Business

What is Digital Currency?

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We now live in a digital world where almost everything is now digitalized. Even money itself has now become a become a digital currency. From the looks of this, cash may not be present forever, because there’s been a recent switch in modes of payment which can cause the extinction of cash. This recent development is Digital currency (or money).   What is digital currency? Digital currency (or money) is a form of money or means of payment that is available in only electronic or digital form. It is not physically tangible because they’re in electronic form and can only be accessed with computers or mobile phones with an internet connection. Digital currencies are stored in a centralized or decentralized ledger or block-chains.   Characteristics of digital currency As stated earlier, digital currencies only exist in electronic/digital form. They don’t have any physical form. Digital money can be in centralized or decentralized currency form. An example of a centralized form is the Fiat currency. A decentralized form of currency example is Cryptocurrencies such as Bitcoin.   Types of digital currency Different types of digital currencies exist in the digital world. Here are 2 major types of digital currency; Cryptocurrency: this is a digital token that is unregulated and exists in digital form. It allows people to make payments to one another through an online method. The most common examples of cryptocurrencies are Ethereum, Bitcoin, and Litecoin. Central Bank Digital Currency(CBDC): it is a digital money form that is granted by a central bank and can be accessed by the populace.   Benefits and risks of digital currency Digital currencies can be favorable or unfavorable in the financial world. Some of the benefits of digital currencies include; Speedy deals– deals are faster than the traditional form of payment because the transfer of available funds is made easier through online approaches. No extra fee charge– compared to traditional financial institutions that include an extra fee on every transaction made, the use of digital currencies requires no extra fee charged for any transactions made. Funds tracking– since transactions are made online, you can track your funds for any payment made. Easy accessibility– digital currencies (or money) can be used by anyone since it is done online.   Some risks of using digital currency are; Exposure to hacking– since digital currencies are operated online, they’re vulnerable to hacks, and most times funds are stolen. Instability– most digital currencies are decentralized meaning they are not backed up by central banks or the government. This makes them unstable and may lose or gain value quickly. Criminal accessibility– criminals can scam or exploit individuals with the use of digital currencies because they are easily accessible. They can use digital currencies for laundering money or illegal activities.   Future of digital currency Digital currencies represent the future of finance. Therefore, governments and central banks of countries all over the world are on the look to create their digital currency. Digital currencies, since their launch, offer flexibility in terms of easy accessibility to every individual. It will also help to build the economy of the country because it will be economical, and serve as a quick and easy mode of transaction. Digital currency can help to improve trade and also open up multiple chances to improve the financial state of countries.   Conclusion Due to innovations and digitization of the world now, it can be said that even money is moving in the digital direction. Digital currencies are the future of money/finance. Digital currency is not physical but is available in digital forms making the world a less stressful place by making transactions easy and faster! ALSO READ: Reinvention            

