I came into being in city about four
years ago and when I came in a lot of
things caught my attention I lived in
Lagos all my life before then the
question would be why will a young man
pack is loaded and leave Legos and come
to a city like Benin City I was in very
well in Lagos I wasn’t struggling but I
realized that there’s a lot of stuff
that I can do in in Benin City before I
moved into banana I consulted for NAPA
and PSC and and bdc so it gave me a lot
of time to understand the business
environment of Benin City and at those
stead within that time I was able to
have handshakes and sit out with a
couple of business owners and
entrepreneurs in this state and one
question kept bugging me why is it that
a lot of small businesses don’t survive
why do businesses rise up with a lot of
thrust and a lot of power and within a
couple of years they become a shadow of
themselves if you walk along supplier
for instance I think it’s one of the
busiest roads in Benin City you see that
a couple of businesses that we’re
booming I don’t want to mention names
but you and I know their businesses
their supermarkets that were booming
very well at some point but today it’s
just nothing but a shadow the question
is why and I got to to look at some of
these issues and research shows that 20
percent SMS managed to survive in
Nigeria just 20 percent
what happens to the order 80% where the
folding up you tell me the reason is
there’s no capital but I will tell you
our problem is fundamentally not capital
funding is the list of the problems that
small businesses have asked those that
won’t win I’ll tell you some of them are
already begging for transport fare
so that means fundamentally the program
was never funding in the first place so
what this business is falling off all
right
90% out of every hundred SMEs small
businesses rather in Nigeria fill in
their first year I’m not here to scare
you because I know they’re loving an
apprentice in this place this morning
but I’m here to let you know what I’ve
been able to research and what I’ve been
able to to come up with us what we can
do to become displayed that is placing a
plug in our business domain in Nigeria
all right
ninety nine of all new businesses fill
the first ten years I was doing a
business projection recently and I began
to ask why are they asking me to project
my business for the next ten years and I
began to research that’s when I came
across this a ninety nine percent of
businesses that don’t have foresight for
ten years end up folding up the question
is what can be done what is the problem
why a business is folding up today you
see a young man vibrant active doing
business along the streets and tomorrow
you see him he’s nowhere to be found in
the order of things
why what can be done all right firstly
let empathy Drive you innovation you see
the problem we have a lot of
entrepreneurs have is that we are not in
such with the realities that face us as
a generation
our young kids came up by the way a
young boy the one that had we are said
by is right and my sleeve that’s my son
yeah okay
I don’t kids came up and they talked
about virtual reality today people don’t
think the way we used to think the way
we used to do business in years past I
was privileged to meet a young man in
Legos at at some point and the guy came
to do the verbal an idea very very
brilliant idea very very brilliant
business idea and he wanted my imputes
he wanted me to be part of the idea and
everything and I took my time after
about two or three months of thinking
about I told him no I can’t be a party
to is it why I said because this
business will not survive tomorrow is it
what am I thinking like I said because
the way people think what sympathy
empathy is being in touch with the way
people think
trying to get yourself behind them to
see things from their own perspective
every business today has to be driven by
the thrust of people’s thought what is
the frequency of the post of the game if
you’re setting up a business today and
the business is not looking at the where
people are going to be thinking in the
next 10 years in the next 15 years I bet
you in the next five years to be out of
ideas because people are no longer
thinking the way you think today
everyone is talking about escaping
reality virtual reality has become in
the mainstay everybody wants to live in
a war where they don’t have to go to
toilet they don’t have to eat they want
to live in a world where they don’t have
to leave one place to get to another
they live in a world where they just
have to slap themselves and pick a call
they live they want to live in a world
where they just snap the finger and
coins coming and they can’t spend it so
everyone is trying to escape from the
realities that we face every day so if
your business model is built around what
we see the realities that we face I mean
the realities the things that were
experiencing today there’s very very
high chance
he won’t survive the next three to five
years I’m not scary you I’m just telling
you that the challenges that small
businesses face in our generation today
they’re animals because people people’s
thinking pattern changes every day every
