/ Business & Money / Key Insights From Sim Shagaya, Jason Njoku, Ayo Adewunmi and Tayo Oviosu

Key Insights From Sim Shagaya, Jason Njoku, Ayo Adewunmi and Tayo Oviosu

A Conversation With
oluSunYAh on December 15, 2014 - 6:44 am in Business & Money, Entrepreneurship, News & Media

‘A Conversation With…,’ an interactive session as organised by the Co Creation Hub Lagos had in attendance Sim Shagaya, Founder & CEO, Konga; Ayodeji Adewunmi, Co-Founder & CEO, Jobberman; Jason Njoku, Founder & CEO, iROKO and Tayo Oviosu, Founder & CEO, Paga.

The session provided young startup founders and aspiring founders an avenue to ask and get responses to questions about entrepreneurship and growing a business venture in Africa.

The four panelists shared their experience in the brutal world of entrepreneurship – from launching and growing business in the country to sourcing fundings. So I have captured some of the top thoughts from the conversation at the event:

Photo: faithie/Shutterstock

Photo: faithie/Shutterstock

Idea

“Nothing drives me more than people telling me that something is impossible” – Sim Shagaya

“It is very possible to build a startup with little experience or knowledge about the sector, or little or no connection” – Ayodeji Adewunmi

“You cannot fake passion for an idea” – Sim Shagaya

“Passion is a sexy way of referring to an entrepreneur’s interest in his idea, it’s actually an obsession” – Jason Njoku

A startup

Funding

“Funding is easy but getting the right talent is key” – Jason Njoku

“In seeking funding, talk to people who really know you and believe in your passion” – Tayo Oviosu

“People don’t back idea, people back people” – Ayodeji Adewunmi

“Investors are not your friends, they are just your investors” – Jason Njoku

“Take time to first interview your potential investor before going for his questions” – Sim Shagaya

Repair

Talent

“Understand your business environment, your customers: you really don’t need coding experience to start a tech startup” – Sim Shagaya

“The worst kind of entrepreneurs are the ones that already knew what you are about to tell them” – Sim Shagaya

“As an entrepreneur, you can’t grow without people” – Sim Shagaya

“More people have actually worked with one startup or the other before ending up creating one” – Jason Njoku

More than baggained for - ComedyOrTruth

Business Environment

“It’s tough and rough out there and most would not survive it” – Jason Noku

“Go for what you are genuinely passionate about, that’s what will keep you going when it gets tough” – Tayo Oviosu

“Don’t try copying foreign business model” – Sim Shagaya

“Technology is only an enabler” – Sim Shagaya

“The most important virtue is courage, it would keep you going when things aren’t as expected” – Ayodeji Adewunmi

Aside the above, one key part that the four founders keep hammering on is that if an entrepreneur must do without external funding to grow a business, he should do and if otherwise, caution must be applied.

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