Good Insurance Agent Qualities That Will Make You Successful in 2023

Good Insurance Agent Qualities That Will Make You Successful in 2023

If you’re passionate about helping your friends and neighbors protect what is important to them or you’ve always wanted to manage your own business? If you have ever contemplated becoming an insurance agent or wondered whether this career path could be right for you, there are several qualities that you will need to possess, at least to some degree. Whatever your reasons, with every new job comes new skills to develop.

When learning how to be a successful insurance agent, it's critical to know that agents who are willing to put their clients into a product that pays a lower commission because it better fits their needs are much more likely to retain customers.

Selling insurance can be a lucrative proposition, with relatively high-paying commissions and a high degree of autonomy with flexible work hours.

However, it is not an easy job. You can expect a high rate of customer rejection, stress, and attrition rate. Still, all good insurance agents share some of the following skills and knowledge, plus core qualities in one way or another.

1. Communicative

Client/members want to work with someone who they can have a conversation with and trust. At Farm Bureau, we don’t just sell insurance; we grow relationships within our communities. We look for individuals with strong communication skills to navigate important life topics with their clients and to deliver on the Farm Bureau promise of continuing these conversations as needs change and evolve.

2.Flexible

Helping protect your community isn’t always a 9 to 5 job. Our client/members count on us to be there in times of need, both day and night. Successful agents know that selling insurance is more than just a job. They’re on-call and ready to go when their products and services are needed most. Customers who are able to get hold of their agents when they need them are much more likely to stay happy and reassured. A timely response to inquiries and phone calls is a must, and you must be able to do what you say you will do, when you say you will do it, or at least have a good reason as to why you can't.

3. Persistence. 

This is perhaps the most vital quality of any good insurance agent. Those who work in this field absolutely must be able to handle rejection on a daily basis over the course of their careers and do it with a smile. Good insurance agents understand that each "no" only brings them closer to someone who will say "yes." Successful insurance agents do their homework and use the resources they have at their fingertips. Great agents are attentive to detail, return client calls promptly and are on time to every appointment. 

Being organized makes you more productive, which helps you reach your business goals while helping protect the futures of your client/members. But, with determination and persistence, you can survive the rejections and use them to your advantage. Again, that doesn’t mean badgering prospects until they say yes or slam the phone down. It means understanding that not everyone wants what you are selling. Keep going despite the rejections.

4. Honesty. 

Insurance agents who use deception to close business seldom stay with the same company for very long—and can end up behind bars in some cases. A good agent knows that telling the truth upfront will win them clients' respect and trust and is likely to lead to repeat business over time. Becoming a successful agent requires building relationships and being an important resource in your community. Making connections in your community will help you understand the insurance needs of your client/members. Community engagement will give you the opportunity to show your community what’s important to you and how you’re willing to do what you can to help your community.

5. Technical know-how. 

A good insurance agent knows much more than how to sell a policy. The agent must understand the tax and legal aspects of the products they sell and how they are designed to fit into a client's overall financial situation. Many agents earn financial planning designations such as the Certified Financial Planner®, Chartered Financial Counselor, or other credentials. Some agents practice financial planning, income tax preparation, or some other avenue of financial service as their primary profession, and then add-in insurance business when it becomes necessary.

6. Self-Motivation 

Being an insurance agent and running your own business is not easy. In any given day, there is a multitude of challenges and frustrations to overcome; from frequent rejections to financial concerns. Without a strong mental attitude, you can easily become dejected and lose faith in your ability to succeed as an agent.

One of the most common traits among successful agents is the ability to self-motivate. Those that stay the course to success can overcome rejection and other business challenges better than anyone else. They know that there is no smooth path to success. 

A wide array of products. As the old saying goes, if all you have to work with is a hammer, then everything in the world looks like a nail. A good insurance agent will be able to offer a comprehensive selection of products and services that can meet any reasonable need a client might have.

You will have to stay motivated and keep going despite failures. The more energy and enthusiasm you have for your career, the easier it will be to stay motivated. A big part of developing self-motivation is loving what you do.

7. Willingness to Win 

The competitive landscape in business is stronger than ever before. You have to compete with other agents, companies with better financing, and technological advances. Knowing how to turn all the apparent adversities into advantages is crucial. You can find ways to become the best agent in your area, use the lack of financing to position your agency as the endearing underdog, and leverage technological advances to your benefit. 

In short, you need to have the willingness to win. You must find ways to gain the competitive edge over other agents if you are to succeed in today’s contentious market. Winning, however, does not mean alienating yourself from other agents. In fact, remaining friendly and cooperative with other agents will be beneficial to your success. 

Winning means being the best at what you do. You could, for example, become known as the agency that provides the most comprehensive after-sale service; or perhaps, you will be the best at finding the most appropriate policies for individual client needs. Whatever the case, the key is to adopt a winner’s mentality that will drive you to become a successful insurance agent.

These points are just some of the qualities that life insurance agents must possess in order to be successful. The life insurance business can be very challenging and immensely rewarding for those who are willing to learn the necessary skills to build their business.
 
15 small business ideas in South Africa that actually work in 2023

15 small business ideas in South Africa that actually work in 2023

Are you thinking of starting a small business in South Africa? We got you covered! South Africa is a very good place to start a small business.

The place is full of opportunities and with the right business idea and careful planning, you can be sure that it’s going to be a successful one.

If you are planning to start a small-scale business in South Africa, there is no shortage of opportunities.

Find out below reliable jobs aggressive wealth hunters use to generate wealth in South Africa in the 21st century.

The market has been growing at a rapid pace in the past few years, thanks to the advances in technology and the ever-increasing demand for various goods and services.

1. Open a Cyber Café

If you live in South Africa and have always wanted to start your own business, then you should consider opening a cyber café.

Cyber cafés are known to be one of the fastest-growing markets in the country and you could make a tidy profit if you set up shop in an area with a lot of foot traffic.

To get started, all you need is a computer that has access to the Internet, and you’re good to go. Allowing customers to surf the web at your establishment is all it takes to be profitable.

If your cyber café is located near a university campus or shopping mall, then you will likely have customers coming in daily.

You can also add extra services such as printing, faxing, and scanning documents to increase your revenue.

2. Hairdressing

How do you make money fast in South Africa? The world of beauty and cosmetology is ever-growing, and hairdressing services are a fantastic business opportunity.

Today, men and women are more conscious about physical appearance, and hair grooming has become crucial. Before starting this venture, check the legal requirements in the country and adhere to them to avoid closure.

3. Event Planning and Management

Event planning and management is one business idea that does not require a lot of capital to set up. You can start this business as a side hustle and make it a full-time business later on.

Event planners organize everything from small parties and birthday celebrations to large corporate events, conferences, seminars, and product launches.

You will need to be detail-oriented, organized, and have excellent networking skills. You may also be required to work long hours when planning an event.

The more successful you are in your event management business, the more you will be able to charge your clients.

4. Professional make-up

Do you enjoy doing make-up and wonder how to start a business in the beauty industry? Professional make-up artists earn big money from offering their services, and so can you.

For this idea to succeed, you must understand and master various make-up techniques. It is important to enrol on make-up classes to hone your skills.

5. Open a Bakery Shop

If you love baking and have a flair for it, opening a bakery shop is one of the best small business ideas in South Africa.

One of your biggest tasks would be to set up a kitchen, where you can store the ingredients and bake your products.

Once this step is completed, you will need to start selling your products. You can either open your store or supply baked goods to other stores.

You will need to learn the basics of baking and handling food products. In addition, you should also know how to maintain hygiene standards in the kitchen.

6. Electronics repair

Repairing electronics is a well-paying service that feeds several South Africans. The business is rapidly growing as almost everyone uses technologies like phones, smart TVs, computers, and audio devices.

These devices are prone to damage, meaning that electronics repair services are in demand throughout the year. One of the challenges faced in this business is the need to update tools and knowledge because technology is ever-changing.

7. Become an Uber Driver

If you’ve got a car and you’re looking to make some extra money, then why not become an Uber driver?

Uber is a ride-sharing app that allows people to request a car ride with a couple of clicks on their smartphone and have someone turn up to pick them up within minutes.

It’s an easy way for people to get around without having to hail a taxi or wait for the bus.

To become an Uber driver you’ll need an in-date driver’s license and a smartphone that can download the Uber app.

You can drive whenever it suits you, as Uber allows you to set your hours, so it’s ideal for people who want to earn some extra money in their spare time.

8. Gym

Physical fitness and health are a growing concern, especially in towns and cities in South Africa. You can start a gym where people can come and exercise under the guidance of people trained in sports science.

9. Open a Restaurant

If you have a passion for food and love mixing with people, opening a restaurant could be the perfect business idea for you.

The most important thing is to know your market and your USPs (unique selling points) – what makes your food special or different?

