Since the start of the year, we have witnessed a couple of investments in Nigerian startups while this will not stop, I want to hightlight briefly the structures it will take going forward.

1. Bootstrat/garage startups: for now, this is the most adopted struture in Nigeria. It usually take the forms of a guy,two or more crunching codes to bring the next big thing to live. It could also be a guy working fulltime and building the startup along. The company could be ran, scaled and made profitable while doing other jobs. The startup in some cases could refuse external funding or be totally ignored by the money bags. The startup will eventually grow to become multimillion dollars company. This route is usually longer than others because of the cost of scaling, staffing and  PR. But it can still make it.

2. Venture funded local startup: it could at first take the form of the one above but before any landmark it gets funding to manage and grow it operations. If you have good connections or experience running company you can fall in this category. This will give the startup a leverage as it will have enough time to perfect its products, build customer base, develop business models and make mistakes. Also the connections and doors provided by the venture, increases the chance of success.

3. Foriegn funded startup: Yea! I can see the fear raging in the face of young entrepreneurs about big foreign company that might come and crush them in their local market. Well, it’s already a reality as Google, MIH and other big internet companies have started exploring Nigerian market. For your information, do you know MIH of South Africa owns dealfish.com.ng and kalahari.com.ng? Do you know the company also have stakes in facebook.com, tencent in China and other big internet properties?
Nigerian internet market is a darling of investors, a whopping 43million users is a huge market! So, dear startups, be not afraid, the competition has started, put on your armour and be ready for the fight. You wont only have to compete with fellow startup but to take on well connected big companies. Dont be afraid, get ready…you can follow the number path, just be creative and solve problems. If you cant compete, the worst is acquisition!
What do you think?

We recently interviewed Nkonye Obanya-Oyewusi. Nkonye is a real inspiration to women aspiring to be web developers. A great web developer, She is the founder of Web development Company, Obanya. We asked Nkonye to share her start up story with us and she kindly obliged. We hope her story inspires you.

I actually founded O’Banya when the UK fell into a recession known as the ‘dotcom crash’. Everyone in the UK then was doing some sort of selling over the internet and very few companies were using the internet for powerful software applications. This was also the period for the rise of web-based applications and web-based software in the UK. I registered the company and started getting a lot of work on freelance sites. My clientele grew from there.  Obanya is my maiden name, my way of honouring the man who encouraged and keeps on encouraging me to be where I am today, Prof. Pai Obanya.

The beginning was very daunting, because there were so many established businesses about and getting that first client was a very uphill task with all the competition. What could O’Banya offer that no other company could? What was unique about O’Banya? What profits will we make our clients? All I knew was Computers, i had to learn about business and customer service extremely quickly.

I found that the best way to get started as an unknown was by using freelance sites such as oDesk and Elance to get work, These sites puts developers in touch with similar start-ups and companies looking to outsource their development work with developers.  I also contacted ethnic minority businesses, as in the UK at the time there was a surprising lack of web presence among such businesses. The third avenue for business came from a rather unexpected source, other developers themselves. A lot of web designers need developers and vice-versa, so a lot of small partnerships have been formed.

My clientèle grew fairly quickly. Some of my clients were relieved to have someone not offering the high prices that the established houses were offering. I had to work extremely hard to prove myself. I made a few mistakes along the way, which I had to learn form very quickly!! I also had to add debt-collecting skills to my skill sets, as some clients found very clever and imaginative ways not to pay their bills.

In 2009, I was contacted by SpearVentures Ltd via one of the many freelancer sites I was registered on. The client needed me to do a couple of small jobs to repair their web site, as the developer responsible for the site had taken off and the site was not online. The client was so pleased with my work, they got me to do their website, content management system and online forms applications. As the business relationship grew, SpearVentures partnered with O’Banya to bid on UK Public Sector projects.

Since then, O’Banya has continued to grow steadily.

Nkonye

Have questions for Nkonye? Paste them here.

I started while still in the University some years back. I discovered the growing trend in the unemployment market and told myself I don’t want to have anything to do with that.

I ran into the Internet by chance and it was love at first sight and after some explorations, I told myself this is where I want to belong and that decision brought me this far. I was in my early twenties, say 22 or 23 when I started.

