My Startup Story – Sheriff Shittu O.

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.