Richard Obire & Associates, 295 Herbert Macaulay Way, Yaba, Lagos (2026)

25/05/2024

Your SME...Start it well, Manage it better...Achieve your dreams...9

To inspire you, here are more examples of vision and mission statements that you can adapt to create your company's vision and mission.

1. Vision: To be a leading provider of sustainable technology solutions that enhance quality of life and protect the environment.

Mission: Our mission is to deliver innovative and eco-friendly technology products and services that meet the evolving needs of our customers while promoting environmental sustainability.

SME Business Name: EcoTech Solutions

2. Vision: To be the most trusted and preferred pharmacy chain, providing accessible healthcare solutions to all Nigerians.

Mission: Our mission is to improve the health and well-being of our communities by offering high-quality pharmaceutical products, expert advice, and exceptional customer service.

2.SME Business Name: HealthPlus Pharmacy

3. Vision: To revolutionize the agricultural sector in Nigeria by promoting sustainable farming practices and ensuring food security for all.

Mission: Our mission is to produce and distribute high-quality agricultural products while empowering local farmers through training, technology, and access to markets.

SME Business Name: AgriPro Farms

4. Vision: To become a leading fashion destination in Nigeria, inspiring individuals to express their unique style and confidence.

Mission: Our mission is to offer trendy and affordable fashion pieces that cater to diverse tastes, while providing a seamless shopping experience both online and offline.

SME Business Name: StyleHub Fashion

5. Vision: To be a premier educational institution that nurtures young minds, fosters creativity, and prepares students for a successful future.

Mission: Our mission is to provide a holistic and stimulating learning environment where children can thrive academically, socially, and emotionally through personalized education and innovative teaching methods.

SME Business Name: EduCare Learning Center

6. Vision: To be a trusted technology partner for businesses, delivering cutting-edge IT solutions that drive growth and efficiency.

Mission: Our mission is to provide reliable and cost-effective IT services, tailored to the specific needs of our clients, while ensuring excellence in customer support and satisfaction.

SME Business Name: TechGenius IT Solutions

7. Vision: To promote healthy living and sustainability through delicious organic food offerings that nourish the body and respect the planet.

Mission: Our mission is to source and prepare fresh, organic meals that support local farmers, reduce food waste, and inspire a culture of mindful eating for our customers.

SME Business Name: GreenEats Organic Kitchen

8. Vision: To set the standard for professional and eco-friendly cleaning services in Nigeria, creating safe and hygienic environments for all.

Mission: Our mission is to deliver exceptional cleaning solutions using environmentally friendly products and practices, while prioritizing customer satisfaction and the well-being of our employees.

SME Business Name: CleanTech Cleaning Services

9. Vision: To empower individuals and businesses with financial knowledge and expertise, enabling them to make informed decisions and achieve financial stability.

Mission: Our mission is to provide personalized financial advisory services, innovative solutions, and educational resources that help our clients build wealth, manage risks, and secure their financial future.

SME Business Name: FinSmart Financial Consultancy

10. Vision: To be a holistic wellness destination that inspires and supports individuals in their journey towards a healthier and more balanced lifestyle.

Mission: Our mission is to offer a diverse range of fitness classes, wellness programs, and holistic therapies that promote physical, mental, and emotional well-being, fostering a community of health-conscious individuals.

SME Business Name: UrbanFit Wellness Studio
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Feel free to adapt and customize these sample vision and mission statements to suit the specific goals and values of your business.

In our next posts, we will discuss business strategy: what it is, the processes to follow to develop a business strategy for your business.

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24/05/2024

Your SME...start it well,manage it better, achieve your dreams!...8

Here are ten sample vision and mission statements of SME businesses in Nigeria:

1. Vision: "To be the leading provider of quality healthcare services in Nigeria." *Mission:* "To deliver exceptional patient care through our team of skilled healthcare professionals, state-of-the-art facilities, and innovative solutions." - *Business Name:* FirstCare Hospital

2. Vision: "To revolutionize the Nigerian fashion industry with innovative designs and exceptional quality."

Mission: "To create stylish, functional, and affordable clothing that empowers our customers to express their unique identity."

Business Name:House of Ada

3. Vision:"To be the go-to destination for eco-friendly cleaning solutions in Nigeria."

Mission: "To provide high-quality, environmentally responsible cleaning services that exceed customer expectations and contribute to a sustainable future."

Business Name: GreenClean Services

4. Vision:"To empower Nigerian entrepreneurs with access to affordable and innovative digital solutions."

Mission: "To develop and deliver cutting-edge digital products and services that simplify business operations and drive growth."

