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AWS Women’s Day Lagos Nigeria

Oluwadamilola Elizabeth

A certified content writer and social media manager. I help companies, brands and business owners create engaging Content for their target audience. Content writer at Wazoplus  Nov 15, 2023
AWS Women’s Day Lagos Nigeria

Imagine been in a startups meeting that is happening simultaneously in New York, San Francisco, Berlin, London, Johannesburg, Bogotaand so many other locations. On November 8, at the Zone Tech Park, the vibrant venue for the AWS Startups Women's Demo Day in Lagos, became a hub for innovation and inspiration, hosting an event in collaboration with Ajim Capital under the theme "Unleash the Future." Although the scheduled start time was 10am, the engaging event didn't kick off until 10:45 am. 


However, this delay turned out to be a blessing in disguise as it provided attendees with an unexpected opportunity to network before the breakfast.


The agenda for the day included enlightening fireside chats with accomplished founders, investors, and Napa Onwusah. The discussions unfolded key lessons for aspiring female founders and these lessons are:


1. Customer-Centric Focus:  Founders were reminded of the paramount importance of understanding and aligning their solutions with customers' needs.

2. Affordability Matters: Consideration for the financial capacity of the target audience emerged as a crucial factor in a business's financial success.

3. Visibility for Success: The encouragement to put oneself out there underscored the idea that increased visibility enhances the likelihood of attracting investor attention.

4. Fundraising Realities: Clear communication and understanding of the fundraising process were emphasized, with the reminder that fundraising is a demanding, full-time commitment.

5. Openness to Opportunities: Founders were advised not to prematurely dismiss opportunities and to remain open to possibilities, even in the face of challenges.

6. Investor Relations: Building friendly connections with investors, seeking referrals, and learning from rejections were highlighted as essential strategies.


The event wasn't just about absorbing wisdom from the fireside chats; it also provided a platform for female founders to pitch their businesses. The remarkable lineup included:


 


1. Chinazom Arinze, Founder and CEO of AUTOGIRL

2. Ifeoma Nwobu, Co-Founder and COO of Sendstack

3. Eunice Ajim, CEO/Founder of Ajim Capital

4. Ashim Egunjobi, Managing Partner at Octerra Capital

5. Patience Adajah, Co-Founder of Passportmonie

6. Rukayat Kolawole-Bello, Co-Founder and CEO of Regxta

7. Foluso Ojo, Co-Founder and COO of truQ

8. Caspa

9. Olajumoke Oduwole, Founder and CEO of Alajo

10. Nana Owusua Adomako, Founder and CEO of ItsPoynt

11. Victoria Popoola, Founder and CEO of TalentX Africa


The event concluded with a networking opportunity and lunch, which provided a space for participants to forge valuable connections and discuss the day's insights. The AWS Startups Women's Demo Day not only showcased the resilience and creativity of female founders but also served as a beacon of inspiration for the next generation of entrepreneurs looking to unleash the future.

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Yes, it was just ₦50 and ₦100 for different sizes, but the Nigerian in me found it ludicrous.


I had never bought a plastic bag at a mall all my life, and I didn’t intend to start then.

I put my bought items into my tote bag and moved on.


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Its aroma gave off a scent of melted butter and vanilla-flavored milk.

I just had to taste that.


I ate the bread and it melted in my mouth. It tasted like it had cream embedded in its recipe.


The warm, vanilla goodness and the buttery sweetness of Bokku bread danced the waltz with my taste buds.


I knew I would always go back for that bread. Bokku Mart had won my soul.


Bokku Mart: The Enterprise That Won Lagosians with Bread.


Bokku has capitalized on Lagosians’ love for bread and placed their malls everywhere.


It feels like a Bokku Mart takes less than a month to get built and working. Because they are almost at every corner of Lagos.


I admire their tenacity and productivity.


They hooked us with their best-seller bread, and never let us forget about it.


Have you tried the Bokku bread before?

You haven't?


Well, take your nylon/cellophane/tote bag and head to your nearest Bokku Mart.


You said you need the address? No, you don't.

Just walk at least 150 steps anywhere in Lagos, and you will see a Bokku Mart.


You can also check their locations posted in their link in Bio, on their Instagram page: bokkumart.


At this time, in May of 2024, Bokku bread weighs 800g and sells at ₦1100.


Hopefully, the Nigerian economy does not make things harder that they have to increase the price.


Amen.


If you want more sweetness out of your Bokku bread experience, I suggest peanut butter or jam.


