THREE TIPS FOR NIGERIAN TECH STARTUPS
After a number of years working with startup ventures of all kinds, ranging from traditional/legacy businesses to new digitally-driven…
THREE TIPS FOR NIGERIAN TECH STARTUPS
After a number of years working with startup ventures of all kinds, ranging from traditional/legacy businesses to new digitally-driven enterprises and pure technology companies, I’ve noticed a few trends and misconceptions amongst tech startup founders.
From analysing, and advising founders on their, business models and operations I have observed some recurring themes in how founders operate their businesses and develop their growth strategies.
Based on said observations I thought it necessary to address these misconceptions by way of the following three tips:
Monetize from Day 1
Only Raise Funds To Grow Revenues
Manage Operating Expenses
Monetize From Day 1
Tech startup founders — particularly those with primarily ad-supported offerings — seem to have a notion that revenue growth is secondary to user growth. Whilst the logic for this assertion is understandable, I fear adherence to same has been taken to dangerous extremes.
When founders postpone the “hea…