Business Name:TechHub Nigeria

5. Vision:"To be the leading provider of fresh, healthy, and sustainable food options in Nigeria."

Mission: "To source high-quality produce from local farmers, create nutritious and delicious meals, and build a community that values healthy living."

Business Name:FreshFusion

6. Vision: "To transform the Nigerian education landscape with innovative learning solutions."

Mission: "To develop and deliver engaging, interactive, and effective educational resources that enhance student learning outcomes and teacher effectiveness."

Business Name:EduTech Nigeria

7. Vision: "To be the preferred partner for businesses seeking exceptional marketing and branding solutions."

Mission: "To deliver creative, strategic, and results-driven marketing campaigns that drive brand growth and customer engagement."

Business Name:BrandWorks Nigeria

8. Vision: "To revolutionize the Nigerian energy sector with sustainable and innovative solutions."

Mission: "To develop and deploy cutting-edge renewable energy technologies that reduce carbon emissions and promote energy independence." - Business Name:GreenEnergy Nigeria

9. Vision:"To be the leading provider of quality and affordable housing solutions in Nigeria."

Mission: "To design, build, and deliver sustainable, functional, and beautiful homes that meet the needs of our customers and communities."
Business Name:HomeFront Nigeria

10. Vision: "To empower Nigerian creatives with access to innovative design and production resources."

Mission: "To provide state-of-the-art facilities, expert training, and collaborative workspaces that enable creatives to bring their ideas to life."
Business Name:CreativeHub Nigeria

Please note that these are fictional examples and not real businesses.

Also, vision and mission statements may vary depending on the specific goals and objectives of each business.

These examples give you headstart and simplify your life as you begin crafting or recrafting your company's vision or mission statement!

In our next post, we will show you more examples of great vision and mission statements.

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24/05/2024

Your SME...start it well,manage it better, achieve your dreams!...7

Vision & Mission Statements for your Business

Let's break down vision and mission in simple terms:

Vision:
A vision statement defines the desired future state of your business. It's like a destination on a map, showing where you want to go.

Mission:
A mission statement defines the primary purpose of your business. Your mission answers the question: why you exist , i.e. why you exist for the customers you serve and what you need to do well and better for them.
It is like the route you take to reach your destination(vision) including the actions you need to perform to get there.

Key differences:

- Vision is about the "what and where " (the desired future state destination).

- Mission is about the "how" (the actions needed to achieve the vision).

Simple analogies:

- Vision is like a dream vacation spot (e.g., Hawaii). You want to get there, but you need a plan to make it happen.

- Mission is like the flight itinerary, transportation, and activities that will get you to your dream vacation spot (Hawaii).

- Vision is like a picture of your desired future home.
- Mission is like the blueprint and construction plan to build that home.

Your vision inspires and motivates you and your team.

Your mission guides and directs you and your team's actions to achieve that vision!

You can see clearly that vision and mission statements for your business are not mere fancy, nice-to-haves. They are the foundational bases of your business and are critical to your sustainable success.

In our next post, we will show you examples of vision and vision statements of some SMEs in different industry verticals.

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24/05/2024

Introduction to small business in Nigeria...6

Illustrating how to select a business idea to build around as your own.

Let's say you're passionate about fashion and have experience in tailoring.

1)You conduct market research and find a demand for custom-made clothing in your local market.

2)You evaluate your resources and realize you have access to a sewing machine and basic equipment.

3)You assess your competition and find that existing tailoring services are limited and of poor quality.

4)You consider your business goals and want to create a sustainable and profitable business.

5)You evaluate the business idea of starting a tailoring and fashion design business and determine it is feasible based on your research and resources.

6) You create a business plan, seek feedback from mentors

7) You test your idea with a pilot project.

8)After validating your assumptions, you launch your business and continuously adapt to changing market conditions and customer needs.

Regardless of the business you are considering starting or expanding this ishow set about the selection process.

In our next post, we will show you how to define the vision and mission for your business.

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23/05/2024

Introduction to Small Business in Nigeria...5

How to select a business idea to design and build your business around.

You will typically build your business around a product, service or a combination of both.

In our previous posts in this series, we have suggested business ideas you may consider:

a) top physical product businesses with a focus on the domestic market
b) physical businesses focused on exports/international markets
c) top digital businesses focused on both the domestic and international markets

You can brainstorm more business ideas.

To select a business idea to focus on, you need to follow a structured process as listed below for the best results.

1. Identify Your Passions and Strengths: Make a list of your skills, interests, and values. Consider what you're good at and what you enjoy doing.

