Steve Cohen is about to find out if he's the most notorious hedge-fund manager in America or 'the best investor of all time'

Twenty billion dollars is a lofty capital-raising goal for hedge-fund manager Steve Cohen, whose past is admired and reviled.
Steve Cohen. Steve Cohen.
(Steve Marcus/Reuters)
Steve Cohen, the billionaire who ran one of Wall Street's most infamous hedge funds, is trying to stage a big comeback.
Less than four years after his old firm pleaded guilty to insider trading, Cohen is launching a new fund, reportedly with a goal of managing as much as $20 billion.
That'll include $11 billion already in his family office, The Wall Street Journal reports, adding that Cohen plans to raise another $9 billion from outsiders.
If he does start with $20 billion, it would be the biggest US hedge-fund launch in history, according to the industry publication Absolute Return. But none of the investors and advisers Business Insider spoke with for this story said they've seen or heard a pitch yet.
Still, that Cohen, now 60 years old, would seek to run a hedge fund again has probably been the industry's biggest open secret. Ever since the insider-trading allegations put one of his traders in jail and left Cohen barred from managing other people's money until 2018, Cohen has been working on revamping his image.
Point72 Asset Management, which has been managing Cohen's billions, quickly became known as the most public of family offices. He hired public-relations pros to shape the firm's message, launched an investing academy for college grads, imposed a ban on hiring from a New York hedge fund that came under scrutiny, and brought on a former federal prosecutor to keep the fund in check.
That was all during a period in which he wasn't legally allowed to accept outside capital. The Securities and Exchange Commission in 2013 barred Cohen's SAC Capital from managing outside money after it pleaded guilty to insider trading. Cohen wasn't personally charged. That ban lifts in 2018, following a settlement that ended charges that Cohen hadn't properly supervised a portfolio manager, Mathew Martoma, who had engaged in the insider trading.
But raising $9 billion is a lofty goal for a hedge-fund manager with a storied past, both admired and reviled, depending on who you ask. People close to Cohen said they were surprised by the amount being sought, mostly because it's tough to raise money, let alone a fund of that size.
Many investors remember Cohen for knockout returns and as a legendary stock trader. Many who have worked for him said they would love to again; others think Cohen's returns came illegally, from insider trading, and that the government somehow failed to bring charges against him.
Cohen is also launching a fund when his investment approach is somewhat out of style and faces stiff competition from both new and established funds. He's also planning to adopt a fee structure that many investors don't like.
The question now is, what matters more, Cohen's past or his future?
"Cohen should definitely go down as the best investor of all time," said Ed Butowsky at Dallas-based Chapwood Capital Investment Management. Butowsky said he had not been pitched on Cohen's new fund but previously invested clients' money with SAC Capital.
"He had a historical return of 25% with a standard deviation of seven," Butowsky said. "Anyone who understands our industry knows that is incredible. And that’s after his management fee and performance fee."

READ MORE: $3.7 BILLION HEDGE FUND: This market doesn't make any sense (AAPL)

Investors like Butowsky have no concerns about Cohen's past, and say he has been unfairly targeted.
"What killed me, and it killed my spirit a lot, was that a man could be found not guilty of anything," he said. "He was found guilty in the public eye and still to this day you can’t tell me something he did."
A spokesman for Cohen declined to comment.

The competition

Cohen's fund would compete with new hedge-fund shops with high pedigree but no stain.
These include a big fund expected from two Millennium Management chiefs later this year or early next. Then there are other new launches, like Brandon Haley's Holocene Advisors, which started earlier in 2017 with about $1.5 billion.
Israel Englander, chairman and CEO of Millennium Partners. Israel Englander, chairman and CEO of Millennium Partners.
(Phil McCarten/Reuters)

Cohen's fund is also proposing a pass-through fee structure, according to people familiar with the matter, which is favored among managers of his cohort. It will also include a fluctuating performance fee, The Journal reported. Previously, at SAC, Cohen charged as much as a 3% management and 50% performance fee, lavish even by hedge-fund standards.
The new structure could be problematic. Many investors criticize this kind of setup. Exactly what they are paying for is not transparent — as Reuters noted, they may be on the hook for expensive marketing dinners — and even in down years, the fees add up.
In a pass-through expense model, generally investors take on the costs of running the fund. It can be risky, as Folger Hill, a hedge-fund startup launched by one of Cohen's former talent recruiters, can attest. If some investors decide to pull out capital, that means fewer investors are taking on the same costs, and it becomes more expensive for those who remain to invest.
The model can also be set up in a way that investors, in addition to paying the pass-through management expenses, pay performance fees to individual portfolio managers if they log a gain — even if the overall fund is losing money.

 READ MORE: Facebook easily coasted to 2 billion users, but the joy ride may be coming to an end (FB)

This isn't necessarily how Cohen would set up the fund; the details have yet to come out. But this setup can seem unfair to investors, who are paying a lot of money even as they rack up losses, much higher than the often criticized 2-and-20 model. (That's where investors pay a standard 2% management fee and 20% of profits that the manager generates.)
All this doesn't mean that Cohen won't attract money.
"The majority of investors do look at him in the sort of marquee status," said Sam Won, founder of Global Risk Management Advisors, which advises institutional investors and hedge funds. "If anybody can get those terms, it’d probably be Steve."

Underwhelming performance

Given the hurdles, why does a multibillionaire start a fund?  Given the hurdles, why does a multibillionaire start a fund?
(New York magazine)

But in the years since Cohen's shop settled with the feds over insider trading, performance has waned.
In the first few years after the government's crackdown, Cohen posted stellar returns.
In 2013, the last year SAC ran, the fund was up 20%. In 2014, after the hedge fund converted into a family office, it generated as much as $3 billion in profit. In 2015, returns were close to 16%. Over these years, Cohen largely beat the hedge-fund competition.
The past year and a half has been less kind. His family office didn't make or lose any money in 2016, and hasn't made any money this year, people familiar with the situation say.

Who would invest?

