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HP EliteBook 745 G4 Review: A Business Notebook With Fast Charging Battery and AMD PRO Processor

If you want a cost-efficient business laptop that will help you unleash your full potential, then look no further than the HP EliteBook 745 G4. It’s incredibly thin and fully featured with USB-C, enterprise docking capabilities, 500GB hard drive, AMD Radeon R5, a powerful processor, and more. The notebook is designed to boost your performance and help you achieve enhanced productivity.

This model has a 14-inch screen size which is available as both a non-touch and touch display. The base option is an HD SVA anti-glare LED-backlit display with a resolution of 1366 x 768 and camera. There are a variety of connectivity features such as a DisplaPort and VGA.

The computer operates with a 65-W Smart AC power supply adapter and a three-cell Li-ion 51-Wh battery, which can last for up to 11 hours per charge. Thanks to HP Fast Charging technology, the battery is fully recharged in hardly any time at all. The EliteBook is ENERGY STAR certified and very energy-efficient.

For file and data storage, a 500GB internal SATA hard drive (7400-RPM) is equipped. The expansion slots include 1SD and 1 external micro SIM, which support SD, SDXC, and SDHC memory card readers. External I/O ports allow you to not only connect accessories and other devices to the HP EliteBook 745 G4, they also allow you to charge those devices. These ports include two USB 3.0 (one for charging) and one USB Type-C. You also get a microphone and headphone combo port.

The webcam is 720p HD and the keyboard is spill-resistant and backlit. The pointing device is a touchpad featuring an on / off button, two pick buttons, and support for two-way scrolling and various gestures.

HP EliteBook 745 G4 Processor and Connectivity

The processor that comes with the 745 G4 is an AMD PRO A8 APU (9600B) starting at 1.6GHz and up to 3GHz. It’s a quad-core processor with 2MB cache, and works together with Radeon R5 graphics to provide you with all of the power and performance you need. The 4GB DDR4 1866-SDRAM memory provides sufficient speed. There are 2 SODIMM memory slots, so add some more if you need it.

This notebook can connect to public and home wireless networks via 802.11 ac (2×2) Wi-Fi technology. The Gigabit Ethernet LAN jack can be utilized for an even more reliable and fast internet connection. Bluetooth 4.2 is also included.

Overall, the HP EliteBook 745 G4 is a good notebook that offers a lot of value for its price. It’s definitely worth having for business users. However, it works just as great as a personal notebook if you want to use it for entertainment.

Save on this laptop, workstations, printers, accessories, etc… when you use HP promo codes. You can’t go wrong when you shop online for computer deals. Just click on the HP EliteBook 745 G4 coupon you want to use, or enter the promo code into the online order form and you’re ready to go.

Business Enterprise – The Key to Change in Nigeria

Nigeria currently stands 41st in international GDP rankings, according to the IMF World Economic Outlook Database – its largely oil-driven economy pegged at $165 billion. This marks a fourfold increase over ten years from just $36 billion in 19971. Progressive policies undertaken in the years following the installation of a democratically elected government in 1999 takes the credit for this remarkable increment. The Nigerian Economic Policy, 1999-2003, is specifically to praise for incorporating far-reaching measures that have helped enable Nigerians with access to technology and education.

A vigorous disinvestment programme involving public sector units in oil marketing, communications and port operations boosted private sector participation and led to the creation of jobs and ancillary businesses. The spirit of economic reforms was further evident when oil prices were deregulated in 2003 and four national refineries were privatised. However, these and other initiatives have not succeeded entirely, and Nigeria remains “information poor” in the context of utilising computing power in the industrial process. Further, and although digital networks have come up in recent times, the communications infrastructure continues to suffer massive deficits.

For average Nigerians, what has improved in recent times is access to technology, and a new breed of emerging entrepreneurs are harnessing the power of the Internet to start model ventures and strike global partnerships. While their contribution as foreign-exchange earners is minor in terms of the Nigerian economy, the significance of their innovation, in the context of Nigeria’s past economic stagnation, can hardly bee overlooked. What is optimistic for the government and Nigerians in general is that such stories of successful Nigerian enterprises are starting to gain in frequency. Even though the rate of progress has been slow, the country is decidedly on the right track as far as promoting business development goes.

Nigeria is currently the United States’ largest trading partner in sub-Saharan Africa. In 2008, the USA imported Nigerian goods (predominantly oil) worth $38 million. The figure is up from $32.7 million in 2007 and indicates a growing US dependence on Nigerian oil, which currently accounts for almost 11% of its import requirement.

The Paradox

The ‘Nigerian Paradox’ is a frequently cited economic phenomenon that describes the condition of sweeping poverty and abysmal human development indices in a country of abundant natural recourses that earns billions in annual petrodollar revenue. The economic decline of Africa’s most populous nation began right after the oil boom of the 1970s, when political corruption and non-inclusive policies plunged the vast majority of Nigerians into degrading poverty. Subsequent decades of civil and political unrest and the continuation of outdated policies made Nigeria a virtual untouchable for international investors. Over the years, the deteriorating security situation was paralleled by a simultaneous decline in infrastructure that killed existing businesses and made the emergence of new ones impossible. The corresponding human toll was even more disturbing as the country plunged into decrepit poverty and economic despair.

Because of the deep fissures in its history, Nigeria’s emergence from a disturbing past has not been smooth. The recent reversal of some of its fortunes has come at a steep price and the country continues to lag behind in vital indicators. A historic overdependence on oil skewered agriculture and local industries and created massive economic imbalances that are still far from being corrected. Rampant unemployment and inflation have created a climate of youth unrest that precipitated in violent militancy in the oil-rich but volatile Niger Delta region, together with rising levels of organised crime. Severe infrastructure deficiencies – especially in power, roads and communications – widened the rural-urban divide and provoked large scale migration into towns. Official indifference and inhibitive policies spawned a gigantic informal economy that continues to grow and operate outside the ambit of government regulation despite furious policy redirections in recent years.

Surprisingly, this unorganised sector currently contributes 65% of Nigeria’s GDP and accounts for 90% of all new jobs.

The Improvements

There have been a number of improvements fostering business growth. They include:

* Entrepreneurs have more control over their lives and have obtained social and financial security for their families.

* The Nigerian government has now made it possible for Nigerian products to be shipped to Europe and the United States.

* Entrepreneurs in Nigeria are being offered tax incentives in order to promote further enterprise development.

* Modern technology is making its way into Nigerian culture, taking the country closer to self-sufficiency in the technology sector. However, it is an ongoing process that that banks heavily on government aid.

Opportunities

Established in December 1999, The Small and Medium Enterprises Equity Investment Scheme (SMEEIS) instructed all Nigeria’s banks to put aside 10% of their pre-tax profit for investment in small and medium sized enterprises. This was to present an opportunity for those looking to break into a business of their own. Sadly, as of 2006, only 26% of this funding had been used.

