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Begho, Atul Charge Startups to Prioritize Building a Brand

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Young Startups have been tasked to focus on building reputable brands and creating value in business rather than striving to make money as their priority.

With the general mindset of making money being the current major focus of most up and coming entrepreneurs, speakers at the CFA’s Startups Hangout for the March Edition are of the opinion that creating value and building brands remains the critical factors for achieving sustainable business growth.

Addressing entrepreneurs at the event, Nkemdilim Begho, CEO, Future Resources Software Limited, stressed that creation of value in a business, as well focusing on how to build the brand should be the primary objective for Startups.

Begho said money should never be the primary objective when starting a business, as this would not provide the ingredients to building a sustainable business in the long run.

“Whenever, I ask up and coming entrepreneurs why they want to venture into business, if they tell me money,  I tell them it doesn’t work that way.  I always tell them to focus on creating value and building a brand, which has helped me till this moment”, she said.

“When I started my own business, it was never easy. I didn’t pay myself salary for over five years let alone thinking of hiring any employee. In spite of all the challenges, I kept on going”, she added.

The Future Resources Limited boss, however, charged the Startups to be strategic with pricing whenever a client shows interest in their services.

Begho explained that most times, clients do not know exactly what they want and the inability to explain in detail to them in a simple language they understand makes this become an issue.

“Some clients don’t even want to pay for your services. Some will under-price your services. You, however, need to be strategic and charge exactly what will work for you.  If you charge less than the real cost, you will never grow your business.

“On the other hand, you need to understand what value you are offering to your client and be able to explain in simple terms the ‘what, when and how’, before implementing a clients project”, she opined.

“When you communicate these things at the initial stage, it becomes easy to avert hurdles in the process of implementation”, she said.

Continuing: She charged all the entrepreneurs to always develop skills at every point in their career and make it a responsibility to grow day after day.

“The only way I get impressed with my employees is when they grow on their job, develop skills and learn fast from me. This way, I get impressed with their performance and that is what all entrepreneurs should be doing”, she concluded.

In his words, Atul Kshetry, a successful business mentor who has led IDM Services Plc through a fast track diversification process, said focus and patience would go a long in way in the entrepreneurial journey.

He explained that Startups have the wrong focus on business, which is commonly driven by money, at the same time jeopardizing integrity.

“When you start a business, be rest assured that the minimum years of getting returns is five, sometimes seven or even ten years and that means, patience. When you don’t have patience, then, it becomes a problem.

He, however, tasked entrepreneurs to make their employees shareholders in their businesses and by so doing, some level of integrity will be injected into the business.

On hiring staff, Atul’s maxims are “sincerity without ability is useless; ability without sincerity is injurious; but ability with sincerity is priceless”, so, go for staff with ability and sincerity when hiring.

“I have always made sure that integrity rules in every busines that I get involved with, meanwhile, making employees shareholders in the company triggers a sense of belonging and responsibility”, he concluded.

CFA’s Startups Hangout is a monthly program sponsored by CFAtech.ng, an online technology media, where entrepreneurs meet, learn, and network.

The Next edition of the CFA’s Startups Hangout holds on the 21st of April, 2017 at Adna Hotel, GRA, Ikeja.

For more information visit: http://startups.cfatech.ng

 


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E-Business

Expert Urges FG to Harmonise NIN, BVN to Tackle Crimes

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Noble Ajuonu, head, Sydani Technologies Ltd., has urged the Federal Government to harmonise National Identification Number (NIN) and Bank Verification Number (BVN) to tackle crimes and insecurity in the country.

Expert Urges FG to Harmonise NIN, BVN to Tackle Crimes

Ajuonu made the call at a media roundtable, organised by Sydani Group in Abuja.

The News Agency of Nigeria (NAN) reports that the roundtable focuses on driving sustainability through a comprehensive analysis of Nigeria’s key development areas.

Ajuonu said that Nigeria could overcome its security challenges and pave the way for a safer, more secure future for all Nigerians by embracing technology and implementing practical solutions,

“We need to harmonise data, prioritise seamless integration of databases like NIN, BVN, and security agency records, establish clear protocols for data sharing and access, with robust safeguards against misuse,’’ expert said.

According to him, the unified data pool will empower intelligence gathering and targeted operations.