Another issue is the past. Some investors won't be able to get over what happened.
While this group is likely to be in the minority, there will be some who "will say, 'Where there's smoke, there's fire,'" said Won, the advisor to investors and hedge funds.
That doesn't mean there won't be a lot of people signing checks. Investors have been seeking higher returns at a time when many hedge funds haven't performed well.
"They'll say, 'Maybe he was aggressive and he just got caught and he served his time out, so we're fine with that,'" Won said.
But there's still a sale to be made.
"He will likely be prepared to talk about things like compliance and risk management to give people comfort," Won added. "He’s going to have a very good story around those things."
There is some disagreement among industry insiders over what kind of investors are likely to invest. Some say that public pensions, which have been big funders of the hedge-fund industry, aren't likely to put money with Cohen, especially given the scrutiny they've already faced paying high fees to billionaire managers. Family offices, which manage money for rich people, are probably more likely, as are sovereign wealth funds, these people say.
Others say it won't matter.
"The majority of money will come from institutional investors — pensions, endowments, foundations, and funds of funds — but it’s not for the reason of the Steve Cohen thing," Won said. "It's because that's what makes up the greatest dollars that invest in hedge funds and alternatives today."

Why does a multibillionaire need outside money?

Whether he raises the money or not, Cohen is already worth billions, one observer says. You could say he has already won. Which raises the question: Given the hurdles, why does a multibillionaire start a fund?
It could give Point72's thousand or so staffers some solace knowing that the fund is growing and will potentially be more stable. If Cohen decided to pull out his money, other investors could fill the gap, a current staffer said. Having other investors in the fund would also allow Cohen to put his money into other ventures. He has already started a new Palo Alto office to invest in early-stage tech companies, and he has been an avid art collector.
Having other investors come on board also means he gets to have his billions managed for free, or at least for a lot less than when he's footing the bill by himself.
Then there is also the knowledge that, years after the government tried to shut him down, he could come out of it richer than ever.

$3.7 BILLION HEDGE FUND: This market doesn't make any sense (AAPL)

Tourbillon Capital's Jason Karp: "People are just paying significantly more for assets without any fundamental improvement in those assets."
Jason Karp. Jason Karp.
(Milken Institute)
The stock market's seemingly endless gains don't make much sense, according to a $3.7 billion hedge fund.
More than eight years into the market's latest bull cycle, the second-longest on record, stocks have rallied notably since President Trump was elected in November.
"People are just paying significantly more for assets without any fundamental improvement in those assets," Tourbillon Capital's Jason Karp wrote in a recent letter to investors that was reviewed by Business Insider.
Karp was referring to stocks' gains in the first quarter, which were heavily marked by tech. He wrote that "greater than 100% of the return came from multiple expansion without any corresponding revision upwards in earnings."

 READ MORE: Facebook easily coasted to 2 billion users, but the joy ride may be coming to an end (FB)

He added: "It was often the most crowded securities with the most undeniable themes that fared the best in Q1, as big multiples got bigger while fundamentals remained the same."
Karp highlighted Apple as an example, which recently surged "without any notable improvements in consensus future earnings or prospects." By contrast, Karp's fund owns several long positions that "have materially improved their future earnings/EBITDA potential" yet have not gone up in price.
Tourbillon's main fund, which manages about $2.9 billion, was down 4.1% net of fees through May of this year, according to investor documents. The fund has a 19.6% net exposure to the market. Tourbillon managed $3.7 billion as of February this year.
Stocks have continued their upward gains since Karp wrote his letter several weeks ago. Investors have placed their most bearish position ever on VIX futures, signalling a bullish wager on the S&P 500.
Karp is optimistic about his firm's long-term investment strategy, however, even as money flows to "fast-money" and data-driven strategies. 

 READ MORE: Steve Cohen is about to find out if he's the most notorious hedge-fund manager in America or 'the best investor of all time'

IBM quantum computer scientist Jerry Chow IBM quantum computer scientist Jerry Chow
"One of today’s greatest market inefficiencies may stem from the scarcity of capital devoted toward long-term, fundamental investing," Karp wrote. "The risk/reward of holding stocks decreases with time horizons, and our work continues to support the fact that fundamentals grow more, rather than less effective as time horizons increase."
The rise of big data has brought "more dislocations resulting from market participants putting undue emphasis on near-term trends while often times ignoring the secular and cyclical forces at play over the medium to long-term," he wrote.
Tourbillon is finding opportunities investing in companies going through so-called special situations – mergers, bankruptcies, and the like – partly because of how quant strategies work.
"Many quantitative strategies purposely exclude issuers with limited price history like IPOs/Splits/Spins/etc. from their algorithms," he wrote, adding that "certain special situations are initially excluded or removed from indices, temporarily reducing the influence of passive investors ... That leads to structural inefficiency."

Facebook easily coasted to 2 billion users, but the joy ride may be coming to an end (FB)

Now that Facebook is used by roughly two-thirds of the world's population with internet access, its days of easy growth are nearing an end.
CEO Mark Zuckerberg holding a model wing for Facebook's internet-beaming mark Zuckerberg Aquila drone. CEO Mark Zuckerberg holding a model wing for Facebook's internet-beaming mark Zuckerberg Aquila drone.
In a way, getting to 2 billion users was easy for Facebook.
The social network's growth has been on a steady and unstoppable climb for the past decade. Facebook's strength has always been its ubiquity — everyone uses it because everyone uses it.
But now that Facebook is used by roughly two-thirds of the world's population with internet access, its days of easy growth are nearing an end.
And the powerful financial engine that has propelled its stock to all-time highs could start to sputter.
It won't happen overnight.

 READ MORE: $3.7 BILLION HEDGE FUND: This market doesn't make any sense (AAPL)

If the roughly 1.5 billion people who already have internet access but don't use Facebook can be brought onboard, Facebook will be well on its way to the 4 billion user mark. But a good chunk of those users are in China, where Facebook is currently blocked. That means Facebook will have to display some astute diplomacy, or compromise some of its values about free speech and open information, to make it happen.
After that, Facebook will have to convert poorer, non-internet-connected people into users that it can monetize through advertising.
That's problematic for a couple of reasons.
To put the challenge into perspective, here's the revenue Facebook made per user geography last quarter:
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Notice how the lion's share of revenue comes from North America, Europe, and Asia — the regions of the world with the highest concentration of internet-connected people.
These internet addicts (American consumers spend an average of 5 hours a day on their mobile devices, according to one report) are the ideal audience for the companies that advertise on Facebook. A Facebook user in North America or in Europe has a decent amount of disposable income to spend on consumer goods compared to someone in the developing world.

