[Music]
Wow okay my name is Daniel which endo
tchen I was a formerly mu who does the
new me Elia new me has done a Gazoo I
was born in about few blocks away from
here General Hospital
when we leave today this never existed
but does the situation of where we live
because our fathers want to do business
because what predominantly traders so we
brought trade in vain’ into our homes
our buildings that are designed for
residents was converted to warehouses
and shops have you been there yeah
that’s where our fathers shopped and
growing up growing know our Father has
recruited once every year sometimes
towards the end of the year we’ll go for
Christmas and when they are coming back
they bring what is then to his son and
then the question would stay under our
Father to lend the trade he has done for
years and then the question will pass
through a seven year apprenticeship you
know that and he will be doing all the
most of the house chores like fetching
water he will wake up very early in the
morning landing hard work he would go
open the shop as early as 6:30 7:00
before our fathers stroll into the shop
by 9:00 or 10:00 and he’s learning all
the hard work and while we were going to
school and after seven years then the
question would become an expert in what
our fathers knew how to do and then our
Father is obligated by tradition and by
the law to set Sudan the question and
give them grace on his own shop fill the
same shop with
all the materials they sewed and give
him more money and at the end of the day
then the question was that his home
business and the second will continue
then the quests on will go to the
village pick someone else and do the
same thing out for a dip and now a Farah
is in need of a replacement for Dane the
quest son and we’ll go to the village
and get someone else and sometimes one
would come to the shop you say what are
you doing here when I come home and do
your assignments whoever had that and
then you didn’t like our fathers
businesses sometimes we introduce our
fathers had mr. Daniel a business man
that’s the only thing we knew our Father
did most of us didn’t really know what
their businesses were until my
inquisitive six year old self asked
businesses this do you do until I had
that this business that our father is
doing is selling tailoring materials
tailoring accessories on line three in
our own market when we insist that will
come to the father’s shop so see what it
is that he does we see what he does and
see the ways they did their businesses
how they grew their businesses it was
usual for forest businesses to recruit
people every year every year but do you
know the danger once our Father start
getting old
the younger ones he has trained have
started doing their own businesses our
further businesses are bound to die
because nobody would take it you
graduate graduate from University I want
to go to Lagos want to go to protocols
want to go to Abuja so they can get the
white collar jobs there Mecca song had
grown and started his own businesses and
continuing the same cycle our Father did
farad gets food and nobody to continue
in the line of his business and we will
travel to Lagos looking for white-collar
jobs that do exist and then we only
visit this city about during Christmases
to check what is happening
growing up in this city we had big
organizations big companies almost
everyone in the city used an exercise
book called Trista Trista Trista big
ssize we can remember the adverts it was
a beautiful advert almost odd the only
tissue knew them was three star star you
remember the only soft we used was truck
so remember Pam or leave those we are
organizations that were Butte in Butte
in this city but they died some of them
because of we did not separate the
dichotomy between ownership and
management and that is what killed our
forest businesses now let me also shock
you what bank has record that the way
our fathers recruited was the best way
to eradicate poverty in communities
because you noticed that whenever they
take someone from your family and he
goes through the process of
apprenticeship you go back home he is
fending for his family his family is
pulled out of poverty forever but that
method alone it’s not sustainable while
we still do apprenticeship internship
and mentorship which you combine it with
structured business principles such that
we can Butte so that we can Butte
transgenerational businesses a business
is said to be transgenerational when it
lasts more than one generation is not
about when is moved from one father to
one son only if it can last beyond you
if the purposes of the businesses is
actually sustained and retained to build
structured businesses over a wall
globally we see companies like Jetta
Lego Walmart Oreo Kickham Kikkoman these
organizations have lasted some have lost
more than 50 years some hundred years
now can you mention any company around
us that is up 200 years
most of us even fathers that did helps
in the villages helps that cured one
disease or the other we part all of them
and treat them away at the arrival of
modern medicine some of the things we
heard there that was I was so happy to
see that some people are still building
things with our local cultures with our
local thing with things that concern us
so what we’re saying to build it
translational business one of the things
we must do is to be intentional with the
way we relate to our children simple
instructions like that that all expenses
must go to the bank simple instruction
like running impressed system so that a
voucher is raised before payment is made
and gays a request made by someone and
guess disbursement made by another
person and get a counter signing simple
