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The BusinessDay CEO Magazine December 2017

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B R E A K I N G T H E V I S I B I L I T Y S T R U G G L E<br />

STORY TELLING. WHEN WILL BRANDS FINALLY GET THIS?<br />

SHOLA<br />

LADOJA<br />

ON KEEPING IDEAS<br />

HR GUIDE FOR STARTUPS<br />

“simply green!<br />

“<br />

DECEMBER <strong>2017</strong><br />

A GUIDE ON HOW YOU CAN CREATE AND EXTRACT VALUE FOR YOUR BUSINESS


CON<br />

ON TENT<br />

ENT CON<br />

TENT<br />

04<br />

17<br />

ENT<br />

48<br />

Story!<br />

Story!<br />

When Will<br />

Brands Finally<br />

Get This?<br />

BREAKING<br />

THE VISIBILITY<br />

STRUGGLE<br />

HR<br />

GUIDE<br />

FOR<br />

STARTUPS<br />

08<br />

GUIDE<br />

26<br />

&A<br />

ON<br />

HOW<br />

YOU<br />

CAN<br />

CREATE<br />

Copyright, <strong>2017</strong><br />

Design/Illustration: www.getupinc.com<br />

Content: <strong>BusinessDay</strong> & GetupInc<br />

Cover Photo: Oyebola Famuyiwa (PotterClay Photography)<br />

EXTRACT<br />

VALUE<br />

FOR<br />

YOUR<br />

BUSINESS<br />

CONTENT


ART BY: COLIN O'MARA DAVIS, KELLI FUCHS - ROSEN, MELISSA MAXTED-HENDERSON


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 04<br />

Story!<br />

Story!<br />

When Will<br />

Brands Finally<br />

Get This?<br />

-Ebuka Ezeji


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 05<br />

<strong>The</strong>re's a reason why so many<br />

of us flock to the movies or<br />

spend hours reading novels –<br />

it's because we love to get lost<br />

in a good story. And if you ever<br />

listen to a good conversation,<br />

you'll notice that a lot of<br />

connection happens when<br />

people share stories with each<br />

other.<br />

Storytelling is a powerful<br />

technique for building<br />

relationships. It's an age-old<br />

concept that brings people<br />

together and keeps them<br />

engaged. It doesn't matter<br />

where in the world you're<br />

based or how much funding<br />

your startup has.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 06<br />

A good story holds the listeners'<br />

interest, builds feelings of<br />

connection between narrator and<br />

audience, and provides a satisfying<br />

conclusion.<br />

Good stories give big voices to<br />

small ventures. That's why it's<br />

mission-critical that brands take the<br />

time up front to fully develop their<br />

approaches to storytelling.<br />

On a daily basis, consumers<br />

(myself included) face advertising<br />

overload. Marketers are constantly<br />

competing for my attention. But<br />

truthfully, only the best story tellers<br />

gets my attention.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 07<br />

Let me tell brands the secret of how to get my<br />

attention in this age of advertising overload.<br />

· Make truth the cornerstone of everything<br />

you create. Your story should feature real people,<br />

real situations, genuine emotions and facts. As<br />

much as possible, it should show, not tell. It<br />

should explain--in terms people can relate to--<br />

how your company adds value to my life.<br />

· Your story should offer a fresh perspective:<br />

What's interesting about your company? Why is<br />

it important to me?<br />

· Even if your company sells to other<br />

companies, focus on how your products or<br />

services touch the lives of actual people. By the<br />

way, when writing about people, follow this rule:<br />

Be specific enough to be believable and<br />

universal enough to be relevant.<br />

Email: ebukaezeji@gmail.com<br />

Instagram: @BuksMostFly | Twitter: @ebukaezeji


A<br />

GUIDE<br />

ON<br />

HOW<br />

YOU<br />

CAN<br />

CREATE<br />

<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 08<br />

&<br />

EXTRACT<br />

VALUE<br />

FOR<br />

YOUR<br />

BUSINESS<br />

This article will test your<br />

understanding of some<br />

basics concepts related<br />

to business models. A<br />

business model is<br />

simply a detailed<br />

answer to two<br />

questions: How do you<br />

create value and how<br />

do you extract some or<br />

all of that value?<br />

-Oris<br />

Eddu<br />

@oriseddu<br />

Business models are important for you to understand<br />

because your company, while unique in some sense, will<br />

probably make money in one of four broad ways.<br />

Understanding these four categories will allow you to<br />

more easily build a business plan, determine prices,<br />

identify customer segments, develop marketing<br />

campaigns, and other important activities.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 09<br />

<strong>The</strong> four types of business models represent<br />

different ways of thinking of your company and<br />

the way it relates to customers, partners, and<br />

investors. <strong>The</strong>y help you tell a logical story<br />

about your business.<br />

one<br />

Customer Intimacy businesses<br />

operate by knowing and addressing<br />

the customers' needs. <strong>The</strong> emphasis<br />

in these businesses is getting to<br />

know each customer by collecting<br />

information about them. This<br />

information mostly comes from<br />

marketing, survey forms, interviews,<br />

and observation. Businesses that<br />

operate according to this model are<br />

able to predict and fulfill very specific<br />

needs that other companies do not<br />

notice, or don't care enough to<br />

address.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 10<br />

two<br />

Product Leadership businesses<br />

set themselves apart by<br />

offering new and different<br />

features on an existing product,<br />

or even an entirely new<br />

product. <strong>The</strong>y are often<br />

described as “reinventing” an<br />

industry, and their products are<br />

immediately copied by<br />

competitors.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 11<br />

three<br />

Operational Efficiency businesses create products or<br />

services faster and cheaper than their competitors, often<br />

while sacrificing very little quality. <strong>The</strong>se companies build<br />

dependable but comparatively simple offerings. Large<br />

clothing and food stores are good examples of the<br />

operational efficiency model in practice.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 12<br />