2. Conduct Market Research: Research the demand for products or services in your desired industry. Identify your target audience, their needs, and their pain points.

3. Evaluate Your Resources: Consider your financial resources, network, and access to equipment, supplies, or technology.

4. Assess Your Competition: Research existing businesses in your desired industry. Identify their strengths, weaknesses, and market share.

5. Consider Your Business Goals: Define your short-term and long-term goals. Determine what you want to achieve with your business.

6. Evaluate the Business Idea: Consider the feasibility of the business idea based on your research, resources, competition, and goals.

7. Create a Business Plan: Develop a comprehensive business plan, including market analysis, marketing strategies, financial projections, and operational plans.

8. Seek Feedback and Mentorship: Share your business plan with trusted advisors, mentors, or industry experts. Seek feedback and guidance to refine your plan.

9. Test and Validate: Test your business idea with a minimum viable product (MVP) or a pilot project. Validate your assumptions and refine your plan.

10. Launch and Adapt: Launch your business and continuously adapt to changing market conditions, customer needs, and industry trends.

By following this process, you can systematically evaluate and select a business idea that aligns with your strengths, resources, and goals, and which has a high potential for success.

In our next post we will illustrate the above process with an example to show you how.

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22/05/2024

Introduction to small business in Nigeria ...4

What Business Should I Start... Physical Products for Exports

Top 10 physical products SMEs in Nigeria can export to consumers in the developed Western markets to earn hard currencies:

1. Handmade Crafts: Unique, handmade crafts like wood carvings, textiles, and pottery.

2. Food Products: Specialty foods like organic spices, nuts, dried fruits, and chili peppers.

3. Fashion Items: Traditional clothing, accessories, and jewelry like adire, batik, etc.

4. Natural Skincare Products: Organic skincare products like shea butter, coconut oil, and turmeric.

5. Home Decor: Handmade home decor items like woven baskets, wooden masks, and colourful textiles.

6. Artwork and Paintings: Original artwork and paintings by Nigerian artists.

7. Leather Goods: Handmade leather bags, shoes, and accessories.

8. Wooden Furniture: Handcrafted wooden furniture like chairs, tables, and decorative items.

9. Textiles and Fabrics: Traditional Nigerian textiles like ankara, adire, and batik.

10. Natural Hair Care Products: Organic hair care products like coconut oil, shea butter, and argan oil.

These products leverage Nigeria's rich cultural heritage, natural resources, and craftsmanship, appealing to consumers in Western markets seeking unique, authentic, and sustainable products.

How do you choose any of the above product areas you want to build your business around?

Our next post will show you how, in simple proccesses you can implement.

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22/05/2024

Introduction to Small Business in Nigeria...3

What Business Should I Start?...Digital Products for Domestic and International Markets

Here is a Top 10 list of digital business ideas for a small business entrepreneur in Nigeria, targeting local and international markets:

1. E-commerce Platform: Create an online marketplace connecting local businesses with customers in Nigeria and abroad.

2. Digital Marketing Agency: Offer services like social media management, SEO, content creation, and online advertising to local and international clients.

3. Online Education and Training: Develop and sell online courses, tutorials, and training programs on topics like technology, entrepreneurship, and skills development.

4. Software Development and Sales: Create and sell software solutions for businesses, organizations, and individuals in Nigeria and globally.

5. Digital Payments and Processing: Develop a digital payment platform for online transactions, bill payments, and money transfers.

6. Online Freelance Marketplace: Create a platform connecting freelance professionals in Nigeria with clients worldwide.

7. E-book Publishing and Sales: Publish and sell e-books on various genres, including fiction, non-fiction, and educational materials.

8. Digital Media and Entertainment: Produce and distribute digital content like music, videos, movies, and podcasts to local and international audiences.

9. Online Travel and Tourism Services: Offer travel booking, tour packages, and destination guides for Nigeria and other African countries.

10. Cybersecurity and IT Support: Provide cybersecurity solutions, IT support, and consulting services to individuals and businesses in Nigeria and abroad.

These digital business ideas can help you tap into Nigeria's growing online market and expand your reach to international customers, leveraging our entrepreneurial spirit and digital potential.

How do you qualify and choose any of the above business ideas/areas as yours to work on?

We will show you how shortly. Keep following.

We want your feedback...comments, questions, likes or shares.

22/05/2024

Introduction to Small Business in Nigeria...2

What Business Should I start...Physical/Traditional Products and Services for Domestic Consumers

Here is a non exhaustive list of physical/traditional business ideas for a small business entrepreneur in Nigeria:

1. Provision Store: Open a retail store selling everyday essentials like food, household items, and personal care products.

