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Showing posts from January, 2022

How to set smart goals and achieve your business targets

How's it going with those resolutions? Have you taken any action? Are you happy with your progress? Or have you decided to wait till January next year to start afresh? Don't be too hard on yourself. We often start the year off with these ambitious goals, but after a few weeks, we find ourselves back at square one... and most of the time we aren't even surprised. We knew it was coming. Why most goals aren't achieved Most goals get neglected because they are: I. Too big- so we don't even know where to start. II. Too far ahead- so they don't seem immediate. A little nap won't hurt, I'll do this tomorrow III. Too vague- we aren't sure what to measure IV. Out of touch- the motivational speaker forgot to tell us to start small even when you aim big V. No one to hold us accountable- we leave that to ourselves... and who are we kidding?🙄 VI. We ignore the small wins- so it doesn't seem like we're making any progress This can be solved by setti

4 tips to make you a more productive entrepreneur

  Most entrepreneurs and small business owners operate based on a system known as “Whateverifeelliketoday”. In other words… They have no system. They treat their business like a hobby. They don’t track KPIs. They don't keep decent records. They don't have clearly written goals, and have no systems for managing their employees. Make a commitment to change that this year. This starts with outlining your overall strategy and figuring out what matters to your business. Use the following tips to help you get going. I. Identify your primary metric  Figure out one key metric upon which the survival of your business depends. In most cases this is Revenue/Sales or a metric that directly drives your revenue [Examples of key metrics: • A photographer can measure bookings/number of photoshoots • A tutor will measure number of students • A baker can measure number of cake orders • An influencer/artist could use number of followers/views etc.] II. Find an accountability partner Once you'

The journal of an African tech startup founder part 2: My biggest risk

When people think of the risks associated with starting a business they think of losing money, low product demand, theft, loss or some other calamity befalling their enterprise. These are all pretty unfortunate events, but over the years my understanding of entrepreneurial risk has changed and in this article I'll explain why. Growing up, I wasn't one of those kids who had their path figured out. The most logical career path for me would have been a teacher like my dad, or a doctor(that's the response we gave to seem ambitious and impress whoever asked). However after cringing at the pictures of people with STIs during a sex education class, I was convinced I'd have to leave the medical profession to someone else. My first job was as a primary school teacher. I was 18, fresh out of high school and dating a girl 6 years my senior. Needless to say, our priorities at the time were much different. I was purely in love, and she was thinking of settling down. So she would alw

The journal of an African tech startup founder- Part 1: The backstory

This is it. My first article for the Journal of an African tech startup founder. I've had this idea for a while but I've been reluctant to start. The first reason is because I am still new to this. I feel I haven't yet built much of a resumè (no fundraising, no successful exit, no Forbes mention etc.), so I wonder if anyone would be interested in my story. Like, do I really have something significant to say? The second reason is fear. I've found myself thinking: "what if I invite everyone on this journey, and then I fail?" I wouldn't want the world to see me lying flat on my face in a pile of sh..ame. However, I've also asked myself why I want to do this in the first place. This article will give some background and add some context to my motivation for writing. Let's start with some background. My name's Likhwa and I am a self taught programmer. I got interested in programming around 2004. At the time, I was in my sophomore year at varsity. Af

Everything you need to know about startup funding

One of the major challenges that startups face is raising capital or acquiring funding to help them start or grow their business. Capital is often exchanged for equity and is used by businesses to build products, hire key staff and expand into new markets. In this article we will cover everything you need to know about startup funding and what you can do to position yourself to get funding. Table of contents i. Factors to consider ii. Sources of funding iii. Types of funding iv. Series funding v. What investors consider vi. Questions to ask yourself before seeking funding vii. Conclusion FACTORS TO CONSIDER WHEN SEEKING STARTUP FUNDING Every business goes through a number of stages during its lifecycle. Just like a baby first lives on milk, before they can handle solid meals, even small businesses need to start with simple funding models and then graduate to more complex ones. It is therefore important to understand the various stages in