| How do you pitch your idea to investors without giving away too much?
It is not a secret that entrepreneurs jealously guard their business ideas. But today’s innovators are under pressure to open up about their secrets. When you first start talking to investors, you tend to be protective of your new business ideas, but knowing that you need their money you have to sell the idea.You need to do a lot of due diligence on a potential investor before showing up and laying out something that you consider to be confidential. Understand that any investor that’s been around for any extended period of time, generally speaking, has done so because of their integrity in dealing with entrepreneurs.” How Business Ideas Get Stolen Sharing ideas is one of the ways a business owner presents future growth potential to investors and lenders when they are trying to secure financing. It is also not uncommon for business owners to discuss their ideas with employees and other business professionals for a myriad of reasons. In some cases, whether intentional or accidental, the information finds its way to wrong people or those that want make use of the idea. Now, let’s look at how to protect your cherished business idea. Disclose Your Idea In Phases Disclose information in increasing amounts as the deal progresses. Be sure that the balance of power in the deal remains relatively even in terms of oral commitments, commitments through information disclosure, money or contracts. The information disclosure should start with general concepts and progress to detail at the contract stage. Be sure to keep careful notes on what, when and where information was disclosed and who else was present at the meetings. These records can be extremely helpful if you ever end up in court. Always disclose the minimum necessary to close the deal, without being fraudulent or misleading. This allows you maintain the most control over your product or idea, as well as protecting your options for changing the timeline or details later if needed. Once the deal is closed and the contract is signed, both parties should be more committed to the process and protecting information. Confidentiality Agreements Confidentiality agreements can help protect the parties both receiving and disclosing information. A solid confidentiality agreement needs to indicate what information being disclosed is to remain confidential and for how long. While some companies place indefinite time restrictions, it is universally better if you give the third party signers a time frame that they have to honor with their silence in an effort to lessen their burden. Other confidentiality agreement options can include:
Always remember – no business relationship is considered confidential unless a confidentiality agreement is signed by the parties. This is the only way to legally secure your business ideas from theft. I want to encourage you with a statement by Frank Nneji of ABC Transport to MBA Students at PAN African University. He said “The Most Important Part of an Idea is The Execution Power” and this power lies with you (the initiator). With this in mind, go ahead and share your business idea with investors armed with the information you have received from this article. You Will Succeed! – Chinedum Azuh Connect With The Author On FACEBOOK: www.facebook.com/motivationtoprosper EMAIL: learninglab4@gmail.com WEBSITE: www.motivationtoprosper.org |
The sculptures of Michelangelo need no introduction to most people. We are all familiar with his masterpieces, David, Day and Night, Twilight and Dawn, Medici, Madonna and Child.
Michelangelo stands as one of the towering figures in the history of art. His majestic Frescoes on the ceiling of the Sistine Chapel and his masterful sculptures bear witness to his greatness. But he was a man never content to rest on his laurels. He spent countless hours on his back on the scaffolding in the Sistine, carefully perfecting the details of each figure. When a friend questioned such meticulous attention to detail on the grounds that “at that height who will know whether it is perfect or not?” Michelangelo’s simple response was, “I will.”
One of his most massive sculptures is a statue of Moses, completed more than four hundred years ago, often called his best work. If one looks closely at the statue of Moses, however, you find a long, narrow dent on Moses’ knee. It is the mark of an artist who was never satisfied with his own work!
After completing work on Moses, the master sculptor stood back and surveyed his craftsmanship. Suddenly, in anger, he struck the knee of his creation with his chisel and shouted, “Why don’t you speak?” the chisel scar that remains on the statue’s knee is the mark of a man who always reached out for more. His ambition was to be the best he could be.
I don’t think it’s a crime to aspire to be the best in your industry. I mean if names are being mentioned in your chosen profession, why shouldn’t yours be among? Most people get satisfied with little achievement. Don’t get me wrong, am not preaching greed. According to Charles Lamb “My motto is: contented with little, yet wishing for more.”
