General Management - A Case Study

General Management Program; Nigeria - A Case Study

Case Study:

Africa is growing; Seven of the ten fastest growing economies in the world are in Africa, and the continent's largest economies are becoming less dependent on extractive commodities. The continent's rising middle class has demonstrated a taste for consumer goods and technological innovation and Africa's population - currently more than a billion people- is booming
and overwhelmingly young at a time when population in other regions are shrinking and ageing.

Nigeria, sub-Saharan Africa's largest economy epitomizes both the promise and the problems the continent faces in the 21st century. The country had failed to thrive for its first thirty years as an independent nation, despite having a developmental head start relative to countries
like China and India, as well as hundreds of billions of dollars in oil revenue.

Macroeconomic management and diversification

Nigeria’s growth was more volatile and tied to oil price swings; chronic exchange-rate and inflation issues and limited diversification made the economy vulnerable.

China/India achieved more stable, export-driven growth and better mobilization of domestic savings into investment.

Why India and China succeeded 

China: centralized political control with high implementation capacity, consistent industrial policy, huge infrastructure and urbanization push, export orientation and massive FDI-led manufacturing.

India: democratic stability, a strong civil service and legal system, English-language advantage, tech and services expansion after liberalization (1991) and significant private-sector dynamism.

What Nigeria could do 

Reduce dependence on oil: diversify into agriculture, manufacturing and services with targeted industrial policy and export promotion.

Strengthen institutions: improve rule of law, judicial efficiency, anti-corruption measures, and public financial management.

Build human capital: prioritize basic education, vocational training and primary healthcare.

Fix infrastructure bottlenecks: reliable power, good transport and ports, digital connectivity.

Improve security and reconcile regions: better conflict resolution, reduce militancy drivers (poverty, grievance).

Reform taxation and governance: build a broad-based tax system to deepen accountability and reduce rent-seeking.

Make business environment reforms to attract long-term FDI and enable SMEs to scale.

Caveats

Comparisons are simplifications: China and India are very different from each other too, and each faced unique challenges and advantages. Progress takes time and requires political will and sustained institutional reform. Nigeria’s large population and market also present huge opportunities if those constraints are addressed.

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Female Startups

In the absence of clear goals, we become strangely loyal to performing daily trivia until we become enslaved by it.......... Robert Heinlein

One of the most important thing a female entrepreneur can bring to the table is Trust.
Building trust with customers can be challenging but you can overcome that challenge by
Co-creating your products and services,
Associating with prominent figures and
Embracing transparency

Here are Some Interesting Female Startups:

1. Accompany uses AI to be your virtual chief of staff, providing you with all of the information you need before meeting just about anyone.

2. Brandless was just named by Fast Company as one of the world’s 50 Most Innovative Companies. Brandless co-founder Tina Sharkey has created one of the strongest direct to consumer brands around.

3. Verge Genomics uses machine learning and human genomic data to defeat neurodegeneration. This is one exciting genomics startups.

4. Mighty Networks co-founder Gina Bianchini is taking on Facebook once again, having previously co-founded social platform Ning together with Marc Andreessen (which grew to 90 million users).

5. Hipcamp is a marketplace that connects campers and land. If you're an outdoors person you'll love it. Dave Morin says: "This is an amazing idea and so well designed. In love."

6. Lumi co-founder Jesse Genet turned down a Shark Tank deal two years back. Today, the packaging company serves customers from all 50 states and 20 countries worldwide. Lumi recently announced a $9M Series A round of funding, and the company is profitable. 👏

7. Shippo helps businesses succeed through shipping, and powers eBay's Guaranteed Delivery Program (among other marketplaces and platforms). Shippo recently raised a $20M Series B funding round.

8. Guild Education is an education benefits platform that allows employers to offer tuition reimbursement and college degree programs to their employees. Lifelong leaning is one of the most important skills to in internalize.

9. May Mobility is an autonomous vehicle startup that deploys fleets of driverless vehicles for enterprise and municipal customers. For more, check out our list  of the Top Self Driving Car Startups. 

10. Werk is the premier destination for flexibility as the future of work. The company sources highly flexible jobs from top companies.

11. Collective Retreats offers luxury retreats to the kind of destinations that will blow your mind. It's a new, more meaningful way to travel.

12. Modern Fertility introduced easy test that gives you powerful information about your fertility. The same fertility test offered in top fertility clinics, online, and for a fraction of the cost.


