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Does Your Business Need a Robot

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If you’re looking to adopt a robot in your workplace, there are a lot of things you need to consider first. While robots boast tons of benefits, there’s also the potential for a large negative. If you can’t really afford the robot, that negative is some serious debt that you may not be able to climb back out from underneath. Robots are amazing, but only if you can actually afford them.

Can your small business afford a robot?

1. How Much Are You Spending on Labor?

Some small businesses opt to purchase a robot that will act as an employee. Over time, the idea is that robots will reduce labor costs. They can also reduce costs on things like health insurance, sick days, vacation time, and compensation for workplace accidents or injuries. When you consider the savings, it almost seems foolish not to get a robot.

If you have nest egg or some type of reserve specifically for labor, you’re going to have to forego hiring or phase a few people out in order to smoothly transition into automating a set of job duties with a robot. It’s logistically complicated as well as financially complicated, and you need to review the books to ascertain that you’re in the right position.

2. What Are Your Other Goals?

What’s more important right now? Do you want your business to be larger? Do you want to open a second location? Do you want to expand your range of products or services? A robot can help you do that, but a robot can’t do it by itself. You’re going to need to set the proper stage for whatever goal you’re attempting to achieve before you bring in a robot. If you spend all of your goal budget on a robot, you won’t have any capital left to approach the goal from all angles. Set yourself up for a productive future first.

3. What Other Costs Will You Encounter as a Result of Getting a Robot?

Robots are expensive at their initial investment. They also need to be maintained, and they need someone to operate them. Some robots can be fully automated, but others have special needs. A handful of modest robots that aren’t exceptionally complicated can probably be maintained by a single individual, but this is someone else you’ll need to hire or train to do the job. For this reason, it’s better to wait to purchase a robot or multiple robots when you can safely, comfortably afford the large investment. You’ll save in the long run, but you don’t want to be broke in the meantime.

4. Do You Have Any Additional Income Streams You Can Use?

You might not be able to afford a robot directly out of your profits. If that’s the case, look for additional income streams you can use to fund the venture. You can worth with investors or traders who are interested in your business, and ask them to fund a robot. It should be relatively easy to explain the value a robot will bring to your business.

If you can’t find someone else to fund your robot, you can trade or invest with a small portion of your profits in order to help your funding grow. This might take a little longer, but it’s far wiser than spending money you don’t necessarily have as a liquid asset. If you aren’t making enough money to invest, you always have the option of a very slight price increase that can be put directly towards investments. Even if it seems insignificant, it will amount to a substantial amount over time.

5. Is a Robot Worth The Money?

What purpose is a robot going to serve in your small business? Make sure you’re not looking into robots to replace humans in contexts where humans are absolutely necessary. Robots that automate monotonous tasks, improve quality and consistency of production, reduce margin for error, and make the workplace safer are typically wise investments. Robots just for the sake of having robots won’t help you grow or advance yourself. If you have a lot of extra money to spend, purchasing a robot that boasts limited advantages may not be that big of a deal. When you’re strapped for cash, it’s best to stick to robots that provide a clear return on your investment.

Timing, budget, and need are coequal factors in determining whether or not it’s the right time for a robot. If it’s not the right choice to make tomorrow, that doesn’t mean it won’t be the perfect decision next month. Start planning now, and implement it when you feel it’s financially safe.

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Brand Envoy Africa wins Africa’s Most Innovative Marketing and Creative Agency Award

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Brand Envoy Africa Limited wins “Africa’s Most Innovative Marketing and Creative Agency of the year 2019” at the African Brand Leadership Merit Awards. 

After findings from the award technical committee research report showed that Brand Envoy Africa limited had creatively marketed brands they worked with providing amazing mileage and uptake for their clients products. The award was presented to Brand Envoy Africa on Friday, August 23, 2019, in Lagos. It was received by Mrs Anulika Jade Obike, Events Director at Brand Envoy Africa Limited, Mr Ogwo Emmanuel, Head Research and Strategy and Mr Obike Temple,  Brand Envoy’s Managing Director. A special vote of thanks by the MD went to members of the Brand Envoy Africa team who were absent but played key roles in making this a reality Michael Egbo, Babatunde Afuwape, Onyedikachi Ikwumere and everyone else.

