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KUSNAP ECOMMERCE, 2 YEARS IN THE GAME; HOW WE’VE SUSTAINED OUR BUSINESS SO FAR

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KUSNAP E-COMMERCE, 2 YEARS IN THE GAME; HOW WE'VE SUSTAINED OUR BUSINESS SO FAR

KUSNAP E-COMMERCE, 2 YEARS IN THE GAME; HOW WE’VE SUSTAINED OUR BUSINESS SO FAR

Running a business is never the easiest, especially when you do not have the luxury of being the first in that niche in that region. And this was the case with Kusnap before it launched in Nigeria. However, Kusnap has held a reputation for being a free-online marketplace in Nigeria for the past two years, and we are heading to more years.

Before launching in Nigeria, we did our due diligence, and one thing that scared us was public acceptance. So, here we were, about to launch as an online e-commerce platform, but others already existed, and we knew that our competitors had many lovers.

Yet, we went ahead against all odds. It hasn’t been easy, but we kept pushing, and here we are celebrating two years.

People have been asking what we did differently that helped us not quiver to our customers and still attract our target audience. To us, we haven’t been doing anything out of the norm. But we concur that for us to have stayed strong, we have been doing something right.

KUSNAP E-COMMERCE, 2 YEARS IN THE GAME; HOW WE'VE SUSTAINED OUR BUSINESS SO FAR

So, let’s take a look at some of the things we’ve been doing:

 

  • Taking risk:

 

It didn’t seem like the right decision to launch in the Nigerian market at the time we did. From our research, Nigerians are usually resistant to new products as they love sticking with brands they know. And our competitors were already household names amongst our target audience.

But we did not deter. After all, we didn’t come with the mindset that we would be the only ones in the game. We already expected some stumbling blocks, and this was one of them.

Some concerned people shared their worries about our brand launch, and there were deliberations on whether we should change our product’s framework or go and launch in another country. But what is life without risks?

We decided to go ahead with the launch and see how it would turn out. The worst would be that people ignore us, and we would devise another strategy.

But to our surprise, people began to notice us and welcomed our brand. Soon, vendors began displaying their products on our site, and buyers began using our website to check for products.

We monitored progress for a year, and it beat our expectations. Now, what would have happened if we had not taken the risk?

 

  • Making the website user-friendly:

We would not say that we did this immediately, but it was something we kept working on over the years to ensure that we do not lose our users.

We noticed that our audience did not like stress, and we are sure that this also applies to most target audiences worldwide. So, once it seems like a website is challenging to navigate, they will exit without wasting time, and we did not want such to occur. So, the idea is to have an easy-to-navigate and working website so people can be hooked as they surf through our website.

As a brand that just launched, we had website issues for some time. Our website seemed that to take much time to load at one point despite all efforts deployed. But our team did not give up. With all hands on deck, we could solve this issue in no time.

Our website now has a quick response rate, and everything is easy to navigate and also appealing to the eyes. If you do not make your website user-friendly, you will likely lose your target audience as no one likes stress.

  • Relatability

 

Another thing that has kept us in business so far is the relatability of our platform. When people come on our platform, they are sure that what they see is what they will get. We usually encourage our vendors to post clear and original images of their products as we do not want to deceive customers. If a customer was meant to buy what you sell, they would still buy it.

People can relate to the items on our site, and we also give them the ease and chance to communicate directly with the vendors. The goal of our website is to link vendors and buyers. So, our platform is a linking bridge for both parties.

Although we plan to launch digital means of payment on our website, it isn’t live yet. But the fact that the customers can relate with vendors and pay directly to them is something we see has worked and has endeared people.

Our customer service is also always accessible to our audience, and we ensure to help out with every complaint and issue. We understand that we exist because of our customers, and we do not joke about this fact.

  • Using the best technology

 

High quality is one of the things we have never joked about since our product launch. We’ve always believed that the quality of our platform would speak for us, and we haven’t been wrong so far.

The making of Kusnap was based on the latest technology, and we keep ensuring that we use the best technology to improve our product and businesses.

