Following iROKO apparent success at the time, everyone just got hit instantly to start media startups. I think it was the time we had floods of nollywood channels on Youtube. Everyone was just building iROKO clones without proper thought just because they’ve heard/read some stories. Then gaming and music startups started to look like what to explore next.
This is the problem with extending a pattern without considering or thinking of the specifics. 2014 was a year of music startups in Nigeria. A new music startup every week. 2015, e-commerce. We should have like 50 of those now. Now everyone is going payment. I just hope we get it this time. Build a business not because it’s a trend but you really, really know what you are doing, and intentional about it. Revenge businesses hardly work. Because it is reactionary. It is not intentional. Also businesses by trend.
Always ask: why do you want to do this? do you really, really understand this business or you just want to play yourself like football?
Be honest. Be true to thyself. You can bullshit everyone but don’t bullshit yourself.