Many years ago, a promising Greek artist named Timanthes was under the instruction of a well-known tutor. After several years, the young painter created an exquisite portrait. He was so thrilled with what he had painted that he sat day after day gazing at his work. One morning, however, he was horrified to discover that his teacher had deliberately ruined his painting. Angry and in tears, Timanthes ran to him and asked why he had destroyed his cherished possession. The wise man replied, “I did it for your own good. That painting was retarding your progress. It was an excellent piece of art, but it was not perfect. Start again and see if you can do even better. The student took his advice and produced a masterpiece called “Sacrifice of Iphigenia,” regarded by some as one of the finest paintings of antiquity.
It was William George Jordan that advised “There are times when a man should be content with what he has but never with what he is.” Many today are like Timanthes, always relishing in past achievements and refusing to move ahead. Those who are satisfied with their accomplishments tend to remain as little as the things they do. The true giants in any field are those who are never satisfied that they have done enough or have done their best. That’s the driving force behind their greatness.
To our success!
– Uju Onyechere
Today I received a call from my bankers on some “mouthwatering” insurance policy they called “Protection Plus”. On face value it sounded like a jackpot when the Rep was telling me about certain incentives I and my family could benefit, but the presentation hit a snag especially when I was told that the insurance would not cover eventualities in some certain “high risk” countries in the world. When I asked the Rep to mention the high risk countries involved, he included my beloved Nigeria. Obviously, the marketing was over. I told him I wasn’t interested in his offer, after all I could not benefit if I decided to relocate to Nigeria.
Just as we discussed the insurance offer and its limitations, it dawned on me that I have a superior and unmatchable insurance package from the master, the maker of heaven and earth. He is the provider of the true “Protection Plus”. His scheme is not bought, but received, because He paid the ultimate premium for it – His blood was shed!
The person who puts his faith in the finished work on the cross is covered by God’s insurance scheme with guaranteed protection in every part of the world he finds himself. Above all, the incentives transcend cash; it is all about the unwavering presence of God to direct our affairs to his glory. It’s a protection from both the physical and spiritual influences in the world.
“If God didn’t hesitate to put everything on the line for us, embracing our condition and exposing himself to the worst by sending His own Son, is there anything else he wouldn’t gladly and freely do for us?” (Rom. 3:32)
“The Father has delivered and drawn us to Himself out of the control and the dominion of darkness and has transferred us into the kingdom of the Son of His love,” (Col.1:13 Amplified)
“Don’t be obsessed with getting more material things. Be relaxed with what you have. Since God assured us, “I’ll never let you down, never walk off and leave you,” we can boldly quote,
God is there, ready to help; I’m fearless no matter what. Who or what can get to me?” (Heb. 13:5-6 The Message).
– Emeka Ofia
Shortly after Booker T. Washington became head of the Tuskegee Institute in Alabama, he was walking past the house of a wealthy family. The woman of the house, assuming Washington was one of the yard workers her husband had hired, asked him if he would chop some wood for her. Professor Washington smiled, nodded, took off his coat and chopped the wood. When he carried the armload of wood into the woman’s kitchen, a servant girl recognized him and rushed to her mistress to tell her of his identity.
The next morning, the woman appeared in Washington’s office. Apologizing profusely, she said repeatedly, “I did not know it was you I put to work”. Washington replied with generosity, “It’s entirely all right, madam. I like to work and I’m delighted to do favour for my friends.”
The woman was so taken with his manner and his willingness to forgive that she gave generous gifts to the institute, and persuaded many of her wealthy acquaintances to do likewise. In the end, Washington raised as much money for the institute from this one act of chopping wood as he did from other fund – raising event! Here was a man who is confident of himself and is not threatened by the opinion of others.
Some of us think big, but are not willing to start small. We just want the big break. The story is told of a man who was walking the streets of Philadelphia searching for employment and finally happened to call on the office of a well-known businessman by the name of Girard. When he asked for a job, Mr. Girard personally responded, “Yes, I can give you work. See that pile of bricks out there? Carry them to the other end of the yard and stack them up.”
By nightfall the man reported that the project was completed and he received his pay. He then asked if there would be more work the next day. Girard said, “Yes, come in tomorrow and carry those same bricks back to where you found them.” The following morning the man arrived early and got busy, never saying a word. For more than a week, Girard instructed the worker to carry bricks back and forth until it was evident to Girard that he could trust this new employee. He was then given a new and bigger responsibility. As far as Girard was concerned, if the man could be faithful in a mindless, inconsequential task… he could be faithful in a transaction, which truly mattered.
