In Nigeria, 80% of businesses crash, after the first five years of commencement, due to a lot of factors, but some of the glaring factors include, lack of funds, to ensure scalability, recessions, high taxation, unfavorable interest rates, regulations, poor management decisions, inadequate marketing strategies, inability to outwit competitors, or, lack of genuine interest from the public, in the business’s offerings.
Building up a business is, not an easy task and if one is, not careful, the pressure can be overwhelming enough, for the business owner, to lose sight of the goal and give up, easily. That is why, there is the need for the entrepreneur, to be equipped, with all the necessary skills, to survive the entrepreneurship journey.
As the need to have a training ground, where entrepreneurs are prepared, to conquer the world, becomes more pronounced, then, comes the Founder Institute, Lagos, to the rescue.
The Founder Institute, Lagos, graduated 21 founders out of 44 that, were admitted and started the training of its first Cohort, which ran for 14 weeks.
The graduation event, tagged “Velocity”, took place, at The Commerce House, Idowu Taylor Street, Victoria Island, Lagos, on Saturday, November 16, 2019.
John Obaro, the Boss of Remita, the unique payment gateway that manages the TSA, was on ground, to celebrate the graduates, in a keynote address, giving them his blessings, words of encouragement and advice, as they go forth, to successfully, conquer the business environment, not only in the Nigeria, but in Africa and the entire world.
John Obaro tagged his keynote address, “My 27 Pence”and in his words, “My 27 pence represent my 27 years of running SystemSpecs in Nigeria”.
“You will succeed faster, if you are hungry. Be hungry for success, be Hungry, to make a Difference, be Hungry, to provide a working solution, be Hungry, to make an impact and be hungry to leave a legacy’, Obaro advised the graduating Founder Institute, Lagos founders.
“Spend time, to hire wisely. This may, well be, your most important assignment. Two good heads are better than one. Search for the good heads. Heads that believe, in Results and not Excuses”, Obaro, explained to the graduating founders, on building a formidable team.
According to him, there is, so much, prospects, in Nigeria, for the start-up ecosystem to tap into and that is, why SystemSpecs, is supporting programs like these.
“Solve problems, don’t just build technology. Identify a clear problem you want to solve”, Obaro admonished the graduating Founder Institute, Lagos, founders. This is, so, they will not, just focus on building technologies that will not solve any problems.
“Be aware of trends and adapt your business models and practices to suite same. Relevance is the currency of the digital age. Consistently seek it – through innovation!”, Obaro advised the graduating founders, so that, they will not be left behind as, technology improves and makes what they have developed to solve a problem, obsolete.
“I believe that, they are well-positioned and they just need, all the support and encouragement we all can give. We have, a new set of winners, in our economy”, Obaro concluded, in praise and encouragement of the graduating founders.
These words from John Obaro, will surely, serve as motivation, to the graduating founders, as they step into the real business world, to conquer it.
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