The Nigerian Small and Medium Scale Industries Development Agency (SMEDAN) is another important player in the country’s efforts to boost entrepreneurial spirit. Although it’s still a rather young organization, it is making a positive difference.

Skills and Ideas Development Initiatives (SKIDI) is an NGO that is helping entrepreneurs realize their dreams in Nigeria so that they can obtain the freedom that they desire. There is a specific focus on rural and suburban Africa, especially since rural areas have seen more poverty. The poverty rate in Nigerian rural areas stood at 40% in 2001, compared to the 35% in urban areas where more businesses are prevalent.

Bridging that gap happens to be just one of the many challenges on Nigeria’s road to prosperity.

The CEO’s Guide To Succession Planning – Managing Risk & Ensuring Business Continuity

Introduction

Once reserved for the upper echelons of senior management, and often viewed as replacement planning should catastrophe strike, today’s succession planning is being redefined. The discipline has broadened in both breadth and scope to become a central component of board-level strategy.

Succession planning focuses on managing risk and ensuring continuity across all levels of the organization – risk of untimely departures of critical personnel, risk of retirees taking their skills and knowledge with them and leaving nothing behind, and risk of losing high value employees to competitors. It does so by helping your business leaders to identify top performers within the organization, create dynamic “talent pools” of this critical talent that other leaders can leverage, and prepare and develop these high performing employees for future roles.

If this was easy, everyone would be doing it. The problem that exists today is that succession planning is barely automated, let alone optimized. This CEO guide provides five key tips for jump starting your succession planning efforts.

1. Automate and Reduce Costs

Today’s succession planning efforts are characterized by fragmented, inconsistent, paper-based processes. Indeed, 67% of companies are still primarily paper-based, according to a global survey conducted by SumTotal.

Conventionally, business and HR leaders will spend weeks or even months manually scouring different parts of the organization for information needed to build lists and pools of nominees and successors for specific job families or positions. The information required to generate the lists often includes self assessments, past performance appraisals (often paper-based), and 360 feedback. After a lengthy period of information gathering and aggregation followed by manual analysis (e.g., nine-box, gap analysis), the results are printed and collated into large three-ring binders for use in executive planning meetings. This time-consuming, inefficient, and costly process is still commonplace today.

To effectively transform succession planning from a manual, paper-based process to one that is systematic and technology-enabled, CEOs must focus on laying a solid foundation supported by strong executive leadership.

Program & Process Foundation

Establish dedicated management function (e.g., program management office) with CEO-sponsored executive leader or council (with senior representation from line-of-business, geography, and corporate HR)
Define core succession process along with key constituents and tasks at each step of the process; Clearly articulate touch points to other business processes (e.g., performance management, career development)
Understand implications of change with emphasis on managers & employees
Align program with broader business strategy
Determine initial scope (e.g., enterprise-wide, divisional)
Define processes independent of technology

Technology Foundation

Must support and enable key processes
Must integrate learning and development
Must link seamlessly to other business processes, especially performance management
Must be flexible and configurable to meet unique needs
Must centralize and consolidate key information and data
Must be easy for managers and employees to use

2. Drive Succession Planning Deeper into Your Organization

Many CEOs still view succession planning as replacement planning to designate successors in the event of a catastrophe befalling senior company leaders. Indeed, succession planning penetrates only the highest levels of the organizational hierarchy, according to survey data. Only 35% of companies currently focus their succession planning efforts on most critical roles within the organization.

Yet a most dramatic transformation is underway: 65% of the organizations surveyed plan to extend succession planning to all critical positions within the two years. Applying succession planning beyond the top layers of management is critical to retaining high performers across all levels of the organization and mitigating the risk of untimely departures of personnel in high-value positions.

The key to extending succession planning into the organization is to provide career development planning to employees. Indeed, fully 97% of business and HR leaders believe that a systematic career development process positively impacts employee retention and engagement. These leaders also believe that providing career advancement opportunities as well as dedicated development planning to employees are the two most important mechanisms for retaining high performers.

Retaining existing employees not only has the potential to minimize the effects of talent shortages, it also provides significant and tangible cost savings (since replacement costs range from 100%-150% of the salary for a departing employee).

3. Establish Dynamic Talent Pools to Improve Pipeline Visibility

Centralized talent pools provide CEOs with global visibility into their talent pipeline and overall organization bench strength. They provide a mechanism for ensuring that the organization’s future staffing plans are adequate, thereby reducing risk and ensuring continuity. To be truly effective, talent pools need to be dynamic in nature. For instance, if an employee is terminated, that person should be automatically removed from existing successor pools. Alternatively, if an employee closes a key skill or certification gap that had previously kept her from being considered as a successor, the pool should be updated appropriately. Talent pools that are inaccessible or not up-to-date are of little use to decision makers.

A key element of making talent pools accessible is in-depth searching for talent exploration. A talent pool is not much good if managers cannot easily view, track, update, and search for potential successors. Dynamic talent pools should take the guess work out of succession planning by aligning employee assessments, competencies, development plans, and learning programs. Proactive system monitoring ensures that as employees learn and grow, talent pools are dynamically updated to reflect the changes. It is this element in particular – supported by robust reporting and analytic capabilities – that helps CEOs make more objective staffing decisions and better plan for future staffing needs.

4. Promote Talent Mobility to Retain High Performers

Industry analyst firm Bersin & Associates defines talent mobility as “a dynamic internal process for moving talent from role to role – at the leadership, professional and operational levels.” The company further states that “the ability to move talent to where it is needed and by when it is needed will be essential for building an adaptable and enduring organization.”[1]

Talent mobility is:

A business strategy that facilitates organizational agility and flexibility
A mechanism for acquiring and retaining high performing and potential talent
A recruiting philosophy that favors internal sourcing over costly external hiring
A method for aligning organizational and individual needs through development
A proactive and ongoing approach to succession planning rather than a reactive approach

A systematic talent mobility strategy enables business leaders to more effectively acquire, align, develop, engage, and retain high performing talent by implementing a consistent, repeatable, and global process for talent rotation. Without a cohesive talent mobility strategy, CEOs face several risks:

Focus on costly external recruiting vs. internal sourcing
Wrong hires (cost can be 3-5x person’s salary)
Increased high performer churn
Reduced employee engagement
Reduced flexibility as business conditions change

CEOs should consider the following integrated processes – and a complete technology platform to support them – to promote and enable talent mobility:

Current workforce analysis:Includes detailed talent profiles, employee summaries, organization charts, competencies, and job profiles.
Talent needs assessment: Assess employees on key areas of leadership potential, job performance, and risk of leaving.
Future needs analysis:Development-centric succession planning to create and manage dynamic, fully-populated talent pools.

5. Integrate Succession Planning to Broader Business Processes

Succession planning is not a silo. It implicitly relies on other talent processes and data, especially assessments that provide a performance and competency baseline. Yet unlike a performance management process, which can be executed in a relatively self-contained fashion (assuming it has access to core employee data), the same is not true for succession planning.

