Amazing 5 Forbes Tips for Investors, Entrepreneurs on Building Business, Brand and Ideas in Nigeria

With a population of over 200 million people and Gross Domestic Product (GDP) worth over $448.1 billion, Nigeria is unarguably fast taking the centre stage as the engine room of business force and the biggest economic hub in Africa. 

Your support matters. Sustain independent journalism in Nigeria – contribute to Legit.ng. This, without any iota of doubt, is more established especially now that more business ideas are being regularly conceived, practically generated and technologically driven to meet the mandatory demands of people vis-à-vis the global models. 

igeria, though, is facing numerous challenges from security to poor academic value, poor health and lack of adequate living standards, there seems to be an extended chain of interest from both inventors and nationals leveraging the available market space to build their business in the "giant of Africa." Establishing a business idea and brand in Nigeria requires knowledge of the industry one wants to go into. 

So whether you are a local or foreigner entrepreneur, these five steps will help you to grow and foreground your business: 

1. Know the business you want to do and navigate your way through the market space 

It is frequently said in economics that before diving into a business space, entrepreneurs and prospective business owners are expected to solve the problem of what to produce, how to produce, where to produce, when and for whom to produce for. 

Since where to produce is in Nigeria, and for whom to produce are Nigerians and other nationals living in the country, it is expedient that you as a business owner know the current trend in the industry you want to dive into. Whether goods or services, you must do market research and survey, analyse the demand, do the Strength, Weakness Opportunities and Threats (SWOT) analysis of the industry and know how to outsmart your competitors. 

Make your business flexible. And while trying to get a solid sense of how the market might change, explore the market more – and more because Nigerian market space is a business book of endless chapters. 

2. Be strategic and let your modus operandi be more open to changes in the trend 

The shift of business pattern in Nigeria is not a coincidence but a necessity and reality of the global trend. So while building your business brand, ask yourself often about what will be the fate of it in the next five years. 

It is noteworthy to state that with a dimensional rise in literacy level, internet access and speedy rise in the number of social media users, businesses and business owners in Nigeria now leverage the advantage of advanced technology to promote their products and brands. As a business owner, you must analyse the relevance of your goods service, make it problem-solving and solution-providing. Be strategic in solidifying your brand in a way that will build customers loyalty. 

In Nigeria, customers have a way of sticking to a business they help build. You must not disappoint as you grow your brand and establish your business ideas. 

3. Follow the rule and be on the side of the regulating agencies 

Building a business brand in Nigeria can be difficult sometimes, especially for a foreigner due to overwhelming tax and the burden of regulation. The environment can be sometimes toxic, but it depends on how you navigate your way. 

So to avoid a turbulent run of disappointments, expect your tax to grow as your business expands, and expect a little scuffle with necessary regulatory agencies. However, regardless of the level of regulations and tax, always find your ways to the same page with the regulating agencies of your industry. 

You are also expected to get the regulatory licenses you need and pay the associated taxes and levies. This will save you and your business some future stress. READ ALSO Most consumed goods in Nigeria 

4. Create more financial security option 

Sustaining a business brand in Nigeria demands time and unhindered capital inflow. For this reason, you must create credible financial security for yourself, and apparently, this may involve bits of help from friends and family members. 

Also, consider formalising the process of exchanging cash for equity with the appropriate legally binding paperwork. Getting loans from banks is another financial security opinion, though this may not be advisable considering the fact that banks in Nigeria are not friendly to small businesses and budding startups. 

If you should take the bank loan option, be sure that your business is going to pay back within the time frame of the agreement by both parties. Another option is grant. You can also seek funding from investors willing to channel resources into your business brand and ideas. A big idea needs a proper plan, moral and financial supports. Don't be shy or afraid to allow like-minded people to be part of your future success story. 

5. Build your reputation as you build your business 

It is necessary that when you are planning to build your brand and turn your idea into a great business, you must build your reputation also. Obviously, this is where publicity comes in. You need to make yourself visible the same way you strive you grow your brand and ideas. 

