By ‘Dami Cole
Happy New Year
Looking at my calendar, I can’t help but wonder how fast and far this year 2016 has gone. We are already in the 6th day of January- We should actually start counting down to 2017 already. As a tradition at the beginning of a new year: Prophets (both real and fake), Economists, Social commentators and Policy makers predict on the economy, socio-political and all-wise state of the nation for the year. Almost always accompanied with doom messages (they actually sell better). The bottom-line messages for the year 2016 is hovering on a bleak economy partly caused by the decline in oil prices and the economic recession caused by the past administration and the just-starting new government.
As a result of this, the populace has been ‘promised’ with job cuts, stringent and belt-tightening measures by the government to forestall a total breakdown of the economy. Panic everywhere! Where do we stand in all of this? Despite this, Nigeria is ranked as the fastest growing African economy owing to its human capital. The Human Resources accounts for its strength, not oil! Any business started in Nigeria that can succeed will probably succeed anywhere in the world. A story is said of two young men who went to the village Chief priest to consult on their future. One was told he would become a king and get so wealthy while the other was told he will be so poor and a servant. The fellow who was promised wealthy took to the streets, jubilated, gallivanted and lived recklessly (at least he will be rich after all) while the other one began to work hard, toiled day and night at least to cushion the effect of his impending poverty. The Years went by, the one that was prophesied to be poor became so wealthy that he was elected the king while the one who was told he would be poor became the servant.
I will highlight a few points in which you can take the paddle and control the tide in your favour this year.
1.) Identify Opportunities and take advantage FAST: As a result of less concentration of income in the oil sector, a lot of opportunities will spring up. A lot of startups were created in the past years as a result of this opportunities, they identified what we ignored and are making a difference with them. A lot actually have existed before now but you’ve been blind to them. Look more closely to things that add value to others and you can offer at a cost. Get a business registered and boom!
2.) Get better: An MTN advert started sometimes in 2014 that “Leave Good behind”. Using the same approach year in year out will bring monotony in duty and action. Get better at what you do, the services you render and how you carry out activities. Hire consultancy firms to help reorganize your businesses, attend workshops and conferences to be better at what you do because the competition will be much more.
3.) Hope for the best, Expect the worst: Have contingency plans. If Plan A doesn’t work out, move on to plan B without making a fuss about it. A lot of job cuts are ongoing, and would still go on. Start sending your CV out already, start preparing that business plan, start saving up so you don’t get caught unprepared.
4.) Build your network and regularly keep in touch: A saying says “Your network is your net-worth”. Your first customers in any business are probably referred to by people you already know. Relevant networking is key.
5.) Be ready to learn and unlearn: Truth is some accountants will end up taking sales job (that is already happening). You might need to diversify on what you already know and at the same time unlearn some wrong perceptions. You need knowledge on current trends and know exactly which is needed to adapt to.
I believe with this you are ready to sharpen your reality and make 2016 your most profiting one.
Damilola Cole is an Accountant is the Managing Consultant at DD Oil and Gas Consults, A firm with specialty in the retail downstream sector. You can engage him on Twitter @dami_cole
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