Innovation makes business viable

Having an undiluted mindset about creativity in your niche is superb if you put it into use. Your imaginative faculty will blend with changes around your ecosystems if you love what you are doing for living.

Being innovative does not only mean inventing. Innovation can mean changing your business model and adapting to changes in your environment to deliver better products or services.

Innovation

Innovation generally refers to changing processes or creating more effective processes, products and ideas.

It can be a catalyst for the growth and success of your business, and help you to adapt and grow in the marketplace.

Also, innovation can increase the likelihood of your business succeeding. Businesses that innovate create more efficient work processes and have better productivity and performance.

For businesses, this could mean implementing new ideas, creating dynamic products or improving your existing services.

What is  innovation to business ?

Business innovation is the creation of new ideas, dynamic products or services to add value to a business and increase sales.

Like wise, business innovation refers to the application of better solutions to meet new requirements or existing needs for smooth functioning of a business.

Successful innovation should be an in-built part of your business strategy, where you create a culture of innovation and lead the way in innovative thinking and creative problem solving.

For every company there are some of the barriers faced by them on there innovative capabilities. They are mentioned infra:

  • A lack of differentiation from competitors in geographic areas were trying to attract the best start-ups.
  • Slow corporate venturing processes
    in tightly regulated industries.
  • Existing conflicts of interest among the parent company’s CEO, the CVC unit director and the entrepreneur.
  • A low level of collaboration between corporate venturing units and business units.
  • Tight budget constraints for innovation.
  • Problems in balancing the creation of innovation and adoption of the value generated.

Although, executives in charge of innovation still demand principles and best practices to improve their corporate venturing strategies and their implementation because of the novelty of the opportunities and lack of relevant experience.

These professionals still face numerous difficulties when it comes to;

1. Changing the traditional mind-set of their executive committees.

2. Fixing a lack of collaboration between corporate venturing units and business lines.

3. Re-engineering corporate processes that are blocking the integration of value generated by corporate venturing units.

Key steps towards business innovation

Find areas and ways to innovate in your business through research and planning:

1. Conduct an analysis of the trends in the market environment, your customers’ wants and needs and your competitors.

2. Consult with customers and employees for ideas on improving processes, products and services both internally and externally. Find out more about connecting with customers for ideas.

3. Seek advice.

Use available resources such as business advisors, grants and assistance to drive innovation in your business. This may include seeking Intellectual Property (IP) protection to commercialise your ideas. Learn more about local collaboration and international collaboration with researchers.

4. Be open to new ideas and adaptive to change.

5. Develop a strategic, responsive plan, which promotes innovation as a key business process across the entire business. Learn about creating an innovative business culture and developing a strategy for innovation.

6. Train and empower your employees to think innovatively from the top down.

Remember that, innovation is the key to competitive advantage for your business.

Learn more:

ELEMENTS OF INNOVATION

20 EXCELLENT BUSINESS INNOVATION VIDEO EXAMPLES

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Sources of Business Ideas

There are millions of entrepreneurs throughout the world and their testimony suggest that there are many potential various sources of new business ideas or sources of entrepreneurship ideas and sources of business opportunities. Some of the useful ones are outlined infra:

1. Hobbies/Interest: An hobby is a favourite leisure time activities. Many people in pursuits of their hobbies and interest many business partners have founded businesses. For example, you love cooking, you might end-up being a Cafeteria owner just because you have interest in cooking.

2. Personal skills and Experience: All over the world, it has been discovered that over 60% of successful business ideas comes from experiences and skills acquired in the work place and skills acquired in the work place. For example, a mechanic working for a large garage can start selling a second hand car. Your skills and experience are probably your most important resource not only in generating ideas but also in capitalizing on them.

3. Franchise: A franchise is an arrangement whereby the manufacturer or sole distributor of a trademark or product give exclusive right for local retailers in return for their payment royalty in conformity to standard operative procedures.
Franchise may take several forms including a type that offers a name, method, operating procedure and image. Apart from buying a franchise, a person can develop and sell franchise. There are many directives and handbooks as well as associating; including International Franchise Association (I.F.A) which can provide further information.