Who is going to eat at your restaurant? What’s the right type of food to serve in your area and how will you price it?

Once you’ve done that, it’s time to think about the practicalities.

You can start researching suppliers and looking at premises, but remember you’ll need to create a business plan, raise finance, and secure funding before you can open the doors.

10. Music instructor

Can you play one or more musical instruments, or are you a professional musician? You can use your skills or talents to make money by training others to sing or play the instruments. This idea is fantastic because you can train online or in person. You can also have multiple clients, as each only demands a few hours a week.

11. Laundry services

You can set up a laundry mart in South Africa and make big money. Before starting this venture, research your location to establish the target population and how much people are willing to pay. Beware that you will need capital to purchase the requirements for the business.

12. Online custom tailoring

Can you sew quality and fashionable clothes? People are increasingly becoming aware of their looks and the quality of fabrics. You can brand yourself as a custom tailor and deliver your products to clients via courier services.

You should perfect your sewing and design skills for this business to succeed. You must also listen to customers' needs and deliver as agreed.

13. Start a Uniform Sewing Business

The uniform sewing business is very lucrative in South Africa. It is a highly profitable venture for anyone who doesn’t mind getting his or her hands dirty.

This is because uniforms are needed across all sectors, from schools to hospitals and the public sector. Uniforms are used by governments, businesses, religious institutions, and private individuals.

They are used to project a sense of belongingness, uniformity, and professionalism. Uniforms can also be used to differentiate employees from customers and clients.

Starting a uniform sewing business will require that you know how to use a sewing machine as well as other equipment that’ll be used in the process.

Although it might seem easier to employ someone to do this for you, it’s better that you learn these skills yourself so that you can keep costs down and maximize your profits.

14. Start a Brick Manufacturing Business

If you’re looking for small business ideas in South Africa, a brick-making business would suit you.

Once you have decided to start your brick manufacturing business it is very important to choose the right location for starting your business.

You need to make sure that there is a sufficient amount of raw material available in the area where you have chosen to start your brick manufacturing business.

You also need to make sure that there is a market for buying bricks in the area where you are planning to start your brick manufacturing business.

If you do not find enough customers then you will not be able to make high profits.

You also need to make sure that there are no competitors nearby so that it will be easy for you to survive in the market.

15. Writing and editing services

If you have editing or writing skills, consider setting up a website and offering your services professionally.

With more and more companies moving part or all of their trade online, the demand for well-written online content is high. If you’re familiar with SEO basics and have strong copywriting skills, you can offer content marketing services.

If you have a passion, you could also simply start a local blog. Then work towards using it to earn advertising revenue.

For example, South Africa is a travel destination of note. A blog could give potential visitors a glimpse into everyday South African life. Write articles about your favourite local places and activities, and illustrate with attractive images.

Each of these small business ideas in South Africa deserves your consideration and will pay off wonderfully if you are ready to invest your time and hard-earned money into it.

It is important to note that this article is targeted at helping you start a business whether you are an unemployed graduate or a stay-at-home mom who would want to earn a living while raising her children.

These business ideas are not restricted to any certain type of people and anyone can take advantage of them.
12 Great Business Ideas to Start and make Money in 2023

12 Great Business Ideas to Start and make Money in 2023

A home-based business is a venture—whether full time or run as a side hustle—you can start and operate using your own personal residence as your base of operations. A few home-based businesses, especially those that sell online and don’t buy and hold lots of inventory, can even be run on the go, without the need to be bound to your home.

1. Online reselling

If you’re interested in clothing and sales, you might consider starting an online reseller business. Although it takes time, dedication and an eye for fashion, you can start your business as a side hustle and turn it into a full-time resale business. You could start by using online store websites like Poshmark and Mercari to sell your unwanted clothing and items, then expand to your own resale website.

Consider shopping estate sales and flea markets for hidden finds at a low cost and then listing them for a profit online. You may be able to collect a substantial inventory of items that are in good shape for very little overhead if you’re diligent enough and search the right places.

2. Start a print-on-demand business

Using a similar dropshipping model, a print-on-demand business doesn’t require you to hold any inventory or ship anything yourself. Print-on-demand even offers you more flexibility to customize white label products with your own creative designs.

Rebecca Lee Funk launched The Outrage, a women’s rights activist apparel brand that sells print-on-demand t-shirt designs, from her home. The business donates a portion of profits to non-profit organizations that work toward social causes like gun control and women’s rights. Her launch campaign went viral, and The Outrage turned into a thriving ecommerce business.

There are many other print-on-demand products you can sell: books, hats, backpacks, blankets, pillows, mugs, shoes, hoodies, phone cases, watches, and more, depending on the supplier you choose to work with.

3. App development

If you are knowledgeable and experienced in technology, you may want to consider a career in app development. Smartphones are an everyday accessory for many Americans that has increased the demand for mobile apps. Similarly, virtual reality software has become popular in recent years, so there is also a demand for VR app development.

4 Transcription service

If you have a good ear and can type quickly, a transcription service would allow you to work from home with a flexible schedule. Medical transcription services are especially needed as voice recognition technology proliferates for healthcare provider dictation.

You can accept as few or as many transcription jobs as you’d like. This flexibility can be especially beneficial if you’re not looking to start all at once or if you have a day job you would like to keep for now. To boost your business prospects and justify charging more, consider becoming a certified transcriptionist and delving into a few specialties.

Medical transcriptionists typically charge 6 to 14 cents per line of transcription, which adds up quickly. The typical turnaround time for transcription work is 24 hours, so it’s important to stay on top of the jobs you accept. However, the ability to accept only a few requests at first means you can scale up as you are ready. Best of all, there is very little startup cost and overhead. You only need a computer, the appropriate software and a secure messaging service.

Tip

While not required, a medical transcription license can increase your business’s competitive advantage while expanding your customer base to include larger companies. Some service providers prefer that their transcriptionists have training from a certified program.

5. Play video games

While many may think video games are a waste of time, it’s a hobby that can actually turn a profit. And there’s nothing more home-based than sitting on your couch in front of your TV.

Esports and video game streaming platforms like Twitch have opened the door for gamers to gain notoriety—and eventually money—from their talents. The esports industry alone is worth more than $1.2 billion, and a Twitch streamer can get up to 100,000 viewers at a time.

So how do you monetize this? Sponsorships are one of the best ways to start a home-based competitive gaming business. Companies will pay you to play their games and stream it to your audience. You can also sell merch on Twitch to your audience.

Video gaming is even known to be a great résumé booster. Note, though, success requires some level of gaming skill.

Here’s a unique spin: Twitch isn’t limited to just gaming anymore, and Maxx Burman and Banks Boutté used the platform to launch an online festival where they featured 12 top video game art directors.

They repurposed this content for other digital channels like Instagram and YouTube. After building a loyal audience, the two launched KitBash3D, where they sell 3D assets for video games and movies.

6. Sell NFTs

Non-fungible tokens, or NFTs, have garnered a lot of attention as a lucrative creative business you can start from home. If you or someone you know and can partner with have artistic skills, creating and selling NFTs can be a great way to generate income from home.

Artists like FEWOCIOUS have managed to make money selling their art as NFTs to the tune of millions. While those might be outlier success stories, there are plenty of other artists selling NFTs they create at home. And you can get creative, even if you’re not an artist. Take the story of Brittany Pierre, a struggling Chicago-based resident who made $109,000 selling her own art pieces and photography as NFTs, as well as flipping others’ art as NFTs.

To get started, get familiar with the minting process first. You need to have a general idea of how cryptocurrency and blockchain technology work. That way you can confidently create NFTs to sell on marketplaces like OpenSea, SuperRare, and Foundation.

To make a living selling NFTs, it’s key to stay active on social platforms where NFT communities gather. As you get your name out there with your own social media presence, making connections with like-minded sellers and collectors is key to ongoing success.

7. Launch a photography business

You can sell photos online, regardless of your level of expertise. Consider selling stock photography by either opening your own storefront or selling photos to established stock photo websites like Adobe Stock, iStock, or Shutterstock.

Being able to create a good business from your images takes more than simply knowing how to take a good photo. You also need to know how to market yourself, develop your own brand, and pick a photography niche. Our video goes deeper into the process, including how to create a storefront for your images, with plenty of examples.

8. Start a beauty business

As an at-home business, you can start selling health and beauty items to customers through dropshipping or white label products. Some beauty items to consider include:At-home spa rituals
Personal care items. Beauty technology (think massage guns and smart mirrors)

As you dive in and think about the best products to list in your storefront, consider convenience as part of your seller strategy. Consumer trend research shows customers are keener to buy from businesses that offer convenience in the form of multiple purchasing and delivering options, like subscriptions.

Besides a beauty product, what are you providing that makes for an experience that keeps your customers coming back? Keep in mind that customer loyalty, as well as customer retention, are a key part of maintaining recurring revenue.

