DRIVING THE INNOVATION NETWORK: TEAM CHEETAH

Hi, below are thoughts that has been on my mind for quite a while and I’ve decided to share them with you with the hope that, perhaps, they might cause you to do some things differently, or amplify your resolve on some of the things you are already doing.

They are thoughts that seeks to ask the Nigerian question from the perspective of a change catalyst, the thoughts stem from some questions;

1. Is Nigeria broke? Can she be?
2. What is so unique about our nation?
3. Why is it that many Nations rely on our market consumption to meet their budget projections?
4. What can I do about these?

 My First Thought
For all her problems, Nigeria has got some things right. She is still an investment haven, the deliberation starts with why? Why is Nigeria attractive for investment?

The factors that influence the attractiveness of a country for investment includes:

                                                  

NIGERIA
At present, we have the five most important factors; a very high market growth rate (as seen in the Telecommunication Business), a large market size, access to regional markets, skilled labour pool and relatively cheap labour.

What are the Nature of Products that Sell in Our markets?

A close look at the nature of products that sell in our market showcase two major things;

1. A global feel; any selling product today must not look like it was made in Aba, it is not that people don’t want to have Aba goods, it is just that our taste have been conditioned for the global feel.
2. Local Content Appeal; though the winning products all have a global appeal, they must not be totally out of touch with our African feel and values. A case in point is the Nigerian music and video Industry; which has succeeded in achieving a certain degree of a global feel value and a local content appeal. Another good example are in our designer clothes and highbrow restaurants. Mr. Biggs had to introduce the "Village Kitchen" to achieve this balance.

 CHARACTERISTIC OF THE PLAYERS
Take a look at any firm that is really thriving in this Nation and you would notice this commonality: 

1.      The provision of a product/service with a global appeal that meets a local need.

The majority of our earnings are spent on these products. If your product/service is not in this category, you may need to work harder at it.

HOW CAN I PARTICIPATE IN THIS TEAM?

How can I develop or offer a winning product/service that is highly finished with local appeal?
There are some options:

1. Import the products if you’ve the cash
2. Be a representative of a foreign firm and offer the service
3. Start a manufacturing facility and clone such products.
4. Develop the product/service

You don’t have to look far to find examples of option No. 1 and 2, the problem with those options is that the world has gone global. We don’t need a middle man any longer. A foreign firm can now do business in Nigeria without you, Walmart can sell here and foreign investors can now repatriate 100% of their investment. I am assuming you are not looking for a job!

No. 3 is what works at the moment, it is all about economics of scale and market penetration. The only problem with that is that it can quickly go obsolete with any major wind of development, as the leadership of such firms are not usually designed to create but to mass produce. Also, there is little or no competitive advantage.

The Cheetah Challenge
How can I create a highly finished product with a global appeal and a local feel?
Below are my challenges:

1. Research and development
2. Skill and technical expertise development
3. Managerial capacity
4. Finding Finance

My Second Thought: Driving the Innovation Network
To develop and sustain a diverse network of individuals and firms meeting regularly for the purpose of developing and maintaining thought leadership which would translate into the development of products, services and processes that offer greater value. The thrust is to make academic research and business management feel comfortable in the company of each other, discussing their work, it’s local appeal and the finance to take it to the market.

Two things would be emphasized; global appeal and a local feel.

Achieving the above goal would culminate in the generation of a strong capital pull; venture and traditional financing. This can be achieved in an organization or a networked community of organizations or individuals.

CHEETAH?
The Cheetah team are men and women who could be government officials or private individuals. What they bear in common is the integrity of their acts and intents, they are individuals who have asked; How can I be of utmost help to my nation and to humanity at large.

THE CHEETAH CHALLENGE IN THE MARKET PLACE
The challenge is simple, to create products with a global feel and a local content appeal, these products are desperately needed in these industries;

1. Herbal Medicine: Chinese and Asian herbal medicines are almost taking over this market, yet our home-grown products will beat theirs if we can develop such. With Nicosan™, Nigeria proved that we can produce a globally acceptable phytomedicine.
2. Information Technology; There is a common global standard for every software, yet the needs of those that use them are a whole lot different. Folks involved in developing such solutions must reflect this local content appeal in their design and marketing. An example is StoreHarmony, a world class business software developed by Nigerians — www.storeharmony.com.
3. Food processing industry; We are in dire need of something that meets the Indomie (noodle) class but tastes differently and contains something healthier! There are a whole lot of processed foods that we can create from our numerous food resources, there are special kitchens that can still arise to create the African dish as a reputable brand.
4. Textile Industry; who said our designers cannot mass produce their products and sell for N3000, it is quite feasible. If the designs have local content enough, a good brand will make the cash any day.

These four industries amply reflect what I am trying to portray, below are my thoughts on how to overcome the obstacles in the way.

To create these products, one would need

1. Good product and service ideas
2. Great management capacity
3. Cash.

I am of the firm belief that if you have the first two, you will find the third, it is a matter of time. So we will consider how to get the first two. See an earlier article on venture financing…http://nelsontalks.blogspot.com/2011/12/venture-financingrisk-equity-financing.html

Good product and Service Ideas
Research and Development is inevitable, sadly, it is something that few people want to engage. I have met very few individuals who take delight in thinking. The challenge is to become a thought leader in your area of interest. To achieve this, you will need;

            Private research, experiments and conclusions
            Collaboration with other thought leaders

When I say experiments, you might not need to have a physical laboratory, yours could be Facebook. This article is a conclusion I arrived at after evaluating some thoughts that came out of my private deliberation. By communicating it, I hope to; perhaps stimulate some intelligent discussion that will lead someone or myself to a better understanding. Collaboration is a necessity, your ideas need some degree of exposure to be validated. The absence of validation does not imply that your innovation is useless but that we wouldn’t even get to try it. You may need to learn more about Intellectual property rights though.

Figure 1: The Innovation Network



THE STRATEGY

Create a system that allows for coalescing and Intercourse of ideas between individuals for the aim of ;

1. Building the right critical mass of knowledge base for a positive innovative cataclysmic change .
2. To match such relevant technical and financial knowledge with the adequate capital.
3. Developing an effective local and international business network for future business opportunities

This network will be managed by a network of organizations;

1. A venture financing company.
2. A private foundation.
3. A public foundation/organization like SMEDAN.
4. An academic institution.

Our challenge

Can you create one of such networks? You need not have a large structure like these, you can start by turning your workplace into a thinking arena where individuals think. If you’ve achieved that, then go the extra mile and make it  a research and development arena, test some of those ideas and report your findings.

If you are in the academic circle, then expand that circle to include some people with some business acumen and drive. The reverse also applies. Then, learn how to find finance and good management.

MY THIRD THOUGHT
We can do this!


Best regards
Okwonna Nelson