Our goal is to ensure that our standards never drop. Our customers are already used to receiving our high and best standards and practices. And we want them to continue enjoying such top standards. So we never want a situation where people begin to complain that our standards have dropped.

Instead, we want the bragging rights that we have spoiled our users with the best quality, and they can never settle for less. It hasn’t been easy to keep up with this practice, but we will keep forging ahead, as is our goal.  

  • People resources

We can brag that we have the best team at Kusnap, and we await to see who wants to compete with us. The people resources of any organization are always crucial as these people are what enable and drive your products.

‘Kusnap’s team is made up of people of competence. People who do not compromise on standards are always ready to give their all to ensure efficiency. The team’s dedication is one of the things that has kept us going strong so far. We love that even in downtimes, the team always fosters ahead to find a solution as we try to motivate ourselves.

Kusnap started as a dream, and this dream wouldn’t have been accomplished without the team. After all, teamwork makes the dream work.

We believe that we have some of the best talents and are holding on to them as we understand their value. Of course, our people resources are one of our top bragging rights.

 

  • Taking user feedback

 

So, we built Kusnap as a platform that serves as a bridge between vendors and customers. Is this a good initiative? Yes. Will people have thoughts and criticisms about it? Yes.

You’re mistaken if you ever think you would build a solution that would please everyone. And with this in mind, we are always open to receiving feedback and constructively infusing it into the solutions we are building.

It also helped that we always put ourselves in the user’s shoes whenever coming up with solutions. After all, the solution aims to meet the needs of the user. So, we ensure to put away sentiments and work with what the user wants.

The customer and user are the core of our business, and they are what keep us going. We are two years stronger and will have more stories to tell as the years go by.

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BUSINESS

Enlumi launches Next-Gen business management platform – Lumi Business to help businesses streamline key operations

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Enlumi launches Next-Gen business management platform – Lumi Business to help businesses streamline key operations

Enlumi launches Next-Gen business management platform – Lumi Business to help businesses streamline key operations

Enlumi, headquartered in Lagos has announced the launch of its B2B product—Lumi Business. The platform offers a comprehensive array of solutions, including but not limited to Point of Sale, Inventory Management, Accounting, Expense Management, Loyalty Management and analytics.

Enlumi launches Next-Gen business management platform – Lumi Business to help businesses streamline key operations

As a retail business in Nigeria it’s long been believed that having a modern payment collection device is enough to run the business and the rest is left to chance, instinct, or clunky, outdated softwares and tools. However, to thrive in the market, businesses need much more. Business owners frequently struggle with inventory-related challenges such as surplus, slow-moving stock, expired items, stockouts of high-demand products, and employee theft, all of which can result in revenue loss or tied-up business capital.

Lumi Business is tailored to tackle the inventory requirements of businesses, irrespective of their size, stock quantity, or staff strength. It efficiently simplifies sales tracking, expenses, and facilitates the management of customers, products, services, raw materials, ingredients, and recipes. By leveraging the Lumi Business platform, business owners gain access to data-driven insights that inform decision-making, thereby enhancing sales and maximizing overall business profitability.

Wait there’s more! Lumi Business has a cloud-based multi-store management system, which enables business owners to exert full control over their operations from any location worldwide, using any device. Its storefront feature allows business owners to start up virtual stores and sell online. This capability allows them to monitor stock movements effectively and mitigate issues such as employee theft, lost products, and wastage.

Over 300 SMEs in Nigeria trust Lumi Business to manage their day to day operations, particularly due to its robust features and user-friendly interface. The company looks forward to growing its reach and capabilities as it actively pursues partnerships with other platforms serving SMEs.

Speaking on the launch, Wale Adeniji, Enlumi Data’s CEO said “We firmly disagree with the notion that Nigerian business owners aren’t ready for more than basic payment collection tools.

