BY Chuck Nwachukwu||
A really wise man recently said of Lagos… the storm is here and the jungle alive with reasons enough to make Columbus take a detour.
It’s so easy to get discouraged in the eye of the storm. Running a business in the city of Lagos is considered hazardous and illogical. In truth this singular geographical location is considered the lead in the axis of business terror.
This week had its own fair share of glory and bile filled mugs. Resonating at the back of my mind are countless situations jostling for ink space.
As a company that sits its bottom line on creating value for the city of Lagos, Lagos LaidBac co @lagoslaidbac strives in its dealings to keep that singular proposition in the fore of its dealings either with our prized customers or esteemed service providers.
We began the week with a surprise email from our bankers at Sterling Bank @sterling_bankng asking for our thoughts on value proposition that would put a core Nigerian market sector in a better plane as much as accessibility and returns are concerned. Really exciting is the opportunity to add value to our heritage on some other level. We do our bit, teaming up with IMAGINARIUM’s CEO Ferdy @ferdyadimefe and MUSIC MEETS RUNWAY / LE REVES EVENTS CEO Jennifer Olize @JenOleez to handle that task just right after we attack the strengths and downside of the project as a team during our morning meetings and coffee breaks.
Believe, it is sometimes difficult to juggle doing your core and winging a side project. Asides the proceeds or apparent profits that arise from a winged project, the downsides are a bit too underrated.
We had our man on the grounds of the Gold Coast all week doing research and development. Deji @goldmansupply throwing caution to the wind took Ghana by the hairs in a bid to understand the market terrain, the consumers and opportunities for expansion. Meeting with the CEO of Sellgh.com Mrs Esi Adjare, Ahonya.com CEO Gerakd, and also numerous associates from the famed Movenpick Hotel to the fabulously designed Tulip Hotel, we have been able to establish notable business rapport we intend to exploit to maximally.
It is certainly hazardous running a business out of Lagos… Credit cards issued from Lagos are mostly rejected by international suppliers hence you have to pay the extra bank charge, telex fee and vat to complete a transaction which ultimately adds to the cost of goods and services. The power issue is absolutely appalling; businesses here have absurd overhead costs attached to their financial sheets due to that singular reason.
But even in these times and with these conditions, its still a jungle out here in this space… there are countless business competing for the meager funds available from the little population of consumers with buying power. We have decided to do two things differently to keep up our pace in the market;
- Create products / value that is readily available and takes advantage of our population figures.
- Expand into other economies that are easily accessible around our nation state.
We are doing what great companies do differently.
We create value for society, solve the world’s problems, and still make money, too.
________________________________________________________________________________________ Chuck Nwachukwu of Lagos LaidBac the Official Lagos Merchandise Shop