Finding Opportunity in Chaos

How can you take advantage of the economic hardships we are facing today?

Nairobi, is the capital and largest city in Kenya. Its government has been dedicating exponential resources over the past few years to increasing technological literacy. Their hope has been to boost their economy and provide greater opportunities for citizens.

In 2014, a young man by the name of Jomo, was fired from his job. Left with a bitter taste in his mouth, and the strongest desire to never be fired again, he was determined to make a change.

Jomo knew that the only way he could do this was to become his own boss. Yet, having no experience in starting or running a company, he didn’t know how to get started or if it was even possible.

He also knew that it would take a lot of hard work, and he would need as much help as he could get. Jomo decided to be one of the pioneers and first sellers to join the Jumia Marketplace.

With technological literacy at its lowest, the success of this leap of faith was not set in stone.

His decision was based on the efforts he saw being made all around him. His government was pushing for technological literacy. E-commerce was taking off all around the world. People were creating jobs for themselves. Selling products online. Exporting services to other countries. It all seemed unreal.

He knew that it would not be long before the people in Kenya saw this too.

Today, Jomo owns an online business with 10 employees, and his dream of being a successful business owner is no longer a dream. It’s his reality.

But how?

Looking for opportunities in emerging technology and markets

Jomo saw that the African community, although not the most tech savvy community, was recognizing the shift that was happening all over the world. The economy was getting ready for the e-commerce wind that was sweeping across all nations.

By being diligent, having a goal in mind, and learning the skills needed to ensure his business succeeded, Jomo was able to take advantage of the benefits that came along with an online marketplace.

What does this have to do with me?

Belize is ready for the shift in technology

Today, Belize is also in a place, recognizing the need to develop a strong online ecosystem. After the covid 19 pandemic struck, we really saw the need for online ecosystems that allow business to continue even when we can’t leave our homes.

The problem was that we didn’t have the proper online ecosystems put in place when this all happened. So being the resourceful population that we are, we weren’t gonna just sit there with our hands crossed and hungry.

Instead, we resorted to social media to sell our products, our services and get the word out.

Unfortunately, many scams and wretched stories also came along with the successes we experienced. But it also told our financial systems, our government, and savvy entrepreneurs around the country that we needed a better way.

Today, our banks are finally joining the online payment campaign. Our delivery systems are becoming more widespread and available.

People are starting to see the need for trusted and transparent payment methods. We are tired of scams. And while the old way of doing things has been working “well enough,” it really is just not good enough.

We can do so much better.

But who are the people that will benefit from this shift?

How to take advantage of this change

I ask myself this question a lot. Because it always seems like the rich get to benefit from every change in society.

Yet, history has shown us that in times like these, during these shifts and challenging economic times, another group of people can benefit.

Early adopters!

Yes. People willing to step out of their comfort zones and become trendsetters instead of trend followers will have a head start. They will have more time to fine tune their products, services and offers. They will have more time to learn, and make mistakes.

These are the people who will have a lot more time to figure things out as more and more people move towards this new online way of conducting business.

The challenge:

This week's challenge takes you back to the brainstorming table. Create a mind map of ideas on how you can take advantage of this wave that is coming. Evaluate your skills, decide if you want to be one of the innovators in this new industry.

Then make a plan that will help you to be one of the Jomos of Belize.

Marketplaces disrupt economies. Online systems disrupt economies. Technology disrupts economies. Are you going to be a trendsetter or a follower?