Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,150,290 members, 7,807,984 topics. Date: Thursday, 25 April 2024 at 01:23 AM

Lifecycle Thinking In Life And Business - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Lifecycle Thinking In Life And Business (425 Views)

Biggest Amount Of Money You Have Ever Lost In Life And Lessons Learnt From It / The Business Lifecycle And How To Win At Each Phase / Nairaland Owner SEUN OSEWA Full Biography,life And Net Worth (2) (3) (4)

(1) (Reply)

Lifecycle Thinking In Life And Business by anonymousey: 11:53am On Apr 21, 2017
Many times in trying to solve a problem, answer a question or design a product, service or business, I like to think a particular way that has helped me to arrange my thoughts better. I call it Lifecycle Thinking.

A butterfly starts its life as an egg then larva, pupa and finally becomes an adult butterfly. There’s a process involved. Things don’t just happen. One thing leads to the other.

Let’s put this into real life situations.

I spoke to a friend a while ago about starting a business. He grew up near a farming community and still had contacts there so I asked if there are things we buy in the city that they produce there so we can buy, transport, sell and then split the profit. It sounded like a good idea, at least for a while. The problem was that suddenly there was scarcity of this commodity and the unit cost became more than we could afford at the time. So I began to ask questions.

Q: Where do we buy palm oil from?
A: The market
Q: Where do the market sellers buy from?
A: From people bring from the village
Q: Where do these ones get it from?
A: They buy from farmers and then take it to the oil mill to be refined

So why don’t we do the same? Why don’t we buy from farmers, refine and then take it straight to the city for sale thereby cutting out all these middlemen, reducing the cost of purchasing and maximizing profit.
He had been aware of the process but never thought about it this way.

Farmer-Miller-Middleman-Market seller-US-City Market sellers-City dwellers
Became:
Farmer-US-Miller-US-Market Sellers-City dwellers

This thinking can be used to solve many other problems.

What do you think?

Suggest a problem and let’s attempt to solve it using lifecycle thinking.

(1) (Reply)

Hurry Grab This Opportunity Now / What Are The Requirements For One Who Wants To Travel Abroad / Make Money With Ease,only For The Go-getters.

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 7
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.