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Intrinsic Motivation

Why are some people unimaginative in one context and so creative in another?
Intrinsic Motivation is a major component of what makes people creative, if there is a true commitment to a shared mission, the ideas will come.

Intrinsic motivation is often associated with higher levels of creativity, persistence, and overall satisfaction with one's activities. It contrasts with extrinsic motivation, where individuals are motivated by external factors such as rewards, praise, or avoiding punishment.

Cultivating intrinsic motivation can be beneficial in various aspects of life, including work, hobbies, and personal development, as it fosters a genuine passion and commitment to what you're doing.

Established firms will be disrupted by startups if they fail to innovate. The biggest misconception about innovation is that it’s about ideas. It’s not. It’s about solving problems. So, the first step to building an innovative team is to hire people interested in the problems you need to solve.

Three Ways to Improve Intrinsic Motivation:

1. Create Diversity.
   The challenge for managers is to create an environment that is both diverse and psychologically safe. Great innovative teams learn to constructively work through these tensions. You should be creating an environment where people expect to have their
   perspectives challenged by someone who looks, talks, and thinks differently.
    
2. Value Teamwork.
   Creative people are friendly, gracious, with genuine interest and desire to help others. The best innovators are knowledge brokers, who embed themselves into networks. This character is so consistent that we can conclude that when it comes to innovation, generosity can be a competitive advantage.
3. 
   
4. Promote Psychological Safety.
   The opportunity of each team member to give voice to their ideas without fear of reprisal or rebuke. Perhaps; That one elusive piece of insight can crack that tough problem

The truth is you don’t need the best people — you need the best teams.

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Start the Debate

“Often pleasant, seldom pleasing — but certainly not disruptive are dicisions made without debate”.......Emmanuel Sodipo

Research has shown that how one defines and identifies with entrepreneurial role, affects ones
ability to amass key resources. While investors allocate significantly more money to disrupters, that capital is deployed less efficiently because disrupters’ flashy ideas may energize and inspire others, it might not be enough to keep them.

Operating models must define ways of working and behaviors that bring your cooperate strategy to life

Consider these three cooperate models:

• Your company’s promise to its customer is lowest costs, is everyone focused on cost control?
• Your reputation is built on superb service, is everyone highly attuned to how they affect the customer experience?
• Your brand is on high-performance, what behaviors are nonnegotiable and how you’re enabling them?

Now consider these three personal profile:

• I am a passionate innovator who loves helping fast-growing companies excel. I create the
  greatest value when leading or advising an organization where there is a need to
  disrupt existing solutions to achieve growth and value.
• I am a builder of things. My purpose is to build systems and tools that allow for things to be done with greater
  intelligence, with less friction. I surround myself with like-minded people who see the possibilities and find a
  way to make them a reality.
• I am diligent, loyal and a believer, I have faith in God and all things work together for good, the wealth of
  the wicked shall be transferred to the rightous

What personal profile best match the listed cooperate model?

Start the Debate

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Seasons Greetings

Have a Fun Holiday

Holiday sales typically refer to special promotions and discounts offered by retailers during specific holidays, such as Christmas, Thanksgiving, Black Friday, Cyber Monday, and others. These sales events are popular among consumers who take advantage of the discounts to purchase gifts, decorations, and other items for themselves or their loved ones. Retailers often plan ahead for these events, strategizing their marketing campaigns, stocking up inventory, and offering attractive deals to attract customers and boost sales during these periods.

The holiday season can present both opportunities and challenges for businesses, depending on the nature of the business and how it positions itself during this time. 

Here are some key considerations for businesses during the holiday season.

Opportunities:

Increased Sales- Many businesses, especially retailers, experience a 

significant boost in sales during the holiday season. People are shopping 

for gifts, decorations, and holiday-related items.

Online Shopping- The growth of e-commerce has made it easier for businesses 

to reach a wider audience during the holidays. Online sales often spike as

 people shop from the comfort of their homes.

Seasonal Products and Promotions- Offering holiday-themed products, special 

promotions, and discounts can attract customers looking for unique gifts 

or deals.

Gift Cards and Gift Certificates- Selling gift cards or certificates can 

be a lucrative option, as they are popular last-minute gift choices.

Holiday Events and Marketing- Hosting special events, sales, and marketing 

campaigns with a holiday theme can generate excitement and drive foot traffic.

Partnerships and Collaborations- Collaborating with complementary businesses 

for cross-promotions can help reach new customers.

