Is Your 9-to-5 Killing Your Startup?

Hello and welcome to the podcast today. Apologies for any noise in the background because I'm making today's recording at home and I suspect my neighbor is doing some renovations or something. So expect to hear some noise in the background. Now today this is not a topic I normally talk about because, you know, my focus here is sales in particular and, and sales in general and then personal selling in particular. Now, personal selling is any kind of style, any kind of techniques, any kind of philosophy that is involved in helping an individual salesperson, one individual business person.

When you are one-on-one, like intimate contact one-on-one, you're talking to somebody on the phone or you've gone to somebody's office or somebody has come to your office or your studio or you're sending an e-mail or you're in a one-on-one intimate chat with somebody on WhatsApp. Now, personal selling is all the principles, all the tactics, all the dynamics involved that you're going to use to be able to close the sale when you're talking to someone one-on-one.

So yes, while I talk about selling in general and all kinds of selling, honestly, personal selling, that is where my true specialty lies. So you're talking to somebody and you know the conversation don't hook and you want to untangle the thing. You know, that's that's where I do my best. We're trying to figure out, OK, this deal, this deal, this partnership, this whatever, how do we untangle it? How do we get the situation back on the road?

So even though I've done over 1300 and something episodes so far, in fact, I'll be surprised if I've passed 1004, I've always tried to stay in my lane talking about sales and personal selling. Once in a while I move into things marketing related. Once in a while I'll talk about things tech related. But I keep warning you guys, you know, all I know is sales, you know, I don't know tech and I don't know any of these sorts of things.

So whenever I talk about things that are outside of my wheelhouse, outside of my specialty, then please take whatever I say with a grain of salt. Now, because of that, this is one topic today that I've never decided to do a full episode on. And that's and that's this whole thing of you want to do a startup. So should you go all in, like resign your job and then go all in and be full time with the startup? Or can I run this part of start time?

I've never given a full formal opinion on this matter. Although to be honest, my opinion is if you're going to do startup, do startup. If you're looking for part time hustle, do part time hustle, but start up and part time hustle and not the same thing. That is my own personal opinion and that is what I have been advising my clients because there are a number of people who have been reaching out to me to say they want to do startup.

This is their plan. The thing will blow, you know, Nigerian Stock Exchange, London Stock Exchange, blah blah blah, global Unicorn one thing, one thing blah blah blah blah blah. But I meantime, meanwhile, everybody on the team get side hustle, several side hustle, you know, founders in full time employment. Then they started the side also. OK, no problem. All the other partners on the team, all of them, they get work for, you know, other companies,

other whatever. Everybody, everybody in the whole team. I mean, one client of mine in particular, I think they have like, let me say like 8 people on a roster and everybody where they involved everybody there they took and he said another, another something, you know, full time job here part also here, several part horses here and there. But then they're trying to get this startup to work. Honestly speaking, my own honest opinion.

Remember, I'm not a startup specialist. If you all are serious about the startup thing. Because see, at the end of the day and how I put it, OK, you pay my, my fee and I'll tell you the truth, but I will still try and work within the parameters that you've, you've set. But to be honest, a lot of you that are trying to do global Unicorn and you know, one thing, one thing, you know, all these big, big, big ideas now global Unicorn, Nigeria's first billion dollar trillion dollars something, all those, your big,

big, big, big, big ideas. To be honest, those of you who are saying you want to do start up, meanwhile you're working full time for this person and apart from your full time job you have two side hustles. Ha. My own opinion, honestly this thing, it ain't going to work, it's not going to work or even if it's going to work, you are delaying your journey unnecessarily. So my own honest advice is pick a lane. But before I come here I give you my honest advice.

I say, well, let me go on research the matter small so that at least the day that I formally shook my mouth inside this debate, at least let me say something that is educated Abby. So that's what I'm doing here today. If you have a startup in Nigeria, should you go only should you be full time or can you say you have a startup and you are doing your startup part time? So you're working full time in Zenith Bank or you're working full time for OK Chuku and Sons.

Then meanwhile, maybe on weekends or whenever you can sneak out to attend a meeting or something, they will now be building your startup. And you still want to build a global company of international repute that is going to be on London Stock Exchange, New York Stock Exchange, Niger Stock Exchange. You know, Bob, where every Stock Exchange? Is it actually possible? Now, Please remember, I'm a normal Nigerian. Yes, I have a law degree.

