Millinetwork

Do you have a business and will like to talk about it to people here is your chance to do so on millinetwork for free. Telling us what your business is all about, it's benefit to the people and why they should patronize you. Note terms and conditions apply.

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*Incredible Success Story of the Nigerian Man Behind Tecno Phone*
Nnamdi Ezeigbo is the founder and CEO of SLOT systems limited, and also the brain behind TECNO and INFINIX, the fastest selling phone brands in Nigeria. Many people are not even aware that these popular phone brands are the brainchild of a fellow Nigerian. His success story is a very remarkable one.
Nnamdi Ezeigbo studied Electrical Electronics Engineering at the Yaba College of Technology in 1988, and got a Higher National Diploma (HND), before serving his country, Nigeria, during his National Youth Service Corps (NYSC) year at Guinness Nigeria PLC, in 1996.
After completing his youth service year, Nnamdi Ezeigbo tried to no avail to secure a job with a company in Nigeria. With no promising signs of any potential employment, he went on to work as an apprentice learning how to repair computers. After which he launched out on his own to repair computers for individuals. Since he didn’t have any cash at the time, he had to squat with a friend of his at Ikeja, who owned a book store. His customer base grew, largely because of his honesty and the premium he placed on customer service.
The mutual trust and good relationship with his customers, was what gave him his first break in business. One day, an old customer he knew from his days as an apprentice, came to his little shop to see him. He told him he would love him to continue fixing his computers, but would prefer he operated from a larger and more serene environment. To help him out, the customer brought some printers for Nnamdi to sell, from which he used the proceeds to setup a new shop for himself. He paid for the store at a then price of 180,000 Naira (He later bought that same store many years later for 100 million Naira).
From his new store, he began to sell computers. As his business grew, a lot of customers started to both demand for slot stores in areas close to their vicinities, and to ask if they sold mobile phones. With a keen eye to spot opportunity when it presents itself, Nnamdi Ezeigbo immediately expanded his business to also cover the sale of mobile phones.
With no real knowledge on how to manage a growing business, Nnamdi decided to enrol for an MBA program at the prestigious Lagos Business School. He also began to attend many workshops on entrepreneurship, and that helped to sharpen his business acumen and develop his legendary entrepreneurial prowess.
During this process, he and his team decided to take a 5 year route to build a strong reputation for their brand. By the time the projection had elapsed, the Slot brand name was the most reputable mobile phone retailer in the whole country.
The rise of telecommunication networks created many opportunities in the Nigerian market. Their poor services caused many Nigerians to purchase more than one mobile phone, so they could try a different network when the other was bad. Nnamdi realised this problem early on, and approached Nokia in a bid to convince them to manufacture dual sim phones for Nigerians, so they would carry only one mobile phone at a time instead of two. They refused to listen because, seeing people carry more of their phones meant more phone sales for them.
According to his interview with Nairametrics, Nnamdi said;
*“So I went to China and got a guy who had worked with a company called Bird then. Bird was into phones but they got choked and lost market share. I met with the guy and asked the guy to let us do something. I came with that name and I registered it here and brought the guy to Nigeria. And that was the high point of our business. We came together and I designed the first Tecno phone, Tecno T101. We started it but the market did not accept it and we also had problem with the dual SIM not working together and we had to make corrections and we came with Tecno 201 and that was a bit accepted by the market. But we were basically giving marketers on credit to sell the phones and then pay us later. And I was funding it all alone.”*
*“Since I was funding it alone, we were finding it difficult to get the right quantity to sell until the market started accepting us. What I now did was to make them pay in advance, I mean the dealers. So we started using their money to order the products. This was around 2007. The introduction of Tecno brand was the turning point of our business.”*
*“Like I said, Tecno is my baby and we kept improving. I knew a day would come when the middle class would accept Tecno. Initially, it was a phone for low income people but based on improvement and upping our game, the middle class had to accept it and when the economy went down in 2008 that helped Tecno to move to the top. Since purchasing power had dropped, they had to go for something that have same capabilities but cheaper. So with N15,000, you could buy a Smartphone and thank God for 3G network. The advent of 3G network actually helped Tecno to move up. So students who could not afford to buy phones in the range of N30,000 could buy one for N15,000 and enjoy features of Smartphone like Facebook, Twitter, Whatsapp and so on.”*
Today, Nnamdi Ezeigbo is a phenomenal success story in Nigeria and indeed Africa. From a humble repair man, he has built a MULTI-MILLION DOLLAR company and one of the most recognizable brand in Nigeria.
There are many lessons in this story.
Pay attention to your business no matter how small it is today, it can be the seed of a global company tomorrow.
Integrity in business is extremely important, it will open doors for you, and speak for you, even when you are not present.
When you see opportunities, grab it and run with it. Nokia refused Nnamdi’s idea, Nokia was mighty and Nnamdi was nobody, but today because Nnamdi believed in his idea and grabbed the opportunity, Tecno is everywhere, and Nokia is dead. How are the mighty fallen? Run with your idea, and this too will be your story.
Keep improving your products and services every day. Nnamdi kept improving Tecno steadily until it became an accepted brand in Nigeria.
Most importantly, the greatest investment you will make is an investment in yourself. As a business man, if you can afford a business school, enroll.
Don’t waste your time crying over the economy of the nation, there is nothing you can do about it, but there is a lot you can do about yourself. God bless
http://www.nairaland.com/3545271/successful-story-owner-tecno-phones

Successful Story Of The Owner Of Tecno Phones - Business - Nigeria *Incredible Success Story of the Nigerian Man Behind Tecno Phone* Nnamdi Ezeigbo is the founder and CEO of SLOT systems limited, and also the brain behind TECNO and INFINIX, the fastest selling phone brands in Nigeria. Many people are not even aware that these popular phone brands are the brainchild...