Stay Blessed and See You Soon

Cluster of Idea Space

The education of the incremental innovator leads to mastery of the already available paths of scientific knowledge and methods.......William Baumol

With concepts like Big Data, Block Chain and IOT, most businesses are now confronted with the leap from “dumb" products into creating smart, connected products.

"Idea space" generally refers to a conceptual or virtual environment where ideas are generated, explored, and developed. It's a mental or collaborative space where individuals or teams can brainstorm, innovate, and problem-solve without constraints or limitations.

Breakthrough inventiveness requires unorthodox approach to education that favors the exercise of the imagination. A world of education spanning geographical barriers resulting in exchange of ideas between students, professors and entrepreneurs.

A mix of in-company training and formal training within a climate of interactive spaces for knowledge creation, dissemination and innovation.

Innovation Labs- Within companies or organizations, an idea space could refer to physical or digital environments specifically designed to foster innovation and creativity. These spaces often feature tools, resources, and processes that support ideation and experimentation.

Brainstorming Sessions- During brainstorming sessions or workshops, participants enter an idea space where they suspend judgment, encourage wild ideas, and collaborate openly to generate new concepts or solutions.

Virtual Collaboration- With the rise of remote work and digital collaboration tools, idea space can also refer to online platforms or virtual environments where teams come together to share ideas, collaborate on projects, and co-create solutions regardless of physical location.

These interactions morphed into clusters:
Businesses have clustered into networks throughout history, but today we refer to business clusters like the technology industry in Silicon Valley, the financial sector in London and automakers in southern Germany.

Business clustering is an organic process involving a self-organized, self-sustaining, and self-reinforcing formation of interconnected businesses.

Vibrant cities rely on clusters that can adapt; and cluster adaptability in turn hinges on an “idea space.”
 
An idea space for a handful of skilled individuals, local entrepreneurs recycled with academic excellence.

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Growth in a Digital Landmine

Error moves with quick feet and truth must never be lagging behind........ Anonymous

Digital transformation is not just about technology. The approach a company adopts to communicates with its employees, organizes them, and reskills them will play a fundamental role in its ability to take advantage of the new consumer landscape.

Plug-and-play e-commerce technology, search engine optimization, big data, block chain and other distribution solutions are making it far easier for products to directly reach consumers.

Some compaanies like:
Coca-Cola recently reshuffled its leadership team to focus on growth, innovation, and digital by enabling them to build digital road maps for their regions and businesses
.
Unilever just acquired Dollar Shave Club (for digital subcription sales)

L’Oréal invested in Founders Factory (for digital startup accelerator)

Kassir Hussain of Connected Home observed that “In a space that can often be confusing and frustrating to consumers, our focus on regular user interviews, meetings,tests, and demos allowed us to build a product that was simple, easy to use, and addressed real consumer needs.”

Companies undertake transformation for various reasons:

Untapped Potential- Capturing unexplored value.

External Challenges- Disruptive entrants, changing consumer behavior, and macroeconomic pressures.

Strategic Goals- ESG value creation, M&A moves, diversity, equity, and inclusion principles.

Types of Transformation:

Digital Transformation- Infusing technology and tech-enabled processes.

Green Transformation- Prioritizing environmental sustainability.

Crisis Transformation- Navigating storms and disruptions.

CP Transformation- Crafting purpose-driven, inclusive organizations

We must continuously invest in periodic upskilling initiatives in a range of learning experiences to grow in the digital age.

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Invest in People

A young man is a theory; an old man is a fact......... Edgar Watson Howe

It’s not money that’s in short supply; it’s good growth ideas.

Who has these inspirational ideas that we translate into productivity-driving innovations?
People do.

 
Reinvesting in people could unlock new levels of labor productivity for cities and companies around the world.

Education as the Seed:

Imagine a fertile field where seeds of knowledge take root. Education is that soil, the bedrock of growth.

Formal education equips minds with facts, theories, and skills. But don’t overlook the informal education, the whispered wisdom of mentors, the pages of books, the symphony of life experiences.

Health and Well-Being:

Picture a healthy sapling, its leaves vibrant, roots deep. Investing in well-being pays dividends.

Physical health: Encourage exercise, balanced diets, and mental breaks.

Mental health: Destigmatize conversations. Provide resources for stress management and emotional support.

Diversity and Inclusion:

A diverse forest thrives. Inclusion isn’t charity; it’s strategic investment.

Representation matters: Cultivate an ecosystem where voices from all walks of life are heard.

