1/ Thread: How to hack your Nigerian Startup. Lessons from growing Cregital for 2.5 years.
2/ You have raised finance does not mean you should burn cash on a super fly office. Save Save Save from Day 1.
3/ You are choosing a location for office and you selected Ikoyi / VI cos you live there while the bulk of your staff lives on the mainland.
4/ You are looking to hire the best hands which will cost you soo much money. What you forget is that most people lie on their CV.
5/ Be ready to grow your own talent, everyone you hire will not be able to execute the way they sell themselves in their resume.
6/ In the beginning, you have limited finance, hire for attitude and train for skill, 80% of people with the skill are very very expensive.
7/ Pair your best hands with interns, these people may move on, the interns will learn and keep things going as they grow… its a cycle.
8/ Build a people first culture. Good culture will keep your people. Make them happy at work and they will be productive.
9/ Your people are growing, never allow them to ask for a raise. Give them before they ask. That’s how they know you actually care.
10/ Have a profit model for your startup from day 1. If not cash, users, then cash. Have it in mind and stay woke on that every single day.
11/ Don’t spend crazy on marketing. Try to conserve your cost per acquisition.
12/ It makes no sense that you launch a billboard when you are strictly an online business. Think organic methods first before paid.
13/ With 10+ team members, it means 10 shares on Facebook, Twitter, Instagram and Linkedin. Each of them has at least 2500 friends.
14/ If all your equipment and admin costs are high, take them step by step. Maybe 1 air con and then another after some months…
15/ Please run on inverters if you can. Generators are cheap but Fuel / Diesel is a slow death.