2. Fashion Design and Tailoring: Offer custom-made clothing, alterations, and fashion design services.

3. Restaurant or Food Cart: Start a small food business serving local cuisine or specialty dishes.

4. Barber Shop or Salon: Provide hair cutting, styling, and grooming services for men and women.

5. Phone and Computer Repair: Offer repair and maintenance services for phones, computers, and other electronic devices.

6. Event Planning and Decoration: Provide event organization, decoration, and management services for weddings, parties, and corporate events.

7. Furniture Making and Sales: Create and sell handmade furniture, home decor, and interior design services.

8. Laundry and Dry Cleaning: Offer laundry, dry cleaning, and pressing services for individuals and businesses.

9. Grocery Store or Supermarket: Open a retail store selling fresh produce, meat, dairy products, and other household essentials.

10. Printing and Stationery: Provide printing, photocopying, and stationery services for individuals, businesses, and organizations.

These traditional business ideas can thrive in Nigeria's large market, and with the right ex*****on, can generate significant revenue and employment opportunities.

How do you qualify and choose any of the above business ideas/areas as yours to work on?

We will show you how shortly. Keep following.

We want your feedback...comments, questions, likes or shares.

21/05/2024

Introduction to Small Business in Nigeria: Foundational Thinking...1

Small businesses are the backbone of Nigeria's economy, accounting for over 90% of businesses in the country (Source: SMEDAN).

However, they face numerous challenges, including limited access to funding, inadequate infrastructure, and intense competition.

Despite these challenges, small businesses have the potential to drive economic growth, create jobs and produce significant financial and psychic success for knowledgeable and persistent small business entrepreneurs.

The first question which faces the small business entrepreneur is:

What business should I start or expand?

The answer to this question can come from answering another one.

What are the top 10 pain points for the Nigerian consumer?

Based on various studies, our research, and data analysis, here are the top ten pain points of Nigerian consumers:

1. *Affordability*: High prices of goods and services, making them unaffordable for many.

2. *Quality of Products and Services*: Poor quality or fake products, and substandard services.

3. *Availability and Accessibility*: Limited access to goods and services, especially in rural areas.

4. *Customer Service*: Poor customer service, long wait times, and unhelpful staff.

5. *Payment and Transaction Issues*: Difficulty with payment methods, transaction errors, and lack of trust in digital payments.

6. *Security and Safety*: Fear of fraud, theft, and physical harm when making transactions or using services.

7. *Lack of Variety and Options*: Limited choices and options for products and services.

8. *Long Wait Times and Delays*: Slow delivery, long queues, and delays in service provision.

9. *Poor User Experience*: Difficult-to-use products, confusing instructions, and poor user interface.

10. *Lack of Trust and Transparency*: Distrust of businesses, fear of scams, and lack of transparency in transactions and services.

These pain points highlight the challenges Nigerian consumers face.

You may then choose a business which matches your passion, resources, capacities and which you can design to solve one or more of the pain points.

In the next post, we will take you through the process of selecting a specific business for yourself.

Stay with us.

We want to read your comments and questions.

20/05/2024

Nigeria’s medicinal plant: Bryophyllum pinnatum (abamoda).

By Olufunke Faluyi

Bryophyllum pinnatum is a fleshy herb growing up 120cm in the family crassulaceae.The leaves are simple or trifoliolate with petioles. They are green with purple serrated margins which are capable of producing new plants vegetatively when it falls to the ground.

The flowers are dropping in lax panicles with an inflated tubular calyx. It is native to Madagascar. It is a valuable medicinal as well as ornamental plant. It is called Abamoda in Yoruba. It is popularly called miracle leaf, life plant and never die.

Before I proceed, I will like to share a research I stumbled on. I will try to simplify it. This study by Robert Kelechi Obi et al was designed to investigate the antiviral potential of Bryophyllum pinnatum and Viscum album. Fresh leaves of these plants were collected and dried. Extraction was done with methanol. Measles (MV), polio PV and yellow fever (YFV) viruses were isolated from their respective vaccines, while herpes simplex virus-1 (HSV-1) was isolated from a positive HSV-1 male case.

Results of the antiviral analysis showed that two of the viruses were susceptible to B. pinnatum (L.) and V. album (L.). While HSV-1 was sensitive to B. pinnatum (L.), MV was susceptible to V. album. The PV and YFV were resistant to both plants extracts at the same concentrations.

The conclusion of the study reads “this study has shown that the solution to the worldwide menace of MV and HSV-1 viral diseases could be found in the forest zones of Nigeria.”

