BUILDING AND EXPANDING MY BUSINESS: WHICH WAY?

 EXORDIUM

In as much as we strive to do God’s Will on planet earth and then make Heaven, we do not lose sight of the fact that we must also strive to be relevant in the scheme of things here on earth. This means that we must strive to strike a balance between being Heavenly useful and earthly useful, not heavenly useful but earthly useless or earthly useful but Heavenly useless. 

God has promised to bless the works of our hands (cf. Deuteronomy 30:9). These works of our hands include our ideas of businesses as well as our actual businesses. Whatever your hand finds to do, do it with all your might (Eccl. 9:10).  

There are areas where unbelievers seem to be doing far better than believers (Luke 16:8). They are more street-wise and have more business acumen and so end up getting businesses’ bigger pies. It is not wrong for Christians to strive to be successful in earthly matters. Their successes will in no small way impact positively on the Kingdom businesses. The more successful Brethren become, the better for the Body of Christ. God has given to us all things that pertain to life and godliness (II Peter 1:3).

In this presentation, we will seek to consider a number of things that would help us to build and expand our businesses. 

Let me say that irrespective of how hard a business environment might be, Christians can still prosper. When there is a “casting down,” we can say, “There is a lifting up” (Job 22:29). When famine defined the operational environment of Abraham’s days, God’s Word declared that, “Abraham planted in that same year and reaped….” So, you can succeed where others fail. 

It is pertinent to state that I am not here as “Mr. Know-it-all” or one who has the final solution to your business challenges. Far from these. I am only an idea merchant. I deal on ideas, and because ideas rule the world, good ideas are what you need to reposition your business. Therefore, I want to encourage you to pay attention to what I will be saying. In the course of these, an idea might flash through your mind. When this happens, catch and domesticate such ideas. My duty today is chiefly to create an environment in which we can cross-pollinate ideas. It is going to be a relationship between town and gown (that is, those in the academia and those in various industries). 

BUILDING AND EXPANDING MY BUSINESS: WHICH WAY? 

DEVELOP EFFECTIVE AND PURPOSE-DRIVEN CUSTOMER RELATIONS

Aside money as a capital in business, a major business resource are your customers. These are those who determine whether you will sink or soar in your business activities. Their loyalty through patronage is what determines your progress. 

A number of factors, however, determine whether you occupy a strategic location in your customers’ nodes of influence (that is, when they think of who to patronize, do they consider you first or last) is the way you relate to them. To posit yourself and your business in their respective psyches will require a combination of factors, namely, having emotional intelligence, honesty and value-added services. 

Worthy of mention is Emotional Intelligence. Intelligence Quotients may be much needed in a classroom and as a student but may be useless in the field. Emotional Intelligence is preferable. 

To succeed as a businessman, you need a large dose of emotional intelligence. This is a situation where you as a business man creates emotional bank accounts in your customers and make huge deposits into them. Creating emotional bank accounts is not a difficult thing to do. It could be as simple as sending an SMS, making one-minute calls, running errands and giving small incentives to your customers. Whatever it takes to retain your customers and to attract new ones, so long as they are Biblically and lawfully defined, please do. 

Seek to reward customer loyalty and your customers will continue to troop in.

 ADVERTISE YOUR PRODUCT OR SERVICE (John 7:5).

Tell the world what you can do. At John 7:3-4, we read:

His brethren therefore said unto him, Depart hence, and go into Judaea, that thy disciples also may see the works that thou doest. For there is no man that doeth any thing in secret, and he himself seeketh to be known openly. If thou do these things, shew thyself to the world. 

This is one of the best public relations and advertising principles known to man. If you do not say you are, nobody knows you are. Go to places where your services are needed. Tell them what you can do and what you can do better than others. You cannot succeed because people pity you. No, you can only succeed because of what you can do. So, go sell yourself to the world. 

Place an advert in any medium and see what happens. Media confers certain status on people, products or services. Advertisement will generate traffic to your business. 