9. Start an affiliate marketing business

Affiliate marketing is a profitable and unique business idea when you have digital marketing skills. Product affiliates can make money on all sorts of platforms that allow partner links. Affiliate portals like ShareASale or LTK are only a few out of many places you can find products to be an affiliate for.

Deciding on an affiliate strategy is where you’ll want to get creative. For example, some businesses choose to share their affiliates through their Instagram Stories, while others choose to create a website with valuable content that contains affiliate links to partner products.

Your Social Team has a highlight reel on Instagram where it shares its best affiliates with its existing customers. It’s a great way to generate passive income as your target audience visits your profile.

Affiliate pins on Pinterest are yet another possible route. The more people repin your affiliate pin once you create and pin them to your boards, the higher the chances you’ll be able to add up commissions.

The affiliate industry does come with its own set of regulations. So if you’re looking to make money through affiliate links, it’s important to publicly disclose that you’re a partner with that brand. FTC regulations surrounding affiliates are mandatory. So don’t gloss over those as you begin to establish an affiliate online presence.

10. Owning a food truck

Food trucks come in all shapes and sizes, serving up a wide range of snacks and cuisines. Take your favorite style of food on the road, and sell your culinary passions directly to hungry customers. Sure, you’ll be working, but you’ll be in a space you’re passionate about, with a chance to connect to people who have similar interests.

Starting a food truck is a great small business idea for entrepreneurs with a taste for the culinary. The overhead and upkeep for a truck is significantly less than for a restaurant, and you have the added benefit of mobility. [Check out our recommendations for POS systems for your food truck.]

Starting a food truck business can be profitable. However, there are some startup costs to consider, such as purchasing a food truck and modifying it to meet local regulations.

11. Graphic design

Corporations, small businesses and sole proprietors all need eye-catching promotional materials, but not everybody has an eye for what looks good. If you have an artistic streak and know how to organize content into a visually pleasing format, start a graphic design business to provide flyers, digital ads, posters and other engaging visual materials. Graphic design requires few physical tools beyond a laptop and a desk.

12. Become a social media manager

You don’t have to work for an agency to dive into social media marketing. You can start your own social media management business from home with a laptop, social media management tools like Sprout Social, Hootsuite, or Buffer, an internet connection, and your own social media presence.

Take it from Rachel Pedersen. With a TikTok following of one million and a strong presence on Instagram and YouTube, she was able to quit her job as a hairdresser and run her social media business from home.

The hardest first step in a service-based business is landing your first customer. Leverage your network to let them know you offer social media services. Use social platforms like YouTube and Instagram to show your expertise and draw in customers.

The average salary of a social media manager hovers around the $70,000 to $80,000 mark. As your own boss, earning potential can surpass that.

12. Host a podcast

Podcasts have become extremely popular, with more than 100 million active podcast listeners in the U.S. alone. Best of all, you can start a podcast on any topic that interests you, from business to history to pop culture and more. Starting a podcast requires consistency and dedication, as well as a basic understanding of audio editing (and video editing if you want to start a companion YouTube channel for subscribers to follow).

Once your podcast has built up a substantial following, you can sell time to advertisers or establish partnerships with companies that generate revenue. As your brand expands further, you may even be able to charge to speak at events or moderate panels on topics your podcast focuses on. Of course, in order to get to that level, you need to come up with a unique small business idea that you’re passionate and knowledgeable about, and then make sure you can relate to your target audience.

Starting a business takes work, but with the right tools and guidelines, your company will be up and running in no time. Although your specific business journey will be unique to you, we identified a few steps that entrepreneurs can take to start their businesses.

As you would when starting any type of business, think carefully about your goals and what you enjoy working on to create a new at-home business that works for you.
8 Best Sales Strategies and Plans for Success from Real Companies

8 Best Sales Strategies and Plans for Success from Real Companies

No matter how big or small, every business needs a sales and marketing strategy. Depending on how much experience you have in either field, that task can sound daunting.

A strong sales strategy plan creates the foundation for a cohesive and successful sales organization. Sales strategies and initiatives also align salespeople on shared goals and empower them to do their best work — keeping them happy and successful, too.

There’s no need to worry! You do not have to reinvent the wheel. The beauty of being in business is that you walk on a road paved by giants. Sure, you’ll want to toss in a little spice of your own. Perhaps someday, you’ll be a pioneer in your strategy. But for now, we need to take a look at some real examples. In this guide, we'll dig into some sales strategies and initiatives that can help you generate more leads and close more deals.

A sales strategy is a series of actions, decisions, and corresponding goals that inform you how your sales department depicts your business and its services/products to new customers. A sales strategy is the guiding light for salesmen and saleswomen to follow, providing clear objectives for the sales process, competitive analysis, and product/service positioning.

Most strategies involve a detailed plan of best practices and processes set by management. For the most part, all sales strategies involve management creating a plan for processes, practices, and goals. The most important component of choosing and implementing your sales strategy is your customer. For this reason, a sales strategy shouldn't be one-size-fits-all. Every customer is different; therefore, different organizations should draw up and implement different strategies.

1. Become a thought leader.

Sharing your advice, tried-and-true best practices, and niche expertise are some of the most long-lasting ways to build your personal brand and lend more credibility to your organization. I’m sure we all can agree that nobody wants to feel like they’re being sold to. Instead, it’s better to help people by offering solutions to their problems.

Thought leaders do exactly this, and it’s even been backed up by Edleman data. In its 2022 Thought Leadership Impact Report, Edelman found that “Thought leadership is one of the most effective tools an organization can use to demonstrate its value to customers during a tough economy – even more so than traditional advertising or product marketing, according to B2B buyers." According to the study, 61% of decision-makers said thought leadership could be moderately or very effective at demonstrating the value of a company’s products compared to traditional product marketing. Additionally thought leadership becomes even more important during economic downturns with 51% of C-suite executives stating it has more of an impact on purchases.

So what’s the catch?

Not all thought leadership content is created equal. Just as much as it can positively affect a company, poor thought leadership can be devastating to a company’s sales goals. A quarter of decision-makers who answered Edleman’s previous survey reported that thought leadership content contributed to their reasons for not doing business with an organization.

Before you plan a spree of LinkedIn posts to drive leads, consider who your audience is, what they need to know, and how your organization can help. And, it may not hurt to have a second set of eyes from your marketing, communication, and PR departments review your plan first to make sure everything is on-brand (and trackable!)

2. Value-based selling – UPS

One of the more popular sales strategies recently is value-based selling. This is the process of positioning what you’re offering and the received value of your products or services. This is the opposite of selling based on the product or service alone. Focus on the benefit, not the product.

UPS does this very well. As one of the biggest shipping and logistics companies globally, they have a lot of competition constantly nipping at their heels. However, they tend to gallop ahead of the competition by providing an extra layer of value to their services and products.

UPS has built a global infrastructure for shipping, offering deals and value to businesses that other shipping companies simply can’t. They offer a wide range of shipping options for businesses, broadening their value by producing extra value for their customers. They don’t just sell shipping deals. They sell convenience, variety, simplicity, flexibility, and peace of mind.

3. Properly research and qualify prospects.

Even the strongest sales strategy can't compensate for targeting the wrong customers. To ensure your team is selling to the right type of customer, encourage them to research and qualify prospects before attempting to discuss your product. They'll find that more work on the front end can lead to smoother closing conversations later on.

Outline the criteria a prospect should meet to qualify them as a high-probability potential customer. This should be based on a prospect’s engagement history and demographics.

4. SPIN selling – everyone

SPIN selling is a strategy that utilizes a set of four basic questions in order to move closer to a sale. In his book titled “SPIN Selling,” Neil Rackham summarizes sales as simply learning to ask the right questions. He then goes on to highlight the four types of questions that you need to ask:

S – Situational

Asking situational questions gives you data that you can’t gather through research. These are questions that are unique to the lead/prospect.

P – Problem

Asking about the problem they’re having gives you insight into their needs. It points out priority number one for them.

I – Implication

Implicational questions let you know the urgency of the situation. How soon do they need a fix?

N – Need/Payoff

Asking about what they need outside of your company gives you a general understanding of their interest independently. This provides for a solid transition to talk about features and pricing.

The idea is that each one of these questions, if asked correctly, will tell you everything you need to know about the lead, whether they qualify or not.

No specific company is mentioned here as an example because most fortune 1000 companies use this strategy in some way or another. Because this strategy is not limited to four-set questions, it can be adapted very heavily.

5. Offer a demonstration of the product.

Pitching can be the make-or-break moment in a sales strategy. The sales pitch has to be a powerful, compelling presentation, but it also can't come on too strong lest you’ll scare away the prospect.