If you know where you are going, you can always start from somewhere to get there. According to The Talmud, “Why was man created on the sixth day? To teach that if he is ever swollen with pride, it can be said: a flea came ahead of thee in creation.”
Humility will open great doors for you if you make it a habit.
To our success!
– Uju Onyechere
In the beginning of this year, I felt uncomfortable with the level of success I had in business, so I decided to take some practical steps towards moving it to an enviable level. Below are the keys that have worked for me to achieve this goal of building a great enterprise.
Form Partnerships
Participating in alliances has increased my revenues as much as 500 percent this year. I hope more businesses learn strategically to collaborate more because it cuts down on overhead expenses and increases productive resources. This is the way to great success in business.
Stay Current with Technology
A Chinese Business Mogul once said “When You Simply Apply Technology to the Resources Around You, Money will Flow”. Technology plays a role in every business, so all small business owners can benefit from not only having an understanding of the technology that impacts them directly, but also keeping track of how it changes.
It can help you make better decisions; and it can help save money, time and other resources.
Make Your Customer the King
There is an old adage that the customer is the king. Along with providing your clients with an exceptional product or service, you can encourage repeat business by being customer service-focused. This means asking for and acting on feedback, addressing issues and complaints quickly and thoroughly, and being consistently accessible and accountable.
Commit to Continuous Learning
It is no longer a secret that readers are leaders. You should understand that no matter how much you achieve, there will always be more to be learned and applied for even greater success.
Know When to Delegate
Whether you have paid workers, subcontractors or family pitching in, learning to delegate effectively can be the difference between reaching new heights and burning out.
Many small business owners are accustomed to doing a variety of things themselves, so it can be challenging to identify the tasks you don’t need to do yourself and assign the work to someone else. Once you overcome the challenge, though, you will have more time to dedicate to what you do best — grow your business.
Increase Your Productivity
Some of what you do as a small business owner will be routine; there are a variety of daily tasks that will need to be accomplished to keep your business running smoothly.
The more effective you are when it comes to completing the day-to-day business management tasks, the more potential your small business has for greater success. You can boost your productivity by developing systems to streamline these processes.
Step Up Your Marketing
The most successful small businesses are willing to explore new outlets of online marketing — in combination with their offline marketing activities — to see what produces the most interest.
Consistently changing, testing and mixing my marketing activities have helped me to see what works, what doesn’t and what type of result it produces.
While you do not need to do all of these activities at once, most successful small business owners find a way to work them in over time. To gain momentum, start with one or two that are already aligned with the way you run your business, and then start to make changes to incorporate the others gradually.
Use Goal-Setting to Push Boundaries
Goals can be a great way to clarify your focus, measure progress and track achievements. And for the most successful among us, goals also present an opportunity to push the lines of your comfort zone and take calculated risks.
Work with these ideas and you will enjoy limitless success in business.
You Will Succeed!
– Chinedum Azuh
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The Sixteenth-century philosopher Sir Francis Bacon is credited with coining the phrase “knowledge is power”. I enthusiastically support his viewpoint, as I believe that the pursuit of knowledge is an important ingredient in the pursuit of success in every endeavor in life.
Knowledge in business provides you with guidance for judgments, formulate decisions and to run your business effectively. Business knowledge provides context. It helps us to understand when to act, what should be done, when it should happen, where work should be conducted, why it is important, and how to do it so that we can optimize our effectiveness. From this perspective, knowledge is not simply a higher level of information. It is the guide, which helps us use or process data and information to deliver optimum results. Let’s look at several ways to access this knowledge.
Market Research
Researching on your business idea to acquire the required knowledge before you start a business is critical. All the drive and determination in the world isn’t going to help you if you don’t have the knowledge to actually run a successful business and don’t bother to research and plan for your success appropriately. A friend of mine had long dreamed of opening a Garri Processing Factory. So he did. Unfortunately, he hadn’t bothered to study the competition or the demographics of the market in the area. It took less than a year for his Garri Processing Factory to fail. He had the desire and the drive, but didn’t have the knowledge he needed to apply them.