It pairs perfectly with the sweetness of the bread and bursts into a rainbow of flavors in your mouth.


Have you seen a Bokku Mart yet, then go in with your bags and get that bread.

Especially a warm, soft one.


Could you tell that I am a lover of bread from this article? I hope it was not too obvious😅


I am Lorna Izoma, a content writer, product copywriter, and fiction writer. I have mastered the use of storytelling to convey information and value to your clients.


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Agriculture is the foundation on which humans became more productive, more skilled and more intelligent. In Africa, farming has always been a big part of the economy. It gives people jobs and a way to make a living. But, we could be doing even better. Nowadays, we have to figure out how to feed more people while taking care of our planet. Farming still has some issues, like not having enough good land, seeds, fertilizers, or knowing the best ways to farm


To make farming better and feed more people in Africa, Resorting to modern technologies in the sector of agriculture has become inevitable. Many new companies focusing on agriculture and technology, called agritech startups, have started in Africa. These startups use things like blockchain, drones, sensors in the soil, artificial intelligence, and computer vision to help farmers grow more crops, improve how they sell them, and take care of the environment. They also create digital systems to help farmers find markets to sell their crops, get what they need to farm, like seeds and tools, get insurance, loans, and learn more about farming. All to one end - increased productivity.

As more and more new technologies are used in farming, more agritech startups are starting up. Here is a list of fast-growing agritech startups to watch out for.


1. RoboCare 

This is a startup from Tunisia that helps detect plant diseases early in greenhouses using high-tech imaging and artificial intelligence (AI). Their solutions, Crop-Care and Toma-Care, can spot stressed plants even before pests show up, when infections are easier to control. They use special cameras that capture signals from plants in the near-infrared range to tell healthy plants apart from stressed ones.

RoboCare also looks at recent images from drones, planes, and satellites and uses AI to figure out if there are any nutrient problems, diseases, pests, or weeds in the crops. They then give personalized advice to farmers on how to take care of their land and crops better. By keeping an eye on plant health digitally, RoboCare helps farmers deal with issues before they become big problems for their crops. They also use drones to identify stressed plants and fight against the effects of climate change, reducing costs, crop losses, and water use.


2. AkoFresh

This is a startup from Ghana that helps small-scale farmers prevent their crops from spoiling after harvest. They use solar-powered cold storage technology to keep fruits and vegetables fresh for up to 21 days, which is a big deal for farmers in rural areas who often struggle with crops going bad too quickly. This technology includes special cold room panels, solar panels, sensors, a compressor, and an air cooler, all working together in a smart solar-powered cool box.

This high-tech storage system, connected through the internet, reduces the amount of crops that go bad, allowing farmers to sell their produce for better prices. This helps them earn more money and improves their financial stability. AkoFresh also helps in reducing food waste, which is good for the environment because it lowers the amount of greenhouse gases produced and saves natural resources. Overall, AkoFresh is helping to make food production more sustainable while also benefiting farmers and the environment.


3. AgriPredict 

This is a startup from Lusaka, Zambia, making big changes in agriculture. They use artificial intelligence and data science to give farmers important information they need. This includes spotting diseases, predicting pest attacks, and knowing about the weather. Their goal is to make sure all farmers can easily get the help they need to succeed and do well. They provide services that are personalized to each farmer, making sure they have the support to not just get by, but to do great.

Their main product is a smart platform that uses advanced analytics. It collects and looks at lots of data like weather patterns, soil conditions, how crops have done in the past, and market trends. Then, it uses all this data to make predictions in real-time. This helps farmers prepare for risks, plan better, and use precise farming methods. AgriPredict also sends alerts if there's a disease or pest problem nearby. Farmers can even take a picture of a sick plant and get advice on what to do, including where to find help nearby. They focus on using the latest technology to give farmers the information they need, especially in places where it's hard to get agricultural advice.


4. Apollo Agriculture 

This is a startup from Nairobi, Kenya, that wants to help small farmers in rural Africa succeed. They offer a package of services to farmers to help them improve their farms and make more money. This package includes things like getting loans, getting seeds and fertilizers, getting advice tailored to their farm, getting insurance, and finding markets to sell their crops.

Here's how it works: Farmers apply for these services, and if they're approved, Apollo Agriculture gives them a voucher to use at local stores to get what they need. Then, Apollo Agriculture pays for these items. Farmers pay back the cost of the services after they sell their crops at harvest time. Apollo Agriculture uses fancy technology like machine learning, remote sensing, and mobile payments to make sure they can give loans to farmers who need them and will be able to pay them back. Their goal is to help turn small farms into big businesses by giving farmers the money and resources they need to improve their farms and make more money.