 READ MORE: Steve Cohen is about to find out if he's the most notorious hedge-fund manager in America or 'the best investor of all time'

Building roads and highways

But the next group of prospective Facebook users won't be nearly as lucrative to the company. And Facebook will have to spend more money to reach them.
Facebook knows that it will eventually hit the limit of people in the world with internet access. That's why it's building drones to beam internet access down to Sub-Saharan Africa, subsidizing WiFi stations in India, and paying telecoms to offer Facebook in rural areas.
These kinds of things are not cheap. Facebook's capital expenditures increased to $4.5 billion in 2016, compared to $1.83 billion two years earlier.
Facebook doesn't disclose its cost to acquire a new user. But it's probably not a stretch to assume that whatever the number is, it will increase as the company is forced to invest more on building the infrastructure itself to acquire the users.
In other words, Facebook's future involves spending more money to amass less valuable users.


Beware of Nigerian Business Scams

The world is full of businesses that generate a lot of money but where there is money, there will be scammers to try to cheat you of your dollars. We all know that trillions of dollars come in an out of a country every single day due to businesses doing transactions among each other in the form of import, export and investments. Therefore, it pays to be prudent than to be sorry.

Business scams can be found all over the world because the culprits operate from all over the world. The worst ones to be found are in Nigeria. This is not because Nigeria has brilliant scammers. No, they don't. In fact most can't even write properly. But why can they be so notorious with such limited creativity and resources? That's because the country is filled with scammers and the more there is to it, the more encounters and unhappy experiences there will be.

So why do people fail to see through to these scams and actually fall prey to them? This is because of one word; Greed. Greed is a feeling of wanting to have more of something you like, to the proportion that is larger than what you have ever had before. It also makes you blind to other conflicting signs or clues that the source of the object which you desire is actually not legitimate at all. The power of greed is so great, that even professionals that are intelligent will fall for them, not just once but over and over again.

Therefore, when faced with the prospect of an unrealistic business deal which promises very high return with very little work on your part, then you ought to be careful about it. I am not saying that one should skip and pass all great business deals with high margins. That would be foolish. The advice I am trying to bring forth is that one should always study the details and fine prints carefully no matter what deals you are involved in.

In my blog I would like to share with you a recent scam attempt by a bunch of Nigerian con men, who tried to swindle my company. The tactic they use is to pretend to want to buy a substantial amount of goods from us and ask for a transaction fee before they pay the full amount in cash in advanced. The money they want to swindle from us is not huge, but the strategy they use is very common and I want you to understand that the reason why they still employ this strategy is because it still works.

The lure is a deal worth USD400k. Not too big to be unrealistic for my company yet enticing and attractive with great margins. This is always the same core strategy these business scammers use in order to swindle companies and even individuals who are naïve enough to believe the con men. To pay a price that appears to be small in comparison to the false reward they dangle in front of you.



There is a great deal of confusion about the nature of an entrepreneur versus an inventor. An entrepreneur falls in love with the organization and will do almost anything to ensure its survival and growth, An inventor falls in love with the invention and will only reluctantly modify the invention to make it more commercially feasible.
The development of a new venture based on an inventor’s work often requires the expertise of an entrepreneur and a team approach, as many inventors are unable to focus on just one invention long enough to commercialize it. Inventors really enjoy the process of inventing not implementing.
An inventor is an individual who creates something for the first time, is a highly driven an individual motivated by his or her own work and personal ideas. Besides being highly creative, an inventor tends to be highly educated, with college most often postgraduates degrees, has family, education and occupation experiences that contribute to creative development and free thinking; is a problem solver able to reduce complex problems to simple ones; has a very high level of confidence; is willing to take risk; and has the ability to tolerate ambiguity and uncertainty. A typical inventor places a high premium on being an achiever and measures achievement by the number of inventions developed and the number of patents granted, An inventor is not likely to view monetary benefits as a measure of success.
Entrepreneur always monitors the play habits and toys of her nieces and nephews, this is her way of looking  for any unique toy product niche for a new venture.
Although most entrepreneurs do not have formal mechanisms for identifying business opportunities, some  sources are often fruitful.    



Another individual characteristic among entrepreneurs that has been studied is gender. There has been significant growth n female self-employment, with women now starting new ventures at a higher rate than men. In fact, women are starting businesses in the United States at twice the rate of all businesses and are staying in business longer. According to the latest data from the census bureau and the small business Administration’s (SBA) office of Advocacy, 28% of all private companies are women owned businesses, the census bureau survey of businesses found 6.5 million companies had female owners, and 2.7 million were equally owned by the males and females. 

Women owned businesses grew at twice that national rate for all private companies from 1997-2002. Nearly one-third of women owned business are connected with health care facilities and social services. Much is known about the characteristics of entrepreneurs, their motivations, background, families, educational backgrounds, occupational experiences, and the problems of both female and male entrepreneurs.

Thou the characteristics of both gender are so similar.Female entrepreneurs are differs in terms of motivation, business skills, and occupational backgrounds. Factors in the startups process of a business for male and female entrepreneurs are also different, especially in such areas as support systems, sources of funds, and problems. 

The major differences between male and female entrepreneurs are easily to be stated, Men are often motivated by the drive to control their own destinies, to make things happen, This drive often stems from disagreements with their bosses or a feelings that they can run things better. In contrast, women tend to be more motivated by the need for achievement arising from job frustration is not being allowed  to perform and grow in their previous job situation.


The most effective method to Make Sure Your Business Survives in 2017

The soundness of any business is not ensured for eternity. Sooner or later, for all intents and purposes each little and average sized business hits grieved waters so this could be a troublesome year on the off chance that you claim an independent business.
It is difficult detecting the early indications of inconvenience. Pivoting the fortunes of a bothered business is a considerable assignment, however in the event that you are concerned, you have to hop on it immediately. Treat it like an emergency in light of the fact that without that sort of mentality it's difficult to force yourself to make critical move straightaway But the good thing is that in the event that you demonstration quickly and definitively, it is conceivable to overcome and skip back more grounded than some time before.
After  a long time research been conducted mainly oh how a business can survive, Here are the 6 different areas that you ought to take a an  insight at and the inquiries that you ought to request that all together secure the feasibility of your business in the year ahead.