4. Mass media: It is a great source of information, ideas and opportunities e.g newspaper, radio, television, books, internet and magazines e.t.c For example, you can consider a commercial advert as a way of finding new businesses as you respond to the offer of such adverts.

5. Exhibitions: As a potential entrepreneur you can get business ideas by attending exhibitions and trade fairs by doing so regularly you will discover new products /services, opportunities to meet sales representatives, manufactures, wholesalers, distributors and franchisers as some of them may be looking for you.

Other sources of business ideas are through business survey, customers complaints/ frustrations and Brainstorming.

Hope we are fixing a friction. Read more business and economy oriented contents on THINK MEDIA NIGERIA.
Cheers 🙂

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Copyrights in Business

It is very important to understand the trajectory of copyright as one of the aspect of intellectual properties globally. This will assist the business owner/entrepreneur to adopt steps to take in protecting his/her business assets.

Copyright is the right to copy

This means that the original creators of products and anyone they give authorization to are the only ones with the exclusive right to reproduce the work.

In law, copyright is the exclusive right, given to the creator of a work, to reproduce the work, usually for a limited time. Copyright protects the original expression of an idea in the form of a creative work, but not the idea itself.

Copyrights in Nigeria

In Nigeria, a copyright is a protection provided by Federal Laws for intellectual works. A copyrights is also, a form of protection provided by the laws of the Federal Republic of Nigeria to the authors of “original works of authorship,” including literary, dramatic, musical, artistic, and certain other intellectual works such as software.

In addition, copyrights may be obtained on pantomimes and choreographic creations, pictorial, graphics and sculpture works; motion pictures and other audiovisual works, and architectural accomplishments.

Finally, it should be noted that, copyrights gives the owner of copyright the exclusive rights to produce the work and to prepare any other material derived from the work.

Find out more about copyright including international copyright issues, WIPO services for creators and registering.

Nigerian Copyright eRegistration System (NCeRS)

Nigerian copyright act – COSON PDF

Easy Protection of your Ideas

How to Register a Copyright in Nigeria

Hope you do enjoy this piece.
Comment and come back tommorow to check out the concluding part of the Interlectual properties series here on THINK MEDIA NG.

Thanks for reading.-:)

 

 

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Trademarks in Business

Any symbol design or sub-combination of such or a slogan that identifies the source or sponsorship of certain goods and services is called a trademarks. On like the patent, a trademark can last definitely as long as the mark continues to perform its indicated function. A trademark is given an initial 10 years registration with 10 years removable terms.

Affidavits is usually filed in the 5th-6th years indicating that the mark is currently in commercial, use. If no habituates is filed the registration is canceled. Registration is canceled. Registration must be renewed between 9th-10th year or else it will be canceled but a 6 months of grace is allowed.

Registration of Trademarks can cover significant benefits to the entrepreneur.

Benefits of Trademarks

1. You have the exclusive right to the use of the mark throughout the territorial unit of the registration.

2. It entails you to take legal action against any infringement and claim damages cost.

3. Establishes incontestable right regarding the commercial use of the trademark.

4. It entitles you to use the notice of registration.

5. It provides the basis for filing trademarks application in foreign countries.

6. It provides right to deposit registration with custom and exile to prevent importation of similar trademarks.

Protection against theft of brand identifiers

Everyone is aware of the fact that just a few months ago in March, Apple managed to win 539 million US dollars from Samsung in court as the Cupertino giant got the federal court in San Jose to rule against Samsung for infringing on a number of smartphone-related patents. While the details of the case are still a bit sketchy and not without its own set of controversies, there is no doubt about the fact that Apple won big because they were wise enough to trademark and patent almost every aspect of their products and business before anyone else did.

Trademarks are of course, different to patents in the sense that the former refers to the exclusive legal rights of using a particular, distinguishing mark/word/sign which acts as an identifier for the concerned company, while the latter mostly concerns registering exclusive legal rights pertaining to new designs, innovations, novel ideas, inventions, etc. by the concerned party. Nevertheless, it serves as a fine example of how trademarks, copyrights and patents can not only help a business to stand out from the rest, but in the event of a breach, they can also receive adequate compensation from the accused parties.

