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Longing for Instant Gratifications Bane of Young Entrepreneurs- Adewoye

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The survival of a small business post-gestation period hugely depends on the entrepreneur’s approach to overcoming the market realities, which must include overcoming cravings for instant gratification, says Olumide Adewoye, founder of Versacorp Global Concept Ltd.

Also, intending business owners must understand to focus efforts on developing quality product and critically assess the market to attract customers and engender growth, advised Adewoye, Generation Next Youth Empowerment Summit’s WhatsApp (Live) Chat on: “When What You Love Isn’t Paying Your Bills Yet…What To Do”, coordinated by Elbativeni Impressions and Consult.

Adewoye, a Chemical Engineering graduate of Obafemi Awolowo University, Ile-Ife and a Mobil Oil Producing Undergraduate Scholar coordinates efforts of other professionals in the company, said he saved 70% of his salary as a staff of a bank as seed capital to establish the Versacorp Global Concept Ltd.

His professional experience started ‘with a vision of what was possible’, and today cuts across both the manufacturing and financial sectors.

“I wanted to be a career person like everyone else when I was in school. However, while on an Industrial Training, I met a man that gave me a new perspective. I was in my 400 level. So when I came back I began to ask questions about all the equations we were taught in the classroom”, he told over 70 SME owners drawn from across the globe.

Adewoye said he had a product in mind but subjected it to market reality before scaling up.

“So I was producing manually with limited investment in equipment. I had little or nothing to lose. Again, I didn’t resign from my employment before starting out. If there was no real demand, I could stay on a little longer. After deciding on the product, I then invested a lot in how to produce cheaper than competitive products and still come up with something better.

“Whenever I saw an empty drum on the street, in my mind, I was thinking how it could be converted to a reactor. I had no money, but I had a very big vision. After graduation, I got a job in the banking sector. By then I knew I was going to be a business person. I already drew the plan of my proposed business with dates. My long term vision determined my interests.

“After working in the bank for four years, I voluntarily resigned my appointment to start my business full time. Every month I was saving at least 70% of my salary; using it to buy equipment little by little over the period of four years that I worked”, he disclosed.

During the chat coordinated by Destiny Ruth Obiakoeze; Chief Executive Officer of Elbativeni Impressions and Consult and Founder of Elbativeni Foundation Parent companies of the Youth Summit; the Entrepreneur agreed alongside over 70 participants who joined from across the world that ‘Excellent’ academic qualification is no longer a guarantee for suitable jobs or businesses, as ‘Excellence’ is not a strategy in today’s world anymore. It’s a minimum requirement. One, competition is keen. The truth is that we are all competing every day.”

Accordingly, working with a company prior to starting yours has a lot of advantages. A strategy list would be: Know what your purpose is. Know it early enough. Determine the requirements needed to actualize your purpose. Invest in personal development and resolve to pay any sacrifice needed to bring your vision to reality.

Adewoye also advised young people to shun sacrificing learning enduring life lessons on the altar of instant gratification. “The lessons and skills can make you more than the salary,” he said, I know of a man that was employed as one and today he’s a multi-millionaire. He later established his own farm using the knowledge and skills acquired and owns lots of properties around. I have employed a few farm workers in my farm 99.99% of them discuss things like food, phone, clothes, etc with me.

“They don’t see it as an opportunity for them to learn something they can later set up. They want to save enough to buy an android phone from their current Nokia phone. They want to buy new shoes. Unfortunately, most of today’s youth are suffering from the same thing. People who are unemployed possibly use better gadgets than some of us in business. If they are passionate enough, they should deny themselves of those things and channel the money to fund their future. As a bank employee, I wore a suit for 3 years!”

In a contribution, one of the participants Daniel Okpechi said, among other things, “we have authenticated the impression that success is a moving target, the more you aim, the further it advances. Let your last aim not be your final aim. Even if you had failed previously, don’t be discouraged by the pain of failure, because your capacity has inadvertently improved. Try again, and again, because Thomas Edison rightly observed that ‘Many of life’s failures are people who did not realise how close they were to success when they gave up”. A wise man said that ‘knowledge is power’, but I beg to slightly differ from that popular belief. The truth is; knowledge is just potential power!