I was a lawyer for a while, currently a business consultant, but research is not my specialty. So for those of you who like doing research, maybe you've worked in a media house before and you've been a production assistant and stuff like that and this is your aerial specialty. I beg reach out to me. Let's see if we can collaborate on one or two things because it would be nice if I can make some podcast episodes where we go deep, you know, deep research the thing and go deep and do proper research and give a definitive statement, you know,

on, on some, some matters relating business and different kinds of sectors. So if you have that kind of expertise, reach out to me. You can call, send me a text message or a WhatsApp message on 08064662140. And before you reach out, please also come up with a couple of topics that you think we can collaborate on and then release the Release a Monster podcast episode that when I drop it, you know, can drop all my full chest.

I say this one is authoritative. Like we don't research and die. All right, so now back to this whole full time versus part time debate. So so excuse me. So this whole thing about full time, part time is a matter of there are two factors involved. Number one, risk mitigation #2 momentum. Now, risk mitigation is just the idea that, you know, this place where I'm that I'm going to is like, you know, not be 100%, like there's some risks that are involved.

So that's the reason why people hang on to the job. So, you know, they will not lose, you understand. So if you're working with OK Chuku and Sons and OK Chuku and Sons is paying you salary, you know, 500K every month, the rationale you'll be thinking is not 500 K. You know, it is all one or two problems. If I say, Mr. Okachuku, I resigned, I start up around to where would the 500K come from? You know, the one that is maintaining your lifestyle, you know, house rent, you know, car,

Internet, blah, blah, blah, stuff like that. So risk mitigation. That's one reason why some people say, you know what, let me hang on to this Zenith Bank job or let me hang on to this Okachuku and Sons, you know, job at least down the pay, the bills is keeping me in check, is keeping body and soul moving. So risk mitigation. That's the reason why people they do half, half. But then this is where me, I this is where me, I put my own head, this issue of momentum.

See, yeah, we're trying to grow something that will be big like this, that will blow on a global stage. You need momentum. This thing needs to move. And you can't get something to move when you are half, half. You can't. Today you're working on this. Tomorrow you're working on something. Well, let's have meeting. This person is not available. This person has travelled. This person has. This person has that. OK, Then the meeting that we should have had on Monday, you will now shift it until Friday.

You can see how one week, one week has gone by the time you tally up all these things. We could not meet on Monday. We moved it back to Friday. One week has passed by the time you start doing it for each individual member who is working full time but has to travel with PA. So he has to travel because his PA for chairman or has to do this because of this work commitment or do that. By the time you add it, time is moving.

You are losing momentum. You're not going to build momentum on this. Your idea, all these people that you admire Zuckerberg and you know, mosque and the rest of the momentum quick, quick, quick, quick, quick, quick, quick focus, focus. That's how they get this thing moving or these half, half, half, half, half. Well, anyway, I'd also want to listen to this podcast and say, hey, I'm motivated. And then the one resigned their job.

Then when they're suffering, do now say an establishing matter caused it. So please, I'm not saying resign your job. I'm not saying resign your job. OSHA. Those are the main tensions that are involved. People are trying to de risk you have a salary, it's keeping body and soul together. It's allowing you to pay for your children's school fees. OK, no problem. But I just know that sometimes you can be losing out on momentum.

You're not being able to push your ideas. Well, you can't push your idea very, very well. Now, these are some of the reasons why being a full time, being in your startup full time, not as a part time hustle. These are some of the reasons why is preferred for you to be full time in the startup. Oh, by the way, like I said at the top of the show, yes, I did some research, but remember I'm not a research analyst. I'm not you know, research is not my strong suit.

So just in case I say anything today and the thing no match up, I beg you guys should forgive me whenever I say anything that has to do with sales and personal selling. Forget nothing is gospel truth if I say it and it is sales related, sales related, especially personal selling, personal selling, it is gospel truth. Act on it no problem. I'm giving you a personal guarantee. However, when I start going beyond my area of core competence, you know you shall know me as I have mercy on me.

You know nobody's perfect. So where was I? So these are some of the readings now reasons. So like I said, I spoke about momentum and, and momentum is tied into speed of iteration. Speed of iteration just means, you know, you're working on your startup, you've worked on the app, you've worked on this, but then you know, you launch a beta version and then you get feedback from the market. And so you're supposed test one or two things.

Like one of the clients that I'm working with right now is web developer. They've developed their app that is targeted at Nigerians in the fashion space and we're able to get a couple of people to be part of the beta version. So they've, they've launched the, they've launched the beta version. A couple of people are coming in to test the app and the focus is to see, you know, how many people can we on board, What features do they use?

