Friday, December 3, 2010

Why Do Businesses Fail in Nigeria?

Hi All,

Permit me today to share some thoughts and to also get to ear from you on why businesses fail In Nigeria.

I have been involved in some personal business for a while now and have been privileged to see from some companies point of view but I still haven't gotten it to see why businesses fail. Sometimes I have gotten frustrated and keep thinking if people are the helms of power see it the way am seeing it.

Let me discuss a few options I have heard and would also state my view on them.

Option 1 : Lack of planning, market research and technical expertise

I really don't agree fully with the lack of planning because I have seen companies with high level plans and even most are documented but key reason here is implementation. How many plans are actually implemented. Most times, we spent countless of hours to develop beautiful plans that would never see the light of the day in terms of implementation. To me, the decision to implement a plan is key than that of developing the plan.

I agree with the point on market research and technical expertise. I wont want to jump into any sea I don't have all the key information on. Businesses should be started with a full knowledge of all technical, commercial, market and personnel know- how's.

Option 2 : Leadership

A friend stated that most companies owners find it hard to create a system that works independent of them. This is so true. I have seen managers that scrutinize all level of expenditures from buying stationeries of N200 to other expense of N500000. Our businesses need to create leadership system where work schedules are known and top management people handle other key and time based issues.

We need to empower our staffs and believe in their abilities to act as we would in different situation. Many managers today are s afraid of people working under them that they keep all information to themselves and you see such businesses tumbling down on the absence of that manager.

Also on the issue of leadership is the vice called micro-management. This really to me is a bug that eats up time and drags businesses into the mud. We need to open up, let our staff sometimes make mistakes and learn from it.

Option 3: Professionalism and Excellence

I keep saying this is on key factor missing in most Nigerian businesses. Our presentations are so shallow and most times copied directly from the internet and just edited. Attitude to clients are at the poorest peak and the saying that "customers are always right" have been changed to "customers are sometimes right". A good comparison I like making is comparing the look of an American policeman to their Nigerian counterpart. The difference speaks for itself. Same most times goes for our banking industries where you have to keep waiting endlessly while the bank staff is on some personal calls. I made up my mind not to take a seat in any bank because I have concluded that it means I have given them my assent to waste my time.

Option 4: Lack of funds

I will like to rephrase this more to mismanagement of funds. Every business should thrive on a well and meaningful plan. Business expense should be well anticipated and resources should be planned to meet this need. Our society believes you should spend first on your social ego than on your businesses. I have seen managers use 80% of profits from a deal to get themselves very good and benefiting cars. Their social class need to be elevated at the expense of their business.

Let me stop here for now. I would take time to write more on ideas and opinions I get on this. So feel free to drop your comment or send me your articulated idea on this. My contact are, 08034424156, bb pin-30f13f82

Wednesday, July 28, 2010

My name is Albert, I enjoy Life

Hey Friends,

Waoh its been a while that i have posted a note on facebook. Sorry duty calls. For today, just had some random thoughts I need to get off my mind. So flow with me.

1. My name is Khan, I am not a terrorist

Maybe you have been wondering what's up with my last two status update - My name is Albert, am not a poor boy. I visited the beautiful and very busy city of Bangalore in India in March 2010 because of the project am working on presently. After some pretty days of work, I went to the cinemas and wanted to see the latest Indian film - My name is Khan, I am not a terrorist. Eventually I did not see the film because the next show was like 3 hours time. Finally, yesterday in the comfort of my villa, I sat to watch this film and to be very candid, I was so impressed with a million lessons learnt from it. I think you should go see the movie too. You would surely enjoy it. Three major lesson from the film are
1. Never look down on anybody possibly because they have a weakness. Some maybe smarter than you.
2. When you have a vision, keep to it. The more you keep to it, the more you get close to it.
3. Have a heart of gold that is so touched to help humanity. Stop complaining about the government, do the little best to make life pleasant for people around you.

For the remaining lesson, go see the movie and also come up with your own title, Your name is ..........., and you are a ............................