Purpose Driven Reading
One of the major keys to my success in business is reading. I am sure you have heard the word, “Readers are Leaders”. When I say reading, I am not talking about just reading every book that comes your way. The kind of reading that produces result has to do with materials in line with your business venture. My expertise and exploits in E-Publishing today is as a result of the materials I studied.
Learn From The Big Companies
Identify a company who is doing what you want to be doing but on a big scale and copy their best ideas. This is a strategy that every successful company or individual applies. You can subscribe to the company’s services, if they are service providers or become a distributor to learn how they run their business. You many also become a vendor in the company so as to be close to them and learn whatever you can.
Find a Mentor
Get a mentor who can provide you with long term support. But choose someone who’s been there, with actual relevant experience, as opposed to someone simply being paid to offer advice they once read in a book. You need a relevant practitioner, not a generic advisor.
Most importantly, your lack of knowledge should never stop you from starting. There is never a day when I don’t come across something I don’t know, that could help improve my business. I guess now I just admit it a lot quicker and work smarter, harder and faster at filling in the gaps in my knowledge.
You Will Succeed!
– Chinedum Azuh
| Benjamin Franklin learned that plaster scattered in the fields would make things grow. He told his neighbours, but they did not believe him. They argued with him, trying to prove that plaster could be no use at all to grass or grain. After a little while he allowed the matter to drop and said no more about it.
Early the next spring Franklin went into the field and sowed some grain. Close by the path, where men would walk, he traced some letters with his finger, put plaster into them, and then sowed seed in the plaster. After a week or two the seed sprang up. As they passed that way, the neighbours were very surprised to see, in brighter green than all the rest of the field, large letters saying, “This has been plastered.” Benjamin Franklin did not need to argue with his neighbours anymore about the benefits of plaster for the fields. Another of his experiments Benjamin Franklin was told by “experts” to stop all that foolish experimenting with lightning Louis L’Amour, successful author of over 100 western novels with over 200 million copies in print, received 350 rejections before he made his first sale. He later became the first American novelist to receive a special congressional gold medal in recognition of his distinguished career as an author and contributor to the nation through his historically based works. Young Dr. Ignatius Piazza fresh out of chiropractic school, wanted to open a practice on the beautiful community of California. The local chiropractic community told him that there were not enough potential patients to support another practice. For the next four months, Piazza spent ten hours a day going door-to-door and introducing himself as a new chiropractic doctor in town. He knocked on 12, 500 doors, spoke to 6,500 people and invited them to come to his future open house. As a result of his perseverance and commitment, during his first month of practice he saw 233 new patients and earned a record income for that time of $72,000 in one month! Dr. Seuss’s first children’s book, I may have used a couple of examples on those who got their writings initial rejected by publishers, but don’t get me wrong. It’s not all about books here, these rejections and their subsequent success could happen in any other field. Dear reader, your commitment to your goal will make it possible for any obstacle to be subdued. Ed McELroy once said, “Commitment gives us new power. No matter what comes to us , we never turn our eye from the goal.” To our success! |
I was told the story of a man who had some friends come visit him from afar. As they got down to discussing some urgent matter, the telephone in the kitchen started to ring. Without batting so much as to an eyelid or even halting the discussion, the host continued the discourse as though he heard nothing.
A little while later into their discussion, the phone rang again but the host continued as before – unperturbed. The guests however took a glance at each other as if to say – Does he know the phone is ringing?
Going a little further in their discussion, the phone rang again. This time the guests had had enough. ‘Your phone is ringing sir’ they chorused. The host responded coolly and calmly ‘I know the phone is ringing. I heard it all the while but the phone is made for me and for my convenience. I was not made for the phone. I would pick it at a more opportune time’.
This story has since registered in my mind as it is a reminder to the fact that we ought to be careful how we use these world’s goods.
What we have no control over inadvertently controls us.
We are assured by the word that Christ Jesus our saviour has given unto us the privilege to share in the dominion and the victory he has wrought for us through the cross – over all that is in the earth, under the earth and in heaven.