10 Profitable Side Hustles in Nigeria .

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10 PROFITABLE SIDE HUSTLES IN NIGERIA   Side hustles are for anyone. Who doesn’t want an extra income? 9-5 workers, students, and part-time workers can get engaged with various side hustles.   It is no doubt that most Nigerians are industrious people always trying to make ends meet. But with only one source of income, it is quite difficult to meet these needs because they are often faced with financial difficulties.   In Nigeria, side hustles are considered small jobs or businesses for generating extra income aside from your primary source of income. Most Nigerians, therefore, opt for side hustles to complement their existing income because they won’t have to worry about the arrival of their next salary as they can use funds gotten from their side hustles to cover up for expenses that might come up.   If you’re looking for a way to make additional money in Nigeria, here are 10 side hustles you should check out to make extra cash.   Freelance Freelancing is one of the best side hustles to make money online. You can generate income by monetizing your skills such as writing, graphic designing, proofreading, website development, content creation e.t.c. You can work under an individual, client, or company. It is a flexible side hustle in that you can choose who you work with, the type of job you want to work on, and where you want to work from. Freelancing sites such as Upwork and Flexjobs recruit freelancers.   Virtual Assistance Virtual assistants are people that help other people online to achieve business and personal goals. Virtual assistance is a very flexible job with a wide range of skills/services rendered to clients. Working as a virtual assistant, you can try out different aspects of online jobs and pick the ones you are best at. Examples of services/skills rendered are answering emails, making appointments, designing, administration support, social media management, creative development,  and product research.   Uber In Nigeria, Uber is one of the most popular rides. If you have a good car, you can go for this side hustle. All you have to do is sign up on their app. You can make a lot of money of about 200,000 Naira per month. This side hustle offers flexible working hours and they also have earnings that can be converted into cash for you!  It is worth it if you live in busy cities as you can make more money due to the high demand for transportation and its availability.   Blogging If you’re trying to look for a paying side hustle in Nigeria, then blogging is one of the best options for you especially if you’re a passionate writer or content creator. You can monetize what you are passionate about and get good income for your blog or content from advertisements, affiliate marketing, and selling products online on your blog.   Cooking and delivery Food is an important factor in the general output of humans. In Nigeria, most people in the working force skip their meals, which in turn reduces their productivity in their various companies. To bridge this gap, cooking food and delivering it as a side hustle has been developed. This can be done right at home if you have a kitchen. Delivery can be done through cars, tricycles, or bikes to a customer’s location. Additional income can be made just by meeting other people’s meal needs!   Delivery for sites There are various online shops in Nigeria. Examples are Jumia and Konga. Take Jumia for example, it is the largest online shop in Nigeria, you can help them supply products bought by their various customers. All you have to do is to register and get verified. You can earn from delivery through commissions per goods delivered to clients. The more you deliver, the more you earn!   Tutoring If you enjoy teaching and are interested in young kids or teenagers,  then this side hustle is right for you. You can monetize your teaching services by teaching a particular age group of students, virtually or on-site. You can earn an extra income by just organizing tutorials for people.   YouTube YouTube is the 2nd largest visited website worldwide. If you’re good at sharing information or talking about your interests or hobbies, then this is for you! You can start up a YouTube channel, all you need is a very good information niche and a good camera. You can earn by uploading video content. With a lot of views and subscriptions, advertisements, and sponsorship deals, you can be sure to earn on this platform.   Online Shop We now live in a digital world where most shops are online. It is now possible to order goods from an online store rather than an onsite shop. Having an online shop enables you to reach a lot of people from different cities, states, and even countries. With this advantage, you’re able to earn more by having your shop online.   Photography Whether you’re an amateur or professional, photography is a great side hustle. Asides from taking pictures at events e.g birthday parties, and wedding parties, you can also sell your pictures online to websites that need images to update their content.   Conclusion Most Nigerians need a passive flow of income asides their primary source of income. Side hustles can ease financial struggle and stress, it can also help you grow financially. It can be seen that side hustle is an important factor for you to become independent financial-wise. ALSO READ: Small Business -6 steps to Create a Successful Marketing  Plan

StellAfrique: Your Perfect Stop for High Quality Hair Extensions

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  Be Authentically You with Us Looking to shop for high quality, carefully sourced and durable hair extensions and products? StellAfrique is simply the perfect stop for you.  We are a brand that never compromises on high quality and this is why we offer you 100% raw virgin hair, sanitized hair weaves, and lace closures that are not only chemical-free, but neither sheds or tangles. The StellAfrique brand is an Authentic brand that encourages you to remain the Authentic YOU always! What’s more? Our hair products are definitely not left out, as they are designed to cater to your hair needs. We also offer fast shipping (same-day shipping for orders placed before 3pm EST) Why not contact us via: Email: [email protected]. Call: +44-749-821-3624                                                                                                                   Visit us @ https//stellafrique.com No Patting; No Itches: Just a Stella Hair that Serves Forhairver!   READ ALSO:

Who Is An Introducing Broker?