day once upon a time the biggest market
in the world was Walmart they were
traveling and building properties and
building houses building shops
everywhere in the world what suddenly
Amazon came up as a reputed applications
and today Amazon is the biggest so what
happened to all this truck just that
Walmart a beaut certainly that the
common a chronic no longer in keeping
with the times so the investments is
nothing it’s gone down the drain and I
tell people are speaking someone else
with them I said look be busy buying
boxes to transport people from being
into Legos bonito protocol between to
Abuja someone somewhere is busy devising
a device that you walk into a room in in
Benin I work out the dough in Legos so
suddenly all your bosses become useless
as a fashion designer you’re so excited
I can make very beautiful designs I can
get you closer in one week in China
today you walk into a room and a spray
paint on you and you walk out and they
thought how to address from your body
everything is under snap of a finger so
what gives this model are you building –
my business are failing because people
are changing everything is changing
everything we do today is different
tectonic shifts in how we get our news
buy things listen to music hang out with
friends to the new Hunger physically
anything like us for 7 years I never saw
my cousin it was live in aquaria Nakuru
seven years oh it is what’s up hey guy
have fun so everything is changing so
how we hail a cab before my caramel a
butcher Junction standard a taxi taxi
taxi
now you punch your phone and you open up
and it does it pulls up right in front
of your house so while you were busy to
your taxi along the route taxis are busy
entering the streets and get into
people’s houses so what’s the business
model
how is shop focus and even monitor our
health are creating new kinds of
companies that put us the customers at
the center of everything that we do so
the question is what is driving your
business model what is driving it is it
the way people are gonna be thinking in
the next 10 years
show me a man that has an idea that is
going to come into reality in 10 years
time and I’ll tell you my hands are
about one reinvests because the business
today the business is today if they
don’t innovate they stand a high chance
of dying spoken to the media
era innovate or you die because people
are changing people are changing the
next thing you have to do is sell see I
come to a lesson in the doorstep in
Benin City Nigeria and Africa seho young
people the woman that stopped the
business if fasting to think about is
calling themselves CEOs yeah if you
think entrepreneurship the next thing to
think about is calling yourself a CEO
but the only thing it’s too early the
reason why businesses don’t survive most
answers because we get to celebrate our
success too early we take the title of
CEO buy a brand new car move change our
houses to a bigger house for beginners
spend profits that will not end and so
one day time come and as a deviation
between our day our estimation and what
really eats sauce we discover that we
have completed of business we spend our
working capital so sell the first statue
if you give us a person in the Premio is
it chief selling officer everyone you
employ as your first stop employees
should help you to sell if you are not
selling my brother my sister say you are
dying because at the end of the day if
your business cannot generate the
numbers it sells to sustain itself then
there is a high chance that it will fail
at the end of it it comes every business
comes down to numbers forget about the
packaging and the
statics every business success is driven
by numbers and that brings me to the
third and last thing let information
draw the direction of your decision now
my little term of spending beneath it I
realized that a lot of businesses in pnc
don’t have information that is very very
pathetic you tell someone to build a
system around his business so they can
get that data analyze the data based on
that make decisions he tells you no it’s
too expensive and so most times we usual
off Trump from no mind senses who have
to go and learn how to drive money oxid
and in your wife acts t person I was
teaching him how do I know we said is my
own is it take i divided route the
rights on your own for the best way to
come now that’s what we do with our
businesses right we just use our
intuition we get up in the morning we
just feel like I will make a decision
not with data not with information what
drives your business decisions decisions
should be made based on available
information if you are going to project
your business you should project your
business based on the fact that you do
not an analysis of what you have done
previously and then you look at where
you are and where you want to get to
that is strategy a strategy that drives
strategic thinking and gradually we’re
moving away from strategic thinking
today to what we call design thinking
design thinking right thinking to design
thinking design thinking is taking the
client one at a time and in a virginal
solution that meets that particular
clients need at that point in time you
