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  • By Coinbox Limited
  • April 12, 2024

Are you an entrepreneur or a Naijapreneur?

In the beginning of time God made man, this was an act of creation making God the first creator when God made us, He made us in his own image, and to be like him that means if you are a human made by God you are a creator it is in you to create things. You have what it takes to make something out of nothing, this is what an entrepreneur does.

An entrepreneur is a creator, he births ideas, creates them, and gives them life. Running a business makes you an entrepreneur, doing that in Nigeria makes you a Naijapreneur.

As a Naijapreneur, your first job is to follow all the rules of entrepreneurship; have a business plan, have an idea, get funding, do your taxes, hire staff, set up systems and structures and every other activity required in entrepreneurship, then turn it all upside down and find a balance.

The Nigerian economy is hostile to the startup and small businesses, but those businesses that gets out of the pot of crabs is lined up for great success.

In the market where crabs are sold, many of them are put in a pot and the pot left open because anytime one tries getting out, one or some of the others will pull that crab back in. In the Nigerian scenario, even the pot (which represents the government) will join in pulling you down.

But this narrative should not stop you because so many companies have passed through this and have succeeded outstandingly in this same economy. From series of interviews and research of some of these companies, their success ingredients have been:

1.  Working with competent consultants (like Coinbox Limited)

2.  Working with mentors (in Nigeria we say “follow who know road ‼!”)

3.  Innovation and creativity (it’s never business as usual)

4.  Strong Financing and capital (equity, debt, or both)

5.  For every scenario, have a plan B, C, D, E

6.  Competency

7.  Strong leadership skills

8.  Marketing prowess

9.  Tenacity. You need grit, be broken on Thursday, but return to work on Friday fully fired up and ready for another round.

10.               Strong focus, stay with that one idea till it sets and can stand alone before looking at others, having more than one at once can be distracting and none developmental.

11.               Design your business with a strong ability to scale

12. The God factor. This is the third force, the unseen hand pushing and pulling you to get ahead. This is what stands or remains when all else fails

There is no legal business that cannot succeed in this clime, just that they all have multi-varied gestation periods in line with their economic realities and environmental challenges.

Return on business investments in Nigeria despite all the challenges is one of the best in the international market today, just that it is not for the faint hearted.

Succeeding in business in Naija requires you upgrading from Entrepreneurship to being a Naijapreneur.

To the Nigerian entrepreneur I say Hurah‼! You will get there.


Ayo Emakhiomhe


Coinbox Limited

A Management Consultancy, SME Business Development & Support Company, And HR Consultancy.

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