Marketplace businesses are a more recent type.<br />

<strong>The</strong>y allow multiple groups to interact in a<br />

common environment, creating value by sharing<br />

information and discovering new opportunities<br />

to buy or sell things. While physical marketplaces<br />

are a good starting point, newer digital versions<br />

can grow quickly across countries and even<br />

continents.<br />

In any case, the core issues that you must<br />

consider are the same. Create value, then extract<br />

as much as possible. You must validate your<br />

business by answering tough questions. Please<br />

consider these all as you think more about your<br />

particular business.<br />

four


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 13<br />

P lease consider these<br />

as you think more about your<br />

particular business.<br />

How is the customer and<br />

what am I offering them?<br />

How will I reach<br />

the customers I want in<br />

the marketplace?<br />

What is<br />

my idea's<br />

differentiated<br />

value?<br />

What are the costs<br />

What<br />

of<br />

are the unit<br />

production?<br />

What are my<br />

sources of revenue?<br />

Instagram, Twitter: @oriseddu<br />

economics of my product<br />

(i.e. revenue and costs or<br />

selling one single product<br />

by itself )?


Art by MUTI


Art by MUTI


Art by MUTI


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 17<br />

Nnanke Essien<br />

BREAKING<br />

THE VISIBILITY<br />

STRUGGLE<br />

A fight for online<br />

entrepreneurs to be<br />

seen, found and<br />

patronized in an<br />

overcrowded<br />

market place.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 18<br />

Working from home, financial freedom, owning a<br />

business, being a <strong>CEO</strong>, sacking your boss, time freedom<br />

is the dream life most online entrepreneurs envisage<br />

when they set out to begin their online businesses. I mean<br />

who wouldn't love the prospect of literarily staying<br />

indoors and hearing the phone buzz with deposit alerts<br />

every single minute. Whilst these perks sound super<br />

awesome and genuinely have many benefits, my<br />

experience as a visibility expert has shown a different<br />

version of this dream life. Many entrepreneurs whom I<br />

work with are literarily up to their neck in frustration, a few<br />

of the complaints I hear from my clients are; poor online<br />

sales, poor visibility and reach, poor engagement, how to<br />

get more clients and to sell more product,attracting<br />

customers who are ready and willing to pay e.t.c and this<br />

tells me immediately that something is fundamentally<br />

wrong with the way entrepreneurs position their<br />

businesses online.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 19<br />

To survive and stand out, emerging brands must<br />

understand a few fundamentals about visibility marketing;<br />

sure enough posting your business, your products and<br />

your services online as well as social selling are all parts of<br />

visibility, but the often overlooked and frankly the most<br />

important part is the perceived value of your brand by<br />

your clients.<br />

It's in the way your client's see you as the best option over<br />

your competition, in the words you use, in the tidbits and<br />

trails you leave online, it's in the way you make your<br />

clients win all the time, it might surprise you to know that<br />

your clients are not really interested in your product or<br />

service, they are rather interested in how it solves THEIR<br />

wants and needs, so you have to pay attention to those<br />

needs and feelings for them to in turn pay attention to<br />

you.<br />

Value driven visibility takes time and should be planned,<br />

studied and implemented over time.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 20<br />

I have outlined below, 5 simple steps to help you<br />

start your journey to breaking the visibility jinx<br />

and attract the right audience for your business.<br />

1. Mindset: What is your mind saying to<br />

you? It is no news that the online space is<br />

saturated and filled with all sort of stories (good,<br />

bad and ugly). To survive in this environment,<br />

your mindset must be stellar, you must have<br />

ammunition to fight back each time your mind<br />

begins to play tricks on you. In my experience,<br />

affirmations, daily success routines and<br />

surrounding yourself with success triggers and<br />

people have helped me tremendously and I am<br />

certain they will help you too.<br />

2. Clarity, Confidence, Competence:<br />

As with any business, you need to have a clear<br />

vision of exactly where you want to be. It helps to<br />

identify your goals early on, be clear on your<br />

business message and how it will help your<br />

clients. In addition, confidence attracts, so you<br />

must have the potential to share your message<br />

with authority or else you stand the risk of losing<br />

your potential clients (people will follow you if<br />

they know you have a direction and you are<br />

leading them to it). I must also add that<br />

competence increases by acting and doing but<br />

ultimately you increase your competence level<br />

by self-development.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 21<br />

3. Identifying and understanding<br />

your ideal clients: I can't stress enough how<br />

important it is to know who your customers are.<br />

<strong>The</strong>se are the people you want to add value to, the<br />

people you want to jump out of bed every morning<br />

to impact, to serve, and the best part is you get<br />

paid doing it. You want to genuinely identify their<br />

core, their desired outcome, frustrations, pain point<br />

and struggles, so that you can position your<br />

business message effectively as their desired<br />

solution.<br />

4. Visibility marketing: In a bid to remain<br />

relevant and visible in the market you must<br />

consistently lead with value. To achieve this, you<br />

should have a good sense of where your clients<br />

hang out regularly, thereby choosing the right<br />

platform to share your message for maximum reach<br />

and engagement (social media platforms, website<br />

or blogs). You should also understand the kind of<br />

words unique to them and the type of messages<br />

that resonates with them (long texts, audio or<br />

visual). Consistency is another way for your brand<br />

to remain relevant, stay visible and stand out in the<br />

eyes of your ideal clients. NEVER FORGET!!!