1: Individuals.
      Do you have the correct individuals running and working your business? If not, dispose of the            ones        who are not performing. To survive, you require "the ideal individuals on the track". Are       the workers      who are the correct ones appropriately rewarded and boosted?

2. Performance:
      Is the business objective orientated? Are your procedures and strategies effective and systemised?

3. Products and services:
     You have be 100% sure that your clients are satisfied with your offerings?

4.  Clients:
      Is your business focused on beneficial clients? Or, on the other hand would you say you are               concentrating excessively on unrewarding or troublesome clients? Where are your clients at this         moment regarding their brain and temperament? For instance, would they say they are peppy or           cynical, would they say they are curtailing and how are they spending their cash at this moment?

5. Procedure. Re-assess whether your business is as yet significant and centered. What makes your business emerge from your opposition? Return to your showcasing system on the grounds that the greater part of business thoughts come up short, not on account of an awful thought, but rather as a result of terrible promoting. Ensure you know how your clients are responding to your messages.


Why Social Media Advertising Is Very Important For Your Business


We all know People all over the world are addicted to social media in these present Era of technology which includes Facebook, Twitter and YouTube, Whatsapp,  Instagram, Snapchat Google Allo and lots more. Just take a look at the stats of the above mention social media platform to realize the impact of using these platforms for marketing. But do you have to use your online presence to maximize your profit?
With the present modern and technological world, having  an active social media presence is considered essential to building your Business and product visible to targeted audience . By not using websites like Facebook, Twitter, YouTube as a means of marketing tool, you could be loosing and missing out on potential Customers who might need your product and revenue - Especially if you already Own a website or online store of  which you intend to sell your products or render a services.
You might as well be Confused about the impact that social media could have on your business and Need a more light on how to play along to hit your target. to learn more about why this method is so successful, Continue Reading to discover more.
Not every business owners knows this so you might just be lucky to get this post, Surely social media posts can as well also be used to drive targeted traffic from your customers to your website, blog and online store. Well-placed posts can make all the difference between a single user seeing your new page to an over 10000 targeted audience seeing it Daily. The most relevant features about using these popular platforms, you can actually control who sees it and who doesn't.
What's more, search engines like Google know which sites are being regularly visited and which have been neglected. This is what makes SEO {Search Engine Optimization } so effective - and regularly using social medias for business will boost your site's  SEO  Ranking above your competitors, earning it a higher place in search engine results.
Not only will you receive more customers by effectively managing your social media accounts, but you will also be able to communicate with them more directly and will make you active to responds to their messages and requests. These days, many people are hesitant to pick up their Mobile phone or write an e-mail about something when they can just come online in any of the above social media platforms and post it in 140 characters in half the time. Base on research it shows Facebook page receive more messages than contact us button on our websites.
So, by not using your Facebook, Twitter page, YouTube Channel as a company resource, you're missing out on valuable feedback from your customers - as well as great reviews that you could be citing on your website to attract future customers.
Communication is essential to any successful business, and by using Twitter or Facebook you will become more connected to your customers and even your competitors. The old saying 'keep your friends close and your enemies closer' really applies here - except they shouldn't become your enemies, you can learn from their successes and failures.
You can also use these sites as a tool for connecting with other complementary, non-competitive businesses, as well as journalists who cover your industry. Instagram is great for this, and isn't just about posting photos as many people believe. You can really make connections using Instagram platforms.
You also stand to gain more of an audience on Twitter through users 're-tweeting' your posts, particularly if they are interesting. It pays to be creative here, but don't hassle your followers with annoying posts and posting of links every time,  so that they won’t take your profile as junk. You'd be surprised how many people will respond with a re-tweet if you simply reply to their complaint or positive comment with class. Also a hashtag plays a vital role in all social media posting…#hashtag
Lastly, a strong social media presence will increase your brand loyalty. When you're actively engaging and interacting with your audience, you're able to form more personal relationships with your customers in a shared space.

Major Marketing Strategies Methods Proven To Work


Advertising has progressed significantly from advertisements in the daily paper. Presently, it appears to be each organization is contending on the web to get their items before the targeted audience.

There are a few distinctive approaches to do this, and all these will help expand deals and raise mark mindfulness.


Promoting organizations are known for directing exploration. There are even sites that compensation individuals to take overviews with the goal that promoting organizations can show signs of improvement thought of who their intended interest group is. This examination is a standout amongst the most critical parts of promoting.

At the point when organizations set aside the opportunity to do their own particular research or burn through cash on an organization to do it for them, they will realize who their intended interest group is. This will be the reason for their web-based social networking posts, promotion crusades and the sky is the limit from there.

It is unrealistic to connect with clients without knowing who the client is. That is the place Research comes in.


Top 'Risk Free' Steps To Starting An Online Home Business

When beginning an online home business you require something to offer. That could be an item or an administration. In any case, there are a few difficulties you will experience. You need to create something that individuals will need to purchase. You'll need to orchestrate installment frameworks dissemination to get your items to the client. You'll additionally require some kind of profits arrangement and client support for any questions concerning your product.

Clearly this is all conceivable the same number of online biz work along these lines. But, when you're beginning an online business undertaking these issues can regularly be a hindrance to really beginning.

In any case, there is another straightforward approach to create an online wage. It's a hazard free method for taking in the ropes and gaging the market before making your own particular item.

Beginning An Online Household Business The Easy Way

The most straightforward method for beginning an online domestic venture is to offer other individuals' items and benefits and get paid a commission when a deal is made. You discover an item you like, elevate it to others, and gain a bit of the benefit for every deal that you make. The item proprietor deals with the installment frameworks, conveyance and client inquiries. This business model is called partner promoting. Here are the 6 stages to beginning.

1. Begin With Items You Like

There are items in pretty much every market and specialty that you can offer as a partner. Begin with items that really intrigue you. On the off chance that you have an enthusiasm for what you're promoting, you'll have more in the same way as your intended interest group and be more arranged to put in the work to make your business fruitful.

2. Know Your Intended interest group

Regardless of whether you're offering your own item or offering items as a partner you need a plainly characterized target group of onlookers. Go for a little, specialty advertise, instead of attempting to endeavor to break into a gigantic one.

3. Pick The Correct Associate Projects

The correct associate program can truly set destined for success and help you to build up your online household venture. Be that as it may, the wrong member program will squander both your time, your cash and your online notoriety.