Equity: Ensure fair access to opportunities.

An inspired employee is twice as productive as a satisfied one. The average, manager has less than seven hours per week of uninterrupted time for deep reflection. They spend the rest of their time attending meetings, sending e-communications that lead to employee burnout.

Companies should seek to systematically eradicate organizational drag — all the internal complexity that leads to inefficient and ineffective interactions. Leaving managers more time for deep thinking that unlocks innovation with significant impact on productivity.

For instance, Toyota Production System use Kaizen events to improve productivity on the manufacturing line. They pull workers off the line while giving them time and space to make processes.
leaner and to devise innovative work methods.

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The Ultimate Sale

The shrewd guess, the fertile hypothesis, the courageous leap to a tentative conclusion
– these are the most valuable coin of the thinker at work...... Jerome S. Bruner

A soft sales close is a technique used in sales to gently encourage a prospect to make a decision or take action without applying direct pressure. Unlike a hard sale close, which can be more aggressive and direct, a soft close focus on building rapport, addressing concerns, and guiding the prospect towards a decision in a subtle and respectful manner.

Buyers amass information that helps them justify their strategic decisions, with a soft close you can win the ultimate sale. A soft close can based on a suggestion that leads a buyer into believing they are acting of their own free will, when in fact they have been directed to follow an action.

A soft close technique like “If you spend another $Y, you will receive an additional X% off the entire order” can give you the winning sale.

Asking Open-Ended Questions, Soft closes often involve asking open-ended questions that encourage the prospect to share their thoughts, preferences, and objections. This helps the salesperson address any concerns and tailor their approach accordingly.

Trial Closes, instead of directly asking for the sale, the salesperson may use trial closes to gauge the prospect's interest and readiness to move forward. For example, they might say, "How does that sound to you?" or "Would you like to explore this further?"

Why Sales Win
The strategic values for buyers include :
1) Increasing revenues
2) Decreasing costs
3) Gaining a competitive advantage
4) Standardizing operations in order to reduce risk

Why Sales Fail
1) You can’t clearly explain how your solution helps the buyer’s business
2) You are too self-centered
3) You don’t alleviate the risk of buying your solution
4) You can’t establish a personal connection with the buyer

Overall, a soft sales close aims to create a positive buying experience for the prospect while gently guiding them towards a decision that aligns with their needs and interests.

Make the Ultimate Sales

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The Green of Business Health

We are collectively suffering from “nature-deficit disorder,” which hurts us mentally, physically, and even spiritually......Richard Louv

Research suggests that investing in landscaping our domain with plants will pay off through an increase quality of life and productivity.

Corporations can significantly reduce organizational health costs by introducing more green spaces and plants into an office space. Adding a little wilderness to your environment may just be the smartest move you can do this year.

Corporations like Google prioritize biophilia as a core design principle with these interventions you can reduce everyday stress and also boost general health.

Taking walks in nature lowers anxiety and depression while boosting total well-being. Even a very small exposure to nature – as little as five minutes – can produce dramatic benefits, especially when coupled with exercise like walking or running.

Ways to go Greener:
Encourage walking meetings outside.
Encourage naturally lit areas for breaks and lunch.
Create an indoor garden or a vertical “green wall.”
Move your creative space closer to a park or natural environment.
Display nature photography or artwork.
Play nature videos on your display screens.

Brighten your office by allowing as much natural light as possible. 

Consider LED lighting for artificial illumination.

Reduce paper usage by embracing digital processes. 

Use recycled printing paper when necessary to minimize waste.

Start a recycling initiative within your office. Place recycling bins near desks, printers, and break rooms.

Clearly communicate what items are recyclable and set goals for your organization.

Go green, improve your creativity, health and reduce your ecological footprint.

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Business Growth and Transformation

Our energy is in proportion to the resistance it meets.......... William Hazlitt

Business transformation requires repositioning the core business while actively investing in the new growth business.

In today’s dynamic landscape, waiting to “earn the right to grow” is no longer viable. Trends such as digital disruption, ecosystem-based strategies, ESG criteria, and the quest for talent demand swift action. Transformation isn’t a luxury; it’s a strategic imperative.

Transformation is not just about changing an enterprise’s cost structure or turning analog processes into digital ones. Rather, it’s about pursuing a multiphase strategy to reposition today’s business while finding new ways to grow

An organization that grew up producing newspapers, for instance, may not only lacks key skills to build a digital content company but may also actively resist embracing the digital model in order to protect the business it knows.