How soon does anything break, you know, stuff like that. What do people like about the idea? What do people don't like about the idea? Then it's from there that we're going to, we'll know how we refine the offering before we now come up with a paid version. See, The thing is, if you work full time at Zenith Bank, your guy expects you to be on seat by 8:30 and your guy does not expect you to leave your seat before 4, at least officially.

But you know, this is Niger. If you want to stand up by 4:30, your guy will be looking at you like, like young man, where are you going? We're here in the bank. You see all of us sitting down, me or guy, I'm sitting down. You want to close at 4:30 because of what? Even though your employment letter probably said 4:00. So if they have pegged you down on the seat 8:30 to 4:00, how you have time to be doing iteration? You launch the beta version, no problem, everything is working,

no problem. But then the thing breaks. The customers are complaining. Where will you find time between 9:00 and then 8:30 and and 4:30 to plug up the problem? You know, fix the app and then just roll it out again. You can see that speed of iteration. It ain't on the sofa. Momentum. You don't lose momentum. So let's say in the beginning you're able to find 100 people who say oh boy, no problem now I'll help you test your idea.

No problem, SAP is free, I'll be OK, no problem. Then 100 people jump on board. By the time K leg and common starts entering the situation like this, you're unable to plug up the problem, fix the app. Don't be surprised if week 1, you know, boys support you, everybody full ground, 100 people and then by Week 2, only 20-30 people now remain. Don't be surprised because even themselves, they'll be like, what's the point?

You know, they've hopped on, they've tried this app, they've used it, they've had feedback to reach you. You know the answer phone. The only time you're available is 10:00 at night. You know by which time you know 10:00. People want to do other things with their life. You know, you're losing time, speed of iteration, losing serious time. So something that I tell my clients like they would have moved a whole lot faster if you know, but I understand, I

understand there's something that has to be financed, other things, there's something that has to pay the bills. So I understand perfectly well. But just know that by doing these half, half something, you're losing out the speed of iterations because all kind of things happen. Bugs will crash your websites, crash your app. You know, a full time engineer can fix it back, back, back. People can come start complaining by let's say 6:00 AM

in the morning. Engineer receives the reports, you know, quick, quick, quick. Maybe by 9:00 AM the guy don't fix some and then we're back on the road. Excuse me, unlike if it's you, even if people have been complaining since 6:00 AM, best you can do is you work on it from 6:00 to 7:30. But then you know, you gas bath and then report in the office. You can't continue with the coding again until you get home like around six.

You know, you eat something and then you hop on the computer. And then for those of us biggest spouse, your wife will now be saying, look, you're spending more time with the computer instead of spending time with me. And I'm so Cory, go enter the picture. And then before you know it, even though customers have been complaining since 76 AM yesterday, won't be on till next tomorrow, 11:00 PM at night, they now fixes something.

You're losing momentum or you're losing speed of iteration. Those are the reasons why your start up, you know, no, they move, you understand. Then there's also something called switching cost, context switching costs. Now this is something we're familiar with in sales and that's the reason why in sales we do batching, we batch our activities. So if now phone call we didn't make, we'll just pack all the phone calls straight, you understand?

So like if you have 20 phone calls to make, instead of making five phone calls, now you stand up, you go for a meeting, go and do these one days. You come back like mentally, like how do I explain it? Like you suppose reset, like when you're on the phone call mindset, you are in the phone call mindset when you don't go for a customer meeting and you know, stuff like that. That mindset is a separate mindset to just come back from the field and then quickly switch back to the phone call or something.

It, it takes time for most people. It takes time. You need deep focus, You need creative focus for certain kinds of things. So that's why salespeople, we just pack all these things together. OK, Oh, today I have 20 phone calls to make. No problem. I will sit down from 8:00 to 12:00 and let me just bam, do all the phone calls. Then when I stand, I know that OK, no more phone call is to go and be visiting customers, you know, in the shop or, you know,

in the store room or whatever. What shall we pack everything together then if we can? All the meetings that we need to take, You know, if you're going to meet Saudi on Lagos Island, let's say 8:00 in the morning, if you get other two or three prospects on the island that you think you can, if possible schedule the meeting. You know, maybe you see another person 12, see another person 4. You can run it like that. We just bum batch everything like that.

One day is to avoid this whole thing of context switching. So startups, right? You guys are going to be doing lots of creative work, lots of sharp, sharp, sharp works. If you're splitting your brain into two, let's say you're working in Zenith Bank forex department and you're trying to be split in your head, maybe you know, OK, let's say you're disciplined about your lunch break. Although in Nigeria, to be honest, we don't have lunch break.