Study the elements of a successful sales pitch and demonstrate to prospects how they’ll benefit from making the purchase. Have your team practice amongst themselves, too. Better yet, test your presentations on a few loyal customers and gather their feedback.

6. Challenger Selling – Cyber security

The challenger sales strategy is potentially one of the most popular sales models right now, but it’s not for everyone. Challenger selling may or may not be relevant depending on the sales rep, the situation, and the customer.

Challenger selling involves taking full control over the sale (as the sales rep) and aiming to teach the customer something new about their company. In turn, this forces the experience to be tailor-made to the situation.

Because of this, you can understand why it’s hard to nail down a specific name as an example. Instead, let’s imagine a situation based on an industry:

Cybersecurity.

Remember, the goal of the challenger sales strategy is to take control of the situation by informing the customer. In cybersecurity, users may not know exactly what they need, but they know they need something. Big businesses worldwide implement some sort of security network to protect their data, but they may not understand how dire the situation can be.

Cybersecurity salespeople swoop in and inform the customer of the potential dangers and what they need to stay protected. Instead of asking, they’re telling.

This can come off as a bit rude on paper, but in B2B, this is precisely what many business owners are looking for. They won’t care so much about the emotion of the sale. They want results.

7. Be willing to adapt your offering.

In sales conversations, you should expect to come across clients with unique demands. It’s only natural when working with companies of different structures and needs. Instead of saying “you won’t” or “you can’t” — make sure your sales strategy is adaptable to accommodate the customer’s desire.

8. Close deals with confidence.

How you close a sale is just as important as how you start the conversation. Encourage clear, concise, and firm closing techniques to ensure your sales team sets the right expectations and delivers on their promises.

Keeping a list of proven, go-to closing techniques will help salespeople routinely win deals. Such techniques can include the now or never close, “If you commit now, I can get you a 20% discount,” or the question close, “In your opinion, does what I am offering to solve your problem?”

What It Looks Like When Sales and Marketing Act as One

The outcome of a Sales and Marketing strategy is truly coordinated efforts that look like this; imagine that the first time a prospect indicates interest in your company, you start sending timely, relevant content introducing them to your brand and thought leadership on top-of-mind issues. Seeing the buyer’s interest and the content being sent by Marketing, the Sales team personalizes and amplifies those messages through their activities on social channels where the buyer spends time.

As the potential buyer continues down the buying path, Marketing shares mid-funnel content that makes a compelling case for change, followed by specifics about your services and products. Again, because the Sales team is in the loop, they get busy reinforcing the key messages with social shares.

As you close in on the “conversion” stage, the Sales team connects with the interested buyer who has been fully primed. Marketing reinforces these conversations with highly targeted content, such as ROI studies and success stories. Marketing can even share personalized content that resonates with the buyer’s key stakeholders and incentives the buying committee to close the deal more quickly.

The rise of the empowered buyer and importance of an indispensable customer experience are forcing organizations to reimagine how their Marketing and Sales teams interact throughout the buying process. Today’s success hinges on a truly orchestrated effort built on a solid strategy.
11 Business Opportunities In Africa That Will Make More Millionaires

11 Business Opportunities In Africa That Will Make More Millionaires

Every crisis creates two things: problems and opportunities. There is room for more millionaires to emerge in Africa. That is why this article focuses on business opportunities that can make more millionaires in Africa.

These are the biggest business opportunities in Africa that will probably define 2024 and the rest of the new decade.

These opportunities will inspire new business ideas, spark creativity and innovation, and create considerable wealth, growth, and jobs on the continent.

Some opportunities on this list are quite familiar. But some will probably shock you.

If you’re thinking of starting a business or diversifying into a new business this year, this detailed list of opportunities provides clear insights to guide your next moves.

The business opportunities you’re about to read are based on serious but unsolved problems, underserved and ignored needs, growing consumer demand, and shifts and changes in the market.

You are going to learn a lot from this.

Don’t forget to SHARE this list with your business friends.

They’re going to thank you for it.

Let’s meet the big market trends and business opportunities in Africa to watch in 2024 and beyond.

1) Solar Power

Solar energy is one of Africa’s most abundant natural resources. Most parts of sub-Saharan Africa enjoy more than 300 days of free God-given sunlight every year.

Still, over 600 million people on the continent, especially in rural areas, don’t have access to reliable electricity. In most cities and towns, power outages are the norm and people often have to rely on noisy petrol and diesel power generators.

Solar energy is free, absolutely clean and abundant. And it provides the best alternative for people in remote parts of Africa who are out of reach of electricity grids.

Interestingly, some smart entrepreneurs are rising to the challenge of lighting up Africa through solar energy, and are very likely to join the millionaires club.

I’ll share a few interesting examples…

Off Grid Electric, a solar energy provider in Tanzania recently raised $25 million from international investors and won a $5 million grant from USAID. The company is already on track to provide solar power to 1 million homes in East Africa by 2017 and has recently expanded into Rwanda.

M-KOPA, which provides ‘pay-as-you-go’ solar power systems has attracted investments of up to $40 million. This Kenyan-based business has already provided solar power to nearly 300,000 homes in Kenya, Tanzania and Uganda.

2) Food and Agribusiness

According to How We Made It in Africa, food and agribusiness are lucrative in Africa, with unending business opportunities. With high-value export crops and over one billion people to feed, the food and agribusiness market is a multi-billion dollar opportunity for Africans. With Africa importing lots of food, the market years for more entrepreneurs.

Entrepreneurs with the resources and skills to produce food locally can become the next millionaire in this industry. The market is profitable for entrepreneurs offering cheaper locally grown food that the continent imports. For example, the continent imports soybeans, rice, wheat, milk, frozen meat, wheat, coffee, and grains.

Agribusiness is Africa’s untapped goldmine, and a major potential source of millionaires in 2016.

According to a World Bank report, Africa’s agribusiness industry is expected to be worth $1 trillion by 2030.

With up to 60 percent of the world’s uncultivated arable land, fertile soils, abundant labour, and all-year sunshine, sub-Saharan Africa surely has the potential to become the world’s biggest exporter of food products.

Even if Africa decides to ignore export markets, the continent’s one billion people provides a huge and ready market for agribusiness.

Still, every year, African countries import more than 70 percent of wheat consumed, over 300,000 tons of chicken and spend more than $10 billion on imported grains, especially rice.

Interestingly, more African entrepreneurs are tapping into the vast opportunities in Africa’s agribusiness market.

And with the continued harsh impacts of low crude oil prices in 2016, sleeping agribusiness giants like Nigeria and Angola are finally putting a strong focus on agribusiness as a means to diversifying their economies. This means that governments in these countries are now more open and supportive of agribusiness initiatives.

3) Smartphones

The phone in the picture is one of the versions of the Obi Worldphone; a low-priced smartphone that’s specifically targeted at the African market.

Guess what? It sells for just about $129, and it’s selling like hot cakes.

Africa is currently the second fastest growing market for mobile phones, after Asia. However, the first wave of Africa’s mobile phone revolution is almost over.

These days, African consumers are looking to upgrade from ‘first generation’ feature phones to smartphones. It’s no surprise that the continent’s growing population of technology and fashion-savvy youth now presents a multi-billion dollar market for smartphones.

However, most ‘new-age’ smartphone devices like iPhone, Blackberry and Samsung are quite expensive for the average African. This has created a huge opportunity for low-priced smartphones that are now hitting the African market.

Better still, many of these smartphones are built on the Android operating system, have similar features to the ‘high end’ smartphones and most are just as stylishly designed.

In the last eighteen months, over a dozen low-priced smartphone brands have debuted on the African market. Given the market potential for these phones, they’ll very likely make more millionaires for the entrepreneurs behind them.

4) Internet Access

Africa’s internet market is worth billions of dollars.

It’s no surprise that tech giants like Google and Facebook are scrambling to improve internet access to millions of Africans. Google’s Project Loon and Facebook’s Free Basics are just two of several bold initiatives to connect Africa.

However, some smart African entrepreneurs are already making impressive moves to conquer the internet access market.

One example is ‘BRCK’ a startup company in Kenya that has created a rugged internet modem device that’s designed for harsh environments with limited internet connection and electricity. The modem can hop between Ethernet, WiFi, 3G and 4G, and comes with eight hours of battery life.

This African-inspired invention has already sold thousands of units in 54 countries, even in faraway places as India. Their biggest customers have been schools.

Recently, BRCK raised $3 million in funding from investors to extend the reach of this amazing device. The entrepreneurs behind it will surely be smiling to the bank, after all the hardwork is done.

5) Education

Africa’s human talent is one of its most ignored and underexplored assets.

With one of the world’s youngest populations (over 50 percent of Africans are younger than 31), the continent is rich with creative and innovative talent. However, poor access to quality education is a serious threat to Africa’s human capital.