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 22<br />

5. Defining your brand voice:<br />

Your clients are naturally drawn to the<br />

experience your brand provides as well<br />

as the way your brand makes them feel.<br />

Think about it, the last time you went to<br />

your favorite perfume or shoe shop, how<br />

was that experience for you…awesome I<br />

guess! In that same spirit think about how<br />

you want to delight and engage your<br />

audience…will you do that in your<br />

message, your logo, the words you use,<br />

the freebies you give them, the promise<br />

land you are taking them to, your colors,<br />

your genuine empathy and care for their<br />

needs and everything in between.I will<br />

leave you with these words by Walt<br />

Disney.<br />

“People spend money<br />

when and where they feel good” -<br />

Walt Disney


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 23<br />

It is my<br />

genuine wish that you<br />

succeed in business and<br />

the more we have<br />

entrepreneurs do things<br />

right, the more successful<br />

and profitable businesses<br />

we have.<br />

Cheers to profitable<br />

businesses every day.<br />

XO<br />

Nnanke Essien


y JULIA GALDO & JUCO PHOTO


y JULIA GALDO & JUCO PHOTO


Shola Ladoja<br />

Shola Ladoja is a pioneer and<br />

example of the agricultural potential<br />

on the African continent. He started<br />

his company Simply Green after<br />

noticing that fresh juices and farm to<br />

table products were not readily<br />

available in Nigeria. What started as a<br />

passion project driven by curiosity<br />

and the need to fill a gap in the<br />

market, quickly became one of the<br />

most recognizable franchises and<br />

brands in Nigeria today. Simply Green<br />

has spearheaded agricultural<br />

initiatives with farms in Oyo and Ogun<br />

state, thus steadily contributes and<br />

enriches Nigerians' ability to enjoy<br />

farm to table produce.<br />

We met with Shola Ladoja, at his<br />

Simply Green location at Workstation<br />

in Victoria Island. Let’s read through<br />

the transcript of the interview given<br />

by Lehlé Baldé.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 27<br />

Lehle: What was your inspiration when opening Simply<br />

green?<br />

Shola: Simply green started as a farm. It started as adding<br />

value to the produce we were growing. <strong>The</strong>re is the brand<br />

and then there is the store, Simply green juices. I started<br />

the brand because I wanted to add value since I was<br />

farming and adding value to things, one of them<br />

happened to be juices. I decided to open the stores<br />

because when I was working in New York I would drink<br />

green juice every day. When I moved back to Nigeria, I<br />

wasn't able to pop in anywhere to buy fresh juice. I<br />

thought it would be simple to have a place where people<br />

can walk in and get farm to table products.<br />

Lehle: Out of all the products at Simply Green, which is<br />

your favourite?<br />

Shola: Funky Beet and Kale.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 28<br />

Lehle: What has<br />

been your<br />

biggest<br />

challenge in<br />

business so far?<br />

Shola: Dealing<br />

with people<br />

(Laughs)<br />

My biggest<br />

challenge would<br />

be staffing. After<br />

that, it would be<br />

infrastructure<br />

problems,<br />

bringing things<br />

like farm<br />

produce,<br />

specimens etc.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 29<br />

Lehle: You entered agriculture at a time when it was not<br />

popular among millennials especially, what advice<br />

would you give as padding for those who are trying to<br />

start a business venture in agriculture?<br />

Shola: I am going to be very honest. A lot of people<br />

have gone into agriculture thinking it is pretty simple.<br />

<strong>The</strong>y think it is the new cool thing and there is this new<br />

noise about it being the new oil and gas. I believe it is<br />

still the same as it used to be. Most people do not<br />

understand the culture. People go into agriculture and<br />

make the biggest mistake thinking it is cool. You see<br />

me now on this chair but if you see me on the farm you<br />

won't know I am the same person. It drains you<br />

physically. It is a very expensive venture. You have to<br />

buy diesel to make sure you can till the ground,<br />

process it, transport your goods, and preserve it in a<br />

cold room. All these things need power hence you<br />

need diesel all the time. My major advice is that you<br />

need to be patient. You cannot expect it to happen<br />

immediately. Regardless, it is very rewarding.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 30<br />

