The ecosystem looks scary but do not give up hope: Nigeria is still a good place to invest. The playbook now is simple: ensure the company earns not just Naira but also foreign currency like US dollars. (Nollywood studios have figured this out very well). If you have a Dollar Earning Strategy, you will see Nigeria from a different angle. Yes, provided the market frictions have not been fixed, the opportunities remain. Either you unlock them or another person does. Now, what is your score on our investment outlook? I have 73!
What is driving this YouTube business is evident: everyone wants to earn in US dollars. And YouTube pays in U.S. dollars. So, if you churn out videos and can get people to come and watch with the endless YouTube ads, even a monthly treasure of $20k is achievable. Rumour has it that some channels command excess of $100k monthly. That is a possibility if you see the number of videos these companies put out weekly. With less than (typical) $15k production budget, it is a great business if you have the talent and energy to make it work.
1. Advance your career with Tekedia Mini-MBA (Sept 13 – Dec 6, 2021): 140 global faculty, online, self-paced, $140 (or N50,000 naira). Click and register here.
2. Click to join Tekedia Capital Syndicate and own a piece of Africa’s finest startups with a minimum of $10,000 investment.3. Register and join me every Saturday at Business Growth Playbooks w/ Ndubuisi Ekekwe (Sept 4 – Oct 23, 2021), Zoom, 4pm WAT; costs N20,000 or $60.