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The Law of the Value Chain

I was at a courier company on Saturday to send out a parcel to Abuja. This courier company actually started out as a transport company with buses going to different destinations in Nigeria.

 Overtime, people sent parcels through the drivers to different destinations. The company saw an opportunity and started a courier and logistics company.
As the very courteous staff of the courier company attended to me, I saw her bring out different cartons to pack the items I was sending out. Several parcels were everywhere packed in those cartons.
I whispered to myself that production of packaging is another line of business that this company should go into- if it is not already into it. The company will produce for its own use-rather than buy from others- and also sell to other users of packaging materials.
From transport to courier to packaging- this is a simple explanation of value-chain activities.
To make the best out of a struggling economy or one in recession, you must apply the law of the value chain. A value-chain mindset puts you ahead because you’re thinking ahead. Not all aspects of a value chain can be in recession at the same time.
If a segment experiences bust, there’s a likelihood another segment is experiencing boom. Value chain also provides an easy way to have multiple streams of income.
If you run a school, look at the value chain opportunities. You can also sell school kits and uniforms. You can sell books and instructional materials. You can sell educational toys. You can have buses that can do school runs for schools who can’t afford buses.
Your finances will not be restricted to the vagaries of the school calendar alone if you maximize the value chain opportunities.
You can also use this value chain thinking to look at an industry holistically so as to identify those you intend to serve. Let me give an example. Let’s choose the popular ‘okada’ technician. Right beside the okada technician is a vulcanizer.
The vulcanizer sees the needs to serve those who bring their ‘okadas’ to the technician. Around that workshop, is that Mama Put (usually a woman who sells food inside a wheelbarrow or a contraption).
Then you have those selling oil and lubricants. You have those who sell the reflector jackets and the graphic designers who write on them. People who sell helmets. And the people who ride the okadas.
You also have those who import the CKD (completely knocked down) parts and assemble them locally. That’s the okada value chain.
To understand how the value chain of your sector works is to understand the immense opportunities that you can leverage on. During the lockdown, I spoke as a guest on an Instagram Live show of a music artiste where I broke down the music value chain.
Most music artistes in Nigeria just release an album, have a few concerts and set up a studio to record sessions and they think that’s all. I spoke about how they can make jingles for production. Song composition or being a lyricist is one area we don’t cover much here.
You can write songs for other people. Or just score the music. You can have a recording label. You can be a producer. Or be a music or sound engineer. You can have music instruments for rent. You can sell music CDs in retail outlets. Or distribute like those ‘Alaba’ boys.
You can be an event promoter or offer on-demand/live music streaming services. You can run a music blog. Or produce podcasts. You can make ringtones. The music value chain is so huge.
Thinking value chain will give you a competitive edge. It makes you see areas where you can scale up or how you can maximize unexplored opportunities. If your business is struggling, look at the value chain opportunities and move up or down as required.

Bayo Adeyinka
By the way, do you have my books? You can get them by sending a DM to @Rovingheights . They’ll be delivered directly to you.

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He is not a Nigerian but had just secured an appointment with a company. His first statement was “Bayo, I need to pick your brain on this because with you I know where I stand. I know you’ll not deceive me”.

After our discussion, he told me he had already informed his Chairman that their banking relationship had to come to me. I’ve signed it on since.

I’ve had cause to reflect over his statement many times since then. Here was a man whom sometimes I had very difficult conversations with. I’ve had to tell him no when I knew his requests were not possible. Sometimes, the relationship was stormy.

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I got my team together- about 8 of them- people in e-business, IT and other units that I know will have one thing or the other to do with this company.

I wanted to conclude in just one meeting. As the South African MD and his Israeli partner walked into my office where we were all seated and I stood up to exchange pleasantries with both of them, his eye went to the book on my table. 'Oh, you're reading Tipping Point?', he asked.

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I make friends with people in that environment- especially cab drivers. I met Somto and he was just perfect for me. He knows the road but even more, he knows the interesting places and is a good conversationalist.

I jumped into his vehicle and off we went from Agulu where I stayed. Agulu has the best hotel I have stayed so far in this country. I'm not saying this lightly at all. The Golden Tulip Hotel in Agulu owned by the Anambra State Government is a masterpiece of hospitality.


Located on the banks of Agulu Lake, the landscape is a beauty to behold. If you love nature like me, you don't need to go any further. Just looking at the hills and the lake will give you immense pleasure. The view from my room was simply breathtaking.


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My dear Nigerian Youth,

I'm still on your case. I'm not about to relent so soon because you represent immense potential and you sit on a gold mine yet you know it not.

You account for at least 43 percent of Nigeria's population. You are over 72 million strong. Unfortunately, what is a blessing is turning to be a curse. Your situation brings a scripture to mind: man that is in honour, and understands not, is like the beasts that perish.

You still wonder why I'm miffed? I sat across one of you- a young lady- today and listened to her tale. She had spent 2 years living in Dubai and slaved away for a real estate company. After 2 years, she's back to Nigeria- broken and penniless.

She regaled me with stories of how more than 75 percent of her income went to rent and she couldn't even afford a decent accommodation. She had to 'collabo' with two other ladies to rent a studio apartment. But now she couldn't stay in Nigeria anymore.

She complained so much about the road and heat that I wondered if she was born in Dubai! She also complained of lack of capital when I asked why she couldn't settle down to do something in Nigeria. I told her no one has 'capital' problems but what people have is 'idea' problem.
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