59 Views

10 Powerful Tips on Succeeding as a Nigerian Entrepreneur

So you really want to quit your whatever you are doing now and startup your own (online) business?  Your very own Nigerian startup. But do you have any idea what it takes to be an entrepreneur, especially in such a peculiar environment? Here are 10 gems of wisdom — from the horse’s mouth — to guide you through the journey:

First of all, what is your motivation?

supermart-founder-raphael

You have to do it for the right reasons because it’s not as glamorous as people think. Be ready to have a lot of sleepless nights. It’s a lot of hard work but if you do it for the right reasons, if you believe that the end result is making society a better place for everybody then of course you can find the strength within to sustain you — Raphael Afaedor, Co-founder Supermart.

Have you paid your dues?

olumide-olusanya

You need to be prepared. Working in an existing venture, especially in Nigeria where there is no robust ecosystem like in Silicon Valley, is the best opportunity you have to absorb what entrepreneurship really is. Even better if you could be one of the foundation staff so you can see things first hand — Olumide Olusanya, Founder/CEO Gloo.ng.

Are you in the right market?

mark-essien

When you are in the right market, you will survive, because the market is always big enough to keep you alive. Market is everything. Pick the right market. If you are in a bad market, nothing will save you — Mark Essien, Founder/CEO Hotels.ng.

So you finally made up your mind? Take the leap.

modupe-macaulay

If you wait for things to be perfect, you’re never going to do anything because there’s never really going to be the perfect time. You don’t have to start at the scale you want. Like startup people say, “done is better than perfect”, so just do it. — Modupe Macualay, Founder Capital Square.

But always remember, you cannot do it alone.

budgit (61 of 99)

Do not see your idea as a single entity that needs no help. Well, unless you are a fast growing disruptor trying to bring down an entire establishment. But most of the time what we are trying to do is more incremental. So why not partner with those who have been doing it before you?  Why not leverage on their strengths to build a larger space? — Seun Onigbinde, Founder/CEO BudgIT.

However, be very selective.

ace18

You don’t go to win a World Cup without the best striker, best midfielder, best defenders and best Keeper. Whenever you are starting any venture truly ask yourself, whether in tech or not in tech, ask yourself, do I have the experts around me to make this a success? —Tunde Kehinde, Co-founder ACE.

And let’s be honest — it’s all about the money.

printivo (79 of 122)

From day one of your business, think of how you are going to get revenue. The best person that can keep your business afloat is your customer. Nigerian startups focus too much on investors’ money. Then months after the Startup is dead. Why? Because there are no customers to pay. If you focus on customers from day one, you will stay in business till investors eventually come — Oluyomi Ojo, Co-founder/CEO Printivo.

Speaking of waiting till investors come.

irokos-jason-njoku-signature-pose

Most people abandon ideas too early. I think that’s a very dangerous thing. These things take time. The worst entrepreneurs I hear of are people who say, “I’m going to try this thing for 6 months, if doesn’t work, I’ll do something else. Sometimes you literally can spend 2 years doing something that doesn’t appear like it makes sense– Jason Njoku, Co-founder/CEO iROKO.

Reach out.

dele10

Nothing that happens to you is actually new – it’s all old things happening to new people. You just have to identify the people that will help you out when facing them — Dele Odufuye, Founder/CEO Tsaboin.

Finally, embrace failure.

simeon-ononobi

Fail as much as you want. Don’t be afraid of failure. Stay focused on what your dreams are. But if it’s not working stop and change what you’re doing. Don’t get stuck and lose everything – Simeon Ononobi, Founder/CEO Simplepay.

Get the best viral stories straight into your inbox!

Don't worry, we don't spam

Leave a Comment

Your email address will not be published.

Latest Posts

FIFA Ranking: Nigerians React As FIFA Dropped Super Eagles By 9 Places
Sports
82 views
Sports
82 views

FIFA Ranking: Nigerians React As FIFA Dropped Super Eagles By 9 Places

PH - November 23, 2017

Nigerians are complaining about the drop of Super Eagles team in the latest FIFA ranking in spite of the sterling performance in the World Cup qualifiers and…

Governor Okorocha’s Aide Reveals The Cost Of The Controversial 8 Statues In Imo (Photo)
Politics
66 views
Politics
66 views

Governor Okorocha’s Aide Reveals The Cost Of The Controversial 8 Statues In Imo (Photo)

MT - November 23, 2017

N500,000 was spent on statue, says Governor Okorocha’s aide Special Assistant to Imo State Governor on Electronic Media, Dr. Ebere Nzeworji, has disclosed that the governor approved…

Watch Davido’s Daughter, Imade, Dance To his Song ‘FIA’
Entertainment
88 views
Entertainment
88 views

Watch Davido’s Daughter, Imade, Dance To his Song ‘FIA’

PH - November 23, 2017

Imade is Davido's first child! Her mother, Sophia Momodu shared this video of their little girl grooving to his new song, 'FIA'. Watch below. https://www.instagram.com/p/Bb1LcZOjSEX/  

Speaker of the House of Reps, Yakubu Dogara, Meets Pope Francis
Politics
76 views
Politics
76 views

Speaker of the House of Reps, Yakubu Dogara, Meets Pope Francis

PH - November 23, 2017

Speaker of the House of Representatives, Yakubu Dogara, is currently in Rome. He met with Pope Francis today, November 23rd. According to Dogara, Pope Francis is well…

Video From the Flamboyant Wedding of Bilyaminu Bello to His Wife Who Recently Stabbed Him to Death
Shocking
103 views
Shocking
103 views