can bank on it so how do you make these
decisions when you go to Nicko’s you buy
a set of phones you buy them for a
hundred now I’ve come to Benin you said
over 150 I think no flexor muscle you
have made a 15 hour profit you forgot I
transported to Legos you forgot I’d made
a couple of calls to get the sale done
you forgot your body pop out to put the
phones inside
you forgot even in your shop you have a
periodicity bill you forgot that you
have to buy stationery to
things you do in your business you
forgot you have salaries to pay so you
begin to flex that you’ve made profit of
$50 or in actresses you’ve made a loss
of $150 but how will you know if you
don’t have information trust I’m
standing before you this morning
gentlemen and ladies I’m telling you
that one of the core reasons by what I
have seen in Benin City why businesses
are becoming gradually becoming a shadow
themselves is that I don’t have
information I want to a very big
supermarket one of the biggest whore
market you know in Benin City today I
went into that sort of mechanics them
how do you keep information nothing
what they do is I will call it data
garden as an accountant your work is not
to document transport expenses 5,000
telephone expenses 10,000 you move
beyond data gathering to analyzing the
data because if you tell me 15 era
contra naira
17 era 17 era $25 as a CEO it means
absolutely nothing but what does it
profit of 10 are mean to me in the next
50 years if I make 15 Eryn now and I
call you to make $15 for next 12 months
how does that impact on my capital how
does that make my business crew how can
I plan to expand will I be able to add
that extra shop to my business
that’s what information does do you know
data and what this very big so my kinda
we talked about is doing is just cutting
data we have 16 units of Sox 17 units of
toothbrush and we sold five rows I mean
they because there’s no analysis of this
information they end up stocking up
items that are irrelevant tying down the
capital and item states on the shelf for
two years
worst people are busy looking for that
item they can’t get to buy they don’t
even know which one is fast moving
awfully slow moving because there’s no
information
judgmental ladies if you’re gonna
survive in business today you need to
take a stand you need to carry your
business your business you consume you
your business should give you sleepless
nights
your business will make you stay up all
night gather information analyze
information and then you can be chose
Jason say yes I was there well now I’m here thank you so much
years ago and when I came in a lot of
things caught my attention I lived in
Lagos all my life before then the
question would be why will a young man
pack is loaded and leave Legos and come
to a city like Benin City I was in very
well in Lagos I wasn’t struggling but I
realized that there’s a lot of stuff
that I can do in in Benin City before I
moved into banana I consulted for NAPA
and PSC and and bdc so it gave me a lot
of time to understand the business
environment of Benin City and at those
stead within that time I was able to
have handshakes and sit out with a
couple of business owners and
entrepreneurs in this state and one
question kept bugging me why is it that
a lot of small businesses don’t survive
why do businesses rise up with a lot of
thrust and a lot of power and within a
couple of years they become a shadow of
themselves if you walk along supplier
for instance I think it’s one of the
busiest roads in Benin City you see that
a couple of businesses that we’re
booming I don’t want to mention names
but you and I know their businesses
their supermarkets that were booming
very well at some point but today it’s
just nothing but a shadow the question
is why and I got to to look at some of
these issues and research shows that 20
percent SMS managed to survive in
Nigeria just 20 percent
what happens to the order 80% where the
folding up you tell me the reason is
there’s no capital but I will tell you
our problem is fundamentally not capital
funding is the list of the problems that
small businesses have asked those that
won’t win I’ll tell you some of them are
already begging for transport fare
so that means fundamentally the program
was never funding in the first place so
what this business is falling off all
right
90% out of every hundred SMEs small
businesses rather in Nigeria fill in
their first year I’m not here to scare
you because I know they’re loving an
apprentice in this place this morning
but I’m here to let you know what I’ve
been able to research and what I’ve been
able to to come up with us what we can
do to become displayed that is placing a
plug in our business domain in Nigeria
all right
ninety nine of all new businesses fill
the first ten years I was doing a
business projection recently and I began
to ask why are they asking me to project
my business for the next ten years and I
began to research that’s when I came
across this a ninety nine percent of
businesses that don’t have foresight for
ten years end up folding up the question
is what can be done what is the problem
why a business is folding up today you
