Economy
7 Business Taboos that Every Professional Should Know
Whether it is your normal routine or you want to lure in business investors, the key point here is to trigger their desire and offer convincing proof of a prospective enhancement to their profits.
Somehow, you want your business to grow and expand. While this may seem an obvious thing, there are certain behaviours you must always avoid. Try as much as you can to create a favourable atmosphere within your business to attract funding from investors. With a financially stable business and a promising future, you can sit back and play your favourite online game with friends using your free spins as you watch your business grow.
Business Tips – Avoid These 7 Taboos at Your Peril
Here are 7 business tips to lure the right investors to your business. It would help if you never overlooked them.
- Never Propose To Every Financier within Your Business Database
While there may be many investors out there, not all mean good for your business. It would help if you researched what most individual investors do to follow their business tips and criteria. Note that investors are time conscious and emphasize particular businesses. Reaching up to every financier may limit your chances of understanding which one is likely to be helpful to your business. Pitching to anyone you see on the list is likely to negatively impact your status when you start looking for funding for your subsequent principal idea.
- Don’t Cold Call Every Investor to Request for an Appointment
According to various small business tips, it is always good to seek advice from the investor’s confidant. Further research shows that only 2% may result in an appointment of all the calls you make. Most investors will treat cold calls as spam. Also, in the current setting, many people consider telephone calls a huge disruption.
- Never Assume You Have the Answer to the Big Issue
Why would you want to assume things? It is always good to be realistic and sure when making decisions. Many businesses fail to qualify for funding due to their extremely limited upside. Most investors want to put their money in businesses exhibiting low-risks, enhanced-growth brands, and services for good returns.
Ensure your brand’s solution is research-based, and the issue should be worth resolving. In any case, consumers don’t find any reason for a fix; you shouldn’t expect investors to either. For instance, while people are finding techniques to utilize their mobile devices effectively, others saw the necessity of a remote control device for homes and developed a set of equipment to affordably preset security and temperature functions.
- Shun Industry Discussions
Besides adhering to the various business tips and tricks, listening and sharing ideas with other people is also important. Every business bears its unique terms. At their worst, you will find some terms bastardizing the connotation of certain words and discuss a sense of unwarranted pride. Of course, in a technical or medical field, certain phrases are applied for comprehensive communication. As a startup, you need to be cautious when learning how to apply the phrases correctly.
- Avoid Jumping Into an Already Packed Category
Various startup business tips will help you make the right decision, especially if you contemplate joining an already overcrowded business category. In this case, you must ensure that your business is unique. Within the overcrowded cupcake market, maybe the best way is to distinguish your brand from others by increasing the size a little bit, and hence, the difference.
Always have something that sets your business apart. For instance, how are you going to market your products differently? Make this point clear, particularly if your brand falls into the trendy group.
- Avoid Operating Devoid Of A Net
While others may be taking risks, you should never try that with the investor group. One of the best business tips is practising your pitch until slides aren’t necessary anymore. You can offer it anytime, and you can adjust it immediately, depending on your investor’s interest.
Make sure to analyze your tone within 5 minutes and also get into a 30-minute presentation. Get ready for any questions from your probable investor. The faster you provide precise answers, the higher the chances of luring the investor into your business idea.
- Don’t Allow Your Delivery to Disprove the Intent
The new market research areas include emotion analytics or the information relayed to others regarding the speaker. While you might be made to believe that you are earnest in your presentation, intelligent tone, innovative technology can read your expression and detect how exasperated you are.
Conclusion
Do you intend to be like Thomas Edison, Alexander Graham Bell, Steve Jobs or Elon Musk? It is until you give it a try that you will understand what it takes. The idea here is that if you want to go far with your investment plans, you should try as much as you can to avoid certain habits. As mentioned above, it all lies in being honest with yourself and working out things correctly.
Before we go, we would also like to answer any burning question about these business taboos. Would you mind letting us know about your past experiences and your feelings about the above-mentioned business tips? Your success is our success; let’s move together!
Edward is enthusiastic about assisting businesses, especially local firms, in developing a more personal online relationship with their consumers and prospects. While trading and market research is his strong USP, his expertise in finance works like an added charm to his credentials! He is a finance genius!
By Adedapo Adesanya
Nigeria ranked as Africa’s leading destination for upstream oil and gas investment in 2024, new research from market intelligence firm, Wood Mackenzie, has shown, accounting for three out of four Final Investment Decisions (FIDs) announced by global oil and gas majors, totaling $13.5 billion.
The FIDs announced within the Nigerian market included Shell’s $122 million investment in the Iseni Gas Project, TotalEnergies’ $566 million commitment to the Ubeta Gas Project and Shell’s approval of the Bonga North Tranche 1 project valued at around $5 billion.
According to the Special Adviser to President Bola Tinubu on Energy, Ms Olu Verheijen, these investments reflected Nigeria’s ongoing efforts to unlock its hydrocarbon potential through investor-friendly policies and strategic global partnerships.
