8. Funding Request
There might not be a need to include this if you do not intend to ask for a loan or grant. This should contain how much you need and details on how the funds acquired would be spent. Additionally, if you are getting a loan, indicate your payment plan and if it is an investment, state the benefits that the investor would gain from their investment in your business.
You should make sure that the details you provide are accurate and detailed to clear every doubt your reader might have.
9. Appendix
Lastly, this should contain other information you may want to add including legal documents, contracts, etc.
Conclusion
Now, with your understanding on how to write a business plan in Nigeria, be sure to be straight to the point and honest with every detail you provide. If you’re still confused, you can head over to a site called bplan. There you can get different samples to practice with.
For people who have so much on their hands or can’t just find time to write a business plan themselves, just visit Mediahooch. They handle writing business and every or anything regarding branding and marketing, can be professionally executed by them.
You should also check out tips for new business owners, this will greatly help your business.
Good luck!
by Johnson Temiloluwa | Sep 29, 2021 | Tech & Innovation, Business & Finance
It’s no longer news that fintech is thriving in the country. Numerous startups have had a huge impact on the country’s financial sector. A few years ago, in order to save money, you’d have to go to a bank, stay in long queues, and fill several forms. Sometimes, you save in a wooden box popularly known as “kolo” or “piggy bank” and your money gets eaten by termites if not kept properly or your siblings find a way to take out of your money without you knowing.
Now, technology has made things easy as there are fintech apps that can help you save money. The sweet thing is that you can operate them on your mobile devices.
In this article, I’ll share with you 5 reliable apps that can help you save money. These apps are based on the safety of your money, the amount of interest you can get, and how flexible the platform is.
5 Apps That Can Help You Save Money
1. PiggyVest
Piggyvest is an effective online saving app that helps you save and invest. It was founded on February 16th, 2016 and it is the first of its kind in West Africa. The flexibility of this app is admirable, it combines discipline with efficiency. It doesn’t only help you save, but also helps you grow your money.
It was formerly known as piggybank but got changed to PiggyVest in 2019. You can save as low as 50 Naira in your PiggyVest account, and there is no maximum amount limit. Save as much Naira as you can.
How does it work?
When you save, you get 10-15% interest and when you invest, you get over 25% returns. In the app, you input your debit card details and with it, you can transfer money to the app. There is even an autosave option too in the app. It has an amazing user interface and it is easy to navigate. It takes about 15minutes to set the account up, after which you earn a thousand Naira after signing up.
There is a safety lock feature, where you lock any amount of money and set a date for withdrawal. It charges a 5% fee for withdrawing before the date set. I call it a “discipline fee” but the money saved on your flex account has no withdrawal fee. Another interesting part about it is that in the Piggyvest flex dollar account – you can save, invest, and transfer money in US dollars with it.
It’s one of the best apps that can help you save money. It helps you “save, invest and grow your money with ease”
You can download it here
Cowrywise says that they are re-imagining and reworking how financial services get delivered to people. This is a financial institution that is well trusted and reliable to help you save and invest money. They are located in Lagos, Nigeria. Their app is reliable, flexible, and just right for your savings and investments. Razaq Ahmed and Edward Popoola founded it in July 2017. In 2019, Cowrywise was recognized and made the list of 50 world-changing startups.
Cowrywise gives an interest of 15% to every savings. There’s a segment in the app where you can lock your funds and set a date where you want to withdraw them. Your funds can be locked for a minimum duration of 90 days and have no maximum duration. You can only withdraw your funds at the set date.
Interestingly, they have a minimum saving amount of N100 and any kind of debit card can be used on the app. The flexibility feature of Cowrywise is applaudable as it has different saving features, tailored to different situations. They include:
- Savings circle
- Regular Plan
- Life Goals
- Halal Savings
- One time savings
This is a fintech company that provides your savings and investment solutions. In Pettysave, you can save either daily, weekly, or monthly and also save for plenty of reasons – like electricity bills, water bills, school fees, car maintenance, etc.
There are 3 saving options in Pettysave namely:
- Autosave: The autosave gives an interest of 10% and money is automatically taken from your bank, be it daily, weekly or monthly. It depends on how you set it.
- Target Save: Just like the name suggests, you save towards a goal. In this option, you earn up to 10%
- Vault: You can save your extra cash here as fixed deposits. The longer you leave your fund fixed, your interest increases and you can have up to and even more than 12% interest.
This is one of my favorite segments.
This is yet another app that can help you save money. They were formerly called “Sumobank” and now, they give you 10-15% on every one of your yearly savings. The minimum limit of cash that you can save is N100. There are categories: InstantSave and the Fix saving. Which by just the name, you know what they mean already.
