Think Insurance

Think Insurance

October was a tough month for almost all citizens of Nigeria and even tougher for some business owners and entrepreneurs in the country. Businesses close up in just a day; the labor of years or months went into thin air. And for the first time in my life, I saw that insurance is not just a luxury; it is necessary.

Before now, I saw insurance as an unnecessary expense, like, “who needs it anyway? after all, we are covered by the blood of Jesus. ”

A business person or entrepreneur’s life can be frightening, from getting funds, ideas, and the right company (relationships/employee). Sometimes, the business world can be scary and accompanied by the risks of losing capital, looting, robbery, and other unknown incidents. However, we can’t seize being entrepreneurs just because of the risks involved.

Have you ever thought of the different insurance you will make in your business journey? Okay, how about thinking of reasons to insure your business?

Well, no need to think so far. As a good person, I thought for you and did the research, too. So here are the reasons why you should think of insurance;

  1. Saves your business and keeps it running: when an unfortunate situation happens, aside from you and your relations, who can give you a helping hand? Business insurance got you covered on this; no need to go about knocking on doors for help.
  2. Adds Credibility to your business: it gives your customers, investors, and patrons a good perspective of your business, that it’s safe and a good choice. They trust you more. Some contracts require it. In other words, you wouldn’t be qualified to receive some contracts if you don’t have business insurance.
  3. Secures the business’s future: With business insurance, you can be at ease while watching your business grow.
  4. Prevents the unpleasant aftermath of being sued: I have heard people say, “one lawsuit could be the end of your business.” Without business insurance, there are high chances that a business will fall apart after encountering any lawsuit of a liability claim.
  5. It covers natural disasters and calamity: Natural disasters or calamities cannot be controlled or predicted. Thus, they can happen anywhere. If a business without insurance is affected, the owner on his own takes care of it.
  6. Insurance is compulsory in some countries: Business insurance is compulsory in certain places, and by doing otherwise, you are not complying with the law.
  7. Protects employee: Human resource is the biggest capital for any business. When employees work very hard to deliver value, there is a possibility that an employee might get injured. As an employer, it’s your responsibility to provide medical care. If there’s insurance, that would be taken care of, too.
  8. It gives peace of mind. I tell you, you deserve the peace of mind.

Every business is different. So, the insurance needs of every business are different. You should see an expert to guide you on the insurance plan you need.

So, do you think there’s a need for business insurance? Why? We will love to hear from you in the comment section.



Yes, you read the title right! There’s a difference between an entrepreneur and a hustler, just like a wholesaler and retailer are different people. Follow me, let me tell you a story.

I was privileged to work with two bosses (at different times, though). I will tag my first boss, “Mr. Entrepreneur,” and my second boss, “Mr. Hustler.” They manage an IT training institute. Working with them, I had different experiences and feelings, and I would relate them to you.

Mr. Entrepreneur’s office is a small place yet beautifully furnished, has a receptionist desk, classrooms with systems neatly arranged with a board, and a standing fan.

Mr. Hustler’s office is also small with no particular arrangements, few systems (mostly faulty), Photocopier, or scanner (according to customers’ needs). The office is arranged according to the task for the day.

Mr. Entrepreneur employs qualified or trained people and offers staff training monthly. All staff members have their responsibilities duly stated. He believes in giving value to his students.

Mr. Hustler employs few high school students/graduates with little training; they also run his other petty businesses. He gives them materials to use and copy on the board for students. He will say, “you don’t go too far with them( their students). Just the basic is enough for them. Moreover, they wouldn’t know”.

At the end of the training, Mr. Entrepreneur awards the student with certifications immediately (as it’s included in their fee). Mr. Hustler, however, collects money for certificates and never shows up the certificate, just stories. Employees have to make up a story each time a graduate shows up.

Mr. Entrepreneur specializes in just IT training and gives the best. Mr. Hustler shifts to any area in IT that pays. You may not be surprised if he becomes a technician tomorrow. Mr hustler makes the photocopy, does the typing and printing services, stationery sales, laptop, and phone repairs, phone and laptop accessory sales, scratch card sales, IT training, and management training. Not like we have all these available in the office, we just switch from one to another when there’s a need.

Mr. Entrepreneur has sound financial management skills; all transactions are duly recorded with receipts and, on a few occasions, had issues with his staff salaries. On the other hand, Mr. Hustler would pocket each payment immediately without any form of record, use the business income as he wants, and leave staff salaries unpaid. Well, they leave after a while, and new staff members take their place.

Mr. Entrepreneur’s business has expanded as they have more students because of the needs they meet and the excellent services they give. Mr. Hustler is still hustling, his business is stagnant, but he has built a house and owned a car.

Working with Mr. Entrepreneur was impactful as I got my skills sharpened and got new skills. Working with Mr. Hustler was draining as he never gives room for excellence, just anything that brings money.

One of the significant differences between an entrepreneur and a hustler is their goals; an entrepreneur works with a long term goal of building and sustaining a long term business and opportunities while a hustler works with a short term goal, which is to make quick money.

A hustler needs to keep hustling to avoid his income crumbling while an entrepreneur can relax at a point, and the wealth system he has built over the years works for him.

So, are you an entrepreneur or a hustler? If you are an entrepreneur, congratulations. If you still a hustler, it’s not a bad thing; just don’t let your aspiration stop there. Seek to build a sustainable business.

