Five (5) tips for Business and Entrepreneurship

There are a lot of things surrounding business and Entrepreneurship. In our last post we discussed seven Ps that had to do with business, kindly read our previous post to see all about it, Link is here: https://humteqindustries.blogspot.com/2022/10/seven-7-ps-of-business-and.html

In this post we would be sharing five tips that would help anyone in business or wants to start a business. The tips are seen everywhere and we hope you find them useful.

1) Start Small and Minimize borrowing: All this depends on the kind of business one is involved in or wants to get involved in. It is best to start with what you have and grow with it. There is a beautiful thing that happens when one watches something small grow and become big: it’s like watching a baby grow and become an adult. It is very humbling. In addition to starting small, we encourage startups or established businesses to reduce borrowing due to how uncertain times can be (Example in Nigeria, with the high rate of inflation, borrowing can be very risky. Let us say one is into flour distribution and bags of flour are bought at N20,000 per bag and one sells at N20,500. When one returns back to the manufacturers, one may discover that a bag of flour is now N20,500 or N21,000.) In this case, paying back money borrowed can be challenging and bear in mind prices are sold at a common rate; as a seller, one cannot sell higher than neighbors around them unless customers will vanish.

2) Compassion and Sentiments are different things: Compassion and Sentiment are two separate things in the world of Business. Compassion has to do with adding value and Sentiments has to do with killing business. Example of Compassion, Let us say there are relatives looking for work and they approach one to find them work, out of compassion one puts them in a starting position to train them. Example of Sentiment, let us say there are relatives looking for work and they approach you to find them work, out of sentiments (Entitlement too) one puts them in a managerial position without training them. That is a recipe for disaster.

3) Management and Money are needed: There has to be a balance between Management and Money when running an organization. There should not be a little of any one and there should not be an excess of anyone. There are businesses that have a lot of money but lack proper management and there are businesses that have good management but lack the right amount of money to get work done. Both has to balance.

4) Wisdom is needed – Strategy and others: When running a business, wisdom is needed. Wisdom includes studying the environment to know the kind of needs to address through the business. It also includes doing research, applying proper strategies to draw people and keep them as paying customers.

5) Motives Matters: Business is all about profitability; it must sow value to reap a harvest of value. It is more than money, money is part of the rewards. Other rewards includes reducing unemployment which will reduce the rate of crime and reduce the rate of insecurity in the society. The more business grows, the more these social and economic challenges are solved.

                                                                    Other Information.

• Also gentle reminder, we have our 100 trades challenge for forex trading coming soon, November 2022 and all you need is an internet enabled phone, with data or internet connection and also demo trading account. 
  
  
  
• We also have for those in Nigeria, Jamb CBT software for sale. Software comes with cool features like user friendly interface, instant score feedback and others.
  
  
  

Kindly send a mail to humteqindustries@gmail.com for more details.

We appreciate you for reading this far. Kindly subscribe, like, share and comment.

Thank you.

Have a lovely day.

Humteq Industries

Breeding Solutions

Cyber Security

Firewalls, Antiviruses, Https, SSL and many more. All these have to do with cybersecurity and in any industry, security is needed either to keep things in or to keep things out; ensuring that company & business or private affairs are kept secret from unclarified personas or to keep malwares and spywares from gaining access to resources either on enterprise level or personal level, cybersecurity is needed. 

What is Cybersecurity? This is the process of defending any mobile device, network, data and systems from harmful attacks. There are various form of cybersecurity and they are:

1) Operational Security: This is a process of protecting assets such as data. The process to which data will be shared and accessed across border is of high priority. Policies and roles are put in place to ensure conditions and clarification to access the data are met. In cloud computing, providers such as Amazon Web Services (AWS) provide a management console and make use of (Identity and Access Management) IAM for such operational security.

2) Network Security: this handles protecting the network infrastructure of an organization both virtual and on-premises. Network structures like LAN, WAN, MAN, VPN and even VPC have security measures put in place.

3) Application Security: this handles protection of both system and program software making sure they are safe and secure from harm. Applications like Whatsapp, Facebook and others all have security measures put in place. Remember 2FA? Yeah.

What are the career paths for those in Cybersecurity? There are various career opportunities for those in this field and those interested in the field such as: Chief Information Security Officer, Information Security Officer, System Administrator, Computer Forensics, Security Architects and others. It is said that cybersecurity experts are highly sort after due to the rate of cybercrime and high confidentiality of data. According to Department of Labor Statistics their pay ranges from $103,000 to $300,000 a year.

How does one protect themselves from cyber-attacks on a personal level? There are various ways to protect user’s device and data from cyber-attacks and these includes:

1) Updating Software and Operating system: Ensure that the applications and operating system of devices are updated regularly (whenever there is a new release or annually or whenever convenient for user and their budget, lol.)

2) Mindful of links: Scammers are everywhere and in the digital world they operate through links. These links could be spyware, malware, Trojan and others in the form of good things like how to make more money. One needs to be careful of clicking those links.

