In this videocast, I discuss why organizations must focus on developing products and services that go beyond the needs of customers to their expectations and perceptions. Focusing on the needs of customers is a recipe for disaster. The whole desire must be to deliver products and services at the level of customer perception where they are offered products and services which they might not have even imagined would be possible.

But the day they see the products they will say wow: That is the thing I have been thinking. This also explains the limitations of focus groups because focus groups are  tethered to what the customers think they need. Perception of customer level  service is offering something which could not have been requested during focus groups, because such products will not come into the imaginations of the people being studied.

In today’s videocast, I discuss The Elumelu Way and what African entrepreneurs can learn from it. The Elumelu Way is the construct enshrined by the legendary Lagos banker and investor, Tony Elumelu. Through hard work, discipline and vision, Mr Elumelu has built one of the finest financial institutions in Africa. Upon retirement from United Bank for Africa Plc CEO, he pioneered a truly novel way of philanthropy through the Tony Elumelu Foundation. Highly respected around the world, the icon has many lessons aspiring entrepreneurs can pick. This videocast shares some gathered over the years by studying his writings and video clips.

The following are related videos

The Elumelu Way: Core Pillars for Successful Execution [Video]

My 3 Pillars In Raising Capital As An African Entrepreneur [Video]

TechCrunch is hosting its first startup competition in Sub-Saharan Africa.The celebrated Startup Battlefield competition is coming to Nairobi on Oct 11 2017.

They are looking for Sub-Saharan Africa’s best innovators, makers and technical entrepreneurs to participate in TechCrunch Battlefield Africa 2017. Startups can apply to three categories: social good, productivity and utility, gaming and entertainment. TechCrunch will host the event in Nairobi in front of a live audience and top judges, and they will live stream the show on TechCrunch and Facebook so the rest of the world can tune in. The judges will choose a winner in each category and select an overall winner, “Sub-Saharan Africa’s Most Promising Startup,” whose founders will win $25,000 USD in no-equity cash plus an all-expense paid trip for two to San Francisco to compete in the Battlefield at TechCrunch’s flagship event, Disrupt SF 2018.

Sub-Saharan African startups are helping unleash the region’s potential, from last-mile technologies that deliver edtech, agritech, and medtech to remote areas, to mobile-based fintech innovations that ease financial transactions and lending in bustling cities. Sub-Saharan Africa’s diversity in language, culture, politics, technology and living standards demands huge creativity from entrepreneurs.

Here’s how to participate

Startups must fit into one of three categories (social good, productivity and utility, gaming and entertainment) to participate. Five startups in each category will be selected to join us on stage for the Battlefield Africa in Nairobi.

Apart from clear relevance to one of the three themes, qualifying startups should:

• Be early-stage companies in “launch” stage
• Be a resident from our eligible countries
• Have a fully working product/beta, reasonably close to or in production
• Have received limited press or publicity to date
• Have no known intellectual property conflicts

What do the winners receive?
Apart from the exposure that comes from pitching to the global TechCrunch audience as well as the live audience of distinguished technologists, entrepreneurs, and investors in Nairobi, the overall winner will receive $25,000 in no-equity cash plus an all-expense paid trip for two to San Francisco to compete in Battlefield at TechCrunch’s flagship event, Disrupt SF 2018.

What are the judging criteria?

Productivity & Utility — The judges will pick startup with the product or service most likely to go into full commercial production and have the biggest impact on human potential and/or the largest exit.

Social Good — The judges will look for the startup with the product most likely to catalyze social and economic development through technology.

Gaming & Entertainment — The judges will pick startup with the product or service most likely to see wide consumer adoption and have either the biggest exit and/or impact on gaming and entertainment.

Apply here –  due July 14th, 2017 at 5pm PST.

Source

In today’s videocast, I discuss the rise of Paga. Paga is a fintech company based in Lagos, Nigeria. It started as a mobile money company but quickly pivoted when it realized that mobile money was not (quickly) taking shape in Nigeria. Paga is growing and is well positioned to become a very important financial institution in Nigeria. Its numbers, revealed by its Founder, are better than most public-traded Nigerian insurance companies and in coming years, I expect it to overtake most banks in profitability.