Publicity, which is totally about awareness, is not only product and organisation. As a business owner, you must invest in yourself to give your business acceptability and patronisation.

Best Courses to Study in the World

Every student selects a course that they believe will help shape their careers and build a solid future. The selection process sometimes starts when one is in high school. While still young, one may want to follow their passion. 

Growth and the dynamics in the education sector may make one change their mind once they come of age and understand why certain programs are more recognized. The best courses to study in the world guarantee one stable employment and great career life. 

Technology and innovation have changed the world massively. Some programs never existed in learning institutions a few decades ago, but thanks to technology, they are among the best. The dilemma of picking a course should be made lighter, especially for students who know which subjects they excel in. 

Choosing a course because one thinks it is trendy can be catastrophic, especially if you are not well-versed in the field you pick.

What are the best courses to study? 

Fields like Finance, Engineering, Healthcare, and Information Technology will always be in high demand. However, it is wise to consult with teachers, parents, and mentors on what courses to select before picking what to focus on in school. The following are the top 10 best courses to study at the university. 

1. Information Technology 

What is the best course to study in 2020? Technology runs the world today. Any basic action performed by governments, in homes, and whichever sector requires some form of technology. Information Technology is a broad field. 

It produces web developers, computer scientists, specialists who maintain databases, and all sorts of experts. Taking any IT course assures you a bright career as both big and small companies are always looking for IT experts. Some firms even take it upon themselves to train the experts as some learning institutions do not teach some critical skills. 

The best thing about taking IT is that you can work in any firm in the world. 

2. Medical and Biological Sciences

Which field is best to study? Medicine is the best field to study. Medical practitioners will always be needed in society. As much as people try to lead healthy lives, emergencies happen that require trained professionals. Doctors, nurses, clinical officers, and everyone in the healthcare field are deemed an essential service provider. 

The world's population is growing, and so the services of healthcare workers are needed more. Researchers and scientists are also required as they work on various discoveries in the medical field. 

3. Entrepreneurship Entrepreneurship courses are among the top tier courses you can go for. The world needs individuals who are gifted in the business field. The past few years have seen the tremendous rise of startups, which have brought massive changes. Going for entrepreneurship and startups courses will help one transform the little money they have to a huge investment leading to the building of an empire. 

Serious investors will not think twice about sharing their capital with someone who understands entrepreneurship inside out. 

4. Pure Mathematics and Statistics 

Data and statistics are created every day. This is why the world needs people who understand mathematics and intricate technology to help break down and use all the data floating around. Mathematicians and statisticians use complex technology to manipulate data using computers. 

We may be living in the digital era, but not everyone can understand complex data. Experts who have gone to school and have had the experience while working on given data can help the layman understand basics. They can also assist institutions and governments to do tasks like planning and management of human behavior. 

5. Business Administration and Sales 

If you aim to be the head honcho of a successful company one day, then Business Administration may be a course you want to consider. Many CEOs and other leaders in managerial positions have a background in Business Administration. 

Having a background in sales is also important as having skills in sales helps promote and sell products and even grow a brand. Business Management and Business Administration programs can be topped by other short accounting courses or related finance degrees. 

6. Engineering 

Engineering is one of the traditional courses that will never go out of fashion. Just like IT specialists, engineers are needed in most sectors. Some of the most marketable engineering courses include Engineering Management, Chemical Engineering, Mechanical Engineering, and Electrical Engineering. 

Software engineers are also as important as the other engineers who do more physical work. Thanks to software engineers, people get to enjoy sophisticated communication gadgets like phones and computers. Engineers will always be in demand as, without them, systems will remain broken. 

6. Clinical Psychology and related courses 

Psychologists are among the highly regarded professionals in the society today. For the longest time, only a few students were taking psychology at the university. Decades back, psychologists were not as many as they are today as the services they provided were not considered crucial. 

Changes witnessed in the society, mental awareness campaigns, and encouragement from the government and humanitarian organizations have called for more services from psychologists. With the increase in mental illnesses and diagnoses of new psychological conditions, the need for psychologists will always be there. 

Animals are also getting treated for mental conditions. 

