@wandyvirus - Ayọ̀wándé Adálémọ 🇳🇬
You see, this thing called entrepreneurship is not just about books alone. Not SWOT, not MRR, ARR, etc.
He simply didn't understand the industry he chose and who the power brokers are. He saw NURTW as louts and a threat instead of collaborators or competitors.
Either view would have helped him.
I remember @tokeeto of @foundingLAG, we had meetings with NURTW and RETEAN because they OWN the routes. We travelled to the capital of NURTW (ìbàdàn) and had first-hand experience and advice from Auxiliary and other excos.
They pivoted their business model.After then COVID19 struck.
When I read things like this that put the blame squrely at the government door, I ask, is the NURTW not a key member of the NLC? It is a member of a significant trade union.
In my own line of business, securing my asset is a big task as they are mostly outdoor and subject to vandalism.
We organised the street to protect those assets. I am not going to cry about government, speaking plenty English, I know that doing business in Nigeria is not a behind-the-desk-I-have-an-app thingy.
6 months into operations he is throwing in the towel.
It is beyond technology or MBA buzz words. Businesses anywhere in the world are either the blue or red ocean. The red ocean is harder still.
Big shipping lines have to deal with things like pirates.
In Mexico, they have to deal with the ever-present kidnapping and insecurity.
In Iran, in Iraq, Afghanistan....these businesses know that an MBA class will not work when a push comes to a shove.
In Nigeria, if you don't get it, don't do it. You can not be Ajebutter and think everyone else is.
One meeting could have changed a lot of things in his favour.. just one meeting.
Case in point @touchandpayme the owners of @paywithcowry.
They will start powering payment for yellow buses in Lagos. That's over 12 million trips...each month!
We arrogantly write off our collaborators and then turn around and cry about @followlasg.
It is business silly! It is tough. It is Nigeria, and that is a reality we all have to deal with.
In almost every sector you have their type. At least NURTW belongs to organized labour.
How about those gangs that don't belong anywhere? Just murderous boys who damage at will?
Yet we deal with them. We have them on our payroll and get security reports from them. We hired a supervisor who coordinated and ensured our infrastructure was not vandalised. It works.
I can come on social media and cry that my fibre has been cut or our access points have been destroyed or our solar panels gone. I can write an epistle on how government is the problem.
I choose not to do that. I braved the odds,rolled up my sleeves and get in the ring. There are days I get into fist fights when they become unreasonable.
But the market is worth it, the experience is out of this world. The reward is unquantifiable.
Bàbá Ìjẹ̀bú pays Nm each year to secure his gambling booths. Each....year
Ask Bet9ja, ask @akinalabi of Nairabet.
It is the reality of our society and it is not sad.
If you are putting boots(physical and human assets) on the streets anywhere in the world, you face brutality. Ask restaurant owners in Tottenham and ask how they cope with "men dem".
How much do they pay to the mobs?
It is not strictly a Nigerian problem it is a problem for anyone putting infrastructure and assets on the ground.
Otherwise, stick with the app (call it fintech, edtech, anytech),figure out customer acquisition product/market fit and all the startup buzz words. You will be fine.
If you don't have the heart for it, stay away from the streets.
By the way how is @Shuttlersng doing it?
NB: I also have a failed startup where $3m went down the drain. So I am speaking from both perspectives.