BE INNOVATIVE

“Build a better mousetrap and the world will beat a path to your door.” Human beings have zero-tolerance for stagnancy. You have to move with the time or else, you would be left behind. We live in a computer age. Technology has changed and is redefining ways things are done. In the past, manual typewriters were in vogue, today they are no longer relevant. Barbers who were using razor blades and manual hand held clippers have been driven out of business. Auto mechanics who are wise are busy migrating to computer-enabled auto mechanics because in no distant time, manual automotive repairs will be a thing of the past.  

 

In some villages in India, market women are using computers to sell tomatoes. In Nigeria, some fashion designers are now making use of computers to take measurements, generate 2D and 3D designs to enable them come up with bespoke designs.

 

Any product or service that remains static will be left behind. Any business person who wants to remain relevant must find out the latest trend in his/her industry, take a step further and innovate. So, ask yourself, are there changes going on in my area of business? What can I do to move up with the prevailing trend? What can I do to be ahead of competition?

 

Customers and clients prefer to see changes occur from time to time. Therefore, you must learn to strategize and reposition your business, products or services. Even if it means repackaging your products or repainting your shop or facility, show some new life in what you do. Bottom line is that you must have a nose for improvements. Seek out new products or services to add to your offerings.

 

If you do not innovate, you die. Many businesses are folding because they are not measuring up to the trend. Take SAMSUNG and NOKIA; BIRD and SAGEM products as classical case studies. These four came into the Nigeria phone market, two are still maintaining their market presence and enjoying their market share but two are out or are maintaining skeletal presence. What is the difference? Innovation! While SAMSUNG and NOKIA are busy rolling out new product offerings, the other two have remained as they were and so have been knocked out or boxed into irrelevance. This can become any business person’s experience.

 

EMPLOY MULTIPLE STREAMS OF INCOME STRATEGY

In the vicissitudes of life, the only thing that is permanent is change. Because of uncertainties of life and of business environments, you would need to develop multiple streams of income. “When one door closes, another opens” is not for a person with one source of income.

 

God has taught us the importance of MSI when He planted Garden of Eden and watered it with four streams: Pison, Gihon, Hiddekel and Euphrates (Genesis 2:10-14). Why four streams? Should one stream dry up, three would sustain the Garden. Should a second stream dry up, two would keep the Garden watered. By the time, the fourth stream would dry, rain would have fallen upon Earth again.

 

God is wise. We must learn from His example. There is no law that says you must focus only on one business or profession. You must not put all your eggs in one basket. The more you spread your tentacles the better. Ecclesiastes 11:1-4 encourages us to diversify.

 

Every successful business person knows the importance of diversifying into different portfolios. Take a look at Dangote, Adenuga, Innoson, Peace, etcetera. They are into manufacturing, services, oil and gas; communication, real estate, etcetera. Tony Elumelu and Jim Ovia were men who bestrode the banking sector like colossus some years back until Mallam Sanusi’s led Central Bank of Nigeria (CBN) came up with a policy that any bank’s Chief Executive who has stayed on seat for a given number of years would step down for a new MD/CEO. Both men and their ilk who were new look Nigeria’s and Africa’s multi-billionaires had prepared themselves ahead of the development. Tony Elumelu had set up an NGO while Jim Ovia had established Visafone. What do these tell you? They knew that one door would close someday so that they would switch to the other.

 

In an uncertain business and economic environments, there is a strong need not to operate in a mono mode but on poly mode. Do not be mono functional but polyfunctional mode.   

CONSIDER WASTE-TO-WEALTH ALTERNATIVE

I Samuel 2:8 holds a powerful key wealth-creation that many people are looking down upon – waste to wealth (scrap aluminum, polythene and plastics). Open your eyes to see the wealth potentials in this area of business and you will be marvel. Some people are seeing well but others are not (Jeremiah 1:11-12; Mark 8:22-25).