Lehle: That's very essential. It has to<br />

be worth it.<br />

Shola: Yeah, it is worth it. I am<br />

naturally stubborn, if not I would<br />

probably have left. I decided to focus<br />

on it as something I really wanted to<br />

do. I saw another side of it which a lot<br />

of people have not; and that is, you<br />

need to add value to whatever you<br />

are doing, you cannot grow<br />

something and expect to make<br />

money if you do not add value. <strong>The</strong><br />

finished product is someone else's<br />

raw material. So it is about adding<br />

value. I don't do things unless I feel I<br />

am adding value.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 31<br />

Lehle: You have a background in engineering. Would you<br />

say that helped your business in any way?<br />

Shola: Engineering gives you the ability to solve<br />

problems. It is simple, there is just one answer.<br />

Lehle: 1+1 is 2<br />

Shola: Exactly!It gives you the ability to solve problems.<br />

My farm is still growing hence I am still doing a lot of<br />

things by myself. Things such as plumbing, irrigation,<br />

setting up of my solar system, building my farm house<br />

e.t.c I had to manage that by myself. So yes, my<br />

engineering comes into play for some of these tasks. We<br />

have a lot of machinery on the farm, so when something<br />

breaks down and the nearest town is 3 hours away I am<br />

not going go looking for it, I will jump in and try to fix it<br />

myself.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 32<br />

Lehle: You have to be self sufficient basically.<br />

Shola: Yes<br />

Lehle: Where are your farms located?<br />

Shola: I have 2 farms in Oyo state and 1 in Ogun<br />

state. Our biggest farm is in Oyo state, that's where<br />

we do most of our work. We transport to Lagos in a<br />

cold truck and then distribute to stores. Whatever is<br />

left has to be stored so they do not rot.<br />

Lehle: In your opinion, what is the reason for the<br />

heavy reliance of import of fresh produce in Nigeria?<br />

Shola: We actually like the easiest way out of things.<br />

When I look at what I am doing, I think someone<br />

should have done this a long time ago. <strong>The</strong>re is no<br />

company that bags veggies the way we do it. When I<br />

was about to start, I felt, there would definitely be<br />

someone doing the same thing I wanted to do and<br />

found out that there is no one. I think Nigerians are<br />

looking for easy and simple ways to make money. It<br />

took me 4 years to start making profit.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 33<br />

Lehle: I'm sure there were times that you felt like giving<br />

up, how were you able to stick to your vision?<br />

Shola: It is passion. My dream has always been me retired<br />

at 50 years, watching my children being on the farm, just<br />

enjoying life I see it as, if a plan isn't working it doesn't<br />

mean you have failed. It just means you have to find<br />

another way. I believe there have been people before me<br />

farming and if they were not making money from it, there<br />

would be no farms.<br />

Lehle: What is your business structure? Do you have a<br />

board of directors, or advisors?<br />

Shola: It is just me. I do not have advisers however, I have<br />

mentors, not in agriculture but business in general. My<br />

Dad is my biggest mentor. I have even gone as far as<br />

going to bring two business partners who did not know<br />

anything about farming but now they are professionals. So<br />

I am also trying to build a group of farmers. I do not have<br />

advisers because I feel people don't understand farming<br />

in Nigeria enough for me to rely on them. I do not see<br />

anything out there that is better than what I am doing.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 34<br />

Lehle: So basically, you had to<br />

do a lot of research. You had<br />

to spend time mastering your<br />

craft?<br />

Shola: All I used to do is travel<br />

out of the country every 3<br />

months to work on a farm to<br />

learn. I have been to the<br />

Netherlands, Belgium, Egypt.<br />

It helps with staying innovative<br />

and competitive.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 35<br />

Lehle: How do you think<br />

technology helped your<br />

business?<br />

Shola: In terms of farming,<br />

my farm is highly<br />

technological. I monitor a lot<br />

of things on my phone. I can<br />

turn on the irrigation system<br />

online. Imagine if you had<br />

water for a big plot of land<br />

and you can control the<br />

irrigation system from your<br />

phone that just drops water<br />

on each plant. When you<br />

spray you run out of water<br />

faster but when you drop it,<br />

it stays. You give the crops<br />

different amounts of water.<br />

Infrastructure as well, the<br />

tractors, the cold room runs<br />

strictly on solar power.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 36<br />

Lehle: How do you see Simply Green growing in the next<br />

5 years?<br />

Shola: My biggest drive when it comes to farming is the<br />

annoyance I feel seeing things being imported to Nigeria.<br />

Things like tomatoes, lettuce e.t.c, which we have the<br />

capability to grow and sell locally.<br />

My hope is to continue providing farm to table produce<br />

and products for our customers and to further enhance<br />

and innovate the agricultural industry in Nigeria.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 37<br />

It is passion.<br />

My dream has always<br />

been me retired<br />

at 50 years.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 38<br />

For more information on<br />

Simply Green please visit:<br />

www.simplygreenjuice.com<br />

Instagram: @shola_ladoja


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 39<br />

DEAR NIGERIAN<br />

ENTREPRENEUR, YOUR<br />

GREATEST BUSINESS THREAT<br />

IS NON-CONSUMPTION!<br />

-David Afolayan<br />

Sometime last month, it was in the news that a ride<br />

sharing app, GoMyWay decided to shut down its<br />

operations. This followed a decision by its shareholders<br />

to shut down operations as there were no funds to invest<br />

further. This struck like lightening in the tech space<br />

especially as the startup had not shown any sign of<br />

struggle.<br />

While there were attempts to explain the collapse by<br />

some, the bottom line is: Gomyway did not get the<br />

needed traction that may be converted to earnings to<br />

support itself and grow. Consider the figures: 2,000+<br />

members; 106,630 rides offered and rides shared across<br />

16 states in 2 years. Divide these numbers by the actual<br />

pollution of the 16 states and the number of actual rides<br />

shared in these locations. It lost to non-consumption.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 40<br />

