@nubikayode shares lessons from his time at running EasyAppetite. This is a unique perspective as most people just hide behind something new and wait for us to forget. Nubi’s lessons are key for the ecosystem. Like this one
- Gave equity to all and sundry
EasyAppetite had 5 co-founders at the time we decided to turn off the lights. One founder had the idea, I then joined to validate the business model, we later got two more founders to build the product, and a final founder to help manage all our processes.
Don’t get me wrong, from a functional point-of-view having a team of 5 was solid, but if I was to do it again maybe it’d just be 2 co-founders and 3 first-hires who’d get a reasonable amount of equity, nothing close to the 35% that had to be let go.
7 lessons from failing at Nigeria’s first online takeaway site