Apple announced the launch of a new initiative called The Apple Entrepreneur Camp, on Monday, November 27, 2018. This initiative is designed for supporting women founders who are focused on app development.

The first session, which is free, will hold in January 2019 for two weeks. It is open to women-owned businesses which have developed or in the process of developing an app.

The program will have quarterly sessions for 20 app companies going forward, but the pilot session will select 10 companies.

“We wanted to focus on women who already have an app-driven business, and we don’t require them to have an iOS app,” Apple Senior Director of Worldwide Developer Marketing Esther Hare told Tech Crunch.

[Read: How to Start and Launch an Online Business]

After a successful completion of the two-week program, attendees will have access to a year-long membership in the Apple Developer Program, tickets to the next Apple Worldwide Developers Conference and access to the Apple Entrepreneur Camp Alumni Forum.

Do you know a woman-owned business or startup focused on app development? It’s time to tell them about The Entrepreneur Camp.

 

 

 

 

Starting a new business is one of the most exciting times in the life of an entrepreneur. However, the excitement can easily wane of if many things begin to go wrong one after another. There is no doubt that we all have made mistakes and will continue to do so throughout our lives no matter how careful you are. The problem, however, is when those mistakes become routine or are completely avoidable.  Every entrepreneur should take the time to conduct a research prior to starting a business and one of the researches should be to learn from the mistakes of others. My goal is to share six of the common mistakes that an entrepreneur can and should avoid before diving in.

1. Failure to have a thorough understanding of how your business will make money

Do you have a thorough understanding of how your business will make money? Just before you say “yes”, let me say this, making money in your business is not just about making sales, it’s about being in good standing in terms of cash.

You might be making sales and still not make money or have enough cash flow. If your recurring expenses are way higher than your sales, your business will never be in good standing.

So now, let me ask the question again. Do you have a thorough understanding of how your business will make money?

[Read: The Period of Waiting is not the time of Lamentation]

Earlier this year, I was reviewing the business financial statement of a client who needed help with her business. She couldn’t figure why she was making so much in sales but could barely make ends meet. At first, she thought she was mixing business funds and personal funds together, so she started separating funds. After separating funds, the problem still persisted and that’s when she sought help.

Not having a thorough understanding of how your business will make money is one mistake you should definitely avoid by paying attention to your pricing mechanism and expenses.

When pricing your products (goods/services), you must put your fixed and recurring expenses into consideration.

2. Failure to sell what the customer wants

No matter how grand your business idea might be or how passionate you are about your business, if no one is interested in your products (goods/services), your dreams of building a profitable brand will be shattered. The only way you can build a profitable brand is when you have the right mix of products and people who are willing to pay you.

A brand with no customer is a time bomb waiting to explode.

In order to prevent this mistake, you must do three things.  First, is validate your business idea before you launch.  If peradventure you launched your brand already, you should conduct a market research and survey your target audience. Lastly, if you’ve been in business for a long time, always ask your customers for a feedback on how you may better serve their needs.  This will help you to know what to avoid while also helping you identifying potential opportunities for growth.

[Read: 7 Ways to Monetize Your Skills]

3. Failure to consider the competition

Truly, the sky is big enough for everyone to fly without touching wings but that does not mean you should be oblivious of your competition. Even if your business idea is grand and no one has ever thought about it, sooner or later, more people will start that same business and vie for the same customers you are depending on. Therefore, you cannot build a profitable brand online while completely ignoring your competition. Prior to launching your brand, you must list the top 3 competitors in your industry and analyze their strengths and weaknesses.

You must understand how you will differentiate yourself from your competitors and list compelling reasons why you believe customers should choose you over your competitors.

Failure to consider competition is a leading cause of failure in business and this is one mistake you want to avoid as much as it lies in your power.

4. Too much reliance on do-it-yourself

Almost every entrepreneur I have come across thinks they can do it all by themselves. While this is a good quality to have, it might not work in all situations and end up being costly.

Nobody can be good in everything or in every area. You might be really good in some aspects of business but in the other areas of your business where you might be struggling, learn to seek professional help.

For example, I am not so good with the accounting and tax part of my business, so I occasionally hire a professional for a few hundred bucks, who can help put things in order on my behalf. I free up my time by delegating some of the tasks to some other people who are willing to help. Time is so precious and you cannot afford to spend hours doing what someone else can do in a fraction of the time you would spend doing the same task.

[Read: 4 Steps to Becoming a Brand in Demand]

5. Failure to possess the required experience needed

We all know that you do not have to be great to get started but you do have to get started to be great.  However, for your brand to succeed, you need experience as it relates to the services or goods you are providing to your customers.

Experience comes from doing and doing something repeatedly is the mother of skill.

As a budding entrepreneur who truly wants to build a profitable brand online, you must be committed to building your experience in your area of expertise. If it takes volunteering for other organizations or attending power-packed training, seminars, and events, be committed to giving it all it takes to gain experience. Gaining experience makes you become valuable in the marketplace and in turn, helps you to build a profitable brand online.

6. False Illusion as to the efforts required

The truth is, owning a business requires a lot of hard work. It definitely doesn’t come on a platter of gold. The beginning often involves working long and extra hours. You have to keep up with the trends, especially with technological evolution. You have to learn as much as possible within a very short time.

To achieve groundbreaking success, you should have a strong passion for your business, be hard-working and learn to maintain a positive attitude always. Do not allow yourself to be distracted from your main goal. Just keep taking daily steps that will lead you closer to your goal.

