Friday, 29 April 2016

Nuiz of the day

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The GDP of the Eurozone has improved. It grew by 0.6% over this last quarter. During the last quarter in the previous year it reduced by 0.5%. Thus, you can say it doubled its performance this quarter.

What segment of your business is performing well?

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Hello readers, the Boston Consulting Group's  growth share matrix will be used to let you know what segment of your business is performing well, so what this matrix does is to compare the annual real rate of the market growth with its relative market share. An industry is said to be attractive when the rate of its market growth is high. The matrix is easy to use, so basically you look at the rate of the market growth of your product and you compare  it to the relative market share.

According to what I wrote above, if the rate of the market growth is high and the relative market share is low, then you can say the product is at its growth stage and you will just have to study the product to see if it can become a potential star. The income this product will be generating will be low. If the rate of the market growth is low and the relative market share is also low then it will be best to stop making the product as it will only be generating low and unstable income (if not losses).

However, if the rate of the market growth is low and the relative market share is high then it will, then you can refer to the product as a cash cow as it will generating high and stable income for the business. The business is the market leader in which the target market of the product. Thus, the product will be generating a lot of money, while requiring little capital to maintain its production. But if the market growth rate is high and the market share is also high then the product can be called a star, it will be generating a high and growing income for the business, however, the business will require a high amount of capital to maintain it, since its target market is still growing, as such they will be required to stay competitive.

This matrix has been criticized for its market definition, because a product can have a little market share in a bigger market but still have the leadership title when streamed line into a smaller market. For example, a restaurant can have 5% of the market share when looking at the hospitality industry but when it could be the market leader when it comes to Mexican food. However, the matrix still helps you determine which product is performing well.

Keep checking out my blog regularly, cheers!

Wednesday, 27 April 2016

Financial advice for disabled individuals

An accident that has made an individual disabled could be devastating. Basically, I believe a disability should not stop you from achieving your goals. You should read my previous article on disability. When a disability occurs the first action you should take is to pray to Allah to give you a strength to deal with it easily. You should also see it as an opportunity to develop yourself. Its good to note that not all disability are permanent, so if that is the situation you should do everything you have been guided to do so you can be healed.

For individuals with a permanent disability that does not incapacitate you, sooner or latter you will get used to it. You could also go for counselling to help you deal with it adequately. Afterwards start to go after your daily life as you used to, keep working if you are employed and if you are running your own business keep doing that. That will support you emotionally and mentally. Self respect will also influence the way you treat others and the way others will treat you.

Start making financial plans for the future, save money (halal) for the future, like 30% of your income monthly. You should also invest in other markets like gold, stock (halal). In other word, invest your money wisely and diversify your investments. For individuals that are incapacitated, some financial benefits are available to them through their government. In USA, it is called the disability benefit (security direct deposit). They actually pay directly into your account (you should open an halal account) if you are entitled to the disability benefit. The benefit given should also be spent wisely. You can get all the information needed from their website

In the UK, a disability living allowance is given to individuals with a disability; will provide you with all the information you need. You could also make a research to find out what disability scheme they have available in the country you reside in. Some charity organisations also help the disabled like the Lifestyle for the disabled inc, Mobility Aid and Appliances Research and Development Centre, Scope and others

Halal means anything lawful Islamically.

Keep checking out my blog regularly, Cheers!

Monday, 25 April 2016

Understanding your target market

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Hello readers, today I will be writing about understanding your target market. Basically, before starting your business you must have a target market. Some individuals start a small business without really understanding their target market. To be able to serve your target market appropraitely, you must understand it before even developing your products.

At first you must identify your target market. So how do you identify your target market? You will just have to think about the people that will most likely benefit from your products. It could a particular age group, it could be a gender, it could be a working class group. It could be based on the purchasing power of individuals. Secondary data could also be used to identify your target market by using data of those who make existing products that are similar to yours.

After your target market has been identified. Then you need the size of the market. Institutions  like The Office for National Statistics could provide you with data you need to draw information from. Mostly you will find information about the size of your industry online. And ofcourse, the market leader will be known cause it will also be online. Well, it will challenging to get some market share from them when you first start your business, so you will look at smaller competitors to have an idea of what your market share will be like at the initial stage of your business.

A study of ex new entrants of the business market, will also give you an estimate of what your growth in the market will be like. Frameworks like the PESTEL analysis and Porter's five forces will alsi I wrote about both frameworks in my book "How to become a successful entrepreneur" (USA). If you reside in any other country, it is best you pick it from the Amazon page for your own country. It saves shipping cost ofcourse.

Keep checking my blog regularly. Cheers!

Wednesday, 20 April 2016

5 daily routines to adhere to

You should pray 5 times daily to Allah.


This is good for your body and overall well being. 20 minutes of daily brisk walk is enough. It keeps you active.

Eating Fruits

Taking two portions of fruits at every meal will also keep you active. It is also good for your overall well being.


Taking two glass cups of water at every meal will also help you stay active so you can deal with those business transactions.


All work and no play makes Jack a dull boy. As such, you should find time to always relax. You should not deprieve yourself of sleep as well, if you do you might not be able to deal with those business transactions when they occur.

