Okosi Highlights Entrepreneurial Opportunities for Young Entertainers
THE Senior Vice President/Managing Director, Viacom International Media Networks Africa, Alex Okosi has advised fledgling entrepreneurs in the entertainment sector to develop sound business plans that articulates business sustenance as a means of taking their business to the next level.
Okosi, who stated this while speaking on the Fidelity SME programme, a radio programme sponsored by Fidelity Bank Plc, noted that it is very difficult for businesses to survive after the first three years because of poor business plan.
To this end, he stressed that being able to create a sound plan flexible enough to adapt to the changing environment and which details funding modalities for the business are very essential.
“A lot of people borrow money from friends and families to start business, with those friends and families expecting unrealistic returns. So being able to structure your business to enable you raise money from sound institutions like banks, they are going to ask you basic questions on business sustenance and growth.
“There is no way to run a successful business as one man. I mean the success of our multi-platform brand today is based on the people that we have, their talents, being able to empower and trust them and being able to have systems,” Okosi explained.
Furthermore, for an aspiring or emerging entrepreneur that wants to enter the entertainment space, he identified content as the biggest opportunity, adding that there are lots of platforms that are emerging.
“Beyond the television screen, there are online opportunities for you to do your feeds and there are other opportunities. I think we are now really passionate about the Nigerian content and Nigerians want to see themselves now more than ever before. So we should be able to create that content beyond just television; creating what can add value, something that actually underlines the story because as a country, we love story.
“That is why an area such as Nollywood has exploded. So I think content is an important space. But there is also optimism in terms of the infrastructure aspect of it. Nigeria is going to go through digital migration on the television side and that is going to create opportunity for a lot more channels to come alive on the television side. So, there is just a plethora opportunities to look at. So if you have a sound business plan and understand what it takes, there are lots of opportunities to look at,” he added.
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