internal audit system and pressed to
tell a story about a fast food they
started in our city a few blocks away
from here was very amazing gigantic
build wonderful but simple lack of
business processes brought them to their
needs within a period of three years
have the records now what happens is
that when we use the crude way of
father’s walking into the shops and
action questions like my galerkin
oratory bar meaning now how much have
you sold today say fifty thousand
nikodem taught a meaning give me thirty
and takes this thirty thousand a puts at
the back pockets and walks away and this
thirty thousand is unaccounted for
because sometimes this thirty thousand
covers the profit the capital even loan
they collected from the bank to do the
business now that makes it that a lot of
us the most businesses in nigeria the
default rate for loan is more than
eighty nine percent so while we
surprised the banks are not giving out
loans because business knowledge is like
what we need to do is to you know
understand that we need to lay
foundational foundation for our children
encourage our children into
intrapreneurship as they are going to
school elements so understand the
process of building businesses let them
understand the process of setting up
businesses and building businesses
businesses grow with time the issue not
a lot of impatience in in our generation
okay but if we able to combine business
principles and then family mentorship
you will see that we’ll build amazing
amazing businesses let me tell you my
story why I think the walks our fathers
have also done can be taken home my
father will always tell me an adage an
ebow adage Oh onion on a loom and
Kotecha whenever I insist on having my
way on anything in his means that is the
person that is at the top of the palm
tree then knows the one that is ripe and
then he gives up and allows you to do
that and when the result is favorable he
will say I am proud of you son
and when the result is not favorable you
say you made this decision I stand by
you
now take things we must do now there are
challenges families face when you run
family owned enterprises family owned
enterprises guarantees a lot of things
for to Butte transgenerational
businesses because the father teaches
the son or the children how the
businesses are owned and what some of
the things that happen in the business
now family members non family members
and then non family manager owners now
if you able to bring your family members
as part of the business to understand
the ownership system of the business and
you bring known family members as owners
part of the owners of the business I
bring in non family members as managers
of the business where you have
accountant you have administrators you
have procurement experts that even
family members respect where owners
owners of the business don’t wing
influences around come say this is
for this business I say you are not
walking today this is my father’s
business I don’t like his face second
second give him sack later and then
these businesses start dying but if
you’re if it’s properly structured
recruitment system
I encourage we do a merger between what
our fathers did and what should happen
let me show you what happens with
businesses today is that today in our
days and time the nature of businesses
the way businesses grow and different it
took 75 years in the past to build big
businesses it took seven to five years
in in 1957 it would take 75 years to
build a big brand in 2003 it would take
25 years to build a big brand in 2013 it
takes 10 years to build a big brand that
they shut name is reducing let me tell
you something there is an application
that came out angry birds angry bird
hits the 1 million mark in 2 hours 1
million dollars in 2 hours from the time
of release a lot has happened a lot of
things are changing
check all the big global tech giants
they are less than 20 years
Facebook Google Clinton l IG hope rat 5
tech they are all less than 5 10 15 20
years and they are run by young
energetic people than understood that
companies like IBM be uber for example
uber owns no car office spaces providing
community and species and support
services and what is happening is that
we work became a 278 million dollar
company became a unicorn in less than
four years in less than phase and
they’ve gone around the world now what
has happened is that the rise of
crowd-based capitalism a lot of people
are growing businesses using numbers let
me show you we are 100
it’s seven million they told us but I
think what Turner and ten or more and
this number can transform the way we do
businesses what service can you provide
to solve the problem of 210 Nigerians
that’s how to be you transform trans
generation and businesses what service
can you buuuut to solve problem for five
million people living in a BIA living in
your city what services can you do to
move banking I give it the next ten
years
the lives of the banks you know I don’t
want to call their names would be phased
out entirely give it the next five years
you can you will forget the time you
went into a bank you can’t remember the
last time you went to a post office
that’s the same thing that will happen
with you and Bank and halls soon
technology is changing the face of
everything
that’s why you need two ways up or you
go like our fathers so what I’m saying
is that for us to beYOU
transgenerational businesses we need to
know that we don’t go like we live
online we need to position our
businesses in that nature we need to
understand that transgenerational
businesses it’s not about family
ownership it’s about partnership
collaboration and building businesses
that will last forever thank you [Applause]
Wow okay my name is Daniel which endo
