This week’s theme for the Nigerian Startup chronicles, aka “Why some Nigerian businesses fail,” is consumer biases. We hope that you are both entertained and educated by this story. Two Nigerians who had lived abroad for decades decided to return home and replicate a foreign product idea in Nigeria. They pitched the idea to investors […]
Tag Archives: Entrepreneurship
03
Jun
Jun
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 […]
27
May
May
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. […]
20
May
May
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 […]