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5 most wanted breakthrough for Nigeria's Entrepreneurs


Great and developed countries are known for industrialization. Every country has their industrial plan which dictates their  business model. China for instance is market driven, United State is tech driven(internet high technology) Germany and Japan are also high tech driven(industry based). Nigeria needs a breakthrough- a countrywide model for industrialization.

Countywide industrial model started in the United states with silicon valley. In China with reverse engineering or prototyping. It can start in Nigeria with Agriculture, Manufacturing etcetera. Nigeria Entrepreneurs needs urgent breakthrough.


Currently, Nigeria companies are market driven. However, market driven companies are less innovative compared to tech driven companies. This is characterized by main focus on customer or client account instead of value creation. This is the reason for huge promo by telecom and other leading Nigeria companies instead of focusing on creating consumer centric products and improved customer experience as well as spending more on research and development. Nigeria Entrepreneurs can concentrate on:

Creativity
To be creative, an individual or team must come up with new ideas(Carl Stanford). It could be a new way of solving problems or a specific form of expression. Creativity is the theoretical aspect of innovation. Nigeria entrepreneurs needs to spend more on Research and Development(R & D). This could lead to uncovering consumer insights. They could also come up with product that could create demand.


Advancement in technology
Nigeria Entrepreneurs needs technological breakthrough in both internet and industry. China has perfected their own strategy due to high level of technology. They have their own Twitter(Weibo), search engine(Baidu) and youtube(youku). Even India is achieving much in business process management with technology.

 
Innovation
To be innovative, an individual must work on the idea(Carl Stanford). It is about changing a long standing process by improving on it. Innovation is more of mastering creativity- Taking newly created ideas and developing them into something useful and practical. Nigeria Entrepreneurs needs to really believe in their own abilities and take some risk in taken initiatives instead of waiting for another country to launch a particular product. Innovation start from the organization's culture. Companies should have an innovation units where employees are encourage to try new things.


Value creation
The millennium customers expects more from less; they are smart. They expect brands to keep their promise. My experience as a customer service  expert really helped me in understanding customers expectation. Customer expects to get good value value from a particular product. Nigeria Entrepreneurs needs to focus on value creation. Instead of focusing solely on revenue, it is advisable they also focused on quality. Nigeria Entrepreneurs must start business for the good reasons:problem solving and value creation. This is the only way to build century businesses.


Local Market Acceptance
Nigeria consumers ought to change their view about Nigeria products. This could also lead to a big breakthrough for Nigeria Entrepreneurs. An average Nigerian believes that goods produced in Nigeria is fake or less original. Nigeria Entrepreneurs should champion domestic patronage of Nigeria products. This requires them to improve on the quality of products.



This post first appeared on NairaLeaks, please read the originial post: here

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5 most wanted breakthrough for Nigeria's Entrepreneurs

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