Storyscape With Oluwasegun

In Nigeria’s unpredictable economic environment, failure is more than just an obstacle; it’s a crucial component of business strategy. Understanding how to leverage failure can turn economic challenges into opportunities for growth and resilience. Here’s how the business of failure can specifically impact Nigerian companies and entrepreneurs: 1. Learning and Growth Amid Economic Volatility - Adapting to Economic Shifts: Nigeria’s economy is marked by significant fluctuations, such as fluctuating oil prices, inflation, and currency instability. Companies that fail due to these issues gain valuable insights that help them adapt their business models. For instance, businesses that faced challenges due to currency devaluation might pivot to sourcing materials locally or adjusting pricing strategies to maintain profitability. - Building Resilience : Navigating economic downturns builds resilience. Businesses that learn from their failures develop strategies to better handle fut

Sometimes, a vendor (someone you buy from) might suddenly ask you to pay more money than what you both agreed on. This is called a price hike . In Nigeria, this can happen because things like fuel prices or the value of money (Naira) change a lot. When a vendor does this at the last minute, it can cause problems for your business. Here’s how you can handle it: 1. Check Your Agreement    - Look at the Deal You Made : Go back and check the agreement or contract you both signed. If you agreed on a fixed price, the vendor shouldn't ask for more money.    - Know Your Payment Terms: Make sure you understand what was agreed on about payments. Remind the vendor about these terms. 2. Talk to the Vendor     - Ask Why : Find out why the vendor is asking for more money. It could be because the cost of things they need has gone up. Understanding their reason can help you decide what to do.    - Explain Your Side: Tell the vendor how the price increase might hurt your business. Be c

Introduction In Nigeria, "buka" restaurants are more than just places to eat; they are vibrant cultural hubs that reflect the soul of the nation. These roadside eateries serve affordable, home-style meals and are frequented by a diverse cross-section of society, from blue-collar workers to students and even professionals. Despite their humble appearance, bukas play a significant role in Nigeria’s social and economic landscape, offering insight into local food culture and community life. The Buka Experience: A Cultural Snapshot Bukas are known for their no-frills, authentic approach to Nigerian cuisine. Typically, they serve a variety of local dishes like jollof rice, pounded yam with egusi soup, amala, and pepper soup. The food is often prepared in large pots, with the aroma drawing in passersby. The setting is usually informal, with diners eating on wooden benches or plastic chairs under makeshift shelters. Cultural Significance: - Authenticity : Buka meals are o

If you have a product that’s not selling well and you want to move it without running out of stock, here’s a simple way to do it. Whether you’re a salesperson, a sales manager, or a merchandiser, these steps will help you. 1. Check Your Stock and Sales First, look at how much of the product you have and how much you’ve been selling: Check Your Stock : Find out how much of the product is left in your store or warehouse.    Look at Sales : See how much of this product you’ve sold before. This helps you understand how well it might sell during a promotion. Knowing this will help you plan better. 2. Plan Small Promotions Next, decide how you want to promote the product without causing too much demand: Target Specific Customers: Think about who would want to buy this product and focus your promotion on them. This helps you avoid selling too much at once. Offer Limited-Time Deals: Create short promotions, like discounts for just a few days. This makes cus

1. Introduction : Nigeria’s Night Economy As the sun sets over bustling cities like Lagos, Abuja, and Port Harcourt, a different Nigeria comes alive. The traffic jams ease, the street vendors pack up, and the chaos of the day gives way to a quieter, yet equally vibrant, night-time economy. This is the world of Nigeria’s night workers—individuals who take on the challenging task of keeping the country running while the rest of the nation sleeps. From the street corners of Lagos to the quiet wards of Abuja’s hospitals, these workers are essential to the fabric of Nigerian society, yet their stories often remain untold. 2. Types of Nigerian Night Workers Security Guards In Nigeria, security is a major concern, particularly in urban areas where crime rates can be high. Security guards play a critical role in maintaining safety and order, especially at night. In cities like Lagos, guards are stationed at residential estates, office complexes, and banks, keeping watch

