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OPINION: How small businesses can survive COVID-19 economy

Set forth now despite C19, seek opportunity in the pain points but avoid complacency, experts advise on midsize IMC journey.

Find the courage to set forth now, despite the ravages of Covid19, carve a niche, but avoid complacency as you make a mark as a midsize communication agency.

That is the counsel of the two communication experts headlining the Jacksonites Webinar on Communication Trends, on Sunday, 13 September, as they offered a sneak peek into what they will share with participants. Their counsel is for

 young and not-so-young persons in IMC thinking of entrepreneurship.

Charles Monwuba, Managing Director of Advalue Limited, asserts that “Starting up a medium-sized ad agency is a firewall against unemployment because of the vast opportunities therein. The features are low start-up cost, speed and power. Unstructured firms are looking for solutions to meet their tough targets. With your laptop and phone, you are off to a great start.”

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Mrs Olayemi Nwobodo, the Managing Consultant of Waien Communications Consult, said entrepreneurs and managers should focus on the pain points for the opportunities therein. “In the current economic climate which has been characterised by uncertainty even before the Coronavirus pandemic, it is important for business owners not to lose hope but rather realise they need to adapt to the changing times. This is important not only for small and medium scale outfits but also for clients who give them jobs and contracts.”

Mrs Nwobodo added, “A key takeaway from this seminar is that we must diversify our portfolio and learn to work smart. Those who focused on one line of business will find that that line seems to have dried up. But there are still needs to be met, problems requiring solving and where to make money. It means that we must be curious to know what pain people and businesses are going through, which ones we can solve and how we can make money doing so.”

Monwuba cautions against complacency as a factor in the Achilles Heel of entrepreneurs in the sector. “The pitfall to avoid is complacency. With a client, a small agency can pay its bills”. But watch it, he says.

Find out the average time a small agency can keep an account, what sectors are trending and profitable and where IMC firms can look towards for businesses in this era.

Drink from a deep and rich pool of knowledge and expertise distilled as wisdom at the Jacksonites Webinar On Communication Trends on the Zoom Platform on Sunday 13 September.

Previous speakers at the Jacksonites Webinar on Communication Trends have included Prof Pat Utomi of the Centre for Values in Leadership, Mr Ugo Onuoha, former managing director of Champion Newspapers Limited and Mr Mayor Ikoroha, a communications and leadership consultant. Others are Mr Nn’Emeka Madugbuna, Chairman of C7F Porter Novelli and Dr Marcel Mbamalu, Group News Editor of The Guardian.

The Jacksonites Alumni Association runs the webinar as part of its objective to lead the discourse on issues in communication as the first university department in West Africa to teach journalism to degree-level. Members are alumni of the Department of Mass Communication of the University of Nigeria, Nsukka.

Media partners of the Jacksonites Webinar on Communication Trends are http://thenewsguru.com, http://The Nigerian Express, http://crediblenews.com and http://theindexng.com .