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The Entrepreneur as a nation builder By Sir Demola Aladekomo

The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

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Page 1: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

The Entrepreneur as a

nation builder By

Sir Demola Aladekomo

Page 2: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Paper presented at the

2nd Annual Oladele Olashore Memorial Lecture at

Joseph Ayo Babalola University,

Ikeji – Arakeji

State of Osun

14-Nov-14

2

The Entrepreneur As a Nation Builder

Paper presented by

Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Page 3: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Protocols and Recognitions

14-Nov-14

The Entrepreneur As a Nation Builder

Paper presented by

Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

3

Page 4: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Highlights

1. What is an enterprise ?

2. Who is an Entrepreneur?

3. The Entrepreneur, my Point of View

4. Chams PLC Enterprise Trajectory

5. Chams Entrepreneurial Roles and contribution as a case study of

impact of entrepreneurs in National development

14-Nov-14

4

The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Page 5: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Highlights

6. The massive opportunity called Nigeria

7. Myths about Entrepreneurship

8. Tips for a successful Enterprise

9. Role of entrepreneurs in nation building

10. Chams has contributed to nation building

14-Nov-14

5

The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Page 6: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

What is an Enterprise ?

“An undertaking, especially one of some scope, complication and risk.

Effort made by people to achieve something new

A purposeful or industrious undertaking(especially one that requires effort or

boldness

An organisation created for business ventures

Readiness to embark on bold new venture

14-Nov-14The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

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Page 7: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Who is an Entrepreneur ?

An individual who, rather than

working as an employee, runs a

small business and assumes all

the risk and reward of a given

business venture…, a business

leader and innovator of new

ideas and business processes.”

- www.investopedia.com

14-Nov-14The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

7

“the entrepreneur always

searches for change,

responds to it and exploits it

as an opportunity.”

- Peter Drucker, Cerebral Analyst

of Business Management .

“an entrepreneur is someone

who mixes passion, innovation,

and drive to turn a vision into a

working business”

- Jeet Banerjee – Tech Entrepreneur,

Founder of Statfuse.com

Terms to Note: Small, Risk, ideas, Business, Innovation, Passion , Vision, Persistence, Need

Page 8: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Who is an Entrepreneur ?

14-Nov-14The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

8

”Someone who envisions, creates and

evangelizes an idea that they are

absolutely crazy about. That idea makes

it easier for them to get up in the

morning, work ridiculous hours and keep

their brain buzzing. The entrepreneur can

work alone, within a company, or in a

group, but he/she gets itchy at the

thought of working a 9-5 hour job and

following the orders of anyone who isn’t

efficient and imaginative.”

- Manoush Zomordi , author, media consultant

”a person that orchestrates

through their own personal

gumption, initiative and

resources with a degree of

insanity, collectively towards

an effort to turn a business

concept into a business

reality”

- Luke Kupersmith Owner of Source

Consulting

”an innovative, risk taking individual

who identifies a need in a market and

finds a way to fill it, whether by using

his or her own expertise and passion,

the knowledge of others or a

combination of the three… someone

who sees an opportunity and invests

in it in order to turn a profit or provide

a solution to some larger issue in the

world”

- Andrew Schrage, Owner,

MoneyCrashers.com

Terms to Note: Initiative , Gumption, Imaginative, Expertise, opportunity , invest, profit , solution

Page 9: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

An Entrepreneur, my point of view

The person that passes more times than he or she fails in an enterprise.

The common entrepreneurial denominator;

14-Nov-14The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

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• Passion

• Drive

• Creativity

• Doggedness

• Vision

• Risk-taking

• Daringness

• Imagination

• Service to humanity

• Failure

• Success

• Faith

Page 10: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

My Entrepreneurial Journey

14-Nov-14The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

10

Set up

Chams

Nigeria

Limited

1985

MBA(Distinc

tion)

University of

Lagos

1983-1984

Novel

Poultry

Eggs

Distribution

1982-1985

Taxi Cab

Operation

1976 -1985

Federal

school of

Arts and

Science

1976-1978

Sports

Promotion

1974-1976

Photography

Coconut

candy

production &

marketing

1966-1972

Page 11: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Pioneered PC Maintenance

11

Chams Enterprise Trajectory

Pioneered e-payment

20 year Old start Up/ National ID

project

Pioneered and Achieved Successful

Identity/ Smart Card issuance

Commenced Researching Card

Technology

Pioneered Networking

2013

2006

1987

1996

1985

1992

1998

2005

Diversification, expansion for

shared risk

Focus – Identity management

and transaction systems

Page 12: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Chams PLC Landmarks

14-Nov-14

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• Set up the biggest ID Card personalization plant in the world in Abuja, Nigeria

• Produced the first successful National ID card and 70 million voters ID card for INEC in

90 days

• Guinness world record for setting up ChamsCity

• CBN Licenses - Mobile payment, ATMs, Prepaid Card, POS and Payment switching

• Executed the NCC Sim - card registration

• Executed major State ID and identity based transaction projects

• Private sector identity management projects

• Bank verification project

• Concessionaire on National ID project

The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Page 13: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Chams Envisioned Future

A company of Nigerian origin,

we will be extremely influential and highly

visible in global technology;

Our trusted cutting edge technology will

enhance the quality of life in a manner that

glorifies God.

