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: Startup
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 […]
13
May
May
This week’s theme for the Startup chronicles, aka “Why some Nigerian businesses fail,” is penny-pinching. We hope that you are both entertained and educated by this story. A foreign investor came to set up a business in Nigeria. He spent a huge chunk of his funds on equipment but when it came to staff salaries, he believed […]
06
May
May
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 […]
29
Apr
Apr
This week’s theme for the Startup chronicles, aka “Why some Nigerian businesses fail,” is prioritisation. We hope that you are both entertained and educated by this story. There was a founder who hired a boutique agency to create the logo for her startup. The agency gave her a questionnaire to complete and she was asked […]
22
Apr
Apr
This week’s theme for the Startup chronicles, aka “Why some Nigerian businesses fail,” is passion. We hope that you are both entertained and educated by this story. There was an extremely passionate founder who believed that access to technology-enabled services is a basic human right. He approached a marketing consultant and shared his intention to […]
15
Apr
Apr
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. There was a founder who had the ambition to compete with a thirty-year-old market leader. He had good intentions and wanted to offer more competitive products at […]
08
Apr
Apr
It can be disheartening to hear about startups shutting down, especially when they have raised a significant amount of funding. Recently, Thepeer, a Nigerian API startup shut down after raising $2.1 million in seed funding in June 2022. According to a report by TechCabal, the company cited “compliance issues and the overall acceptance of wallets […]