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  Does the world of investment interest you? And Have you been looking out for a way to make money without conducting direct trades? Then you may find success as an Introducing Broker. It is no news that in the forex market, the services of various people are being relied on. It welcomes every category of participants from active traders to passive ones and even those who do not execute trades but aid the trade of others by their services. The forex market is the largest functional market in the world presently, with a huge turnover of about 6.6 trillion dollars daily, thus making a lot of people attracted to this space. Attracting new clients, however, is one of the hardest tasks to achieve after opening a brokerage firm as this can be achieved through advertisement, e-mail marketing, tradeshow participation, and search engine optimization(SEO). But an important service a forex broker shouldn’t ignore, to help increase client base, earnings and great profit is that of an introducing broker. An Introducing Broker, therefore, is an intermediary between a brokerage firm and its clients. An introducing broker can be an individual or a legal entity e.g. a company. It is not mandatory that all its activities are related to financial services, but its main task is to attract customers – profitable traders, money managers, investment advisors, and high-income generating website owners, to the brokerage company. How to become an Introducing broker To become an introducing broker, you do not have to acquire any special license or document. Nor do you have to pay any special fee. All you need to have is a finance practice, particularly in the forex space, and possessing a strong online presence. This is because your potential clients are from the network of active followers. An interested customer base with certain initial capital, interest in alternative forms of investment, and a desire to trade independently, and invest in various financial markets are what an introducing broker needs. Also, an introducing broker needs to have top-notch communication and social skills as they are the crucial pillars of modern-day marketing. Functions of an Introducing Broker As independent agents that they are, they help to: Attract clients to trading platforms of partner brokers. Motivate clients to trade actively. Accept orders from clients to conclude exchange transactions. Work directly with end customers by providing thorough aid to customers e.g. filling documents, technical help, training, and advisory roles. Organize marketing strategies and activities to attract many potential traders as possible. Provide successful clients with recommendations for investor accounts within the framework of trustworthy management. Benefits of being an Introducing Broker The following can be noted as advantages of being an introducing broker: No upfront investment: it is a business that needs little to no initial or continuous investment, to start up or maintain. No office needed: an introducing broker can work from anywhere around the world, all that’s needed is good internet and a laptop. Possibilities to get wages independently: introducing brokers receive a reward for each client that is attracted. Increased prospect for entrepreneurial growth: being an introducing a broker is a good way to refine your entrepreneurial skills. This is because the platform allows you to earn money by solving the trading needs of diverse clients using your skills and technology. Hence, introducing brokers can accept job roles in marketing, customer relations, public relations, and financial services. Freedom: being an introducing broker implies that you do not have to be restricted to the 9-5 job life. Hence, you can take on other job roles without risking your trading business. The job of an introducing broker offers more flexibility. With your special trading method, you can offer value-driven services to your clients through your broker’s platform. A cost-effective way of generating revenue: being an introducing a broker also requires little to no financial investment. All you need is to only build a solid community of active followers and have decent knowledge about the operations of the forex financial market. Also in carrying out your functions, you do not need to purchase promotional tools and materials since the broker already assign them upon registration as an introducing broker. Provision of multiple ways to boost profit: One of the bonuses of being an introducing broker is that your profit can be made from a variety of earning models. The only thing you would need to activate these bigger earnings is to properly grasp the dynamics of the marketing structure. This is because they earn commissions based on the number of impressions and clicks on the links used in client sourcing. ALSO READ: Small business -6steps to create a successful marketing plan 

Small Business – 6 Steps to Create a Successful Marketing Plan

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6 Steps in Creating a Small Business Marketing Plan