What is<br />

Non-Consumption?<br />

In his article, “Non-consumption is<br />

Your Fiercest Competition- and it is<br />

winning”. Efosa Ojomo defined<br />

non-consumption as “the inability<br />

of an entity (person or<br />

organization) to purchase and use<br />

(consume) a product or service<br />

required to fulfill an important jobto-be-done.<br />

This inability to<br />

purchase can arise from the<br />

product's cost, inconvenience and<br />

complexity, along with a host of<br />

other factors”.<br />

Simply said, people cannot buy<br />

what you offer because they cannot<br />

afford to, for a number of reasons.<br />

Like GoMyWay, some businesses<br />

are going under not because the<br />

business plan is faulty but because<br />

the people simply CANNOT buy<br />

what they are selling. But, how<br />

rarely is non-consumption<br />

considered when entrepreneurs<br />

are assessing threats to their<br />

businesses?


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 41<br />

Who is buying what you are selling?<br />

A 2016 report by Ericsson revealed that 53% of<br />

Nigeria's population operates a bank account. That<br />

implies that 5 out of every 10 Nigerians do not<br />

operate a bank account. That implies that a near half<br />

of the entire population cannot make online transfers,<br />

pay with credit cards or even own BVN numbers. <strong>The</strong><br />

World Internet statistics report of September <strong>2017</strong><br />

also indicates that only a total of 47.7% of Nigerians<br />

have access to the internet. That also implies that 1 out<br />

of every 2 Nigerian has a problem with internet<br />

connection.<br />

Other indices such as exposure to quality health<br />

services, access to power and quality education all<br />

point to one fact: the majority of Nigerians are still<br />

struggling with enjoying the basics of a quality life:<br />

electricity, health, broadband, quality education and<br />

access to financial services. How come most of the<br />

solutions we come with (ecommerce, transport,<br />

hospitality etc.) are designed to service the smaller<br />

privileged populace? Think about it. How many cabhailing<br />

apps exist in Lagos? How many FinTech<br />

startups? How many ecommerce giants?<br />

If you estimate how much is being spent on clothes<br />

daily at Yaba market versus how much Konga/Jumia<br />

sells on clothes daily, you can decide who is really<br />

leading the market? How many Lagosians would<br />

rather buy fruits from an online store than buy it in the<br />

neighbourhood market? How many market women<br />

make daily contributions rather than go to the bank?


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 42<br />

<strong>The</strong>n,<br />

who<br />

is actually<br />

buying<br />

what we<br />

are<br />

selling?


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 43<br />

Non-Consumption Exist when solutions<br />

are for Non-existent Problems…<br />

It will surprise you to know that ride-sharing is an old<br />

phenomenon in the transport sector. I traveled<br />

recently to a part of Osun state. When I got to the<br />

park, I found an empty bus with the driver screaming<br />

their destination endlessly.<br />

As I was contemplating joining the bus, my guide<br />

told me that I would find a bus quickly and at a<br />

cheaper rate, if I walked a few meters away. Guess<br />

what? I did find a bus 25% less than the garage price<br />

which picked passengers along the way. What is<br />

more? <strong>The</strong> driver was a private owner. We sat<br />

comfortably, discussed almost everything, shared<br />

drinks and paid less. That was a solution GoMyWay<br />

sought to provide. <strong>The</strong> real question is why should<br />

an average daily traveler use the app rather than<br />

walk few meters away and flag a car? People pay for<br />

solutions.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 44<br />

Non-Consumption:<br />

Because we are<br />

Nigerians!<br />

Certain things are not going to<br />

change. Nigerians love to<br />

bargain before buying. <strong>The</strong>y<br />

somehow believe that a phone<br />

could be gotten at a cheaper<br />

price at Computer Village even<br />

when they see 80% discount on<br />

an e-commerce site. Any<br />

commerce solution that does<br />

not factor-in this fact will remain<br />

a luxury option.<br />

At this point in our existence,<br />

certain things do not constitute<br />

priority for the majority: making<br />

payments by scanning a code,<br />

searching for the nearest<br />

restaurant or recharging with<br />

an app. <strong>The</strong> solutions that are<br />

disrupting the developed<br />

climes may not stand the times<br />

here.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 45<br />

What shall we do to be saved?<br />

Efosa talked about Entrepreneurs investing in<br />

a type of innovation called 'market-creating<br />

innovation'. This involves transforming<br />

complicated and expensive products into<br />

simpler and less expensive products, making<br />

them accessible to significantly more people<br />

in society. Most solutions that appears to be<br />

for rich and skilled only today can be<br />

consumed by the rural majority if we go the<br />

extra mile to create those that suit their<br />

needs.<br />

Similarly, Nigerian entrepreneurs should start<br />

thinking about problems first then solutions.<br />

It should be clear that Silicon Valley models<br />

will not thrive here.<br />

Our challenges are different.<br />

Rather, we should look at creatively solving<br />

those challenges that seems to be holding us<br />

down: power, infrastructure etc. After, we<br />

have solved these minor problems, we can<br />

then sell our solutions on a larger scale.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 46<br />

Putting<br />

it all<br />

together.<br />

It bothers me to know that<br />

almost everyone wants to do<br />

the same thing that sells.<br />

<strong>The</strong> result is that we compete<br />

for a small niche until someone<br />

discovers a new potential.<br />

<strong>The</strong> millions we seek are in the<br />

hands of those that are outside<br />

the loop and how we get them<br />

depends on how much we are<br />

willing to sacrifice to reach<br />

them.<br />

THIS IS<br />

NIGERIA!