5. Aerobotics

This a startup from Cape Town, South Africa, is making a big impact on agriculture and forestry in Africa. They use high-tech methods like aerial imagery and data analysis to make farming and forestry better. By using drones and smart computer programs, Aerobotics helps farmers and foresters take care of their plants more effectively.

Their main products are drone surveys and data analysis platforms. These tools work together to give farmers important information about their crops, like spotting issues that could affect how much they produce. By providing precise and up-to-date data, Aerobotics is helping farmers make smart choices about things like watering and fertilizing their crops. Aerobotics wants to empower farmers and foresters with the tools they need to make farming and forestry more successful and sustainable. Their goal is to help farmers grow more food to feed the world, using intelligent technology every step of the way.


6. Livestock Wealth

This a startup from Johannesburg, South Africa, is changing how the livestock industry works. They're introducing a new idea called crowd-farming, which lets people invest in livestock without actually owning or managing the animals themselves.

Their main product is a crowd-farming platform where investors can buy shares in herds of cattle, goats, or sheep. Livestock Wealth then partners with local farmers who take care of the animals, while investors can keep track of how their animals are doing through the platform. This platform makes farming more accessible to everyone, not just experienced farmers. It allows people without agricultural backgrounds to invest in livestock, which was usually something only big farmers could do. Livestock Wealth is making farming more democratic and giving more people the chance to be part of this asset class.


7. Nambu 

This is a startup from Grahamstown that's using innovative methods for eco-friendly animal feed. They use Black Soldier Fly larvae, also known as BSFL, to turn food waste into nutritious feed for animals like pigs, fish, and chickens. Here's how it works: They feed food and organic waste to the BSFL larvae. Once the larvae are separated from their food, Nambu can sell them directly to local farmers. They also have the option to process the larvae into dried form or meals for the wider feed industry.

By using food waste for insect rearing, Nambu is promoting nutrient recycling and reducing the environmental impact of waste. This helps support regenerative farming practices and creates a more sustainable food system. Nambu's goal is to increase the production of insect protein to make our food system more resilient and sustainable.


8. Thrive Agric

This is a startup from Nigeria that's all about helping farmers connect with finance, top-notch markets, and data. They use technology and business savvy to make sure everyone can play a part in farming and ensure there's enough food for everyone.

Here's how it works: Thrive Agric gets money from big investors, and then they use that money to help farmers. They provide farmers with good-quality materials, expert advice, automated processes, and machinery to help them grow crops better. At the end of each farming cycle, both the investors and the farmers get decent returns on their investment. Thrive Agric offers investment opportunities that not only make a profit but also have a big impact on farming. Their vision is to make Africa a leader in feeding both itself and the world, one farmer at a time. They aim to achieve this by giving African farmers easier access to money and financial services, so they can thrive in their work.


9. Hello Tractor

This is a startup from Nairobi, Kenya, that's making it easier for smallholder farmers in Africa to access farming machinery, especially tractors. They connect farmers who need tractors with owners who are willing to lease out their equipment. Access to tractors is a big challenge for many small farmers in Africa, but Hello Tractor is helping them solve this problem. Their app works like Uber but for tractors, matching farmers who need tractors with owners who have them available for lease.

Here's how it works: Hello Tractor has a digital marketplace where tractor owners can list their equipment for lease, and farmers can search for tractors they need. Farmers can register on the platform, make pre-payments, and request a tractor lease for a specific date in advance. By providing access to industry experts and infrastructure, Hello Tractor helps farmers simplify their operations, improve productivity, and grow their businesses. They're empowering farmers to diversify and scale up their operations by giving them access to the machinery they need


10. Complete Farmer

This is a startup from Ghana that acts as a crowd-farming platform, allowing people to invest in sustainable farms across Africa. Customers can become "crowd farmers" by investing in these farms and monitor their progress remotely.

They also provide valuable data and information on how to achieve healthy yields and the best farming practices, using a data-driven approach to improve farming scientifically. The startup aims to be a comprehensive platform for everyone involved in the agricultural value chain, including food growers, buyers, and enthusiasts. Their vision is to create a world where everyone can come together to eat by collaborating and working together.