As a small business owner, do you need help to develop a marketing plan for your business success? Do you always need help to keep up with marketing trends that would support the expansion of your company? This article focuses on tips that answer your question. Any business that wants to survive needs to prepare a marketing plan. A proper plan will boost your business and create awareness that will help keep up with marketing trends and increase sales. This post will expose you to the understanding of a marketing plan, the benefits of a marketing plan for the growth of your business, and a guide on how to create a marketing plan for your business expansion. What is a Marketing Plan A marketing plan refers to the action plan that aids in the business expansion of your organization by creating awareness. It is also a written document that outlines how your business will reach its target markets and generate leads with its advertising strategy.  Additionally, marketing plans are part of business plans, which describe each aspect of a business, like its goals, objectives, mission statement, and budget. Below are some of the reasons why small business requires a marketing plan. Marketing plans help small businesses identify their target audience. Marketing plans help small businesses create a strategy to support their marketing objective. It helps small business measure their marketing effort. Marketing strategy helps business owners achieve their objectives by evaluating their success through the marketing campaign. It enables businesses to operate based on their specific goals or objectives. Understanding Marketing Plan  Every marketing plan must aim at specifying their target audience, which they intend to establish with the proper marketing mix to achieve their targets such as product, prices, place, and promotion. Types of Marketing Plan To develop an effective marketing plan for your business, below are a few marketing plans to consider, and each has its unique strategy and objectives.  Social Media Plan. Social media marketing plans include strategies for engaging and advertising with users on various social media platforms. New Product Launch Plan. This plan centers on how your new product will be launched and the purpose must be achieved. It also focuses on the target audience and how the product will be within their reach. Content Marketing Plan. This marketing plan focuses on engaging, attracting, and retaining an existing audience. Using this will require creating and sharing content to educate your audience and create awareness about your business. It may be a video, article, email, podcast, etc. 6 Steps in Creating a Small Business Marketing Plan 1. Set your Business Objectives Setting business goals is a vital step in your marketing plan. Before establishing a business, you must have a goal of what you want to achieve before launching such a business.  Once you have your goals, you can create your marketing plan. Any organization that fails to have a business goal is bound to fail. This goal is what will motivate you to achieve success in your business.  2. Know your Target Audience Your target audience is another essential step when creating your marketing plan. To know your target audience, you must research and understand the needs of your target audience.  Know their areas of interest, behaviors, and what they like, then develop a marketing plan to meet those needs and interests.  3. Use The Right Marketing Channels Using the right marketing channel entails how you present your product or service to the reach of your customers. It also involves marketing channels you use to advertise and reach your audience.  With the proper channels, such as email marketing, podcast, video marketing, content marketing, word of mouth, blogging, Events, Search Engine Optimization (SEO), and many others, your audience will get to know more about your product and the benefits it will present to them.  4. Analyze your Competitors  Researching your competitors will help you stay updated with marketing trends as a business owner. It is also beneficial to learn from top companies in your industry. Know what they are doing right and apply it to your business. It will help you create a successful business marketing plan. You will learn which products compete with your product or service. With that, you will focus on improving your service or product to meet your customer’s needs. 5. Set your Budget Plan  Developing a budget plan for your business will help you accomplish your financial goal. Setting a budget for your business will help you understand your operational cost and track your business performance in terms of finances. With budget, you will know how money flows in and out of your business. 6. Track your Performance  Keeping track of your performance is essential in creating your market plan. Measuring your performance depends on what you want to achieve. You can calculate your goal by identifying your achievements, challenges, and how you can improve on them. You can also break it into smaller units or write it down weekly or monthly. Final Word Creating a marketing plan would help you succeed in your business, even though you want to expand your business or launch a new and existing product. Setting a marketing plan for your business is very important. Before creating your marketing plan, your objective must be specific, measurable, achievable, realistic, and time-bound (SMART). It will help a business achieve its long-term objectives in the success of your business. With the above steps, it is time to start implementing all you’ve learned to create a successful marketing plan for your business.    .  