Succession planning requires foundational data (e.g., competencies, job profiles, talent profiles, and employee records) and inputs (e.g., appraisals, feedback). Outputs include nominee pools, successor pools, development/learning plans, and reports. To facilitate the level of integration required to get succession planning right, a single, natively-integrated technology platform that centralizes key talent processes and information is required. With this single platform, the time to develop succession plans can easily be reduced from weeks or months to mere hours. The benefits can be significant: reduce costs, reallocate personnel from tactical activities to more strategic endeavors, and mitigate the risk of untimely departures of essential personnel.

Additionally, a single technology platform promotes the linkage of learning and career development to succession planning. By bridging these processes, nominees who are not ready for advancement can be assigned detailed development plans that guide them to improve the competencies and skills required for new job positions. Learning paths and specific courses can be established for employees to facilitate their career growth. By providing learning opportunities and development plans to employees, CEOs can take a more active role in promoting employee growth, retention, and engagement.

Finally, with a single system of record, reporting and analysis is vastly improved, since all relevant talent data resides within a single data structure. Strategic cross-functional metrics can be readily established (e.g., measure the impact of learning and development programs on performance). Reporting and analysis are key to the CEO’s success in managing employee resources and implementing strategies that support corporate objectives and initiatives.

Conclusion

Organizations can realize significant efficiency gains and cost savings by moving from a manual, paper-based succession process to one that is fully technology-enabled. The shift to a single technology platform facilitates extending succession planning deeper into the organization, since a well-architected solution seamlessly links succession to career development and learning. A complete platform improves senior management’s global visibility into the talent pipeline and bench strength, and promoting talent mobility to retain high performers becomes a viable engagement strategy. Succession planning, done correctly, is all about process and supporting technology integration. Without integration, succession planning becomes just another organizational silo.

Endnotes

[1]Lamoureux, Kim. “Talent Mobility: A New Standard of Endurance.” Bersin & Associates, November 30, 2009.

HP ProBook 650 G3 Review – A Must-Have Business Notebook With Security and Collaboration Features

This is a good choice of a business notebook with its smooth system performance, easy deployment, and security features. You can count on getting the most from your investment with the HP ProBook 650 G3, as its configurations support all of today’s technological requirements. It can be described as a 15.6-inch mid-range business laptop.

The 15.6-inch display has anti-glare and LED-backlit technology. The base / cheapest configuration option has a display resolution of 1366 x 768, but you can opt for a better one if you choose a different configuration. It also comes with a 720p HD camera for video-chatting. The stereo speakers and microphone are integrated.

Even at peak performance, the notebook does not overheat. All of the components stay relatively low, no matter what kinds of tasks you have running. The premium keyboard is designed to be spill-resistant and easy to care for. The touchpad has an on / off button and supports two-way scrolling, two-finger zooming, tapping, and a variety of other gestures.

The overall design of the HP ProBook 650 G3 is nice, and it has a starting weight of 5.1-lbs, making it an average-sized business notebook. With special security features such as HP BIOSphere, you have everything you need to prevent downtime and data breaches. Theft prevention is provided with TPM 2.0 technology, HP Fingerprint Sensor, Password Manager, and the lock slot, although the lock itself is sold separately.

HP ProBook 650 G3 Specifications

The base model comes with the following:

• Dual-core Intel Core i5 processor (7th generation) 2.5 Ghz / up to 3.1 Ghz with turbo boost

• 2 SODIMM memory slots / one occupied with 4GB DDR4 2133 SDRAM

• 128 GB SSD drive M.2 SATA TLC

• Intel HD integrated graphics (620)

• DVD-writer optical drive

• Windows 10 Pro OS 64

There are options to go with a more powerful processor and expand the memory if you require more.

It comes with everything you need for collaboration, no matter where you take the laptop to: HP Audio Boost, Noise Cancellation Software, Skype, 720p webcam, etc. The three-cell, 48-WH Li-Ion prismatic battery has a long life and can run for several hours. The power supply is provided via a 65-W Smart AC adapter.

You get the newest dual-band wireless AC (2×2) technology combined with Bluetooth 4.2 for networking. The laptop offers support for SD, SDXC, and SDHC card reading. Connectivity is simple thanks to the 2 USB 3.0 (one for charging) ports, 1 Type-C USB port, DIsplayPort, VGA port, and more.

Overall, the HP ProBook 650 G3 is a great choice for any professional or business user who wants an affordable notebook.

HP offers notebooks and tablets to suit the need of any business user. The ProBook series definitely features some of the best notebooks – and they are all affordable thanks to HP discount offers. Get yourself a HP ProBook 650 G3 coupon and get started with your order.

"Switch How to Change Things When Change is Hard" by Chip Heath and Dan Heath Business Book Review

Business mavens, Brothers Heath released their new book, entitled, “Switch: How To Change Things When Change Is Hard,” (Broadway, 2010), in February. The authors address change at the individual, organizational, and societal level. Change involves the brain’s emotional and rational side. The Heath brothers identify the overpowering emotional element as the Elephant. The rational, decision-making component is secondary and sits atop the Elephant as the Rider. When conflict between the two exists, the Rider is inherently the underdog. To make lasting change, the Elephant and Rider need to unite. Also key is having clear direction. Following is an example from each of the nine principles contained within the triad to accomplish long-term change. It’s noteworthy that the change framework benefits anyone without a vast amount of authority or resources.

DIRECT THE RIDER-Analytical, Rational Thinking.

Find the Bright Spots. In 1990 an international organization that helps needy children accepted a Vietnamese government invitation to decrease malnutrition. They earned six months to make a difference. The short timeline negated ending poverty, purifying water and building sanitation systems to address starvation. Organizers traveled to a rural village and met with mothers. Despite widespread malnutrition, some children were thriving. Why? The team searched for bright spots-successful efforts worth emulating. They discovered bright spot moms fed their children four times a day (easier on kids’ digestive systems), vs. the standard two. Another finding among several was that bright spot moms added shrimp and crab from the rice paddies into their kids meals. Cooking classes originated with bright spot moms teaching other mothers how to prepare healthy meals for their children. The mothers already had the emotional component (Elephant) – natural concern for their kids. They needed direction (Rider) not motivation. Six months later, 65 percent of the village kids were better nourished and stayed that way.

Script the Critical Moves. Doctors studied a case history of a patient with chronic arthritic hip pain. Their options were to perform drastic hip replacement surgery or administer a single untried medication. They chose the drug 47 percent vs. doing hip surgery. Another doctor set studied a similar case history with two untried drugs presented as a choice. Here, only 28 percent of the doctors chose one of the prescriptions. The remainder selected hip surgery. The study results display decision paralysis. Too many choices tax the Rider’s strength; and it will always revert to the status quo. Change creates uncertainty and ambiguity. Any successful change requires translation of ambiguous goals into concrete behaviors. Script the critical moves (not every move but key moves). In the above studies, the critical directive to “Use invasive options only as a last resort” would have resulted in more physicians choosing the drug option. Clarity dissolves the Rider’s resistance.

