You’ve Got to Play Smart

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	Forwarded this email? Subscribe here for more Deal or No Deal? You’ve Got to Play Smart Olu from MSME Africa Jun 21   READ IN APP   Dear Entrepreneur, Let’s play a quick game: Thanks for reading MSME Africa Pulse! Subscribe for free to receive new posts and support my work. Pledge your support When someone tells you “Can you do it for less?”, do you: A) Smile and say, “Sure!” B) Squeeze your face and say, “Omo, this is my final price o!” C) Start sweating and whisper, “Let me get back to you...” If you picked any of the above, we need to talk. Because negotiation is not a street fight. It’s a soft skill with hard results. Whether you're pricing tomatoes at Mile 12 or sealing a 50million-naira partnership deal in Lekki,the way you handle the conversation matters. Let's face it, negotiation is a crucial part of doing business. Whether you're closing deals, securing funding, or haggling with suppliers, your negotiation skills can make or break your venture. But here's the thing: negotiation isn't just about getting what you want; it's an art that requires finesse, strategy, and a deep understanding of human psychology. In the world of business, negotiation is like navigating the Lagos traffic. You need to know when to accelerate, when to brake, and when to take a detour. And just like how you wouldn't drive without a map, you shouldn't negotiate without a plan. What You Need to Know About Negotiation: It’s not just about price:It’s about value.If you focus only on money, you’ll leave power, perks, and peace of mind on the table. You don’t get what you deserve, you get what you negotiate: Read that again. And paste it somewhere in your office. “Small talk” can lead to big wins: A little gist before the gist builds connection. That pre-meeting “How traffic?” may look like banter, but it’s softening the ground. Preparation is key: Understand the other party's needs, and anticipate their concerns. Research, research, research. It's like knowing the best routes to avoid traffic in Lagos! Know your worth (and back it up!): Your confidence is contagious. If you fumble, the other party will price you anyhow. Have a bottom line: There’s “flexing”, and there’s “selling yourself short.” Know where to draw the line. Ask questions: Instead of reacting, respond. Ask: “What’s your budget?” or “Can you help me understand the constraints?” Give options: Don’t just say “No.” Say: “At that price, here’s what I can offer.” Give them options to choose from. In this hustle life, those who negotiate well, live well. Your business success isn't just about what you offer, but how you present, price, and position it. Here’s what I have for you today: Trending Business News Opportunities Galore Fun Facts about Entrepreneurship Some Resources for you Trending Business News CAC to Increase Service Fees for Businesses in Nigeria from August 1 over ‘Economic conditions’ While the detailed breakdown of the revised fees is yet to be made public, the CAC urged stakeholders and the general public to prepare for the changes and expect further updates in the coming weeks. This development adds the CAC to a growing list of Nigerian government institutions adjusting their pricing structures to reflect current economic challenges. Read more FIRS Extends Tax Office Operations to Weekends in June to Ease Companies’ Filing Process The Federal Inland Revenue Service (FIRS) has extended the working hours of all tax offices across Nigeria to include weekends throughout June 2025. The decision is aimed at assisting companies to meet the statutory June 30 deadline for filing their Companies Income Tax (CIT) returns. Get more details HERE Meta Launches WhatsApp Monetization Features, Set for Global Rollout Meta, revealed that the Updates tab, which houses both Status and Channels, will now support Channel Subscriptions for exclusive updates, Promoted Channels for discoverability, and Ads in Status for business visibility. These features mark a significant expansion of WhatsApp’s business model and represent its most ambitious move yet into monetizing the platform. More details Here CBN Orders Banks Under Regulatory Forbearance to Halt Dividends, Bonuses, and Offshore Investments The Central Bank of Nigeria (CBN) has directed banks operating under regulatory forbearance to suspend dividend payouts, defer executive bonuses, and freeze new investments in foreign subsidiaries or offshore ventures. This temporary measure forms part of a broader effort to reinforce capital buffers and strengthen the overall resilience of Nigeria’s banking sector. Read more Pryme to Raise £30m to Power Financial Tools for Africa’s Freelancers and SMEs Pryme, a fintech company founded in Africa and now headquartered in the United Kingdom, is in the middle of a £30 million capital raise aimed at transforming how globally mobile entrepreneurs and small businesses manage their finances. At the heart of this ambitious move is a £10 million commitment from the Black Water Fund, which will only be released if Pryme secures the full round. Get more details HERE Opportunities Galore Call For Applications: Green Money Project for Nigerian Youth in Agribusiness 2025 The Green Money Project is a presidential initiative aimed at empowering Nigerian youth through agriculture. This program is designed to attract, train, and support young individuals in developing their agribusiness potential, fostering value creation and wealth generation across Nigeria. Get more details and Apply today Call For Applications: KPMG Private Enterprise Tech Innovator Competition The KPMG Private Enterprise Tech Innovator Competition seeks to bring together the brightest minds in technology innovations to challenge the status quo, introduce tech solutions through your own unique lens, and open up a window to the future. Get more details here. Call for Applications: Ignite Pro Community Pitch Competition ( Up to 10Million in Funding) Ignite Pro Community is a growing network of visionary founders, builders, and innovators across Africa, empowering purpose-driven startups with access to resources, mentorship, and funding opportunities. Through initiatives like Accelerate 2.0, Ignite Pro supports early-stage entrepreneurs solving real-world problems with scalable solutions.Get more details HERE Call for Applications: Cassava Change-Makers Pitch Competition 2025 ( UpTo N5 Million Prize) Are you a young innovator passionate about transforming Nigeria’s cassava value chain? Here’s your chance to bring your idea to life and win funding and development support. Get more details here. Call For Applications: AWS Generative AI Accelerator Program 2025 AWS Generative AI Accelerator Program is a global 8-week hybrid program supporting generative and agentic AI startups to prove what’s possible. Get more details and apply HERE You can access many more opportunities HERE Fun Facts about Entrepreneurship Did you know that entrepreneurship in Nigeria’s food sector has deep historical roots, particularly in the activities of women in traditional markets? Long before the formalization of agribusiness and modern food ventures, women played a central role in food production, processing, and trade across various regions of the country. In many parts of Nigeria, especially among the Yoruba, Igbo, and Hausa communities, women were responsible for buying agricultural produce from farmers, transporting them to urban centers, and selling them in local markets. They developed extensive trade networks and systems of informal credit, often acting as intermediaries between rural producers and urban consumers. Their activities laid the groundwork for what would eventually evolve into more structured forms of food businesses, including food processing enterprises, catering services, and agricultural supply chains. Some Resources For You Digital Literacy: The Axiom to a Digital Economy How to raise funds for your SME through Equity Financing How to Register Your Business with SMEDAN: A Step-by-Step Guide For more news, opportunities, resources, and other items, kindly visit: www.msmeafricaonline.com Follow us on social media: YouTube , Instagram, Twitter (X), Facebook, LinkedIn Join other Entrepreneurs across Africa in the MSME Africa Community HERE Till next time Olu, MSME Africa Thanks for reading MSME Africa Pulse! Subscribe for free to receive new posts and support my work. Pledge your support MSME Africa Pulse is free today. But if you enjoyed this post, you can tell MSME Africa Pulse that their writing is valuable by pledging a future subscription. You won't be charged unless they enable payments. Pledge your support   Like Comment Restack   © 2025 MSME Africa 548 Market Street PMB 72296, San Francisco, CA 94104 Unsubscribe