see a young man vibrant active doing
business along the streets and tomorrow
you see him he’s nowhere to be found in
the order of things
why what can be done all right firstly
let empathy Drive you innovation you see
the problem we have a lot of
entrepreneurs have is that we are not in
such with the realities that face us as
a generation
our young kids came up by the way a
young boy the one that had we are said
by is right and my sleeve that’s my son
yeah okay
I don’t kids came up and they talked
about virtual reality today people don’t
think the way we used to think the way
we used to do business in years past I
was privileged to meet a young man in
Legos at at some point and the guy came
to do the verbal an idea very very
brilliant idea very very brilliant
business idea and he wanted my imputes
he wanted me to be part of the idea and
everything and I took my time after
about two or three months of thinking
about I told him no I can’t be a party
to is it why I said because this
business will not survive tomorrow is it
what am I thinking like I said because
the way people think what sympathy
empathy is being in touch with the way
people think
trying to get yourself behind them to
see things from their own perspective
every business today has to be driven by
the thrust of people’s thought what is
the frequency of the post of the game if
you’re setting up a business today and
the business is not looking at the where
people are going to be thinking in the
next 10 years in the next 15 years I bet
you in the next five years to be out of
ideas because people are no longer
thinking the way you think today
everyone is talking about escaping
reality virtual reality has become in
the mainstay everybody wants to live in
a war where they don’t have to go to
toilet they don’t have to eat they want
to live in a world where they don’t have
to leave one place to get to another
they live in a world where they just
have to slap themselves and pick a call
they live they want to live in a world
where they just snap the finger and
coins coming and they can’t spend it so
everyone is trying to escape from the
realities that we face every day so if
your business model is built around what
we see the realities that we face I mean
the realities the things that were
experiencing today there’s very very
high chance
he won’t survive the next three to five
years I’m not scary you I’m just telling
you that the challenges that small
businesses face in our generation today
they’re animals because people people’s
thinking pattern changes every day every
day once upon a time the biggest market
in the world was Walmart they were
traveling and building properties and
building houses building shops
everywhere in the world what suddenly
Amazon came up as a reputed applications
and today Amazon is the biggest so what
happened to all this truck just that
Walmart a beaut certainly that the
common a chronic no longer in keeping
with the times so the investments is
nothing it’s gone down the drain and I
tell people are speaking someone else
with them I said look be busy buying
boxes to transport people from being
into Legos bonito protocol between to
Abuja someone somewhere is busy devising
a device that you walk into a room in in
Benin I work out the dough in Legos so
suddenly all your bosses become useless
as a fashion designer you’re so excited
I can make very beautiful designs I can
get you closer in one week in China
today you walk into a room and a spray
paint on you and you walk out and they
thought how to address from your body
everything is under snap of a finger so
what gives this model are you building –
my business are failing because people
are changing everything is changing
everything we do today is different
tectonic shifts in how we get our news
buy things listen to music hang out with
friends to the new Hunger physically
anything like us for 7 years I never saw
my cousin it was live in aquaria Nakuru
seven years oh it is what’s up hey guy
have fun so everything is changing so
how we hail a cab before my caramel a
butcher Junction standard a taxi taxi
taxi
now you punch your phone and you open up
and it does it pulls up right in front
of your house so while you were busy to
your taxi along the route taxis are busy
entering the streets and get into
people’s houses so what’s the business
model
how is shop focus and even monitor our
health are creating new kinds of
companies that put us the customers at
the center of everything that we do so
the question is what is driving your
business model what is driving it is it
the way people are gonna be thinking in
the next 10 years
show me a man that has an idea that is
going to come into reality in 10 years
time and I’ll tell you my hands are
about one reinvests because the business
today the business is today if they
don’t innovate they stand a high chance
of dying spoken to the media
era innovate or you die because people
are changing people are changing the
next thing you have to do is sell see I
come to a lesson in the doorstep in
Benin City Nigeria and Africa seho young
people the woman that stopped the
business if fasting to think about is
calling themselves CEOs yeah if you
