WHY START-UPS AND BUSINESSES FAIL IN NIGERIA

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WHY START-UPS AND BUSINESSES FAIL IN NIGERIA

WHY-START-UPS-AND-BUSINESSES-FAIL-IN-NIGERIA

…Though must people have one excuses or complains, about the reasons, why there business failed,  i
have compiled a list of 6 reasons why there start-ups and businesses actually failed.

“A man will be imprisoned in a room that is unlocked but opens inwards, as
long as it doesn’t occur to him to pull instead of push”.

Before you start another business, or fail with that idea and startup, this year, wait!!!

Here are 6 tips why start-ups and businesses fail in Nigeria

 

1. Number of Founders?

(Like Salt to food, too little or too many founders will ruin the taste).
From experience, 2 to 3 is ideal (Steve Wozniak and Steve Jobs, BillGates
and Paul Allen) or 3 (Jay-Z, Dame Dash and Biggs Burke), Buhari and Tinubu’s
alliance formed APC.

2. Do the Founders Complement Each Other?

-The Founders Should be YingYang

Wozniak can produce anything, Steve can sell anything.

To outsit PDP, Buhari had character, Tinubu had the money.

What is your other founder bringing to the table? Skill, network, drive? experience, funds, brand equity?

3. Wanting to Make Money too Fast.

Like “Google, Twitter, Whatsapp” This is the era people want premium for
free, it’s called FreeMium (Learn from your mallam that sells you suya, let
them taste it, and they’ll buy. In the 21st century, if we can’t test it, we
can’t buy it)

4. Funding. It is not the problem

Every time I hear people say, there’s no capital.. If only they knew they are the biggest capital (character, influence, skill, talent, positioning, alliances).. Whether life or business It’s not what you don’t have that stops you, it’s what you have and don’t know how to use.

5. Wanting to Scale too Fast

Do you really need that office space, what happened to your apartment and
your internet? Our client Ruff-n-Tumble started from her room, then moved
into her car and today over 15 world class superstores nationally.

6. Lack of Focus, Sincerity of Purpose And Many More

Comment, if you want us to have a FREE training or knowledge sharing session as an introduction to your organization , please comment to this post by simply saying “Interested”

 

Thanks for your patience in reading this post, I hope you have gained one or two things.

Yours in business,
Lalkay.

SEE YOU ALL AT THE TOP

REFERENCE: hbc.org.ng

 

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