Point to the Destination. In the mid 1980s a popular investment firm’s research department ranked an embarrassing fifteenth in its ability to generate revenue for banks. Top executives recruited a new leader who became both GM and coach. He announced that he expected analysts to initiate at least 125 client conversations a month. He promoted a team environment; requiring analysts to cite colleagues’ work at least twice during presentations. He also declared that the firm would crack the premiere investment magazine’s Top 5. He not only scripted the critical moves (make 125 calls, cite colleagues’ work); he also created a destination postcard- a vivid picture from the near-term future that shows what could be possible. In three short years the firm leapfrogged from fifteenth to first place. When you describe a compelling destination you decrease the Rider’s ability to get lost in analysis paralysis.

MOTIVATE THE ELEPHANT-Emotional, Instinctive.

Find the Feeling. In the late 1970s, a state’s Department of Youth Services (DYS), an agency that focuses on delinquent kids; overhauled its operations. Nonprofits including group homes and halfway houses replaced youth prisons. The head of accounting for DYS ruled his division with an iron fist, earning the title of Attila the Accountant. Expense reports submitted with a single mistake like a date omission or miscalculated subtotal were returned to the offending nonprofit for corrections. The organizations operated on a shoestring budget and delayed payments jeopardized their ability to service kids. Frustrated, Attila’s colleagues invited him on a field trip to visit some participating nonprofits. He witnessed firsthand their operational and financial challenges; and returned to the office a changed man. He was still authoritarian but less nitpicky about expense report submissions, allowing the nonprofits to receive their payments faster.

Shrink the Change. A local car wash ran a promotion using loyalty cards. One customer group received an 8-stamp card, earning a free car wash once filled. Another customer set received a 10-stamp card, with 2 stamps already completed, advancing them 20 percent towards their goal. Several months later, only 19 percent of the 8-stamp customers had earned a free car wash, vs. 34 percent of the head-start group, which also earned their free car wash faster. The authors state that people find it more motivating to be partially finished with a long-term goal than to be at the starting gate of a shorter one. How could you rally your family, coworkers, community, etc. to achieve a long-term goal by highlighting what’s already been accomplished towards its completion? To motivate an uninspired Elephant, shrink the change.

Grow Your People. In 1977 the St. Lucia parrot faced extinction. Island natives undervalued the bird, some even eating it as a delicacy. No clear economic case for saving the parrot existed. Conservationists knew an analytical case for protecting the bird would fail. Instead, they implemented an emotional appeal. Their goal was to convince St. Lucians that they were the kind of people who protected their own. They wanted St. Lucians to swell with pride over their exclusive island species. The St. Lucia Parrot Campaign included T-shirts, bumper stickers and locally recorded songs about the parrot. The animal became part of the natives’ national identity. In 2008, conservationists noted that no St. Lucian had been caught shooting the parrot in fifteen years, resurrecting the species from extinction.

SHAPE THE PATH-Provide Clear Direction.

Tweak the Environment. The airline industry abides by the “sterile cockpit” rule. Anytime a plane is below 10,000 feet, either ascending or descending (the most accident-prone times), no conversation other than flight-related is permitted. At 11,000 feet the crew can talk freely. An IT group adopted the sterile cockpit tenet to advance an important software development project. They aimed to reduce new product development time from three years to nine months. They established “quiet hours” Tuesday, Thursday and Friday mornings before noon. It gave coders a sterile cockpit, allowing them to concentrate on complex bits of code without being interrupted. Ultimately, the group achieved their nine-month development goal. What looks like a people problem is often a situational challenge. People have a systematic tendency to ignore situational forces that shape other people’s behavior. Simple tweaks of the path can produce dramatic behavioral changes.

Build Habits. One of the subtle ways our environment influences us is by reinforcing (or deterring) our habits. Habits are important because they’re behavioral autopilot. They allow good actions to happen “free” without taxing the Rider’s self-control, which is exhaustive. To change yourself or others you need to change habits. Forming a habit involves both environmental and mental influences. “Action triggers” are effective in motivating action. They preload a decision and are most useful in difficult situations when the Rider’s self-control is strained. Action triggers create “instant habits.”

Rally the Herd. A hotel manager tested a new sign in the hotel bathrooms. It simply stated “the majority of guests at the hotel reuse their towels at least once during their stay.” Guests who got the sign were 26 percent more likely to reuse their towels. They took cues from the herd. In ambiguous situations we all look to others for cues about how to behave. Change situations often involve ambiguity along with their inherent unfamiliarity. To change things, you must pay attention to social signals. They can either guarantee a change effort or doom it. Lead an Elephant on an unfamiliar path and it’s likely to follow the herd.

The authors acknowledge that change isn’t always easy. When change works it tends to follow a pattern. People will change with clear direction, ample motivation, and a supportive environment. The Rider, Elephant and Path need to align in support of the switch. Visit the authors at http://www.heathbrothers.com.

Recruitment in the Marine Business

Times have changed since it was the maladjusted youth or economically challenged profiles who were the foundation of the crewing for ships. These days it is a profession of choice and officers are educated to bachelor level. But has the industry managed to develop in parallel to integrate these profiles and how is the prospect of the future?

History

Only 50 years ago the shipping business was extremely different from now. Being a sailor was a life style, it was not rare to spend 12 month at sea and a high number of sailors never made it home to Denmark between ships, but stayed in maritime hubs like Singapore, Manila or Bangkok. Ships stayed long time in ports – sometimes weeks. There was plenty crew onboard and no alcohol restriction or AIDS. Sailors was adventurous people who in the marine business could wipe the screen clean and start a new life. Never mind that you did not have an education, that you came out from prison, that you were not able to read, as long as you were able (hence the term AB Able-Bodied), willing to work hard and could fit in onboard socially you were welcome in the business. Youngsters tired of school were happy to find a different environment where they could be challenged, earn good money and come home as men. Myths were created at that time. Sailors were rough people with tattoos, parrots on the shoulder and golden ear rings.

Present

All this has changed. In the maritime business you now need a high school degree to enter the officer educations. Becoming a junior navigating officer takes at least 4 years and there is no room for maladjusted people. The amount of administration is now so demanding that you need extensive bookkeeping skills. The ships are so advanced that you need extensive training to operate the equipment. Most ships spend few hours in port with no time for the sailors to go ashore. The crew onboard has been reduced to the absolute minimum. On top of this, different nationalities have been implemented in the crewing policy with the target of reducing manning cost. Crew from third world countries does not complain about the conditions. If you can choose between poverty, hunger or going to sea – the latter is clearly the best. But the western youngsters are not happy with the conditions. They have other choices. Few people who have spent their life on sea will recommend this path to their kids. Extensive marketing have been implemented in Denmark to attract new profiles to the blue business. The campaign has been relatively successful and every year a new batch of fresh baked officers is leaving the Engineer or Navigating Officer Schools.