We’ve seen that businesses in Nigeria are ready for more advanced solutions, they just need to be delivered the right way. We’re focused on building a business management solution that Nigerian businesses are crying out for, addressing a myriad of pain points all at once”. Click here to learn more about Lumi Business or visit www.lumibusiness.io

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BUSINESS

Rhebuch: Best Place To Buy Quality And Affordable Security Surveillance Cameras In Nigeria

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Best Place To Buy Quality And Affordable Security Surveillance Cameras In Nigeria

Rhebuch: Best Place To Buy Quality And Affordable Security Surveillance Cameras In Nigeria

 

The world is already going digital with the spate of innovations that are constantly released to drive convenience and comfort. It often comes with the sense that technology is the present scope shaping the future. There are many tech products in homes, offices, and other places today, with respective designs to serve relative purposes for human causes. This is because of how effective and efficient they are in making life easy for us as a people.

Best Place To Buy Quality And Affordable Security Surveillance Cameras In Nigeria

Meanwhile, it is common knowledge that security is a serious business – concerning the safety of lives and property. As such, adopting technology takes cognizance of this through developing tools or gadgets capable of improving security across space and time. One such piece of equipment is the security surveillance cameras- designed to give real-time information about happenings around the vicinity of the installation. Although these have been around for quite some time, their relevance to enhancing security and safety has not waned, especially as they continue to improve.

 

Nigerians are not new to using security surveillance cameras, as you can find them at homes, offices, shopping centers, religious centers, banks, estates, streets, etc. But while some people believe the cost of acquiring these gadgets is expensive, others are skeptical of their effectiveness – both untrue. Rhebuch is changing this age-long narrative by providing quality and affordable security surveillance cameras to Nigerians.

 

What Is Rhebuch?

 

Rhebuch is a technological company that is a multi-brand distributor of smart homes, video surveillance, fire alarms, access control, smart lighting systems, and many more. Therefore, it is your one-stop shop to buy all automation systems for your home or office. This company is reputed for providing the latest global standard equipment to foster the safety and security of lives and property in Nigeria.

 

There are CCTV cameras of different brands on Rhebuch – some of which include DAHUA 4HDD EPoE, DAHUA 24-port Unmanaged PoE switch, DAHUA 8MP IR fixed-focal dome network camera, Hikvision fixed dome network camera, DAHUA unmanaged desktop switch, etc.

 

Therefore, Rhebuch is the leading place to buy your security surveillance cameras, as there are many benefits from shopping on this platform.

 

Benefits Of Shopping For Security Surveillance Cameras On Rhebuch

 

1. Affordable And Quality Cameras

 

Rhebuch operates in sync with its mission of providing its customers with the best and latest gadgets in the marketplace – which it still upholds. As such, this platform is where affordability and quality melt, such that you purchase original security surveillance cameras at the best prices that are relatively lower than its competitors.

 

For instance, you can buy a DAHUA fixed focal dome network camera for as low as N75,000, cheaper than other marketplaces selling the camera. Therefore, you are saving more when you buy on Rhebuch.

 

2. Multiple Camera Options

 

Rhebuch provides a wide range of options when buying your security surveillance cameras. This is because they vary in type, purpose, and price, making the platform a store for every budget. This aims to change the misconception that these cameras are expensive or ineffective. You can find your preferred security camera with a particular focal dimension and coverage on Rhebuch without buying whatever is available.

 

3. Fast And Free Delivery

 

You are eligible for fast and free delivery when you purchase security surveillance cameras and other systems on Rhebuch. This is to make the logistics of your purchased products seamless through its unique way of proving that the company is highly customer-centric. Therefore, your cameras will be delivered to the platform within 24 hours of purchase.

 

4. Fast Returns

 

Rhebuch allows its customers to return their purchased products if they are no longer interested or unsatisfied. Irrespective of the reason, if it is valid, there is a window for you to return your camera for another. You can complete the return process on the platform within 24 hours.

 

5. Discount Offers

 

You can get the best deals for purchasing security surveillance cameras on Rhebuch. This is always available during special sales seasons, where you will have price slashes for your sales. It can go as high as a 30% discount on the platform. That is why it is important to always keep up with the sales and deals on the platform so as not to miss out.