But this is made a mockery when those who have been given such a high privilege are brought to be mere servants of the world’s devices. Listen to the following scriptures:
Those in frequent contact with the things of the world should make good use of them without becoming attached to them, for this world and all it contains will pass away. In everything you do, I want you to be free from the concerns of this life – 1st Corinthians 7: 31 – 32b NLT
Someone may say, “I’m allowed to do anything,” but not everything is helpful. I’m allowed to do anything, but I won’t allow anything to gain control over my life – 1st Corinthians 6: 12 GW
It appears as though if I am not careful I would find myself at the mercy of those things that I allow to creep into my life. If this year would amount to anything meaningful, then we must be resolute in separating ourselves from those things that impinge on our healthy growth and relationship with God.
Take for instance the mobile phone. The consciousness of the mobile phone has seemingly replaced the greater consciousness of our ever constant communion with the father. How many times has our quiet time, prayer, a revelation or even a ministration been slaughtered on the altar of calls, texts, pings, gist, flash, etc
If there ought to be a time we should tread cautiously and carefully, it is now. We were not made for these gadgets, they were made for us. Can we get off the TV, radio, phones, face book, 2go, and tweeter for an hour and still be the same?
Are we living in view of the glorious reality we have been called into as believers or are we gradually being drawn into attitudes and traits that are unbecoming of the glorious name we profess?
It becomes disheartening when we fail to realise that as Christians the devils tactic is to keep getting us distracted so we would not come to terms with who and all that God has made us.
From midnight calls, through texts to pings, to tweets, and possibly some newer ones, the tactic has always remained the same – Distraction.
Are we saying never buy a phone, radio, and TV or satellite television? No!! But on a lighter mood, if it were possible you would think when rapture comes we would first hurriedly rush off to pick up our phones or other gadgets.
Let us exercise restraint and caution that our focus would not be taken from us. Remember only one thing is needful, don’t let that be taken from you.
If you already see yourself being consumed by this passion, pray about it and trust God to strengthen you as you take steps towards recovery.
Remember ‘be self-controlled and alert. Your enemy the devil prowls around like a roaring lion looking for someone to devour. Resist him, standing firm in the faith’. 1st Peter 5:8 – 9b NIV
Cheers
Do have a lovely week.
-Emeka Ofia
Marriage from the Scriptures III
TEXT: I Peter 3: 7
Likewise, ye husbands, dwell with them according to knowledge, giving honour unto the wife, as unto the weaker vessel, and as being heirs together of the grace of life; that your prayers be not hindered.
I Peter 3:7 KJV
“Likewise in the same way, HUSBANDS dwell with your wives with knowledge…..” what knowledge?
Knowledge means familiarity with someone or something, this includes facts, information, descriptions, or skills acquired through experience or education. The scripture is saying study your wife, get to know her and deal with her based on this knowledge. So, the next time she behaves in a particular way you do not like, remember that it is in her to behave in that manner, so you do not see it as an offence targeted at you.
“Through wisdom is an house builded; and by understanding it is established:
And by knowledge shall the chambers be filled with all precious and pleasant riches.
A wise man is strong; yea, a man of knowledge increaseth strength.” Proverbs 24:3-5
Spend time trying to know your wife. This line reminds me of a film I strongly recommend,Fireproof. And not just know your wife; know what God is saying concerning her too. The next verses that follow explore further…
Giving honour unto the wife, as unto the weaker vessel ….
Appreciate that she is a weaker vessel. She is not like you, she is strong in her own department but not in yours. She needs to be pampered. She cannot carry the family burden like you can. Women have tried to prove a point of being just as strong but truly they are not. God has created each person uniquely to fulfil a certain purpose. Have you ever seen a man trying to simultaneously carry four bags and a woman doing the same? Or have you seen a woman trying to drive a nail through wood and a man doing the same? God has created each one uniquely for His pleasure. The fact that both male and female are created for His pleasure drives home the next point.
