I had the pleasure of sitting down with two?creative ventures currently undergoing incubation?@MotivUG together with our partners?@africreative @afd who we are humbled to be working with.
We discussed startup growth and existing gaps if we are to achieve scale. Here's my 2 cents to scale-up.
- Africa is the frontier - not your country; build with a mindset of scale and focus on building for Africa; beginning from Uganda. Many startups build only for Kampala and have not anticipated going to other Ugandan regions, how then shall we spread to East Africa, or tap into?AfCFTA?
- Identity: Who are you and what makes you different? Your unique value will take time to identify but once you do, it's easier to map the type of partner or investor you need. This saves you from multiple unnecessary conversations.
- OPM: Leveraging partnerships for everything you need, OPM stands for Other People's MANAGEMENT, Other people's MARKETING, Other people's MONEY, other people's EVERYTHING. Don't?go at it alone!?
- Know what capital is right for you & understand how funding works. Raising capital is not an accomplishment, it's an obligation. Avoid the wrong type of capital just because you need money, it will throw you off your path.?
- Solve big sticky problems: The bigger & more relevant the problem you are solving is, the easier it will be for you to attract partners, talent and supporters.
May the hustle be with you.
#Keepbuilding #Inchbyinch #MaketheFuture #Entreprenuers #StartUps #Motiv #TheInnovationVillage #HappyNewWeek