Currently, a couple of interesting businesses and initiatives are achieving remarkable successes as they tackle Africa’s education problems head-on.

Bridge Academies (in Kenya and East Africa) and Omega Schools (in Ghana and West Africa) have built an incredible education model of low-cost primary schools that allow pupils to pay as low as $1 a day as school fees.

Another interesting business on Africa’s education scene is Andela. Through its free and highly rigorous training program, Andela develops promising African talents into top class software developers who are hired out to the likes of Microsoft and other tech giants in the USA and Europe.

This interesting business model is called ‘talent-as-a-service’.

Andela recently attracted $10 million in investment and is on track to train 100,000 world class African software developers over ten years.

6) African Art

How much do you think African art is worth these days?

You’ll be surprised.

In November 2014, a collection of antique African art from Mali, Gabon, Congo and Liberia was sold in New York at Sotheby’s for a record-breaking price of $41 million. This is the largest ever sum realized from the sale of African art in the USA.

Not too long ago, a set of wooden sculptures by the Nigerian artist Ben Enwonwu sold in London for over $500,000, three times the expected price.

New World Map, the aluminium and copper sculpture of El Anatsui, the Ghanaian artist, sold for roughly $767,000, one of the highest prices ever fetched by the work of an indigenous African artist.

After decades of neglect, both antique and contemporary works of African art are attracting high prices in the world’s major art markets.

In 2017, more investors and collectors will be upping the demand for African art, and more millionaires will be made in the process.

7) Retail

In April 2016, the Mall of Africa opened in South Africa. This massive 131,000 square metres of retail space is the largest shopping mall in Africa ever to be built in one phase.

Recently, the Two Rivers mall opened in Nairobi, Kenya. It’s the largest shopping mall of its kind anywhere in East Africa.

Across the continent, both local and international supermarket brands like Shoprite, Game, Checkers, Woolworths, Edgars and Spar are expanding as they scramble for every inch of available space in shopping and retail infrastructure developments.

Interestingly, the battle for retail supremacy in Africa isn’t only happening in physical retail chains.

eCommerce giants like Konga and Jumia have grown quite impressively in the last few years. Both internet-based retail businesses now have a combined worth of over $1 billion.

In fact, the battle ground for Africa’s retail market is moving beyond the continent’s shores. New eCommerce entrants like Mall for Africa and Shop to my Door now make it possible for Africans to shop directly from retailers in the USA, UK and China.

Amazing!

Africa is now one of the fastest growing retail markets in the world. A large and growing middle class, increasing local spending power, and a boom in the number of expat workers are fueling the shopping trend on the continent.

8) Apps and Online Services

There’s a digital revolution taking over Africa. These days, many services now have an app or are going online. Africa’s digital economy is growing really fast.

These days, there’s almost an app or online service for anything you want.

If you’re looking for a suitable hotel accommodation in Nigeria, Hotels.ng and Jovago.com are now the biggest online services in the hotel booking business. Recently, Hotels.ng attracted an investment of $1.2 million.

If you want to watch African movies on the fly, there’s an app for that. IrokoTV is an app that gives you access to 5,000+ African movies on your mobile phone.

Recently, IrokoTV secured an additional $19 million in investment funding to expand its presence across Africa.

If you’d like to order bespoke furniture pieces without having to run after artisans or worry about quality, there’s an online service for that too. Showroom.ng is a Nigerian startup that’s changing how people buy furniture in Africa’s biggest economy.

In 2020, more apps and online services will launch across Africa to solve problems and provide value. And more millionaires will be made in the process.

9) Payment Solutions



Every year in Africa, over $100 billion in transactions are still done in cash. This presents a huge and lucrative financial services opportunity for savvy entrepreneurs.

Since M-Pesa was introduced in East Africa, the transformational mobile-based money transfer and payment service has proved to be phenomenal in Kenya and Tanzania, where the platform handles over 200 million person-to-person transactions every year.

In other parts of Africa, there is a huge scramble for Africa’s next big money transfer and payment service.

In Nigeria alone, several promising businesses are jostling to dominate Africa’s biggest economy. Some of the top contenders are Paga, PayAttitude, SimplePay and PayWithCapture.

Less than six months ago, Paga attracted a $13 million investment to expand its business within and outside Nigeria. It’s a huge bet that has the potential to really pay off.

Payment solutions will be a key area to watch in the coming years.

10) Real Estate

According to The Exchange Africa, the real estate market offers lucrative business opportunities and a goldmine for investors. With Africa's rising population, commercial and residential real estate demand continues to grow. In addition, accommodation shortage is a massive problem in Africa, and bridging the gap can make you a millionaire.

Consider investing in landed properties and real estate to maximize profits. You have a lucrative potential in building office spaces and low-income housing for rent, lease, or sale. Home-renovation flips, vacation rentals, and contract flipping are ways to benefit from the real estate market.

Africa’s real estate market is a multi-billion dollar opportunity, and several new millionaires will build their fortunes in this market.

In almost every corner of the continent, real estate projects are emerging. The biggest attractions are high-rise hotels and office buildings, residential homes and apartments, and shopping malls.

In Nigeria alone, there is a shortfall of 17 million housing units, with a funding requirement of $363 billion.

In Angola’s capital, Luanda, prime office rents are among the highest in the world at US$150 per sq metre per month.

In Mozambique, property prices at the sea ports, particularly for warehouses, are one of Africa’s most expensive.

The key markets for real estate on every investor’s agenda are Angola, Nigeria, Egypt, Mozambique, South Africa and Kenya. All of these countries are experiencing a real estate boom like never before in history.

Africa’s large and youthful population, an expanding middle class, increasing urbanization, influx of expatriates and multinational companies are the key drivers of demand for both commercial and residential real estate.
11) Startup financing

Investing in startup and early-stage businesses is on the rise globally, accounting for 67 percent of all venture capital (VC) funds in North America and increasing 19-fold in Europe.

Across Africa, start-up companies are attracting the interest of venture capital, private equity, social impact funds and angel investors who are looking for higher returns on invested capital.

In 2015 alone, the amount of capital invested in African startup businesses was roughly $0.5 billion. And in 2022, this figure is expected to double.

As Africa’s young entrepreneurs continue to come up with brilliant business ideas that have the potential to significantly disrupt both new and established markets, it’s almost impossible for investors to ignore the lure of attractive investment returns.
8 Money Habits That Will Keep You Poor Forever

8 Money Habits That Will Keep You Poor Forever

Bad money habits can trap you in a cycle of financial struggle, while good money habits can set you on the path to financial prosperity. It’s a simple principle, but mastering it requires discipline, knowledge, and a commitment to long-term financial health.

In order to provide security and a decent standard of living for you and your family, you need to break bad money habits. They can prevent you from reaching your financial goals and set you up for failure. Some habits, when left unchecked, could leave you stuck in a cycle of financial struggle. Let’s explore these habits and how to break free from them. Let’s look deeper at the ten money habits that can keep you broke.

1. Lack Of Spending Discipline

One of the biggest culprits that keep people broke is a lack of spending discipline. It’s like a leaky bucket—you earn, but the money slips through holes of unnecessary expenses. Consider an individual who splurges on gourmet coffee every morning. What seems like a harmless $5 treat totals up to $150 per month, $1,800 per year. Conversely, brewing coffee at home could cost pennies daily, freeing up funds for more important financial goals. You get several bad spending habits that are not in your budget, and your money will melt away.

2. USING YOUR EMERGENCY FUND FOR NON-EMERGENCIES

Emergencies are those life and death situations that can alter your life forever ​​if you’re unprepared. You can’t protect yourself and your finances if you keep dipping into your emergency fund. Once you start an emergency fund, make regular contributions to it and don’t touch it unless it’s an emergency.

3. You’re Not Paying Yourself First

A typical money trap is paying everyone else—landlords, credit card companies, utility providers—before paying yourself. This habit leaves little for savings or investments. The individual who follows this pattern often lives paycheck to paycheck, struggling to build wealth. Aim to save or invest a portion of your income before you pay your bills. It might be challenging initially, but you’ll thank yourself later. Ultimately, it would be best to work for yourself, not bill collectors. Put your name at the top of your budget to pay first.

This poor spending decision can add up quickly and cause you to run out of money fast. The more you spend on non-essential items, the less money you have left for essential items. No matter how great they sound, avoid all discounts, sales, special offers, and rewards. Before you purchase anything, take a moment or 24 hours to think about how much you need or want this item.

Impulsive buying is a fast track to an empty bank account. The thrill of a sale or the desire for instant gratification can lead to purchases you don’t need or can’t afford. If you’re buying a new pair of shoes every month, consider whether it’s necessary or a want. Instead, save for long-term value or invest that money for a higher return.

