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Pivoting, Expanding, and Collaborating in the Present-Day Economy

One beautiful trait of every Nigerian is the ability to adapt. No doubt Nigeria is called the Giant of Africa.

A giant doesn’t waste time complaining. He doesn’t wait for anyone to pamper him. He sees himself as a leader that needs to help others. When he falls, he doesn’t wait for a messiah. He strives every day to get better. Even when he is bleeding, he lends a hand to the weak. He doesn’t spend all day complaining about a bad situation. The only question he asks is: What is the solution?

We might not have met a physical giant because we didn’t live in Medieval times when humanity only built muscles for physical war. But we see giants in movies. And if we look intently, we can see them in our families, workplaces, and the street. Most of them appear weak, but they are inner giants.

Indeed, every Nigerian is a giant. They might complain about a bad situation, but you can’t easily break their spirit. They will adjust and move on.

Don’t just take my word. Analyse 1999 to 2023 to see how Nigerians have adapted for the past 24 years.

The kulikuli sold at 50 kobo in 1999 is now #50. That means you have to gather 108 coins of 50 kobo to buy just a piece of kulikuli. Small bread has gone from #10 to #200. The same applies to landed property, fuel, and transportation. #5 Fufu now sells for #100. If you are not careful, the seller will add an insult as ‘jara’ (bonus) because she’s angry about her little profit margin.

This inflation doesn’t only affect Nigeria. There is inflation globally right now as a result of the Russian-Ukraine War. That means there are many giants in the world, and you are one of them regardless of national boundaries.

So, what is the solution?

PIVOTING, EXPANDING, AND COLLABORATING

  1. Pivoting: Pivoting is the act of changing how you operate your business or the business model. In short, you have seen the impact of the removal of fuel subsidies on the cost of fuel and transportation. What can you do to make life easier for yourself and your employees? Maybe using solar energy for your business will be better than burning expensive fuel. You might need to adjust your rates or pricing to reflect the current reality. Some of your staff will have to pay an additional #10,000 or more for transport fare. So, sit them down and express your interest in their welfare. Let them work from home sometimes while you monitor their results, only if it is possible to work remotely. If your business is no longer profitable due to constant changes, maybe it is time to do something different.
  2. Expanding: Expanding in this context doesn’t refer to business expansion. Instead, it means extending the scope of your marketing. That means you need to reach more people. The reason is that the change in the economy will stiffen the purchasing power of many people. To stay afloat, you have to market to more audiences. If you have the capacity, you can also expand the business to a new market.
  3. Collaborating: You already know the collaboration that happens between businesses and individuals. You already know it involves combining resources, knowledge, and effort toward making a profit. If you do not have this capacity or are afraid of risk, you can go by affiliation. Look for a company or individual offering a product or service you think people need, and ask them how you can sell for them. You definitely know someone who needs their products or services, recommend them, or serve as a middleman and earn your commission. These will help to improve your income.

Dear Giant, you can do these.

We hope to hear your story someday at #HugDayEvent. Take a hug!

Now, go ahead. Pivot, expand and collaborate.

We wish you success, #Huggers.

Would you like to post an article that addresses a specific problem in your region or country to inspire or educate the public, kindly send your article to writer@hugdayevent.com, stating your name, country, social media handles, website (optional), and the target audience.

You like it? Blow your trumpet.

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One Response

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