This list of common mistakes is not exhaustive and there is no amount of literature you can read that will stop you from making mistakes in your new business. However, if you keep these points in mind while also learning from your mistakes, you will come out on top and build a profitable brand!!

Thanks for reading. What other common mistakes do you think an entrepreneur should avoid when starting a business? Please leave a comment and share this post with a friend.

I have a weakness and my weakness is that hardworking women gets my attention 100% of the times! What’s not to love about a hardworking woman filled with passion, love and committed to making a difference?

One of such hard working women that have gotten my heart is Oluwatobi Busayo Asenuga, CEO, Rubidily Baby Store, the number one online baby store in Nigeria. I met this amazing woman on the “streets of Zukerville” when she joined my freemium Facebook Group for power women entrepreneurs and it didn’t take long for me to realize that she had a dream bigger than “self.”

Her attitude got me curious so I tracked her down for an interview where she shared her dreams, hopes and aspirations. Read her story below and be inspired.

What informed your decision to start your business?

In 2014, while shopping for my soon-to-be-born baby, I felt some type of indescribable joy inside of me and I said to myself, “what if I am also part of other women’s joy by starting a brand that caters to babies?” That was the beginning of the beginning.

After I had my baby and going through all the rigors of motherhood, the thoughts of starting my baby brand became even stronger. I knew instantly that owning a baby brand would not only afford me the opportunity to be a part of other women’s joy but it would also give me an opportunity to educate, enlighten other women on what to expect as they navigate the difficult terrain of motherhood and ultimately making a difference. And so with very little money, I took a step of faith and started Rubidily Baby Store.

What is the mission of your business?

The mission of Rubidily Baby Store is not just to sell baby essentials, it is to make a difference by coming alongside mums of toddlers and provide them with the much-needed support needed to raise a total child in the first 5 years of life.

What is your vision? Please include where you will like to see your business in 5 years.

My vision for Rubidily is to build it as a brand to be reckoned with when it comes child and mother health. I want Rubidily to be instrumental in reducing child mortality rate in Nigeria by at least 20% in the next 5 years while also being the number one for mums seeking quality items for their toddlers.

What makes you different from other similar businesses?

I am a firm believer in offering value. I have a genuine passion in what I do and so I bring my loving self into conversations with mums and mums-to-be while also creating a platform of mutual trust and understanding. Rubidily Baby Store is not just a baby shop – it’s a haven for mums.

What current projects are you working on?

Currently, I am looking forward to starting an NGO next year tagged “ It’s New To Me.” My goal is to collect baby and toddler items from mothers who no longer need them and then donate items collected to the less privileged mothers in society. Also, in line with my vision of reducing child mortality rate, I intend partnering with well-meaning people, governmental agencies and international organizations that are committed to providing sterile birth kit to women in rural areas in Nigeria.

Do you have any advice for those who would like to start their business?

First, it is important that everyone who wants to start their business should believe in themselves. According to my mentor Seun Akinlotan, if you are a business owner, you already understand how draining it is to be an entrepreneur. Beyond the glitz and glamor of entrepreneurship displayed online belies countless hours of hard work that has a semblance of slavery. In this case, slavery to work that comes with trying to build a profitable brand.

My advice to those who are yet to start their business is to get a mentor that will hold their hand. Also, they need to identify with people who are headed in the same direction as them. For me, I draw my strength from my OSBS Elite sisters.

What is your best quote?

Be the help someone needs. Together we can make the world a better place.

How do you want people to support you?

This is hard! However, I will be extremely grateful if people can support my cause by providing clothes and necessities for the less-privileged mums in the society by donating baby items they no longer need. I will also be highly appreciated if people visit the Rubidily Baby Store on Instagram and Facebook as 5% of my profit are channeled toward humanitarian causes.

 

See more collection on Instagram

How can customers reach you? Include website, social media links etc.

Customers can reach me via, Whatsapp, Facebook, and Instagram

You can reach me by calling +2348136786943

Thank you for reading! Have a question for Tobi Asenuga? Kindly leave a comment below and remember to share this post with a friend.

 

Nigeria is one of the few countries if not the only country only country in the world where its citizens heavily depend on generators due to the epileptic power supply. And even though the country returned to a democratic form of government since 1999, successive governments have been largely unsuccessful in providing tangible solutions but one startup is set to change that by replacing generators with renewable energy in Nigeria using blockchain technology. That startup is none other than OneWattSolar, a startup based in Lagos, South West, Nigeria.

The idea is simple. OneWattSolar wants to allow its customers to pay for solar energy using blockchain technology. The more interesting thing to note is that customers will not be required to pay for solar system infrastructure because these will be funded by financial backers.

Great ReadPassion. Knowledge. Self-confidence. Which of these should come first as an entrepreneur.

It was a concept Victor Alagbe, the company’s vice president of operations and blockchain strategy, had been thinking on when reading about Elon Musk says CNN

What is a Blockchain?

 According to Wikipedia, a blockchain is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a merkle tree root hash).

Why Blockchain?

 A blockchain is designed to be resistant to modification. It’s like a ledger and once the transaction is recorded, it is usually permanent and easily verifiable. This is great especially when people are interested in how their money is being spent and it helps in tracking customers’ use as well.

It will be heartwarming to see this technology work out and it will be exciting to kiss generators goodbye in Nigeria in the nearest future.

Thank you so much for reading! Do you think OneWattSolar is up to the task? Please leave a comment and share this post with a friend.