Reality

So what reality waits for these hopeful young people? What made them make the choice to enter the business? And for how long will they stay? And what will they do after the sailing career? These are good questions that are not easily answered. First of all, lots of trouble waits onboard the ships. That is for sure, studying various reports and maritime blogs. Items that score high rank in the mind of sailors these days are: Piracy, criminalization, loneliness, deprivation, disturbed sleep pattern, no influence on food and difficult access to doctors. The other side of the coin is the high pay, the independence, the big responsibility, the travels and the personal development being on your own out in the big world. In Denmark, the average time a navigation officer continues to sail after end education is 7 years according to a survey conducted by Danish Maritime Officers. Then they start to work ashore in a marine related company or do something completely different. A few percent last longer and if you are sailing when you are 50 the chances that you will go ashore is quite small. Obviously it may be a bit difficult for such a profile to adjust to a land job after many years at sea. If there was ample supply of officers and senior profiles for the offices, we did not need to change anything, from an economical perspective at least. But talking to the various ship owners in Denmark we start to see a bottle neck arising. We do not have enough HSQE profiles, we do not have enough DP operators and we lack naval architects and many other important positions. That is the fuel under the discussion, what do we do about now and what do we do in a longer perspective?

Statistics

Denmark has been a leader in the maritime business in many years. Most people in the business know that we contribute in a substantial way to the welfare society of Denmark. 85.000 people are directly employed in the business and 10,5 of the total production value stems from the maritime business. Of this 85% is export – which is highly needed to keep our balance of payments positive. In the last years 15 ship yards has closed in Denmark and the newbuilding business has almost completely been overtaken by Asian countries. Over the last 6 years Europe’s part of the newbuilding business has been reduced from 18,8% to 9,1% – a staggering reduction of more than 50%. Onboard the Danish ships the share of Danish officers has been reduced from 86% to 70% over the last 9 years and at the same time the share of foreign officers has increased from 14% to 30%. It looks even worse when we study the figures for ratings, in the same 9 years the figure for Danish ratings has dropped from 54% to 35% and the share of foreigners has increased from 46% to 65%. 30% of the entire world fleet is manned by ratings from Philippines. Before it all get too negative, it is important to highlight that over the last 7 years the Danish fleet has increased with more than 100% from 15.994 Mill. DWT to 32.157 Mill. DWT. Danish ship owners are doing well right now, no doubt about this. They were not so hard affected by the crisis because the fundament was in order. More than hundred years of experience showed the difference in the financial crisis and we have seen very few owners in trouble in Denmark. But with above figures in mind, what is the prospect for the future?

Future

In the past, the average sailing time for the sailors employed onboard the offices was high. It was not uncommon with 10-30 years of sailing time in the book before you became superintendent, HSQ manager or even fleet manager. That is not the case now. Young people wants to get ashore again after few years at sea. Probably due to a mix of the above mentioned parameters. The ship owners cannot pick and choose who they want for the shore based positions. Actually for years, they have got new people to shore based positions by attracting profiles, with higher salary and better conditions, from competing ship-owners. Most ship-owners still have senior profiles in the corner. The young people cannot do without them. When the McGregor hatches is jamming, when they have oil spill, port state control etc. the grey gold have seen it all and knows how to deal with it. There is an increasing concern about what will happen when these senior profiles are not in the office anymore. They are the true value of the company, the heart blood so to speak. And they have practical experience from sea, they understand the terms and conditions onboard a ship. If we want to maintain the maritime business in Denmark in some form we have to look into this single subject. It is not enough to educate more people. Utilizing crew from third world countries is not the answer – they tend to retire early and move back home – which is quite understandable since they spent a significant part of their life onboard the ships in long duty periods.

Western World

This issue is not only discussed in Denmark. This is a North European issue. This is something that affects the entire western world. The maritime business is the most global business on earth. It is an extremely competitive business and crewing and ship building takes place where the salary is lowest. The western world has invented modern shipping. Starting with the proud empire time of United Kingdom and followed up by endless innovations and patents. Europe and the States were leading the way for many years. But the salaries turned out to be not competitive anymore. You could get arms and legs in Asia much cheaper. Brazil had a role in the seventies soon to be taken over by Japan. Later Korea was wearing the yellow t-shirt and they are now seriously challenged by China. Ship building is labor intensive work. In the industrialized world we probably have to come to terms with the fact that yards probably never will come back.

The window

In the beginning, when ships were built in new places, knowledge was exported as skilled profiles, design, machines and inventory. We were basically contracting arms and legs and there was still plenty of work for us. Later it turned out that it was only a window. The shipyards developed and the level of quality was increasing. The local education system was redesigned to accommodate the maritime business and ship building became a big part of the countrys economy and identity. In exactly the same way as it used to be for us in the western world. Summarizing up, it is clear that something is going on, that the business is moving away from the western world. What should we do about it? Or even more relevant, can we do anything about it? To quote one of the more famous profiles in the world right now – Yes we can.

Action

It will require a never seen before cooperation between all parties in the business. It will require a change of perspective and a total reform of the education system. At the moment seen from the individuals’ perspective things are maybe not so bad. Until they lose the job because the office is closed down or because the ship owner decides to change nationality.

Ship Owners

Normally, there are a lot of emotions in this debate. Lets make one thing clear. Ship owners are not evil people that enjoy changing nationality onboard the ships or changing to foreign flag. Ship owners are highly professional companies that try to run business in an extremely competitive environment. It is often highlighted that they make big money – yes, sometimes they do, but when they dont they also have high loss. Shipping is a risky business. Another point is that most big ship owners in Denmark are owned by share holders and by paying tax it is somehow in the entire Danish societys interest that they do well financially.

Co-operation

It is important that this debate is without pointed fingers and referrals to the past. It is time to sit together with representatives from the entire maritime cluster. Participants could be, but not limited to: Unions, ship owners, shipping people, suppliers, schools, authorities, insurance companies, classification societies, crew and technical office staff.