Advertising:10 Tips to Creating Effective Advertising Contents

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Advertising

Advertising is a marketing approach that uses a captivating message to urge people to take action in order to promote and sell items or services. Advertising’s goal is to impact people’s views and behaviours towards a product or service by using multiple mediums such as print, television, radio, web, outdoor billboards, and social media. Advertising works by capturing people’s attention with a compelling message that speaks to their wants and desires. Emotional appeals, humour, celebrity endorsements, narrative, and other strategies are used by advertisers to produce a persuasive message. The goal is to increase brand awareness, generate leads, and increase sales by communicating the benefits and value of the product or service. Advertising can also target specific populations based on demographics, interests, and behaviours. This article is, therefore, aimed at revealing how to create appealing and effective contents that will create good awareness to businesses and also foster growth.  10 Tips to Creating Effective Advertising Content There are numerous crucial components to creating appealing and memorable advertising messaging. Consider the following strategies: Understand your intended audience: Understand who you’re attempting to target, as well as their needs, desires, and preferences. Conduct market research and create customer profiles to obtain insight into the demographics, behaviours, and motives of your target consumer. Tell an engaging story: Storytelling is a strong method for emotionally connecting with others. Create a story about your product or service that is relatable, memorable, and appealing to your target audience. Engage your audience by using tales, humour, or real circumstances. Emphasise benefits and unique selling points (USPs): Communicate the value and benefits of your product or service clearly. Emphasise your uniqueness to distinguish yourself from competitors. To back up your claims, use convincing language and actual examples or facts. Create a powerful title or hook: A strong headline or tagline that piques interest will capture attention and stimulate curiosity. Make it memorable, brief, and powerful. To differentiate yourself from the competitors, consider using wordplay, humour, or emotional responses. Make use of imagery and graphics: Make use of eye-catching, high-quality visuals that reinforce your message. Images, movies, or graphics can frequently more successfully convey emotions, advantages, or ideas than words alone. Make sure your images are consistent with your brand and leave a lasting impact. Keep it basic and to the point: Avoid overloading your audience with too much information or complex thoughts. Concentrate on conveying a clear and straightforward message that can be easily comprehended and recalled. Avoid using jargon or technical phrases that may confuse or alienate your readers. Be honest and relatable: Make an effort to develop a true and sympathetic relationship with your audience. Demonstrate empathy, comprehension, and real-life scenarios that represent their experiences. Make your commercials more relatable and trustworthy by using real people or relatable characters. Use repetition and consistency: Use comparable imagery, taglines, or themes to create consistency across your advertising campaigns. Repetition helps to strengthen and remember your message. However, avoid becoming overly repetitive to the point of discomfort. Call to action: Give your audience a clear and appealing call to action that tells them what you want them to do. Whether it’s completing a purchase, signing up for a subscription, or visiting your website, a persuasive and actionable message will lead people to the required action. Test and optimise: Monitor and measure the effectiveness of your advertising messages on a regularly. Conduct A/B testing to compare various techniques and identify the most effective strategies. Solicit input from your target audience and make changes based on what they say. It is important to remember that producing appealing and memorable advertising messaging is an iterative process. Making a lasting effect on your audience involves experimentation, innovation, and adaptability.    

Entrepreneur: 7 Reasons Why You Need A Website

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Entrepreneur: 7 Reasons Why You Need A Website

Is having a website for your business worthwhile? Many entrepreneurs have asked this question severally. To explain that, websites allow entrepreneurs to attract potential customers and provide them with all the necessary information about the business. Moreover, many people prefer doing business with companies that have an online presence. The internet has become a significant source of information for many today. A lot of people spend most of their time online, looking for information, either on the type of product to purchase or services to subscribe to,  watching movies, or taking an online course.  With these trends, business owners have understood the importance of being online and how people spend more time online. So, they have started moving their business and service online for more visibility.  A website allows you to grow your business using several digital marketing strategies. It also helps market your products and services online and builds credibility. Every business needs to build a website. Creating a business website is easy. It is necessary for your company for many reasons. Let’s explore some of the reasons why you need to build a website for your brand. 1. Brand Awareness A website assists you in creating brand awareness. Most people trust brands that establish an online presence. It helps you showcase your brand to your target audience. It helps your customers establish trust with your brand.  When people search for a product similar to yours online, your website may pop up, thereby allowing those visitors to view your product and get all the necessary information about your business.  Creating a website reveals credible information to customers, which may set your brand apart from competitors. 2. Grow your Business 24/7 A website allows you to market your product or services online 24/7, which means your potential customers can asses your business any time of the day. As your competitors have an online presence, ensure you increase your brand awareness with a structured website. It will help you attract more leads which will in turn lead to an an increase in sales. 3. Cost-effective Marketing One of the most cost-effective marketing tools for small businesses is a website. It is very cheap to set up. With the right marketing strategies in place, you can generate more leads and sales.   To set up a successful and competitive website, you need well-researched, quality content with search engine optimization.  4. Generate Leads One reason to build a website for your small business is to generate leads. Websites help generate leads and increase sales, without having to pay for it.  As people search online daily, they may come across your company and gather information about your products and services. Even if they are not interested, they may check back later.  A website is the best way for potential customers to collect information about your business. Your website lets customers view your contact details, including address, email, and phone number. It can lead to growth and opportunities to increase your sales volume It lets you collect visitor information through an opt-in form,  and newsletter subscription, which you can follow up and convert to paying customers.  5. Targeting a Larger Market Regardless of the size of your offline market’s sales volume, having a website will increase your sales because you are targeting a wider audience when you have an online presence. You can connect with both local and potential clients worldwide by creating a website.  6. Strong Customer Support  Building a website helps improve your interaction and connection with potential customers. It will help customers access all the information available for the product through the customer support page on the website. When you provide frequently asked questions on your site, these will help answer all the questions bothering them. The website provides easier access to attract customers. 7. Build Credibility A well-set-up website establishes your brand. Listing your business address on your website shows how credible and legitimate your business appears to your customers. When you advertise your business, people search for your website to ensure you are genuine. If your business is credible, they will be convinced enough to purchase from you.  Many people believe that once a business has a functioning website, its business or services are genuine. So, build a website to protect your company against a nasty reputation. It is necessary to attract potential customers and increase sales. Finally, a website is essential for the success of your small business. When you build a website, it will serve as the virtual face of your company. It will also serve as a platform to connect with targeted customers and showcase your products and services.  When you establish a well-structured website with the right digital marketing strategy, you will establish a connection with your target audience, which will lead to sales conversion. With the above reasons, it is time to digest, and then plan to build your website for brand awareness.   