In response to the award, the Brand Envoy Team expressed their joy and said as “Brand Envoy Africa wins Award for “Africa’s Most Innovative Marketing and Creative Agency of the year 2019” , it was testament to the fact that the brands dedication to quality and providing it’s clients and their customers with quality service was not an effort in futility.

Brand Envoy Africa Limited, one of Africa’s leading marketing and creative agencies emerged “Africa’s Most Innovative Marketing and Creative Agency of the year 2019” at the African Brand Leadership Merit Awards.

 

As a young growing marketing brand with an eye for quality work, Brand Envoy Africa is poised to become Africa’s top marketing agency. In a speech by the Managing Director Mr Obike Temple, he mentioned the humble beginnings of the brand and it’s evolution to a brand that now uses the power of Artificial Intelligence (A.I) and data in developing marketing solutions for clients. He also mentioned that

“The research and media team headed by Mr Ogwo Emmanuel and experiential events arm headed by Mrs Jade Obike were powerhouses to what they did as a company. Our passion to deliver on results is at the core of what we do”.

 

Mrs Jade Obike mentioned that Brand Envoy Africa was fast becoming a Creative Marketing Brand making an impact across Africa and the world at large.

Brand Envoy Africa wins Africa’s Most Innovative Marketing and Creative Agency

The African Brand Leadership Merit Awards constitute an initiative of the African Brand Congress (ABC).

According to a statement by the Congress, the African Brand Congress is an annual fiesta of best brains behind most successful and sought after African brands.

 “The Congress is designed to educate, engage and inspire Brand managers and professionals in the pursuit of best practice in brand building and value creation. It is an appropriate platform for all Brand owners and industry players to discuss how Brands in Africa can increase their Global competitiveness. It’s meant to share knowledge, ideas and challenges by industry icons”, the statement reads.

Brand Envoy Africa wins Africa’s Most Innovative Marketing and Creative AgencyThis award reaffirms Brand Envoy Africa’s dominance in Nigeria’s Marketing and Creative industry.

 

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24 Hours Across Africa

‘Develop viable gemstones, jewellery market’

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Experts have urged the federal government to develop an environment conducive for marketing gemstones, and jewellery, to increase their contribution to the national gross domestic product, (GDP).

They also said this would mark a milestone in the quest to build a vibrant mining sector with a wide variety of gemstones and precious metal for making ornaments for local and international markets.

According to experts at Stakeholders Consultative workshop on gemstones and Jewelry industry in Nigeria, the industry presents tremendous opportunities for investment and value addition and can employ people at different levels along the value chain, such as miners, goldsmiths, dealers etc.

Prof. Theo Smeets of the University of Trier, Germany, said the government has a lot to do to boost both local and international markets for precious metal, especially with the growing population of women.

He also noted that legal frameworks will equally galvanise the industry, and instead of exporting raw materials, citizens will be able to process them in-country and get more products in the local market.

Permanent Secretary, Federal Ministry of Mines and Steel Development, Dr Abdulkadir Muazu, disclosed that the industry could generate a total of $350 million worth of foreign exchange on an annual basis.

He also said Nigeria was so endowed with precious metal, “the key policy question we have asked ourselves is: ‘why has Nigeria not been internationally-recognised as an important gemstone destination?’”

According to him, Sri Lanka has a long history of gemstones, but it was its government’s commitment to reforms that began over three decades ago that has given her a globally-competitive edge.

“There is a huge international market potential for Nigeria’s gemstones, but it is losing vast business opportunities, value and revenue to illegal activities and smuggled to Germany, China, Brazil, U.S., etc.”

Contributing, Project Coordinator of MINDIVER, Utsu Linus Adie, said they are trying to reverse unfavourable market trend for gemstones, and create a robust jewellery market and promote export.

He equally said the government intends to develop a skilled workforce by creating community jewellery market in all the states of the federation within a five- year period.

“Our target is to emulate is India, who are today the global leaders in gems and jewellery, contributing 29 per cent to world jewellery consumption. We only generate $2 million worth of it.”

Reviewing gemstone resources, Niron Ajibade, maintained that there are many products, and when adequately harnessed will grow the nation’s economy; create jobs and wealth.

Ajibade therefore called on the government to build a sustainable jewellery industry by organising training programmes; create linkages, quality and assurance markets as well as finance the gemstone sector.

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