11. iProcure

This is a startup from Kenya focused on improving the agricultural supply chain in Africa. They have developed a digital infrastructure that offers business intelligence and data-driven stock management for small-scale farmers. This helps farmers access markets more easily and avoid losses after harvesting due to supply chain problems.

Farmers can purchase all the supplies they need through mobile vouchers on the platform. Additionally, the platform allows users to manage their inventory and point-of-sale activities. iProcure ensures complete visibility throughout the supply chain, offering alternative distribution channels to ensure products reach consumers without any issues. They provide value to both manufacturers and consumers by offering real-time business intelligence and alternative distribution channels. Their strategically located storage facilities ensure wide access to rural consumers, and predictive algorithms prevent shortages of essential commodities.


12. BioBuu

This a startup from the Coast Region of Tanzania, is dedicated to helping farmers grow healthier and safer crops while reducing waste and dependence on harmful chemicals. They offer organic-based alternatives that are safe, affordable, and sustainable for farmers.

One of BioBuu's innovative practices is a recycling system that uses black soldier flies to transform food and organic waste into high-protein feeds for fish and chickens, as well as compost for plants. They then distribute these products to farmers across the country, promoting sustainable agriculture by turning organic waste into inputs for producing healthier crops. In addition to improving crop health, BioBuu also addresses organic waste management issues and indirectly contributes to reducing methane emissions, making a positive impact on the environment.


13. Victory Farms

This is a startup from Kenya, is transforming white meat production in East Africa. As one of the largest fish farms in the region, the company is using technology to accelerate its growth while delivering top-quality products to customers.

Victory Farms runs a fully-integrated platform that manages every step of the production process, from farming to processing, sales, and distribution. They also have an efficient cold-chain system in place to ensure that their products reach customers and off-takers in perfect condition.

14. Agriprotein

This is a startup from South Africa that deals with organic waste in a smart way. Every day, they take 100 tonnes of organic waste that would normally go to landfills and turn it into something useful. They produce over 2,000 tonnes of a product called MagMeal every year.

Here's how they do it: They use insects and technology to change the organic waste into valuable stuff. This includes alternative protein for animal feed, natural oil for more animal feed, and a soil enhancer. First, they collect the waste from landfills and process it into a paste. Then, they put black soldier flies in special cages where they can lay eggs on the paste. When the eggs hatch, the larvae eat the organic waste and grow. As they get bigger, they turn the waste into protein. After some final processing, they get MagMeal, which is a natural animal feed with 55% protein. This feed is sold to fish farms to help them raise healthy fish.


Conclusion 

The agriculture industry is evolving into the next high-tech sector, and agritech solutions will be essential in addressing the challenges posed by climate change. As demonstrated by the diverse range of agritech startups highlighted above, from sustainable animal health food production to vertical farming and automation, there is immense potential for innovation in this field.

With the growing importance of addressing environmental concerns and improving food production efficiency, we anticipate a significant inflow of venture capital into the agritech industry in the coming years. This investment will drive further innovation and propel the sector forward, ultimately contributing to a more sustainable and technologically advanced agricultural landscape.


Stay tuned for more insights on the ecosystem by following me here on Wazoplus and also on LinkedIn via this link

https://www.linkedin.com/in/favour-rukeme-seven-b53b93293


Favour Rukeme Seven

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In my second year of junior high school, there was an advert by Coca-Cola called “Share a Coke” that was a BANGER!      


This was because of the personalized bottle of Coke with names' inscriptions on it; everyone wanted that.


I can vividly remember a party I attended where I was given a bottle of Coke that had my name on it. At that very moment, I smiled like I had won the lottery. 


I felt so special and appreciated; the feeling was divine. That's what storytelling does to your business.


What is Storytelling in Business?


Storytelling in business is the ability to create personalized and relatable narratives around your business to connect with your audience. 


It goes far beyond stating your features or benefits, but rather, it involves connecting on an emotional level with your audience. 


Your aim is to make your audience feel and take the necessary action.


How to Craft a Compelling Story for Your Business 


Firstly, you need to know your audience because they are the groundwork for a successful business story. You need to know their needs, interests, aspirations, lifestyle, etc., to create a story that resonates.


Secondly, you need to grab your audience's attention by using attention-grabbing headlines and hooks that will keep them engaged until the very end.


Thirdly, the characters in your story should be relatable and should mirror your brand identity. 


They should show the challenges or problems faced and how they will triumph. This will build a strong emotional connection, and your audience will become invested in your story.


Lastly, your story must end with a clear call to action. What do you want your audience to do? Make a purchase, subscribe to your mail, or visit your website?