Despite tremendous progress in human medicine, no drugs exist for the complete treatment of viral diseases but here we are seeing that our own Abamoda is a solution to measles and herpes viruses! This should be a pointer to the fact that the cure for COVID 19 pandemic might be in the wild!

While preparing for this, I visited an elderly woman in the neighbourhood. I saw the plant in her house, plucked a leaf, washed and chewed. The Head of Pharmacognosy Department at the Obafemi Awolowo University, Ile-Ife, Osun State, Mr Ife Ogunlowo, shared some experiences about the plant with me. A child cried all through the night, the child could not be taken to the hospital because of the distance. A steamed leaf of the plant was placed on the forehead of the child and in a few minutes, the child slept off. He also told me he used the plant to resolve the headache problem of one of his students.

I spoke with another person. Her name is Evangelist Calista Oke. She also confirmed to me that the plant is used on baby’s navels.

The plant is popular in folklore medicine. It has been used for the treatment of a variety of conditions such as rheumatism, cough, asthma, tonsillitis, diarrhoea, body pain, arthritis, heartburn, skin ulcers, peptic ulcer, diabetes mellitus and microbial infections. It is applied to wounds, boils and insect bites.

In Nigeria, the plant is particularly known for its effective wound healing properties and detachment of the umbilicus of infants. Cough medicine is made from the roots in Sierra Leone.

Heated leaves are used for swellings and abscesses in Jamaica. It is used for rheumatoid arthritis, bruises, burns and ulcers in China. In the KwaZulu-Natal Province, South Africa, the leaves are used in combination with Opuntia stricta and Euphorbia hypericifolia to treat gonorrhea.

Pharmacological studies on it reported several biological activities, some of which could authenticate the plant’s traditional uses including immunomodulatory, CNS depressant, analgesic, anti-inflammatory, anti-microbial, anti-tumour, anti-ulcer, insecticidal, anti-diabetic, anti-convulsant, antioxidant and anti-hypertensive properties. Studies have also reported a wide range of active phytochemicals such as alkaloids, triterpenes, glycosides flavonoids,steroids, bufadienolides, lipids and organic acids. These compounds have been considered to be responsible for the plant’s diverse pharmacological activities.

In many cases, B. pinnatum leaves were soaked in cold water overnight, boiled in water, squeezed or roasted and the extracts obtained to treat ailments. It is also consumed as tea and blended into juices or eaten raw.

The plant is a blood purifier and it is a famous medicine to cure kidney stones. The root is used to treat high blood pressure and also to prevent any kind of cardiac problem. The leaf is used for the treatment of fever. The extract of the plant is used for the treatment of roundworms.

Using the juice of this plant as ear drop heals ear pain. The root is believed to protect the liver and has proven to be useful for the treatment of hepatitis. It is a diuretic. Because of its antioxidant property, the plant is used in the mixture of herbal green tea. It is used as a home remedy for piles (Haemorrhoids).

The leaf juice is used for the treatment of stomach ache. Extract of the plant is used for the nourishment of the hair and for treating gray hair. The leaves are used for intestinal disorders. The paste is used for leucorrhoea. Fresh juice of this plant can be used to treat jaundice.

Because it is used traditionally in ethnomedicinal practices for the treatment of kidney stone and urinary insufficiency, this claim was put to test in a study titled, “Bryophyllum pinnatum Leaf Extracts Prevent Formation of Renal Calculi in Lithiatic Rats by Mahendra Yadav et al.” The conclusion is that Bryophyllum pinnatum leaves showed preventive effect against renal calculi formation and validates its ethnomedicinal use in urinary disorders. It further supports its therapeutic potential for the treatment of urinary calculi (Renal or urinary calculi also called urolithiasis is a condition which involves the process of formation and retention of stone(s) in kidney, bladder and/or urethra that results in renal colic, urine retention and pain in the abdomen and flank).

In another study titled. “Antimicrobial and antioxidant activity of kaempferol rhamnoside derivatives from Bryophyllum pinnatum” by Simplice Joel Ndendoung Tatsimo et al, the conclusion is that findings in the study demonstrate that Bryophyllum pinnatum and some of its isolated compounds have interesting antimicrobial and antioxidant properties and therefore confirming the traditional use of B. pinnatum in the treatment of infectious and free radical damages.

Like I always say, the use of plants must not be abused. This plant must be used in moderation. It becomes clearer every day that nature harbours a wealth of invaluable resources for humanity. We have merely scratched the tip of the iceberg.

Richard Obire & Associates

25/05/2024

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