 

Conclusion

 

You can get quality security cameras in your home or office at the best prices on Rhebuch, as it boasts a large customer base that trusts the platform for security and safety automation needs. So you can buy all your security gadgets on Rhebuch to give you the sense of safety you desire.

 

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BANKING

Financial Analysis: A Comprehensive Study of The Well-Being of A Country 

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Financial Analysis: A Comprehensive Study of The Well-Being of A Country

Understanding the financial stability of a country requires a thorough understanding of financial analysis. In order to offer insights into the overall financial stability and overall wellness of the country, it entails evaluating a range of economic indicators, financial performance, and market movements.

In this article, we will delve into the fundamentals and importance of financial analysis in evaluating a country’s economic situation.

THE HISTORY ABOUT FINANCIAL ANALYSIS

Ancient Beginnings:

The roots of financial analysis can be traced back thousands of years. The ancient Mesopotamians, Egyptians, and Greeks were among the pioneers of documenting financial transactions, creating basic records of assets and liabilities. These early attempts laid the groundwork for the concept of financial analysis through the study of financial statements and ledgers.

Medieval Europe:

During the Middle Ages, Europe witnessed the rise of merchant guilds and the emergence of double-entry bookkeeping. Italian mathematician and Franciscan friar, Luca Pacioli, is often credited with formalizing double-entry bookkeeping, publishing his seminal work “Summa de arithmetica, geometria, proportioni et proportionalita” in 1494. The concept of balancing debits and credits within financial records formed the basis for modern financial analysis techniques.

Industrial Revolution:

The Industrial Revolution in the 18th and 19th centuries revolutionized business and the need for financial analysis grew rapidly. As companies expanded and diversified, investors began demanding more comprehensive financial reports to assess the potential risks and returns of their investments. The birth of limited liability companies further accelerated the need for financial analysis, as shareholders sought transparency in the performance of their investments.

Modern Era:

The 20th century witnessed significant advancements in financial analysis techniques. The advent of electronic computing in the mid-1900s enabled the processing and analysis of vast amounts of financial data, leading to the development of sophisticated financial models and ratios.

The Great Depression of the 1930s laid the groundwork for modern financial analysis as regulators sought effective ways to prevent future economic crises. The establishment of the U.S. Securities and Exchange Commission (SEC) in 1934 brought about standardized reporting requirements, including the filing of audited financial statements. This increased transparency and standardized financial reporting provided analysts with a more accurate and consistent basis for their analysis.

The Rise of Quantitative Analysis:

In the latter half of the 20th century, the growth of computing power and the availability of large data sets propelled financial analysis into new territory. Quantitative analysis, utilizing statistical models and mathematical algorithms, started gaining prominence. Financial analysts began incorporating complex mathematical methods to assess investment opportunities, risk management, and portfolio optimization.

Modern Financial Tools:

With the advent of the internet and the digital age, financial analysis has become even more accessible and data-driven. Sophisticated software programs, data analytics tools, and artificial intelligence have revolutionized the way financial data is analyzed and interpreted. In recent years, technologies like machine learning have been leveraged to develop predictive models that can assess future trends and make accurate financial forecasts.

MEANING

Financial analysis is the process of evaluating businesses, projects, budgets, and other finance-related transactions to determine their performance and suitability. Typically, financial analysis is used to analyze whether an entity is stable, solvent, liquid, or profitable enough to warrant a monetary investment.

Financial analysis is a fundamental tool that allows organizations and individuals to assess the past, present, and future financial health of a business or investment. Through a systematic examination and interpretation of financial statements, ratios, and other key indicators, financial analysis helps in making informed decisions, optimizing resources, and improving overall financial performance. In this article, we will delve into the meaning of financial analysis, its prominent components, and its significance across various sectors.

Financial analysis involves scrutinizing financial data to evaluate the performance and profitability of an entity. It assists in quantifying the effectiveness of financial decisions, identifying trends, predicting future outcomes, and benchmarking against industry standards. By analyzing financial statements, investors, analysts, and other stakeholders gain valuable insights into the financial position, liquidity, solvency, and operational efficiency of an organization.