tchen I was a formerly mu who does the
new me Elia new me has done a Gazoo I
was born in about few blocks away from
here General Hospital
when we leave today this never existed
but does the situation of where we live
because our fathers want to do business
because what predominantly traders so we
brought trade in vain’ into our homes
our buildings that are designed for
residents was converted to warehouses
and shops have you been there yeah
that’s where our fathers shopped and
growing up growing know our Father has
recruited once every year sometimes
towards the end of the year we’ll go for
Christmas and when they are coming back
they bring what is then to his son and
then the question would stay under our
Father to lend the trade he has done for
years and then the question will pass
through a seven year apprenticeship you
know that and he will be doing all the
most of the house chores like fetching
water he will wake up very early in the
morning landing hard work he would go
open the shop as early as 6:30 7:00
before our fathers stroll into the shop
by 9:00 or 10:00 and he’s learning all
the hard work and while we were going to
school and after seven years then the
question would become an expert in what
our fathers knew how to do and then our
Father is obligated by tradition and by
the law to set Sudan the question and
give them grace on his own shop fill the
same shop with
all the materials they sewed and give
him more money and at the end of the day
then the question was that his home
business and the second will continue
then the quests on will go to the
village pick someone else and do the
same thing out for a dip and now a Farah
is in need of a replacement for Dane the
quest son and we’ll go to the village
and get someone else and sometimes one
would come to the shop you say what are
you doing here when I come home and do
your assignments whoever had that and
then you didn’t like our fathers
businesses sometimes we introduce our
fathers had mr. Daniel a business man
that’s the only thing we knew our Father
did most of us didn’t really know what
their businesses were until my
inquisitive six year old self asked
businesses this do you do until I had
that this business that our father is
doing is selling tailoring materials
tailoring accessories on line three in
our own market when we insist that will
come to the father’s shop so see what it
is that he does we see what he does and
see the ways they did their businesses
how they grew their businesses it was
usual for forest businesses to recruit
people every year every year but do you
know the danger once our Father start
getting old
the younger ones he has trained have
started doing their own businesses our
further businesses are bound to die
because nobody would take it you
graduate graduate from University I want
to go to Lagos want to go to protocols
want to go to Abuja so they can get the
white collar jobs there Mecca song had
grown and started his own businesses and
continuing the same cycle our Father did
farad gets food and nobody to continue
in the line of his business and we will
travel to Lagos looking for white-collar
jobs that do exist and then we only
visit this city about during Christmases
to check what is happening
growing up in this city we had big
organizations big companies almost
everyone in the city used an exercise
book called Trista Trista Trista big
ssize we can remember the adverts it was
a beautiful advert almost odd the only
tissue knew them was three star star you
remember the only soft we used was truck
so remember Pam or leave those we are
organizations that were Butte in Butte
in this city but they died some of them
because of we did not separate the
dichotomy between ownership and
management and that is what killed our
forest businesses now let me also shock
you what bank has record that the way
our fathers recruited was the best way
to eradicate poverty in communities
because you noticed that whenever they
take someone from your family and he
goes through the process of
apprenticeship you go back home he is
fending for his family his family is
pulled out of poverty forever but that
method alone it’s not sustainable while
we still do apprenticeship internship
and mentorship which you combine it with
structured business principles such that
we can Butte so that we can Butte
transgenerational businesses a business
is said to be transgenerational when it
lasts more than one generation is not
about when is moved from one father to
one son only if it can last beyond you
if the purposes of the businesses is
actually sustained and retained to build
structured businesses over a wall
globally we see companies like Jetta
Lego Walmart Oreo Kickham Kikkoman these
organizations have lasted some have lost
more than 50 years some hundred years
now can you mention any company around
us that is up 200 years
most of us even fathers that did helps
in the villages helps that cured one
disease or the other we part all of them
and treat them away at the arrival of
modern medicine some of the things we
heard there that was I was so happy to
see that some people are still building
things with our local cultures with our
local thing with things that concern us
so what we’re saying to build it
translational business one of the things
we must do is to be intentional with the
way we relate to our children simple
instructions like that that all expenses
must go to the bank simple instruction
like running impressed system so that a
voucher is raised before payment is made
and gays a request made by someone and
guess disbursement made by another
person and get a counter signing simple
internal audit system and pressed to
