I can’t believe the tour is almost over. By Day 3, I was feeling like a truck had run over me for real. I am living the quote “No matter how you feel, get up, dress up and show up”. The hardest part really is showing up; once I get to each location and the sessions start, my energy comes back up.
I must mention too that the government of Lagos state has done a great job with traffic management. Navigating all these locations hasn’t been as stressful as I imagined it would be. Even when the rain came down while I was running my sessions in Lekki, driving out of the area was still pretty much a breeze! Bravo! (Eko o ni baje.)
Capital Square Lekki was just as beautiful as the Ikoyi branch. Lovely designs and colors popping everywhere. I went to town with pictures! Couldn’t resist. Lol. One brave mumpreneur showed up despite the downpour and we had a great session. We love you Millicent Ugboh
I just had to bring this up after more than three of the women I have spoken to in the course of these sessions mentioned that the bulk of their clients have come mainly through referrals and Social media (particularly Instagram). When the mumpreneur I spoke with yesterday mentioned this again, I made a mental note to add it to my summary.
We now live in a world where, content drives sales. People want to buy from brands that engage them and build relationships with them. Decide your target audience upfront and start engaging them. Your communication and visuals should appeal to your pre-determined target.
There’s a lot more to note, but this should do for a start.
Whatever you do, get a lawyer on your startup team. Don’t think about it as a waste of resources. Most startups think that getting a lawyer isn’t necessary and will rather wait till they get sued or served with summons and complaints; by then it will be too late and you might have to pay a huge settlement. The cost savings you thought you had by avoiding this will be wiped out in a minute. A good lawyer should be able to handle the vital aspects of your business like copyright, trademark advice, business incorporation with CAC, trade agreements, lawsuits, and liability. His or her overall job is to ensure that you are on the right side of the law and protected at all times.
Most small businesses put off the thought of having an accountant on their team. They believe that the role is irrelevant at the bootstrapping stage – after all, it’s just about keeping the money, but this can actually hurt your business in the long run. Having a good accountant is crucial for your company’s structure and success. You should endeavor to have an accountant even before you launch.
An accountant should be responsible for designing your accounting system; this makes compiling financial reports easier. S/he also has a role to play alongside your attorney, from inception to help you decide the ownership structure and the type of business entity. Your accountant is meant to ensure that the correct taxes are paid at the right time. S/he is responsible for managing your business finances while making sure that personal and business finances are separated.
Note: It’s very important that you are involved in the process of developing your accounting systems and policies. It’s your business; you decide the numbers.