The Biggest Mistake I See Aspiring Entrepreneurs Make

As someone who's coached numerous budding entrepreneurs, I've noticed one mistake that comes up time and time again: the pursuit of perfection before launch.

In Nigeria, we have a saying: "Make sure your wrapper is well-tied before you step out." While this is good advice for dressing, it can be detrimental in entrepreneurship. Too many aspiring business owners get stuck in the planning phase, tweaking their product or service endlessly, waiting for the "perfect" moment to launch.

But here's the truth: in entrepreneurship, perfect is the enemy of good. The most successful startups are those that launch quickly, learn from real market feedback, and iterate rapidly.

I met someone who wanted to start a healthy meal delivery service. She spent months perfecting her menu, designing fancy packaging, and creating a sleek website. But when she finally launched, she realized that her target market was more interested in affordable, locally-sourced options than the gourmet meals she had planned.

Contrast this with another acquittance who started a similar service. He launched with a basic menu and simple packaging, delivering to just his neighborhood. But he was able to quickly adapt based on customer feedback, refining his offering and gradually expanding his reach. Today, his business is thriving across Lagos.

The lesson? Launch before you feel ready. Your first version doesn't need to be perfect; it needs to be out there.

This "launch and learn" approach is particularly crucial in Nigeria's fast-paced, ever-changing market. By the time you've perfected your idea, the market may have moved on.

Moreover, launching early allows you to conserve resources. Instead of pouring all your capital into a perfect product that the market might not want, you can invest gradually based on real customer needs.

Of course, this doesn't mean launching a subpar product. Your offering should be good enough to provide value and gather meaningful feedback. The key is finding that balance between quality and speed.

So, to all aspiring Nigerian entrepreneurs: don't let the pursuit of perfection hold you back. Take that idea you've been nurturing, create a viable version, and get it out into the world. Remember, it's easier to steer a moving vehicle than a stationary one. Your business journey begins with that first, imperfect step.

Yours Truly,

Chito