You're supposed to have lunch break, but honestly, people don't have lunch break. Your lunch break can be 1:00. But if your GM calls you and say Daddy say yes Sir, say come into my office. Will you say, Sir, I'm on my lunch break. That's the joy of working in Niger. But and there was one thing that was a cultural shock for me when when I worked in the UK, like we Nigerians couldn't understand this whole lunch break thing.

So it's time for lunch breaks. OK, sure, no problem. I'm feeling I want to work on this something. After a while, they had to call meeting up and they had to address us. Now look, you Nigerians who have not been taking a lunch break that you are required by law to take your lunch break. You say sure for you. You say yes, you must take your lunch break. It's OK, no problem. And that's how one time I was working and then lunchtime passed like 5 minutes.

My line manager showed up in front of my desk. I said Tavashima, I said yes. I said, are you aware it's time for your lunch break? I said, oh really? Oh, just 5 minutes. Let me wrap this up. Set. No, no, no, no, Tavashima, you have to go for a lunch break. You have to go right now, right now. Come on, come on, Time for your lunch break. OK. And I told myself I like this country lunch break by force. But anyway, Niger, if your lineman says daddy, come here,

you can't say Sir, I'm on lunch break. So assuming you're good and you take your lunch break, you've been doing your normal work and then quickly you want to now switch into CODA mode to bring out your laptop to start trying to solve problems. You know you will take a few. Well, even if it's 5 minutes, 3 minutes, 10 minutes, you just settle down before you can get into coding. Coding focus, remember? OK, where am I? Where's the project?

What's the bug? What's the problem? You know, all that waste of time that is content switching thing is slowing you down. Then there's also the matter of investor confidence. Now, venture capitalists, venture capitalists are people who give you this, this Koody, the ow, the money, the money that you need to get this thing going. So the people that will give you that money and I will invest in your company, a lot of these people.

Are uncomfortable when they hear that you are doing part time, part time, they're much more comfortable when they hear that, OK, this your idea, you leave it, you breathe it, you sleep it. So investor confidence is like is one of those things. So if you're half in half and you're not able to tell the lie, well, you're not you're not able to lie convincingly and they can see through that. You have one leg here and one leg in another.

You know, depending on the circumstance, that might be a problem for those of you who want to raise finance. And funny enough, because I'm not a cultural person, but it also has implications for the culture of a person. Whenever people talk culture, my honest instinct is say, come on, you short of what I say in culture, that, look, I beg, that's just BS. Let's stop talking all this culture, culture, culture, culture. But The thing is, I've come to accept that, you know, culture actually is a thing.

The way that people behave within the company is a thing, you know, the attitudes that they have, the unwritten rules. And you know, I hate to admit it, but all those people who say culture, culture, culture, company culture, they actually are correct. There's a company culture. And when all of you in the company, like I said, it's one of my clients, about 8 of them, it's 9, but that's the company's one. They're all the people where they involved like 8 or 9, but everybody has side horseshoe.

The main founder in fact is highly paid. In fact, sometimes I understand where the guy is coming from because the salary where the guy they collect as incorrect salary. You know that standard of living is high. I said no standard of living, cost of living is high in Niger and the guy is collecting good salary, very good salary. In fact, sometimes I look at him and I say, I suppose resign and you know, follow up on I enter this kind you get as in the money is good mad.

So yeah, they found out that's how it is. He works full time for somebody else, another Nigerian billionaire and then he's now trying to get this business, this start up going on the side. So because everybody is half, half, half, half, I've noticed that there's no common, how will I put it? There's no common culture, no common culture at all. Like what's the workflow? What's the work habits like? There's no Veem, there's no move.

There's no, there's no groove. Everybody's is part time. So when somebody can check in, they will check in. When somebody checks in and they need to check out, they will check out. We can't get a solid team going because everybody's all over the place. But of course, you know, people's livelihoods are involved. So, you know, I've said my own, but I can't go and say, look, all 8 of you go and resign because if they resign now,

who's who's going to be paying school fees? Oh dear. Anyway, so people who say company culture, yeah, they actually are correct. When all of you are part time, part time, part time, your company culture is going to be all over the place, all over the place. Whether you guys are aggressive and all lean or whether it's a laid back company culture or whether it's a work life balance, company culture, something like it's going to be all over the place, all over the place.

However, despite all these issues, because remember, I have told you people that my own personal opinion whenever I'm faced with people like this because I have a few clients who are in this situation. You're building a startup or you're working for somebody else. You're answering yes or somebody else. I decide now this is where I need you to be able to check me, to Fact Check me in case I say anything. And if you know correlate, you understand like it's not correct.

