For Young Nigerian Entrepreneurs: My Take On Alibaba.com Single Sales!!!

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Guys, I would like us to read and think about this.

I just had to quickly script this thought down because I have been really thinking about this.

I may be wrong in my comparative thinking, but hey, my mind is spinning right now, so pardon my extrapolation.

Today is 11/11 and it is also known as the Single’s Day Sales created by a Chinese company known as Alibaba.com.

It is a special day in China where Alibaba.com founded by Jack Ma gives out products to customers at a discount.

Now, please hear this…

In just 2 minutes today, they made sales of over $2 billion!

I said… 2 minutes!

And in 15 minutes, that figure rose to $5 billion.

As at the time of writing this post, I heard they have crossed the $18 billion mark – a world record.

That’s like over half of Nigeria’s foreign reserves as a nation.

Our Foreign Reserves as at today is about $32.7 billion.

Okay, let me put this in proper Nigerian perspective so you understand what this means.

The $18 billion in sales by Alibaba.com if converted to Naira is valued at over N6.4 Trillion.

The entire Nigerian Budget for the whole year 2017 is pegged at N7.3 trillion.

While Alibaba.com’s sales for less than a day is at N6.4 Trillion.

Breakdown:

– Entire 1 year budget (Nigeria) = N7.3 Trillion

– Less than a day (Alibaba.com) = N6.4 Trillion.

So with this figure, we can maybe argue that with what Alibaba.com has made today in revenue, they can comfortably finance the entire country called Nigeria for a whole year from their revenue for a day.

🙆‍♂🙆‍♂🙆‍♂🙆‍♂

Fadalawd!!!!

When I heard this news, I was weak!

Guys, I would like to point you to this case study and then ask us a simple but fundamental question.

As we all step into 2018, how big is our vision going to be?

What size of game are we preparing ourselves to play come 2018?

Are we going to be stuck in mediocrity or are we going to push to greatness?

News like that of Alibaba.com’s should remind us that much more is possible in this life.

So let’s think.

The world is waiting…. and 2018 is only few blocks away.

Written by Chinonso Ogbogu


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