4. Selling Your Time For Money Is Your Only Income

If your only income comes from selling your time—a salaried job or hourly work—you’re caught in a cycle that limits your earning potential. There are only 24 hours in a day, after all. Consider building passive income streams, like websites, YouTube channels, or online businesses, which could generate money while you sleep.

Cultivate spending discipline and avoid unnecessary expenses.
Improve your skills and seek opportunities to increase your income.
Show dedication and hard work at your job to boost your earning potential
Acquire financial literacy to understand how to make your money work for you.
Prioritize paying yourself first to build savings and investments.
Curb impulsive buying and focus on long-term value.

Surround yourself with financially secure individuals for positive influence.
Seek passive income opportunities to break free from trading time for money.

5. Lack Of Financial Literacy

Financial literacy is critical. It’s not just about earning and saving money but understanding how to make it work. A person who isn’t financially literate might save, but without investing, they lose the potential for compound growth. Start reading financial books and blogs, and consider speaking with a financial advisor. Knowledge is power, especially when it comes to money.
Not keeping a record of your money

This ties in with the concept of budgeting.

If you don’t know where your money goes and how much your bills are, and who they are payable to, how can you possibly keep on top of your finances?

The reality is, many are aware of their major expenditures, but the smaller ones slip through the cracks and end up eating away at our finances. By keeping track of your finances and writing down exactly how much you need to pay, and to who, can help you budget for the rest. Also, by keeping a close eye on your money ensures that if there is fraudulent activity on your account, it's identified and dealt with straight away. 


6. NOT SAVING EVEN WHEN YOU CAN AFFORD TO


Failing to prepare for unexpected events is one of the most common bad money habits to break. Paying yourself first by saving money before you spend any money is the best way to protect your finances and reach your goals.

The difference between poor people and self-made millionaires is that the latter make a habit of saving regularly. After all, the more you can save at an early age, the more wealth you’ll accumulate. So whether you’re saving a rainy day fund, for retirement or for a big ticket item, it needs to start today.

After you’ve set a budget and begun to track your spending each month, you should start to put money away each month towards an emergency fund.  Most financial experts recommend that you save between three and six months worth of expenses in an emergency fund so that you have something to fall back on should an unexpected bill pop up.

Once you’ve established a budget and stashed away some money for an emergency fund, your next focus should be saving for retirement. 

Whether that is salary sacrifice, paying off your mortgage early or investing in property, the long-term goal should be how you plan to pay for your retirement when the time comes.

By automating your savings, you can save more without even thinking about it. Don’t wait to “have more” before you start saving. No matter how tight your current budget is, you can always find ways to trim your expenses.

7. Living beyond your means

It’s a simple bad money habit, and also one that many of us do. If you’ve sat down and worked out a budget, put money for bills and general living costs aside and don’t have anything left for food, you’re living way beyond your means.

Or maybe you live paycheck-to-paycheck, live off credit, continually exceed your budget, buy impulsively or daily to save?  Or all of them?

You’re spending more than you earn. Living beyond your means immediately puts your finances at risk by increasing debt, not having enough for bills, and not being able to save any money. This is a fast-track way to being, or staying, poor.

8. Lack Of Earning Power

Next up is a lack of earning power. Sticking to a low-paying job or not seeking opportunities to increase your income means you’re likely to stay broke. It’s a harsh truth, but money often flows towards skills and value. If you’re not improving your skills, you’re not increasing your value, and you’ll find it hard to earn more. A diligent approach to continuous learning and career growth could help escape this vicious cycle. You must raise your value to employers through skills, knowledge, experience, responsibilities, and education to increase your earnings power.

It can be tempting to hike up the budget, or even throw it out the window altogether, when your pay goes up, especially if it's a substantial increase to your income. Sure, there is no harm in raising your standard of life when you can, or treating yourself once in a while, but constantly raising your budget and spending can see you run out of money just as fast, even if your income has risen along with it.

It’s important to keep expenses and spending at a constant level while looking for ways to increase your income or gain a passive income to help boost your overall wealth. Financial success means different things to different people. It might mean achieving millionaire status, owning your own home, or even living debt free.

The trick to financial success is being able to manage your money… and that’s where your good or bad habits can play a vital role. The lesson from all this is to spend less than you earn, save the difference and when you have sufficient saved, start investing.

Planning your future, budgeting for the present and staying on top of your finances will allow anyone with any income to reach the ultimate goal of financial freedom.

Not only will you have a nest egg to fall back on if an unexpected expense comes your way, you can also grow your financial freedom and even build the retirement lifestyle of your dreams.

One of the key ways to build real wealth is to invest…
List of African Countries that Can Send and Receive Money with PayPal

List of African Countries that Can Send and Receive Money with PayPal

Since the company’s expansion to Africa, it has maintained a one-sided relationship with most countries on the continent, allowing them only to send money. And according to its website, only 12 African countries can send and receive money on the platform, but to varying degrees. They include Algeria, Botswana, Egypt, Kenya, Lesotho, Malawi, Mauritius, Morocco, Mozambique, Senegal, Seychelles and South Africa.
Price

An account is free to open. There is $0 cost for opening an account but you will be charged some fees for sending funds to business accounts, receiving funds, and withdrawing to a bank account or bank card. Sending and/or receiving to Personal account within the same country are free.
PayPal South Africa

PayPal users in South Africa has some of the richest experience in Africa. Users can open Personal or Business accounts; can Send, Receive and/or withdraw via FNB.

Note: Par Forex regulations, users in South Africa are legally required to withdraw all received funds to a bank account, and then spend from a bank card if/when necessary.

Withdraw

Once you have a PayPal account, withdrawing through FNB does not require an FNB bank account. You only need an FNB profile. Simply register for the FNB Online Banking profile, and withdraw money to any South African bank account.

Withdraw in USD

It is possible to withdraw your PayPal funds into an FNB Business Global (CFC) account, effectively allowing you to make foreign payments in US Dollars. This helps lower the risk and cost incurred with exchange rate fluctuations and double conversion. Customers must be registered for the FNB PayPal service and would need to contact FNB for assistance with enabling this option.

Do note that this USD withdrawal feature requires a minimum transaction amount of $5,000 and is only available for businesses, not individuals. EUR and GBP Global accounts are not supported; it is only available to FNB USD denominated Global (CFC) accounts. Other terms apply, as would be specified by FNB.

Spending

Aside from the ability to spend directly from your Credit or Debit Visa or Mastercard linked to the PayPal account, you have the added convenience of topping-up from your South African Rands if you bank with FNB.

The FNB Top-up Service allows you to top up funds from your qualifying FNB ZAR account to your linked PayPal account to shop online or make payments with PayPal. The Top-up service is only available to FNB customers. A Top-up takes less than 10 minutes to reflect in your PayPal account. Do note that USD/ZAR forex rates would apply to this transaction.

PayPal Nigeria

Residents of Nigeria have more limited access to PayPal. Local users can only send money on Personal accounts, not receive. They cannot maintain a balance and can only spend from their verified/linked Visa or Mastercard credit or debit card.

Business Accounts can receive money but only through a website. The PayPal account would need to be configured on an online shopping cart.

While First Bank Nigeria appears to be the local banking partner, there is no meaningful effect of this considering there is no formal withdrawal service in Nigeria.

PayPal Mauritius

Any resident of Mauritius who is over 18 years old having a personal Mauritius Commercial Bank (MCB) Current or Savings Account and registered to the Juice app can use PayPal services on Juice. Only Mauritian PayPal accounts are eligible for this service.

It is available to both individual customers and online sellers having an MCB account with access to MCB’s Juice app.

MCB offers a top-up service and withdrawal options for PayPal users. MCB will convert your withdrawal funds from USD to MUR and your Top-up/Send money from MUR to USD according to bank’s daily conversion rate. A withdrawal from a PayPal account takes a maximum of 3 business days to reflect in your linked MCB Savings or Current account.

PayPal Kenya

PayPal partners Equity Bank in Kenya for residents of Kenya to withdraw their money locally. The Equity Bank Withdraw Service is exclusive to Equity Bank and enables PayPal account holders to withdraw funds paid into their PayPal accounts through Equity Bank. The service is available to customers with an Equity Bank account. Funds can be withdrawn from PayPal to Equity Bank transactional accounts in KES, USD, GBP, or EUR, excluding credit cards.

When performing a withdraw transaction Equity Bank will verify your Equity Bank and personal details and you will be redirected to PayPal to confirm the withdraw transaction. A withdrawal takes 3 business days to reflect in your Equity Bank account.

It is important that the e-mail address on your Equity Bank Account and PayPal Account is the same.

PayPal Ghana

As of January 2020, PayPal is not available to residents of Ghana in any shape or form. While there has been a lot of speculation over the years regarding a potential entry into the West African country, there is no sound evidence as of when or if it would be available.

