It’s that time of the year again where we all take a seat and reflect on how the year had been. We make some tweaks here and there, note the failures, make vigorous promise to fix the problems and generally make plans for the upcoming year. Yes, it is that time of year again, and it is time to make the lists – the things we need to make 2014 great.
So, instead of poring over 2014 and its possible “best of” and “worst of” as many of us are wont to, these set of people believe that it is far more productive to think in 10-year cycles. Like Google when it was founded in 1998, and Facebook in 2004. Does anyone see what the pattern is?
Speculating over next year is not going to get anyone anywhere, therefore, it is suggested that aspiring entrepreneurs looked around them and figured out how to use the existing resources around them to their advantage. Below are several resources to take advantage of, and become the business owner you’ve always wanted to be.
Internet
Jason Njoku’s name may not spark any hint of recognition, but one would bet that iROKOTV does. Njoku is generally known as Africa’s start-up icon. He used the internet to achieve his aim of being an entrepreneur. After a series of business failures, he told Entrepreneurship+ in an interview earlier this year that he stumbled upon an idea and that is using the internet to his advantage, after realizing that no one had capitalized online on the enormous popularity of Nollywood films. What did he do? He teamed up with a friend from the University of Manchester, Bastian Gotter, to found iROKO Partners, which licensed and streamed movies on a YouTube channel for Africans at home and abroad. After a while, the company launched its own dedicated streaming platform, iROKOtv, earning revenues through a subscription service called iROKOtv Plus, which provides subscribers with access to new Nollywood films for only $5 per month, as well as advertising revenue, in-flight and other licensing, and DVD sales.
Speculating over next year is not going to get anyone anywhere, therefore, it is suggested that aspiring entrepreneurs looked around them and figured out how to use the existing resources around them to their advantage. Below are several resources to take advantage of, and become the business owner you’ve always wanted to be.
Internet
Jason Njoku’s name may not spark any hint of recognition, but one would bet that iROKOTV does. Njoku is generally known as Africa’s start-up icon. He used the internet to achieve his aim of being an entrepreneur. After a series of business failures, he told Entrepreneurship+ in an interview earlier this year that he stumbled upon an idea and that is using the internet to his advantage, after realizing that no one had capitalized online on the enormous popularity of Nollywood films. What did he do? He teamed up with a friend from the University of Manchester, Bastian Gotter, to found iROKO Partners, which licensed and streamed movies on a YouTube channel for Africans at home and abroad. After a while, the company launched its own dedicated streaming platform, iROKOtv, earning revenues through a subscription service called iROKOtv Plus, which provides subscribers with access to new Nollywood films for only $5 per month, as well as advertising revenue, in-flight and other licensing, and DVD sales.
After coming up with compelling business models, the company secured $10 million in investments - $8 million from the U.S. hedge fund Tiger Global and another $2 million from the Swedish hedge fund Kinnevik.
And there are many more Njokus out there – people who are using the internet to conquer the world. If anyone were to take a look around, one would realise that there probably isn’t a single thing in life that won’t ultimately be connected and smart. That is the world we live in now. The world of smartphones, social media, of everything internet. There is an app for everything – business and even for sex! So basically, as one entrepreneur said, “youths today couldn’t have had it any easier.”
Robotics
Barry Schuler, Managing Director for DFJ Growth and the former Chairman/CEO of America Online Inc, credited as being one of the pioneers of the modern Internet, said of robotics that “with the Google driverless car, driving is destined to become a leisure-time activity. The robotic revolution has now begun and opportunities abound.” Some cynics may sneer that that could only be far-fetched in this part of the world, if not downright impossible. But think about it.
Robotics
Barry Schuler, Managing Director for DFJ Growth and the former Chairman/CEO of America Online Inc, credited as being one of the pioneers of the modern Internet, said of robotics that “with the Google driverless car, driving is destined to become a leisure-time activity. The robotic revolution has now begun and opportunities abound.” Some cynics may sneer that that could only be far-fetched in this part of the world, if not downright impossible. But think about it.
Last month, four students from Troika School, Lekki, Zamani College, Kaduna, Alofos Foundation, Surulere and Ilado Community Junior High School, Ikoyi represented Nigeria at the world Olympia holding in Jakarta, Indonesia.
The Managing Director, Arc Light Nigeria Limited, Mr Tayo Obasanya, at the end of the national robotic competition which took place at Oriental Hotel, Lekki, Lagos, in October, said of Nigeria’s participation at the event as: “before now, in the classroom, it has been theories but now, they can apply it practically. It is not all about passing exams, but imparting life skills that are necessary for the development of solutions for today’s challenges.”
While Dr Ndubuisi Ekekwe, a robotics engineer based in the United States of America and currently the President of African Institute of Technology, which is in the forefront of advancing microelectronics and robotics technology in Africa, may have said that Nigeria has “not moved to the level where we can actually deploy these technologies because there are some fundamental things that must happen,” Mr Sunday Folayan, Managing Director, General Data Engineering Services (GDES) also believes that there is “an abundant business opportunity in robotics in Nigeria right now.”
His belief is that, when a foundation is laid now, in the next 10 years, those who have the patience to wait, will be known as cutting edge innovators in the country.
Haulage Services
Oluwasope Hamed has a haulage company in Lagos State. Although this kind of business has not been much known or embraced in this part of the world, but as Hamed says, currently, she charges between N20, 000 and N200, 000 per trip. She is banking on the rail transport system reformation going on in the country to be able to push her haulage business into other parts of the country and other nations, as well. “By 2024, we would have covered enough grounds to earn us the recognition as the leading haulage contractor company in Nigeria,” she said.
These, and more, are why you as entrepreneurs need to look into the future. While we agree that these tips are few, we also understand that individual aspiring entrepreneur has one business idea or the other he or she would like to pursue. We can only hope that they would look beyond the present and reach for the stars.
His belief is that, when a foundation is laid now, in the next 10 years, those who have the patience to wait, will be known as cutting edge innovators in the country.
Haulage Services
Oluwasope Hamed has a haulage company in Lagos State. Although this kind of business has not been much known or embraced in this part of the world, but as Hamed says, currently, she charges between N20, 000 and N200, 000 per trip. She is banking on the rail transport system reformation going on in the country to be able to push her haulage business into other parts of the country and other nations, as well. “By 2024, we would have covered enough grounds to earn us the recognition as the leading haulage contractor company in Nigeria,” she said.
These, and more, are why you as entrepreneurs need to look into the future. While we agree that these tips are few, we also understand that individual aspiring entrepreneur has one business idea or the other he or she would like to pursue. We can only hope that they would look beyond the present and reach for the stars.
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