From Nkechi Oguchi: “The Pursuit of Growth: I recently started taking a course on the growth playbook by Ndubuisi Ekekwe at Tekedia Institute. I would share snippets of things I find interesting in class during the course of the program. You may find it useful.
One thing that has kept resonating with me is that you cannot scale a faulty business model. Even if you managed to raise millions of dollars and open in more locations, all you would have done is to take a problem and made it exponential. This is why businesses go through a validation phase. During validation you test your assumptions and ascertain the viability of your business model. It should be seen as an experiment. Everything does not need to be perfect, but the pieces should be coming together, this would be evident by traction.”
Good People, that is it. Until you can retain customers, the growth phase must wait. From Mocality to Kalahari, from old Konga to OLX, money will not fix a bad business model. INVEST time in your business model and develop a great playbook.
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Source: LinkedIn
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