You should try it if you have money that you won’t need till the next year as the minimum time limit after you fix save is one year. Try the app here for Android users and here for IOS.
“Save and earn while at it” is what you’ll see on the page when you try to download this app, and you sure earn while you save. This is one app that can help you save your money. The interest rate is 8% per year.
There are two saving plans namely: Goal savings and periodic savings.
Read Also Best Social Media Platform for Business
Conclusion
Conclusively, saving can be stressful but these apps simplify the stress for you. Now that you know the apps that can help you save money, all you have to do is download any of these apps, sign up, and start your saving journey. You will hit your saving target!
by Johnson Temiloluwa | Sep 29, 2021 | Business & Finance
Being a business owner is not a walk in the park, it takes a lot of intentionality, consistency, and information – just to mention a few. Before excelling at anything, it is only right to have enough information about it. Are you thinking of starting a business? Did you recently just start a business of your own? Oh well, you are in the right place because there are many things every new business owner should know. In this article, I’ll be sharing with you 10 tips for new business owners.
10 Tips for New Business Owners
1. Be Organized
It is easy to get frustrated at the beginning of a business as you have a lot of things to do. Being organized involves creating a to-do list. It greatly takes the pressure off and helps you see to the completion of your task for the day in their order of importance. Once you finish a task, tick it off the list and move to the next one.
Being organized is a cool thing to be as a new business owner.
2. Be an Informed Risk Taker
In every kind of business, it is inherent to take risks. It is important in business to take calculated risks in other to grow the business. However, it is wise to be informed about risk before jumping right into it as it can make or mar your business.
Being an informed risk taker is one of the many other tips that new business owners should know. “How large is the downside of this risk?”, “How does this risk impact growth to my business?”, “Would my business be greatly affected if this risk doesn’t favour me? These are the kind of questions you should ask yourself before taking a risk as a new business owner.
3. Always Be on Your Creative “A” Game
Things change. Time and circumstances change, but how would you change your business to fit the changes happening around you? Be creative.
Take the pandemic, for instance, it was a huge change for the world and it birthed new business owners. People put on their creative suits and came up with different ways of making the nose mask, the face shield, and every other protective material needed for the pandemic.
Always think of new ways to improve your business. Make it stand out, make a mark, and revel in creativity.
4. Be Dedicated
In the qualities every entrepreneur should have, I talked about how Rome wasn’t built in a day and how commitment is an essential quality for every entrepreneur. I am reminded of a phrase I got from my Secondary Computer class – “Garbage in, Garbage out” which translates to what you put in is what you have.
Being dedicated is an important tip for new business owners. Having a business is not a walk in the park. Frustration might set in but your dedication will give you the result you want. Be dedicated to making your business a success and watch it be that success you want it to be.
The price of success is hard work, dedication to the job at hand, and the determination that whether we win or lose, we have applied the best of ourselves to the task at hand.
5. Passion
I should ask first, are you passionate about your business? Do you love it? Is it a business that you are proud of? Is it a business that excites you while at it? If the answer to these is yes, then you are doing well. Passion is an intense drive and emotion. If you have this as a business owner, your business is set to be a success. The passion will show in every aspect of your business and it would interest people to want to patronize you.
On days when you hit the “business bottom”, the passion you have will drive you to not stay at that bottom but invent ways to make the business better. Remember, passion breeds productivity.
6. Provide Value and Solution
People would always patronize solution providers and value givers. It has been that way and it will continue to be. So how about a few checks and balances on your business? What solution does it provide? What value does your business give off?
If your service is better than A’s, people will be excited to get your service. In addition, if your service is a solution to people’s needs, they’ll get it from you. In the long run, your productivity level as a new business owner skyrockets.
7. Be a Record Keeper
Record keeping is a key tip for new business owners. Record keeping has its part to play in managing the business; accounts, finance, interests, and growth. It also documents the success of the business and helps note places that should be fixed.
Who knows, in the long run, you can go back to those strategies you recorded that worked for your business and teach new business owners for a fee.
8. Make Good Customer Service a Culture in Your Business
Imbibe good customer service as a way of life for your business. How you respond to your customers says a lot about your business and it can affect the success of your business.
Be receptive to your customers and treat them well. Everyone loves to be treated well and with respect. Make your business stand out as the kind that has good customer service.
9. Have a Network
Be it a support network, building network, or even customer network. Have a network, meet new people and tell them about your business.
10. Manage Your Time Effectively
Saved the best for the last. As a new business owner, you should manage your time well and value time management. It is a skill that every business person should have. Talk more of a new business owner.
Effective time management will include prioritizing and setting measurable goals.
Conclusion
All of these are tips for new business owners and you should know. I am rooting for you and your business. Cheers.