10 Tips to Manage Your Time Effectively for Productivity

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10 Tips to Manage Your Time Effectively for Productivity

Many people have been struggling to manage their time effectively to complete their daily tasks. Some frequently find themselves overwhelmed and stressed out with pending tasks. Some find it difficult, but this article will assist you in understanding how to manage your time effectively. “Excellent time management is a  source of energy, enthusiasm, and a positive mental attitude.”  Brian Tracy Time management behaviour is a matter of choice. You may decide to focus and concentrate on your highest-valued task or decide to spend your time on activities that bring little value to your life.  What is Time Management? Time management is the act of scheduling and planning your time to achieve your daily tasks. Time management helps us to reduce stress and anxiety, which can lead to less productivity. It is also a great tool to fight procrastination. Why is Time Management  Important The capacity to manage your time effectively is crucial to your success. When you have good time management, it enhances efficiency and productivity. It relieves you from stress thereby assisting you to accomplish tasks faster.  Time management is crucial in everyday activities. It has a positive effect, especially in an organization.  Most staff members are expected to maintain effective time management to carry out their specific tasks and track their progress for maximum results. Below are some benefits of managing time effectively. Reduce stress Goal achievement  Increase focus Increase motivation  Improved level of productivity  Tips for Managing Time Effectively  Having discussed the benefits of time management, let’s glimpse through some of the ways to effectively manage time for positive results. 1. Set Goals Ensure you break your goal into short and long term. When you have a detailed and clear goal utilizing the SMART strategy,(specific, measurable, attainable, relevant, and time) will help you to be motivated and focus on your task. 2. Prioritize your Task Prioritizing tasks is very important in managing your time. When you schedule your task it will assist you with a  task that requires urgent attention. Practicing this will help improve your time management.   3. Set Deadline Setting a particular period for completing a task assists you to concentrate and organize your tasks. Allocating time for each project allows you to stay productive and meet deadlines. No matter the task you are working on, ensure you understand the exact time needed to complete such tasks. 4. Set Limits Set limitations for yourself, when it comes to handling tasks. Learn to say no to tasks that are not in line with your plan and objectives. Avoid being distracted by things or people around you and minimize unnecessary social media distractions. 5. Take Break To be productive, always set out time to rest. Resist working continuously, otherwise, you may become less productive. Practice taking a short break in between tasks. It may be in the form of taking a walk, relaxation, or any activities that will help you stay motivated.  It has a long way to refuel your energy. 6. Create a To-Do List When you create a to-do list, it saves you time. Writing your task down has a way of reducing your stress. Having a list motivates you and keeps you focused. A to-do list serves as a tool for tracking your progress and managing your time for effective results. As you create your list, ensure you tick each task that has been completed each day, doing that will help you track your progress. 7. Focus on One Task at a Time Focusing on one task is necessary for managing your time effectively. Once you are on a task, see through it before grabbing another one. Doing that will not only help you stay focused but help you stay organized.  Multitasking can sometimes lead to unfinished tasks. Avoid handling two or three tasks at a time, so that it will not result in procrastination. 8. Begin with the Major Task When you begin your day with the major tasks, you will be surprised how effective and productive your day will become. So it is necessary to grab the main task first to manage your time effectively. The reason is that you are likely to be focused, and productive, especially in the morning. 9. Evaluate Time Allocation This has to do with keeping track of how you spend your time daily. Evaluate yourself and know exactly how you consume your time. Examining your time will prompt you to figure out which task you have been wasting time on. Understanding that will help you adjust. This will help you stay productive and profitable. You can utilize a time-tracking system. to achieve your goal. 10. Utilizing Time Management Software There are time management software that can help manage your time effectively, such as  Calendar.com Clockify Proofhub Asana Harvest Moreover, ensure you use your time judiciously for an effectual result.   Final Thought Effective time management is essential as it assists you in how to use time wisely for productivity. Whenever you are in control of your time, you become more focused which will result in more productivity and positive outcomes. Meanwhile, managing your time is a continuous process that calls for dedication and self-discipline. When you enforce these tips in your personal or work life, you will experience success in your career.  

