To be a successful businessperson, you do not need to be as mathematical as Chike Obi or grammatical as Wole Soyinka. All you need is awareness and observation on market frictions, finding solutions to them, and rapping up in a matching story. If you can get those three in sync, you will experience glory.
- In the age of slow dot matrix printing, HP named its printer LaserJet. It became a category-king.
- When AMD was challenging Intel on microprocessors because all processors were hidden inside computer casings, Intel unveiled Intel Inside, stimulating the interests of the public to specifically ask for computers powered by Intel. Intel took over to the cleaners.
- Microsoft is legendary for Windows. But the biggest innovation was not the necessarily the technology but the pricing model.
Simply, besides technology, there are many other things (“latent forces”) which are required in other to win in markets.
So, today, we have the largest retail chain in the world, Walmart, selling what most have discarded in villages across Africa, as a premium product in America. Yes, chewing stick is organic with no chemicals, and a box goes for $15 in America. I can tell you that organic products in U.S. are typically expensive. Next time, ask that auntie to send you organic toothbrush from U.S.: you will get your logo’d chewing stick!
1. Advance your career with Tekedia Mini-MBA (Sept 13 – Dec 6, 2021): 140 global faculty, online, self-paced, $140 (or N50,000 naira). Click and register here.
2. Click to join Tekedia Capital Syndicate and own a piece of Africa’s finest startups with a minimum of $10,000 investment.3. Register and join me every Saturday at Business Growth Playbooks w/ Ndubuisi Ekekwe (Sept 4 – Oct 23, 2021), Zoom, 4.30pm WAT; costs N20,000 or $60.