Trademarks are crucial for marketing

In many Asian countries, the iPhone is seen as a status symbol and, strange as it may seem to an outsider, it is one of the main reasons why Apple has a good market share in the higher segment of smartphone sales in countries such as India, Bangladesh and Sri Lanka. The point here is that when people start associating a brand with quality, status, good price-to-performance ratio or any other positive trait, the sales will increase and it is exactly during that time that the company will need a registered brand identifier that lets people recognize its products by simply looking at the logo, sign, or mark.

Read more… 

New dawn for trademarks in Nigeria – all eyes are on regime overhaul

The Ultimate Secrets to Protecting your Business Trademarks

Hope you have learn today! Comment now and visit this platform tomorrow for another business related topic.

Thanks for reading.

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Teenage SEO Wizard Uses Social Media to Teach Marketing

 

Every year, Google tweaks its search bot algorithm making Search Engine Optimization (SEO) more competitive every year. Thankfully, there are tools like Google Search Console and Neil Patel’s Ubersuggest to help. But are they enough?

Koosha Azim SEO
Teenage entrepreneur and digital marketer Koosha Azim shares his take.

“There are plenty of free useful SEO tools out there that often go unused by the majority of website developers. There are enough websites and blog posts indexed on Google that share every inch of the digital marketing realm. It is up to the entrepreneur or blogger to use these tools or spend way too many hours testing content.”

Meet Koosha Azim

Koosha Azim is a digital marketer who makes videos about SEO and social media. He even releases free marketing tips on his Koosha Azim blog. With several months of rigorous WordPress website optimization experience, Koosha has learned the ins and outs of SEO.

The following is a video from Koosha Azim’s official YouTube channel explaining Reddit and Tumblr SEO practices.

“I had no knowledge of ranking pages, posts, or categories on Google search. After months of rapid searching and reading, I was able to learn much more than I thought would be possible.”

He even believes that LinkedIn is the future of video content. With over 4,000 followers, Koosha also posts much of his YouTube content on LinkedIn to reach more professional audiences.

Much of his following has been accumulated from his videos that often go viral under hashtags such as #linkedin or #marketing.

Here is a recent video he posted on his LinkedIn profile introducing the concept of having a Creator Mindset:

For more information about Azim’s background, history, and work, check out his Everipedia page: Koosha Azim Everipedia & follow him on Twitter.

Curious to know about Snapchat streaks? Check out this article ( click ).
Check out one of Koosha’s articles on Think Media Nigeria

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Koosha Azim: Creator Mindset Video

I always preach that it is important for people to be positive about themselves and be optimistic when in adversity. In the following LinkedIn video, Koosha Azim explains the idea of a Victim and Creator Mindset.

Having a Creator mindset helps in both business settings and with the rest of daily lives. Contrastingly, a Victim mindset could potentially hurt relationships and hurt mental health.

To learn more about Koosha Azim, check out his blog on his personal website.

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Gen Z Social Media Hate With Koosha Azim

Koosha Azim on Instagram

If social media users put aside the distractions and plethora of fake, unreliable influencers and third-party services, they are left with a diverse environment to build a digital empire. Nonetheless, one can expect to receive doubt or negative energy through direct messages or comments on a post.

This is a prominent piece of social media that people and businesses have to ignore, circumvent, or block…With exploring this digital landscape comes maturity and many other decisive traits that are required to block hate. Allowing hate to penetrate your character is a recipe for disaster, so act shrewd and learn how to act upon criticism when it arrives.

Hate often comes in the form of comments, direct messages, and stories where other social media users may tag you and proceed to leave judgemental comments about your appearance, work, or content. To understand the reasoning behind these insults, it is best to view things from the provocateurs perspective. Why would they spend the time and effort to send a hateful message to you? What brings them to the conclusion that you are this or that?

The answer to these questions may very well lie in your success. Believe it or not, most people naturally despise seeing others succeed. Humans are competitive animals who desire to reach the peak of their subconscious social ladder. When others succeed or show joy in what they do, there are always others who feel jealous or do not like seeing others happy. As blunt as this sounds, competition is everywhere: including our heads.


Koosha Azim

If you found this to be helpful, consider checking me out on social media and connecting with me!