“Just as the energy in your power bank is useless unless you plug it to your phone, the same way the knowledge we have gained from Mr. Olumide today will lie fallow unless we apply it to solve problems. For it is only then that the potential power can be converted to kinetic power to produce results.

“For those who are waiting for the perfect time, the time might never be perfect because even life itself is not perfect. A Chinese adage says “the best time to plant a tree was 30 years ago, another best time is now”.

“Let that fear of uncertainty not cripple us from adventure because, over 90% of our fears never happen and everything that you have ever wanted is on the other side of fear. Remember: Action cures fear! If you do the things you fear, fear will die naturally”.

This Live Chat is one of many expected virtual series leading up to ‘The Generation Next Youth Empowerment Summit’  (a youth Summit that serves as incubation to growth in life and business with a vision to identify that latent power – passion, inborn in youths, building Leaders) which will hold its 3rd Edition later in October this year in Abuja, Nigeria.

 


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PalmPay Unveils First Set of Winners in Eid Mobile Bonanza

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PalmPay has announced the first set of winners in its ongoing Eid campaign tagged PalmPay Eid Bonanza, which kicked off on April 10th and will run until April 30th, 2024.

Since the start of the bonanza on April 10th, 5 lucky winners have been emerging daily simply by performing tasks on the PalmPay App such as transferring funds, airtime and data purchases, bill payments, and savings.

Comfort Udoh from Lagos, one of the proud recipients of an iPhone 15 Pro, expressed her sheer delight. “I simply won by recharging my phone with airtime on the PalmPay app. I received the exciting news via a call from PalmPay Nigeria. I thank them for the generous reward of a brand new iPhone 15 pro”

Also, Mr. Abegurin Patrick Segun’s winning entry came about when he placed a N100 bet using his PalmPay app. It was a delightful surprise for him to receive a call from PalmPay Nigeria, informing him of his victory in the daily raffle draw, and he’s now the proud owner of an Infinix Hot 40i.

To participate in the remaining weeks of the campaign, download the PalmPay App from Google Play or App Store. Sign up for an account and include your BVN or NIN to complete the process and click on the  Eid Bonanza Feature.

There are still numerous phones to be won daily, along with the added bonus of daily free transfers to any bank via the PalmPay App.

Enakeno Umuteme, the Head of Marketing and Communications at PalmPay Nigeria, notes that “Our primary objective is to reward and acknowledge our loyal customers. This campaign stays true to its promise of appreciating Nigerians who are PalmPay users”

PalmPay offers an array of services including money transfers, bill payments, credit services, and savings on its app and via its mobile money agents. Since its inception in Nigeria in 2019 under a Mobile Money Operator license, the platform has amassed over 30 million app users as part of its cashless payment ecosystem.


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Kaspersky Warns of Data Stealers Hunting for User Credentials

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As the malware development market continues to flourish with new stealers such as Lumma, for the last three years Redline still remains the dominant data-stealing malware used by cybercriminals.

More than half of every device (55%) targeted by password-stealer attacks in 2023 has been infected with the Redline malware, Kaspersky Digital Footprint Intelligence finds.

Infostealers infiltrate devices to illicitly obtain sensitive credentials such as logins and passwords, which are then peddled on the shadow market, posing significant cybersecurity threats to personal and corporate systems.

According to information gleaned from log-files traded or distributed freely on the dark web, Redline was used in 51% of infostealer infections from 2020 to 2023. Other notable malware families included Vidar (17%) and Raccoon (nearly 12%).

In total, around 100 distinct infostealer types were identified by Kaspersky Digital Footprint Intelligence between 2020 and 2023 using metadata from log-files.

The underground market for data-stealing malware development is expanding, evident from the rising popularity of new stealers.

Between 2021 and 2023, the portion of infections caused by new stealers grew from 4% to 28%. Specifically, in 2023, the new “Lumma” stealer alone was responsible for more than 6% of all infections.

“Lumma emerged in 2022 and gained popularity in 2023, through a Malware-as-a-Service (MaaS) distribution model.

This means any criminal, even those without advanced technical skills, can purchase a subscription for a pre-made malicious solution and use this stealer to carry out cyberattacks.