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 47<br />

KABANGU by: OSBORNE MACHARIA & KEVO ABBRA


HR<br />

GUIDE<br />

<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 48<br />

FOR<br />

-Emmanuella Unuode<br />

STARTUPS<br />

– Develop you<br />

People Operations<br />

Strategy.<br />

Dear Entrepreneur Do you think<br />

of Organizational Structure?<br />

I always advise Entrepreneurs not<br />

to wait until there is a crisis or<br />

sudden growth before they begin<br />

to think of structure in their<br />

startups. Let's face it, building and<br />

developing structure in the


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 49<br />

business landscape today is<br />

almost as important as<br />

getting your daily breath of<br />

air. Some might think that<br />

this statement is a little over<br />

the top, but if one really<br />

looks at the impact of clear<br />

structure on funding and<br />

scalability, the above point<br />

proves to be true.<br />

Ultimately, I advise<br />

entrepreneurs to consider<br />

the current and future<br />

structure of their companies<br />

early on. Taking this<br />

proactive approach has<br />

several benefits.<br />

It helps you build the<br />

company in a thoughtful<br />

way by guiding you and/or<br />

your leadership team to<br />

consider what positions you<br />

will need.<br />

It also creates clear<br />

responsibilities and roles<br />

when you begin hiring<br />

people to fill those needs.<br />

Finally, it will help you


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 50<br />

identify the types of skills you need<br />

in early employees and/or<br />

business partners.<br />

Having a clear organizational<br />

structure will make your company<br />

more attractive to investors.<br />

<strong>The</strong>y gravitate toward companies<br />

that have well thought out ideas<br />

and a clear direction.<br />

Today's workforce population<br />

includes millennials, who have<br />

been raised on technology, and<br />

see their jobs less as a career and<br />

more as a stepping stone to<br />

something else, in order to attract<br />

and retain the best talent from this<br />

millennial pool, you must step up<br />

your game and develop a<br />

compelling brand.<br />

One important part of this step is<br />

to ensure that you have a define<br />

organizational structure &<br />

articulated strategy, a defined<br />

structure including job<br />

descriptions and documented<br />

people operation processes is an<br />

important marker for serious<br />

investors/talent.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 51<br />

When your company starts growing, some of your<br />

employees may be in cross-functional teams<br />

reporting to different managers.<br />

An organizational structure will allow you to clearly<br />

identify the reporting relationships.<br />

Document the various roles and duties for the<br />

company;be specific and avoid vague titles for job<br />

descriptions.<br />

I strongly recommend startups should have job<br />

descriptions for various positions even if those<br />

positions don't yet exist or one person is handling<br />

several positions


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 52


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 53<br />

I recently engaged in a conversation<br />

about people operations with a spa<br />

services owner in Lagos.<br />

She said:<br />

“Emma, I don't care about structure<br />

right now, I applied for money from<br />

investors, once I get it, I'm taking my<br />

business to the next level”<br />

My reaction:<br />

“hmmm Excuse me, I am confused???<br />

Next level? Funding? With no<br />

structure??”<br />

Anyways, I suggested - among other<br />

things - that she works on building the<br />

necessary people infrastructure that<br />

would reflect her vision & values to give<br />

off the right perception to investors or<br />

partners.<br />

An investor may over look her because<br />

she may be perceived as a failure<br />

waiting to happen due to a lack of clear<br />

structure.<br />

When potential investors or partners or<br />

employees approach your business,<br />

what do they see? How do you want<br />

them to feel? How do you want them to<br />

perceive you?


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 54<br />

It is important to understand that<br />

developing organizational structure<br />

require planning; I know it is a big<br />

step to take, one that can leave you<br />

wondering where to begin.<br />

<strong>The</strong> main thing to do is take stock of<br />

things & familiarize yourself with<br />

everything people operations (HR).<br />

Ask yourself these questions before<br />

investing in your organization<br />

structure-<br />

Ÿ Who will report to whom?<br />

Ÿ How will teams be<br />

structured?<br />

Ÿ Why do you want your<br />

workforce structure set up<br />

that way?<br />

Ÿ Does it meet the basic<br />

company priorities efficiently<br />

and effectively?<br />

Ÿ Can it sustain the company's<br />

vision should any type of<br />

disaster strike?


