MONEY SPINNING BUSINESS IDEAS.

  Lets talk Nigerian Money

By Damilola Bamiro

¡  The Nigerian Rules

•        There are no Rules

•        There are no structures

•        We have freedom to choose

•        There are consequences

Warning: Contents of this lecture is not to be consumed wholeheartedly. Not all examples will apply to everyone and not everyone will understand the content the same way. The rule is simple. There is no singular approach.

¡  Numbers

•        The TRUTH in Numbers

•        Random Orders

•        Historical

•        Research

•        Knowledge

•        Statistics

–    The eTC Example.

¡  The Perception of Money

¡  Exercise: 1 Billion, 1 Million

¡  eMoney versus Cash: Numbers in Money.

¡  Emergence of a new world

¡  Accepting your position

¡  God and Caesar (Jonathan?).

¡  What's the importance of Worldly riches?

¡  Nigeria

Do we really understand Nigeria?
Points to Consider before moving forward:
•Nigeria may not change YET. What will change before then are our personal situations and circumstances.
•Sphere of Influence
•A Call to Morality
•Working Hard and Working Smart
•The makeup of Nigeria: Domination, Knowledge and Business
•What’s the future of Nigeria?
•What are our buying patterns?
•Materialism in Nigeria
•What are our values?
•NEEDS versus WANT
•The element of Nigerian Risk
•The element of Long Suffering in Nigeria:

¡  My Rules for Nigerian Businesses

•        Entrepreneurs and Pioneers

•        Market Based Products

•        Product Based Markets

•        The Degrees of Separation

•        Riches by Association

•        The new world of Representation

•        The Numbers! (Research, Knowledge and Opportunities)

¡  Types of Businesses

•        Necessity

–    Food

–    Clothing

–    Shelter

–    Transportation

–    Communication

–    Death e.g. Caskets etc.

–    Life e.g. Hospitals, Events Management

–    Fashion e.g. Aso Oke

¡  Types of Businesses

•        Luxury

–    Car Wash Liquid example

–    Electronics e.g. The iPad.

–    Beautification e.g. flowers etc.

–    … and many more around us!

Items that usually don’t add to social status.

–    Please note: It doesn't’t mean they are not making money!

¡  Interesting Stats in Nigeria

¡  Nigerian Breweries – Sept 2011. N160B.

¡  Ticketing and travel: N240B yearly

¡  Nigerians outspend US in UK Shopping yearly: China, Russia, Middle East. Nigeria number 4. US is 6^th.

¡  Blackberry

¡  US Visa Lottery

¡  LG

¡  Local Exercise:

Lets find a business right now

•              Choose a statistic/Industry

•              What is the base?

•              Who is there right now?

•              Who is at the top of the chain?

•              What is the market share?

•              Positioning

Interesting areas: Idumagbo, Computer Village
Calculators Required

¡  Foreign Exercise

•              Choose a statistic/Industry

•              What is the base?

•              What is technological and sociological transfer? Fashion, food, tech, design etc.

•              How long will it take to reach here?

•              How does representation come in?

•              Who will benefit?

•              Positioning for the eventuality

¡  Advice to all

•              Money is EVERYWHERE AROUND YOU

•              Know your position in the chain

•              Lay in wait: Multiple Streams of Income

•              Gaining and Dissipating KNOWLEDGE

•              Its true the rich get richer

•              God needs a FOUNDATION to build on

•              God needs your knowledge so riches wont go to WASTE

¡  Thank You. I wish you all the best in your Ventures!

PS.

I really love the rendition of ‘Occupy till i come...’ in some other versions. One says ‘do business till i come...’ so i charge to do same. God’s best!