Video From the Flamboyant Wedding of Bilyaminu Bello to His Wife Who Recently Stabbed Him to Death

PH - November 23, 2017

A lady alleged that while the deceased was still married to his first wife, Fakhriyya, Maryam Sanda who was the side chic, used to send her pictures…

Going Solo Could Be A Blessing In Disguise – Mr P
Entertainment
67 views
Entertainment
67 views

Going Solo Could Be A Blessing In Disguise – Mr P

PH - November 23, 2017

Peter Okoye, a.k.a Mr P, sat for an interview with Inspiration 92.3 FM to discuss going solo. Mr P sat through the lunch hour, telling his story of…

Nollywood Star, Jim Iyke, Unveils New Reality TV Show “The Adventurer”
Entertainment
79 views
Entertainment
79 views

Nollywood Star, Jim Iyke, Unveils New Reality TV Show “The Adventurer”

PH - November 23, 2017

Nollywood star, Jim Iyke, is bringing a fresh reality TV show to our screens. The show titled ‘The Adventurer” is set to bring a new perspective to both…

Ushbebe And Wife Annette Celebrate 4th Wedding Anniversary
Entertainment
62 views
Entertainment
62 views

Ushbebe And Wife Annette Celebrate 4th Wedding Anniversary

PH - November 23, 2017

Comedian Ushbebe and his wife Annette are celebrating their 4th wedding anniversary today. The comedian shared new photos of them on his Instagram page, accompanied with sweet words, where he wrote: It’s…

I Pray For Everyone Not To Experience What I Experienced – Mr 2Kay
Entertainment
77 views
Entertainment
77 views

I Pray For Everyone Not To Experience What I Experienced – Mr 2Kay

PH - November 23, 2017

Mr 2Kay, in an interview with HipTV, has said he’s praying no one experiences what he experienced during his recent robbery at Eko Hotel & Suites. The singer…

Police Explain Why It’s Difficult to Detain Wife Who Allegedly Stabbed PDP Ex-Chairman’s Son to Death
Shocking
109 views
Shocking
109 views

Police Explain Why It’s Difficult to Detain Wife Who Allegedly Stabbed PDP Ex-Chairman’s Son to Death

PH - November 23, 2017

The police has said they are finding it difficult to remand Maryam Sanda, the wife who stabbed to death her husband Bilyamin Bello, the son of former People’s Democratic Party chairman Haliru Bello.…

How Nigeria Lost $9bn to illegal Mining in 2 Years
Business
64 views
Business
64 views

How Nigeria Lost $9bn to illegal Mining in 2 Years

PH - November 23, 2017

The Federal Government lost about $9bn to illegal Mining between 2014 and 2015, the Minister of Mines and Steel Development, Kayode Fayemi, has said. Fayemi who addressed…

Why President Buhari Is APC’s Greatest Enemy – Iwuanyanwu
Politics
85 views
Politics
85 views

Why President Buhari Is APC’s Greatest Enemy – Iwuanyanwu

PH - November 23, 2017

Emmanuel Iwuanyanwu, a member of the Peoples Democratic Party, PDP, Board of Trustees, BoT, has insisted that President Muhammadu Buhari is the “greatest enemy” of the All…

Why PDP Lost Anambra Election – Makarfi
Politics
85 views
Politics
85 views

Why PDP Lost Anambra Election – Makarfi

PH - November 23, 2017

National Chairman of the Peoples Democratic Party (PDP), Ahmed Makarfi, has revealed why Oseloka Obaze, the Party’s candidate in the just concluded governorship election in Anambra state…

Talented Nigerian Engineer And His Locally Made Combatant Vehicle Spotted In Imo State [Photos]
Inspiring
103 views
Inspiring
103 views

Talented Nigerian Engineer And His Locally Made Combatant Vehicle Spotted In Imo State [Photos]

MT - November 23, 2017

The engineer, Alex Ephraims from Imo state who became an online sensation after constructing a 'made in Nigeria' combatant vehicle by using locally available materials - was…

These Are The 4 Vital Documents To Prove Land Ownership In Nigeria
Best of Nigeria
104 views
Best of Nigeria
104 views

These Are The 4 Vital Documents To Prove Land Ownership In Nigeria

MT - November 23, 2017

  As the value of Naira continues to depreciate and the uncertainty of the stock market, many people have come to realization that the oldest form of…

WAEC GCE Result 2017 Is Out, 26% Passed | Here Is How To Check Result Here
Shocking
62 views
Shocking
62 views

WAEC GCE Result 2017 Is Out, 26% Passed | Here Is How To Check Result Here

MT - November 23, 2017

West African Examinations Council, WAEC GCE 2017 Result is out. WASSCE for Private Candidates (November/December), 2017 Has Been Released. See How to Check 2017 WAEC GCE Result Online…

Why Manchester United Lost Against Basel – Jose Mourinho
Sports
71 views
Sports
71 views

Why Manchester United Lost Against Basel – Jose Mourinho

MT - November 23, 2017

Jose Mourinho has explained why his Manchester United side lost the UEFA Champions League game against Basel on Wednesday night. Manchester United’s perfect record in the Champions…

Google Still Tracks You Even With Your Location Services Off
Technology
52 views
Technology
52 views

Google Still Tracks You Even With Your Location Services Off

MT - November 23, 2017

Smartphones with no sim, no location service on or even that which has just be reset to its factory mode still keeps tracks of you and sends…

Loading...