When Netflix announced plans in 2011 to create a stand-alone mail-based DVD company called Qwikster. This prompted a backlash from angry customers and employees — which triggered a humbling apology from Hastings the CEO.

He reformulated his plan, this time to extend the life of the core DVD business while aggressively rolling out the new streaming service in parallel.

It proved to be a winning strategy that funded the business growth into digital content.
Now, with membership of 100 million homes in 190 countries, Netflix is the leader in the movie and television landscape.

The CEO sets the tone, communicating significance, modeling change, and assembling a robust top team. Enter the Chief Transformation Officer (CTO)—the orchestrator-in-chief. This C-suite role ensures the transformation process harmonizes across the organization.

By imposing economic discipline, ruthlessly prioritizing, segmentation, retention, and monetization, business transformation assures investors of continuous profitability.

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Reflective Urgency

Sometimes you have to look reality in the eye and deny it..... Garrison Keilor

Reflective Urgency — the ability to bring conscious, rapid reflection to the
priorities of the moment and to align your best thinking with the swiftest course of action

A Classic Scenerio:
Sarah was a new manager struggling to adjust to the pressures of delivering on her work, while keeping the team accountable for theirs.
Trying to get it all done without any drop in performance, her urgency trap was a shift
to extreme command-and-control.
In her words, “Everything felt like an urgent crisis, so I acted like it was.”
This mindset triggered reactions that consumed her in delegated work while communicating harshly to her bottom-line in every email, one-on-one conversation, and team discussion.
The result was that her team felt micromanaged and less engaged in their contributions.
She failed to deepen relationships and establish trust within the team.

Diagnose your Urgency Trap:
You need to identify what’s limiting your quality thinking time — when you feel the pressure of too many demands.

Common Urgency Traps:
Ending one meeting prematurely, only to rush to the next one with more unfinished business;
Multitasking work that requires your complete presence and attention, which only diminishes accuracy and output quality;
Saying yes to projects that dilute your contribution and burn your energy, when a No is the wiser choice.
The pressure of impossible deadlines

Here is a Task for you:
"How much growth do you need to avoid becoming a marginal player in your industry as your market grows?"
"How do you optimize your acquisition spending for maximum value rather than minimum cost?”

If you’re too quick to react, you can end up with short-sighted decisions, neglecting underlying causes while creating collateral damage. If you’re too slow to respond, you can potentially miss an opportunity while allowing the challenge to consume you. -----Jesse Sostrin, PwC’s Leadership Coaching Center of Excellence.

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Project Failures

The numbers tell you how your business is going, not why........ Jonathan P. Siegel

Wanda Holbrook was a maintenance technician, she was trapped by robotic machinery and killed.

Wanda Holbrook’s job was to inspect and adjust the process on the assembly line at Ventra, which makes bumpers and trailer hitches

The robot loaded hardware onto Holbrook’s head and crushed her skull

The lawsuit says “The robot from section 130 should have never entered section 140, and should never have attempted to load a hitch assembly".

Holbrook family says "the robots were not properly designed, manufactured or tested and hence, unfit for use.”
The case is currently awaiting trial.

Project failure is rampant across all sectors, industries and fields:

• PricewaterhouseCoopers reviewed 10,640 projects from 200 companies in 30 countries and across various industries, and found that only 2.5% successfully completed 100% of their projects.
• McKinsey & Company studied over 5000 projects and found that 56% delivered less value than expected, 45% were over budget, and 17% unfolded so badly that they threatened the company’s very survival.

Business innovation, growth and profitability is directly dependent on completion of successful projects.
Avoid these five common causes of project failures:
Lack of Visibility
Lack of Communication
Lack of Technology
Lack of Resource Management
Lack of Project Culture

The aim of science is not to open the door to infinite wisdom but to set a limit to infinite error.......... Bertolt Brech

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Investing in Digital Currencies

Too often we enjoy the comfort of opinion without the discomfort of thought .... John F. Kennedy

 
A new decentralized global financial system is possible with cryptocurrencies by removing layers of intermediation.
Every major financial institution in the world is doing blockchain research at the moment and 15% of banks are expected to be using blockchain in 2017.

Blockchain is a distributed database that maintains a continuously growing list of ordered records, called “blocks.”
The first major blockchain innovation was bitcoin, a digital currency experiment in 2007 .
The market cap of bitcoin now hovers between $10–$20 billion dollars, and is used by millions of people for payments.
Blockchain has remained resilient to attack and it supports a robust payment system.

