snr lecturer, entrepreneurship academic director, owner ... session 3 on... · snr lecturer,...
TRANSCRIPT
Dr Henrietta Onwuegbuzie
Snr Lecturer, Entrepreneurship
Academic Director, Owner-manager Programme
The best time to
climb an elephant is
when it is
seated….so that
when it rises, you’re
already on its back
My
business is
dying
Time to
think
differently
Recession: Nigeria saved N62.8B from importation of French
fries
New opportunity
Nigeria is the 14th largest producer of tomato in
the world!
…Why do we import tomato paste/ketchup?
...This recession presents opportunities for
local entrepreneurs willing to work well
Export opportunities that create
jobs
Even Louis Vuitton would admire these
Auldon toys –Paul Orajiaka
Mission-driven entrepreneurship
Why are you in
business?
What problem can
you solve?
What need can
you meet?
The core of
entrepreneurship
is value creation
by providing
solutions to
problems and
needs of
humanity
What do these people have in common?
Objective: Survival
• Do not contribute much to the economy
• Usually suffer social and financial exclusion
Necessity-driven entrepreneurs:
Objective: Increase personal wealth
• See problems as responsibility of govt and NGOs
• Do not contribute much to the economy
Profit - driven entrepreneurs
Objective: See business as a tool to transform society
• Solve problems: Make a significant contribution to the economy
• Also create more wealth than others
Impact driven entrepreneurs
• Success and purpose driven
Types of entrepreneurs
The type of
entrepreneurs
Africa needs
Create wealth
Entrepreneurship
KFC closing in
Ilupeju, Isaac
John and Allen
closing down
Snack rack/Food truck • Giz-boli
• Boli burger
• Dundun
• Akara
• Asun
• Suya
Health benefits
of cassava bread:
Rich in Minerals-
• Calcium
phosphorus,
manganese,
iron and
potassium
• Rich in Fiber
• Gluten Free
• Rich in
Saponins
Cassava bread
No forex to import wheat?
Tiger nuts (Ofio)
Tailoring?
Stimulate sales
• Training (fee/earn-to-learn)
• Matching accessories –earrings, neck pieces, bangles
• Benefits:
• Increased capacity
• Large orders (local/export)
Bake?
Specialise/customise:
– Weight watchers
– Diabetics, cholesterol patients
– Contracts with schools –parents place orders on children’s birthdays
More made in Nigeria goods on shelves:
Fast foods:
fries – sweet
potato crisps
People are
searching for
local
alternatives
Tailoring:
School
Uniforms
Expensive
cement/falling
buildings:
mud/containers
Expensive
Kerosine:
biogas
Expensive Fast
food outlets:
mobile food
carts
Agric:
grinders/
processors
Mud house in Europe
Plastic bottle house
Container
house
…Low hanging fruits
Zobo drink (Hibiscus Sabdariffa, Sorrel)
Commonly found in Northern Nigeria
Health benefits Keeps the body’s pH
balanced Anti-aging Contains anti-
oxidants Rich in riboflavin,
vitamin C, niacin, carotene, calcium and iron
Diuretic (stops fluid retention
Calming effects Refrigerant (cooling
effect) Many children currently suffer from Attention Deficit
Hyperactive Disorder (ADHD), stimulated by unhealthy sugary drinks. Sorrel provides a healthier and more affordable
alternative
Uses: For making Wine Juices (different
flavours) Tea Spice Jelly (contains pectin
that firms jelly)
Millet Kunu Health benefits Has cancer fighting
properties
Prevents heart diseases
Reduces risk of
diabetes
Rich source of
Phosphorous and
magnesium
Recommended for
menopausal health in
women
A healthier alternative to carbonated soft drinks
Palm wine
Health benefits • Improves eyesight • Improves efficiency of
mental faculty • Contains high levels of
Thiamin and vitamin B12
• A paliative for high blood pressure, gout, malaria and other ailments
• A natural aphrodisiac • Enhances fertility • Facilitates breast milk
production in lactating mothers
Can be better packaged for export
…Instead of carbonated drinks….natural
juice
Naija Snacks
Akomolafe Kayode,
08090902808
Dankwa
Tiger-nuts
Kulikuli
Coconut balls
Value-chain of job and wealth creation
Kulikuli- made from
groundnuts
Health benefits
Contains resveratol promotes heart health and reduces risk of cancer
Rich in calcium, Iron, zinc, boron
Vitamin A,B, C and E
Niacin (antiaging), protein and Manganese