When I was starting out, there was this man in my church that believed so much in me, I got N5,000 from him and that is what I used in starting my business.

I started a Web Designing business and six months after, I got my first client. From there I started getting clients in bits.

If you ask how I scaled through the challenges of starting a business in this country; I was able to stay focused because I have a dream of where I was going. So when the challenges came, my dreams kept me going.

The key factor that helped grow my business was my ability to stay focused and learn all I need to learn in order to grow. There were so many distractions, so I thought myself to shut myself in and LEARN! So information is important in growing a business.

I want to reaffirm that by saying YES! It is possible to succeed in this country. Though it takes a lot of determination on the part of the entrepreneur.

The Internet is still growing and I believe the future is MASSIVE!

You can connect with him on Facebook here:

Ahmad Mukoshy is a young Nigerian doing great thing up there in the north, very passionate and consistent. He has been in the industry since 2007 and since then have serviced hundreds of client around the country and beyond. Read trough his story has a shared with us, the journey so far!

I am 20yr old born and brought-up in Sokoto (Nothern Nigeria) and I am the CEO of Aimtech Ltd a pioneer web hosting company and also Founder and Developer of Yarnable and Yrn.me a micro-discussion site and a free URL shorter respectively.

I started my first venture (Aimtech NG) in 2007 when I just graduated from Secondary School (High School).  As of that time, I was only 17yrs old and I was a bit versatile with web design and development. Web design has been my hubby since SS1 (Senior High).

I had zero support except for my enthusiasm! My father was “Not Ok” with me sitting on a computer all day long because to him, I was wasting my time when I could be studying Mathematics (his favourite). It was really challenging! But thank God to that, I am not in my Final year soon to be a University Graduate!

Financially, I had to struggle to establish and sustain my ventures. I remember I actually sold my mobile phone back in 2007 to raise capital for my hosting company, that was about 11,000 Naira ($70) or there about as of then.

I was selling Domain Names to my friends and internet contacts who were asking me of how I registered my own back then to make money. So I figured I could turn it into a business and I ventured into web hosting service with just 1 customer. Today, my hosting company empowers over 450 web site owners.

Looking at the challenges in running business in the country, I believe in the saying, it does not matter in which situation you find yourself; but how you react to the situation. Nigeria has been a challenging place for online-business in particular, but the answer for me has always been…. I cannot change the fact that I am here,  all I can do is look around for possible opportunities.

The key that have helped me so far, I will simply say; Persistance, Persistence, Persistence!

I have been tempted to quit times without number, but what kept me going is persistence. This has been my hobby, it is what I like to do no matter how tough it gets, I only stick more to it and learn from the challenges. It takes courage to drive success, that was my main ingredient.

That is why, I always advice upcoming entrepreneurs to venture into what they like the most!

Is it really possible to succeed in this country as a start-up?
Sure, absolutely sure!

I have seen countless success in Nigeria and if they can make it, why not you? I succeed, some one did before me and surely more will do it after me, it all depends on your courage and devotion. Nigeria and Africa in a whole is still a virgin region when it comes to businesses and start-ups. So much is yet uncovered and success awaits you!

The future of technology business in the country is promising with the evolving growth rate of computer literacy in Nigeria; I will say the future is so blossom.

Read through to enjoy the story of Ola White Yusuf as a takes us through his journey so far.

I may not have much more to say about my Startup but I bet I would inspire a mind if not two or more by the time you finish reading about it. Please let’s have a ride to the island of my Startup.

It all started in year 2003 when I first wrote my desktop application with the popular programming language Visual Basic 6.0 using MS Access as the Database, then I was a Lecturer/Lab Instructor with Lagos City Computer College, Amuwo Odofin Branch. The application was a Student Registration Platform which I spent 3 weeks to write, after completion, I gave it to the School for FREE and I was well applauded by the then HOD, Mr. Kuye who really inspired me by advising me to think about “Building and Selling Applications”, in 2004, I gave it a try by accepting to develop a Sales Assistant for a Venture at Alaba International, Lagos, A Supermarket Software for a Supermarket at Bode Thomas, Lagos. These earned me some cash which I used to register my 1st Business name, WhitesoftX.