4. Construct A Site

In case you're not kidding about beginning an online locally established, you'll need to have your own site. Your very own site will build up you as an expert in your picked specialty. There are a lot of online stages that can get your site online rapidly and effectively.

5. Direct people To Your Site

Activity is the life-blood of any online business. You have to motivate individuals to visit your site so they can purchase your items and services.There is site movement that you can purchase and site activity that is free. A decent technique is to have a blend of both paid and free movement systems.

6. Build up A Rundown Planned Clients

One of the key components for a fruitful online locally established businesses is a having rundown of imminent clients. This rundown is the names and email locations of individuals who have deliberately given you their consent to send them messages about your items and administrations. You can catch messages with an email select in shape on your site.

As a member advertiser you don't need to stress over making items, arranging installment frameworks, orchestrating item conveyance or dealing with client questions. The item proprietor does the majority of that. Building an associate promoting site is generally how the vast majority of us begin our own online domestic undertaking.


Chi farms kicks off training for 1000 fish farmers

fish pond

Chi Farms Ltd. has successfully concluded the training and certification of a pilot group of smallholder fish farmers. A group of 22 women were trained in Best Practices in Professional Fish Farming at one of the company’s catfish hatchery sites in Sagamu, Ogun State. The women were trained in areas such as pond preparation, water management, record keeping and fish farming as a business.
The company also signed partnership agreements with all fish farmers to assure supply of high quality catfish juveniles, quality fish feed, and continuous technical support.
With the agreement, the pilot group will cooperate with Diamond Bank Plc. agriculture team that provides working capital finance for farmers. The group is the first 22 of 500 farmers in the South and 500 farmers in the North that Chi Farms will partner with under a United States Agency for International Development (USAID) supported technical assistance program.
The objective of the program is to contribute to food security in country by increasing the local production of affordable food.Speaking on the training programme, Executive Director, Chi Farms Ltd Martin Middernacht said, “Chi Farms will also buy back table size catfish from associated farmers and make it available in major markets. The quantities of catfish we produce and supply to local markets under this program will measurably increase availability and affordability of food.”
He added that with support by the USAID, the firm is committed to conducting significant investments into the expansion of its feed milling and catfish hatchery capacities.


How a Nigerian Makes Over N200,000 Monthly From Paper Waste!


I am super excited to share this post with you because it is a story of a Nigerian-inspired business. This is a very rare business idea that any “right-thinking” person will dismiss and ignore. But you’ll be amazed beyond your wildest imagination that a Nigerian man (yes, a Nigerian with same challenges and obstacles like you have) is making over N200,000-N300,000 from it.

This story only reminds me that there’s no end to what we can achieve if we could only believe in our ideas and start with the little resources we have at hand. This story gives me a reason to believe and dream. I think you’ll be motivated too.

“NECESSITY has led some creative people to seek solutions to the problems of packaging commodities like gift items, books, food, medicines and other light articles bought in departmental stores and the open market for customers.
These group of designers are turning around materials some companies and schools, including individuals, consider as waste to gold. They go around collecting items like papers and cutting them into different pack shapes and sizes.
After cutting, they stick them with adhesive; turning them to small bags shop owners could use to package light articles for their customers.
Apart from selling these small bags, which sometimes could be used as wraps, the designers often go to the extent of customizing them with logos and other vital information. Commenting on how he has been able to eke out a living from waste papers, Obierika said he went into it went he discovered that some small shops were finding it difficult getting wrappers for their customers; so he tried cutting some waste papers into manageable shapes that would assist shop owners as wrappers for their customers and it worked.
“All papers are important. We go to newspaper houses to buy their unsold and also to some individuals whose collections are much and they would want to do away with them. We buy them based on measurements. We get a bundle of 12-inch high newspapers within the rage of N200 to N500, but less for news magazines.
Newspapers are broader and one could get more cut outs from a paper. We also get other categories of papers like computer printouts. “After cutting them into bag shapes, we glue each with starch paste. Starch is lighter, cheaper and more durable than gum,” he revealed. On how he sells them, Obierika informs that the wrappers are sold in packs of 12 to 13 pieces, depending on who is buying them. “A pack goes for N200 to N500 depending on the size.

If well managed, we could get up to 1,000 packs of A4, 200 of A3 and a few hundreds of C4 from a bundle of newspapers. And as the sizes differ so are their prices. A3 goes for N250 to N600 per pack, while C4 goes for N300 to N650, the bigger the packs the higher the price.
“The business is good. Imagine with a bag of local starch costing N10,000 one could get the wrappers done and make five times my overhead. It’s a business that involves steady supply of waste papers, which is the reason we depend heavy on newspaper companies and schools.
Though, we sometimes get computer printouts from some organizations, they do not always come all the time, except towards end of the year,” he said. According to Michael Gbenga, who brands his wrappers with client’s logos, the wrappers come better if laminated.
“I have two categories of customers, the general customers that just come to us for the packs, buy and go to the open market to resell them; and those that want theirs laminated with their logos on it. The laminated pack bags are more expensive and beyond the everyday sellers. “I use different kind of papers, including cement papers.
I do this because different buyers want the bags for different purposes. While traders that deal on dry items like the medicine store or confectioneries go for any kind of paper bags, chophouses go for the ones whose imprints would not appear on their food or change its taste, which is the reason they prefer theirs to be laminated,” he disclosed.

Looking at the business from Gbenga’s angle, one would think a potential investor would need a whole lot of money to go into the business, but Adebola Akinwale says it depends on how one wants to come into it. “ Starting small, all you need would be a bench, a ruler, cutter and a brush.
You may also need a pot or big bowl to mix the starch that would be used to add adhesive on the edges of the cutouts. The good thing about the business is that you can start it from your home. “ I started small with N10,000 from my house, but today I have six people helping me.
And I have moved the business from my home to a rented apartment because it was growing rapidly and to meet up with demands I had to move to a bigger space,” he disclosed. Commenting on what keeps him in business, he said the profit is too attractive to make anybody that has had a peep of it to remain in the business.

