From what they used to be and to the point they are now: Apple, Facebook, and Amazon were once startups, but are now among the top 5 biggest business names in the world, bigger than Shell, Mobil, or General Motors.
Ubisoft Founder, Guillemot Invests in Nigerian Startup, ‘Kwik Delivery’
BlackBerry was also a startup but I won’t bother to tell you that story… How many people have a BlackBerry on them? A show of hands [no hands]…this paints the complete picture of where that company is.
“A startup is a company working to solve a problem where the solution is not obvious and it does not guarantee success,” says Neil Blumenthal, co-founder, and co-CEO of Warby Parker.
“I will say a Startup is an idea, that if well incubated can harness funding from diverse sources and ultimately become a stable business.”
According to Harvard’s Business School, a Startup has to answer these questions.
-
-
-
- Is the invention a disruptive technology? If not, how would it be categorized?
- How soon can a commercial product come to market?
- What is the level of risk associated with this startup?
- Does the technology have clear applications and a definable market?
- Who owns the intellectual property?
- Startup-Entrepreneur-Naira-against-Dollar
-
-
When starting a company, generating funding to support the business is perhaps the single most important task at hand. Before embarking, it is necessary to determine how much funding is required and from where it will come.
The Apple Story: Steve Jobs approached The Byte Shop, wangles a Purchase Order – got parts on a 30-day credit line from Cramer Electronics, and then with Steve Wozniak built and delivered. On that same road, Wozniak sold his prized HP scientific calculator while Jobs had to dispense with his [Kombi] Volkswagen bus.
Angel Investors – a novel and noble phrase. We all know that Angels [should] bring good tidings and we are in December – stressing the point.
Now, I have to paint a personal scenario. When we started PFS in 1994, we had to borrow a laptop; we had a gift of a ream of letter-headed paper and a second-hand car, but more importantly, we believed in the product and knew that it would solve some people’s challenge
“As a Nigerian entrepreneur, funding came from family and friends and 90% of the time, that hasn’t changed in Nigeria.”
“But funding is not the greatest need for the startup but the abiding Mentality of the founders.”
Despite Covid-19 Lockdown, Job Opportunities in France Are Increasing
You are in a race, first against your normal self and then against frustration because if you do not have a tough skin, you will give up.
Your thinking has to change and it does not take brilliance or genius – you have to become agile and hopeful that tomorrow will be better.
And there is no end to Tomorrow
Follow enterpriseceo.ng on Twitter and Facebook to join the conversation.
Do you want us to share your enterprise and brand stories to the world on our platform for effective business leads and returns?
Kindly call this number, +2348063450905 or send an email to news@enterpriseceo.ng.
We will be glad to tell your impact stories.
Follow enterpriseceo.ng on Twitter and Facebook to join the conversation.