3) Use of Anti-Virus: After a Firewall, an anti-virus is useful in protecting systems whether in an organizational setting or on a personal level. Anti-viruses like Kaspersky (provided us with insight for this article) and Norton are some good anti-viruses one can purchase.

4) Avoid using unsecured WiFi: Whenever in a public environment, be mindful not to connect to public wifi because they could be unsecured especially those without password. An extra, make use of data blockers especially when charging devices in public areas, viruses have been noted to be planted in USB port.  Get a data blocker from us, simply send a mail and we would respond.

                                                                Other Information.

• Also gentle reminder, we have our 100 trades challenge for forex trading coming soon, November 2022 and all you need is an internet enabled phone, with data or internet connection and also demo trading account. 
  
  
  
• We also have for those in Nigeria, Jamb CBT software for sale. Software comes with cool features like user friendly interface, instant score feedback and others.
  
  
  

Kindly send a mail to humteqindustries@gmail.com for more details.

We appreciate you for reading this far. Kindly subscribe, like, share and comment.

Thank you.

Have a lovely day.

Humteq Industries

Breeding Solutions

Seven (7) Ps of Business and Entrepreneurship

 

The entrepreneurship journey is one of wonders. It is like going on a tourist trip; where one experiences both good and bad but nonetheless they are interesting. A lot of us have heard of the seven (7) wonders of the world in the same way there are seven (7) Ps of business and Entrepreneurship. These include: Purpose, People, Products (or services), Profits, Plan, Process and Productivity. 

Let us break them down.

Purpose: This handles the reason for venturing into the current endeavor. There has to be a strong reason why entering the business world called. A lot of people entered business because their friends or relatives are in business or they noticed a trend in the market. Question is what happens when that venture goes out of season? The purpose of the business is what would help in challenging times.

People:  This deals with several areas; your customers, stakeholders, team members, employees and others. Kindly remember business is people; how people are treated in the business and around the business determines to a length how successful the business would be.

Products: This deals with what would be sold. This could be goods or services or both. It is part of a business value proposition and it is a means the business gets rewarded with value. These could vary from necessities to luxuries.

Profits: This deals with one of the rates the business would get customers & publicity (profit margin; this is based on necessity or luxury) and also deals with what the business will enjoy after expenses are done.

Plan: This deals with how one goes about executing the business including and especially funding. Ideas are good vehicles but they need empowering.

Process: This deals with management. The management of the business determines a lot on how the business will thrive. Alongside, we need to understand that people in the business needs to manage their personal affairs so that it balances with business.

Productivity: This deals with how the business is measuring their progress or throughput. Questions such as are our customers satisfied? are we minimizing cost? Are we maximizing profits? then others come to play. The business could have projects and goals that needs to be tracked.

 

Fig. 1 Business Management Lifecycle.

                                                        Other Information.

• Also gentle reminder, we have our 100 trades challenge for forex trading coming soon, November 2022 and all you need is an internet enabled phone, with data or internet connection and also demo trading account. 
  
  
  
• We also have for those in Nigeria, Jamb CBT software for sale. Software comes with cool features like user friendly interface, instant score feedback and others.
  
  
  

Kindly send a mail to humteqindustries@gmail.com for more details.

We appreciate you for reading this far. Kindly subscribe, like, share and comment.

Thank you.

Have a lovely day.

Humteq Industries

Breeding Solutions

Artificial Intelligence (AI)

What is Artificial Intelligence?

Some of us have heard of Artificial Intelligence, right? To those of us who are new to the concept or term, Artificial Intelligence simply put is the process of getting machines to think or function with or near human intelligence. (Let us be honest, no matter how much a machine tries to function like a human being, it is not human and will still need a human being for some essential things like updates and replacements of parts. Even we human beings need each other to work well).

According to Britiannica, A.I is the ability of a digital computer or robot to handle tasks that are commonly handled by human beings such as reasoning, learning and others. The aim of artificial Intelligence is simply to help make life smoother and easier, in otherwords help human beings. 

What are examples of Artificial Intelligence? Some examples of artificial Intelligence we see every day are the likes of Siri in iphones and Alexa in Amazon products. These intelligent machines are able to handle certain things like answering questions in near human form, though they are constantly upgraded to be more articulate and assertive like human beings.

Alexa from Amazon

Siri from Apple

Fig 1: Examples of A.I

What are the career paths for those in A.I field? The A.I field is predicted to grow to $190 Billion by 2025, thereby creating new jobs like A.I architect, A.I Research Scientist and A.I Engineer. One could also venture into creating parts like computer chips needed for this technology to process information. The Salaries for those in this field range an average from $100,000 to $150,000 yearly. 

What are the Advantages and Disadvantages of A.I?

Advantages:

1) Reduces Human Error

2) 24/7 Availability

3) Assistance

4) Innovation

Disadvantages:

1) High cost

2) Unemployment

3) Emotionless

4) No Ethic

 

We appreciate you for reading this far. Kindly subscribe, like, share and comment.