“Look at it this way, I bought a 12-inch high bundle of newspapers or magazines for N200 to N500 and with just two or three of the magazines I could recoup what I spent, especially if they are of 60 pages.
With two or three magazines you get 30 to 45 pieces of A4 size bags, which might be sold for at least N200 per dozen; then the question is what happens to the rest that might be in the neighborhood of 60 to 70 copies? The profit margin is high, but you must work because cutting and measurements do not come easy. “I started the business 10 years ago as a student, but today I am not regretting still doing it because it has provided all I need.” – MAVERICK EXCEL BLOG


FG Asks CBN To Extend BVN To Microfinance Banks

The Federal Government has asked the Central Bank of Nigeria (CBN) to extend the requirement for the Bank Verification Number (BVN) to account holders in microfinance banks.

The Minister of Finance, Mrs Kemi Adeosun, stated this in a letter to the CBN Governor, Mr Godwin Emefiele.
She explained that this would help to identify bank accounts which might have been opened and operated for ghost workers by fraudulent syndicates.
The use of BVN for bank transactions is only limited to account holders in the deposit money banks.
The CBN had in September 2016 announced plans to extend the BVN exercise to the microfinance banking sector.

However, the apex bank is yet to implement the extension.

NCC, CBN Get Reprieve For Etisalat

The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have succeeded in halting an attempt by Etisalat’s creditors to take over the company.
A statement by the spokesman for NCC, Tony Ojobo, said reprieve came for the mobile network operator during a meeting held on Friday.
According to the statement, receivership was completely taken off the table in a meeting that was very productive and constructive.
“The meeting, which held at the CBN Office in Lagos, had the consortium of banks being owed and Etisalat in attendance. The banks and the mobile network operator agreed to concrete actions that will bring all parties closest to a resolution.
“The CBN and NCC were able to secure for Etisalat the necessary oxygen to enable it continue to meet urgent operational expenses.
“CBN Governor, Mr Godwin Emefiele, who chaired the meeting, was firm in declaring what needed to be done by both parties towards a quick resolution. The NCC equally made it clear that everything necessary must be done to protect the 23 million Etisalat subscribers and also protect the telecom industry to prevent potential investors from developing cold feet.
“Meanwhile, in a renewed effort to ensure that Etisalat remains in business while the consortium of banks meet their obligations to their customers, a meeting will hold on March 16 to agree on a payment restructuring path going forward.
“The NCC will lead the CBN in a possible crucial meeting with Etisalat’s shareholders anytime soon,” the statement read.

Finance Minister Says N5.1trn Released From 2016 Budget

The Federal Government has so far released ‎the sum of 5.1 trillion Naira out of 6.06 trillion Naira passed by the National Assembly in the 2016 budget.

The Minister of Finance, Kemi Adeosun, said this on Wednesday at a meeting organised by the Joint National Assembly Committee on Appropriation in Abuja, Nigeria’s capital.
Mrs Adeosun told the committee members that despite the shortfall in revenue in 2016, the Federal Government has so far released 870 billion Naira for capital expenditure, excluding the proceeds from the Eurobond.
However, the Chairman of the Senate Committee on Appropriation, Senator Danjuma Goje, sought to know if the Ministry of Finance diverted funds from loans to finance personnel expenditure rather than capital expenditure.
He also expressed dissatisfaction with the absence of the ‎Governor of Central Bank of Nigeria (CBN) at the stakeholders meeting on implementation of the 2016 budget.
Senator Goje noted that the Acting Director from CBN, Mohammed Yakubu, was not competent to speak before the Joint committee, insisting that the CBN governor must appear before the committee latest Friday morning.
“We have left serious business of processing 2017 budget to ensure the level of implementation of the 2016 budget. It is Nigerians’ right to know the level of implementation.
“The CBN governor could not call us, he only sent an Acting Director in the CBN to appear before the committee,” he said.
Giving details of releases for 2016 budget before the committee, the Accountant-General of the Federation, Hammed Idris, informed the lawmakers that 870 billion Naira was released for capital projects which constituted 55%, while 2.3 trillion Naira was released for personnel cost and 351 billion Naira for statutory transfer.
Mr Idris added that 1.3 trillion Naira was meant for debit servicing, service wide votes for 285 billion Naira while overhead was 138 billion Naira.
He explained that personnel cost and debit service were achieved 100%, overhead cost achieved 85% while capital was achieved 55%.
On his part the Director-General of Budget Office, Ben Akabueze, said there was a shortfall of 1.1 trillion Naira in targeted Internally Generated Revenue (IGR) for 2016, explaining that only 398 billion Naira was realised in 2016 IGR out of targeted 1.5 trillion Naira.
He‎ attributed poor capital funding in 2016 to revenue shortfall, stressing that projection oil revenue only accounted for 20% of the total 2016 budget.
Mr Akabueze said “the reason we are unable to implement capital budget fully is as a result of shortfall in the IGR”.

He, however, failed to give a clear picture of how the loan borrowed was utilised, but promised the lawmakers for details before the end of implementation of 2016 budget.

Federal Government To Invest $286mn In Fertiliser Project

The Nigerian Government will this week begin the implementation of a fertilizer project expected to enable the country conserve its foreign exchange by about 1.5 billion dollars in the next three years.
Planned through the Nigerian Sovereign Investment Authority (NSIA), over 286.4 million dollars or 87.2 billion Naira is to be invested for the blending of one million metric tonnes of fertiliser.
The blueprint consists of future generation fund, infrastructure fund, and fiscal stabilisation fund.
The NSIA had allocated 20 per cent of some proceeds to the stabilisation fund while 40 per cent has been set aside for the future generation fund and another 40 per cent for the infrastructure fund.

Naira To Trade Within Narrow Range In Coming Days

 The Naira is expected to trade within a narrow range in the coming days, with the Central Bank of Nigeria (CBN) injecting more dollars into the market.

The local currency was quoted at 463 Naira per dollar on the black market on Friday, weaker than the 450 Naira to a dollar level last week.

The local currency was quoted at 463 Naira per dollar on the black market on Friday, weaker than the 450 Naira to a dollar level last week.
Commercial lenders quoted the Nigerian currency at 305 Naira 80 Kobo to a dollar on the inter-bank market, compared with 305 Naira 50 Kobo it closed at last week.
News also came in during the week that the Federal Government in its Economic Growth Recovery Plan, said the current ban on 41 items from accessing Foreign Exchange (FX) in the inter-bank FX market would be reviewed.
The influx of dollar into the market is part of plans by the apex bank to narrow the margin between official and parallel market exchange rates.
This followed the latest data by the CBN which revealed that Nigeria’s Foreign Exchange Reserves which have experienced a steady increase since January 5, 2017 rose above $30 billion this week.
Experts attributed the increase to the recovery in crude oil prices which have soared, following the output cut deal agreed between OPEC and Non-OPEC members on January 1.
The last time the reserves crossed the $30 billion mark was in July 2015, where it went as high as $31.63 billion in August 2015 before it began to decline.