Keep checking my blog regularly. Cheers!

Monday, 18 April 2016

Empowering yourself, leading to financial stability

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Hello readers, do you know the most financially successful individuals are business entrepreneurs. Some nations are not as financially buoyant as others, as such as unemployment rate differs in different nations. Some individuals see unemployment as a problem; rather than seeing it as a problem why not look at it as an opportunity to start your own business. No business is built overnight, however, you can start yours. If you belief that you will start a business and be successful at it then you will, however, if you belief the opposite will come to past then it will.

Before you dabble into any business you must understand it, do not go into a business that you do not understand. Take time to understand it, and it must be something you find your passion in, so you can enjoy business tasks when they occur. Some individuals might find unemployment demotivating and may start to question their own abilities but I may have to tell you that Jack Ma went for an interview with 23 others and everyone of them got employed except him, today he owns Alibaba. Do not just sit down there and start feeling bad, your unemployment could be an opportunity to do greater things. After figuring what business you find your passion in and understanding the business, draw up a business plan. 

The next challenge will be to raise capital for your business, these articles I wrote previously could guide you. 

Keep checking out my blog regularly. Cheers!

Thursday, 14 April 2016

Making your business environment condusive

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Hello readers, so today I will be talking about ways to make your business comfortable for workers. Really, when your employees are happy they deliver better results. At the end of the day it benefits both the business and employees when the business environment is condusive. How do we make the environment condusive, first of all the business must be kept neat at all times. It should be nicely decorated. That creates a nice ambience and make staff members feel good at work. When they feel good they will be motivated to come to work and deliver good results.

Okay, well that is just one factor, I will pick a good working relationship to a very beautiful office, and I assume most individuals will. As such employees must be encouraged and trained to be thoughtful of colleagues when dealing with them. They should be informed to treat colleagues the way they want to be treated, in other words treat each other with respect. A form of motivation could be introduced, for example an award could be given monthly for good conduct, a bonus at the end of year could be used as an incentive, in other words the 3 staff with the best conduct through out the year should be given a bonus. There should be a zero-tolerance policy to bullying and harrassment at work. I am with companies that do not encourage couples to work together.

Salary is another important factor at work. All individuals work so that they could make a living. Career advancement and development are all contributing factors, no doubt. However, when you do not pay their salary on time you leave them unsatisfied. Making the task they do more interesting and having events that foster good working relationship is amongst factors that contribute to a good working relationship.

Keep checking my blog regularly, Cheers!

Wednesday, 13 April 2016

Calculating the UK income tax: Part 3

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Hello readers, so today I will be showing how to calculate another aspect of the UK income tax. You should read Part 1 and Part 2 before reading this article.  The last tax year ended on the 5th of April, 2016. As such the rates I used in the previous articles are no longer applicable. A recent development has occurred with the dividend income. Dividends worth £5000 or lower are not taxable. The dividend tax rate for this present tax year are presented below. The new rates are
                            2016/2017            Over £5000
Basic rate           £0 - £32,000                7.5%
Higher rate        £32,001 -£150,000    32.5%
Additional rate Over £150,000           38.1%

An example will help you understand what I presented above better.

Scenario 1
Morufat had received an employment income of £7000 and a dividend income worth £10,000.  

From the previous articles you should remember that you are always entitled to a personal allowance except you receive £122,000 or above.  As such, the taxable income will be £7000 + £10000 - £11000 = £6000. Remember that the dividend income is always taxed after the employment income, as such the remaining £6000 is part of the dividend income. Remember that the first £5000 of the dividend income is not taxable as such we deduct £5000 from £6000 which gives us £1000 taxed @ 7.5%. Therefore, the tax that will be paid is £75.

Scenario 2
Taiwo had gotten an employment income of £45000 and a dividend income of £12000. As usual we will deduct the personal allowance.  So it will be £45000 + £12000 - £11000 = £46000. So we know the £12000 (dividend income) is inclusive because the dividend income is always taxed after the employment income.

The calculation of UK income tax is shown below. The employment income will be taxed first which is £46000 - £12000 which equals £34000
Basic rate  32000 × 0.2                      6400
 Higher rate 2000× 0.4                         800
Higher rate
(12000 - 5000)  × 0.325                       2275

Therefore, the tax that will be paid is £9475.
You should note that £5000 deducted is the non taxable dividend income.

Keep checking my blog regularly. Cheers!

Tuesday, 12 April 2016

Different styles of management to be used to implement changes

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Hello readers, today I will be writing about how to implement changes. At times businesses do not perform well the way they envisaged they will, when that occurs, a change might be required in the business. To make the change possible, different styles of management could be used. Here are a few

- Managers can get employees to be involved in the creation of a new strategy for the business. This is because employees could resist the change and make it difficult for it to be implemented. However, when they become part of the change by contributing to the new strategy, they will be motivated to accept it easily, thus making the whole process smooth.

- Another method that can be used to implement changes is to delegate duties to senior employees like deparmental heads. Delegation will revolve around the formulation of the new strategy.

