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Friday, October 14, 2016

UNSUNG vs SAMSUNG

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Matan Mwanmin,

How has been the month so far? I have not come to you recently but I am glad to sharing my thoughts with you today. I have come to you saying ‘Hello’ in Kulere language of Bokkos local government of Plateau State, Nigeria.

Many of us have the mind-set of becoming entrepreneurs later in life. However, we are either not prepared for the challenges ahead as such, we chicken out over time seeking solace in paid employment. As such, the age long quote has not lost its relevance, ‘If you don’t build your dream, someone will hire you to build theirs.’ Our dreams would either be unsung or sung.

An unsung business is the business that has a lot of intricacies that is jealously guided by the person who owned or discovered the idea. Such businesses are highly specialised and people are not taught how to do it not to talk of modernising the vision. In another vein, an unsung business is a business where the entrepreneur does not have the tenacity to wait till he break-even or breakthrough.

A sung business is Samsung. This is a business that started in 1938 in South Korea as a Grocery store. By 1940, it switched to the production of noodles, by 1950, it started Sugar Production, and by 1954, the company went into woollen mill cum
started selling insurance and security. In 1960, they started producing TV, in 1980, the company went into production of telephone switch board. Samsung died in 1987 and the company broke into four independent businesses- departmental stores, chemicals & logistics, paper & telecoms and electronics. In 1990, it delved into real estate, in 1993, the company was restructured and they went into production of memory chips. In 1995, they switched to liquid-crystal displays and they have been the world’s largest manufacturer of flat screen TV. In 2010, Samsung focussed on the production of smartphones. In 2016, they have outsold iPhone. Samsung has undergone many metamorphoses but they retained their brand name.

This is a journey of tenacity. One of the things that we lack around use here is the ability to bequeath your business unto your children who should modernise it with their level of exposure and education. I am not saying that children should be forced into a particular line of career but parents should know how to make children- buy into, invest in and develop their businesses.

Before you become sung, you would have sworn to maintain your dream and vision. There would be time for modification of your idea, restructuring of the dream and many more.

Keep building your dreams regardless of the hurdles.

Have a great weekend.

Cheers!


Olutayo
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