I like visiting Sokoto. For all the states in northern Nigeria, it is the most hospitable. Despite being the seat of caliphate, the people are largely welcoming. I am yet to clearly understand why Sokoto is that unique. But looking at some institutions, there is a clue.
In one of the hotels I stay, I have noticed that they named the buildings after founding Nigerian statesmen. Typically, they always find space for me in Nnamdi Azikiwe building. Then in front of that building, they have a space, structured for Igbo people to congregate for the nkwobis, etc. But walk down: there is Obafemi Awolowo building with settings suited for the southwest. This is at the heart of Sokoto, and the businessman is bold to go national!
Camel in Sokoto. Sokoto is a hospitable place
I asked the manager how that thinking came. He explained that they wanted to make everyone feel at home. So, in designing the place, they went to the cultural leaders of the major ethnic groups, in Sokoto, to assist in the design and settings.
This is an example of the Nativity Design Construct. If a hotel can do it, banking and fintech could also explore how Yorubas, Igbos, Hausas, etc handle and manage money to architect services that fit.
In my teachings with startups in our advisory business, I have called that Nativity Design Construct. It is a way of looking at business from the angle of the customers by making sure that you deliver solutions and services within the natural nexus of the users, eliminating any possible assimilation friction.
The one-size-fit-all model has become obsolete, so any business that wishes to survive and continues to be relevant going forward, must learn to pay attention to finer details.
It is no longer tenable to spend all your time in the lab and conference room, and then hatch out and ratchet up products and services for users/consumers you do not understand. If politicians do same and survive, for businesses, the price you pay for your misdemeanour is higher; because opening a wallet is not same as flashing your voters card, no one jokes with the former down here.
The digital platform model innovation has helped to democratise this Nativity Design Construct, making the potential users key players during the design phase of the product development. The hotel owner did not close his eyes and imagined what every tribe would cherish, rather he went out and enquired from the PEOPLE how best to go about it. A big lesson there for our men and women in suits.
Think about it – it does not make sense. You approach someone to help take a look in your business model. The person agrees to help you as part of supporting the community. Then, you send a Non Disclosure Agreement (NDA) for that person to sign. Honestly, I cannot imagine anything more stupidly insensitive than that move: you want freebies, and you still want the person to sign NDA!
A non-disclosure agreement (NDA), also known as a confidentiality agreement (CA), confidential disclosure agreement(CDA), proprietary information agreement (PIA) or secrecy agreement (SA), is a legalcontract between at least two parties that outlines confidential material, knowledge, or information that the parties wish to share with one another for certain purposes, but wish to restrict access to or by third parties. The most common forms of these are in doctor–patient confidentiality (physician–patient privilege), attorney–client privilege, priest–penitent privilege, and bank–client confidentiality agreements.
The problem is not the signatures you are asking for, the issue is the thinking that any professional will do it. Personally, when I get that, I will simply reply “We will review” and that is it. Why would I risk my businesses to help you, free? Of course, if you want NDA, we would have an engagement contract which will naturally have NDA, and enforcing it is part of my bill since my colleagues must be part of the compliance. There is no decent professional that would take over liability of agreement compliance when working for you free.
Yes, if you cannot trust the decency in humans, you should not expect to get help out of this world free. I know you read it from a lawyer (we like lawyers) but I can assure you that no credible person will help you with that mindset. The NDA you are parading is part of the reason you have no traction in that venture! If you check carefully, people are not helping you.
Sample of NDA (source: gratulfata)
NDA for Business Plans
Then the craziest of all: asking an investor to sign NDA before you would share your business plan. I am not aware of any credible investor that would sign, and you asking for one demonstrate severe lack of awareness of the ecosystem. While lawyers will tell you to do that (yes, to protect your idea!), you need to be informed that the market belongs to the person that writes the cheque. Possibly, unless you are Elon Musk who can come up with something extra-super-awesome, no investor would sign to read that business plan. In other words, for real investors to sign, you must have elevated your level with unbounded history of success; that does not typically happen.
Get me right – you can continue to parade NDAs looking for people to help you even when signing to absorb all risks before they could do that! Yes, you could continue to look for investors that would expose their assets to risks just to read one document they are not sure of the value therein. You can do whatever you want; it is a free world. But let me make it clear: you would not make progress with that attitude in this world where people post their business plans online to raise capital.
