BUSINESS SERIES 10: THE NIGERIAN OPPORTUNITY

In his book “Business Stripped Bare” English billionaire businessman, Richard Branson states; “if you want to see entrepreneurs go to Africa, go to Nigeria and see the spirit of entrepreneurship”. He went further to say that there were just too many opportunities here. (I’m well aware that Virgin Nigeria has been bought by Jimoh Ibrahim-our solutions are best homegrown.)

Mr. Branson couldn’t be closer to the truth, the opportunities here are so immense. Every obstacle to good business endeavour in Nigeria I have found out is of itself a good business endeavour! If we lose our selfishness and employ more of patriotism and patience we could reap great fortunes from such “obstacles”.

Consultants Needed: The Joseph Strategy

Though the term “consultant” is broad, here I refer to an individual that could understand a problem of another individual, group, organization, industry or state, identify a solution and fashion out strategic objective solutions to the problem. He is the prime business man, an Innovator.

This group of individuals is really lacking and their largest clients (perhaps unwilling) are policy/decision makers in public/private organizations. The consultant must however be proactive. The magnitude of Nigeria’s problem cannot stand a dogged assault from well meaning inspired Judaic Consultants. It is the Joseph strategy; it is not enough to interpret the kings dream, make him a proposal! who said you’ve to be a Pharaoh or a Nebuchadnezzar to govern an empire, just be relevant and therein is your own fortune and better you’ll save a nation! Bottom line; write a proposal and if you must present it for free, If Pharoah wants it then you’ve got your first client. If the problem is large enough you might need an office space, internet connection, some staff and some allowance to solve it!

It is not a coaster ride however and has never been, but it’s much better than complaining and imprisonment.

DISADVANTAGED? NO! IT IS ABOUT THE TIPPING POINT.

For Nigeria to achieve rapid economic growth we must reposition ourselves for the tipping points, for every generation and industry there are always tipping points that churn out the new phase of billionaires and mega economies. These economies are built on the shoulders/strengths of previous ones (that is why Asia could emerge as a world power in 25years).  The Fords, Bill Gates, Bransons, Rockefellers, Dangotes and Adetola are products of particular tipping points. No age would last forever (though the money might and could be used to enter the next tipping point) and history has shown that the entry requirement for the next entry is not cash but service.

There is no technology that we really need that Nigeria cannot afford (never forget that). Entrepreneurs must be able to identify the next  “age” in every industry and position for the flow. With or without you, things will definitely shift and with it a new phase of billionaires, significance  and economies.

Nigeria can lose her timidity and inferiority complex and boldly enter the new realm of Telecommunication (Adenuga and Dozien), the new realm of energy (? And ?) Postal delivery (? And ?) IT (Zinox and ?) Steel (? And ?) Pharmaceuticals (? And ?) Health Care (? And ?) Banking (? And ?)  media (? And ?)………………………

It is plain that there are a lot of spaces out there; there are no movements that are moving ahead rather there are individuals that are moving ahead.

Nigeria is an individual, she can be you or you can let the cap pass (or the headtie!).

©Okwonna Nelson

nnamdiokwonna@yahoo.com

Okwonna Nelson is the CEO of Onel Consults Ltd.

Okwonna Nelson consults for public and private corporations and is available for seminars and talks.

BUSINESS SERIES 9: LEARNING ON THE JOB!

It is much easier to take a pay check than to grow your own business, worse still you may not have brought sufficient experience to the job! Very few individuals had an impressive CV when they were considering themselves for the CEO job of their business, no doubt the idea was too great. The desire was burning and adrenaline level was high! Then the job begins………….you find your first client or your first client finds you! And Gbim you are in Business! You’ve dreamt about this long ago but you didn’t understand the adjustments you’ll have to make, to make matters worse you’ve got deadlines to meet.

The taxi/bus people are completely oblivious of your plight and you can’t wait to get a car. in the midst of the whole brouhaha you’re sure you’re on the right track, it’s just that the track demands a sweat suit!

I now can understand why big firms pay their CEO so well, those folks deserve every bit of the dollar they get; though in the States the amount could swirl you for a moment. The quality a good CEO brings to the job is a very rare commodity; you’ll be surprised how few people are willing to think, act on their dreams and dare stick out the harmattan.