tell a story about a fast food they
started in our city a few blocks away
from here was very amazing gigantic
build wonderful but simple lack of
business processes brought them to their
needs within a period of three years
have the records now what happens is
that when we use the crude way of
father’s walking into the shops and
action questions like my galerkin
oratory bar meaning now how much have
you sold today say fifty thousand
nikodem taught a meaning give me thirty
and takes this thirty thousand a puts at
the back pockets and walks away and this
thirty thousand is unaccounted for
because sometimes this thirty thousand
covers the profit the capital even loan
they collected from the bank to do the
business now that makes it that a lot of
us the most businesses in nigeria the
default rate for loan is more than
eighty nine percent so while we
surprised the banks are not giving out
loans because business knowledge is like
what we need to do is to you know
understand that we need to lay
foundational foundation for our children
encourage our children into
intrapreneurship as they are going to
school elements so understand the
process of building businesses let them
understand the process of setting up
businesses and building businesses
businesses grow with time the issue not
a lot of impatience in in our generation
okay but if we able to combine business
principles and then family mentorship
you will see that we’ll build amazing
amazing businesses let me tell you my
story why I think the walks our fathers
have also done can be taken home my
father will always tell me an adage an
ebow adage Oh onion on a loom and
Kotecha whenever I insist on having my
way on anything in his means that is the
person that is at the top of the palm
tree then knows the one that is ripe and
then he gives up and allows you to do
that and when the result is favorable he
will say I am proud of you son
and when the result is not favorable you
say you made this decision I stand by
you
now take things we must do now there are
challenges families face when you run
family owned enterprises family owned
enterprises guarantees a lot of things
for to Butte transgenerational
businesses because the father teaches
the son or the children how the
businesses are owned and what some of
the things that happen in the business
now family members non family members
and then non family manager owners now
if you able to bring your family members
as part of the business to understand
the ownership system of the business and
you bring known family members as owners
part of the owners of the business I
bring in non family members as managers
of the business where you have
accountant you have administrators you
have procurement experts that even
family members respect where owners
owners of the business don’t wing
influences around come say this is
for this business I say you are not
walking today this is my father’s
business I don’t like his face second
second give him sack later and then
these businesses start dying but if
you’re if it’s properly structured
recruitment system
I encourage we do a merger between what
our fathers did and what should happen
let me show you what happens with
businesses today is that today in our
days and time the nature of businesses
the way businesses grow and different it
took 75 years in the past to build big
businesses it took seven to five years
in in 1957 it would take 75 years to
build a big brand in 2003 it would take
25 years to build a big brand in 2013 it
takes 10 years to build a big brand that
they shut name is reducing let me tell
you something there is an application
that came out angry birds angry bird
hits the 1 million mark in 2 hours 1
million dollars in 2 hours from the time
of release a lot has happened a lot of
things are changing
check all the big global tech giants
they are less than 20 years
Facebook Google Clinton l IG hope rat 5
tech they are all less than 5 10 15 20
years and they are run by young
energetic people than understood that
companies like IBM be uber for example
uber owns no car office spaces providing
community and species and support
services and what is happening is that
we work became a 278 million dollar
company became a unicorn in less than
four years in less than phase and
they’ve gone around the world now what
has happened is that the rise of
crowd-based capitalism a lot of people
are growing businesses using numbers let
me show you we are 100
it’s seven million they told us but I
think what Turner and ten or more and
this number can transform the way we do
businesses what service can you provide
to solve the problem of 210 Nigerians
that’s how to be you transform trans
generation and businesses what service
can you buuuut to solve problem for five
million people living in a BIA living in
your city what services can you do to
move banking I give it the next ten
years
the lives of the banks you know I don’t
want to call their names would be phased
out entirely give it the next five years
you can you will forget the time you
went into a bank you can’t remember the
last time you went to a post office
that’s the same thing that will happen
with you and Bank and halls soon
technology is changing the face of
everything
that’s why you need two ways up or you
go like our fathers so what I’m saying
is that for us to beYOU
transgenerational businesses we need to
know that we don’t go like we live
online we need to position our
businesses in that nature we need to
understand that transgenerational
businesses it’s not about family
ownership it’s about partnership
collaboration and building businesses
that will last forever thank you [Applause]
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