Check out my Reddit: https://www.reddit.com/user/kooshaazim

Tumblr: https://kooshaazim.tumblr.com/

Instagram: https://instagram.com/kooshaazim/

Koosha Azim YouTube

Latest video: https://www.youtube.com/watch?v=1CWTy-sxuvQ&t=4s

MY NEW PERSONAL WEBSITE: kooshaazim.com

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Emirates plans to grow operations in Africa as growth outperform other markets

Emirates Airline has said it sees potential for growth in Africa, with plans to increase its frequencies to some destinations including Morocco, Ghana, Senegal, Egypt, and South Africa.

Orhan Abbas, senior vice-president of commercial operations in Africa for Emirates, said Africa has been one of the strong performing markets for the carrier over the past two years, even amid challenges.

In the year ending March 31, 2019, Emirates saw a 9 per cent rise year-on-year in revenues from its operations to and from Africa, with the region registering the strongest growth compared to other markets.

The second largest growing markets in terms of revenues were the Americas, at 8 per cent, followed by Europe at 6 per cent.

Abbas said the growth in travel into and out of Africa stems from various sectors including leisure, business travel, trade, and religious travel especially for Hajj and Umrah from West Africa.

Read more …https://lnkd.in/dbZfHUa

Mark-Anthony Johnson, CEO at JIC Holdings.

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Why does Koosha Azim use YouTube for content?

Due to the slightly mediocre quality of my YouTube content and frequent video posts, people often ask me why I am creating video content. Before going on to answer this question, it is important to establish and present the niche I am attempting to fit into.

My Niche

The best thing about having a relatively small number of subscribers and low viewership is having the liberty to try out different fields of content. Whether it is marketing or tech startup based videos, I always prioritize weekly uploads to document my weekly/daily activities. Looking forward, I hope to balance my marketing efforts alongside my startup activities and side gigs.

Koosha Azim (left)

Before optimizing my YouTube personal brand to accommodate larger audiences, I must create a social media marketing strategy which will take time and effort I currently do not have. Watch my latest video below!

So Why Do I Create?

Creating has many advantages that your ‘average Joe’ may not understand or know about. Here are some of the advantages I have adopted:

    • Wider audiences ( Video Content Medium )
    • Increased engagement across other social media pages
    • Documenting the present to reflect in the future
  • Learn how to create, edit, and promote videos

So with the benefits above, why don’t most extroverted entrepreneurs openly create video content. That is a question I am still trying to answer. Some of the obvious answers that come to mind are that people are too ‘lazy’ or do not possess the commitment/time for YouTube. While these explanations may be reasonable, the advantages of video content are definitely worth exploration!

Koosha Azim (far right) with Alec Petros (far left) and Garry Tan ( Initialized Capital )

3 Reasons Why Video

Go follow, leave a like, and explore Tumblr https://kooshaazim.tumblr.com/

Follow Koosha Azim everywhere:

LinkedIn: https://linkedin.com/in/kooshaazim/

Instagram: https://Instagram.com/kooshaazim

Twitter: https://twitter.com/kooshaazim/

Crunchbase: https://crunchbase.com/person/koosha-azim

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Medium: https://medium.com/@kooshaazim_/

Quora: https://www.quora.com/profile/Koosha-Azim

Reddit: https://www.reddit.com/user/kooshaazim

Pinterest: https://www.pinterest.com/kooshaazim/

I use all of these platforms to boost my Google search results, show my personal brand, and help my audiences grow with me.

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Here’s how to use Instagram influencers to get more sales if you have a local business

Originally published on LinkedIn by Gary Vaynerchuk on 18/02/2019

Here’s are the steps to use Instagram influencers to get more sales if you have a local business:

Step 1: Go open instagram.

Step 2: In the search bar at the top, search by location.

Step 3: Enter your city

Step 4: You’ll see all the “top” photos within a one mile radius of your town.

Step 5: Message users who posted the top photos, and say something like “I own a car dealership. I’d like to pay you to show up at my dealership this Saturday from 12 – 4, and tell your followers about it.”

Step 6: Ask them how much they charge, pay them, and see what happens.

Whether it “works” the first time or not, you’ll learn the game.

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