As being heirs together of the grace of life
You are both heirs called of God; she is under your authority but she belongs to God first. Ask God what He would want for her and be sure to support and ensure His will is done in her life just as in yours. Give her your full support. Sometime ago while meditating, I heard in my spirit, that God calls his daughters home (that is, to eternity) sometimes because of this reason. Culture has taught men to keep their wives in subjection and Christian men have brought this idea into marriage thereby hindering the expression of the fullness of God in the lives of their wives. God is a God of order. He is not saying a woman should be disobedient to the man, rather, He is asking men to live, in awareness that they represent Him in the lives of their wives and must remember that in Christ there is no male or female. Don’t get carried away plotting your success plan, forgetting your wife is also a light that must shine. Provide full support for her also to fulfil God’s purpose in her life through your marriage.
That your prayers be not hindered.
Every man who does the Word as required gets express answer to his prayers. The answers to your prayers are tied to knowing your wife, treating her honourably and acknowledging the fact that she is God’s vessel in your care! When you do these things, you open up the heavens for yourself and your home. I have seen this Word work in the life of a few couples I know and the results are astounding!
Please keep studying the Word and share lessons learnt as comments. I look forward to hearing from you!
Online Resources
http://www.keepbelieving.com/sermon/2005-02-13-Unhindered-Prayers/
http://bible.org/seriespage/obligations-christian-husbands-their-wives-1-peter-37
http://www.onechristianministry.com/christian-articles-563.html
God Bless and keep you!
Much Love!
-Omolola
Akin and Roy were classmates in the University of Jos. They graduated in 2009, same day, same grade. They move to different parts of Nigeria seeking jobs and haven’t set eyes on each other ever since. Akin started out with a blue chip company in Lagos while Roy had to settle for an internship position with a small company in Abuja. They both served God fervently in school and increase, remarkably, in their knowledge of God even after school. Recently, Roy relocated to Lagos to search for a new job and as he treks the streets of Victoria Island one sunny afternoon, he sees Akin driving by in a 2006 Toyota Highlander.
Akin! Akin!! Akin!!! Roy calls out, as he raises his hands to get Akin’s attention. Akin suddenly recognizes Roy, pulls over and rushes to Roy give him a warm hug. They chat for minutes, Akin hands Roy his complimentary card, and drives him to the nearest bus stop where he can get the bus. On the bus ride home, Roy feels very discontent with his life; thinking – my classmate is doing very well and already has a lovely car but here I am, sitting next to a smelly meat seller and going to a house where I squat with a relative. When he gets home that night, he prays fervently that God should turn his situation around. The next day he narrates this experience to his Pastor, who holds hands with him in a ‘prayer of agreement’ for a turnaround within 6 months.
Have you ever had such a feeling of discontent? I see believers from the pulpit to the pews exhibit such tendencies from time to time. It is called envy – a feeling of discontent with regard to another’s advantage, success or possessions. These days, we even attempt to spiritualize it by getting provoked to “pray harder” and ask God questions in prayer because someone we think should be our equal appears to have more possessions, higher position or better progression. But Galatians 5:26 says “Let us not be desirous of vain glory, provoking one another, envying one another.” For Job 5:2 says, “For wrath killeth the foolish man, and envy slayeth the silly one.” Beloved, envy kills!
The bible says in Proverbs 14:30 (KJV) “A sound heart is the life of the flesh: but envy the rottenness of the bones”. The God’s Word translation says envy is like bone cancer. Are you sure this cancer is not currently eating your bones? There is nothing wrong with having a feeling of discontent with your current situation. However, as a believer, such a feeling should only be provoked when God enlightens you via the Word and other means that your lifestyle doesn’t match up to His standard, or that you are not operating at the level He has designed for you. But when you only think you need a step-up in any area of your life because you see someone else step up, then it could be an indication that you are not walking with God, and probably are not convinced of his plan and program for your life. Such tendencies will lead to living a confused life; James 3:16 says, “For where envying and strife is, there is confusion and every evil work.”
The snail and the cheetah may not have entered Noah’s ark at the same time, but they both made it there and survived the flood. Let’s stop this envy bone cancer from spreading in our midst; stop getting unnecessarily worked up due to the progress of others in ministry, career, or life in general. Cruise calmly in the lane God has placed you, at God’s prescribed pace, to the place that He has prepared for you.
– Tope S. Aladenusi