Can Nigerian Brands Transition or Equal Building Institutions?

While I was still reviewing this write-up I read a post from #Alexander #Nwuba, and a week or so after, another from #Philip Miebaka Somiari, and in between I got connected to #Destiny #O. #Oriakhi all on LinkedIn. It gives me so much pleasure to be connected with people of like minds supporting efforts towards building sustainable businesses in Nigeria and Africa. I know that there are hundreds of you out there, please honour us with your views and experiences.  

This is a probing article, and I invite your comments in which ever sphere of the economy that you operate – professional, adviser, employer, employee, business owner, civil service, or simply playing at corporate board rooms.

The Informal Sector

I can trust my instinct, I am right sometimes, other times I am not. One of such times when my instinct didn’t fail, was years back, when I observed the business of my tailor #Obinna #Isaiah, who had been making office clothes for me at the time for roughly seven years. People would ask me if I bought it from the popular Lagos State Balogun Market or simply ask ‘which boutique?’  A common question at exhibitions for clothes he made was ‘Are they Turkey Suits?’. He is simply that creative with great finishing skill, alas limited resources and machinery… 

My tailor’s business did not only get me to reflect on his business but the businesses and life experiences of many of our very creative and hardworking artisans. How they set out with ‘Tailoring’, ‘Welding’ ‘Shoe Making’ ‘Hair Styling’; most times having metamorphosed as apprentice to become their own bosses, recruiting apprentices (who go through the same motions), marry in the business, have kids carrying out these businesses, send their kids to school carrying out the same businesses, and when their bodies tire out, retire from these businesses. Such circle could span 20 – 40 years, and most times, spent in a single shop. You would usually notice that ‘Baba’ or ‘Mama’ who has spent years in a location in a neighbourhood, is well known by everyone for their expertise in that trade for so many years, but eventually closed shop.  The retirement of these first generation self-employed artisans usually meant the end of these enterprises.

The Quest

In subsequent years, my curiously led me to a lot of digging dip, as I believed and still believe there should be a better way for our artisans. One thing as you would guess, led to another – more quest, research and projects. One of such projects was a Conference we tagged “Lagos Island Business Exchange”. We brought the ‘informal’ and ‘formal’ sectors together in this very successful conference to address business sustainability for the informal sector.    In making arrangements to hold the conference, I naturally carried out more research on ‘the #informal #sector, #trans-generational #businesses. Here again, my instinct paid off, because as word propped up or an idea flashed, I would immediately reach out to the ever dependable #Google. Google never did prove me wrong, as it would confirm that I was thinking right and in line with other problem solvers; some have nevertheless, gone ahead to put together great scholarly articles, research and statistics. And therefore, attests to the fact that ‘#informal #sector’ ‘#trans-generational #business are issues of discourse in societies world over. #Kanayo #Chuks #Okoye #Vincent #Iweze #Oluseye#Amusa, #Aina, Blankson, #LP, #Folashade Adeloye

I found myself thinking – #business #process #development, #structure, #systems,# build# institution, #build business that could transcend one generation. Again, Google was of immerse value. My excitement can be better imagined as I said to myself, I could turn these to tools to help our #small businesses, our #dreamers, our #innovators, #CEOs. I can help them build businesses that will function whether or not, as business owners, they are physically on ground. Moreso, I could escalate to helping business owners establish businesses that are thriving even upon retirement and businesses that would live on after them.  

Action

Then I set out on this journey of helping small businesses to start with the foundational aspect of creating processes, procedures, systems and structures for their businesses. My experience (pleasant and unpleasant) has been fascinating.  I have found out challenges, roadblocks, and inhibitions at truly building sustainable businesses which our dreamers, innovators, and CEOs face daily. This exciting journey has been thrust with some successes, failures, and more questions. 