2. What love can do
I have always been delighted to see people in love. It thrills me to see two people committed to make life work together for themselves. Love changes us when we accept it and boldly make full expression of it. Irrespective of our differences maybe gender based or our background, love covers that gap and make us see possibilities. Open your heart to love an see your life get transformed. I dedicate this to celebrate my two very close pal as they celebrates God's faithfulness to them and the men God gave her. Adebola, you rock, dont worry, its built to last and the music for you soul is unending. Ademayowa, soon to be wedded. God has made all things to work for you. Friends for life

Wait a minute, tomorrow marks my parents 33rd wedding anniversary and the best mum will soon be 55 years old. What a joy to be blessed with the best parents of all time. You know how we do it, you guys have to holla them for me.

3. If you have the opportunity, what would you do
I was on a flight to Abuja last week thursday and while waiting for the flight, guess who I saw? A great man and life motivator that I have always been looking up to. Ok, this is my point. We all have desires to meet great men in life and we look forward to that day that we would have to opportunity to shake their hands and talk to them. We look forward to an arranged setting but I have learnt most times to prepare for my opportunities as God bring them on my ways. Think out of the box the next time you meet a great man that you have always admired. Go say hello, introduce yourself and say some words of the impact the fellow have had on you. If you have your business card, ask if they don't mind to get it and see if you can get their personal contacts. This gives you access to them. For sure, you will have cold feet, mind calculations on the next step but from me to you, Just Do It.

4. My book launch
Its so good to know a lot of people are thinking about you and also praying for you. I posted on facebook for friends to help clear their calendar for October 2nd and hmmmmn, am amazed by all the comments. All of them were related to marriage. Some even called and wanted me to confirm the occasion. Ok friends and folk, I am having a book launch and the title of the book is "I AM GETTING MARRIED" . Did I just say that? Yes, I am getting married and will soon post full details.
For my guys, one day would always be one day. My advice, plan ahead, have a year in mind and work towards it, mine started 7 years ago and I have always told my friends about getting married in 2010. Its a significant year for me.
For the ladies, Trust God to make all things work for you. Open your heart and follow the rhythms. Be there for the man that God has given to you.

5. Friends for Life
I was reminiscing about my days in OAU Ife and the core parts that always come to mind is that of the great friends God blesses me with. I really wish I could mention names and be very specific but I would leave that for another note ( Its a promise). My advice, do all you can to be the greatest thing that could ever happen to your friends. The memory lingers and they are very sweet to the soul. Like I remember friends that we take tutorials together at the back of Pharmacy building ( Ahmed Atere and Co), Business partners in all my events management engagement ( Funmi Oraf, Ope, Tonia), Agric Engr classmates and some selected lecturers ( waoh, we rocked that department for good), Fellowship crews( Dj, Femi, Jide and a whole lot of others).
Thanks for being my friend and if you still are, am still committed - Friends for life.

@Albert Afolabi (July, 2010)

Friday, April 23, 2010

Business Innovation by Myles Munroe


I have always treasured getting to work early and using my time as I deem fit. Today, I choose to listen to messages of two great speakers - Dr Tayo Adeyemi and Myles Munroe.

NB; I would like to share the audio file with any interested person. You need to listen to this.

Myles Munroe preached on Business Innovation and Vision and I would like to share some points with you.

Defining Business
1. Every problem is a business.
2. Every business is someone's solution to a business
3. Business is not about money. Its about solving a problem. Jesus solves the problem of our world - Sin and he solved it. Jesus was God's solution to man's problem

Characters of True Business Leaders
1. True business leaders have the ability to think outside the box.
2. True business leaders learn from experience but they never live by it.
3. True business leaders possess the capacity to combine old ideas and concepts to new ideas and create new results
4. True business leaders never believe there is only one way to accomplish any task
5. True business leaders are never prisoners of tradition.
6. True business thinkers always break tradition.

