There is a positive and strong entrepreneurial culture in Nigeria driven by the young population and also the return on investment in Nigeria is higher than most African countries. This shows that many young Nigerians are eager to become entrepreneurs if given the needed support in an enabling environment!
The contribution of the technology industry in Nigeria is becoming significant. It becomes obvious that the backbone of leading economies in the world today is hinged on technology and entrepreneurship.
Tayo Oviosu is one of such start –up success stories who came back to Nigeria with over 13 years of working experience in a variety of technical and business roles in High tech and private equity to start his own business. Tayo shared his success story in an interview with Ndani and gave some keys pointers for upcoming start-ups.
Success Tips for any Young CEO
Always be humble: It is not about the size because every business started from somewhere
Have some working experience: Having working experience gives you competency and a voice in your business.
Be Diligent: Its important for people to see you steady and keep in hardwork .
Have fun with what you are doing. Enjoy the work that you do.
Network: I was able to brainstorm the different ideas with my friends and other people who also helped streamline my ideas to meet a specific need. Something I could also provide solution for.
Challenges for Start-ups
Early stage capital: Most high network individuals are not used to funding an idea than a business. So for me most of our early investors, were people who had been giving me advice through the variety of different ideas I had and people I had worked with, who believed in me.
People: Building a team of good and competent people who will take ownership and drive a particular project.
Paga is a consumer finance company with a mission to transform lives by delivering innovative and universal access to financial services. Paga started in April 2009 with an idea that mobile phones could be the primary channel to deliver finance services after having a personal frustrating experience with handling a lot of cash.