The Groundnut Seller and the Growth Equation

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A Story From the Streets of Nigeria

Years ago, a close friend shared a story from his childhood that has stayed with me ever since.

He grew up in a small town in Nigeria, where every holiday was an opportunity to hustle, not out of greed, but grit.

One year, he decided to sell roasted, ground nuts.

He saved up, bought a small tray, and positioned himself at a busy junction where the smell of roasted groundnuts met the afternoon heat.

At first, sales were steady.

Familiar faces would stop by, curious that “the young boy” had started his own trade.

He earned enough to buy himself a pair of sandals he had been eyeing for months.

But by the second week, something changed.

His regular customers had already bought from him, and new ones weren’t appearing.

He’d hit a ceiling.

He tried shouting louder, smiling more, even giving free samples, but nothing worked.

Then one day, while sitting under a tree, he noticed another group of boys walking past.

They weren’t selling groundnuts.

They were selling “puff-puff”.

And business was booming for them.

That afternoon, he realised what many leaders take years to understand: doing more of the same can’t always get you to the next level.

Growth requires strategy.

Years later, when I was sitting in a strategy lecture during my MBA and the professor introduced the Ansoff Matrix, my mind went straight back to my friend’s story.

He had unknowingly lived out one of the most powerful growth frameworks ever taught in business schools.

The Ansoff Matrix: Four Paths to Growth

Created by Igor Ansoff, this matrix simplifies growth into four clear strategic options, all based on two questions:

Are you selling something existing or new?

Are you serving your current market or a new one?

From these two dimensions emerge four paths:

1. Market Penetration – Selling More to the Same Customers

   My friend tried this instinctively. He offered the same product to the same market, hoping effort alone would boost sales.

   Many organisations do this. They intensify marketing or lower prices, trying to extract more from the same audience.

   It’s the safest option, but it’s also the easiest to reach a plateau.

2. Product Development – Creating New Value for Current Customers

   He could have added something new. Something like bottled water, sachet drinks, or peanuts with sugar glaze.

   This is where leaders start to innovate around customer experience. You’re not just meeting a need. You’re anticipating it.

3. Market Development – Taking What Works to New Places

   Imagine if he walked to the bus park or the school gate nearby: same product, new location, new audience.

   Organisations use this when they expand into new regions, demographics, or online markets.

4. Diversification – New Product, New Market

   The boys selling puff-puff exemplified this bold move.

   High risk, but also the path of transformation. It’s what happens when a hospital develops a digital health platform, or a consultancy ventures into leadership training.

Each quadrant presents a choice, and great leaders make their choices deliberately.

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The Leadership Connection

As a leader, you might not be standing by a roadside tray, but you’re probably facing the same question:

What do I do when something that used to work no longer functions as expected?

The answer isn’t always to work harder but to work more wisely.

The Ansoff Matrix helps you broaden your perspective and ask, “Where is growth really hiding?”

When I coach healthcare organisations or executives, this is often the pivotal moment, when leaders stop reacting to stagnation and start designing their next growth move with clarity.

Visit my Website.

Leadership Reflection: The Groundnut Test

This week, I want you to spend 15 minutes reflecting:

1. What’s your version of “groundnuts”? The product, idea, or habit that’s served you well but might now be holding back your growth.

2. Are you playing it safe with market penetration when your season calls for diversification?

3. What would “selling puff-puff” look like for you or your team this quarter?

Remember, growth isn’t always about doing more.

Sometimes, it’s about doing things differently.

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Ikechukwu’s Journal

If you enjoyed this week’s Leadership Pulse, all previous editions are available on Beehiiv, along with bonus insights, frameworks, and templates that you can apply immediately.

As you lead this week, remember:

You don’t always have to win the fight.

Sometimes, you can change the arena.

That’s how transformation begins, not in the noise of rivalry, but in the calm of clarity.

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Ikechukwu Okoh

Author of the Leadership Pulse

Exclusive Section for Paid Subscribers: Applying the Matrix in Your Organisation

In this week’s premium subscriber-only reflection, I break down:

The Leadership Framework: Mapping your department or business unit into the four quadrants and identifying where your next growth lever lies.

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