Cosider just 10 years of work by an elite group of computer scientists, cryptographers and mathematicians:

• A higher degree of reliability than the current system
• International currency transfers will go from days to a few minutes
• Auctions can now be universal and global
• A scaled blockchain is expected to be fast enough to power the internet of things
• Go head-to-head with the major payment middlemen (VISA and SWIFT) of the banking world.

With these suddden changes to existing business models and e-commerce, blockchain will disrupt the financial system much
like what the internet did to media and adevertising. Such a fundamental restructuring of a core part of the economy is a big challenge to all.
Preparing for these changes means investing and experimentation.
Those who do so will be well placed to thrive in the new, emerging financial system.

While Investing in Digital Currencies, Reflect on these three Propositons:
 1. Globalization is a major driver of growth and prosperity
 2. Technological progress enriches our lives
 3. Shareholder returns reflect businesses contributions to society

Crafty men condemn studies, simple men admire them, and wise men use them.... Francis Bacon

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Tax the Robots

"There will be fewer and fewer jobs that a robot cannot do better."-------Elon Musk

23% of routine jobs have largely been replaced by robotics and automation,
robotic production lines like Tesla’s will continue to eat away at manufacturing jobs.

This is just the beginning of the disruption;

There are now more robots on the internet searching for news an updates than humans

Robots are now taking over a range of jobs from security to checkout clerks.

At one restaurant in China, you can order a bowl of noodles made entirely by robots.

Japanese life insurer Fukoku Mutual replaced 34 insurance claim workers with IBM Watson Explorer software

Self-driving cars and drones will be able to pay for services (charging pods) with block chain 

There are just a lot of things that machines can do better than human beings;Jobs like teacher, doctor,
financial advisor, stockbroker, marketer, and business consultant.

Doctors and Consultants will never be able to keep up with every new publication in their areas of expertise.  Instead, they must rely on a small number of personal experiences rather than the complete knowledge in their field.

Humans can’t just plug in more servers when we reach our limits of processing new information

Many skilled jobs follow the same general workflow that robots perform better:
Gather data
Analyze the data
Interpret the results
Determine a recommended course of action
Implement the course of action

There is a social cost:
The avarage human with an income of $45,000.00 will pay income tax, pay social security tax, pay for services at the grocery store, restaurants, school, clinics, banks and run a family.

With the jobs gone, the entire social fabric is at risk.

Casting the blame of job losses on migration and globalisation is for small minds. These families are barely making enough to survive.

Plugin and Tax the Robots.

A powerful idea communicates some of its power to the man who contradicts it........... Marcel Prous

Unconventional Business Thinking

 The intuitive mind is a sacred gift and the rational mind is a faithful servant.
We have created a society that honors the servant and has forgotten the gift.... —Albert Einstein

Everything you want, and everything you need is somewhere in the world around you. And it’s closer
than you think. All you have to do is develop the ability to sense it, feel it, see it, and hear it.
But first, you have to believe it. Belief gives birth to passion. Passion gives birth to action.

If you’re shooting at Eagles, don’t focus on where the Eagle is now. Focus on where it is going to be.

Great entrepreneurs and innovators resist “success as usual” syndrome, They try to keep the big picture in mind and are wary of being too efficient and too optimized. This perspective helps them promote unconventional ways of thinking, solving problems, and challenging the status quo.

They know the goal is not to chase a fixed horizon but to understand when and how the horizon moves as they approach it.

For example, if you bet one dollar that the coin will fall on heads, your odds of winning are 50/50.
But if we happen to win 6 times in a row on head, we subconsciously believe that the odds of the coin landing on heads the seventh time are mysteriously in our favor. But they are not. The odds of the coin landing on heads are still only 50/50.

But most of us would optimise and bet all our dollars on the 7th flip; that’s when we lose it all.
We have rationally defined the odds; Our perception of the risk has become skewed by our most recent string of success.

Every time you define something, you subtract from it.......Herb kelleher

Each time you start a new business the odds are againts you, no matter your past success, the odds are still againts you, the odds does not change.

Step forward with instinct and caution each time.

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Becoming an Entrepreneur

Learn the business skills and startup mindset you need to excel.

Becoming an entrepreneur involves more than just starting a business — it’s about solving real problems, taking calculated risks, and building something valuable. 