Initiatives

Here are some ideas:

Full career paths to all the different positions you can have ashore
Turns in the office always included for ships crew and office staff to visit ships and harbour facilities
HR & crewing operated in the same unit with same benefits and conditions
Free broadband internet onboard
A range of relevant educations that the sailor can take while sailing
Enough people onboard so an officer can take a full day off every second week
Psychological working environment
Investments in harbour facilities – close to the ships, with social hubs for sailors, pick up and shopping service, sports facilities
Focus on delicious and healthy food
As many decisions as possible to be done by ships crew
Employ one person to do only administrative work onboard
Gymnasium onboard must be mandatory
Maximum time at sea 10 weeks

Elaborate explanation

Full career paths to all the different positions you can have ashore

As it is now, you are educated to do service onboard ships. What happens after your sailing career is not a part of your education on the navigation- or engineering school. All roles in the maritime cluster must be evaluated and appropriate background and education must be clear. If we take for example a superintendent, a ship owner can in theory employ anybody to do the job. They normally prefer an engineer for a technical superintendent role and a navigation officer for a nautical superintendent role. The website worldcareers.dk has done a big job to create a career compass but it is all based on inputs. The business needs a complete map and minimum requirements for getting the various roles. When you go ashore you have to adapt to a completely different working environment and the only way you can be better at the job is to learn from the senior profiles as it is now. For the example with the superintendent, it could prove beneficial that there was a three month course – or maybe a distance learning course so you become certified superintendent. In this way you can during your sailing career specialize into the area that you want to work in after your sailing career. Standardization and optimizing of the educational background including sailing time will be a benefit for the entire cluster.

Turns in the office always included for ships crew and office staff to visit ships and harbor facilities

Sometimes there are light years between life on board and life in the office. Both parties have a hard time to understand the reality of the challenges of the other part. To close this gap and ensure full co-operation and understanding between the parties some exchange is crucial.

HR & crewing operated in the same unit with same benefits and conditions

There is a very good example of a ship owner looking for a Chief Engineer for a bulk ship. The job advertisement contains three lines: Ships name, flag and salary. The same company is also looking for a superintendent for bulk. This advertisement is three A4 pages. They are looking for a profile with same educational background. The first are contracted by the crewing department, very often outsourced to a crewing company and the latter is contracted by the HR department. It is important that we consider crew onboard ships as humans – to be administered by Human Relations – not commodities administered by a crewing department – normally controlled by the technical department.

Free broadband internet onboard

Young people these days are normally online almost 24/7. Bringing them into an environment where they cannot communicate on social platforms, get news, watch movies, send emails etc. will just not be accepted by them. Broadband internet is an extremely important part of the package that should attract young people to a career in the maritime business.

A range of relevant educations that the sailor can take while sailing

Even though many officers – especially in coastal trade – are very busy onboard there must be a range of relevant educations that can help a seagoing profile to optimize his opportunities if he wants to go ashore. Example of courses could be, but not limited to: Surveyor, Superintendent, HSQE, Sales, Shipping, Law or insurance. These courses must be tailor-made for the business and officially certified so we are sure that we keep the knowledge in the maritime loop.

Enough people onboard so an officer can take a full day of every second week

This is a controversial suggestion. But nevertheless it makes sense. How many people on shore are working between 8-12 hours minimum every day in 90 days? If possible, the free day should be spent when the ship is on shore. The day is for recharging the batteries, catch up on sleep, relax or maybe get some new input from different cultures. It could also be to do home work, to have quality time on webcam with family or friends.

Psychological working environment

Life onboard ships are tough. The opinion of some senior profiles is that they are not there to make anybody happy. Most people miss family and friends and communication can easily become tough. If the ship is leaking oil some ship-owners have implemented whistle blower options. The same can be done about the psychological working environment. There is an old joke saying that the sea is the catchment area for the mentally maladjusted people that would not be able to work in land based organizations. The business has now got rid of the socially maladjusted, the alcoholics and now it is time to look at the mental health of people onboard. In many cases, ship owners have implemented that when signing off, the captain rates the officer signing off and report home. It should go the other way too, and action should be taken if the reports indicate that a captain is not able to create a healthy and inspiring working environment. It could prove beneficial to make a personality test before accepting people into the officer system.

Investments in harbour facilities – close to the ships, with social hubs for sailors, pick up and shopping service, sports facilities

In few rare cases ship owners have donated money to the seamans church. Why is it the church of all institutions that are responsible for the social life of sailors going ashore? Is it acceptable that we hand over welfare of our crew to charity institutions? It has been like this for generations and it is understandable that ship owners operating in tramp cannot invest in facilities in ports. As a start, ship owners operating liner service could create these hubs. It could be that ports should be involved in this discussion – so a small percentage of the port fee is allocated for building state of the art facilities.

Focus on delicious and healthy food

This does not need to be explained further. Everybody in the business understands this; the problem is that the rules for food onboard ships can be interpreted in various ways and that the competitive situation has forced ship owners to cut down on the budget for food too. Food is one of the most important parameters

As many decisions as possible to be done by ships crew

The officer of 2011 is a responsible and intelligent profile. He/she needs to be involved in decisions and feel responsibility in order to gain job satisfaction. The easy communication to the ships is good in many ways, but the down side is that many officers feel like being remote controlled by the office. It is crucial that ship owners let officers do decisions and take responsibility.

Employ one person to do only administrative work onboard

Only few years ago there was a radio officer onboard all ships. When modern IT was implemented on the ships including GMDSS the need for a dedicated radio officer was eliminated. But the radio officer had many other duties. He/she was in addition to the communication work a substantial administrative resource for the captain and the chief engineer. The amount of paper work has increased in a dramatic way and the crew has been cut down to a minimum. This is a major stressor for the crew. We want the captains to concentrate on being good leaders, ensure safe sailing and to be a visible profile onboard. Not being drowned in paper work. The profile could be a normal office clerk with a short tailor-made education – or alternatively it could be a navigation officer – the benefit in that would be that he could assist in duty, when officers need time off. An even more efficient way could be to employ minimum one dual officer on board every ship. This profile would be able to assist both the navigating officers and the engine crew when needed and could furthermore take watch duties to ensure days off as mentioned above.

Gymnasium onboard must be mandatory

Gym onboard should be mandatory and instead of the interpretation of the existing blue book where sailors can continue sailing with hundreds of kg overweight, it could be considered to implement similar conditions like in the navy, where you have to pass a test on a biannual basis. The crew is responsible for safety onboard the ship. If you have a serious casualty like fire or collision it is important that all crew is fit and can take care of themselves.

Maximum time at sea is 10 weeks

Depending on trade the maximum duty period should be from 2-10 weeks. Naturally individuals can apply for longer periods but for the young people entering the business by today, 10 weeks are very long time.