He also called for investments in smart surveillance, intelligent video analytics software, training of personnel in data analysis, interpretation of data in real-time to combat crimes.

“There is need to implement a legal framework for call interception in criminal investigations, with strict oversight to prevent abuse, encourage community cohesion, training of tech savvy security personnel with tech-enabled tools.’’

Ajuonu also urged the government to address infrastructure deficit in technology, saying that technology was all encompassing to address insecurity.

“According to the National Identity Management Commission (NIMC), as of December 2023, only 104.2 million Nigerians had been enrolled for the National Identity Number (NIN).’’

Ajuonu added that over 122.2 million citizens left uncaptured for NIN were people in rural areas where enrolment centres, digital services were limited.

“Most crimes are being perpetuated from rural communities and this lack of comprehensive identification creates a gap where elements not captured in the national database can constitute public nuisance, crimes.

“There is the inadequacy in the integration of NIN, BVN and Voters Identification Number (VIN).

“Advanced call interception and analysis tools, used successfully in other countries, could provide invaluable insights into criminal networks and operations but infrastructure is lacking,’’ he said.

Also, Mr Godfrey Petgrave, the Agricultural Expert, Sydani Group, called for empowerment of smallholder farmers with access to finance and training to enhance productivity.

According to Petgrave, Nigeria requires policy reform and institutional strengthening to improve agricultural practices and embrace digital agriculture solutions to address food insecurity.

Mr Akolade Jimoh, another expert of the group on health, advocated for expanded community-based health insurance programmes for rural and underserved areas.

Jimoh added that the country needed to encourage Public Private Partnership to revolutionise products design and quality improvement on health services.


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Konga launches Infinix Brand Week with Incredible Deals

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Konga, Nigeria’s leading composite e-commerce group, is thrilled to announce the launch of amazing deals at its Infinix Brand Week. Infinix, a leading global smartphone brand known for its innovative products and cutting-edge technology promises exclusive discounts and special offers on select smartphones, marking an exciting milestone in the realm of online shopping.

Shoppers can expect nothing short of extraordinary deals on a wide range of Infinix products, all available exclusively on the Konga online platform. With discounts of up to 30% off, this partnership between Konga and Infinix aims to redefine the shopping experience for tech enthusiasts across Nigeria.

Konga Brand Week has become synonymous with excitement and unbeatable deals, and this year’s edition is no exception. In addition to exclusive discounts on Infinix smartphones, shoppers can explore a diverse array of products across various categories, including electronics, fashion, home essentials, and more.

“At Konga, we are dedicated to providing our customers with the best shopping experience possible,” said Rita Ohaedoghasi, VP Marketing at Konga. “The Infinix Week during Konga Brand Week allows us to continue delivering on that promise by offering incredible discounts and special offers on some of the most sought-after smartphones in the market.”

To stay updated on the latest developments and exclusive deals during Konga Brand Week, shoppers are encouraged to connect with Konga across all platforms, including social media and the Konga website. Don’t miss out on this opportunity to score big savings and elevate your tech game with Infinix and Konga.


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Study Reveals Software Programmers to make Full Use of AI Code Assistants

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Gartner predicts that by 2028, 75 percent of enterprise software engineers will use Artificial Intelligence (AI) code assistants, up from less than 10 percent, currently.

According to a Gartner poll of 598 global respondents conducted in the third quarter of 2023, 63 percent of organisations are now testing, deploying, or have previously implemented AI code assistants.

AI code assistants provide for more capabilities than only code development and completion, notes the research firm.

According to Gartner, the use of AI code assistants can lead to higher work satisfaction and retention, resulting in lower turnover costs.

Philip Walsh, senior principal analyst at Gartner, comments: “Software engineering leaders must determine ROI and build a business case as they scale their rollouts of AI code assistants.

“However, traditional ROI frameworks steer engineering leaders toward metrics centred on cost reduction. This narrow perspective fails to capture the full value of AI code assistants.”

Gartner notes that software engineering leaders must “reframe the ROI conversation from cost reduction to value generations”.

Walsh adds: “Calculating time savings on code generation is a good place to begin building a more robust value story. To convey the full enterprise value story for AI code assistants, software engineering leaders should connect value enablers to impacts, and then analyse the overall return to the organisation.”

 


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