We made many mistakes from pricing, to generating revenue, marketing, team building, fundraising, equity sharing model, etc. What kept us going, however, was a passion to build something, although we realised rather quickly that passion alone cannot scale a business.
And building a business in Nigeria/Africa is different from building in the US or UK. I remember one time I explained convertible notes to a lawyer, he found it hard to understand the concept of an investor giving you money without you issuing shares.
Fast forward to two years later, we have learnt a lot from personal experiences, mostly by trial and error. Because of these experiences, we thought to ourselves that there really should be a school where African founders can train young African founders, to prevent them from making mistakes common to upcoming entrepreneurs.
This birthed the idea for a startup school in 2016….