FUNDAMENTALS OF FINANCIAL ANALYSIS IN A COUNTRY

  1. Gross Domestic Product (GDP): GDP is a primary indicator used to gauge the economic performance of a nation. Financial analysts analyze GDP growth rates and its components, such as consumer spending, government expenditure, investments, and net exports. This analysis helps in determining the overall strength of the economy and identifying areas of potential growth.
  2. Trade and Balance of Payments: Trade analysis focuses on a country’s imports, exports, and balance of payments. Evaluating trade patterns helps identify sectors driving the country’s economic growth, trade imbalances, and potential risks to the economy from external factors such as changes in global demand or disruptions in supply chains.
  3. Inflation and Interest Rates: Analyzing inflation rates and interest rates provides insights into the stability of a country’s economy. High inflation erodes purchasing power, while high-interest rates can impact borrowing costs, affect consumer spending, and investment behavior. Financial analysts assess the impact of inflation and interest rates on an economy’s overall competitiveness and economic growth potential.
  4. Government Debt and Fiscal Policy: Analyzing a country’s government debt levels and fiscal policy is crucial in understanding its financial sustainability. A high level of government debt may lead to increased borrowing costs, reduced investor confidence, and potential risks to economic stability. Evaluating fiscal policies helps determine whether a country is managing its finances effectively and implementing sustainable economic growth strategies.
  5. Stock Market Performance: The stock market reflects investor sentiment and provides valuable insights into a country’s economic outlook. Analysts evaluate key stock market indices, such as the country’s primary exchange, sector-specific indices, and market capitalization trends. Monitoring stock market performance allows for an understanding of investor confidence, economic growth expectations, and potential risks to the financial system.
  6. Banking Sector and Financial Institutions: A robust banking sector is essential for economic stability. Financial analysts assess the health of the banking system by evaluating indicators such as non-performing loans, capital adequacy ratios, and the overall stability and soundness of financial institutions. Understanding the well-being of financial institutions helps gauge the potential risks to the overall economy, including credit availability, liquidity, and financial contagion.
  7. Regulatory Environment and Governance: The regulatory environment and governance play a critical role in attracting investment and fostering economic growth. Financial analysts assess the effectiveness of regulatory frameworks, transparency in financial transactions, and the overall credibility and efficiency of institutions responsible for enforcing regulations. Evaluating the regulatory environment aids in understanding potential risks and opportunities for sustainable economic development.

SIGNIFICANCE OF FINANCIAL ANALYSIS IN A COUNTRY

Financial analysis plays a vital role across various sectors, serving the following purposes:

  1. Evaluating Financial Performance: By conducting a comprehensive financial analysis, companies can assess their performance, profitability, and financial stability. This, in turn, helps in identifying areas for improvement, developing strategic plans, and making sound financial decisions.
  2. Assessing Investment Viability: Investors rely on financial analysis to evaluate the profitability and risks associated with potential investments. Through detailed scrutiny of financial data, investors can determine the financial health and growth prospects of a company, aiding in making informed investment decisions.
  3. Facilitating Lending Decisions: Financial institutions utilize financial analysis to assess the creditworthiness of loan applicants. By analyzing financial statements, evaluating ratios, and assessing the risk profile, lenders can ascertain the borrower’s ability to repay loans and make sound lending decisions.
  4. Supporting Strategic Decision-Making: Financial analysis aids in strategic decision-making, such as expansion, diversification, or mergers and acquisitions. Understanding a company’s financial position and performance provides a foundation for evaluating the feasibility and potential outcomes of such decisions.

CONCLUSION

Conducting a comprehensive financial analysis provides valuable insights into the economic landscape of a country. By evaluating indicators such as GDP, trade patterns, inflation rates, government debt, stock market performance, banking sector health, and regulatory environment, financial analysts can gauge the overall financial health, identify potential risks, and recommend strategies for sustainable economic growth. Accurate and timely financial analysis acts as a compass, guiding policymakers, investors, and businesses to make informed decisions and contribute to the overall prosperity of the nation.

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