Late 2004, I got a new job as Info. Tech. Manager of HURILAWS (The Human Rights Law Service, Lagos – Nigeria – www.hurilaws.org); a public policy think-tank and pressure group working in partnership with multi-sector development and change actors to promote accountable and transparent governance in Nigeria. After a while, I met Tim Akinbo of Timba Object who registered my 1st website for me www.whitesoftx.com and with my little knowledge in Web Development, I used MS Frontpage to develop my website by myself, it was my greatest precious property then, I would visit the website 101 times daily by myself wile I kept telling people to visit and see what I can offer, all I put there was services that I can render which are Desktop Application and Website Development. In 2006, Just to be like other web geeks, I created my 1st blog (I stop maintaining since late 2006) http://whitesoftx.blogspot.com/ based on Information Technology & Human Rights! With the little knowledge I had in Human Rights.

WhitesoftX services continued until 2007 and by then, I’ve developed over 15 websites (some of which do not exist anymore) and JUST 5 Desktop Application, over time I realized that I need to focus on Internet Service Providing with Web Applications and Website Development ONLY, no more Desktop Apps. So I went ahead to start a new Startup which I called Naija Gurus www.naijagurus.com to get more online presence. I was joined by a friend and partner; Abiodun Alli (in late 2007). So we deliberated over and over on how best we wanted Naija Gurus to be and straight ahead, we agreed to make it Info Tech and Entertainment (you can find more on www.naijagurus.com) Naija Gurus earns me better connection, great recognition and prestige with Seven 7 different awards till date within both industry (Information Technology and Entertainment).

As the President and CEO of Naija Gurus, I was privileged to meet the Dons’ of both industries ranging from Tajudeen Adepetu, a bonafide entertainment icon, Prof Obot of NCF Nigeria, Mr Olisa Agbakoba, Abiodun Durosimi Etti, Dr Sam Amedu, If you allow me to continue listing, I bet I would have like two pages of name list, I’ve learn so many thing from them and some of them I still keep contact with.

Presently, Naija Gurus still rule with www.naijagurus.com www.nextminutehost.com www.obviationofcancer.com hands on www.naijagraduateplatform.com and www.naijasuperfans.com and we have developed over 30 functioning websites and application till date.

My latest startups which is coming up soon is a Localized Job Platform and a diversified Blog (of course I have decided not to blog on IT like my fellow IT Gurus) which is called Understanding and Surviving Dream Slayers, Dream Slayers here are revered to as Killer Diseases around the world, both startups would be on before August ending.

Okay, I would also like to mention that I have written 3 books on IT which my favorite is called “Internet is Life; the rest is just the details” and I have also wrote TWO standard Movie Scripts; DREAM SAYER is a “Dream slew and its re-birth” – a true life story about a Nigerian teenager, whose his mother die of cancer – and finally transformed his late mother’s cherished desire into reality and the second one called NOW CLOUD, NOW SUNSHINE – A story about Maternal Mortality based on life stories of “The Lucky, The Unlucky and the Unluckily Lucky” Mothers and what they encountered and main focus on Maternal death happens women while pregnant or within 42 days of termination of pregnancy, irrespective of the duration and site of the pregnancy, from any cause related to or aggravated by the pregnancy or its management, but not from accidental or incidental causes.

In the future, I plan to venture more in entertainment industry and the target is having a TV station.

If you really want to know, its is very possible to succeed in this country as a startup but get ready to work and walk because tech has a great future in not just Nigeria but the whole world. Never think of getting any financial help from anyone because if you do, your startup will end up being a dot gone instead of having a dot come online presence. I faced a lot of problems all along and even facing some right now but will never back-up, I shall always follow my golden quote (from late Idahosa) “If and when you aspire to acquire what you desire, never you retire but you re-fire”, always remember; No event, No story so you have to work hard and get ready, surely your chance will come.

That’s all I can share for now and thank you for taking time to read.
You may like to know more about my ongoing project, please visit www.naijagurus.com

As far as I’m concern, I’m still on the street hustling and so help us God.

I still remain a Geek

Ola White

Connect with Ola on Facebook, Twitter

Not too many people have heard my story though some have. I specifically withdrew from writing about myself in the media, particularly because I have not got to where I really want to go, am still in the making. So let me share a brief of the journey so far and I believe it could stir something in your nerve, if you are thinking of jumping into the startup river in the country.