Wishing you all our dear reader and followers a bountiful prosperous 2017.

Discover How To Spend Wisely To Save Money

Have you ever observed that the things you buy every week at the stores and other market place go up a few cents between shopping trips? Not by much…just by a little each week but they continue to slowly creep up and up dangerously affecting our personal finance.

All it takes for the price to jump up by a lot is a little disturbance in the world wide market, take a look at the price of petrol or crude oil in general as it relates to world affairs.

There is a way that we can keep these price increases from impacting on our personal finances so much and that is by buying in quantity or wholsale and finding the best possible prices for the things we use and will continue to use everyday… things that will keep just as well on the shelves in our homes as it does on the shelves at the store or other market place.

For instance, dog food and cat food costs about 10% less when bought by the case than it does when bought at the single can price and if you wait for close out prices you save a lot more than that.

Set aside some space in your home and make a list of things that you use regularly which will not spoil. Any grain or grain products will need to be stored in airtight containers that rats can’t get into so keep that in mind.

Then set out to find the best prices you can get on quantity purchases of such things as bathroom items and dry and canned food.

You will be surprised at how much you can save by buying a twenty pound bag of rice as opposed to a one pound bag but don’t forget that it must be kept in a rat proof container.

You can buy some clothing items such as men’s socks and underwear because those styles don’t change, avoid buying children’s and women’s clothing, those styles change and sizes change too drastically.

Try to acquire and keep a two year supply of these items and you can save hundreds of dollars abi na naira.

Do You Know That If You Save To Be Rich You Will End Up Poor by
Save, save money, saving ten percent of your income will go to make sure you become rich; this is a common statement among those dished out to us from our financial mentor, adviser or consultant, but how true this statement is.

To save ten percent of your income will not in anyway go not to talk of a long way in your quest to achieve the status of being rich.

Many of you that will read this post will be people who have put in a great effort in saving a percentage of their income and putting forward to this set of people

"With your entire entire saving can you afford to eat what you want to eat? Go on vacation when and where you want to go? Can you? Can you send your kid if not kids to the best school without worrying about digging deep into your saving? Can you afford to give your loves one the best of the best healthcare?

The answer to this question will of course be "NO" not yes and even if you say yes then how confident are you about it?

To be rich you must not save to be rich but save to invest to earn more to invest with to create multiple stream of income that will also required you to gain the necessary knowlegde to managing and sustaining the continuous flow of your multiple stream of income.

If you Want to be Rich, Do Something Worthy

Why all this hullabaloo in this country sef?

Meanwhile

During a robbery in Guangzhou, China, the
bank robber shouted to everyone in the
bank: "Don't move. The money belongs to
the State. Your life belongs to you."
Everyone in the bank laid down quietly.
This is called "Mind Changing Concept”
Changing the conventional way of thinking.
When a lady lay on the table provocatively,
the robber shouted at her: "Please be
civilized! This is a robbery and not a r**e!"
This is called "Being Professional” Focus
only on what you are trained to do!
When the bank robbers returned home,
the younger robber (MBA-trained) told the
older robber (who has only completed Year
6 in primary school): "Big brother, let's
count how much we got."
The older robber rebutted and said: "You
are very stupid. There is so much money it
will take us a long time to count. Tonight,
the TV news will tell us how much we
robbed from the bank!"
This is called "Experience.” Nowadays,
experience is more important than paper
qualifications!
After the robbers had left, the bank
manager told the bank supervisor to call
the police quickly. But the supervisor said
to him: "Wait! Let us take out $10 million
from the bank for ourselves and add it to
the $70 million that we have previously
embezzled from the bank”.
This is called "Swim with the tide.”
Converting an unfavorable situation to
your advantage!
The supervisor says: "It will be good if there
is a robbery every month."
This is called "Killing Boredom.” Personal
Happiness is more important than your
job.
The next day, the TV news reported that
$100 million was taken from the bank. The
robbers counted and counted and counted,
but they could only count $20 million. The
robbers were very angry and complained:
"We risked our lives and only took $20
million. The bank manager took $80
million with a snap of his fingers. It looks
like it is better to be educated than to be a
thief!"
This is called "Knowledge is worth as much
as gold!"
The bank manager was smiling and happy
because his losses in the share market are
now covered by this robbery.
This is called "Seizing the opportunity.”
Daring to take risks!
So who are the real robbers here?