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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.

@threader_app unroll

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“I’m not upset that you lied to me. I’m upset that from now on I can’t believe in you”- Friedrich Nietzsche

Sometimes in October, I received a call from a former client who had been out of the country for almost a year.

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.

I never fail to tell my colleagues that the major currency for transaction is integrity and this will only be sustained in an atmosphere of trust. Never lie to customers in order to make a sale.
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The Law of Speed

Speed has become an important element of strategy.     
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I got there as they were opening the door at 8am yesterday Friday. I wanted to send copies of my books to @Rovingheights at Surulere.

After putting the books on their scale to measure the weight, I was given a bill of N30,000. I filled the accompanying form and was about to pay when the lady at the front desk of this courier company told me that the books would be delivered on Monday. I couldn’t believe my ears

You mean I’m sending books from Lekki to Surulere and it won’t get there next day? And I’m going to pay N30,000 for waiting for that long? Friday to Monday?

I took back my books and left. I checked google for another courier company closest to me. I saw one in Victoria Island and drove there. The lady at the front desk gave me a bill of N16,000 for next day delivery. The time was 9am and I insisted it should be delivered same day.

She called her supervisor in my presence and I heard her supervisor say I had to pay twice the amount if it will be delivered same day. That’s N32,000 from Victoria Island to Surulere.
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Fighting Ourselves When We Should Be Fighting Them

In support of Jimi Agbaje during the 2015 elections, I produced 2 jingles as my contribution. I wanted him to win.

So, through the assistance of a friend of mine who is a PDP stalwart, we were directed to handover the CDs to a PDP Chieftain in Lagos. The PDP Chieftain asked us to meet him at a club house around Palmgrove. It was a Sunday evening.

When we arrived, we passed through security checks. The club house was guarded by mobile policemen. On entering, the PDP Chieftain was seated with company. Right opposite him was a friend with company also. All of them were having drinks.

They were the only people in the club house-apart from the stewards- and my friend and I. The club house was shut to others and we could only come in because our names had been dropped with the mobile policemen who were on guard. Music blared from speakers in the club house.

We were invited to have drinks. We respectfully declined. No be wetin we come do be that. I handed over the two CDs. The first CD was played. It was a dance-along, sing-along, gyrate kind of jingle. The friend of the PDP Chieftain jumped up and started dancing.
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How Reading Helped My Career

 In 2013, a joint venture Israeli/South African company was looking to make a foray into Nigeria. They wanted to set up an outlet in Lagos after conducting their feasibility studies and they needed a Nigerian financial institution to partner with.

Somehow, i was given their contacts and we agreed to meet with our teams from both sides at Victoria Island. 

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.

I was reading Tipping Point by Malcolm Gladwell that week and I had the book on my desk in the office. I usually have the books I'm reading either in my car or on my desk. I replied in the affirmative.

He asked for other books of Malcolm Gladwell that I've read and I mentioned Outliers-The Story of Success and What The Dog Saw. He asked for my best among the books and I mentioned Outliers. His best was Tipping Point.
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Exactly 5 years ago, it was my last day at work at my former organization and I sent out a valedictory mail to my team. It was a truly emotional experience.

I hereby share that mail I sent 5 years ago. How time flies.

My dear South West 1 Team,

This is a very emotional moment for me as I know goodbyes are not easy. I want to take this time out to sincerely appreciate each and every one for your support during my brief sojourn leading the team.

I call it a sojourn because life is a journey and not a destination. We will all never 'arrive' in the real sense of it and people must move on at certain periods in their lives. That is exactly what I'm doing. You've all been part of my life just like I have been part of yours.

I'm particularly delighted and it is my sincere joy to note that together, we have made some progress. We are not exactly where we want to be but then we are no longer where we were when I assumed leadership of this Region a short while ago.

So, let me leave you with a few 'take-aways' as I take my bow:

1. MYTHS ARE MEANT TO BE SHATTERED

When I resumed in the South West, the fashionable reason for the poor performance was the excuse that the State Governments were owing salaries.
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Xi lays out four priorities for world:

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2) Abandon ideological prejudice and "jointly follow a path of peaceful coexistence." Says no country is superior to another. "There would be no human civilization without diversity," he adds, taking aim at "arrogance, prejudice and hatred";

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Today is “Korean American Day”.

#OTD in 1903, the first large group of Korean immigrants arrived in US-conquered territory. [Thread]


102 Korean men, women, and children arrived in Honolulu aboard the SS Gaelic to work in Hawaii’s sugar plantations. By 1905, Koreans comprised 11% of Hawaii’s plantation workforce—around 7000 people.


This first wave of Korean immigrants arrived amid sharpening imperialist rivalry in the Pacific. Korea had slowly been losing its independence for decades, and by 1903 was just two years away from becoming a protectorate of Japan.

At the same time, the US was consolidating its position in the Pacific, annexing Hawaii, Guam, and the Philippines in 1898, and partitioning Samoa in 1899.

(Pictured: US troops in the Philippines)


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Let me talk to those who are planning to buy cars these year; Buying a car is good. Very essential for making life easier. However, a car isn’t cheap, the cheapest car is around 450USD in Kenya. Today owning a car may seem very easy as compared to the 70s, THREAD 1/3


Today you can buy a car either in cash 💰, by bank finance, hire purchase and through trade in. But my interest on this post is on bank financing and Hire purchase. Bank finance is where the bank buys for you a car and you pay the bank for a period of time.

Hire purchase terms of purchase is where by you identify a car in a dealership, negotiate for its final price, pay an agreed deposit upfront then clear balance in defined period of time I.e in 6/12/18/20/24 months. So HP =Deposit + total Monthly Installments.

Whenever a bank offers to buy you a car, there is always a 99.9% chance that they will retain the logbook[A substitute for a collateral in lending] A logbook is the only instrument of ownership for any car in Kenya. So the bank will issue you with your logbook once you finish,

Finish paying for the car. The only problem I have with bank financing is the possibility of the buyer losing the car and servicing the loan. It has happened and it does happen. The bank repossesses the car and they auction it. You shall have lost two important things; the money
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By June 2012, there was another clash. This time between the NURTW and the PDP. The story was that the NURTW were angry that PDP members were singing Arikesola's praises. You can read the report for yourself.

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