Here's a clear, step-by-step guide to help you get started:

1. Understand What Entrepreneurship Is

• It's not just about making money — it's about identifying a problem, creating a solution, and delivering it in a sustainable way.
• Entrepreneurs take ownership, deal with uncertainty, and often wear many hats in the beginning.

 2. Identify a Problem or Opportunity

Start by asking:

• What frustrates people?
• What needs aren't being met?
• What could be done better?

Example: Uber started because of the frustration of not being able to get a taxi easily.

3. Validate Your Idea

• Don’t build a full business before confirming there's demand.
• Talk to potential customers.
• Create a simple prototype or landing page.
• Offer a service manually before building tech.

Tip: Read about the Lean Startup methodology.

4. Learn Basic Business Skills
At a minimum, you should understand:

• Sales
• Marketing
• Financial literacy (profit, loss, cash flow)
• Negotiation
• Time management

Success Tips

• Education (formal or informal) in business basics can be helpful but is not mandatory.
• Start small and test urgency and market demand for your idea.
• Prepare financially to cover personal and startup costs for several months.
• Use research and feedback to refine your business model and marketing

Becoming an entrepreneur involves a mindset shift towards problem-solving, identifying specific 

problems or opportunities, validating ideas with potential customers, and taking concrete 

steps like business planning, launching, and managing a business. Success often requires 

resilience, learning from failure, building a strong network, and possibly finding mentors.

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Economics of New Economy

A courageous leap is the most valuable coin of a creative thinker................Emmanuel sodipo

Imagine you’re about to leave the house to pick up your kids. As you grab your keys, a device from your coffee table interupts:
“It looks like you’ll use the last of your milk tomorrow, and yogurt is on sale for $1.29. Would you like to pick up an order from Shoprite, for a total of $4.95 before it closes for the xmas break?” You say yes. Alexa confirms; The order will be ready for delivery in 20 minutes.

The next generation of smart assistants and connected devices will learn from user habits and pick up on behavioral and environmental patterns in order to make these experiences more predictive. Devices like the Echo will access data from everyday interactions to predict specific opportunities for a transaction.

The future of predictive retail requires designing new ecosystems for commerce. These systems will be built around the human, rather than around a particular device or around online/offline experience. These systems will need to incorporate human connection, spatial design and lots of data.
Companies everywhere are making investments to build their digital businesses.

Decisions about digital platforms can make the difference between high growth and high margins or limited growth with declining margins. Unlike other technology and business investments, the digital business gets to the core economics of the company: revenue, growth, and margins.

The right digital business investments are of paramount interest to the CEO and critical to its long-term agility and margins. While questions about revenue, viral growth, and privacy receive attention, it is the agility and margins that ultimately determine the success of most digital businesses.

However; the Economist and the CEO differ in Approach:

Digital economics is set to upset markets trends and change everything. But economists don’t buy into the hype largely because the old economics lens remained useful for looking at the changes taking place.

The economics of the “New Economy” could be described at a high level;
Most human activities can be described by five high-level components: data, prediction, judgment, action, and outcomes.

For example, a visit to the doctor in response to pain leads to:
1) x-rays, blood tests, monitoring (data)
2) diagnosis of the problem, such as “if we administer treatment A, then we predict outcome X,
but if we administer treatment B, then we predict outcome Y” (prediction),
3) weighing options: “given your age, lifestyle, and family status, I think you might be best with treatment A; how you feel about the risks and side effects” (judgment)
4) administering treatment A (action)
5) full recovery with minor side effects (outcome).

As machine intelligence improves, the value of human prediction skills will decrease.

Machine prediction will provide a cheaper and better substitute for human prediction, just as machines did for arithmetic.

However, human judgment skills will increase as it complements prediction.

I believe the CEO and Economist prediction requires some human judgement.

Have a Perfect Holiday 

Redefining Work

The rate of unemployment is 100% if it’s you who is unemployed................ David L. Kurtz

Joshua Brown, a 40-year-old entrepreneur and technology enthusiast from Canton, Ohio, was cruising  his Tesla Model S sedan at 74 miles per hour in self-driving Autopilot mode when suddenly a tractor-trailer turned across his path. The Tesla failed to register the white tractor-trailer and
Mr. Brown didn’t engage the brakes in time. He died.

That was a brief snapshot of when machine intelligence fails us. But how does this affect work?
Autopilot and machine intelligence is when machines learn by experience and improve their performance over time through the entire production lifecycle.