We also want to inform you of our upcoming 100 trades challenge for those interested in Forex trading. All one needs to participate is an internet enabled mobile phone, internet service (lol) and demo trading account. Challenge starts on November (Date will be announced), we would be posting trade set ups on social media platforms like Twitter and Instagram and all you need to do is load them up and see how they play out. Interested participants can also sign up by sending a mail to humteqindustries@gmail.com

Kindly remember the aim of this challenge is Educational.

Fig 2: Forex Trading

Thank you.

Have a lovely day.

Humteq Industries

Breeding Solutions

Entrepreneurial Education (E.E)

So you want you to be an Entrepreneur? Or Are you already an Entrepreneur? Or are you observing?

Let us start with two (2) questions (Personal questions):

1) What is Entrepreneurship? 2) Who is an Entrepreneur?

We at Humteq Industries see Entrepreneurship as Education, a transcendence or transfer of knowledge, skill and wisdom that benefits the next person and the next generation. An Entrepreneur is simply an Educator or teacher. In words of Late Dr. Myles Munore “Everything is about Management” It is easy to underrate this topic and it is also easy to overrate it. How? Simple:

Underrated view of Entrepreneurship and Entrepreneurs: “It is just buying and selling, anyone can do it”,  “It is just a small shop, how long before it grows? How does it help the economy grow?”, “Your profit is N100 only? That’s small, I want big money sharp sharp!”

Overrated view of Entrepreneurship and Entrepreneurs: “It must be nice being called a C.E.O” “You are making a lot of money” “You are so successful!”

The above all sound familiar, right? Maybe we might have said 1 or 2 of them, right? Let us outlie some balanced views of Entrepreneurship and Entrepreneurs:

·         Yes, it is buying and selling but it has more. The Entrepreneurs is business minded and system minded. How? While business involves exchange of goods or services for money, the Entrepreneur creates ways to reach more people to serve and also creates a platform or opportunity for him/her to teach and for others to learn, thereby creating a working system. This is also how a small shop can grow and help the economy grow.

·         Yes, the profit is N100 but with the law of compound effect and interest at play, collecting N100 from many people consistently can make one very rich especially when under proper management. This makes the Entrepreneur become successful and very rich! Doubt it? Ask the likes of Walmart in America and Roban Stores in Nigeria.

                                                                                                                    

·         Finally, C.E.O is more than a title or promotion or an achievement, IT IS A RESPONSIBILITY. Yes, the entrepreneur may be getting bigger pay, riding cool cars and living in big houses (this is for those that want to, there are people that like the simple life), the Entrepreneur is always going to be infront of the army to ensure that strategies are drawn and properly executed, hence the title Chief Executive Officer (C.E.O), it comes with work, sure there are perks but one needs to  work to flex your perks, lol.

So you still want to come along for the ride? Fasten your seat belt because it is going to be a cruise. The coming weeks, we are going to be sharing some tips, debunking some myths and other things that comes with entrepreneurship and entrepreneurs.

We appreciate you for reading this far. Kindly subscribe, like, share and comment.

Thank you.

Have a lovely day.

Humteq Industries

Breeding Solutions

The Reboot

 

                                                                         The Reboot.

Hello, Good day,

Welcome back to Humteq Industries and our mission is to Breed solutions graciously through innovations, inventions and technologies.

It has been a long time, exactly 2 years and more, WOW!!

We are back after a while of challenges and assessments, we are not saying the challenges are over but we are grateful for how they have helped us audit our work and ourselves. They helped us learn what we need to focus on and how to go about it to ensure that you; our readers/audience are receiving value always. Let us not forget, we would not have being able to refine ourselves without your feedback, so kindly keep the feedback coming, we appreciate them. We would do our best to exceed expectations.

Moving Forward, we are focused on using this blog as a means to express our work, share latest Information and Technology (IT) trends as much as we can gather and also as much as you recommend to us. Basically, the blog is going to be for fun and Education mostly and as a bonus, we would be throwing some entrepreneurial posts, just for those who like it, whether are you are into it or thinking about going into it.

 The year 2022 is almost of over and Nigeria, our country of origin just celebrated her 62^nd Birthday. Yes, 62 years after colonial times; so much mixed feelings in the air, with what is going on in the country and others but nevertheless, we are grateful. The remaining part of the year will be spent on surfaces blogging, meaning we are going to be sharing some trends but in the abstract form. We would be focused on 12 key trends for the next 12 weeks and these are:

1) Artificial Intelligence (AI)	2) Computer/Cyber Security	3) Internet of Things (IoT)
4) Machine Learning (ML)	5) Data Science	6) Cloud computing
7) Automation	8) Devops	9) Augmented Reality & Virtual Reality (AR&VR)
10) Cognitive Computing	11) Quantum Computing	12) Internet

 

These are some assurance (Lol)

·         We would be treating the various topics on a surface level for the reminder of the year, 2022 like we said.

·         We would endeavor to make it understandable so that even a little child interested in these contents can decide which field they can venture into.

·         We would endeavor to go deeper on each topic next year hopefully.

·         We would post contents that are brief and precise. We want you to enjoy our expression.

·         We would be posting once or twice a week.

We appreciate you for having read this so far and once again welcome to Humteq Industries, where are focused on breeding solutions.

Thank you.

Have a lovely day.