PayPal Botswana

PayPal partners FNB in Botswana for funds withdrawal. The FNB Withdraw Service with PayPal allows you to withdraw funds paid into your verified PayPal account to your qualifying FNB Bank account. The Withdraw Service is exclusive to FNB customers in Botswana and is available to both individual and business customers.

If your account contains funds in a different currency, PayPal will auto-convert those funds into US Dollars during the withdrawal process. FNB has a $10,000 USD limit per transaction. The Botswana Pula is currently not an available currency on PayPal but when you withdraw your money it will be converted by FNB into Pula according to the banks daily conversion rate and settled into the linked FNB bank account. FNB charges 1.5% of the US Dollar (USD) amount per withdrawn transaction. A successful withdrawal will take 5-8 business days to appear on your bank account balance.

Other Countries

The following other African countries can send and receive.
  • Egypt – users only withdraw to an Egyptian Visa card or US bank account
  • Algeria – users can only withdraw to an Algerian Visa card or US bank account
  • Reunion
  • Lesotho
  • Malawi
  • Morocco
  • Mozambique
For countries not supported you should consider bank transfer and cash on arrival.

Countries currently not supported are (no liability assumed):
  • Antarctica
  • Afghanistan
  • Cote D'ivoire
  • Cuba
  • Belarus
  • Bouvet Island
  • British Indian Ocean Territory
  • Cameroon
  • Central African Republic
  • Christmas Island
  • Equatorial Guinea
  • Haiti
  • Heard Island and Mcdonald Islands
  • Iran
  • Iraq
  • North Korea
  • Laos
  • Lebanon
  • Liberia
  • Libya
  • Myanmar
  • Nigeria
  • Pakistan
  • Papua New Guinea
  • Serbia and Montenegro
  • Sudan
  • Syria
  • Turkey
  • Zimbabwe
Another option to receive card payments from (nearly) anywhere is Stripe.

While it is theoretically possible for anyone anywhere to open a PayPal account in a country that has a fuller experience like US, UK, Canada, Singapore etc, such accounts are very difficult to maintain and you have a high risk of losing your money when they freeze the account, demanding legal documentation to prove you are a legal resident of the said country.
How to Start Recharge Card Printing Business in Nigeria

How to Start Recharge Card Printing Business in Nigeria

Many people are constantly searching for new and fresh ways to earn money online. The recharge card printing business has been really profitable to a lot of people recently, but of course, you will need to know some specifics in order to start such a business. So, how can you start a recharge card printing business in Nigeria?

Like we all know that recharge card printing and selling is one business that doesn't have a season. It is an ALL-SEASON lucrative venture that has undoubtedly and positively changed the financial state of many people in Nigeria.

Unlike before, starting this business is now as easy as pie. You can do it as a full-time job or a part-time depending on how you wish.

Is Card Printing Profitable?

Mobile Marketing Business (MMB) has proffered numerous money-making opportunities (MMO) and many ways to legitimately make money online in Nigeria. Interestingly, the Recharge Card Business on different Mobile Networks, which brings in billions per day by current statistics, is one of them.

It promptly followed the Oil & Gas sector as the fastest revenue income in Nigeria's telecoms sector.

Now, how do you get involved and have your share of this lucrative business without having a colossal capital? Unlike in the past, when you will need a considerable investment.

Unlike other companies you will need to buy a recharge card printing software or machines for as high as ₦70,000. At the same time, you will also need to attend special training or seminars where you may ask to pay as much as ₦25,000 even before you start purchasing airtime.

Many potential entrepreneurs would like to know about the advantages of recharge card business.

The primary advantage is that people recharge their phones every day because they need to make calls and send messages, so they will definitely buy a lot of cards. This means that the business can be profitable as long as you have customers. Attracting the customer base requires a lot of hard work, and you will also need to develop some strategic thinking.

If everything is done right, the recharge card business can bring a lot of profit. Now, we will give you some detailed information about starting your business in the recharge card printing sphere.

Here is a guide that will help you learn how to start recharge card business. As with any business, you will need a recharge card printing business plan that will outline the specifics of your business.

Next, you will need the pin codes that will be printed on the vouchers. Usually, you can get them from major dealers, who will sell them to you for a reduced price. Most often, the pins are sent via e-mail, so you can easily try to find a dealer online.

However, you should always triple-check their reliability before registering with them. Once you register, you will have to provide proof of your identity and purchase a minimal amount of pins.

The payment for your pin codes has to be done through the bank. The dealer will provide you with the bank account where you have to transfer money. Afterward, you will get an e-mail with the pin codes that you have purchased.

It is strongly recommended that you access them on your personal computer and not on a public computer, especially if there is a chance that you will forget to log out afterward. If you are working with a local dealer, they can provide you with the pins by meeting up with you and giving you a CD or flash drive.

What you need for the printing recharge card business

You will not need a lot of special tools for this business. You should only make sure that you have the following:

  • A working laptop or computer with a stable internet connection.
  • Valid e-mail address.
  • Recharge card printing machine.-printing press
  • A3/A4 paper for printing out the recharge cards.
  • Software for de-encrypting the pin codes which are sent to you.
  • Starting capital.

In case you are confused about printing your cards, you should not worry – there are a few options that would be perfect for you. You can print your pin codes online, use special software, or the e-pin manager.

If you are unable to afford the expensive computers or printing press, you can receive a special device from a major card dealer which will allow you to print out your vouchers.

Internet connection will not be necessary for printing out cards but is crucial for your business because if you are dealing with someone who is far away from you, you will need the Internet to keep in touch with them.

How to print recharge cards

So, here are all the above steps, but summarized for your convenience. To start your recharge card printing business, you will have to:

  1. Use a laptop or computer with a good internet connection.
  2. Contact the mega-dealer who will send you the software.
  3. Download their software and install it on your laptop.
  4. Order the recharge card pin codes on their website and pay for them.
  5. You will receive some encrypted pin codes. They can be only de-encrypted with the help of the software that was sent to you.
  6. Now, use the recharge card printing software to de-encrypt the codes and then print them out for sale.

Everyone with a phone needs to make calls, and for that, they need their phone to be loaded with funds. If you have the primary tools for recharge card production, good starting capital, and reliable partners, then the recharge card printing business could bring you money in no time. We wish you luck and prosperity.

Kindly note that you can use the software or portal to add your business name to the recharge cards you print.

20 Best Profitable Low Investment Business Ideas Under 10k Budget

20 Best Profitable Low Investment Business Ideas Under 10k Budget

There has been a fast increase in the number of youth's who are in search of business ideas in around the world with low investment. They have all the potential and abilities to turn into aspiring entrepreneurs, ready to change the face of economy. Yet, most of the times these talented youth do not have enough capital to kick-start a flourishing business. Hence, here are the top 20 business ideas that you can start with a low investment.

1. Social Media Management Services

In the current scenario, social media has redefined how business functions. Companies are frantically looking for reliable social media handles to manage their advertising through digital marketing. A good social media service provider is one who targets potential digital users and audience through clever storytelling and promotional techniques.

The market is flooded with Social Media apps and the numbers are only expected to increase. To become a successful Social Media provider, along with a unique idea to bring more business, you need an ability to pick up the trends and roll with it quickly. The startup cost involves minimal cost depending on your scalability. While you can hire a few people to create and curate content, manage social media accounts, this idea requires the least resources. However, one needs to be on their toes to learn new hacks and techniques as there’s always something new coming on Facebook or Instagram Marketing. The info graph on social media clearly makes it one of the best business ideas around the world with low investment.

2. Blogging

Blogging is a minimum startup business that can be extremely profitable. Over the last few decades, companies are in a hunt for bloggers who help them to create a web-based platform for their business and reach to a global audience through the means of online posts and contents. In this era of the digital age, blogging has evolved to become the backbone for successful businesses and bloggers are looked upon as online influencers.

Blogging is a great startup idea that earns you income as well as respect. If you have the keenness to write, a quest for reading and a dedication to never give up, you have the perfect ingredients to become a good blogger. There are countless free blogging guides available online, to help beginners create impactful blogs. With an initial cost of investing in a hosting space and domain name, you are geared up to succeed in one of the most lucrative business ideas.

3. Travel Agency

Travel Industry is at its peak. While the desire for ‘wanderlust’ is umpteen, there are never enough resources for meticulous packing. So if you have a fervour for travelling, this profession can make you rich. Like a good travel agent, you must be able to plan a great itinerary for clients that offer superb arrangements in the most pocket-friendly way.

There is no initial startup cost for opening a travel agency, other than getting a high-speed internet connection. Your job might also require you to function as a tour guide for your clients and travel with them to breathtaking locales around the world. Isn’t it exciting enough to get started?

4. Photography

Photography is a business in itself. A photographer is always in demand in personal as well as professional life. Whether there is a corporate seminar, wedding functions, promotions, book launches or exhibitions, it is important to be clicked. If you have a passion for photography, then it is the right field for you to invest your time and energy.