The Journey started around 2002 when I opened my first email, I was amazed at the swiftness of the technology. What really made me be conscious of its essence was the fact that at a very young age (under 10) I’d dreamed of getting people connected all over the world something Facebook seem to be doing now. So after the email, I started research on how to build websites. As at the time I didn’t have access to a PC, except in the cyber café.

“…you really may not get the help you need until you get started!”

In 2004, I launched my first startup, a web development consulting firm. When I launched, I didn’t have a domain for my business so I used a freeservers. I printed fliers, and distributed around Ketu and Ogba areas of Lagos. You know, you really may not get the help you need until you get started! It was after I started that I met a man (Mr Seye AJagbe, founder of Lagosians.com) who challenged me, he said; ”how could you be building websites for people without having your own domain?” I was dumbfounded! Then he said, if I could register a domain name he would host me for free! So I went ahead, raised money and registered my first domain name.

“At times, your community/market may not be ready for your idea, but building it expands your vision for possibilities ahead.”

In the late 2004, I started research for my next startup; a comprehensive directory of businesses, café and interesting places in Ogba, Lagos. What Yelp is currently doing in the US kind of. At times, your community/market may not be ready for your idea, but building it expands your vision for possibilities ahead. It was semi-successful because (in hindsight) my courage was boosted on how to raise money and getting partnership for my projects. I struck a deal with a café operator to share an office space. I’m still wondering where I got the courage from, because I didn’t know the owner from Adam! But looking back I think I can connect the dot (like Steve Jobs will say). It was nothing but courage to get my idea to the market. I also tried to raise fund from few people and in a particular place (which I will never forget) I was called a 419, I was damned! In my mind I said, “this woman just missed a great opportunity to invest in a business that will soon change the world!”.

Eventually I had to relocate from Ogba and since the business could not generate any fund, and the café I used as office had closed up, I had to move on and concentrate on my web development skills and future projects.

One of the very interesting projects I am very glad I worked on was a solution deployed for couple of universities in the country (Unilorin, Unijos and Futminna). An automated payslip dispatch system that reduced bursary department expenses and staff work load for more than 90%. Imagine reducing work load of one week handled by 3 staffs to 20 minutes and handled by just one person! I was excited! I still continued to consult on web building and all that!

I joined an investment banking outfit in Lagos to further experience the corporate world and add my quota to the company. Some of the take home I got were;

1. I worked closely with research and corporate finance department to understand basics of investment analysis.
2. Got trained on financial advisory.
3. Worked on preparing private placement for startups willing to raise money (most in excess of N250million).
4. Also worked with corporate finance guys to provide, business plans for companies that were leaving startups to go public.( getting listed on Nigerian stock exchange)
5. Some of the stuff foreign direct investment and others stuffs.
6. Also engaged analysis of business plan for investors wiling to either invest in private placements or initial public offering (IPO).

As at that time the bubble was still on in the Nigerian finance industry.

I eventually left the company to focus on my next startup fulltime. Some of the reason I left include the fact that; balancing personal project with official duty is very tasking, I wanted to share with the world what I have learnt so far beyond just one company. I was concern about the Nigerian tech industry (internet specifically); I felt it was more or less like a ship without rudder and thought I can add something to it. That was why I started Web Trends Nigeria to address the industry’s fundamental issue; trends analysis. To give insight driven analysis that will separate the business from the buzz, structure the internet industry and make it suitable for investment and consequently realize its potentials. So far so good, the journey has been interesting as we would be clocking 2 years in next couple of months.

So for anyone willing to start a startup, I say to you; learn as much as you can learn where you are, then burn your boat; I mean RESIGN and get your dream on course! There is nothing like security anywhere, the industry needs you now to bring innovation to the market. I can understand there are so many challenges; no light, no funding, no government support. Yea, but the sad note is that we may not have them soonest but they aren’t enough reason to sit tight where you are and hoping some day miracle will happen somehow!

Bootstrap with what you have and iterate as you go on… We want t o celebrate you, remember; there is no HIstory without a story, so what is your story? Go start something!

Do you wish to share your story with us? Let’s know, read more here.