By ‘Femi Asu
Yesterday, 10 Degrees Point Event Centre, Oregun, was filled as participants converged on it for the Cultural Innovation Conference, the 10th edition of The Platform organised by Pastor Poju Oyemade of the Covenant Christian Centre.
Speaking at the event , Mr. Leke Alder, the Founder and Principal of Alder Consulting, dwelt on “Modern Biology; Future Chemistry”, focusing on the fundamental of business ideas.
He said: “Ideas are huge commodities; they rule the world. Capitalism, communism, democracy are all ideas. Money itself is an idea.”
He added: “We should never take ideas for granted; we must value ideas. An idea can make you a millionaire. All you need is just one unique insight…If you don’t run with what you have, you jeopardize your future.
“Knowledge has commercial value…there are people who have wonderful ideas, but those ideas are not taking off. An idea has an inherent growth capacity. An idea is programmed to grow, to expand and to bear fruits.”
He, however, said that a good idea does not guarantee success, adding that the success of an idea will be determined by 3 things; “the soundness of the idea, the chemical or mental processing of the idea in your brain and your biological adaptation into the idea.
“If the business idea is not sound, the implementation plan will be that of an unsound idea… How sound or sensible is the idea you have? Is it marketable?Who is going to buy it? Can a buyer afford to pay? You need to base your projection on those who are able and willing to pay. Are there enough buyers out there for your ideas. Do you have answers to potential problems. Every idea has problems.”
Mr Alder said: “Investors don’t invest in ideas; they invest in people. You can always tell when someone has done proper homework.
“There’s a difference between an idea and an idea about an idea. Some people think they have an idea, but what they actually have is an idea about an idea – that’s a notion. Ideas are constantly seeking for hosts, but they don’t go to everybody. They go to people who are hungry, people who want to make a difference, people who want to solve problems, those who want to meet needs.
“Some people have an idea, but they just shrug it off – they miss their opportunity for greatness. Ideas potentiate you for greatness. Once you commit to an idea, it turns itself into a ‘parasite’ – an interesting one by the way. Once you become a believer in the idea, every difficult encountered facilitates your faith.”
He added: “Wealth is created by an idea. Every idea has implementation problem. Only those who persevere reap the benefits and the rewards. When an idea present you with challenges, it is your opportunity for creativity and innovation.”
Speaking about the chemistry of ideas, Mr. Alder said it is about ‘how’: how are you going to make the idea work? It’s a question that will make your brain sweat… Some people don’t want to think. They are not physically lazy, they are intellectually lazy. They want to take short cuts. Thinking through is the proof of your desire to succeed. You must be focused in creating a logic for your idea.”
He mentioned 5 important questions to ask: “What, how, who, where and when?” He said that the most important was ‘what’. “What is your idea? It is fundamental. The problem a lot of people have is that they cannot define their ideas in plain English. You must be able to describe your idea in a concise and precise manner.
“Your business idea must have inherent growth prospects. If you can’t see growth prospect in your idea, you have a funny idea.”
He urged participants to learn to break associations that are not good for them, saying there are networks that can trap them down.
He said: “If you are working on an idea and you are still sleeping for 8 to 10 hours, you are not working on an idea. You can’t love sleep as an idea person. A business idea must grow on the inside of someone if it’s going to grow on the outside. There is a price to pay.
He enumerated the qualities of entrepreneurs: “They take risks; they demand efficiency; they actively seek and recognize opportunities; they are persistent and not easily deterred; they take their obligations seriously; they set clear and specific goals; they actively seek and gather relevant information; they network and are able to work without supervision.
“You need to be widely read; you need to be exposed. Your mind must be open or else you won’t succeed.”
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