Last year, Nigeria introduced several initiatives to create a conducive environment for oil and gas investors, including new tax incentives aimed at attracting up to $10 billion in natural gas investments.
Nigeria, which is Africa’s largest oil producer, also offered tax relief for gas investors, reducing corporate income tax and extending capital allowance benefits – for deepwater gas projects.
Other policies include the Presidential Directive on Local Content Compliance Requirements 2024 to address the reduction in oil and gas investments caused by high operating costs compared to global markets.
Also, the Presidential Directive on Reduction of Petroleum Sector Contracting Costs and Timelines 2024 reduces the time spent to award contracts for oil and gas projects.
In addition to the directives, Nigeria also launched its 2024 oil and gas licensing round, offering 19 blocks for exploration, demonstrating its commitment to continued collaboration with local, regional and international partners.
Market analysts note that with this momentum, further FIDs are anticipated, including TotalEnergies’ expected $750 million commitment to the Ima Shallow Gas Project in 2025.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.22 per cent decline on Monday, January 20, with the market capitalisation shedding N2.35 billion to close at N1.073 trillion compared with the preceding session’s N1.075 trillion and the NASD Unlisted Security Index (NSI) going down by 6.79 points to wrap the session at 3,105.12 points compared with 3,111.91 points recorded in the previous session.
It was observed that the loss recorded on the first trading day of the week was triggered by UBN Property Plc, which crashed by 20 Kobo to trade at N2.00 per share versus last Friday’s N2.20 per share.
However, the share price of Industrial and General Insurance (IGI) Plc went up by 4 Kobo to 40 Kobo per unit from 36 Kobo per unit, it could not stop the bourse from going down at the close of transactions.
The activity chart showed that on Monday, the volume of securities traded by investors increased by 57.9 per cent to 767,610 units from the 486,215 units traded in the preceding session, while the value of shares traded yesterday slumped by 17.7 per cent to N2.3 million from the N2.8 million recorded in the preceding trading day, as the number of deals declined by 14.3 per cent to 12 deals from the 14 deals carried out in the previous trading day.
At the close of transactions, FrieslandCampina Wamco Nigeria Plc remained the most active stock by value on a year-to-date basis with the sale of 4.1 million units worth N162.9 million, followed by Geo-Fluids Plc with a turnover of 9.1 million units valued at N44.0 million, and 11 Plc with the sale of 55,358 for N14.5 million.
Also, Industrial and General Insurance (IGI) Plc closed the day as the most active stock by volume on a year-to-date basis with 25.3 million units sold for N5.9 million, Geo-Fluids Plc came next with 9.1 million units valued at N44.0 million, and FrieslandCampina Wamco Nigeria Plc with 4.1 million units worth N162.9 million.
By Adedapo Adesanya
The value of the Naira weakened against the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, January 20 amid FX pressures associated with this period.
Most people who came into the country for Christmas and New Year holidays are already going back and are in need of forex, putting pressure on the local currency.
Also, the poor performance of the domestic currency could be attributed to end to the 42-day access granted by the Central Bank of Nigeria (CBN) to Bureaux de Change (BDC) operators to buy forex at official price.
According to data from the FMDQ Securities Exchange, the Nigerian Naira lost 0.16 per cent or N2.47 on the greeback yesterday to sell at N1,550.05/$1, in contrast to last Friday’s rate of N1,547.58/$1.
Similarly, the Naira slumped against the Pound Sterling in the spot market on Monday by N23.39 to trade at N1,906.98/£1 versus N1,883.59/£1 and depreciated against the Euro by N23.14 to sell for N1,613.48/€1 compared with last Friday’s N1,590.34/€1.
However, in the parallel market, the Nigerian currency improved its value against the Dollar during the session by N5 to quote at N1,665/$1 compared with the previous session’s N1,670/$1.
As for the cryptocurrency market, it turned red yesterday as the US President, Mr Donald Trump, didn’t bring up the much-expected subject of crypto in his inauguration speech on Monday afternoon.
Mr Trump had promised a far more friendly crypto policy stance than the previous administration but in the long speech that announced his plans in the coming days, he didn’t make mention of Bitcoin or crypto.
Just over the weekend, the President ignited a speculative frenzy with the Friday evening launch of the Trump meme coin, which was shortly followed by a meme coin associated with his wife, Melania.
Dogecoin (DOGE) crumbled yesterday by 6.3 per cent to $0.3419, Solana (SOL) slumped by 4.7 per cent to $235.32, Cardano (ADA) fell by 3.6 per cent to $0.9777, and Litecoin (LTC) moderated by 1.9 per cent to $114.98.
Further, Ethereum (ETH) went down by 1.7 per cent to $3,241.36, Binance Coin (BNB) retreated by 1.4 per cent to $693.30, Ripple (XRP) depreciated by 1.2 per cent to $3.06, and Bitcoin (BTC) tumbled by 0.8 per cent to $101,746.99, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
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