The last time I visited Lagos, I spent good time in Oshodi market. I also took a bus to Yaba. I wanted to see Lagos and understand the evolution. The fact is this: nothing has changed that much. You have a higher chance of making money in Nigeria offline than online. In other words, for everything you do, you must have an offline strategy because the customers are still offline. You are not running a business in Nigeria if all you have is internet-based strategy. The customers and most of the richer citizens are not here.
In this video, I explain why you need to think less of what you get from Silicon Valley. UNWIND and be real; Lagos is not New York. No Director General in any government establishment will take you serious if you do not come in person. And I promise you that no one will respond to any email to the [email protected] unless you have written to congratulate them for doing a great good. In that case, they will respond to thank you. But anything business must be in paper and blood. That is where we are today.
It is irrelevant if your app runs on low bandwidth, your website is pure HTML or you can make the video download faster on a slow network. You are just pursuing a very small percentage of your potential customers.
This is what I suggest: get offline, go and build a business. You can mix it, to serve today’s customers while you plan to serve the evolving digital ones. But being purely digital, for most businesses in Nigeria and expecting to see success, is an illusion.
Join Tekedia Capital and build Next Africa with min of $10,000 in startups.