“Lumma is primarily designed for stealing credentials and other information from cryptocurrency wallets, commonly spread through email, YouTube, and Discord spam campaigns,” says Sergey Shcherbel, expert at Kaspersky Digital Footprint Intelligence.

To guard against data-stealing malware, individuals are advised to use a comprehensive security solution for any device. This will help prevent infections and alert them to dangers, such as suspicious sites or phishing emails that can be an initial vector for infection. Companies can help their users, employees and partners protect themselves from the threat by proactively monitoring leaks and prompting users to change leaked passwords immediately.


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World Energy Conferencing

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By Okoko Chidozie Christian

[email protected]; 09025179984.

In an increasing world, the effectiveness of meaningful human interaction becomes ever important.

World Energy Conferencing

The significance of networking remains at the very core of what we do; and to support this we strive to offer more opportunities through digital platforms to engage online year round.

Conferences as indispensable part of business could be a vital opportunity that is certain to reap one’s time, organizational commitment and lots more.

Research proven creditably reveals that conferencing provides a rare opportunity for key individuals within field specialism to come together collaboratively all over the world, in the same place, at the same time.

Such environment provides the perfect platform to network,

form partnership and exchange knowledge with both peers, and people from connected industries with whom one may not have previously connected.

A prospect such as this is sure to serve well both now and in the future.

Having known that conferences attract a unique and incredible mix of thinkers, leaders, experts and emerging talents with an existing predisposition to develop skills; it also stimulates industry progress and contribute to important global conversations.

World energy conferencing are energy-focused events set to draw in the world’s top businesses and their leaders to put the wheels of actions in motion against climate crisis and other major threats to the energy sectors and wider world as a result.

The later part of last year saw one of the world’s most pivotal sustainability events to date, COP28 reported in my previous article “Sustainability of Clean and Renewable Energy” on April 1st, 2024. The event saw world’s leaders take urgent actions and decisions on the transition away from fossil fuels and towards renewable and energy efficiency.

Undoubtedly, conference brings a wealth of forums, events, programmes which unite leaders about energy and industry’s interest topics, insights, guidance and tackling of some of the most pressing challenges.

These energy events will help in bringing together leading companies and talented people to provide business professional with high quality trade shows, digital solutions and connections, research reveals.

Some of the anticipated World energy events include World Utilities Conference Abu Dhabi, UAE (May 8-10,2024); International Conference in Energy Paris, France (14-15 May, 2024); Reuters Global Energy Transition New York, USA (7-8 June, 2024); Energy Tech Summit, Bilbao, Spain (10-11 April, 2024 ); Offshore Technology Conference, OTC in Houston Texas (6-9 May 2024), and many more.

World Energy Conferencing help companies and individuals to gain access to official media partnering and news publications for the world’s largest energy events thereby increasing their brand visibility through a variety of compelling content platforms helping to share latest innovations which are shaping the future of energy.

Also, connect industry leaders and passionate individuals from across the globe all committed to advancing the future of the energy industry in a path towards sustainable, renewable and affordable energy.

Technology expositions has helped a wide range of industry-leading companies to present energy-efficient products, energy management services and solutions.

Also, creates an environment for global think tank, powered by global innovation, pioneering minds and groundbreaking insights. As creating a new energy future require bold and different thinking, majority of these conferences regarded as the foremost events get accelerated global transition to clean energy, and bring leaders, policy-makers, investment incubators, corporate partners and world-class start-ups to work towards a greener tomorrow.

However, apart from being at the frontier of discovery on a global platform, conferencing witnesses the solution, ideas and game changers that matters amongst the world’s leading energy brands. It opens way for stakeholders to a unique occasion in examining critical insights, global drivers of energy prices and to network with energy specialists from other international companies of the world.

World energy conference platforms showcase advances in energy and a highly interactive experience that inspire progressive leadership thinking, collaborative and constructive actions. Regarding the concept of its most vital meetings, reflects its present and dedicated future to the entire society.

So, as we look ahead to the next 100years of energy mix; it is critical we consider not just the future of our energy technology, but also how we increase society’s energy literacy and create more inclusive bottom-up energy communities.


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