You’ll be even more surprised at the competence of those that have taken the plunge. The key folks, is the ability to learn every day, to think daily and Pray like every day was your final year exams, because in a way, it is. Adapt to new information and be quiet enough for fresh insights.

The idea that got you running may not be sufficient to keep you in the race!

People are crucial; they make or mar, Listen to your inner voice when dealing with people. If it looks right, sounds right but doesn’t feel right on the inside; delay the decision if possible.

Building the Dream

A house is built brick by brick, keep at it. One day you’ll reach critical mass.

Exposure is your responsibility; don’t be limited to your environment. Take a trip to somewhere you can learn or meet people that you can learn from, the good thing about working for yourself is the ability to learn what you want to learn when you want to.

Making mistakes is part of the deal, it is the hallmark of great men; Fall forward.

If you find the virtuous woman, marry her! (and vice versa).

Always remember to think Abundance!

MY PLEA

Nigeria needs more young professionals to take the lead, don’t be scared of the public sector. Only thread gently and reverently, you don’t influence people you don’t respect. If not for anything, they are there, you are not. Be like Joseph, interpret the dream; do the work and let Pharaoh take the credit. Do this and you’ll save a nation.

And while you are it, holler me and share the experience.

nnamdiokwonna@yahoo.com

BUSINESS SERIES 7: WHAT GATES DID THAT YOU HAVEN’T

INTRODUCTION

The marketplace is an interesting arena; few people understand it because few people study it. Folks go there to obtain goods, services, wages and returns on investment but it took certain folks to conceptualize and create the marketplace. The point is that the marketplace is man-made!

Like the “father Christmas” and “Valentine’s day” euphoria that generates billions of dollars in sales volume each year, business men will keep on creating cash yielding concepts  that  can be factored virtually into everything, religion not excluded.

Business to some “practitioners” is all about the bottom line; cash returns, but to some others it is a vocation, any potential and practicing business person if he/she would go far must be able to understand trends. Things don’t just happen, people happen to things and one has to understand why. When next you see a new product on the shelve, look closer and meditate on the concept behind it, the rationale of the developer, the response of the industry and the merit of the venture. You’ll be surprised to learn that you could predict trends from mere observation and deductive reasoning even in industries you know little about. For instance certain stocks on the Nigerian stock market would shoot up for the next two years to an astronomical level e.g. Diamond bank because they have a clean bill of health compared to their contemporaries and Pension funds must be invested! (I happen not to deal in stocks much). And certain pension stocks are much devalued (though the pensioners don’t know yet) because they have been invested on the stock market which is just reviving.

GATES

What did he do?

 In a nutshell Bill Gates unlike most folks was able to understand the nature of the computer industry, to project into its future and to (the hardest part) to convince himself that his idea is the next big thing on the planet.

The problem in Africa is that we lack self-belief; even those that believe in God limit Him to a “spiritual experience”. Folks, everyday, everyday, except you’ve no relationship with God, His seed on the inside of you is crying out for expression in everyday issues but most time you’ve looked at yourself, your surrounding and have despised the seed! The worst lie we tell ourselves is that if it is a good idea someone else should have done it, that someone else is you.

The deceitfulness of riches didn’t hinder Gates (the idea that if you don’t have money you’re probably stupid and vice versa); He practically gave away Microsoft Windows but retained ownership. Study his story, if you don’t have money like Joseph Jacob Isaac give the idea away to one with the means (it would have been lost anyway) and bargain to retain ownership/executor rights.

When people with marvelous ideas and no money complain it is because they are either too selfish or are unable to package themselves for a bargaining process. If you are really blessed, you must have noticed the ability of God to always give you better ideas. So to someone reading this article that idea in your heart probably is the only thing that can bring you before the king, don’t despise it, don’t be too selfish to share it, and don’t be too foolish to lose ownership completely.

Most times what will retain ownership for you is competence; the fact that no one else can be trusted to do it as good as you can. This is why reputation is everything, especially when you are starting out. For Bill Gates, the king was the president of IBM.

When you are passionate but Kobo less remember.

                                                Give thanks for the situation (at least you have something!)

                                                Dig; the resource/information is always around/beneath you

                                                Offer what you’ve got to commoners and then to the king (in that order)

God is faithful; He will not leave anyone without a talent at least. Where is yours?