Researchers are trying to predict its impact on jobs.
- Optimists suggest that intelligent machines will free human workers to do more
“creative” tasks
- Pessimists predict huge levels
of unemployment, as nearly half of existing jobs appear prone to automation. Hence, extinction
.
This view, in effect, calls for a re-examination of what a “job” actually is:
-How it is structured?
-How it should be reconfigured?
-How should companies rethink the value of a job, in terms of increased performance?
-What set of skills should companies invest in?
-Which jobs should remain within the company or outsourced?

This view further challenges modern culture of capitalism; how to generate a sustainable economic growth that is built on high-value well-paying jobs which is at the core of entrepreneurial societies.

Lets look at an interesting viewpoint from Martin Sorrell (CEO WPP):
"I’m actually somewhat suspicious when people use the C word—“culture”—because it’s often used by people who don’t want to do what we want them to. That said, several things have radically changed organizational culture. One is technology. Digital is now 40% of WPP’s business; data is 25%. Then there’s the fact that we operate in 113 countries. It’s impossible to run the company from the center; you have to have local sensitivity. Lastly, we now need to be purpose-driven, to appeal more to customers, to clients, and to our own talent".

With this redefinition of work, the male specie is the most endangered; for generations, he took pride in adapting to physical nature ofwork to care for his family, he now has no physical advantage over the female specie. Perhaps, it played out well for him in the recent US election with a Trump win, but for how much longer?

My mania for analysis exhaust me, excites her but educates us........Emmanuel Sodipo

See You at The Top

The Wrong Portrait

We see what you are driving at but you have not said it, and therefore we shall go on as before..... Oliver Wendell Holmes Jr

Economic stress is not always a matter of unemployment or underemployment.
There is a new kind of sweatshop in America, High pressure, high compensation firms,
such as banks and many tech companies, hire bright, young Ivy League graduates and pay them $75,000
or more per year with luxurious perks, in exchange for 70–100-hour workweeks.

What is wrong with that picture?
It is dysfunctional, let's take a closer look at the picture.

 The following numbers represent percentages of the U.S. adult population.
• Depression – 9%
• Anxiety – 18% (commonly in conjunction with other mental illnesses)
• Stress – 33% (between 33% and 42% since 19941)
• Workaholism – 25%
• Substance Dependence and Abuse – 8.2% (8.6% treated for an illicit drug or alcohol use problem in 2013)
• Alcoholism ○ Binge Drinking – 22.9% ○ Heavy Drinking – 6.3%
• Illicit Drug Use – 9.4% (not classified as addicted) ○ Nonmedical Use of Prescription-Type Psychotherapeutic Drugs – 2.5%
• Eating Disorders ○ Overweight – 60% ○ Obese – 34% ○ Binge Eating – 2-5%
• Nicotine Addiction – 25.5% (480,000 premature deaths per year plus 16 million people with a serious illness caused by smoking)
• Sexual Addiction – 6%
• Problem Gambling – 3%
• Shopping Addiction – 5%
• Insomnia – 20%
• Suicide – 0.0126% (41,149 per year, 10th leading cause of death – more common than homicide)
• Domestic Violence – 4%
• Crime Rate – 9% ○ Incarcerated – 2.7% (the most incarcerated country in the world)

"Economic stress" refers to a state of financial strain or pressure experienced by individuals, 

households, businesses, or entire economies. This stress can arise from various factors, and its 

effects can manifest at different levels.

Some common contributors to economic stress and potential impacts.

Unemployment and Underemployment:

Cause: Loss of jobs or inability to find suitable employment.

Impact: Reduced income, financial instability, and increased anxiety about meeting basic needs.

Financial Market Volatility:

Cause: Fluctuations in stock markets, currency values, and other financial instruments.

Impact: Investors may experience losses, affecting personal wealth and confidence in the financial system.

High Levels of Debt:

Cause: Accumulation of personal or institutional debt.

Impact: Debt repayment challenges, interest burdens, and potential credit issues.

Addressing economic stress often requires a comprehensive approach involving government policies, 

social safety nets, financial education, and efforts to promote economic stability and inclusivity. 

Individuals and businesses may also need to adopt strategies such as budgeting, saving, and 

diversifying income sources to navigate economic challenges successfully.

America is still the largest economy in the world. Perhaps, clever and a showman,
we can keep the status quo, or we can strive to be better...

I have one request: may I never use my reason against truth...... Elie Wiesel

See You at the Business Top