Product-Market Fit; the soul of every startup
Startups usually have a notoriously small budget, which means that trying to sell your products to everyone will likely result in disaster. As startup owners, you need to keep a narrow focus on your target market, and most importantly, develop a product-market fit. A Startup should prioritize product-market fit above all other goals because finding […]
Read MorePIVOTING – When is the right time? (Case study – Paypal)
The most successful businesses are often those that have found a way to truly meet the needs of their customers. Such businesses had achieved a Product–Market Fit. If their initial idea doesn’t work as planned, entrepreneurs are expected to be ready to pursue a Plan B. But what does it actually mean to pivot – […]
Read MoreRETAIN YOUR CUSTOMER BASE USING SOME SIMPLE TIPS
As a startup founder, you know that there is no greater desire to win your first customer or your first ten customers. You’ll do whatever it takes to call a customer your own. Customer acquisition is something you’ll practically fantasize about it. I’ve heard some entrepreneurs compare that feeling of owning their first pet. Beautiful, […]
Read MoreLET US NOT GET ANGRY; THE FIRS CIRCULAR DOES NOT CONCERN YOU
A few hours ago, the Federal Government, through one of its twitter handles, ordered all persons holding accounts across financial institutions and insurance firms to complete and submit Self-certification forms. Well, this was what the information sounded like, that was not what the announcement was trying to say, little wonder why the post has been […]
Read MoreIs Africa’s Internet Market Backed By Real Purchasing Power? (An Irokotv case study)
Economies around the world have experienced a squeeze with the global economy on lockdown. This crisis has not only affected businesses, people have lost their jobs which has inadvertently affected spending patterns. Irokotv, a video-on-demand streaming platform has had its fair share of the squeeze. While global streaming media is experiencing a […]
Read MoreLost and not found? When money in your savings accounts grows wings who is to be held responsible?
A combination of cashless policy, mobile phone penetration and internet affordability has led to an increase in Fintech companies in Nigeria, ranging from savings, insurance to crowdfunding platforms. According to a Nairametrics report published in 2020, Nigeria’s Fintech landscape consists of 210-250 companies with revenues expected to reach $543m in 2022 up from $153.1m in […]
Read More2020 Q2 GDP DATA POINTS TOWARDS AN ECONOMIC RECESSION; HOW CAN STARTUPS NAVIGATE THROUGH THIS TRYING TIMES
Nigeria’s National Bureau of Statistics recently released 2020 Q2 GDP data. This data showed a contraction of 6.1% when compared with last year’s real GDP. This contraction is the steepest seen since 2004 and an end to three years of feeble but steady growth post the 2017 recession. The decline is mostly attributable to a […]
Read MoreGHOST KITCHENS – THE FUTURE OF RESTAURANTS
A business model that once seemed marginal before the coronavirus pandemic now looks like the future of restaurants. Just like fashion, electronics & gadgets, and cab services, the food delivery sector is one that is earning massive compensation as the workplace continues to become demanding with everyday increase stress due to heavy traffic. As of […]
Read MoreCAMA 2020; IS THE GOVERNMENT PROMOTING THE EASE OF DOING BUSINESS INITIATIVE OR, IS THE GOVERNMENT TRYING TO CAPTURE MORE BUSINESSES INTO THE TAX NET?
In a bid to address the ease of doing business initiative of the present administration, President Muhammadu Buhari, on Friday, August 7, 2020, signed into law an amended Companies and Allied Matters Act (CAMA). The new Companies Allied Matters Act CAMA 2020 is expected to enhance the ease of doing business in Nigeria. The new […]
Read MoreCOVID-19 Teaches Us Demand, Supply And Pricing So Well
Remember how we were taught in secondary school that the market prices are controlled by the forces of demand and supply? Well, it is not far from the truth, as even the most profitable ventures with massive market share are bounded by the forces of demand and supply, and the outbreak of coronavirus (COVID-19) further […]
Read More