Cregital is a tech startup that collaborates with clients to achieve simple and intelligent solutions through design, branding, website design and development in a quest to reduce the bureaucracy found at traditional agencies by working closely with clients to understand their business objectives and help them grow within their budget.
CEO and Founder of Cregital Evans Akanno was able to educate other startups/entrepreneurs (either growing or in the making) on the lessons he learnt from growing Cregital over the past two and the half years.
14 Lessons which we believe will change your way of doing business or running an organization.
Evans Akanno themed this: How to hack your Nigerian Startup.
How to hack your Nigerian Startup
1. You have raised finance does not mean you should burn cash on a superfly office. Save Save Save from Day 1.
2. You are choosing a location for office and you selected Ikoyi / VI cos you live there while the bulk of your staff lives on the mainland.
3. You are looking to hire the best hands which will cost you soo much money. What you forget is that most people lie on their CV.
4. Be ready to grow your own talent, everyone you hire will not be able to execute the way they sell themselves in their resume.
5. In the beginning, you have limited finance, hire for attitude and train for skill, 80% of people with the skill are very very expensive.
6. Pair your best hands with interns, these people may move on, the interns will learn and keep things going as they grow… its a cycle.
7. Build a people first culture. Good culture will keep your people. Make them happy at work and they will be productive.
8. Your people are growing, never allow them to ask for a raise. Give them before they ask. That’s how they know you actually care.
9. Have a profit model for your startup from day 1. If not cash, users, then cash. Have it in mind and stay woke on that every single day.
10. Don’t spend crazy on marketing. Try to conserve your cost per acquisition.
11. It makes no sense that you launch a billboard when you are strictly an online business. Think organic methods first before paid.
12. With 10+ team members, it means 10 shares on Facebook, Twitter, Instagram and Linkedin. Each of them has at least 2500 friends.
13. If all your equipment and admin costs are high, take them step by step. Maybe 1 air con and then another after some months.
14. Please run on inverters if you can. Generators are cheap but Fuel / Diesel is a slow death.