A FIDSON HEALTHCARE BUSINESS SECRET REVEALED BY PROPHET ISAIAH
Fidson healthcare is deploying a secret strategy that has been keeping them ahead of the pack in the pharmaceutical industry. I believe that its a secret a lot of other struggling companies in the industry are missing and that single secret has been pushing fidson healthcare forward. This secret can been found in what Isaiah shared about a River and moat in the bible and its a secret ancient Kingdoms used to defeat their enemies.
Have you ever wondered why FIDSON Healthcare products are so expensive while products from other companies are very cheap yet Fidson healthcare is selling much more than they? It because of this principle I want to share.
In the book of Isaiah, the prophet talks about a cutting off of a the river and make the moat dry. The bible is trying to tell us that every castle is protected the most by the moat around it which is made up of very muddy soil kept soft by a slow supply of water. Anyone who steps into that mud is buried alive by the very deep soft mud. That way the castle is protected from invaders.
Most invaders will try to lay a bridge across the moat to invade the castle but almost all of them will fail.
However, I believe that after listening to Isaiah, King Cyrus of Persia when he wanted to conquer ancient Babylon, deployed a strategy that helped him conquer the might city of Babylonia.
King Cyrus knew that the moat around Babylon was fed by the Euphrates river which was a very mighty river. Rather than try to cross the moat surrounding the City, Cyrus went a long distance away from the City and had his engineers divert the flow of the river away from the city. Because the City of Babylon was in a desert, it did not take long for the moat to dry up and become baked path that chariots could ride across.
This meant that though Babylon was protected by a mighty moat, it had only one river feeding the moat. Great companies like Fidson healthcare have picked up lessons from this.
In business, the moat of a business is called its competitive advantage or barrier to entry. These are things companies do to keep other companies away from taking their market share.
For a company like Fidson healthcare, its competitive advantage is its brand name. People trust the brand name and will pay a premium for their products. But the River keeping Fidson healthcare at the top are its cashcow products like CIPROTAB that have established themselves as number one in the market. But Fidson healthcare learnt a lesson that is keeping them safe for now. They have more than one river feeding their moat and keeping it moist.
Almost on a yearly basis, Fidson healthcare is bringing in new drug molecules that are coming into Nigeria for the first time. Because they have new molecules they are trying out, they establish newer cash cows faster and by the time other companies start bringing in similar products, they have moved on.
The mistake a lot of pharmacies make is that they look at their big moat and think their businesses are safe because they have a loyal customer base without realising that a younger pharmacist can come up with something innovative and knock them out.
France made such strategic mistake during the beginning of the 2nd world war. At the beginning of the was, the French knew where the Germans invaded them from during the 1st world war and built a massive wall of bumps that will keep any German machine from crossing and this was called the Manigot line. But by the time the German army was inside France, the soldiers at the crossing did not know that the Germans have crossed.
The Germans left the moat which was the barrier and cut off the river by flying fast rapid deploying troops over the Manigot line.
My question is do you know the rivers feeding your moat? If your moat as a retail pharmacist is that the law prohibits none pharmacists from opening retail pharmacy, what if the law is changed and the law about 200m is abolished? Do not be deceived by the moat around your business no matter how solid or effective it might look. Fidson healthcare is directing more rivers to its moat with newer molecules and this is keeping it safe for now.
Start on time to look for more rivers to feed your moat. Nokia thought it had a great moat in the telephone handset market where it controlled 60% of the phone market. But Apple cut off its river by combining a laptop and a phone together to come up with a smart phone and an ipad. Today, nokia as a phone company is dead, with the carcass bought over by Microsoft.
I think every company must start to worry whenever it people begins to think they are the market leader. At that point, someone is leaving the moat of market leadership to you and going after your river that will lead you to redundancy. Look at what happened to companies like Parker Davies in Nigeria and that will make you do something because fidson healthcare is doing something.