Abayomi Joseph ODEWALE April 20, 2017
future of business in Nigeria

With the dynamics of business ambiance, the world is on the spiral spin of transitioning from traditional business ways to digital ways. Nigeria inclusive is on the spiral spin — being a major player to reckon with in African market. Nigerian entrepreneurs and investors shouldn’t be caught off guard because full fledged information age migration is imminent — culminating in the adoption of Internet virtually for all tasks.


According to historians, Industrial Age began around 1760 while Information Age started creeping in around late 20th Century. The era we are now is tending towards Computer (Information) Age. The era of Industrial Age is gradually fading away. In view of this, there is an urgent need to be proactive as an entrepreneur towards spinning and strategizing in tandem with the looming change.
Spanning through education, agriculture, fine art, medicine, science, engineering, and technology — there have been obvious signals of gradual incorporation and adoption of the Internet towards uplifting the aforementioned sectors in relation to current economic demands and modifications.
Any entrepreneur that is fantasizing in the hitherto business traditional models is sitting on a time bomb that could explode soon — thereby throwing the nurtured business into oblivion.
Looking back to 10 — 15 years ago, did you notice any change in the way your chosen profession was carried out in comparison to the present day demands? And besides, have you ever forecasted how your profession will be in next 10 — 15 years time? If you haven’t thought of it, maybe this is the right time to start mapping out visionary plans for your business to successfully toil the turbulent tides — thereby making it stay relevant in years to come.
This is not a period to sleep off or else your business will be knocked off stage, it is a period to make effective use of the seemingly hidden third eye in forecasting into the business world to come.
Down the memory lane — before embracing the Internet, when it comes to products and businesses advertisements — a few years ago, the traditional methods of advertisements; which are: radio, television, newspapers, handbills, posters and billboards were widely used. Although, these mediums are still widely used nowadays but, it will be detrimental to one’s business not to adopt and include the Internet as a means of advertisement.
Who could envision a few years ago that businesses in a locality could cut across continental borders? Only a visionary entrepreneur could forecast the current trends of things back then. With the Internet, you could relay your business profile to the entire world. Details of your business could be known, this encompasses nature of business, location, the management/workers, careers and Frequently Asked Questions (FAQ).
Diligent search on World Wide Web is being adopted prior to contact with the firms. Through these, the potential clients would have an impression of what your business is all about even without a prior encounter with your business. The business world is going to an extent in which a firm without online presence would be tagged as a fake and non-existent firm.
The comment section could be used in garnering genuine product assessment and a leverage for dispatching questionnaires towards effecting changes and modifying the products in tandem to consumers’ tastes. This is a cumbersome task had it been it involved the traditional methods of dispatching questionnaire papers.
Also, roadside mechanics, for instance, the traditional way of detecting the fault in a vehicle is by inspecting it physically — whereas some errors aren’t detected by mere physical inspections. But, with the advent and incorporation of computer scanners, the errors and faults could be easily detected without any stressful physical inspection.
With the way things are going, a mechanic without the computer scanner tool, familiarity and in-depth knowledge on the working mechanism of the new vehicular products being reeled out yearly — is bound to be left wanton in few years to come. Now you see the reason why a serious mechanic must find means of getting trained on how it operates.

of the new vehicular products being reeled out yearly — is bound to be left wanton in few years to come. Now you see the reason why a serious mechanic must find means of getting trained on how it operates.
The road side mechanic scenario applies to all professions. “Upgrade”, that’s the key word. You have to upgrade your business in order not to be outdated.
Teleconferencing is now used in organizing board meetings and conferences, with the participating members stationed across diverse areas. No more need of waiting for participating members to converge on a spot before the meeting could commence. This is quite commendable. On Aljazeera, CNN, BBC among others, live interviews are held via Skype, Google hangout among others — with the interviewees at different locations. That’s an impact of technology.
The payment and transaction model is being revolutionalized and it will continue to witness the tremendous transformation. The traditional method of payment involving cash transaction is gradually waning while cashless transaction model is gradually gaining ground. A proactive entrepreneur should be aware of this and get prepared in reforming his business to suit the imminent change so as not to get knocked out of business.
Especially, recharge card sellers are losing customers at an alarming rate due to value added services rendered by banks which enable customers to recharge their phones by dialing short codes without hassles. It is high time the traditional recharge card sellers ventured into other businesses — as their model is gradually unfit for the current economic environment.


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