For a number of years, my wife and I have been running our Nigerian startup pretty much remotely from the UK in a hands-off manner.
The idea to kick off was conceived in 2005, not too long after being made redundant from the software company I was working in.
The idea was to create a company which worked in the location area using technologies such as GPS. Using the telecommunication infrastructure in Nigeria which was getting increasingly reliable seemed to be a no-brainer.
We chose to focus our work on providing products and services in two areas:
- Create a Satellite Navigation product for Nigeria using locally-sourced map content providers
- Create a service available to businesses and consumers using the best of breed vehicle tracking systems we could buy, borrow or build
After some diligent searching, we found third party suppliers who were willing to partner with us to build a business in both these areas.
When we launched the business in 2008, our main focus was on the first area but the market soon made its choice. The area of most need was in the tracking services area. But this areas was a free-for-all for all manner of companies flooding the market with cheap chinese imports and sub-standard quality products and services.
We found we were pitched slightly higher than the norm. We tried to reason with our suppliers. We were paying first world prices in a third world environment. Our clients love what we do but need to do it at more cost-effective and sustainable level.
So the plan is:
- Re-evaluate our current business model
- Identify all areas with a critical eye with no sacred cows and provide a roadmap for moving forward
- Translate that into a blueprint that we can realise daily goals and objectives from
- Build a world-class company using home-grown talent while remaining truly Nigerian at heart
We will be sharing the story on these pages for posterity's sake. If we succeed it will be a great story. If we don't , it will still have been a great ride!
I'll leave what I actually define as success for a later day.
'Toye