So Fact Check me. I decided to go and check and see. Now, is it possible that there are founders who have built big companies, good companies, international companies, but they were working part time because, you know, since I'm not in the tech space, I just know the same old stories that you guys know. You know, I know Steve Jobs, you know who left? I think he left Atari to work on Apple. Then Zuckerberg, of course, Zuckerberg, you know, get no get job.

But you know, he resigned. I say resigned. What do you do when you're in uni and you you drop out, Abby. So he dropped out or is it Harvard or wherever, Abby Sanford and wherever he dropped out from. So I just know the same old names that you guys know or people who resign company and then back went all in fire much throttle will be this thing. So those are all the people that I know the same old people. So I suddenly go and do research and see whether there are other people who successfully did you know part time, part time.

You answer yes, Sir, And then on your spare time, you go and build your or your your startup. So please, like I said, I'm not a research specialist. So please, I beg anything that I say here with no checkout, nobody's perfect. And please let me know if I fumble on anything. So the episode where I was talking about Nigerian billionaires who inspired me and especially who invested in the Nigerian telecommunications space.

I mixed up two of the of the billionaires. And I really appreciate the podcast listener who pointed it out because it gave me an opportunity to go back and to say, ah, guys, I beg the earlier podcast that I made where I quoted these two billionaires, you know, I fumble and I goof and this is where I goof. So if I goof on this one, I beg you should let me know so I can make a follow up. Basha. The main thing is I wanted to see other other people that are able to do part time, part time who did half and half.

So for those of you who insist on doing half and half like this, my clients that is earning armed robber salary but wants to build a startup, you know, perhaps maybe you can find some inspiration in these people. So first is Craigslist, Craigslist Craig Newmark. So from what I found, Craig Newmark used to work as a programmer with Charles Schwab. I think they're an economic institution or so I need to research it in detail.

Yes, this is the reason why I need a production assistant who is going to research all these things and give me all the facts. No, Excuse me. So Craigslist was a hobby for years before the guy went full time. And the reason why I was able to go full time is because his e-mail list that he started was able to get organic growth, massive organic growth. So that is one situation. But you can see that his own was e-mail lists. e-mail lists, you can maintain it on your own time.

You can show up to work 8:30, you can work until six in the evening. Then you get home and then you eat something and then say, my dear, I beg, I want compose small. And then, you know, give yourself two hours. You get some work done and then by 9:00 you go and meet wifey, you know, Netflix and chill. You guys watch Netflix until 11. If you're lucky, something will happen from 11:00 to 12:00. Then you will now go and sleep and then you wake up and then you start the whole day.

So yes, it is possible in this kind of whatever where the thing starts with e-mail lists first or newsletter first before moving into other things. So yeah, Craigslist, Craig Newmark, that's one. Then Groupon, if I remember correctly, I think Groupon, them, them, they used to these all these people that used to do. I think it was discounting. Yeah, I think it was discounts and vouchers and stuff like that 'cause I heard about Groupon,

but I didn't really see them. In fact, it's not a matter. I didn't really see them. I didn't see them in Niger. I didn't feel the effect in Niger. Yeah. So they, I think they used to sell discounts and stuff like that. And then plus, honestly speaking, I did detest discounting. So anytime I hear any business that is built around discounting, I don't even shook my idea, to be honest. So yeah. Anyway, so Andrew Mason, the founder was working on, OK, OK,

at the time he was also working for a billionaire like this client of mine who's working for one of Nigeria's, one of Nigeria's billionaires then. OK, So for him too, it looks like the thing gained traction very quickly. So he was forced to now jump and work full time. But yeah, Andrew Mason was also working for another billionaire entrepreneur like this, my client. OK, so maybe if you're currently working with a Nigerian billionaire, maybe you don't have to resign your job for now.

Maybe then Twitter. OK, so Twitter, of course, Jack Dorsey, everybody knows Jack Dorsey. But The thing is, Twitter initially was a side project within a bigger company called Audio Audio. That's ODEO. And then Audio was meant to be a podcasting company. So yeah, I'm familiar with that one because obviously I'm interested in podcast, so I'm familiar with that. Back story, I'm coming here at school first because I got some people.

So Jack Dorsey was a full time in audio, the podcasting company, but not audio, not AUD, but ODEO. And then from there, that's when they started Twitter. That has now become X. Then GitHub, founders of GitHub, there's Chris One, Strath and then PJ Hyatt, Tom Preston Werner. OK. They were doing consulting work to pay the bills while they were building the version of the version of the things that would eventually become GitHub.