What else does a hustler have to do to become an entrepreneur? We would love to hear from you in the comments section!

The Lessons About Values from Mr. Ibu

The Lessons About Values from Mr. Ibu

When I use to do Nigerian movies, one of my favorite actors when it comes to comedy was John naira Okafor popularly known as Mr. Ibu. In one of his movies, he found a wallet full of several hundred-dollar bills and some few a thousand-naira notes in a “danfo” bus.

On reaching home, he took the notes and pasted the dollar bills in his room as decoration. A friend who knows the value bills came visiting and asked to have the remaining bills so that he, too, can use it to decorate his room. Mr. Ibu reluctantly gave him the remaining large chunk of the notes. You can imagine what happens next.

As I was reminiscing on this story this afternoon, two things lessons became clear to me, and I will love to share it with you.

1. Ignorant of a value does not reduce the value.

Simply because Mr. Ibu doesn’t know the worth of those hundred-dollar bills does not reduce the worth of the bills.

Let’s look at the business perspective. Because some people are ignorant of the value of your product or services does not appreciate, it does not mean the value has reduced. Do not cut your value to their level of understanding rather help them to increase their understanding of your value. That’s why effective value communication is a fundamental part of your business activity.

Alternatively, you can focus on those people who understand and appreciate your value. I mean, those whose values resonate with yours. Hence the need for market segmentation. The two can even go hand-by-hand is you have enough resources to pull it.

Now from an individual perspective, of almost 8 billion people on earth, you are the only version of you. That means you have something to offer or do in a unique way that nobody else can, and that’s your value. The fact that you have not discovered it yet does not mean it’s not there. So, don’t ever think you are worthless.

2. If you don’t know your value, others who do will use you.

The world is full of several of Mr. Ibu’s friends – people who know your value and know that you don’t know your value. And instead of helping you to discover it, they will rather exploit you. It could be your friends, your employer, your clients, and even your customers

Always ask yourself, am I really been appreciated for the value I’m bringing to the table? When it comes to the exchange of values, never think the next party is doing you a ‘big favor.’ That does not mean you should be an ingrate; it does mean you should strive to know your value and what it worth.

Life is a journey, and one of the exciting things about it is a fact that it is a journey of self-discovery. The more of the adventure you undertake, the more you understand what you are capable of, which sets you apart from others. How much of your value do you know?

Do you learn any lesson from Mr. Ibu’s story? Share with us.

Wrong Reasons for Starting  A Business

Wrong Reasons for Starting A Business

One of the major reasons many startups fail can be traced back to why they started the business in the first place. When your intention is wrong, your actions cannot be correct.

I will be sharing with you some common wrong reasons to start a business

1. Because I’m Broke

Everyone needs money. Even the rich get broke sometimes. But because you are broke is definitely not a good reason to start a business. Here is why?

Businessmen are not money people. Money is not the purpose of business it is a consequence. Any business that is built on the sole foundation of making money will soon run out of the market. The goal of any business should be to provide value and solve people’s real problem. Then people pay you for solving their problems. So if you are broke and you are not solving people’s problems, you can’t make money. Don’t get me wrong, you should make money from your business, but let that not be the only reason you are starting the business.

Another reason you should not start a business just because you are broke is that there is no guarantee that you are going to have your immediate financial needs met by that business. If however, you are lucky to make money, chances are that you will be spending the money when you ought to be multiplying it or growing your business.

So what should I do when I’m broke? look for a job. What if there are no jobs? that’s why you should look for it. There are really no Jobs.

However, if you have a solution to people’s problem and you are broke. That will be a perfect time to start a business because you have double motivation.

2. Because I don’t want to work for anyone

My mum told me that my granddad used to tell her that if a pot is leaking in my village, taking it to the next village will not prevent it from leaking unless it is repaired. Why do I start with this? If you can’t work for somebody’s business, you will most likely not be able to work for yourself. If you are lazy about working on someone, chances are that you will transmit the same laziness into your own business.

Laziness is not the function of the task or the taskmaster but your attitude. If you don’t deal with it, it doesn’t matter what or who you are working for, you will continue to be lazy. Business requires hard work if you are looking for how to run away from work, starting a business is not an option.

I can authoritatively say that business owners work more than employees. There’s nothing like weekend, public holiday and off -office hour for those who have businesses, especially when the business is still at a startup phase. Whether it is another person’s business or your own business, you are still working for somebody anyway. Either your employer(s) or your customers.

What if my job is too demanding, what should I do? Well, I don’t know. But what I do know is that if you are going to build a sustainable business, it’s going to be demanding as well. If you have a clear solution to a problem and you think people will pay you for solving it, then you are good to start a business.

3. Because I have an Idea

Yes, I mean it. Having an idea is not enough reason to start a business. First, it’s not all good ideas that are business ideas. If all people say about your idea is “wow! That’s a nice idea” without the corresponding readiness to bring out the money in exchange for the value, then you don’t have a business idea.

A business idea must not sound very ‘out of the box’ but it must be the one that will make people pay you. Whenever you have that mind-blowing idea, one of the first questions to ask is “who is paying for this value and why should he be willing to pay for it?”.

Secondly, not all ideas can be successfully or competitively implemented by you due to some limitations such as skill(s), market readiness, geographical location, legal demand, etc. In this case, a partnership becomes not only important but necessary. Remember, the idea is just 1%…execution is 99%.

You don’t just start a business because you’ve got an idea, but you must have an idea to start a business.