- Another way changes can be achieved in an organisation is by educating the staff about the change. Letting them know the reason behind the change, what goal is desired to be achieved by implementing the change. The way the change will be achieved should also be communicated. That way they will be encouraged to accept the change easily.

- Another way a change can be achieved is for the Head/Owner of the business to just set up the process and tell the employees to follow suit. And make it known that anyone that tries to make the change difficult could be penalised for it.

Keep checking my blog regularly. Cheers!

Saturday, 9 April 2016

Best places to visit this summer

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1. Canada
This country you could visit for summer. There are so many places that you can visit in Canada, from Alberta to Calgary to Manitiba to Toronto. However, if you are looking for a different experience you should visit Whistler, they have lakes, beaches and parks. You can go horseback riding, jet boating, tree adventures and much more.

2. France
Paris the capital city of France you could visit. It is a beautiful city and there are so many places you can visit when you are in Paris. However, a place I will recommend you visit is the Seine, it is a river with a beautiful view, you can have a cruise on it at sunset.

3. Mauritius
This is a countty located in East Afica, it is popular for its lagoons and beaches. A summer holiday in Mauritius won't be a bad one. Port Louis,  the capital city is the place to visit when you are Mauritius. It is located between the indian ocean and a mountain. Port Louis waterfront offers entertainment arenas, it also provides a place for shopping. There are nice hotels and restaurants.

4. Republic of Singapore
This is another country that should be visited. It is an attractive one. Singapore is the city you should visit when you are there. Gardens by the bay you should visit when you are in Singapore. From the name, you can tell it is s garden with a waterfront. Attractions include the cloud forest, flower dome, OCBC skyway, supertree grove and much more. Check it out if you decide to visit the Republic of Singapore.

5. United Arab Emirates
This is another beautiful country that can be visited. It is located in Asia. It has beautiful buildings. A place you should visit when you are there is Dubai. You should check out The Aquarium& Underwater zoo when you are in Dubai. This is located at the Dubai Mall. It has an aquarium tank which has 140 species in it, an aquarium tunnel which offers a unique experience when you walk through it. The underwater zoo introduces you to creatures you did not know existed.

Keep checking my blog regularly. Cheers!

Thursday, 7 April 2016

Before you decide to make your business global

Hello readers, so today I will be telling you few things to note before you decide to make your business go global. You have to make very smart decisions about your strategies and structure because once you go international they will always reflect in all the future strategies or business structure you develop. The moment your business goes international it will be difficult to change the whole strategy and structure totally.

Different multinationals have different strategies that they employ. Some multinationals try to tailor their strategies to suit the taste of nationals, meaning each country will have adjusted strategies to meet the needs of nationals. Some other companies look at their international counterparts to bring in new product development designs while others do all their research and development in their headquarters while they sell and distribute their products via subsidiaries. It really depends on what strategy that will suit the type of products you make.

Factors that will help you stay competitive in a business include the unique resources and capabilities you have as well as the country you decide to set up a business in. A thorough research must be done before going international to make sure that a company can compete internationally because a lot of companies that performed well locally failed when they decided to go international.

Keep checking my blog regularly, cheers!

Wednesday, 6 April 2016

Becoming an expert at promoting products

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Hello readers, I hope you are great. Today, I will be writing about how to be an expert at promoting products. A research was conducted to come up with this. First of all, you have to store up enough information about the products you are selling. Most customers will like to know about the products you are selling, so you must be able to answer all their questions. That can only be achieved by storing more than enough information of the products.

To understand a product better, you can ask managers and distributors about the product. You can also conduct a research, asking existing and past customers about the product. The user feedback is always important cause it helps you understand the product better. When a customer is interviewed you can get to know what they benefit from the products and that can be used to promote your product. Do not ask questions like what do you think about the products. Ask questions like what do you like most about the product, that will foster some positive thinking. In all, having adequate information about the product you are promoting will help you sell better.

Keep checking my blog regularly, cheers!

Tuesday, 5 April 2016

Style of Communicating in Business

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Hello readers, the way you communicate with customers play a role as to whether your business will be successful or not. You should communicate with them effectively. A guy was trying to transport his baggage from one city to another, because he had food in it he was spoken rudely to. If it is against the rules of the company to allow customers to transport food then he should have just being told nicely. Companies should invest in training their staff on how to treat customers, because some of them apparently do not know how to treat their staff well. They say a positive attitude is contagious so staff should be treated well so they can treat customers well.

When you are communicating with customers you should listen to them carefully and avoid interrupting the conversation. Questions should be encouraged and answered carefully, remember no question is stupid. A feedback form can also be made available so they can contribute to the growth of your business. I also believe that customers should also treat staff well. All complaints should be treated promptly and appropriately. If the customers is in the wrong, the customer should be told politely and if the customer is right then the customer should be compensated.

Keep checking my blog regularly. Cheers!

Task of the month ( April, 2016)

Get a second source of income. When your source of income is diversified you increase your chances of winning. If one source of income goes bad, you have another source that will still be providing you with income, as such it will soften the impact of the loss of the other income.