So like me now, for instance, as I'm doing consulting work, especially when I get to that level where they charge millions, 1,000,000 millions, so I'm charging millions and millions. I can now on the side be now doing my own, my own startup, my own global company. So that's how GitHub them came into the space. Then there's Oculus VR Palmer luck lucky Palmer lucky to be honest for him, you know, not whole VR when people are talking VR, VR, yeah, just switch off my brain at that point.

I'm like, look, you guys are going to sci-fi for a brother. So I just switch off my brain. So yeah, I heard about I heard about the project. Didn't hear about the dude. I think especially when did Facebook buy Oculus? I be Facebook. I think Facebook bought Oculus anyway. So these are the reasons why I need a research assistant. So yes, those are examples just to encourage you to motivate you in case you're doing half and half.

So even though there are some boys like me who'll be telling you that guy, this is not working, you can always look on the Internet and say, if these people make it, so can I. So there's something that can motivate you. But this whole part time, part time thing, remember, for the people that have made it work, it looks like there's the, all I put is like a tipping point, like critical momentum, sort of like the thing seems to be growing organically on its own.

And it's like, oh boy, you know what? This thing, people are already adopting this thing. It's time for me to resign and enter this thing full time and give this thing fire. So yeah, waiting for demand from customers or interest from customers or interest from investors to, you know, to pick up before, excuse me, before you resign. But then again, you know, there are lots of other Nigerian business content creators who talk about these things, you know, tech building start-ups,

things like that. So please make sure you follow those people's podcasts so you can learn some more about this sort of thing. I'm just talking as a humble salesperson here. Then I decided to do small research about Niger to see what has the dynamics been in Niger. And again, this is where I ask for grace. Yeah, I ask for some forbearance in case of my research does not check out. If I make any mistake, please call me and let me know.

08064662140 Call me, send me a text message, send me a WhatsApp message or please don't call me at 7:30 in the morning. Come on now. It's just just somehow today somebody was bossing me at 7:30 in the morning and then he wanted a meeting for eight. I'm like, dude, you know, I got kids now, let's be real here, give somebody notice. All right? What was that? So I decided to do some research about the Nigerian startup ecosystem just to see as per this whole full time, part time because you know, even we too in Niger, we have some big, big boys and big girls, you know,

that have built global companies. So just to try and see how how did they do it. So for those of you who are in this place, in case I say something that is not correct, you know, I say something and I goof, please let me know. But from the little info that I was able to find, OK, Yeah. So I got some info on Shola Aquinade. So please forgive my pronunciation. You know, I'm not a Yoruba guy, although come to think of is like a lot of these people are Yoruba guys.

You know what? I'm angry at the vex T boys. We need to start coming up with our startups. T boys, IBO boys, rise up. I bet we can't let Yoruba boys dominate the tech landscape because of what? So Shola Akinade, that's a pay stack. Then I got some stuff on Olubenga Abola. That's a flutter wave. OK, who else did I find some stuff on? Ezra Olubi. OK, that's pay stack Shola akin a day and Ezra Olubi then money points Tosi annual you tosi in New York Ronda now.

Wow, that's a strong name. What does it mean Self Tosi in your la Ronda in the Yoruba people are big. No vex, no Vex. So yeah, I got some info on some of them. So it looks like that some people who decided to do a validation on phase part time. Now as you're working somewhere, but you want to validate the idea to make sure that the idea works. Now, can you people see for those of you who've been listening to my podcast for the first time, when I talk about starting a business in three easy steps and I say step one,

figure out the idea and then I say Step 2, we have to validate the idea. Validating the idea just means is there any demand? Do people like this product or service? Are people asking for this thing? And I will people willing to pay for this thing, the amount they're willing to pay for, are they willing to pay for it enough that will sustain my life and I can also throw back into this business. That is the validation stage.

So excuse me. So can you guys see now when I say stuff like that, I'm not just making stuff up. There are other people who do this too. So there's some Nigerian founders who that is what they did. You're working somewhere part time. So you're working somewhere full time. They are now using your part time time to now validate this idea. Is there something here? Is there something here? Then when you see that there's money here, you will now give your car resignation notice and then rush and then try and blow that thing up.

So it looks like there are a couple of Nigerian founders who are at the habits of working at major, major institutions, you know like banks, tech firms or consulting firms and then they validate something. Then they now cut out. So for Pay Stack, Shola Aquilade and then Ezra Olubi, ABI Novix, if I'm getting the names wrong. So from what I found, they were developers already and they had worked on different other products before they perfected the code for the payment platform that would eventually become Pay Stack.