In conclusion, businesses should include storytelling in their marketing arsenal to create a business that sticks in the minds of their audience and builds a personalized connection.


Stay updated for more contents like this!

#Creatizwazoplus #Creatiz #wazoplus #Smallbusineesses




Chikeka Chidinma

Feb 15, 2024

Startups in Africa are growing daily and to survive the heavy competition, you might want to try a different  approach to marketing strategy, it's known as Performance Marketing.

Performance marketing focuses on measurable outcomes and the impact of marketing efforts on key performance indicators (KPIs) such as customer acquisition, conversion rates, and revenue generation.

Unlike traditional marketing approaches, which emphasize brand awareness and visibility, performance marketing is inherently data-driven, enabling you to optimize your campaigns and allocate resources more effectively.

In this article,I will explain to you in detail what performance marketing is all about and how to mine the treasure in it.

Key Performance Marketing Channels for African Startups

1 . Search Engine Marketing (SEM) and Search Engine Optimization (SEO)

What is SEM AND SEO

SEM (Search Engine Marketing) involves paid strategies to increase a website's visibility in search engine results, using methods like paid advertising.

SEO (Search Engine Optimization) focuses on organic, non-paid methods to enhance a website's visibility in search engine results, improving its ranking through content and technical optimizations.

  • With the majority of consumers turning to search engines to discover products and services, startups can harness the power of SEM and SEO to enhance their online visibility.
  • By targeting relevant keywords and optimizing website content, African startups can improve their organic search rankings and drive qualified traffic to their digital properties.

2. Social Media Advertising.

Social media advertising is the use of paid promotional content on social platforms to reach a specific audience. It involves creating and targeting ads to increase brand visibility, drive traffic, and achieve marketing goals through platforms like Facebook, Instagram, Twitter, and others.

  • Social media platforms have become integral to consumer engagement and brand promotion. Through targeted advertising on platforms such as Facebook, Instagram, and Twitter, startups can reach specific demographics and engage with potential customers.
  • Strategic ad placement and compelling creatives can help African startups amplify their brand messaging and drive conversions effectively.

3. Content Marketing

Content marketing is the practice of creating and distributing valuable, relevant content to attract and engage a target audience. The goal is to build trust, establish authority, and ultimately drive profitable customer action.

  • Creating valuable and engaging content is essential for establishing brand authority and connecting with the target audience. African startups can utilize blog posts, articles, videos, and infographics to provide relevant insights and solutions to their potential customers.
  • By leveraging content marketing, startups can build trust, nurture leads, and ultimately drive conversions through informative and compelling storytelling.

4. Influencer Partnerships

An influencer partnership is a collaboration between a brand and an influential person on social media. The influencer, who has a substantial following, promotes the brand's products or services to their audience, leveraging their credibility and reach to potentially boost the brand's visibility and credibility.

  • Collaborating with influencers who resonate with the brand's values and target audience can significantly impact a startup's visibility and credibility. In regions like Africa, where influencer culture is potent, leveraging authentic partnerships can yield impressive results.
  • By aligning with influential voices in relevant industries, startups can expand their reach and foster genuine connections with potential customers.

Performance Marketing Tips for African Startups

1. Define Clear Objectives and KPIs

  • Before embarking on any performance marketing initiative, it is crucial for African startups to establish clear objectives and key performance indicators. Whether the goal is to increase website traffic, boost app downloads, or drive online sales, having specific, measurable targets is instrumental in evaluating the success of marketing campaigns.

2. Audience Segmentation and Personalization

  • Understanding the diverse demographics and preferences within the African market is essential for effective performance marketing. Startups should segment their audience based on factors such as location, interests, and behavior, and tailor their marketing messages accordingly.
  • Personalization can significantly enhance the impact of marketing efforts, leading to higher engagement and conversion rates among different audience segments.

3. Data-Driven Decision Making

  • Leveraging the wealth of digital data available is crucial for informed decision making. African startups should utilize analytics tools to track the performance of their marketing campaigns, identify trends, and gain actionable insights.
  • By continuously analyzing relevant metrics, startups can optimize their marketing strategies, test new approaches, and allocate resources where they yield the best results.

4. Implement A/B Testing

  • A/B testing, also known as split testing, allows startups to compare variations of their marketing assets and strategies to determine which resonates best with their audience. Whether testing ad creatives, landing pages, or email subject lines, this iterative approach can lead to significant performance improvements.
  • By embracing A/B testing, African startups can refine their marketing efforts based on empirical evidence, resulting in enhanced conversion rates and overall campaign effectiveness.