8. Finance 

Imagine a world without money. Impossible! Money runs the world. It is the sole reason why most people get up early in the morning and go out in the world to make things work. Without finances and the circulation of money, today's world would not be where it is. Taking a finance course would be a prudent move, as there are thousands of opportunities where one can utilize the knowledge gained and make money at the same time. 

Money management, investment, stocks e.t.c will always require experts who understand money matters. The world is expanding, and so is the pool of money. 

9. Law 

As long as legal systems in the world function, lawyers will perpetually be necessary. Law has always been an elite course. The sharpest minds take law as it requires skills in critical thinking, master of various laws, and completeness in representation. Companies, governments, and high-profiled individuals always have lawyers on standby for advice or any other legal battle or emergency. 

The limitation of taking law is that countries do not follow the same legal process, so one may only be restricted to practice law in the region that applies the law they have studied. 

10. Architecture and related courses 

The creative work architects put in when designing buildings cannot be under-appreciated. Architects are known to bring beauty and vibrancy in the community through their constructions. Architects contribute to the happiness and healthy state of neighborhoods through their creations and designs. 

A city or town that has stunning buildings brings more appeal to its residents and even visitors. People will continuously need buildings to work and live in, especially when families expand, leading to population growth. Businesses also tend to thrive in areas that have a happy population with beautiful architecture.

The best courses to study in the world are also competitive as everyone wants to be the crème de la crème. The stiff competition may lock out some students who do not put in extra effort. Taking short courses related to your major on the side is also advisable as they build your resume and put you at an advantage over your peers. 

However, the end goal is to have a career that can sustain you after school. 

These top universities in Nigeria are the most popular and acknowledged because they provide the best quality of education. You can learn more about the institution that caught your eye by visiting its website. 

Go ahead and make the right choice now so the next years of your life will not go in vain.

How to Earn Money Online from Forex Trading

Earning money has generally been linked with and limited to traditional ‘offline’ routes. With the Internet advancing and being a major part of our daily lives, the majority of individuals are searching for methods to earn money online in order to augment their finances. This turns into secondary or passive income that can facilitate them to manage their expenses.

If you are looking to earn passive income through an online source, then the forex market arena is a possible method to get profits. So how can you earn online? Forex is a lucrative market with a net worth of approximately $2 quadrillion. It is also a highly liquid market, however, you will need to know the right techniques and strategies to be profitable in this market.
Understand the Market

Prior to executing profitable strategies and putting plans in motion, it is essential that you completely understand the market and the possible risks involved in trading forex. This trading technique is mainly done online, allowing a trader to gain profits or lose money. The trade ensues by purchasing instruments in one currency and then selling it in another. These are known as currency pairs. Knowing when to invest in a particular currency pair is how you can earn online.
Find a Suitable Forex Broker

To be a success in the forex market, it is essential that the broker you partner with complies with the prevailing regulatory framework that conserves the integrity of forex markets. In this market, there is a serious chance of falling victim to brokers who are a scam. There have been numerous occurrences where the traders close their operations after the transaction costs rise and the investor begins to lose their life’s worth of savings. So avoid opting for brokerage firms that have such practices. When you come across a good broker or platform, make sure to research their reputation by reading reviews and how people perceive them online. Best forex brokers shows the pros and cons, and the background of XM brokers. They are reliable and regulated brokers who support webinars and research materials. These permit traders from various international countries to engage and begin earning online.
Practice through Demo-Account Option

Novices in forex trading must take their time to practice using the free demo-accounts that the majority of trading platforms provide before investing real capital. The situations created reflect that of the real forex market. Moreover, it offers an excellent chance for learners to get comfortable with currency trading, recognizing patterns in the market and looking through a variety of trading methods. In addition, traders can extract information, advice and educational videos regarding forex trading when using the demo account. After you have mastered the trading skills on a demo account, then you can get big gains by investing real capital.

Having more than one income stream is essential in this highly expensive world. There are multiple earning sources online. A lot of individuals are opting for online earning methods because it does not require a 9-5 duty time and can lead to major profits.