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
The United Arab Emirates has announced its decision to quit the Organisation of the Petroleum Exporting Countries (OPEC) to focus on national interests.
This dealt a heavy blow to the oil-exporting group at a time when the US-Israel war on Iran had caused a historic energy shock and rattled the global economy.
The move, which will take effect on May 1, 2026, reflects “the UAE’s long-term strategic and economic vision and evolving energy profile”, a statement carried by state media said on Tuesday.
“During our time in the organisation, we made significant contributions and even greater sacrifices for the benefit of all,” it added. “However, the time has come to focus our efforts on what our national interest dictates.”
The loss of the UAE, a longstanding OPEC member, could create disarray and weaken the oil cartel, which has usually sought to show a united front despite internal disagreements over a range of issues from geopolitics to production quotas.
UAE Energy Minister Suhail Mohamed al-Mazrouei said the decision was taken after a careful look at the regional power’s energy strategies.
“This is a policy decision. It has been done after a careful look at current and future policies related to the level of production,” the minister said.
OPEC’s Gulf producers have already been struggling to ship exports through the Strait of Hormuz, a narrow chokepoint between Iran and Oman through which a fifth of the world’s crude oil and liquefied natural gas supplies normally pass, because of threats and attacks against vessels during the war.
The UAE had been a member of OPEC first through its emirate of Abu Dhabi in 1967 and later when it became its own country in 1971.
The oil cartel, based in Vienna, has seen some of its market power wane as the US has increased its production of crude oil in recent years.
Additionally, the UAE and Saudi Arabia have increasingly competed over economic issues and regional politics, particularly in the Red Sea area.
The two countries had joined a coalition to fight against Yemen’s Iran-backed Houthis in 2015. However, that coalition broke down into recriminations in late December when Saudi Arabia bombed what it described as a weapons shipment bound for Yemeni separatists backed by the UAE.
By Adedapo Adesanya
Central Securities Clearing System (CSCS) Plc bested four price decliners on the NASD Over-the-Counter (OTC) Securities Exchange on Monday, April 27. The alternative stock market opened the week bullish during the session with a 0.03 per cent uptick.
According to data, the security depository company added N2.61 to its share price to close at N76.26 per unit compared with the preceding session’s N78.87 per unit.
As a result, the market capitalisation of the platform increased by N820 million to N2.425 trillion from N2.424 trillion, and the NASD Unlisted Security Index (NSI) gained 1.38 points to finish at 4,053.97 points compared with the 4,052.58 points it ended last Friday.
The four price losers were led by NASD Plc, which slumped by N3.80 to sell at N34.70 per share versus N38.50 per share. FrieslandCampina Wamco Nigeria Plc fell by N1.45 to N98.10 per unit from N99.55 per unit, Food Concepts Plc slid by 27 Kobo to N2.43 per share from N2.70 per share, and Geo-Fluids Plc dipped by 9 Kobo to N2.91 per unit from N3.00 per unit.
The value of securities transacted by market participants went down by 82.0 per cent to N7.4 million from N41.3 million units, the volume of securities declined by 28.5 per cent to 319,831 units from 447,403 units, and the number of deals dropped by 34.1 per cent to 29 deals from 44 deals.
Great Nigeria Insurance (GNI) Plc was the most active stock by value on a year-to-date basis with 3.4 billion units worth N8.4 billion, followed by CSCS Plc with 59.6 million units sold for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Also, GNI Plc was the most traded stock by volume on a year-to-date basis with 3.4 billion units valued at N8.4 billion, followed by Resourcery Plc with 1.1 billion units traded for N415.7 million, and Infrastructure Guarantee Credit Plc with a turnover of 400 million units worth N1.2 billion.
By Adedapo Adesanya
The first trading day of the week in the currency market was bearish for the Naira in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Monday, April 27.
Yesterday, it lost N5.80 or 0.43 per cent against the United States Dollar to trade at N1,364.24/$1, in contrast to the N1,358.44/$1 it was traded last Friday.
In the same vein, the Nigerian currency depreciated against the Pound Sterling in the official market by N13.70 to close at N1,847.72/£1 versus the preceding session’s N1,834.02/£1, and slumped against the Euro by N11.56 to sell at N1,602.29/€1 versus N1,590.73/€1.
Also, the Nigerian Naira tumbled against the greenback during the trading day by N5 to quote at N1,385/$1 compared with the previous rate of N1,380/$1, and at the GTBank FX desk, it traded flat at N1,370/$1.
The poor performance of the domestic currency could be attributed to liquidity shortage at the official currency market on Monday, which came amid surging demand for international payments. At $76.50 million, interbank liquidity printed higher across 79 deals, up from the $43.572 million reported on Friday.
Nigeria’s gross external reserves declined to $48.45 billion amid a month-long decline in inflows, amid uncertainties in the global commodity market. The depletion of foreign reserves could be partly attributed to the Central Bank of Nigeria’s intervention in the FX market.
The market remains perturbed by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market, while boosters, including oil prices, continue to look rocky due to stalled discussions and unclear ceasefire negotiations between the US and Iran.
A look at the cryptocurrency market, Bitcoin (BTC) has been rejected near $79,000 three times in eight sessions, leaving the level as the de facto ceiling of its current trading range even as major cryptocurrencies trade lower over the past day. It lost 0.9 per cent to sell at $77,003.61.
Analysts say that upcoming US Federal Reserve policy decisions and top tech firms’ earnings this week could provide the catalyst to push bitcoin decisively above $80,000.
The market also continued to weigh Iran’s interim deal proposal to reopen the Strait of Hormuz, which failed to advance over the weekend. The White House said US officials were discussing the latest Iranian proposal but maintained “red lines” on any deal to end the eight-week war.
Solana (SOL) dropped 1.8 per cent to $84.25, Ripple (XRP) went down by 1.6 per cent to $1.39, Ethereum (ETH) depreciated by 1.3 per cent to $2,290.00, Binance Coin (BNB) declined by 0.5 per cent to $625.18, and Cardano (ADA) fell by 0.2 per cent to $0.2480.
However, Dogecoin (DOGE) rose by 2.0 per cent to $0.1002, and TRON (TRX) appreciated by 0.2 per cent to $0.3242, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 apiece.
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