I usually encourage business owners and leaders to take growth and expansion seriously. In fact, we run a growth consulting firm (Thrive Consults). But before you set in motion the necessary apparatus that will engender growth and expansion, you must check whether you have the capacity to sustain it. The business world is replete with…
Some business owners put the cart before the horse. They hire people before deciding their roles. Smart business owners ascertain their business process and create systems before employing people. Systems determine how your business flows and how it is operated on daily basis. Lack of clearly defined system will make people do what come to…
If you switch the positions of the CEO of MTN and that of the security man at the gate, their capacity will show within few weeks. The CEO will transform the security post, the security man may run down MTN. Why? The depth of your capacity will always determine the height of your organization (or…
It was reported that Huawei spent about $22 billion on research and development (R&D) in 2020. Apple Inc. spent $18.75 billion on R&D in 2020. Equivalent to 7% of its net sales. The South Korean Conglomerate Samsung is the largest non-U.S. spender on R&D. Samsung spent ₩21,229.2 billion (equivalent $18.75 billion) in 2020, which constituted 9% of…
What should a company do when a competitor penetrates it’s stronghold, slash price and start taking away their customers? Sit and watch or just lament about it? Not at all. There’s something they should do. It is called cross-parry strategy. The truth is that you cannot avoid competition. When other firms discover that you are…
There was a time Unilever’s Omo dominated the Nigerian detergent market effortlessly. It was so popular that their brand name replaced detergent. At that time, when you want buy detergent, the first brand you would remember was omo. Today, competition is choking life out of omo. There was a time, not so long ago, that…
Effective branding elevates a product or organization from being just one commodity amongst many identical commodities, to become something with a unique character and promise. Any company or individual that wants to build a world class product or service must understand that power of branding. Branding can turn a generic product into a powerful brand…
I think the habit of seeing every problem as satanic attack is hampering the development of Africa. Whoever taught us that failure is evil did not mean well for us. Failure is the breakfast of champions. The more you fail, the faster you run. When we are face-to-face with challenges in our clime we don’t think…
You may not have noticed it, but beautiful ambience help customers to relax, make choices and purchase from store owners. Just take a look at your office or store, how good is it? Would you want to shop in an environment like yours? Luxury brands spend millions of dollars in store design because they know that…
Many years ago, I watched an entrepreneurship program on the television. A young man met investors whose job in the program was to invest in unique business ideas or plans. The young man walked in with his various inventions and started bragging about the number of awards he won because of his inventions. He kept…