Major and encompassing policy changes in the past year has opened a floodgate of opportunities for discerning entrepreneurs to tap into

A few articles past we reviewed the pockets of progress that resulted from the year 2005, improved funding for businesses owing to post bank consolidation, the likelihood of available financial experts, and more secure payment plans on the way by the dud-cheque bills that we believe will soon be passed.

Some strong cash generating venture sectors were identified. Oil and gas, banking, telecommunications, entertainment, logistics, supply chain management to mention a few. Support services in these sectors are strategic to their performance. Every sector is focusing on areas of competence and leaving non core functions to experts to handle. This will in turn allow the experts do what they do best and do it with economies of scale.

Oil and Gas

One of the changes that are to be implemented this year is the zero tolerance for non-local joint venture partners for oil contracts. According to analysts, there is a petrodollar flight in the strategic oil sector. Less than 10% of the over $8billion yearly spent benefits Nigerians.

The strategy to understand is that the government does not aim to create middlemen that add no value but to eliminate such that constitute the routes to some of the capital flight and desires that capacity is built, transfer of technology, skill and know-how take place. Building the nation with expertise is our number one source of foreign exchange.

Gaps of opportunity are usually created when guidelines or rules of an old game change, those who are true entrepreneurs know it is the time that some old players who will not change and thereby fall by the wayside, whereas, quick new players will have the opportunity to get in on the game. In 2005, the rules changed. Get in before the train moves as it is harder to get onto a moving train than one that has stopped or slowed down.

How would you identify such a gap or niche? In many cases, from studying significant business breakthroughs, it may come in the way of an old way of doing things with the twist of a novice to short cut the old ways, revolutionize the previous ways of doing things from the old way completely or even starting a new trend altogether.

Partnerships can be a very strong entry strategy into a new business sector, the ability to leverage the strengths of your partner and a unique contribution on your part that will proffer solutions to your partner’s challenges will be the key to success. It is a win-win situation and if managed carefully, not only will it improve your learning abilities; it will allow each partner to do what they do best and get positive results. Should the two qualities brought to the table be a match that cannot be replicated, this may be the quality or edge that makes the one in a lifetime entrepreneur we read about that are in partnership.

Logistics

Who will deliver the goods and services entrepreneurs, multinationals and such are producing for consumers? As the environment changes, modes of delivery. and expectations change and there are daily challenges of how these must be met. The bringing together of raw materials for industry are creating global challenges the world over, the distribution and management of finished products in storage and distribution to the consumers pose even more challenges. With a more integrated global world out there is an intense desire on the part of producers to meet these challenges and as they are met, there is even greater need to surpass the deliverable; consumer expectations are higher everyday and the need to cut cost are even more telling on the manufacturers. The new consumer wants more but is intolerant of paying more. The new entrepreneur must sit and put in place better, faster, cheaper and less complicated ways of delivering goods and services to their chosen sectors. The ability to develop a unique technique for delivering a service to a unique group that will make your service invaluable to the users of the service is the key to success.

Consultancy

Giving advice and providing counsel is the Webster definition for consulting. Thousands of companies and persons pay millions each year to consult for that advice. As a sector grows, consulting in the sector will grow as quickly or even more. Consulting is an expanding industry that offers incredible opportunities for those with the background and skills. The skills and backgrounds are the ability to be analytical or have problem-solving skills. The ability to be a good listener, a careful thinker with an organized mind that can proffer potential solutions. Many will make a living off this.

Many more new entrant businesses will be looked into in future editions. This is the time to make the move from small thinking to strategic thinking with results.