The Power of Social Capital
The power and importance of social capital was highlighted last week in Asaba when Anambra state born billionaire and the chairman of Ejison group, Chief J.I. Ejison recently diversified into night club/hospitality business with a powerful collaboration with Nigeria’s night club master, Cubana Chief Priest.
Chief Ejison has the money to invest in the business but does not have the social capital to drive the growth of the night club business. The reason is simple, he is a self effacing billionaire and not many people know who he is. The man is not a social media person, in fact he is not even on Instagram.
Cubana Chief Priest on the other hand who was already Ejison’s ambassador for bullet energy drink and is doing a good job promoting the energy drink was tapped to be the face of the new club in Asaba.
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The Business Model
The business model was simple. Cubana Chief Priest will be the face of the club. He will drive the growth and attract major celebrities with the money to spend to the new club with his social media power. And for Chief Ejison he will fund the business from start to finish.
The reason was simple: Chief Priest has the social capital to drive the night club business which Ejison do not have.
At the official launch of the club in Asaba Davido and Tiwa Savage flew from Lagos as special guest artistes. There were many other artistes and celebrities on ground. Who attracted all these people? Cubana Chief Priest and his brand power.
Chief priest has been doing his job, making noise on Instagram even before the opening of the club. And as expected, night life revelers have been keeping the club busy because of Chief Priest’ effort and his massive social capital.
Result Settles Argument
Chukwudi Iwuchukwu on his Facebook post on this matter had reported that some of his friends went to the newly opened Club xshrine in Asaba few nights ago and did not see space to park, talk more of hanging out with the friends that he came with. The whole place was filled to the brim – that tells you the story of what Chief Priest can do.
Only Cubana Chief Priest has the clout and the social media capital to pull off this kind of feat. Of course he is the acclaimed Celebrity Barman and probably the number in the industry today .
Chief Ejison on the other hand with all his money cannot attract that kind of crowd to the night club. He cannot do it within a space of days as Cubana Chief Priest did. In fact he is not likely to achieve that feat even in the next two years.
Have you read about HOW DANGOTE STARTED?
Lesson for Entrepreneurs
For you to experience the exponential and parabolic growth you wish to see at the end of this year, please learn what is called partnership. More often than not, you can’t do it alone. I have been telling all those that care to listen that partnership will be a quick accelerator for success in 2022.
It was Socrates that said “A life not examined is not worth living”. So in 2022, access and measure your area of strength. There are some things you are very good at and you can even do for free. Sadly there are some areas you have flaws and this is true for everyone of us. For such areas, look for someone that compliments you and then outsource/ partner with the person.
This will save you a lot of stress next year and you will make a lot of money as well by doing this.
You are good in managing a business but not good in networking. Fine, seek out for an extrovert or a social butterfly as it were. Once the values align, partner with him/ her to launch the new business next year.
What you are doing is simple.You are leveraging on the strength of your partner to drive your growth. And by so doing you grow wealth for yourself, just as Oga Ejison has done.
By God’s grace, we will make a lot of money this new year. I believe that all our wishes and desires shall come to pass only if we are intentional about how we live our life this year. And that will include being open to partnership and collaboration with the right people.
This for me is very important!
Do you know that COSCHARIS STARTED HIS COMPANY WITH 200 NAIRA? READ ABOUT IT HERE