IbridgeHub, foremost Tech Hub in Ibadan Oyo State held the 2nd edition of its monthly Open House at Nustreams Conference Centre Km 110 Abeokuta Road, Alalubosa GRA Extension, Ibadan today. It was a real eye-opener for all those who attended.The theme of the event was Startups: Challenges and Opportunities. The guest speakers were Christian Keller, the Chief Executive Officer of Africa Founders, a former Managing Director of CarMudi Nigeria, (Now Jumia Cars) and Abiodun Makinde the Chief Operating Officer of Africa Founders and former Head of Marketing and Strategic Partnerships at CarMudi.
Keller and Makinde shared a huge amount of insight with the people who attended the event some of the key take aways are:
-Entrepreneurs shouldn’t have the mindset for profits but to create a lasting solution to problems.
-Have something else you do for profits, that you can then funnel into your startup idea
-It takes about 6-7 years for every startup to become profitable.Be patient
-Make sure you exhaust all the resources and values a city has to offer before you expand into aonther city.Also you make sure you leave that city a champion before expanding into the next city
-Every business and its audiences has its peculiarities,get to understand yours and adjust your business model towards that.
-Customer feedback is essential to every startup. Research, get feedback and use that to adjust and tweak your business model.
-Instead of thinking of creating a completely new idea, develop and buld on an already existing and sucessful idea. An example is Apple, who are not the original innovators of laptops or smartphones,but built on an already existing platform,.They developed and offered something better than the rest, and that put them up there.
-After researching, tweaking and working on your business model,and it still not working,throw it out and move on to something else.
-Don’t feel bad when your ideas do not work out, sometimes it might be that you have started a few years too early and now is not the time for that particular idea to work out.Move on to something else and pick it back up when the time and the opportunity comes up.
-Learn to leverage on already existing platforms like Facebook to grow and build your business
-Don’t just expect your market to understand and immediately want what you are offering, but learn to educate your target about your product and why it’s useful for them
-When pricing your product or service, find a middle ground between quality and affordable.
After the two speakers had shared their various experiences, there were opportunities for members of the audience to ask them questions and the members of the audience took the opportunity to discuss the challenges they have managing their startups or working at their offices with the guests.
After the Question and Answer Session, a member of the IbridgeHub projects team, Adebayo Adegbite took the opportunity to talk about Ibridge Hub and some of the Startup ideas that IbridgeHub is currently working on, chief among them is Digiworka.com, a platform for freelance job seekers.
Finally the CEO of The Bridge Network, Pastor Francis Madojemu appreciated everyone who came to the event, he took the opportunity to share some of his thoughts on everything the two guests have talked about, He also took the opportunity to talk about Nustreams Centre’s facilities. He concluded that the hub and the centre is always open to everybody who has good progressive ideas.