Conclusion

The above mentioned ideas are not to be implemented over night. Furthermore, there is a competition problem if other nations refuse to follow the rules. As it is now, we have only one body to implement rules in the maritime business. That is IMO – and IMO have no legal power. IMO can suggest a resolution but it will only go into force when a sufficient number of nations have signed the resolution. It is an extremely slow and inefficient way of implementing rules but it is the only way as it is now. First the blue business in Denmark needs to agree on national level how we should plan for the future. When we have reached consensus about the message to be forwarded, we should try to get support from the most important seafaring nations, like Germany, Holland, Norway and Greece. Based on this paper we could start to work on creating a syndicate, globally strong and influential to make legal changes. The syndicate should represent al interests in the maritime cluster from all maritime nations and could be organized under the IMO umbrella. We have a common playground when we talk certificates for officers, it should be possible to implement certificates and authorizations for all the shore based positions in the maritime cluster. We need to present a secured plank to walk ashore when the officers are ready. The resistance from the business to make the plank easy to walk has probably been due to the fact that they are afraid that nobody will stay onboard the ships. When e.g. a navigating officer has passed the first couple of years a significant amount of hours have been invested in training and then it is actually not attractive for the ship owner that he walks ashore. But even less attractive is it if he chooses to change profession completely due to demand from his family or due to lack of job satisfaction. By certifying all the various roles in the office the business are furthermore implementing an incentive to stay onboard. If a minimum sailing time at sea for becoming a superintendent is e.g. 3 years as senior, you would think twice before jumping ashore too soon. A lot of senior profiles in the business have called for action – now it is time to get the hands up from the pockets and begin the work. The alternative is not attractive. We need to see each step forward as a success for our strategy and not let us be discouraged by the enormous challenge.

Starting a Farm Business? Consider Integrated Fish Farming

In this article, I offer (as I have done in previous writings) I offer more ideas for possible consideration by farm business owners, towards ensuring successful startup and long term success of their farm entreprises.

Personally, I use the phrase “Farm Business” to refer to a mix of mainly Fish Farming enterprises integrated with other livestock enterprises (such as piggery, poultry, rabbitry etc) AND complementary crop farming, earthworm rearing, daphnia culturing, feed formulation/compounding etc.

Integrated Fish Farming Helps Protect YOU Against Risks & Uncertainties

I have carefully studied trends out here (which remains VERY unregulated and disorganised) and have come to ONE conclusion: One needs to be reasonably self-sufficient in one’s farm business needs – especially as it relates to timely acquisition of essential, and critical inputs which if allowed to vary in quality or availability could cause major setbacks in the farm’s operations.

Critical inputs I refer to include brood stock, fingerlings, feedstuffs etc – the supply/quality of which may not be reliably assured as unscrupulous suppliers may let the business owner down at any time!

It is my opinion that this approach that involves running a farm business based on a mix of high profit/low capital and operating cost livestock and other enterprises, ensures that ALL the farm’s resources – including labour – are maximally utilised ALL year round.

This is in contrast to the situation that occurs with exclusive crop and other seasonal farming enterprises which have to be timed to coincide with the various seasons.

So, if you are planning to start a farm business of your own, and want to look forward to – and obtain – REAL long term financial returns, I suggest you choose to make your farm run based on a livestock production enterprise – fish farming (especially catfish) being ONE that offers fairly reliable/reasonable returns with relatively lower capital requirements – integrated with other complementary enterprises.

Given the difficult, risky and uncertain nature of our socio-economic environment, Integrated Micro-Small Scale Fish farming is the easiest, cheapest, AND least risky to learn and start-up PLUS it offers – with good management – potentially the MOST rewarding financial returns.

That is why I chose to focus on it over poultry for instance, which is relatively MORE capital intensive and operationally demanding. Over time of course ANY person (who has recorded progressive success in micro/small scale fish farming) can “graduate” to more capital intensive levels.

Summary

So, to sum it all up, I believe EXCLUSIVE fish farming for individuals and small groups operating on micro to small scale is a bit too risky and prone to negative impact of the unpredictable economic climate out here in Nigeria. Elsewhere this may not be that much of an issue of course (That’s up to the farm business start-up/owner to decide).

For instance today petrol price is no longer 65 naira per litre. Instead it has jumped up ten “NAIRA” steps to 75 naira per litre – courtesy of a government increase. This – like other unplanned and therefore unexpected government policy changes before it – WILL have a multiplier effect on so many operating variables/inputs used on many farms. By having a complementary mix of enterprises, the fish farmer cushions his farm business against direct impact that could in its worst manifestations, “KILL” it – literally speaking.

Final Words: Make Sure You Seek Competent Counselling

All that I have said here is of course my personal opinion. Please REMEMBER that you DO NOT have to accept my ideas – and I strongly suggest you seek the counsel of competent professionals in making up your mind.

Note however that in taking advice from ANYONE (myself included) you will need to check and make certain that s/he has a FULL appreciation of the dynamics that come to play in the running of the farm business enterprise(s) being considered, in YOUR chosen environment. What I offer you here is derived from extensive experience-based evaluation of the challenges faced by owners of the farm businesses mentioned.

If you need help making up your mind about what farm business to venture into, I suggest you read my article titled “14 Key Questions-Issues to Consider in Order to Choose (& Startup) The Right Farm Business”.

A GSA Schedule is a Business Value Enhancer

Is a GSA Schedule an Investment?

Simply put A GSA Schedule gives access to a market, that being the federal market. Marketing dollars spent have both an immediate effect of hopefully making the phone ring as well as a lasting effect if the firm can obtain brand recognition. The top brands in the world Google and Apple are said to have brand values to those firms of in excess of $100B.

A GSA Schedule is similar to a brand in that it creates a lasting revenue stream for the firms. Once a firm gets on schedule, they are taking the first step to building the government portion of their business.

A GSA Schedule serves as the “starting point”

The majority of people we speak with do not do work with the federal government because they have no “starting point”. By this I mean they don’t know an effective means to start doing business with the federal government. The reality is that federal buyers like to work with people they have experience with and know will do a good job. But this all takes second fiddle because federal buyers have to follow federal acquisition regulations which requires them to need a legal means to buy a firms products or services. Therefore a firm needs a “contracting vehicle” to have any chance of doing any sizeable amount of work with the federal government.

What is a Federal Revenue Source Worth to a Firm?

When my father was younger it was always said invest in General Electric. The rational always was in good times GE sells aircraft engines, locomotives, and appliances, in bad times they are selling things to the federal government. So the theory was they are always going to make money. In 2008-2010 many small construction firms that had ins with the federal government survived and their counterparts without federal revenue did not. Having a government source of revenue is important, it is not a hot growth sector, the federal budget typically grows at 1-3% per year. However, when it is needed, it helps a firm keep the lights on.

How Much Would it Cost to Replicate my Competitors Federal Marketing Advantage?

The real answer is that you couldn’t. If you have a competent competitor in the Federal Sales space and had an unlimited budget it simply would not matter, you could not take their federal market share within 2 years. In five years you could make major headway, but federal sales is all about a continuous methodology and it takes time. The counter point is once you have established your federal sales channels you will also enjoy this barrier to entry from your competitors.

How Valuable are These Federal Sales Channels?

65% of acquisitions in the federal contracting space occur so the acquirer can have access to new/federal markets. These firms are purchased for their relationship and capabilities within various federal agencies as in many cases the only way to gain quick access to an agency is for a large firm to buy their way in.

What Advantage Does More Experience Translate to in the Federal Market?

Firms with over 10 years of Federal Contracting Experience win contracts greater than 53% of the time. The longer a firm is part of the federal market place the more the firm’s skills and relationships grow. This gives long tenure federal contractors 10+ years more than double the contract win rate of new entrants.

