Business Talk/ Business for Today

This column is aimed at those who are already in business or contemplating a new venture.

Nigerians have a natural affinity for business wherever they may be. Back home even many of those on small incomes have a business of which at least one of each can be found on every other street. These businesses can be argued to be the hub of the community and without them our society would not survive. They are the sole traders; who are Tailors, Carpenters, Printers, Mechanics, Chemists, Bakers, Hairdressers, Street Hawkers, Photographers, Shoe shiners, Food Vendors etc. At the other end of the scale we have the corporate organisations; Banks, Law Firms, Doctors, Hospitals, Stock Brokers, Engineers, Architects and Limited liability Companies. However, wherever you may be in the spectrum if you want to succeed there are several basic principles that you need to adhere to.

Recently I read an article on Alan Sugar's tips for running a successful business: Learn to spot an opportunity, be prepared to take calculated risks, Don't be afraid to reinvent the wheel, exploit your market and your brand name, do something that you are passionate about and be prepared to work harder than you have ever before. The long and short of it is that it will take much more than a 35 hour week and a great deal of vision, determination and tenacity if you want to be anything close to a millionaire! , but the same principles apply to any business.

This column aims to be a forum for questions and answers that our readers might have regarding business or finance and it is an opportunity for those of you who are already established to share some of your experiences whether they were successful or not because there is a lesson to be learned in everything.

Foba Communications was founded in 1997 in the United Kingdom with the aim of providing quality communication products, servicing and advising on all variety of Mobile phones, Networks and Accessories. It is one of the UK's top stockists of latest mobile phones and it's staff are periodically trained in all aspects of the business. Foba are part of the Redbridge Business Education Partnership which is a partner of Trident Skills for Life a new government initiative that among other things provides young people with work experience placements.

Kunle Olaifa the Founder of Foba believes Nigerians have Business ideas and we need to turn them into reality!

If you have any comments to share please write to us at newsletter@amlappublishing.com . We will publish as many replies as possible.