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Begho, Atul Charge Startups to Prioritize Building a Brand

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(L-r): Ingo Herbert, German Consul General in Lagos; Nkemdilim Begho, CEO, Future Resources Software Limited, and Atul Kshetry, a business mentor and founder of IDM Services Plc, during CFA startup hangout at the weekend.

Young Startups have been tasked to focus on building reputable brands and creating value in business rather than striving to make money as their priority.

With the general mindset of making money being the current major focus of most up and coming entrepreneurs, speakers at the CFA’s Startups Hangout for the March Edition are of the opinion that creating value and building brands remains the critical factors for achieving sustainable business growth.

Addressing entrepreneurs at the event, Nkemdilim Begho, CEO, Future Resources Software Limited, stressed that creation of value in a business, as well focusing on how to build the brand should be the primary objective for Startups.

Begho said money should never be the primary objective when starting a business, as this would not provide the ingredients to building a sustainable business in the long run.

“Whenever, I ask up and coming entrepreneurs why they want to venture into business, if they tell me money,  I tell them it doesn’t work that way.  I always tell them to focus on creating value and building a brand, which has helped me till this moment”, she said.

“When I started my own business, it was never easy. I didn’t pay myself salary for over five years let alone thinking of hiring any employee. In spite of all the challenges, I kept on going”, she added.

The Future Resources Limited boss, however, charged the Startups to be strategic with pricing whenever a client shows interest in their services.

Begho explained that most times, clients do not know exactly what they want and the inability to explain in detail to them in a simple language they understand makes this become an issue.

“Some clients don’t even want to pay for your services. Some will under-price your services. You, however, need to be strategic and charge exactly what will work for you.  If you charge less than the real cost, you will never grow your business.

“On the other hand, you need to understand what value you are offering to your client and be able to explain in simple terms the ‘what, when and how’, before implementing a clients project”, she opined.

“When you communicate these things at the initial stage, it becomes easy to avert hurdles in the process of implementation”, she said.

Continuing: She charged all the entrepreneurs to always develop skills at every point in their career and make it a responsibility to grow day after day.

“The only way I get impressed with my employees is when they grow on their job, develop skills and learn fast from me. This way, I get impressed with their performance and that is what all entrepreneurs should be doing”, she concluded.

In his words, Atul Kshetry, a successful business mentor who has led IDM Services Plc through a fast track diversification process, said focus and patience would go a long in way in the entrepreneurial journey.

He explained that Startups have the wrong focus on business, which is commonly driven by money, at the same time jeopardizing integrity.

“When you start a business, be rest assured that the minimum years of getting returns is five, sometimes seven or even ten years and that means, patience. When you don’t have patience, then, it becomes a problem.

He, however, tasked entrepreneurs to make their employees shareholders in their businesses and by so doing, some level of integrity will be injected into the business.

On hiring staff, Atul’s maxims are “sincerity without ability is useless; ability without sincerity is injurious; but ability with sincerity is priceless”, so, go for staff with ability and sincerity when hiring.

“I have always made sure that integrity rules in every busines that I get involved with, meanwhile, making employees shareholders in the company triggers a sense of belonging and responsibility”, he concluded.

CFA’s Startups Hangout is a monthly program sponsored by CFAtech.ng, an online technology media, where entrepreneurs meet, learn, and network.

The Next edition of the CFA’s Startups Hangout holds on the 21st of April, 2017 at Adna Hotel, GRA, Ikeja.

For more information visit: http://startups.cfatech.ng

 

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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E-Business

Visa Launches ID Intelligence for Smarter Customer Authentication

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Visa has launched Visa ID Intelligence, a platform that lets issuers, acquirers and merchants quickly adopt emerging authentication technologies, according to a press release.

Available through Visa Developer Platform, Visa ID Intelligence offers a curated selection of third-party authentication technologies that feature simple integration with Visa APIs and SDKs. This allows clients to create, test and adopt new authentication solutions.

This ultimately helps financial institutions and merchants to adopt effective and secure solutions and accelerate time-to-market with streamlined on boarding and implementation through Visa as a single trusted source, the company said.

Visa ID Intelligence features include: Identity Documents— the platform evaluates identification documents and matches selfies to photo IDs, while extracting document information and converting it into digital form.

Uses include creating new accounts, and performing password reset and lost or stolen card replacement.

-Biometrics — Visa ID Intelligence allows clients to use eye, face, fingerprint and voice to meet consumer needs for convenience, security and speed in authentication.

Uses include app login, payments, step-up authentication, and more.

“Traditional methods for authenticating a customer can create frustration or are simply not designed for the new ways people are shopping and paying. We built Visa ID Intelligence to help accelerate smarter and easy-to-use authentication solutions for any commerce environment — to better protect against fraud and to move closer to a world without passwords,” Mark Nelson, Visa senior vice president of risk and authentication products, said in the release.