5. Cultivate Brand Authenticity

  • In a crowded marketplace, authenticity is a powerful differentiator. African startups should focus on presenting their brand in a genuine and relatable manner, aligning with the cultural and societal nuances of their target audience.
  • By embodying authenticity in their messaging and customer interactions, startups can foster trust and long-term relationships with their audience, driving brand loyalty and positive word-of-mouth referrals.

6. Leverage Local Context and Cultural Insights

  • Understanding the nuances of local culture, language, and consumer behavior is paramount for success in African markets.
  • Performance marketing strategies should be crafted with sensitivity to these elements, resonating with the target audience on a deeper level.
  • By incorporating local context and cultural insights into their marketing initiatives, startups can build strong connections with consumers, positioning their brand as a relevant and trusted entity within the African landscape.

7. Embrace Mobile Optimization

  • In many African markets, mobile devices are the primary means of accessing the internet. As such, startups must ensure that their digital assets, including websites, landing pages, and advertising creatives, are optimized for seamless mobile experiences.
  • By prioritizing mobile optimization, startups can maximize their reach and engagement, catering to the preferences and behaviors of the mobile-first African audience.

Feyikemi Oyewumi

Feb 12, 2024

It’s the end of business for the year, and you’re tired of handling marketing, business development, strategy and being the Chief-Do-the-most-officer all in one.


Now you make a promise to yourself that you’re hiring next year. And it better be a ‘great marketing talent’.


Well, that’s why this article is here. To share helpful tips on hiring the right marketing talents for your business.


Because we know that marketing plays a pivotal role in your startup’s success; having helped many organizations find the right marketing talent with Hirefoster, we made this a wholesome digest for you.


Read more: https://zedipadi.medium.com/tips-for-hiring-great-marketing-talent-a-guide-with-hirefoster-7f28a8c63a59

Onyeka Ekwemozor

Nov 28, 2023

It takes careful balancing to go from surviving to succeeding in fundraising in the hard world of entrepreneurship. In order to actively engage with potential investors and manage the day-to-day operations of their businesses, founders frequently have to sacrifice personal time, including holidays.


Sharing their firsthand experiences at the AWS Women's Demo Day in Lagos was Eunice Ajim, the founder of VC firm Ajim Capital, who moderated the discussion. Founders shed light on the nuances of fundraising. Omoyeni Olulana Co-Founder/ Head of Growth at Flex Finance said before seeking to convince others, one must first convince themselves. This self-belief is essential for effectively communicating ideas and attracting investors. By putting oneself in the shoes of potential investors, one can critically evaluate their own idea and identify its strengths and weaknesses. This clarity will lead to more persuasive and confident pitches.


Also, understanding the ideal investor profile is crucial for saving time and effort. By identifying the types of companies that these investors typically support, founders can tailor their approach and messaging to resonate with their target audience. It is important to remember that investment is a relationship, not a transaction. Investors seek to partner with founders who share their vision and have the potential to deliver value.


Furthermor, knowing your ideal investor and speaking their language will significantly increase the chances of success. Generic emails and pitches are less effective than personalized communications that demonstrate a deep understanding of the investor's interests and priorities. The ability to connect with investors on a personal level and articulate the shared vision for the business is paramount to securing funding and building lasting relationships.


The discussion shifts towards valuable advice for startup founders navigating fundraising challenges and sustaining their companies. Chioma Okotcha Co-founder/COO at Payhippo stresses the pivotal role of monitoring operating costs at every stage of business, from payroll to technology expenses. Entrepreneurs are urged to make informed decisions daily, maximizing the utilization of available resources.


Damilola Olokesusi CEO/Co-founder at Shuttlers, echoing the sentiment of going back to basics, encourages founders to reassess their pricing strategies and operational costs. The scenario of a world without further investments prompts a creative shift, pushing entrepreneurs to strategize for survival. The emphasis on recurring revenue and understanding customer needs emerges as a strategic approach to ensure sustained profitability.


Chioma Okotcha further highlights the importance of speed in shipping innovations because according to her it is what will retain the essence of a startup as a fast-growing business.


Conclusion

The important takeaway from this fireside chat is that adaptability, strategic cost management, and continuous innovation are essential for founders to not only survive but thrive in the fast-paced world of entrepreneurship in 2023 and beyond.

Oluwadamilola Elizabeth

Nov 23, 2023
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