 

Walk up to a dealer in any of these, engage him/her in discussions and you will be amazed at the wealth-creation potentials in these. Recycling business is a lucrative multi-billion Dollar business. Advanced economies do not play with recycling business be it human waste, waste water, waste everything. They are busy recycling and reclaiming their environments. The world is going green and one way to ensure that is recycling.

 

Waste-to-wealth could be a dirty man’s business but it surely is a lucrative one. Writing on, The Lure of Entrepreneuring, Sunny Obazu-Ojeagbase, one of the foremost promoters of entrepreneurship in Nigeria in his well published monthly magazine, Success Digest of February, 1998 edition, page 47 wrote this timely piece as he asks and challenges us:

 

Have you ever been in the vicinity where human waste is being emptied from a septic tank? Right, you’ve got it: it’s not a nice place to be around! What with flies and the foul smelling odour that fill the air. The people providing the important service of emptying septic tanks have a nice slogan that puts the reward of their job in a sweet-smelling perspective. They say, ‘Owo igbe kii run,’ which means that ‘human waste money does not smell.’ And I agree with them absolutely, it doesn’t!

 

I encourage you to make enquiries. Think along this line. Have you heard the story of Mr. Otumba who started Mobile Toilet business in Nigeria? It all began when MKO Abiola was to be buried. He knew that wealthy people would be in attendance, that they would eat and drink and would need to answer the call of nature. He reasoned that it would be very embarrassing for a “big man” or “lady” to hold his/her anus in apparent need for a place to answer the call of nature. He came up with a Mobile Toilet idea, made lots of money and is still making. You pay him to collect your human waste, he in turn your waste into money. How? He deposits it into a pit from where he generates Methane Gas. He drains it after obtaining gas and sells off the rest to commercial farmers who use it as manure. Today, he is a multi-millionaire courtesy of recycling human wastes. He dines and wines with kings and presidents across Africa.

 

BE DILLIGENT

Diligence defines the totality of the way you go about your business or work. A diligent person is one who is detailed, careful, effective and efficient; he/she is a professional to the core. His/her customers are satisfied with his/her services or products.                         

 

Martin Luther King Jr. said, “If a man is called to be a street sweeper, he should sweep streets so well that the Host of heaven and Earth will pause to say, ‘Here lives a great street sweeper who did his job well.’ ” This is diligence at work.

 

How diligent are you? Diligent persons have potentials of standing before great people and ending up great (Proverbs 22:29). One diligent barber in the city of Chicago was so professional with his barbing business that today he is a power broker in White House, America’s Presidential Villa. How did he do it? Mr. Barrack Obama was attracted to his expertise in barbing hair when he was practicing Law in the city of Chicago. When he became senator, he continued as his barber and then came in the big one – when Barrack Obama became America’s first African-American President, he had no choice than to bring to White House who knew how to do it well.

 

Whatever you are doing now, let diligence define you – do it with all your might (Ecclesiastes 9:10). Do not neglect the days of little things (Zechariah 4:10). One little thing you did diligently to somebody: client or customer could open the door to greatness.

 

Do not become like Osuofia who as an Okada rider would quarrel with every prospective client and at the end of the day would go home with an empty pocket, claiming that no one patronized him. Do realize that one customer or client pleased is many customers won but one customer or client displeased is many customers or clients lost. That is to say that the major reason why you are in business is to please those who patronize you. Until the world is no more, customers remain kings and queens. You are only a servant. How well you serve is what determines how well you are appreciated.       

 

Diligence is also important in how you handle your finances. You must be careful with your inflow and outflow.

 

SCAN YOUR ENVIRONMENT

If you want to break even in your business, you must learn to scan your operational environment. Apostle Paul in Acts 17:23 took time off to scan an environment he found himself. By doing that, he discovered an unmet need. He took the solution to the door steps of the people.

The same principle can be replicated in the world of work and business. If you really want to make impact, be productive and relevant, there is need for you to scan your environment. By scanning your environment, you are likely to discover:

1.    An unmet need.

2.    What is being done but is not being done well.

3.    What you can improve upon.

 

Stop looking in one direction – look in all directions. Do not be myopic. Be omni-directional in your search and you will be handsomely rewarded.

