Be Wise It is very easy to say, "Be wise." You probably might have heard that a couple of times, and maybe recently. The truth is, you need to be wise to be a successful entrepreneur. The Bible says, "Wisdom is the principal thing; in all your getting, get understanding." I will talk about wisdom … Continue reading The making of a Successful Entrepreneur – Part 7
Read the previous part here HOW TO BE SENSITIVE There are several ways to open your eyes to business opportunities around you. I will just mention two: First, listen to people's complaints. This is the best way to know what bothers people in society. Fortunately, we live in a country where people spend too much … Continue reading THE MAKING OF A SUCCESSFUL ENTREPRENEUR – PART 4
As an Agribusiness expert, I've been asked several times of the opportunities that are in this sector for the elites. The answer is always simple; if you must make fortune through agriculture, you will have to look beyond now. You need to understand the trend and try to forecast what will happen to the sector in the next five to ten years and even 50. While I may not be able to tell you all the changes that will take place in the African food system, I can authoritatively say, the future of agriculture in Africa is not going to be cutlass and hoe. That era is fast fading away. We are in the era of information, and knowledge is going to play a pivotal role in this critical sector.
Who Is An Entrepreneur? It's a good thing to start with a clarification of who an entrepreneur really is. The words entrepreneur and entrepreneurship are buzzwords currently. There are several definitions by different people. My goal in this series is not to bore you with some academic jargons, but to simply show you what I … Continue reading THE MAKING OF AN ENTREPRENEUR – PART 2
7 Countries, 19 Students, 3 trainers, and 2 weeks course. Imagine you are in a class where you are the youngest and your course mates cut across seven different countries, backgrounds, origins and different levels of experiences, such as professors, doctors, and actors, who have been practicing even before you were born. This is the … Continue reading MAKING AGRIBUSINESS WORK – My Tale of ICRA course
So far, we have seen that being broke and not wanting to work for somebody are really not great reasons to start a business. Let me introduce you to the third wrong reason. WRONG REASON 3: BECAUSE I HAVE AN IDEA. Yes, I mean it. Having an idea is not enough reason to start a … Continue reading WRONG REASON FOR STARTING A BUSINESS 3
One of the major reasons many startups fail can be traced back to why they started the business in the first place. When your intention is wrong, your actions cannot be correct. I will be sharing with you some common wrong reasons to start a business WRONG REASON 1: BECAUSE I'M BROKE Everyone needs money. … Continue reading WRONG REASONS FOR STARTING A BUSINESS
As I journeyed from Kogi State to Ibadan, something striking happened with two newspaper vendors that reinforced my understanding of the role of simple innovation in winning the constant battle for customer. A passenger decided to buy a newspaper, and he had N500 note on him. The first vendor that ran to him actually had … Continue reading HOW A LITTLE EXTRA CAN PUT YOU AHEAD OF COMPETITORS
I have keenly observed the consumption pattern of fresh vegetable in Nigeria. Basically, the value chain comprises of both formal and informal. The formal value chain takes the route of the standard stores and supermarkets which have sophisticated technology for packaging, storage and distribution. The informal supply chain is made of local farmers, street vendors and market women with rudimentary packaging and storage and distribution technology. This supply chain is characterized by a high level of unhygienic conditions. Furthermore, as a typical characteristic of an emerging economy, it seems to me that as the income and education level increase, the consumption of more of these 'premium' food products increases. In other words, they seem to be mainly an elitist food, as the people at the bottom of the pyramid (BOPs) seem not to be able to afford the high cost of good quality of these premium products but rather choose to go for cereals and legumes alternatives which are cheaper. What's the implication, from a business perspective?