So that's Shola and then Ezra Olubi. Then if you're curious, of course, we have the Internet. So, you know, go and do your own research or like I said, there are lots and lots and lots of Nigerian tech podcasts. Plenty, I've noticed plenty of Nigerian podcasts that are devoted to gist, to politics, to tech. But then when it comes to sales, like where are they? I've only found two anyway, sorry about that. Just recovering from my cold then.

So that's pay stack then for money points the guy with the powerful name Tosi enyo la Runda. Tosi enyo la runda and then Felix Ek. Is that an IBO boy? I should have checked. Hope he's an IBO boy. We supposed to represent? Yeah, my wife is 1/2 IBO, so I consider myself IBO by association. So Tosi and Neil and then Felix Ek, they worked at Inter Switch. Inter Switch is like, and I put it what? What did they even do, Sir?

Well, their payment platform, let me just put it this way. So if you've been transferring money from one bank to another bank processing payment, stuff like that, Inter Switch, they're the like the original OG company back in those days, I think shortly after military era, I think that's when I started hearing of Interswitch. So they've been in this whole payment thing for a long time. So it turns out, if I'm correct,

that Tosin and Neola, Runda, Felix UK, they worked at Interswitch, you know, before they eventually switched to money point. In fact, this is something that Grant Cardone talks about how if you're working somewhere and then you want to cut out and do your own thing, you move into something adjacent. So can you see they are working and where Interswitch when they cut out and they decide to something to to start something on their own, What did they start up?

They start money point, which is not too far, not too removed from where they're coming from because they now have some knowledge. They now have social capital. Let's say social capital. Now social capital is how will I explain it? Now social capital is this stuff you know, and the people you know very good, the stuff you know and the people you know. So if you leave a payment company like Interswitch, you've worked there for years, you have, you have gotten to know a lot of things about payment infrastructure in Nigeria, a lot of things about players in the financial sector, a lot of people involved in, you know.

So when you switch and you decide to now move to your own company, you now set up your own money point. You can see that the social capital that you have built, the stuff you know and the people you know, it will help as you begin the migrate into this new thing. So there's something that grandpa don't used to talk about that because some people will decide, you know, you've been an architect all your life and then you want to do a startup and your startup is going to be around the baby food or something, you know, like from where to where, you know, then OK, then also some people who left full time.

OK, no, I didn't get much information on people who left full time. Let's see. OK, I found no, no, no, sorry, research inconclusive. I didn't find people who left full time. But then I mean, it looks like in Nigeria we have a history of working through accelerators. That's accelerator giving people momentum. Now. An accelerator is what's an accelerator now. An accelerator is a body or a group that has been set up to try and figure out a few things.

Number one, to figure out which ideas, which business ideas are viable, which business ideas are workable, and then #2 to provide the support and the and the enabling environment so that these, these businesses can thrive. Yes, let me just put it that way. Sorry, please, if my definitions are not 100% correct, you know, as usual, I've done small research and I'm doing a lot of these podcasts, you know, online. So please allow me to just define some things like that.

So yeah, those are what accelerators are. So accelerators, incubators, lots of people use those things interchangeably. So at least I'm aware I first came across incubator ecosystems and stuff like that when when I was early in my early in my career as a photographer, because eventually I would start doing some stuff for the British Council. And the British Council used to do, OK, this, do some accelerator thing, accelerator week accelerator something.

And at the time they used to use Ventures, Ventures Park. I think Ventures park in Abuja somewhere in is it Maitama? I busy three arm zone and it kind of Maitama kind of three arm zone. So Ventures Park and I think that was the first incubator that I came across and that was the whole point of Ventures Park. I don't know if they're still in existence right now, but that was the whole idea. So there was a Co working space there, they had consultants working there and that was the whole thing.

Everybody shows up there. And the whole point is we're trying to figure out which business idea is going to work, how can we provide the support to make this thing work. And if I remember correctly, I think if any of the businesses succeeded, then the people behind Venture Spark would get to invest in the company and then take a cut or something like that. I can't remember, It's been a long time ago. But like I said, whenever I'm talking about anything that is outside my core competency,

please go and verify. Don't crucify me. Verify, please. And then of course, I'd appreciate if anybody reaches out and says, look, this thing you said was not entirely correct, so I can make a rejoinder. So yes, we got accelerator things going on in Niger. Well, looks like the most Nigerian global startups. It looks like they have all passed through YC. That is Y Combinator. Now, Y Combinator, in fact, is even responsible for part of the reasons why I have this podcast,

because when I first discovered podcasting by accident, I came across Startup School and then I listened and Startup School, it was, was a limited series something it was actually a collection of lectures by people in Y Combinator. I think somebody that handled growth marketing for Facebook even delivered one of those lectures. When I listen to it, I say, eh, there's stuff like this on the Internet. You don't mean it.