As a content writer and publisher with experience in managing customer interactions, I've learned how crucial it is to handle angry customers effectively. A key aspect of this is knowing when to stop talking. Sometimes, silence can be more powerful than words. Here’s how to navigate this delicate balance, especially with customers who value respect and direct communication. Understanding the Angry Customer When a customer is upset, their emotions are heightened, and their primary need is to feel heard and understood. Your role is to be a compassionate listener rather than a persuasive talker. The Art of Active Listening Active listening involves more than just hearing words; it requires understanding the emotions and concerns behind those words. Here’s how to practice active listening: 1. Empathize : Show genuine empathy by acknowledging the customer’s feelings. Phrases like “I understand how frustrating this must be for you” can help validate their emotions. 2. Paraphr

In a challenging economy, where financial pressures and uncertainties are high, emotional intelligence (EQ) becomes even more valuable. Here’s how developing EQ can help you navigate tough economic times and build wealth despite the challenges: 1. Making Smarter Decisions In a tough economy, financial decisions are critical. EQ helps you stay calm and focused under pressure, leading to better decision-making. For example, during economic downturns, investors like Warren Buffett use their emotional intelligence to avoid panic selling and make thoughtful investment choices, which can lead to long-term gains when the market recovers. 2. Strengthening Relationships Economic hardships can strain relationships, but strong connections are vital for finding opportunities and support. High EQ allows you to manage these relationships effectively. Richard Branson, known for his excellent interpersonal skills, has maintained strong business partnerships even during economic challenges,

In the bustling heart of Lagos, where the city never sleeps, my store was a haven for many. But one day, the peaceful atmosphere was disrupted by a furious customer, Mrs. Adeola. Mrs. Adeola stormed into the store, her face flushed with anger. She had purchased a beautiful dress for a special occasion, but upon reaching home, she found a noticeable tear in the fabric. Her voice was loud and filled with frustration as she approached the counter. I could see the distress in her eyes, and I knew this situation needed more than just a quick fix; it needed empathy. I stepped forward with a calm demeanor and a warm smile. “ Good afternoon, ma'am. I’m really sorry for the inconvenience you’ve faced. Please, tell me what happened,” I said, inviting her to share her story. As she spoke, I listened intently, nodding to show that I understood her frustration. I didn’t interrupt; I allowed her to vent her feelings. After she finished, I could see a slight change in her expression – the first s

Starting a food business in Lagos, especially targeting early morning workers, can be incredibly profitable. With countless people rushing to work and looking for quick, delicious meals to take along, you have the perfect opportunity to meet their needs. One of the best dishes to offer is the beloved smoky party jollof rice. Here's a detailed guide to help you get started. 1. Location : Get a small space at a busy junction, not necessarily a shop. 2. Equipment : Buy serving plates, spoons, forks, trays for serving, a wooden or plastic table, and four chairs. Get coolers and other essentials. 3. Cooking : Early in the morning, prepare a delicious smoky party jollof rice and start selling. Lagosians like me love good food, and nothing beats the taste of well-made party jollof rice. Why This Works : Early morning workers in Lagos are always rushing to work and looking for quick, delicious food to take along. Offering them a tasty, convenient option like party jollof rice c

Nigeria's current economic situation is challenging. The economy faces issues like currency fluctuations, inflation, and supply chain disruptions. These problems can affect businesses and their relationships with suppliers. Here’s a simple guide to managing vendor relationships effectively in this tough economic climate. 1. Communicate Clearly - For instance, a shop in Lagos uses WhatsApp to communicate with suppliers. This helps them solve problems quickly and keep everyone informed. 2. Set Clear Agreements - For example, a building company in Abuja writes detailed agreements with their suppliers. This helps avoid misunderstandings and ensures both parties know their responsibilities. 3. Work Together - For example, a tech startup in Port Harcourt includes their software suppliers in planning meetings. This helps them work together to solve problems and create better products. 4. Pay on Time - For instance, a fashion shop in Lagos uses an automated system to pay their