 

CONSIDER THE AGRIC OPTION

Agriculture is one sector of Nigeria’s economy that is laden with potentials. As we speak, Nigeria is the largest producer of yam and cassava, yet, she cannot meet demands for these in the international commodity market. So, we need people to help us tap into this multi-billion Dollar sector.

 

It was said that a Chinese once visited Nigeria. Upon seeing the vast potentials in our agro-allied industry shouted, “Money! Money!! Money!!! In Nigeria, money grows on trees!” Fact is, what we are not seeing, others are seeing them. Why are there influx of Chinese, Lebanese, Indians and other foreigners into Nigeria on a yearly basis? It is because they see potentials in our economy, especially in the agricultural sector. This explains why they are trooping in to explore and exploit Nigeria’s vast untapped resources.

 

Many of us are in cities, struggling, buying and selling but are unable to meet our needs. Some of our people in rural areas want to leave for the cities because they are tired of rural lives. Fact is, where we are running from are bedrocks of money! Truth is, many of us in townships have no business being there because what we look for in Sokoto are actually in our Shokoto. Fortunes can actually smile on us if we can decide to go home and tap into the vast resources in our rural communities.

 

Take for instance, if we should go into palm oil processing using local resources (humans and materials), we will be smiling to banks with millions of Naira. Experts are of the opinion that a typical palm tree is a financial supermarket considering that almost everything on a palm tree is money. My advise, therefore is, if urban city is not favouring you, swallow your pride, go home or move to a farming friendly area, commence farming business and become wealthy.

 

Do you know that billions of Naira are literally waiting for us in farming activities (I do not mean hoe and machete farming work) such as piggery, goat herding, birds’ rearing, raising of dogs (Rottweiler’s), etcetera. These are vast income generating activities.

 

Take a tour of Ogoja, Cross Rivers state. Many people go there to buy brooms, melons, plantains, and the like, come down to the south east and to other places across Nigeria and make huge profits.

 

There are places across Nigeria where we have comparative advantages in the production of certain goods and products. You should do well to identify these areas as well as areas where there are comparative advantages. These would open your eyes to the vast business opportunities in Nigeria’s agro-allied sector. The key phrase is, “Shine your eyes!”     

 

Do you know that you can get paid for going into agriculture in Nigeria? Federal Government of Nigeria has made available billions of Nigeria for FADAMA programmes. When you venture into any area in agricultural activities, you can invite FADAMA field officers for inspection. If they are satisfied with what you have do and are doing, you will be financed to the tune of up to fifteen million Naira (N15, 000. 000. 00) to be repaid on friendly terms. Go to any FADAMA office and enquire about this.     

 

ENGAGE IN MINI IMPORT AND EXPORT BUSINESS

Visit any office of Nigerian Import and Export Promotion Council near you for enquiries. It will amaze you at the vast opportunities inherent in import and export. You will learn of the many products and standards that are available in Nigeria but are in great demands by members of the international communities; what are expected of a would-be exporter to do to start exporting with as slow as few tens of thousands of Naira. There are ready markets. The Council will help you to sell and get paid in hard currencies. You will be taught how to process these products, how to export them and how to get paid.

 

Take cognizance also that there are things you can import into Nigeria, using Nigerians who are outside the shores of Nigeria. Problems Nigerians in Diaspora have is the insincerity and dishonesty of some Nigerians at home. However, you can go into partnership with those who are willing to give you a try. What are needed is your ability to market these products, take your own profit or percentage and send back the rest to your partner in either Europe, America, Asia, etcetera.

You can cash in on the prevailing phone craze to bring in fairly used smart phones, I-phones, Ipads and other productivity tools. Some are even willing to send in fairly used automobiles, engines and spare parts.