What Is Branding.

There are lots of different ideas about what branding is, and why we should do it.

There are several types of branding strategy, the first type of branding strategy is “defensive branding” the other is called “direct branding.”

Defensive branding is about preventing loss of market share. We see ads from multinationals like Apple, Lexus, McDonalds, Marks and Spencer and others – who run multi-million dollar “conceptual” ads, they take pages in newspapers, magazines, and TV.

They have achieved massive success with their products and services, and their branding strategy is to make sure that no one forgets them. These companies are at the “top of the food chain” in their sector and this is literally a strategy designed to protect their position and prevent loss of market share.

“Direct branding.” Is a strategy that combines direct marketing with intentional branding strategy, to promote growth and win market share

Consider FedEx. They used to be called “Federal Express.” When they first started, they had a tight, focused marketing campaign, based on a powerful “unique selling proposition.” You might remember it:

“When it Absolutely, Positively has to be there overnight.”

This was a key part of the marketing strategy that helped them grow to a billion dollar company. It’s a straightforward, powerful marketing message that makes permanent associations in the mind of the customer for the long-term. It’s direct branding.

Then when they had a huge empire to defend they switched to a “defensive branding” strategy. They shortened their name to FedEx. And they changed their unique selling proposition, and evolved it into a more general tagline. Now their motto is: “The world on time.”

People are not likely to remember “the world on time” when they need to send a package. But it does make a statement that consumers know who the company is and what it can do, it doesn’t need to be spelt out any more.

Using an image-based, defensive branding strategy costs a lot of money, and it’s not the right strategy for a growing company with a tight budget.


10 great ways to treat your customers.

Customers are been referred to as a person who buy products and services, they may also be referred to as a CLIENT or BUYER.
A CLIENT might as claimed as a person who pays for a professional or advice of another expert, those who patronised a lawyer,estate agent, surveyors can be referred to as a client, but those who buys goods or products is a customer..Although customer is the popular word use to classify the both client and buyer.

Here are the top ten ways to treat your customer to their satisfaction.
(1). Respect your Customers: respecting your customers means you are building the future for your business. Rude to them? Then you ruin your business
(2). Always listen to what they have to say: ignoring or avoiding what they have to say will put your business at stake, because you will learn from your mistakes through your customer.
(3). Take them as partners in business: as you already know that feedback is an important key for a successful business so you need to work hard on it, let them know that their opinion really matters to your business, Customers are always happy to see that their suggestions in put into consideration.
(4). Be Honesty: try to be a straight forward person and never for once or think of cheating your customers or your co-business partners.
(5). Make their satisfaction your first priority: sacrifice your time to satisfy them and make them realize why they need a certain product even when they don't come because of it.
(6). Always show appreciation: Always show appreciation for what ever they buy no matter how little the price is. Thank them for patronizing.
(7). Adopt these words (CUSTOMER IS ALWAYS RIGHT): Are they at fault or you do? Just take the responsibility and make them understand why these product is good or why it spoils.
(8). Keep to your Promises: Always try and fulfil your promises towards your customers, either base on discounts.
(9). Offer free services to your customer either for a specific period of time.
(10). Presents Gifts to them even and pay them a visit a home or in office and feel to know why you have not been seeing him that you feel concern and decided to check how they are doing, if possible go along with a little gift, and I bet you they will never stop buying from you.


Top 10 Secrets of Successful Entrepreneurs

Maintaining a one-individual business is an inventive, adaptable and testing approach to end up distinctly your own particular manager and diagram your own future. It is about making an existence, as it is about bringing home the bacon. It takes boldness, assurance and premonition to choose to end up distinctly a business visionary. From the generally safe case of the corporate world, where paychecks arrive frequently, you will wander into the unchartered regions of business.

Is there an approach to figure out if you can be a fruitful business visionary, or you are in an ideal situation to work for another person? Too bad, there is no equation for achievement. Nonetheless, best business people share these ten qualities. Check in the event that you have any of them:

1. Think achievement. To achieve the sort of accomplishment that you need, you have to think beyond practical boundaries. Each example of overcoming adversity begins with huge dreams. You need huge dreams for yourself - which you need to be some individual rich, well known or satisfied. You need a reasonable vision of what you need to accomplish. In any case, it doesn't stop in envisioning alone. You ought to effectively envision achievement in your mind that you can nearly feel it, touch it or it is inside your scope. Play this picture back at each open door. What does it feel to triple your present salary? By what means will your life change? What will your business look like in the event that you accomplished the million-dollar stamp?

Effective business visionaries have a state of mind of openness and confidence that you can have what you need in the event that you can basically imagine it as the initial step on the way of activity to getting it. Administration masters have shown us the force of perception - seeing yourself in your psyche as having finished your fantasies. In the event that you need to be a fruitful author, imagine yourself marking books for a throng of individuals who have arranged to have your signature. On the off chance that you need to be rich, imagine yourself in lavish surroundings holding a fat financial balance. Furthermore, the way toward imagining accomplishment for you ought to be a consistent movement! You have to believe that you are effective (or will be one) each and every waking hour. A self-improvement mentor shared me her mystery to help her ceaselessly envision her objectives for the occasion: when climbing stairs, present your objective with each progression you take. So on the off chance that you need more cash, say "I will have cash" in each progression of the stairs. This system will fortify your objective and keep it new in your cognizance.

2. Be energetic with what you do. You begin a business to change any or all piece of your life. To accomplish this change, you have to create or reveal an extraordinary, individual energy to change the way things are and to live minus all potential limitations. Achievement comes effectively on the off chance that you cherish what you do. Why? Since we are more steady in our quest for objectives about things that we adore. On the off chance that you despise your occupation at this moment, do you think you will ever be effective at it? Not in a million years! You may trudge along, even get to be distinctly skillful at the assignments, however you will never be an incredible accomplishment at it. You will accomplish crest execution and do what you need to do to succeed just in the event that you are accomplishing something that interests you or something that you think about. Business people who succeed wouldn't fret the way that they are putting in 15 or 18 hours a day to their business since they totally adore what they do. Achievement in business is about persistence and diligent work, which must be accomplished on the off chance that you are enthusiastic and insane with your errands and exercises.

