How To Overcome The Challenge Of Scaling Your Startup In Nigeria: A Must Read
Scaling your startup in Nigeria to that height you have seen and visualized in your mind while starting can be challenging but not impossible. All it takes is your determination to see it through and the resilience in the face of discouragements and setbacks. The only difference between your startup and that successful company you admire is time and experience. It is also important and necessary for you to know that there certain factors that play a big part in how that company grew to be successful.
Also read: how to get funds for your startup
Factors like good timing, the right team, focus, hard work, etc are the determinants of success for any startup business venture. So, in the course of scaling your startup, you will ensure that the aforementioned factors are in play as well. You must remember that all the big and successful companies you see today were once a startup.
Although the statistics and researches inform you that the odds are hugely against you in Nigeria, your decision must be never to relent until you are up there. You can consider the story of Jumia that has been dubbed the Alibaba of Africa. They started pretty the same way you are working on scaling your startup. As an entrepreneur, you should always motivate and inspire yourself with the Jumia story.
As an entrepreneur who is looking into scaling your startup and taking your business to the next level, this article provides you with tips on how to achieve your goal.
How To Overcome The Challenges Of Scaling Your Startup
As an entrepreneur that is working on building a startup from scratch, there are certain things that you need to put in place if you are to achieve your goal. These important tips include the following:
Ensure your business process is as simple as possible
It is a fact that businesses slow down as a result of complex processes which in turn inhibit growth. Complex business processes lead to more meetings, more communication with the customer, and many people in the workflow as well as more cogs in the operational process. Complexity is the key factor that slows progress and impairs your business during the scale-up process.
You tend to battle business complexity as your product evolves, business strategies change, and organizations grow. Ensuring that your business process is simplified to the barest minimum is a major challenge you must encounter while scaling your startup in Nigeria. As the founder of a startup, you need to be aware of the growing business process complexity, its impacts and how to mitigate them efficiently.
Get the best team involved in your business
As an entrepreneur and the leader of a startup, you need to ensure you hire the best hands to be part of your business. Without a good team, it will be impossible to successfully scale up your company. Having capable hands in handle certain affairs in your business gives you ample time to get involved in order important administrative works.
You should not sit back and tune out simply because you have a good team. When you are aware of the happenings in your business, you stand a better chance to anticipate a need for change and adjustment.
Win where it matters most
In business, winning the heart of your customers is as important as creating a valuable product. No matter how well you have built your startup, if you don’t have a good customer perception then all you have done is null and void. You need to know that in business perception is often more real than reality itself and customer’s perception can make or break your startup.
Whatever you do, ensure you win the love of your customers. There is no alternative to the aforementioned rule. If you fail to win the love of your customers, your business is as good as dead and there is no remedy to that. In order to win the heart of your customers, you don’t need to completely restructure your business model. The one thing that you must do is operate in a way that anticipates your customer’s needs. By so doing, you stay with them beyond the point of their first purchase.
There is no shortcut in scaling your startup
Oftentimes, young entrepreneurs think that they can take shortcuts in order to attain their goal easier and faster. Let me tell you this, if you make the mistake of using shortcuts, your business will suffer the consequences in the long run. Unless your goal is to cripple your business, you must avoid shortcuts; in fact, you need to run from them.
Whenever you take shortcuts, you make costly compromises that will definitely ruin your startup in the long run. You should never compromise the ethics, values, and integrity of your business at the expense of your customers and employees.
Everyone needs help
Make no mistake, in business everyone needs help and that includes you. Most times, you see rising and young entrepreneurs shying away from seeking help. Let me tell you this, it does not imply that you are weak when you ask for help. It only means that you don’t want to learn the hard way by doing the wrong thing.
You mustn’t seek out angel investors in Nigeria or seek to seek funding for your startup business. In fact, there are lots of angel investors and venture capitalists in Nigeria but I am not asking that you seek help from them exclusively. Going to a more experienced entrepreneur for advice is also a form of “seeking help”. Help does not necessarily mean looking for seed fund for your business. You can’t be an effective leader in your startup business if you believe you have all the answers. If you look into the life of successful entrepreneurs, they are those that were bold enough to seek help in areas that they know they were deficient.
Overcoming the challenge of scaling your startup in Nigeria is rooted in your ability to adhere strictly to the aforementioned tips in this article. The one thing you must have at the back of your mind is that great things started small and you must never look down on yourself. Believe you can do it. Put in the work, be resilient and then watch your startup grow to that enviable height that keeps you awake all night.