The Guardian Newspaper. Thursday 17th March 2016
Lemon grass
Health benefits Detoxification: Gets rid
of harmful toxins. Assists functioning of liver, kidneys
Antibacterial/antifungal: Clears infections in the colon, stomach and wounds
Aids digestion: Eliminates flatulence and gastroenteritis
Reduces blood pressure: Boosts blood circulation
Removes cholesterol Painkiller Anti-inflammatory
Superior to any of the Chinese teas in our markets
Herbal plants
Bitter leaf- Vernonia
Amygdalina (Ewuro, onugbu)
Medicinal benefits Stomach ache
Proper functioning of liver
and kidneys
Skin infections: Ringworm,
itching eczema
Diabetes
Arthritis
Prostate cancer
Memory loss
General weakness
Stroke
Pneumonia
Ogbono- Irvingia Gabonensis
(African Bush Mango)
Miracle natural fruit- Grown
only in West Africa
Health Benefits: Weight loss without dietary
change or activity level
• 150mg in a glass of warm
water 30mins before meals
Combats fat in a natural way
Lowers cholesterol
Regulates blood sugar
Retail price $56
www.hlifestyles.com
America’s new discovery for weight-loss locally
available in W. Africa
Moringa plant-Tree of life (Moringa Oleifera) • Ewe-Ile, Ewe igbale-Yoruba • Gawara, habiwal hausa- Fulani • Odudu oyibo, Okwe oyibo - Ibo
Health benefits: Considered the most nutrient rich
plant found on earth- contains 90 nutrients and 46 anti-oxidants (incidentally grows where malnutrition is most prevalent)
Natural antiseptic Corrects sexual dysfunctions Promotes heart health Amino acids-2,500 times > green
tea, 242 > apple Potassium-4 >carrots Fibre-4 times > oats Calcium- 14 times >milk Iron- 9 times >spinach Vitamin A- 2 times > carrots
Source: www.treesforlife.org
Other Uses: Medicinal remedies Water treatment Renewable energy-
biofuel
Commercial forms: • Sachet powder
(pharmaceutical /hospital usage)
• Edible oil • Drinks (use in apple, orange,
or pineapple drinks) • Teas
Beauty products
Highest quality Shea butter found in Nigeria Tree is native to West
Africa Benefits Evens skin tone Returns lustre to skin
and hair Rich in vitamins A, E &
F Prevents wrinkles and
sunburn Hydrates skin and hair Healing properties-
antimicrobial
ORI- Shea butter
$10 billion industry
Simple Ankara dresses
…Also for export
Economic depression: ◦ Low demand: Falling
purchasing power
◦ Inflation: High cost of production
◦ Competition leading to price wars
◦ Increased crime/fraud
Do’s Manage lean
Review operations: Involve staff
Where can we buy cheaper?
Can we aggregate purchases to get higher discounts and
lower unit costs?
What substitutes exist?
Reward cost saving ideas
What new needs can we satisfy
Do’s Revise operations:
Hire on contract especially if business is seasonal
Consider selling idle assets
Backward integration
Affordability: (monthly/quarterly rent?)
Reward good ideas: incentive for innovation
Cost effective advertising: FB, Instagram, blogs twitter
Provide attractive commissions to make full-time staff
become contract
Explore new markets (e.g. Banks-MSMEs, training)
Customer service:
Listen more to get new ideas
Create convenience
Sell solutions
Dont’s Do not be passive:
Avoid denial and communicate challenges to staff
Create awareness and consequences of inaction
Don’t over analyse:
Avoid analysis-paralysis
Avoid knee-jerk reactions:
Do not take actions that can harm your future e.g stop
training/research
Avoid panic among staff that can lead to fraudulent
actions- create awareness and hope
In an impoverished
society, a privileged
few are endangered
species
52
Train people,
empower them,
make money
Making money from it
Provide solutions
Identify a problem
Thank you
Problem
identification
Value
created
Wealth
/prosperity
Solutions/
innovation
Sustainable
development
Especially
social
problems
Ready market
assured once
the solution is
effective
Willingness
to pay
Value leads to
sustained
profit and
wealth
creation
Social
development
must grow with
economic
development to
achieve
sustainable
development
Problem No value
created
Wealth
amidst
problems
No
Solutions
Rise in
crime/No
prosperity
Problems in
the society
(e.g.
unemployment)
Focusing on
making
money
through
buying and
selling-
Problems
fester
Making
money in the
midst of
poverty
No
sustainable
development