Why many businesses in Nigeria don't go beyond the First Generation. 1

I have this funny habit of wanting to know why things work or not. I don't know maybe it's a side effect of being a Physiologist. 😀

Because in Physiology you are trained to study the various systems of the body to understand why and how things work and function to achieve a state of balance.

I've keenly observed lots of businesses especially in the city where I live and I've discovered some interesting things about them that I'd like to share.

It's no news that in Nigeria many businesses hardly make it past the first generation. Many die with the founders.

I still remember from childhood till now how many businesses I know that have collapsed. I remember writing a post about one of such last year. It used to be a popular furniture company but has become a shadow of it's former self.

I've also seen a few that have made progress over the years inspite of all the odds.

One of such is a popular bookshop that sells bibles and Christian literature here in Kaduna.

I grew up knowing this bookshop, used to go there to buy books from when I was a teenager.

I've observed how over the years they have been consistent, opening one branch after the other.
Well stocked with books.

Not long ago, sometimes last year I just came into town and saw this gigantic edifice they had built as their headquarters and publishing house in Kaduna.
I was impressed. This is happening at a time when people hardly buy books. Most people now go for ebooks generally.

I began to ask myself what I thought helped these guys among other things and I discovered two key things.

One is consistency. They never diverted into something else. It was just Christian literature, CDs etc. They stayed on it. They were known for that and maintained it.

Secondly their books are always affordable and you get a wide variety of titles to choose from.

I know there are other things they did that kept them going but from my observation as an outsider and one of their customers, I believe these two things contributed a lot to their success.

Next week I'll share more on some of these observations I've made and even some of personal experiences as to why certain businesses don't go beyond the life span of the founders.

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