3. Concentrate on your qualities. Let's be honest; you can't be everything to everyone. Each of us has our own qualities and shortcomings. To be successful, you have to distinguish your qualities and focus on it. You will turn out to be more fruitful on the off chance that you can channel your endeavors to ranges that you do best. In business, for instance, on the off chance that you know you have great promoting senses, then bridle this quality and make full utilization of it. Look for help or help with ranges that you might be poor at, for example, bookkeeping or accounting. To change your shortcoming to quality, consider grasping hands-on learning or formal preparing.

4. Never think about how possible it is of disappointment. Ayn Rand, in her novel The Fountainhead, kept in touch with, "It is not in the way of man - nor of any living substance, to begin by surrendering." As a business person, you have to completely have confidence in your objectives, and that you can do it. Imagine that what you are doing will add to the advancement of your surroundings and your own self. You ought to have a solid confidence in your thought, your abilities and yourself. You should accept without question that you can perceive and satisfy them. The more you can create confidence in your capacity to accomplish your objectives, the all the more quickly you can achieve it. In any case, your certainty ought to be adjusted with ascertained dangers that you have to take to accomplish more noteworthy prizes. Effective business visionaries are the individuals who investigate and limit hazard in the quest for benefit. As they generally say, "no guts, no radiance."

5. Arrange in like manner. You have a dream, and you have enough confidence in yourself to trust that you can accomplish your vision. Be that as it may, do you know how to get to your vision? To accomplish your vision, you need solid objectives that will give the venturing stone towards your definitive vision. Expressly stated your objectives; not doing as such just makes them as immaterial dreams. You have to arrange every day in a manner that your each activity adds to the accomplishment of your vision. Do you anticipate yourself as the following Martha Stewart of hand-made home furniture? Maybe today, you have to see a craftsman to help you conceptualize the new line of hand-made cloths that you would like to dispatch. Extreme objective introduction is the normal for each fruitful business visionary. They have a dream, and they know how to arrive. Your capacity to set objectives and make arrangements for your achievement is the expertise required to succeed. Plan, plan and plan - on the grounds that without which disappointment is ensured.

6. Buckle down! Each fruitful business visionary buckles down, hard and hard. Nobody makes progress just by sitting and gazing at the divider each and every day. Brian Tracy puts it out along these lines, "You work eight hours for every day for survival; everything more than eight hours for every day is for achievement." Ask any fruitful businessman and they will let you know instantly that they needed to work over 60 hours for each week toward the begin of their organizations. Be set up to state farewell to after-office drinks each day, or a consistent end of the week escape trip. On the off chance that you are in a start-up stage, you should inhale, eat and drink your business until it can remain all alone. Buckling down will be simple on the off chance that you have a dream, clear objectives, and are enthusiastic with what you do.

7. Continually Look for Ways to Network. In business, you are judged by the organization you keep - from your administration group, governing body, and key accomplices. Organizations dependably require help, all the more so independent companies. Possibly the woman you met in an exchange affiliation meeting can help you secure subsidizing, or the man of his word at a gathering can furnish you with administration exhort. It is imperative to frame organizations together with individuals who can help you, and whom you can help consequently. To prevail in business, you have to have great systems administration aptitudes and dependably be aware of chances to extend your contacts.

8. Eagerness to Learn. You don't should be a MBA degree holder or PhD graduate to prevail in your own business. Truth be told, there are a considerable measure of business people who did not complete auxiliary instruction. Ponders demonstrate that most independent tycoons have normal insight. In any case, these individuals achieved their true abilities accomplished their monetary and individual objectives in business since they will learn. To succeed, you should will to make inquiries, stay inquisitive, intrigued and open to new information. This ability to learn turns out to be more significant given the quick changes in advances and methods for working together.

9. Drive forward and have confidence. Nobody said that the street to achievement is simple. Regardless of your great goals and diligent work, now and again you will fizzle. Some effective business people endured difficulties and reverberating annihilations, even chapter 11, yet figured out how to rapidly face become famous in their fields. Your fearlessness to hold on despite misfortune and capacity to bob back after a transitory dissatisfaction will guarantee your prosperity. You should figure out how to lift yourself up and start from the very beginning once more. Your perseverance is the measure of the faith in yourself. Keep in mind, in the event that you don't drive forward anything, can stop you.

10. Teach yourself. Thomas Huxley once stated, "Do what you ought to do, when you ought to do it, in any case." Self-train is the way to achievement. The quality of will to drive yourself to pay the cost of achievement - doing what others don't prefer to do, going the additional mile, battling and winning the forlorn fight with yourself

Top 10 Amazing Web Promotion Methods To kick Start Your Sales.

Hi, do you have a site and offer something on the web?

On the off chance that yes, may I offer you 10 astonishing approaches to kick off your deals at your site!

1. Locate a vital business accomplice. Search for ones that have a similar target. You can exchange drives, share showcasing information, offer bundle bargains, and so forth.

2. Mark your name and business. You can without much of a stretch do this by simply composing articles and submitting them to e-zines or sites for republishing.

3. Begin a sale on your site. The kind of closeout could be identified with the topic of your site. You'll draw activity from barkers and bidders.

4. Keep in mind to remove a little time from your day or week to conceptualize. New thoughts are typically the distinction amongst achievement and disappointment.

5. Display other fruitful business or individuals. I'm not saying out right duplicate them, but rather rehearse a portion of similar propensities that have made them succeed.

6. Go for broke to enhance your business. Here and there organizations would prefer not to publicize unless it's free, some of the time you need to burn through cash to get comes about.

7. Incorporate passionate words in your commercials. Utilize ones like love, security, alleviation, opportunity, cheerful, fulfillment, fun, and so on.

8. Request that individuals online audit your site. You can utilize the remarks you get the opportunity to enhance your site or you may transform the commentator into a client.

9. Out source a portion of your workload. You'll save money on most worker expenses. You could out source your secretarial work, bookkeeping, promoting, and so on.

10. Consolidate an item and administration together in a bundle bargain. It could build your deals. In case you're offering a book, offer a hour of counseling with it