 

You know, as a third-world (emerging economy), the first and second world societies because of their fast-paced of technological advancements, rarely use these technologies before new ones are brought in. So, they are always looking for buyers and users in third-world countries like Nigeria to dispose them. On the other hand, some of us who want to catch up with trends in other countries are so hungry to have what they had. As they are throwing out, there are people willing to catch them. Therefore, you be one of the middle persons to stand in the gap, receive them and then throw to those who are in need of these gadgets. By doing these, you make money, huge money.

 

The problem of Nigerians and outsiders have with our people remain their inabilities to remit back to the source of their supplies. For this reason, these sources do not have the hearts to continue to send things down.

 

Would you be honest enough to be trusted to be the link person? If you are and can prove that over time, then there are business opportunities for you for you in import and export business.                          

 

GENERATING CAPITAL FOR YOUR BUSINESS

Capital is the lifeblood of business but hard to come by. If we all have the financial resources we need to do business, we would not be as bothered as most of us are today. There are, however, some strategies that can be employed to generate the money we need to refinance our businesses. This is what we call OPM principle. OPM stands for Other People’s Money. It is established on the principle of using other people’s money to run your business without anybody getting offended.

 

OPM principle thrives on “Count-to-Ten Principle.” This is a simple principle that divides the amount needed into equal ten or equal twenty parts, then approaching ten or twenty persons that one feels could be of help.

 

When you source money from people, you would do well to follow my mother’s principle. Although not educated, my good mother, Mrs. Catherine Nwabuikwu Eji-Johnson Chukwurah taught me a powerful principle on how to source for fund. Here is her method: Go to anyone you feel will lend to you. Ask for the amount you need and promise to pay at a particular date. When that date approaches and you have raised the money, do not wait until that date catches up with you, go to your lender and pay him/her but if you are unable to pay, look for another person to lend to you, approach him/her for a loan and if he/she lends to you, go immediately to the first lender and pay your debts. Now, you must have told the second person who lent money to you that on so, so and so date you will pay back the amount lent to you. If that date draws closer  and you are not able to raise the amount lent to you, go back to the first person  and plead with him/her on the basis of your ability to have paid the first time and promise that you will return the money  if  lent to you as was the  case  the first time. When you are lent the money, take it immediately to the second lender and pay. Do this as time goes by and you will be able to finance your business with other people’s money while at the same time you keep those who lend to you happy and assured that you can be trusted with money without disappointment. If you feel that you have bothered the first two, then look for a third person, approach him or her as was the case with the first two. You can even ask the third person to enquire from the first two if you are reliable when lent money.  Of course, you can be sure that if he/she should go to make enquiry will receive favourable responses from those who had lent to you before.

 

By no means, do not play with those who lend money to you, either as individuals or as financial institutions. If you do, you will be digging your business grave. Be honest and pay promptly. If you cannot pay as agreed, go back to them and ask for their understanding BUT do not run away from them or “bad mouth” any of them.

 

If you are faithful in little, you will be considered faithful in much (Luke 16:10).

 

MAKE GOD YOUR GREATEST PARTNER (Job 8:5-7, 21).

All efforts without God is but efforts in futility. The race is not to the swift, neither the battle for the strong (Ecclesiastes 9:11). For by strength shall no man prevail (I Samuel 2:9b). “It is not by power nor by might, but by My Spirit,” (Zechariah 4:6) says the Lord. Jesus said, “Apart from me you can do nothing.” (John 15:5). However, Apostle Paul said, “I can do all things through Christ who strengthens me” (Philippians 4:13).

 

In view of these, there is a strong need to make God your Senior Partner in business. If God is your Senior Partner, you can be sure of having access to the greatest resource in life (Isaiah 30:20-21).

 

Work as if everything depends on you but pray as if everything depends on God.

 

CONCLUSION

I have endeavoured to share with us some ideas to revamp our businesses or find a new lease in life. Whatever happens, never lose hope. Don’t give up on yourself. Tough times never last, but tough people do! So long as God remains on the Throne of Life, you will succeed and blossom. That is His Will for you.

 

I encourage you to key into any of these ideas that apply to you, work hard and God will bless you.