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 55<br />

By analyzing these questions, you can begin to pick the<br />

areas to design and implement while you still have the<br />

time and resources available.<br />

<strong>The</strong> question then becomes “Do I have to have a fullfledged<br />

structure immediately?” <strong>The</strong> answer is No, you do<br />

not have to have a fully-fledged organizational foundation<br />

in place immediately, however, a basic structure will help<br />

you with many of your decisions, especially related to<br />

manpower planning and outsourcing any work.<br />

In the constant changing entrepreneurial world we<br />

operate in, it is imperative that you have the right<br />

structure & guidelines in place to help sustain even the<br />

smallest amount of growth, reflect your values as a<br />

business and attract the type of clients and employees<br />

that you desire.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 56<br />

Misconceptions of<br />

Millennial body<br />

positivity<br />

By Tamara Ncala<br />

When we speak of millennials and the general<br />

understanding of them, there tends to be a focus on their<br />

social liberalism that characterizes their approach to life<br />

as well as the digital age that has created a new era of<br />

communication and expression.<br />

With this social liberalism, millennials are seen to go<br />

against the discriminatory and oppressive norms that exist<br />

in Western influenced societies much more than<br />

generations before did.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 57<br />

Within this atmosphere, we have seen a<br />

rapid rise in advocating for the reevaluation<br />

of beauty standards related<br />

to body image and health and how the<br />

media plays a vital role in this.<br />

IT IS ABOUT<br />

WEARING<br />

WHAT YOU<br />

WANT AND<br />

EXPRESSING<br />

YOUR<br />

HAPPINESS<br />

AND<br />

PROUDNESS.<br />

We live in a social media infested<br />

society today where social media<br />

platforms have allowed for the<br />

millennial generation to express<br />

themselves and be proud of their<br />

bodies through imagery, articles, blogs,<br />

and many other media outlets.<br />

Millennials are much more aware of how<br />

marketing and manipulation in the<br />

media influences the ideological<br />

perception of beauty. We have therefore<br />

seen a shift in the body image narrative<br />

but with this, there has also been a rise<br />

in the misconceptions of what body<br />

positivity advocates for.<br />

This has created a tension-filled<br />

atmosphere that has formed antibody<br />

positivity movements by default, which<br />

stir away from the truth.<br />

<strong>The</strong> ideological shift is progressing but<br />

there is still a wide sense spread of<br />

discrimination concerning body<br />

positivity.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 58<br />

Body positivity emphases loving one's self at<br />

any size and feeling confident at the same time.<br />

<strong>The</strong> movement focuses on not shying away<br />

from exposing bodies that are not seen as<br />

conventionally attractive or normal within the<br />

mass media spaces and Western societies in<br />

general. It is about wearing what you want and<br />

expressing your happiness and proudness.<br />

Millennials are fundamentally fighting against<br />

the restricted standards of body<br />

representations within Western society, by<br />

pushing for an equal stance.<br />

Being within this space has created a negative<br />

perception that this movement has given way<br />

for 'fat' people to stay fat and not face scrutiny<br />

with unhealthy eating habits.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 59<br />

”<br />

Essentially as soon<br />

as something<br />

diverts away from<br />

the norm in society<br />

it creates almost an<br />

automatic defense<br />

which in this case<br />

centers on body<br />

desirability and<br />

body health.<br />


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 60<br />

<strong>The</strong>re is the misunderstanding<br />

that body positivity is directly<br />

correlated with an unhealthy<br />

eating lifestyle creating these<br />

antibody positivity movements.<br />

This perception is continuously<br />

expressed with the comments<br />

or responses on the media<br />

platforms that promote the<br />

body positivity movement.<br />

Essentially as soon as<br />

something diverts away from<br />

the norm in society it creates<br />

almost an automatic defense<br />

which in this case centers on<br />

body desirability and body<br />

health.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 61<br />

<strong>The</strong> concept of what is desirable and what is<br />

healthy I would argue is almost solely linked to<br />

media representations and the dissemination of<br />

what health and desirability look like.<br />

Mass media continuously promotes norms of the<br />

ideal body type.<br />

In a general sense, this body type would be<br />

described as slim with a small waist, flat stomach,<br />

small legs and small hips.<br />

Body positivity disrupts this norm and encourages<br />

people to love themselves at any size which is not<br />

something that is taught.<br />

Anyone that possess the traits of a 'slim' body<br />

is seen as 'healthy' because it is the<br />

‘standardized representation’ of what health<br />

looks like. If a 'fat' person and a 'slim' person<br />

stand together almost always the slim person<br />

will be seen as ‘healthy’ and the fat person as<br />

‘unhealthy’.<br />

People have different metabolisms, therefore,<br />

one person can eat healthily and still be a<br />

larger size, just as much as a slim person can<br />

eat extremely unhealthy but still be slimmer.<br />

This poses the question, 'how can we really<br />

judge health based on body shape when<br />

metabolism indicates that people process<br />

foods differently?'


