Imagine Nigerians as investors and the Buhari led APC Government as an entrepreneur seeking funding, here are six business lessons every entrepreneur or fund seeker must learn from our ongoing experiences as a nation.
- UNDER PROMISE AND OVER DELIVER– Many times in a bid to get funding and impress investors, we over promise and then have challenges delivering the promises when we eventually get the funding.
Failing on a promise goes to the root of trust. From the failed graduate job seekers allowance to paying 23million graduates 5,000 Naira monthly, reducing pump price to 45 Naira per litre and stabilising the Naira which currently stands at 500naira to one dollar, entrepreneurs should learn from Buhari led APC Government’s promises.
- MAKE REALISTIC PROMISES: When you eventually identify the promises you want to make, ensure it is based on realistic need and risk assessments because integrity is key to promise making.
Two years into the APC led Government, there is an obvious difficulty keeping to promises made. As entrepreneurs, always check your fact and be sure you can deliver. Learn from Buhari.
- QUIT WHINING ABOUT THE PROBLEM, PRESENT YOUR SOLUTION: So imagine me constantly reporting to my investors that I’m unable to do anything because the government isn’t building infrastructure and providing for pregnant women? Imagine me repeating this excuse consistently for two years even after receiving funding?
Investors already know what the problem is. You’ve told them several times in your application for funding and countless times thereafter. It’s also the reason you got the funding. So why are you still whining about the problem? Why not get moving and deliver on the solutions you promised investors? We all know PDP government looted us blind but this isn’t about the PDP, this is about the APC Government and delivering on its promises. Learn from Buhari.
- IN YOUR TEAM, COMPETENCE SHOULD TRUMP LOYALTY- One thing investors are interested in is the constitution of your team and you should work to ensure you put together a competent team.
If you keep focusing on loyalty based on tribe, past relationships and other inconsequential factors, you will find yourself moving around with dead weights and defending the indefensible.
- THE COURAGE TO CHANGE OR AMEND A FAILED IDEA OR POLICY- Changing a failed idea or policy midway isn’t weakness, it is strength and the investors will admire you for the courage to do that.
It’s okay if economic policies or other policies aren’t working. The Government shouldn’t be ashamed to admit that the policies aren’t working and put forward a better thought out policy.
Learn from Buhari.
- CRITICISM IS A TYPE OF FEEDBACK, EMBRACE IT- Sometimes, just like some Nigerians wanted to protest against president Buhari, investors will disagree with some steps, ideas or action we intend taking or have taken. We must respect differing views and opinions, understanding clearly that criticism is also a type of feedback and we must embrace it.
We’ve got two more years left of this government and I’m hoping entrepreneurs will have some positive lessons to learn as we go along.
CREDITS: This article is written by Adepeju Opeyemi Jaiyeoba, founder of Brown Button Foundation and Mother Delivery Kits.