The BusinessDay CEO Magazine December 2017
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<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.
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