Comments on: Diary of an Under 30 CEO: It is Easier to Make Money Here

By: Patrick Tasiyana

Patrick Tasiyana — Mon, 18 Feb 2013 16:29:16 +0000

That’s cool

By: Bafana

Bafana — Mon, 18 Feb 2013 11:20:57 +0000

Great article indeed.

By: Soumyadeep

Soumyadeep — Wed, 06 Jun 2012 10:58:45 +0000

This is a great article Jacob!! The maths of selling N10 worth of product to 10 million people also sounds great.. however, the reason that not many companies dare to tread this path is because of the increasing margin pressures!! It becomes increasingly difficult to sustain one’s growing turnovers YoY & then the organisation’s who cater to Sec A & Sec B of the food chain come out winners!! They play around in a niche market catering to the ever growing middle class & semi-urban individual & keep the flag high owing to descent margins!! True, that both the models will co exist & continue to grow, for example, Coke also continues to grow its volume vide the increaing PCC every year, so does Red bull by catering to the ever growing & aspiring middle class!! Your article stands true not only for Nigeria but for all growing economies!! Hope to see more of your work… Best Luck!

By: yinka adelani

yinka adelani — Wed, 18 Apr 2012 16:42:29 +0000

Nice piece! Keep the plane flying

By: Paul

Paul — Sat, 14 Apr 2012 12:43:09 +0000

Well said. that advice from your mentor was short, simple and useful as advice from all practically successful men are

By: Denis kingori

Denis kingori — Tue, 03 Apr 2012 20:31:23 +0000

True inspiration to a young entreprenuer like me.
Thanx alot.

By: Victor Asemota (@asemota)

Victor Asemota (@asemota) — Sat, 17 Mar 2012 18:09:27 +0000

The 1 Naira to 1 Million option is not only about BOP economics but about sustainability and “Value Innovation”

You cannot consistently sell 1 Million Naira goods to a market where there are a finite number of millionaires and except the person is a scammer there is no real guarantee that something sold for 1 Million or to which a value of that magnitude has been attributed has a relatively lower cost of production than a 1 Naira product.

Value innovation is about delivering beyond customer expectation consistently and sustainably. A one Naira product may not really have a higher cost of distribution if you have one million of it at one location where more than a million people need it and have access to it.

The operating word here is “need”. I may want a BMW but I will “need” to drink water. If a person brings it closer to me annd does not charge an arm and a leg I will always drink water until I can afford a BMW.

There are many economic arguments but ultimately a business exists to scale and be sustainable. There is more room to scale and be sustainable starting from the bottom while working towards the top than vice versa. You will still have your revenue base while you strive for quality customers who move up the Maslow’s hierarchy. China has learned this well.

By: Sheyi

Sheyi — Fri, 16 Mar 2012 20:04:00 +0000

Jacob,

this is a nice article and very thoughtful one as well.

I actually had a chat with a Nigerian on twitter who blames the govt on to the reason why Entrepreneurs are not making money in Nigeria.

Since we know the problem of our country and that there is n Govt to help start-ups, its better you start something that does not depend on the govt.

Sheyi

By: Ronald

Ronald — Fri, 16 Mar 2012 19:45:57 +0000

Great read, Jacob. Great read

By: Asoto Adeola

Asoto Adeola — Fri, 16 Mar 2012 19:38:06 +0000

Good read… @femi I d agree with your opinion and shedding light on the pros and cons of both method. Its about deciding whether to go B2B or B2C at initial stage of conceptualising your business. At the end of the day, I guess what matters is the bottomline. PROFIT

Thumbbs up Ajayi.