This week’s theme for the Startup chronicles, aka “Why some Nigerian businesses fail,” is inexperience. We hope that you are both entertained and educated by this story. There was a Nigerian founder who decided to enter an industry dominated by foreign companies. She did not understand the sector, but it annoyed her that foreign companies were leading […]
Tag Archives: Business Tips
This week’s theme for the Startup chronicles, aka “Why some Nigerian businesses fail,” is consumer biases. We hope that you are both entertained and educated by this story. A startup recruited two divisional heads (DHs) to run its business units. Both had relevant industry experience. One business unit targeted premium consumers while the other targeted low-income consumers. […]
This week’s theme for the Startup chronicles, aka “Why some Nigerian businesses fail,” is friendship. We hope that you are both entertained and educated by this story. A founder hired his friends as consultants for his startup. They signed a six-month contract with a vague scope of work, and no KPIs or penalties. These consultants supposedly had […]
This week’s theme for the Startup chronicles, aka “Why some Nigerian businesses fail,” is delusion. We hope that you are both entertained and educated by this story. A certain founder had one million combined followers on social media to whom he dished out business advice regularly. Then he launched a new product. It was a novel idea […]