Business plan is largely free; execution is the key. If you check business plans on providing adequate electricity in Nigeria, there may be more than 20,000 of them in Nigeria as I write. The challenge remains that we do not have more than 5 executors at scale in that sector.
I am not saying your business plan has no value. It does have but you need to be real. If in the path of raising $100k you expect a person managing a fund with assets of $500 million to sign NDAs, you have not started. Yes, lawyers told you to do that: of course the lawyers can fund your firm. No serious investor will bother to engage you when you parade that NDA.
There are many emerging business models. Yet, do not think they would make you special to get NDAs from investors
The Way Things Work
This is what happens in this world: if you are going to meet the top 5% in the world in any private business advisory or fundraising, they would send you a document ahead. In that document, they would ask you to sign that YOU WOULD NOT DISCLOSE ANY PROPRIETARY INFORMATION during the meeting. They flip it because they “own” the world and if you do not like it, you are free to remain in your village.
If you do not sign-off that document, you would not be processed to participate in the event. In short, they hire specialized companies to process you before you can meet these super-rich people for business level discussions. All entrepreneurs looking for capital sign-off making it clear that there is nothing proprietary they would disclose.
Now, for you to think the other way round is pure stupidity [you are the one that needs help]. You do not expect a billionaire to risk his assets to listen to you asking for $500k when they do not even know the value of what you have to offer. Taking it home in Nigeria, I do hope people become real and stop this NDA thing. There are moments for NDAs but we are abusing them in the fledgling Nigerian startup scene. If you have a business plan that contains proprietary things, there are ways you can still share the business plan while managing the IPs. You cannot expect people to overexpose themselves to risks just to help you.
You need to listen to Gbenga Bamiji, FCA. He has deep insights on growth, branding and strategy. Your business brand is a personality. You need to nurture your brand.
I wrote about Gokada, a pioneering on-demand motorbike hailing service which makes it easier to move from one location in Lagos to another, and the creativities the young people working therein are bringing to help in fixing our intra-city transportation friction. In this piece, I explain the business model which is anchoring what the company is doing. The company is using the enablers of mobile internet, mobile apps, and other digital systems to orchestrate near-zero marginal cost linkages between riders and trained bikers, at scale. The outcome is outsmarting Lagos traffic when the moments call for it! For many people, in Lagos, the moments are nearly daily.
As Lagos remains the center of attraction for young graduates, the traffic problem is not going away anytime soon. Fixing that friction which affects any Lagosian is a business opportunity. At population in excess of 24 million people, Lagos has the numbers to test many business hypotheses before massive expansion to other locations in Nigeria. Deji Oduntan, the CEO of Gokada, understands that clearly when he spoke to newsmen recently, “In 5 years, Gokada will be the one-stop shop for the Nigerian consumer. Because we will be solving multiple problems once we have thousands of bikes on the road. With that kind of reach, we will be able to fix delivery and logistics, and of course transportation.” Making that happen would depend on how he manages the growth of the platform: allowing unbranded non-Gokada bikes may be challenging, but necessarily, for a big country like Nigeria, if he wants to scale.
To use Gokada, you would need to download the app on Google Play Android or Apple iOS, and then follow the instructions.
The Academic Staff Union Of Universities (ASUU) has started an indefinite strike across Nigeria. Simply, universities will now be closed.
The Academic Staff Union Of Universities (ASUU) has commenced an indefinite strike.
An official of the union, Ben Ugwoke from the University of Abuja, confirmed the development to PREMIUM TIMES Sunday night.
When contacted, the chairman of ASUU at Obafemi Awolowo University, Adeola Egbedokun, said the strike is total and indefinite until the union’s needs are met.
The strike is to protest the poor funding of Nigerian universities and alleged plan by the federal government to increase students fees and introduce an education bank.
Led by its National President, Biodun Ogunyemi, ASUU declared the strike at the end of its National Executive Council (NEC) meeting late on Sunday.
I have noted some of the key issues which must be resolved before universities in Nigeria could be expected to function.
Nigeria needs a conference on how to fund education in the 21st century. Our students deserve better. For more than 30 years since ASUU was established, it has been making this argument from military governments to civilian ones and nothing seems to be working.
