The epiphany I had in the early hours of 22 August, 2014, led to the creation of Wire 2.0 Enterprises and the Wire online platform, though not in its present incarnation.
As I’ve written in my previous articles, Wire 2.0 Enterprises and in particular its online platform were established based on pragmatic economic considerations. What I didn’t highlight however, were the specific assumptive tools I employed.
Basically, the decision to launch the Wire platform was made using two techniques:
1. Bedrock analysis.
2. Trend analysis.
According to the Nigerian Bureau of Statistics, 62.5 percent of Nigeria’s population are under 25 years. Of course, population structure is only one of the bedrock factors, and that was what I applied.
This fact has implications for the future of Wire 2.0 Enterprises as an errand/concierge service, and raises serious questions like: “What will this group consider value in the errand/concierge service industry?” “How will they buy the industry’s services?” “From where will they source workers?” and so forth.
One of the decisions to create the platform was based on the events which are likely to have impact upon future economic conditions but which have already happened. Instead of forecasting the future, I focused on past events which have not fully expressed themselves economically—the emerging market for youth errand/concierge service.
By 30 June, 2015, Nigeria ranked seventh in the Top 20 Countries with Highest Numbers of Internet Users according to a Report by Internet World Statistics. The Report stated that approximately 93 million of the 181.5 million citizens of the country had access to the internet which represented 51 percent of her population.
Applying trend analysis, I focused on the socioeconomic phenomena—the use of internet by the largest segment of Nigeria’s population—which has a long-term trend that won’t change quickly.
I discovered that the adoption of internet technology by the vast majority of Nigeria’s 114 million youth population (commonly referred to as “Millennials”) had widespread ramifications for the errand/concierge service industry. Specifically, this trend is altering the structure of the industry. And in response to my findings, I created a website—www.wire.com.ng—which is an online platform for Wire 2.0 Enterprises.
The website is an online community marketplace for businesses and people especially Millennials to outsource tasks, find local service, and hire temporary and flexible staff. The platform makes it easy for clients to connect with verified partners who run on-demand errands and complete tasks.
In conclusion, the application of a combination of bedrock and trend analytical tools have enabled me attempt to provide a solution to the problems that have been forged by the emerging consumption habits of Nigeria’s youth population driven by the adoption of internet technology.
It is my believe that in the long-term, say 5–15 years; the Wire platform will be a veritable tool providing answers to the socioeconomic questions arising from the incipient errand/concierge service needs of this group.
‘Rotimi MUDE is the founder and promoter of Magenta Aura Laundry and also a regular contributor on www.malaundry.com/blog