How Effective is a GSA Schedule as a Starting Point?

80% of active GSA Schedule holders do over $1 million per year in federal contracting and receive 47% of the firms revenues from federal contracting.

A GSA Schedule as an M&A Asset

A GSA Schedule is one of the few transferable government contracts, and will follow the acquiring company in a business sale. A GSA Schedule is your first step in entering the federal market place.

How to Know and Chose the Business That Is Right for You and the Business Medium

Entrepreneurship has played a critical role in the economic development of countries such as the United States where 60 % of new employment opportunities are created by small business enterprises. In Nigeria, it is becoming difficult for university graduates to get employment opportunities. Recent figures by the Education ministry showed that at least 70 % of university graduates and those from tertiary colleges are finding it hard to get employment upon graduation. With the high poverty levels and unemployment rate currently at 6% and growing, entrepreneurship is seen as the only key that will transform Nigeria into an economic powerhouse and help the country achieve its vision2020.

* High Business Failure Rate

Many talented individuals who get into entrepreneurship for the first time fail to make an impact because they lack the necessary skills and are often unprepared to face the challenges they encounter in their operations. Statistics show that the business failure rate in Nigeria for new businesses is between 75% and 90% in their first 10 years. For the case of dot com enterprises, only one in every 10 ventures makes it to the third year. This high rate of business failure can be reduced or eliminated if we take time and do a thorough research prior to going into business.

* Know the Right Business

The purpose and goal of every entrepreneur is all about being independent and providing competitive products or services that are not offered in the market. Even if those services are already being offered, as an entrepreneur, you should strive to offer that service in a better and efficient way compared to the already existing businesses. There are many questions that Nigerian entrepreneurs must answer when deciding which business to form. Should you turn your hobbies into moneymaking ventures? Buy existing businesses or start from scratch? Buy a Franchise and benefit from the franchisors well-known brand? Selecting the right business is a life changing decision one that has long-term effects and thus careful planning must be taken into account.

* Well-Suited Ventures

A large portion of Micro, Small and Medium Enterprises (MSMEs) are born out of passion. One costly mistake made by emerging entrepreneurs is that they tend to replicate what other established businesses are providing without first knowing what they are good at. Those entrepreneurs who do not have a clear passion or do not enjoy what they are doing are likely to give up when challenges start to arise. Even if entrepreneurs are certain about what they love or want to do, finding the appropriate business that fully utilizes their skills and abilities must be carefully considered. For instance, if one has a passion for art, there are wide varieties of businesses that they can choose. They can decide to be artists, open an art school or do restorations among other options. The essential key is for MSMEs to choose ventures they are well- suited for and that will fully utilize their abilities.

* Write Clear Personal Goals

All Nigerian entrepreneurs need more than just passion or talent if they want their businesses to succeed. One major reason that many small enterprises in Nigeria fail is because they lack clearly defined goals. For start up businesses, we should direct more effort towards short-term goals since new business ventures must always pass through a time of research and development before their long-term profitability can be predicted accurately. A businesses short-term goal should be between 6 to 12 months, while its long-term goals can be for a period of 2 to 5 years.

* Create a niche for the Business

Small and medium enterprises tend to copy each other and provide the same services offered by existing businesses. This has the effect of overcrowding the market and is the number one major reason why new ventures find it hard to survive. For emerging MSMEs to guarantee their survival, we have to develop policies capable of helping our entrepreneurs create a niche for themselves by offering products and services that are unique and that enable them to take advantage of the market. Studies done indicate that most businesses get 80 % of their sales from just 20 % of their clients. By clear identification of the target market, we can be able to direct most of their energy and time to customers who are important.

Though most of our entrepreneurs set up their own businesses from scratch, those who find it hard to build their own businesses can opt to buy already existing ones. Such entrepreneurs benefit from the already existing record of accomplishment of the company and not much time is spent on market research since the business already has a dependable customer base. The other alternative to business ownership can be franchising. Statistics indicate that more than 50% of retail sales in the United States are generated by franchise chains, which in total employ more than 7.1 million workers. This is seen as an indication of the potential of such businesses in Nigeria.

* Success of Franchises

Compared to other business models, a franchise has many benefits besides being cheaper to set up. A franchise has a good track record and is easier to set up since it has an existing business model, brand name and has established and working guidelines on how to run the business. In addition to all these benefits, the failure rate of franchises is lower compared to new businesses. For instance, the rate of failure of franchises is less than 5% making them more suitable for emerging entrepreneurs. Over the last couple of years, Nigeria has seen an increase in the number of franchises being set up mostly by South African investors in retail, food and environment sectors. This is a clear indication of the benefits that can be gained through franchising.

Nigeria’s ambition of being an industrialized country by the year 2020 can only be achieved with the help of the private sector. We need to diversify from our reliance on oil, which accounts for more than 65 % its budgetary revenues and more than 85% of foreign exchange earnings. For this to become a reality, our entrepreneurs need to have the necessary skills and knowledge needed to run successful businesses and transform Nigeria towards economic development.

Proven Home Business Opportunity – Facts

If you want to earn additional cash, you may want to try a proven home business opportunity. It is very essential to realize that one important factor in home business is ensuring that you have a proven home business opportunity and to be willing to do everything it takes to succeed.

Having a proven home/online business opportunity can help you become more successful in life. Though there are a lot of home business opportunities, you need to consider some things in order to choose a legitimate and fast-earning home business. Your home business should depend on your skill. If you have a hobby, you can put that in good use by making it your home/online business.

One proven home/online business opportunity is online marketing. There are a lot of people that venture on online businesses because of its increasing demand. With an online business, you can reach more prospective clients anywhere in the world. Your internet connection can help you promote your business in a much wider scope and you can get faster and more response.

With the many online business opportunities today, you need to be careful in figuring out which ones are good and which businesses are scams. It is essential to do a thorough research when choosing a proven home business opportunity. If you are considering a franchise business, you have to know that it can be quite confusing. You need determine if you want to start a home business from scratch or you want to buy a franchise of an existing business.

A franchise business is known to be a proven online business opportunity. Though it may require higher cost in the initial investment, a franchise business is known to provide immediate income.

A proven home /online business opportunity is something that you can watch out on your own. It is best to have a good business eye and choose an industry that can provide you a steady income. You must ensure that the product you are providing is something that people will buy even in the years to come and the service you are offering is something people really need. If you know what your costumer wants and have the ability to provide it, you are more likely to succeed.

In choosing a home/online business, it is best to ensure that you can make everything work. It is advisable to look on the different ways in setting up your business and if possible, formulate new methods to make it better. You need to be self-motivated in order to succeed in any kind of business. You must have the capability to push yourself to the limit. It is essential to have determination and drive to succeed. Remember that your success level depends on the effort and the time you put into your business.