The initial cost in this startup business is buying a good digital camera, good pair of lenses, a tool that can help you easily convert pictures to videos, and a tripod stand if needed for your business. You can either choose to work as a freelance photographer or tie-up with reputed photography organizations.

5. Tiffin Service

Tiffin Service has turned out to be a profitable startup with low investment, especially for women. The ‘eating out’ trend has been replaced with ‘eating in’. And whilst most of the young people are working, the demand for tiffin service has increased manifold. People are willing to pay well for healthy tiffin service.

Tiffin service requires no startup cost as it can begin right from your home using the ingredients in your kitchen shelf. A right mix of taste and healthy ingredients can turn it into a highly profitable business.

6. Fruit Juice Kiosk 

The urban crowd is becoming more conscious of what they eat and drink. Staying fit and healthy is a top priority now and this turned the idea of opening a fruit juice kiosk into one of the most successful business ideas. Nothing can be more refreshing than a glass of fresh fruit juice on a sultry summer afternoon.

There has been a rapid increase in the number of fruit juice kiosk popping up in metropolitan cities across the world. To open a kiosk, you first need to seek a permit in your chosen locality and rent a small space. Other than the monthly rent you only need to invest in the purchase of raw materials and basic supplies for the kiosk.

7. Online Fitness Instructors

In the 21st century, being fit is highly crucial. While most of us desire to stay healthy, there is never enough time to visit a gymnasium or attend fitness classes. Wouldn’t it be convenient to have someone visit your home to help you get in shape or get fitness classes online, any time of the day? That’s exactly what an online fitness instructor does for clients.

Becoming an online fitness instructor is a new rage today. If you are a fitness freak, you simply need to upload your fitness tutorials on social media and get people following you there. If you are good at your work you can easily make a strong online presence and become a great fitness instructor without renting any studio space.

8. Event Management

The ‘big fat weddings’ around the world have made event management one of the most profitable business ideas with low investment. Planning an event, either on a professional or personal scale requires looking after minute details to make it super successful. Event hosts mostly do not have the time for execution and hire event managers to take charge of the situation.

Panache for creativity and the right networking can take you places in the event management business without making a big investment.

9. Tuition and Coaching Centres

This is another lucrative business option for those with capital constraints. Tuitions classes or coaching centres can begin right from your home, eliminating the need for any rented space. The classes can be taken individually or in larger groups. With a strong knowledge in the field, you excel will help to spread your popularity by word-of-mouth.

Slowly, as the business grows you can hire professionals in other fields and start working from a rented place.

10. Food Trucks

The concept of healthy food on wheels is working well in the urban cities. Food trucks are the new-age ‘thellas’ that serves hot, delicious and healthy food. These mobile eating joints present you with delectable cuisines from around the world at a fairly reasonable price. The USP of food trucks is their mobility.

You can conveniently park them outside the school during the afternoon and later travel to office areas during the late evening. Opening your food trucks is an ideal business startup if you have a budget of 10k. With no real-estate investments required, you only need a functional truck, basic equipment and few staffs to get your business kick-started. The current trend in the economy makes it an ideal ground for ambitious entrepreneurs. These remarkable startup ideas with only 10,000 budget will enable newbies to turn into flourishing entrepreneurs. These low investment business ideas prove that capital can never be a roadblock on your journey to achieve BIG in life!

11. DIY Home Decor & Crafts 

Ever paid attention to the Socially Useful Productive Work (SUPW) sessions at school? Well, if you did and are creative enough to turn junk into marvellous art pieces, then this won’t cost you more than few pennies. And to the world around, they sell like hot cakes for home decor purposes and landscaping.

Such quirky pieces made of unconventional ideas amuse people from all walks of life. If you have a tint of creativity and a gang of the like-minded workforce, you can come up with such projects on an experimental basis initially. For which you won’t require much money to be put in, and if your ideas appease some of the people around then you can go about monetizing the venture at large.

12. Backyard/Garden Landscaping Expert

There are a host of backyard/ garden landscaping ideas available online. If you dig in deeper, you would come across free tutorials to understand the aesthetic requirements of any space as well. So all you need to do is come up with something similar at your place and for which you won’t need to shell out a fortune as well.

For there are a number of flea markets and recycled goods stores present in major cities. You can also upcycle old furniture to come up with mix and match styles of decor. Once you’re done posing across the newly landscaped backyard or garden of yours, just post it online for marketing it across. And don’t go anywhere but your existing social media handles to showcase your work. When you’ve successfully created a buzz around your newly acquired skills, it will be time to cash things in by taking up projects. Over which you won’t need to spend a single penny, take cuts from margins in furniture or decor items, over the usual consultation fee you may charge for your expertise.

13. Youtube Cooking Tutorials

Our mothers have always been the best cooks ever. We always wonder how they cook delicious food so effortlessly and within no time. Coming up with these quick recipes and vlogging them are quite popular among the YouTube community. One of the easiest low investment business ideas, becoming a YouTuber is not just about recognition.

A number of proficient users have been able to monetize it as well. Coming up with such a channel would open new horizons in this field. People are often approached by larger marketing hubs for content distributional purposes, which in turn yield revenue for these individuals as well.

14. Custom Gift Shop

Receiving a gift will make anyone happy regardless of the amount, and a personally customized one will leave a deep impression on your loved ones. With the onset of technological advancements in today’s world, it is possible to customize almost anything. Hence, the customization business is booming. One of the most original concepts is opening a gift shop. Giving customers what they require will undoubtedly help your business and boost revenues.

15. Yoga Classes

The wellness sector is expanding. People want to take time for themselves and find calm in today’s fast-paced world. With just a small investment, you can start yoga lessons at home and teach others how to lead healthy lives. You can also rent a studio or a community centre and teach yoga to the people gathered there. As most people enjoy doing things in groups, they would motivate each other to keep continuing with their lessons.

16. Freelance Software Development

If you are interested in software engineering and have good coding skills, then look no further and simply start software development. There are many businesses that are switching online and in need of new software as per their demands.

To start a software development business, all you need are clients. Look for potential clients who are in need of your services and deliver the work accordingly. Initially, you can develop the software for your clients from home, and you don’t even need any equipment except for your laptop and WiFi.

When you get enough clients, you can hire people who are specialised in software development to help grow your business.

17. Landscaping

If you are someone who has a love for nature and has enough creativity, then landscaping is the right business for you. Now days, government around the world are now turning many remote places into tourist spots, and the demand for landscaping at these places is extremely high.

To turn the existing plain land into creative land by adding colourful plants, trees, living items, and other types of attractive gardening items is known as “landscaping.”

When many remote places are declared tourist spots, a lot of hotels, restaurants, and sight-seeing places boom, and all these places require landscaping. As a result, if you have enough creative gardening skills, you can start a landscaping business.

18. Lawn Care

The lawn care business is one of the booming ones. All you have to do is purchase the right equipment to get started with lawn care. Many high-end hotels maintain lawns but do not have in-house staff to manage them. Hence, from time to time, they outsource the lawncare services, and you can grab this opportunity.

You can have an agreement with your clients to offer your services regularly and earn a good profit through your lawn care business.

19. Pet Sitting

It’s no surprise that pets are treated like children, siblings, grandchildren, and even their closest family members. However, these people are always too busy to spend enough time with their pets due to their busy schedules, so they require an expert to take care of them and spend time with them.

Hence, starting a pet sitting business is not bad, and you can make a decent amount of money through it. All you have to do is identify the clients who are in need of these pet-sitting services and start engaging with them.

20. Tea Stall

One of the most consumed beverages around the world is tea. The love for tea is unimaginable. Thus, starting a tea stall out of offices is the best idea. Employees love to grab tea breaks to detox their stress, and hence take at least 3 to 4 tea breaks on an average day.

The best part about the tea business is that you will start making money right away.

What are some of the 10K business ideas?

The top 10 business ideas are drop shipping and YouTube. You will need a website to sell the sellers’ products when drop shipping. Whereas through YouTube, you can make trending videos and videos on the topics that users will be interested in, and that’s it; you can start earning the money.

What are the best low-investment businesses? 

A few of the best low-investment businesses are: 
  1. Travel Agency
  2. Photography 
  3. Social Media Management Services 
  4. Tiffin Service 
  5. Fruit Juice Kiosk Business in India 
  6. Candle Making 
  7. Fast Food Parlor 
What is the most low-budget business to start? 

Some very low-budget business ideas are: 
  1. Content Creation 
  2. Online tutoring 
  3. Event Planning 
  4. Youtube Cooking Tutorials
With so many potential businesses to start with $10K or less, you're sure to find something that suits you. But starting a business also requires a lot of your time. To make your life a little easier, try automating your processes with some of the online tools so you can focus your energy on growing your business.