This has led to my question: Can the brands of 2000s and especially 2018 and beyond equal or transition to become institutions? Have we gone past the age of building corporate institutions? Is every small businesses meant to perpetually remain small, run informally until the owner gets tired and closes shop? I hear experts say, every small business does not have to grow big, but is that tantamount to perennial extinction when the founder retires which is usually the case?

We all relish the entrepreneurial experiences of #Sir #Richard #Branson. But how many of our Nigerian or African businesses have been successfully sold by an owner, or are presently in a state where they could be sold to raise more capital for another thriving venture, or brand continuity?

Can our businesses transition from ‘lifestyle businesses’ as was well captured by #Stephen #C. #Harper in his book ‘Extraordinary Entrepreneurship’ to building institutions irrespective of the size of the business? My interpretation of ‘ style businesses’ being graduate from university, start business, get married, pay rent, buy car, pay bills, have kids, send kids to schools, travel for holidays, eat in the restaurant of choice, wear designer clothes, build houses, when kids grow, and can handle most of the bills, retire and close shop. 

A couple of incidence got me to ponder more on this:

- In Nigeria in the last 10 years or more, there have been so much frenzied talks, programs and push on entrepreneurship, government support for small and medium enterprises (SMEs), youth entrepreneurship and recently, #proudly Nigeria, #Buy #Made #in #Nigeria and more.

- The technological boom, combined with increased population of educated youths who schooled either in Nigeria or abroad, gave room for entrepreneurs, innovators with great ideas and products sprouting up consistently in our commercial cities. Most of these innovators and entrepreneurs have received international recognition and acclaim and we are greatly proud of them. 

- At The Platform Nigeria, a programme organised by #Covenant #Christian #Centre, which held on May 1, 2018, His Excellency,the Vice President of the Federal Republic of Nigeria, #Professor #Yemi #Osibajo, #GCFR proudly chronicled some of our innovative entrepreneurs who are excelling in agriculture, tech, food processing and more. 

-So I ask:

– Fast track 50 years, where will these our innovators, dreamers, entrepreneurs and their businesses be?

-What do they need to do to build their brands (thanks to social media waves) into enduring institutions?

-What do they need to do to move towards building companies that they can happily retire to?

- What do they need to put in place now to stay strong and thriving many decades after?

What do they need to do to ensure these innovations run successfully in their time, after they retire and 100 years after they are gone?

Any lessons from #Coca #Cola, #P& G, #Mary Kay #Shell #PZ Cussons #Philips #Chevron #Mercedes #Ford #Procter & Gamble (#P&G) #Macmillian #First Bank of Nigeria #Unilever #Nestle #Colgate #Palmolive #Pepsi?

What can the government do (beyond its quest for internal revenue), to ensure that Nigerian businesses whether in product or service delivery transit from this generation to another generation?

With over 500 businesses (at different scales) across each of our cities; can we get ten (10) of these to grow into viable and sustainable businesses? #Built #to #Last:

#Cakes and confectioneries, #restaurants, #fast #food #logistics #bakeries. #social #media #digital marketing, #advertising #public relations #branding #consulting #law #accounting #professional #firms #food# #processing, #private #schools, #private #hospitals, #fashion #salons #beauty #centres, #event #planners, #photography #investment #private #schools #private #hospitals# #Agric #building #construction #real #estate #oil #& #gas #Banks #IT #architectural #Engineering

Please share your ideas and recommendations in the comments sections below. Kindly also share this article, but more importantly, take action in whichever way you can, and in what capacity you are able to ensure Nigerian build sustainable businesses.

About this Author:

Afoma Uchendu has years of work experience as a Project Administrator, Human Resources Management generalist and in Business Process Development and Implementation. She has contributed to the success and growth of several private organisations. Presently, Afoma provides start-ups and existing businesses with Operational Process Development and Implementation services to help them operate their business more efficiently and effectively.  Her interest is to help small and medium enterprises and individuals achieve their goals and dreams.

Afoma is open to opportunities for collaboration and partnership. Contact: LinkedIn: Afoma Uchendu; Blog :https://infohub500.wordpress.com