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 62<br />

People that are against body<br />

positivity need to understand<br />

that the movement is about<br />

eradicating discrimination<br />

against people that do not fit in<br />

the "perfect body" box and not<br />

misconceive it for an excuse for<br />

an unhealthy lifestyle.<br />

<strong>The</strong>re is more to what makes an<br />

individual unhealthy and we<br />

need to focus on not solely<br />

basing it on a person's body<br />

shape.<br />

Millennial groups are<br />

acknowledging that size is not an<br />

overall indicator of health and it<br />

is these group that has the task<br />

of spreading awareness and<br />

changing perspective.<br />

<strong>The</strong> body positivity movements<br />

that exist today are a start in this<br />

direction but we still have a long<br />

way to go.<br />

By Tamara Ncala


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 63<br />

4<br />

UNIQUE<br />

WAYS TO<br />

MAKE YOUR<br />

BRAND<br />

STAND OUT<br />

IN A<br />

COMPETITIVE<br />

INDUSTRY.<br />

-Bassey Ndiokho medium.com/@nathanbassey<br />

<strong>The</strong> concept of disruptive innovation seems to be the goto<br />

strategy for a lot of startups in today's market place;<br />

unfortunately, the idea is gradually being abused.<br />

Everybody wants to be the new ‘Zuck’ but forget the<br />

process and time it took for these companies to occupy<br />

the position they are in today. To put things in<br />

perspective, the average amount of years that Google,


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 64<br />

YouTube and Facebook have been operating is<br />

about 15 years. Include Twitter, Instagram,<br />

Snapchat and Uber in that list and you still<br />

have an average of about 10 years.<br />

Technology has made it easy to promote any<br />

business today. Sadly, this leverage is also its<br />

weakness as more and more businesses are<br />

sprouting up everyday. While the rate of<br />

business supply continues to grow<br />

exponentially, the market size is still trying to<br />

catch up. Looking at industries that have been<br />

around for decades, it's easy to understand<br />

how the tech industry has enjoyed massive<br />

attention and popularity in the past few years.<br />

<strong>The</strong> market was tired of the same<br />

old story and was prepared for<br />

disruption. Borrowing a page from<br />

the tech industry playbook, the<br />

question now is; how can a new<br />

player in an industry stand out<br />

from it's competitors; how can<br />

your brand grab the attention of<br />

the same finite target market.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 65<br />

Be attractive - design with<br />

purpose.<br />

Design is not art. Design is<br />

functional and answers questions,<br />

while art is abstract and makes one<br />

ponder. When you want a website<br />

or logo, do some research. Find out<br />

the design trend in your industry<br />

and decide how you want to look<br />

different. It's saves you both time<br />

and money. A lot of times, the idea<br />

of being attractive is misconstrued.<br />

Some businesses want to start with<br />

a logo but don't have enough<br />

information on the kind of business<br />

they're into and the needs of their<br />

target market.<br />

<strong>The</strong>re is the place of market<br />

research, which a lot of businesses<br />

forget. This is meant to inform your<br />

brand identity and everything<br />

related to it. <strong>The</strong> concept of being<br />

attractive is to bring or 'attract' the<br />

right customers to your doorstep. If<br />

you take care of marketing right,<br />

customers should be so excited,<br />

they can't wait to interact with your<br />

brand. With a customer centric<br />

design, this is possible.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 66<br />

Don't be boring.<br />

Content is king, but boring content is<br />

repulsive. To engage your audience, tell a<br />

story and see how they respond; however,<br />

you tell it also matters. Whether it's visual,<br />

audio or audiovisual, try and spice up your<br />

marketing strategy. A great content creation<br />

idea is to document experiences. Creating<br />

content from the scratch can be a boring task<br />

in itself, but documenting events is a form of<br />

storytelling on its own. It's a content<br />

marketing strategy many brands should need<br />

to explore to stand out in the market place.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 67<br />

Don't sell a product<br />

when you can sell an<br />

experience.<br />

Mass advertising used to be<br />

the norm in the early days<br />

but that is becoming more<br />

ineffective in the digital era.<br />

It's not just enough to tell<br />

people about your product,<br />

you must show them why<br />

they should choose you. An<br />

experience is personal and<br />

memorable. We always<br />

remember how we feel at<br />

certain moments in our lives.<br />

<strong>The</strong>se experiences are<br />

culminations of our senses.<br />

You need to look at ways you<br />

can use visuals, sound, touch<br />

or smell to influence how<br />

your customers interact with<br />

your brand. I don't know<br />

about most people but I like<br />

the way my MacBook feels.<br />

This is an additional<br />

experience despite the<br />

functional value of the<br />

product.


<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Dec <strong>2017</strong> | 68<br />

Be empathetic<br />

This is simply answering<br />

the question; 'Why am I<br />

in business?'. If you're<br />

only out to make<br />

money, then the<br />

business may not last<br />

very long. A number of<br />

businesses we admire<br />

today were born out of<br />

a desire to change the<br />

status quo. After<br />

reading Richard<br />

Branson's, 'Finding my<br />

virginity', I understood<br />

and admired his<br />

passion and drive for<br />

business. Also I learnt<br />

that serving your<br />

market should be the<br />

core of your business.<br />

Any brand that decides<br />

to go the extra-mile for<br />

customers ends up<br />

winning their heart.<br />

Take time to answer<br />

complaints and look for<br />

feedback.


ART-<br />

Kaylan M<br />

<strong>The</strong>odore Levy<br />

High Tide<br />

Maggie Picard<br />

Matteo Meraldi<br />

Happycentro Design Studio<br />

Alexandra Zutto<br />

Nicola Morino<br />

Muti<br />

Si Maclennan<br />

Zim & Zou<br />

Balint Jaksa<br />

Julia Galdo<br />

Juco Photo<br />

Colin O'mara Davis<br />

Kelli Fuchs - Rosen<br />

Melissa Maxted-henderson<br />

Osborne Macharia<br />

Kevo Abbra<br />

Ihor Smishko


ART BY: Udegbunam Tochukwu Bernard Johnbosco<br />

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