How To Find Authentic Business Ideas. You Are Sitting On Gold!

I was in Lagos all through July this year and almost many students kept asking for ways to find the right business ideas. Come on guys, you are sitting on Gold. That is what I kept telling many. Look, at the airport, I met many foreigners who are migrating to Nigeria because of the opportunities they find in Lagos and other states. So why is it a challenge for us inside to find these ideas? Let’s take away capital first as an excuse because frankly, if you have a good idea and you have done your homework beforehand, you will find someone to invest in that idea. There is no magic recipe that fits everyone and all geographical spaces, so be patient with me as I explain further.

Create your own job with your business ideas

Our economy today is not as saturated as the European or American space where people literally get help to seek a job. No, in Nigeria, there are over 90 million unemployed/underemployed people. Oya, please tell me who will give you a job. You have to create your own job literally speaking. Here are some deep strategies to find authentic business ideas.  I mean authentic because any idea you want to venture into must be very organic to your nature. You must love it and build skills around it for it to become a success story. 

SMEs can reclaim Nigeria

Now, I say we are sitting on gold because Nigeria is a mass populated country. We are a very young nation who became independent” since 1960. I am always very irritated when people compare Nigeria with many western countries in Europe for example, forgetting that these countries  have had centuries to develop and developed based on exploitation of the African space. Yes, I know we suffer under bad governance. But frankly speaking, one way out is that the SME sector needs to expand to the stage where it can reclaim Nigeria from those that exploit it. Our population is very young with lots of potential to grow. I strongly encourage you to look into niche business ideas and also something that the masses can afford. 

Many people ask me what they can import or export to make more money. Please why must we always think import will solve our problem? Go back to the village and learn some tangible skills on how to process, produce, store etc. Then come back to the digital space and learn new methods  and technology around that skill. You will be amazed how much innovation you can start by combining old indigenous knowledge with new technological advancement. This is strategy 1. That is the strategy many nations that are self-sufficient today used. Try it. Find something that interests you to produce and explore it from this angle. Then before you think about export, please make sure 204 million Nigerians (50% is enough though) already have access to that which you think other people out there seriously need. If you can do this, you will make money!

Then focus. Too many people start and stop before they even start. I know there is hardship and some challenges to pay bills. So why not get a less demanding job to cover the instant bill and use the rest time to develop your business. Getting a job to pay bills does not mean you will do it anyhow. Look, if you cannot sincerely invest tas a n employee in someone else’s, why do you expect to be blessed with yours? And always look at this as a process of learning. 

Stop looking for quick money.

Quick money might never come. And if it does, it might also vanish quickly as you have not developed the foundational skill to manage or grow it into sustainable capital. Focus. Start with one idea, find the target niche and build from there. Many people argue that they must put their eggs in many baskets o. Because who knows which will harsch first and plentifully? Ok, continue. Focus does not mean you are ignorant about other opportunities. It simply means you tap deeper into the depth of your creative power. Yes, you have creative power. 

To access this power and activate it, there are simple health practices you can carry out. It’s all about shutting down the noise that comes in the forms of distractions . You can connect with your deeper self in many ways. In another blog, I will share some simple daily practices you can use.  Focusing on your business ideas to get deeper will show you how to derive multiple income streams from that idea. If you are in the fashion industry, check my blog on multiple income streams. 

Do not wait, start now. Many people are looking for a business plan or even someone to write it for them. Please, the essence of doing that hard work to articulate your business plan is so that you “think”. We have stopped reasoning and thinking o. Please think. A business plan must not be any fancy document, except you are ready to present it to a second or third party. If not, it is a strategy document or recorded information that summarises your intentions. Intention is set when you carry that business idea from your mind into any form of documentation, be it as a written document, a handy recorded audio or video. Check this link to see a simple guide and structure of a business plan.

Are you sitting on gold?

Finally, make sure not to overlook the simple things around you. Sometimes, you might be sitting on gold and you do not know it. Take for example Cyrus 45. They are brilliant in interior design. Visit their instagram page to see the extraordinary furniture pieces she’s making. From used, thrown away tyres to gold. Do you have a space you can rent? Can you cook something special? Are you good with your hands? Can you organise events? Can you network with people? Are you creative? Does your family have an unused piece of land? 

There are many things that can spring out of what you already have or have access to. Tap into them. So this was my first blog after my holiday this summer. We would be launching a Business Idea Revamp Project. If you want to participate, then make sure to subscribe to our newsletter to know when we start. Subscribe to my YouTube channel to get the training videos and many ideas. Maybe we can come over to your space with experts and help you get your idea to the next level. 

That was it from me, I hope to blog next week. Love ya all, 

Joana

Joadrehttps://www.joadre.com
I am Joana, a Nigerian-born Austrian-based entrepreneur and activist. Founded Joadre in 2012 and continue to develop content to engage and empower African SMEs.

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