Showing posts from July, 2014

Business Lessons to learn from Nairaland’s recent shut down

Recently, nairaland was down for a few days and the entire Nigerian cyberspace felt the ripple. As is usual for me, the day starts with checking up the latest news on a few websites including nairaland. That day, I was so shocked to find that nairaland wasn’t up. After about three days offline, nairaland came back up and even though about 5months data was lost, people carried on using the service seamlessly (a few complaints here and there though). How switching costs locked us in Here is the interesting part – having read about the psychology of internet users and knowing that the average internet user is impatient, one would have though a three day absence was enough to blow nairaland to obscurity but NO. That didn’t happen. In fact, people were thankful for what was retrieved. Over the years, nairaland has been a vital source of relevant “local” information. There is literally nothing you cannot find on nairaland. It is sort of like a Nigerian encyclopedia. The massive da

5 steps to succeed in the CFA Exam

By now you must have read my article on how to bag a CFA Scholarship and most likely already have nicked it. Congratulations !! Wining the scholarship is just the first step down the line. Below, I share 5 key steps which are guaranteed to ensure you make the most of the CFA exam. 1. Have a study plan and strictly follow it. 2. Read and UNDERSTAND the CFA® Curriculum and/or prep provider’s materials. 3. Do all End of Topic (EoT) questions and blue boxes included in the CFA® Curriculum to check if you understand the material and to review it. 4. Do many tests and mock exams to understand how the exam is structured and to grasp what the exam may look like. 5. Participate actively in study groups (both real and virtual ones) to improve and master your knowledge while asking and answering problematic questions. You will find all these 5 key ingredients at Soleadea - a CFA Study Portal that helps people aiming for the CFA® certificate prepare for the exam. Soleadea

Understanding Franchising

What defines a business as a franchise? Business format franchising can be explained as the granting of a license by one person (the franchisor) to another (the franchisee), which entitles the franchisee to trade under the trade mark/trade name of the franchisor and to make use of an entire package, comprising all the elements necessary to establish a previously untrained person in the business and to run it with continual assistance on a predetermined basis. Legal Implications of a franchise Under a Franchise, the two parties the Franchisor and Franchisee are two separate legal entities. What passes from the Franchisor to the Franchisee is simply its trademark. Examples of Franchises operating in Nigeria • KFC Being operated by Devyani International Limited • Mr Biggs being operated by several Franchisors across the country • Oando Filling Stations across the nation • Nandos, Coldstone Creamery etc Franchising and Accounting Networks : The Big Four Accounting Firms issue