Definition of Innovation
1. Innovation is the capacity to create new approaches to deal with old challenges.
2. Innovation is the perceptibility to see possibilities in the combination of old and new components
3. Innovation is the creation, development and the application of untested ways to solve old and new problems
4. Innovation is the capacity to think beyond the norm, defy the norm and believe in your ability to solve new problems

God and Innovation
1. Innovation is God's nature
2. God created everything different.
3. God loves innovation.
4. God hates sameness, He is always producing difference
5. God never repeated anything in creation. Everything God does, He creates as an original
6. God never did the same miracle twice.
7. God always solve problems in unexpected and non traditional ways.
8. God challenged men to think beyond their experience.
9. God never believed anything is impossible
10. God never dealt with man according to the norm

Final Challenge
1. Look for new ways to solve old problems
2. Find new ways to solve new problems
3. Find your uniqueness and develop products along it
4. Don't talk about the problem, solve it
5. Be creative, God is always creative
6. Business is formed when you break tradition

Friday, January 22, 2010

Meeting with Great Men - 1

Hi All,

Happy New Year.

I must confess that I have really been enthusiastic about writing my notes and truth is that the inspiration keeps coming. What I did not push myself to do is to post them for you all. I have taken my time always to read all the notes by all of my friends and I am really glad that waoh, we have so much great talents brewing up. Some are getting more poetic (Tolu Oke), while some are getting more original (Toks Hexydre), some are getting very religious , some very radical. Great thing here is that we all know whwre to turn to when it keeps flowing. I do pray that we would always have something to say or write for the whole world to benefit from. Sorry did not mention that some are getting more notes to "tiff" -(feel like mentioning a name here buy you guys can suggest, I would only confirm).

I chose to write today of an encounter I had with a great man yesterday. It was a great privilege for me to meet him in person. With him, time was not counting. I have always preached that be very careful and very choosy about people in your network. They either add to your net-worth or sap every value in you. When you have great friends, you will surely meet great people. Let me say thanks to Mayowa Owolabi and Omotola Fawunmi at this point.They are two great friends that have helped me achieve my goal of meeting two great people this month.

Yesterday, I met Mr. Richie Dayo Johnson ( He is popularly called RDJ. The best way to introduce him for now is that he is one of the judges for the recently just concluded Great Debaters. We had so many inciting chat and it was easy bonding with Him. At a point during our discourse, He said you are not going anywhere tonight. I was really impressed. We spoke about many interest and you could see the way he was listening to me. I felt like Obama at a point. It was a great time for me meeting a professional speaker who knows his onions and still has the energy in him. An hour with him was like reading 5 motivational books put together.

This morning, I got a call from RDJwishing me a great day and thanking me for the meeting. To me, that was impactful. I have spent the next 20minutes after then reading through his website. Please do take your time to check it up and have same experience with me,

For this note, I "tiffed" some of his great and very inspiring quotes for you. Enjoyyyyyyyyyy

1. "At the end of our lives, we do not regret the things at which we failed, we regret the things we wished for but never attempted”- RDJ

2. “Be careful the environment you choose, for it will shape you; be careful the friends you choose for you will become like them” - RDJ

3. “You must be willing to do today what other people will not do in order to have tomorrow what they will not have”. - RDJ

4. “Everytime you open your mouth, you let men look into your mind. Whether you like it or not, your conversation is your advertisement.” - RDJ

5. “The Art of speaking and sartorial savvy begin with you. Foster the art in your own life and then apply the art to all you encounter.” -RDJ

6. “Excellence is not a destination but a process that gives attention to detail. It is also an antidote used to stop the deadly disease called mediocrity.” - RDJ

7. "When you open your mouth, you tell the world who you are" - RDJ

8. "The moment you open your mouth, you enter into the world of show business" -RDJ

9. "Knowledge inspires confidence. Knowledge plus confidence will win any audience" - RDJ

10. “You must be willing to do today what other people will not do in order to have tomorrow what they will not have”. -RDJ

11. "An effective plan implemented today is more profitable than a perfect one delayed till next year"- RDJ

See you all next week.

Your Friend and Brother,