We would be employer of first choice.

14-Nov-14The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

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Page 14: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Chams Entrepreneurial Roles and contribution

Employment

- 144 full time employees;

- 240 contract staff employed

on project basis

- Successful Chams Alumni

New Products

- Pioneered new technologies

Chams and Nigerian Economy

- State ID related projects - Osun,

Ogun, Plateau, Anambra

- INEC Voter’s card project

-

Chams and the Human mind,

Socio Political Development

- Chams theatre series

- Translation of Legacy literature

works from – Yoruba to English

by Prof. Wole Soyinka

- Volunteer Corp: Education

Development

14-Nov-14

The Entrepreneur As a Nation Builder. Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

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Page 15: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Could Chams have done better ? Yes!

Key drivers that would have aided a better output include:

Basic Science and Technology Training – Development of pool of resources

Increasing Knowledge base of 174.5m Nigerians

Clear operational, legal and regulatory structure

Basic Physical and technology Infrastructure

Strong and supportive financial system

14-Nov-14The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

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Page 16: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Quick Facts on Nigeria

Our Population - YOUTHXPLOSION!

Our GDP – Largest In Africa

Top 20global economy /Destination for FDI

Growing trade indices in key areas – Agriculture, Oil,

gas, Art, Manufacturing

, Infrastructure

Key Success Reference Points

- MTN

- Shoprite

- Multinationals now courting Nigeria

- Aliko Dangote

- Mrs Alakija (make hays whilst the sun shines)

16 The Massive Opportunity called Nigeria

Page 17: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Myths About Entrepreneurship

Entrepreneurs are born, not made

Anyone can start a business. Its just luck & guts

Entrepreneurs are Gamblers

Entrepreneurs want to run the show themselves

Entrepreneurs are their own bosses and are

completely independent

Entrepreneurs work harder and longer than

corporate managers do

Entrepreneurs face greater stress and more

pressures, pay higher personal price

Starting a business is risky

Money is the most important ingredient for success

New business start ups are for the young energetic

Entrepreneurs are motivated solely by their quest

for Naira

Entrepreneurs seek power and control over other

people

14-Nov-14

The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

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Page 18: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

8 key Factors to assist entrepreneurial start-ups

14-Nov-14

The Entrepreneur As a Nation Builder

Paper presented by

Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

18

Strong leadership

Partnership Management

Proof and clarity of innovative

concept

Business Planning and marketing

Tripple bottom line planning

Short and long term benefit

management

Risk Management

Community Engagement

Page 19: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Tips for a successful Enterprise

The unexpected – failure/success

The incongruity – Reality ‘As-Is’ versus Reality ‘Assumed’

Innovation based on process need

Changes in industry structure

Demographics changes and preferences

Changes in Perception – winning your customer

New Knowledge - innovative use of knowledge

14-Nov-14The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

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Page 20: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

More Tips for a Successful Enterprise

You don’t need money to start your enterprise

- Best businesses are ones started out of intellectual curiosity and prowess.

Notable examples - Microsoft, Apple, Facebook, Hewlett Packard , Chams

The GOD factor in business

- gift, vision and staying power comes from God

Notable example – the peculiar Chams Stories of failing forward

The Profit Question

- an enterprise that sets out to serve and meet human needs will always make profit.

14-Nov-14The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

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Page 21: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Role of Entrepreneurs in nation Building

Create new products and/or service businesses

Bring creative and innovative methods to developing or producing new

products or services

Provide employment opportunities and create new jobs

Help contribute to regional and national economic growth

Encourage create industrial efficiency/Productivity to enhance our

international competitiveness.

14-Nov-14The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

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Page 22: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Chams’ contribution to Nation Building

1985

1992/6:

1997

2006

2006

2007

2012

2013/4:

Pioneered Computer Hardware maintenance/ Networking

Pioneered e-payment in Nigeria and set up one of today’s leading provider of e-

payment services – UPSL

Pioneer plastic and smart card issuance for Nigeria

Delivered the first ever successful National ID cards

Delivered Nigeria first INEC permanent Voters’ Card, creating Nigeria largest voters

Database and employment for over 500 graduates

ChamsCity got Nigeria listed in the Guinness world record

Partnered with Osun and Anambra State in delivering ID related technologies to foster

growth, development and youth empowerment

Implementing the first large scale hamonised financial industry identification system in

the world with the BVN project

11/17/2014

22

Page 23: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Final Words

14-Nov-14The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

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• Dream big

• Plan! Act!! Strategize!!!

• Innovate to meet needs, transit and be ahead of time

• Failure is success camouflaged When you fail, fail forward - cut loss and move on

• Young entrepreneurs need mentors

• Stay hungry

• Stay focused

• Personal Vision

• ‘Faith in God and Service to Humanity’

Page 24: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Let It Be Said………………………

14-Nov-14The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

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Page 25: The Entrepreneur as a nation builder - Chams Plc · The Entrepreneur As a Nation Builder Paper presented by Sir Demola Aladekomo at the Joseph Ayo Babalola University, Ikeji-Arakeji

Thank You and

God Bless