think entrepreneurship the next thing to
think about is calling yourself a CEO
but the only thing it’s too early the
reason why businesses don’t survive most
answers because we get to celebrate our
success too early we take the title of
CEO buy a brand new car move change our
houses to a bigger house for beginners
spend profits that will not end and so
one day time come and as a deviation
between our day our estimation and what
really eats sauce we discover that we
have completed of business we spend our
working capital so sell the first statue
if you give us a person in the Premio is
it chief selling officer everyone you
employ as your first stop employees
should help you to sell if you are not
selling my brother my sister say you are
dying because at the end of the day if
your business cannot generate the
numbers it sells to sustain itself then
there is a high chance that it will fail
at the end of it it comes every business
comes down to numbers forget about the
packaging and the
statics every business success is driven
by numbers and that brings me to the
third and last thing let information
draw the direction of your decision now
my little term of spending beneath it I
realized that a lot of businesses in pnc
don’t have information that is very very
pathetic you tell someone to build a
system around his business so they can
get that data analyze the data based on
that make decisions he tells you no it’s
too expensive and so most times we usual
off Trump from no mind senses who have
to go and learn how to drive money oxid
and in your wife acts t person I was
teaching him how do I know we said is my
own is it take i divided route the
rights on your own for the best way to
come now that’s what we do with our
businesses right we just use our
intuition we get up in the morning we
just feel like I will make a decision
not with data not with information what
drives your business decisions decisions
should be made based on available
information if you are going to project
your business you should project your
business based on the fact that you do
not an analysis of what you have done
previously and then you look at where
you are and where you want to get to
that is strategy a strategy that drives
strategic thinking and gradually we’re
moving away from strategic thinking
today to what we call design thinking
design thinking right thinking to design
thinking design thinking is taking the
client one at a time and in a virginal
solution that meets that particular
clients need at that point in time you
can bank on it so how do you make these
decisions when you go to Nicko’s you buy
a set of phones you buy them for a
hundred now I’ve come to Benin you said
over 150 I think no flexor muscle you
have made a 15 hour profit you forgot I
transported to Legos you forgot I’d made
a couple of calls to get the sale done
you forgot your body pop out to put the
phones inside
you forgot even in your shop you have a
periodicity bill you forgot that you
have to buy stationery to
things you do in your business you
forgot you have salaries to pay so you
begin to flex that you’ve made profit of
$50 or in actresses you’ve made a loss
of $150 but how will you know if you
don’t have information trust I’m
standing before you this morning
gentlemen and ladies I’m telling you
that one of the core reasons by what I
have seen in Benin City why businesses
are becoming gradually becoming a shadow
themselves is that I don’t have
information I want to a very big
supermarket one of the biggest whore
market you know in Benin City today I
went into that sort of mechanics them
how do you keep information nothing
what they do is I will call it data
garden as an accountant your work is not
to document transport expenses 5,000
telephone expenses 10,000 you move
beyond data gathering to analyzing the
data because if you tell me 15 era
contra naira
17 era 17 era $25 as a CEO it means
absolutely nothing but what does it
profit of 10 are mean to me in the next
50 years if I make 15 Eryn now and I
call you to make $15 for next 12 months
how does that impact on my capital how
does that make my business crew how can
I plan to expand will I be able to add
that extra shop to my business
that’s what information does do you know
data and what this very big so my kinda
we talked about is doing is just cutting
data we have 16 units of Sox 17 units of
toothbrush and we sold five rows I mean
they because there’s no analysis of this
information they end up stocking up
items that are irrelevant tying down the
capital and item states on the shelf for
two years
worst people are busy looking for that
item they can’t get to buy they don’t
even know which one is fast moving
awfully slow moving because there’s no
information
judgmental ladies if you’re gonna
survive in business today you need to
take a stand you need to carry your
business your business you consume you
your business should give you sleepless
nights
your business will make you stay up all
night gather information analyze
information and then you can be chose
Jason say yes I was there well now I’m here thank you so much
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