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ESET Works With Google To Protect Chrome Against Dangerous Malware

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By peter oluka

ESET, a leading global cybersecurity company, on Thursday launches Chrome Cleanup, a new scanner and cleaner for Google Chrome designed to help users browse the web safely and without interruption.

Chrome Cleanup will be available for all Google Chrome users running on Windows.

As cyber-attacks become more complex and difficult to spot, browsing the web can lead users to dangerous sites which can install malicious software onto devices.

Chrome Cleanup will alert Google Chrome users to potential threats when it detects unwanted software.

Google Chrome will then give users the option to remove the software. Chrome Cleanup operates in the background, without visibility or interruptions to the user. It deletes the software and notifies the user once the cleanup has been successfully completed.

“Using the internet should always be a smooth and safe experience for everyone,” said Juraj Malcho, chief technology officer at ESET. “For three decades, ESET has developed a number of security solutions that allow users to safely enjoy their technology and to mitigate a variety of cyber threats. Chrome Cleanup addresses unwanted software that can negatively influence a users’ experience on the internet.”

Chrome Cleanup is included in the latest version of Google Chrome. For more information about these tools, read Google’s blog post, here.

For 30 years, ESET® has been developing industry-leading IT security software and services for businesses and consumers worldwide.

With solutions ranging from endpoint and mobile security, to encryption and two-factor authentication, ESET’s high-performing, easy-to-use products give consumers and businesses the peace of mind to enjoy the full potential of their technology.

ESET unobtrusively protects and monitors 24/7, updating defenses in real-time to keep users safe and businesses running without interruption. Evolving threats require an evolving IT security company.

Backed by R&D centers worldwide, ESET becomes the first IT security company to earn 100 Virus Bulletin VB100awards, identifying every single “in-the-wild” malware without interruption since 2003.

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A Buyer’s Market in the Global Economics of DDoS Attacks

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It’s a buyer’s market in the local property arena at the moment, according to certain industry experts.

 

This is largely as a result of the slower economy, which has seen a rise in the number of properties for sale.

 

But did you know that globally, it’s a buyer’s market as well when we look at the economics of Distributed Denial of Service (DDoS) attacks? The second, of course, is an underground market, largely regarded as a criminal one.

 

So said Bryan Hamman, Arbor Network’s territory manager for Sub-Saharan Africa.

 

Referring to recently released information from Arbor Networks, he said, “It is interesting to analyse the current economics in global DDoS attacks, which are attempts to make an online service unavailable by overwhelming it with traffic from multiple sources. Most people who are aware of DDoS attacks understand that there will be a perpetrator and a target.

 

“However, we’re now seeing a growing number of third-party providers of DDoS attacks as a service, who advertise their abilities online in order to either sell would-be attackers access to the tools needed to conduct a DDoS attack, or who perform the attack themselves on the customer’s behalf and provide reports afterwards.”

 

Hamman noted  that the fees of these underworld providers are lessening, due to rapidly expanding competition and the supply of readily available attack resources such as botnets. As a result, he says, the DDoS business is currently a buyer’s market.

 

Arbor reported that the prices for attack services, sometimes called “stressers” or “booters” vary widely, as do estimates of the total cost of an attack to the victim. But the economics are simple: DDoS attacks are becoming cheaper than ever for the perpetrator; are extremely lucrative for the attack service provider, and potentially financially devastating for the target.

 

Arbor noted that an increasing number of operators resemble legitimate service provider infrastructures with significant computing power, typically running their own botnet armies to unleash DDoS attacks. Perpetrators can essentially rent the providers’ botnets by the hour, day or week, or in some cases can buy a specific number of bots outright. The mechanics of transactions follow a classic web service model, meaning the perpetrator and the provider need never come in contact.

 

Providers that conduct attacks-as-a-service even post their services online, with tiered pricing reflecting the different types of attack that they offer. Prices are based on several factors. They can include the duration of the attack, the perceived value of the target, the country in which the attack takes place and/or the different methodologies employed.

 

In Arbor Networks 12th annual Worldwide Infrastructure Security Report, 59 percent of respondents estimated their downtime costs as being more than USD500/ minute in lost revenue (some ZAR6,700 per minute with the rand/dollar exchange rate on around ZAR13.50 to the dollar), with some indicating even higher losses. This also does not factor in the costs of repairing the damage, potential legal costs of settling with customers denied service, or reputational damage to the company’s brand.

 

Hamman concluded, “Here in South Africa, we may not yet face the overtness of DDoS operators advertising their services, as can be seen in the US. However, this does not mean that local companies shouldn’t be vigilant against DDoS attacks – protection is more vital than ever. A hybrid solution that combines on-premises and cloud-based protection is the industry best practice in DDoS defence. When you accept that DDoS attacks aren’t going away, and in fact are projected to escalate, it makes the best economic sense of all to make sure that you are adequately prepared against a DDoS attack.”

 

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