6 Reasons Why Most Business Plans Fail to Succeed

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6 Reasons Why Most Business Plans Fail to Succeed

“Without a plan, even the most brilliant business can get lost. You need to have goals, create milestones and have a strategy in place to set yourself up for success.” ~ Yogi Berra Almost every entrepreneur starts their business for various reasons, which is why most business plans fail. To some, promising forces drive their attention to set up a business. For others, lack of unemployment causes them to establish a business to survive. Moreover, you will agree that many people start businesses to have another source of income to complement their salary. Some also established a company to use as a source of encouragement to help others develop their community and create job opportunities for people.  Most of these businesses grow over time and stand the test of time, while some crash within a year or two starting such an entity. We will discuss why a business plan fails to achieve growth. Reasons Why Most Business Plans Fail to Succeed Some causes of this failure are as follows. 1. Inadequate Planning It is important to note that many businesses can only succeed with good planning. Many entrepreneurs are in this phase of starting a business without a plan for executing and running a smooth business and succeeding in such a business. Failure to draft a roadmap for your business means you are unsure where and how the company will grow. As an entrepreneur, knowing what you want without planning how to achieve it leads to failure. That is why the saying goes thus:” When you fail to plan, you plan to fail.” Meanwhile, it would be best to have proper planning for a successful business setup. These will help you structure and allocate resources that will enable you to achieve your business objective. 2. Absence of Financial Planning Starting a business requires owners to research the type of business they want to embark upon. It is also necessary to know the financial requirements for the said business. Please do this at the initial stage to avoid business failure. When setting up your financial plan for your business operation, consider location, equipment cost, expenses, salaries, insurance, and many more. Furthermore, you are already on your way to failure by ignoring all these costs. If you need help with a financial plan, seek an expert to help create a proper one. Doing this will help your business to remain profitable and stand against external forces such as competitors and governments. 3. Inadequate Marketing Strategy  Another reason that causes business plan failure is insufficient marketing strategy. To reach a wider audience or customer, communicating your business ideas to the right audience is of the essence.  Understanding your customer’s needs and what they want to achieve from your product will enable you to provide a product or service your customers must accept. 4. Inadequate Management  Many business owners have yet to acknowledge some mistakes they encounter in their business operations, leading to business failure. If business owners should understand their strengths and weaknesses, they can run a successful business in the long run. Moreover, as a business owner, lacking management expertise may negatively affect the survival of your business. To solve this problem, ask yourself questions about your weakness and how to overcome it.  Another question to ask is, who are your team members?  How often do you plan to train your staff? As a business owner wanting to make his vision a reality, you must answer some of these questions. When you do, it will help you avoid the adverse effects of your management plan.  5. Bad Motivation The reason why wrong motivation can fail your business plan is when you have a negative mindset. Starting your business requires a positive attitude. People have so many reasons why they establish a particular business structure.   You will only achieve your purpose when you start a business with the right motive. People start a business they feel they can run effortlessly and effectively.  Some set up companies to make earnings and become a source of income for others.  Some set up businesses to control a larger market and make huge sales. Looking into this, so many have established a company, succeeded for a while, and crashed at some point. The reason is not far-fetched; it is due to the industry set up with the wrong motive. You will agree today that many have business with improper motive of duping people to make it big without proper structure. It has led to the crumbling of so many companies. Notwithstanding, setting up a business with the right motive helps business owners stand the test of time.  6. Lack of Mentorship and Inexperience Business owners could benefit from adverse conditions only by consulting a business mentor. A good mentor has the knowledge and expertise to help business owners recognize their potential and setbacks they may likely encounter in running their business. As a result, mentors are in a better position to help them achieve their business goals. Most entrepreneurs are adamant about following trends and what is new in the market. It has stopped them from realizing the unique opportunity to help them scale through.  Most prefer to stick with their old ideas and operations, which may lead to business failure. The only solution for them is to seek the help of mentors, especially those who lack experience, to have successful business operations. Conclusion  Having a failed business plan as a business owner has a severe adverse effect on your business operations. Your business will succeed only when you have proper planning and good management skills. With the above reasons, ensure you pick the one you know has threatened your company and work on it. By so doing, you will have a successful business.  

