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.
Three things, as I explained here, and in a Harvard Business Review piece:
- 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.
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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!
Beyond Technology In African Startups, “Latent Factors” For Success
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Hahahahahaha. “Logo’d Chewing Stick”????
Great work sir. You keep inspiring and mentoring me through your media platforms. God bless you sir.
Yes indeed – it is all branding. Thanks for the kind comments
Good morning sir, please how do I break into the market and I have tonnes of oganic chewing stick for export,
As a kid I was brought up in the village with organic chewing stick and charcoal as the only thing we used to brush our teeth. When I passed common entrance to secondary school, the government school I gained admission to gave my parents the school prospectus which includes things I need to buy to facilitate my stay in the school as a boarder. Unfortunately, local chewing stick or inorganic tooth brush and paste was included in the school prospectus and my parents bought Mclean for me. That was how I lost touch with local tooth brush and was forced into using inorganic tooth brush and paste without an option for me to chose. Most times in Africa, our transition to using everything ‘oyibo’ is knowingly or unknowingly due to our penchant for ignorance in maximizing and optimizing our indigenous gifts from God as Africans.