The October 2017 Edition of the CFA’s Startups Hangout really lived up it’s expectation, as the Startups were fed with priceless nuggets on how to run their businesses successfully and improve on their lives and uplift the nation.
CFA’s Startups Hangout, is an event that brings Startups together to learn how to run and grow their businesses from invited successful entrepreneurs, as well as network with each other.
The two invited speakers for the October 2017 edition, which was held at Adna Hotel, GRA, Ikeja on Friday, October 20, 2017, were Mr. Wale Ajisebutu, Vice-Chairman, 21st Century Technologies and Dr. Nkiru Balonwu, Managing Partner, RDF, a Consultancy outfit.
First to speak, was Dr. Nkiru Balonwu. She stated that Startups need to be determined and stay focused, as these are key to achieving what they want to achieve. “Be sure of what you want to do and set milestones for the achievement of goals”, she emphasised. She admonished the Startups to note each achievements as they are met and also know why they are not met and fight to see that they are met in the end.
She made it known to the Startups that, from her own experience at starting her own business outfit, not everyone will encourage them in their quest, but they should not be deterred. She advised them to seek for sponsors and mentors, but should also be ready to give them something in return.
Nkiru stated that Startups should ensure that whatever it is that they are doing, should be centered around solving a problem for their clients. She gave the example of her own experience, where her personal need to track the income and expenses of her income and expenses, prompted her to develop the Bukkipa App, a simple accounting solution, but she had to ask for inputs from those who are also in need of such a solution, so that they can patronise it.
Wale Ajisebutu, in his presentation to the Startups, gave the narrative of Nigeria as a country blessed by God, with lots of opportunities, which, unfortunately, the citizens are only seeing and complaining about as problems.
He advised the Startups to stop complaining about what the government has not done and see all the problems that we have in Nigeria in the areas of inadequate water supply, bad roads, poor transportation, scarcity of food and agriculture, etc., as opportunities they can key into and start a business on, because the government cannot do them. “You cannot see all these kinds of opportunities in England, for instance, because they have light, they have houses and they have roads, etc. You don’t need to run there. If you go there, you will just go and wash toilets and plates”, he observed.
“It was individuals that developed America and not the government”, he stressed. He gave the example of Cornelius Vanderbilt, who invested in and built railroads, John D. Rockefeller Snr, who invested in the oil and oil pipeline business and J. P. Morgan, who invested in the banking industry, all in America. He stated that a good example of such individual, doing a similar thing in Nigeria, is Aliko Dangote, who invested in problem areas in Nigeria and is today, the richest African in the world.
Wale advocated for the adoption of a four-tier government, namely, Federal, State, Local government as well as Youth and Entrepreneurs, to take care of the interest of SME’s. He advised Startups to work hard, be consistent, dream big, think big, start small, be open, be curious and take risks. “If you do the right thing in your business in Nigeria, you will become a multi-billionaire in any currency”, he assured.
Wale further advised the Startups to build great teams, have good business concepts, build wide network of mentors and cover their costs to stay relevant in the business world. “You are in Nigeria for a purpose. Take advantage of it. The country is for you. You have to build it”, he concluded.
Other attractions during the October 2017 edition of the CFA’s Startups Hangout, include presentations by officials of The Bridge Clinic, who took the Blood Pressure of the Startups that attended the event and TAMS on Time Management, Payroll and Human Resource solutions for the Startups.
The event ended with the networking session, where the Startups interacted with each other to form alliances, friendships as well as synergize their operations.
The November 2017 edition of the CFA’s Startups Hangout, which will be the last for this year, also promises to be an exciting one. Watch out for details @