The role of Health Maintenance Organization (HMOs) in Nigeria, providing in a proficient way, Proper Medical Services

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20231026 202037

Healthcare is vital in any country, the well being of the citizens should not be ignored, and it is the duty of the government that they receive the best of healthcare at an affordable and accessible rate and to Nigerian government, it is the establishment of HMOs. The NHIS earlier years was a scheme set up by the government to cater to the needs of Nigerian workers, and over the years, the NHIS are the regulatory agency to cater for HMOs. The introduction of HMOs (Heath Maintenance Organization) is one of the best options the Nigerian government chose to make health services affordable and accessible to citizens. They are subservient to the NHIS who set regulatory framework for their operation and promoting quality healthcare in Nigeria. In Nigeria, the National Health Insurance Scheme (NHIS) was created as a social network program to provide easy access to quality healthcare in Nigeria at affordable cost. All registered Nigerians, received from the social health insurance programme healthcare coverage that needs to be paid for from a common pool of funds contributed by other participants. HMOs in Nigeria Healthcare System Health Maintenance Organization (HMOs) was formed as private entities to serve as agents of the NHIS and cover both the public and private sectors. HMOs is a Formal Sector Social Health Insurance Programme that serves as a social health security system in which the healthcare of employees in the Formal Sector. Funds are paid for from the pooling of contributions made by employees and employers. Contributions for accessing healthcare using HMOs can be accessed by government entities,  private entities, and individuals. To secure health insurance, you will have to find an insurance provider (HMOs) with unique features that fit your health needs. HMO insurance provides health insurance coverage for a monthly or annual fee and is only limited to medical care. Some Key Takeaways on HMOs HMOs plans require that you first receive medical care services from a provider known as the primary care physician (PCP) assigned to you. They become your custodian of healthcare services, and you chose from the list of options offered to you by the HMO. There are two types of healthcare plans that are alternatives to HMOs. They are Preferred Provider Organizations (PPOs) and point-of-service (POS) plans. You chose either the PPOs or POS plan when subscribing for an HMO. Your HMO plan mandates you to see your PCP first, who will refer you to an in-network specialist. The PPO plan allows you to see a specialist without referral. This depends on your subscription rate, and your rate determines your service. Your HMO plan warrants you to within your network of providers to receive coverage. With a PPO plan, you still have a network of providers, but you aren’t restricted to seeing just those physicians. It will also be important to note for your well-being that HMO provides more comprehensive coverage to you. HMO can be accessed by employers and employees of public and private sectors, informal sector employees, and other residents of Nigeria. The creation of HMO is to ensure that quality healthcare is rendered to all participants, and the NHIA act of 2022 regulates the actions of HMO. It is essential that you register with an accredited HMO that meets your health needs to ensure you get proper medical service proficient anytime, any day. It is worthy to note that healthcare is fundamental for citizens of a country. NHIS and HMOs play crucial roles to achieve this goal and this is by providing affordable and accessible healthcare. Benefits of HMOs in Nigerian Healthcare HMOs serves as agent of the NHIS and they offer range of benefits to you which include:   Reduced cost price. HMOs negotiate lower price with healthcare providers to save expenses for their members. Improved healthcare access. Accessing healthcare providers through HMOs is easier. Members get care from network of healthcare providers.