Like I can go and listen to a podcast and if I want to learn about growth marketing, all I have to just subscribe to this thing and I'll be down. I'll be digesting lectures upon lectures on growth marketing on how to do a start up on how to do this, how to do that. This thing just blew my mind. But it's a limited series anyway. I think it's only maybe like 2020 something lectures. I can't remember. It's been a while. I should go and listen to it again.

So because it's really been a long time. So that's when I first came across Y Combinator. So this Y Combinator, there's textiles. So it looks like a bunch of our people have passed through all those kinds of all kinds of things. I can't remember if the pay stack boys went through it. Sorry you I didn't do proper research. Just jotted a few things, you know, sharp, sharp. So I can just talk about this thing small. Oh dear, 45 minutes.

OK, let me bring this thing to a close. But I did find some comments though. There's some people who say that because in Nigerian startup will require you to build your own infrastructure, you understand your own logistics, you will sort it yourself, your own power, your own Nepal, your own generator, you will sort it yourself as you have to sort everything for yourself. So I did hear, I did see some some opinions from people who said that because there's plenty of operational issue,

operational K legs that you have to be all in that if you are doing this thing part time and you haven't raised money, you have not raised good money that you don't go make up. So yeah, there are some people who say that then let's see what else. Then there's also some people who said that, look, if you're going to build a startup in Niger that or a global company in Niger that you have to be in this thing full time. You can't be doing part part.

You can't be doing half, half because of course global VCs because you know everybody that is raising money, dollars, dollars now dollars then there is. So you're getting money from outside to get these companies going. And so unfortunately the founders outside, they like to see people who are all in. They don't like to see people who are doing part time. They view it as a lack of confidence in the local market. Then there's some people also said that you guys to be full time because of regulatory issues, you have to get license from CBN, license from SEC,

license from here, paperwork from here. And if you're doing part time, part time, you just can't follow up on some things. Unfortunately. Like I've told you guys, I'm in this situation right now with two clients in particular and honestly, these things happen. OK, let's have a meeting on Friday. No problem. We all agree. So what happened now? We agreed on Friday Chukwudi had to travel because chairman is going to Dubai.

So you know, we can't have the meeting. You know, we can't have the meeting, we can't have the meeting. So these things happened. So you have to go here, go there, this paperwork, that paperwork. So some people say you guys be full in you have to be available for meetings on short notice. And then I also heard from, well, read rather online for some people who say that you also have to be full time because if you want to tempt a Nigerian engineer to come and work on your projects and the guy is already used to working remote, getting good money from other people is receiving money in dollars.

You don't want him to come and work on your own startup. Meanwhile, you you're you're not even here fully. Yeah. That, you know, like it affects their motivation. And then plus you won't even be around to support them to make sure they're doing a good job then OK. I did find something about serial founders or serial chairmans and the guide was mentioned is Inolua. Sorry I'm butchering his name. Yoruba people Novix Inolua Aboyeji I think associated with flutter wave, future Africa and Teller.

So, but like in his own case, some people say like how Labu did OK, so flutter wave, definitely that's his thing. But even though he's the CEO, you can't really say that he's involved every single day. So it is that kind of thing that will allow him time to now start putting his his hand into other things here and there. And then he ends up being, you know, like the serial founder, you know, he's German of Abyss, the CEO Abyss, the chairman.

Anyway, he's the head of flutter wave. And then he's the head of this company. And then he's the head of that company. And then on and on and on and on and on. Butcher I just wanted to say something about it because as I've been going on in this consulting practices, something that has been coming up, this whole thing of I'm starting a startup. We need you to do this work for us. You need you need, we need you to consult for us on this on that.

Help us set up our selling. I'll go to market motions and this and this and that and that. But then at the end of the day, I'm like, you know, guys like seriously, are we doing this thing or are we not? Because you guys are kind of half, kind of half here and kind of half not. And this thing is not going to work. In fact, for somebody that I was talking to December into January, I had to tell them wholeheartedly like, look, dude,

you know what, if you give me money, I'll take it. But to be honest, you currently work as a salesman for this particular company, then you have your side hustle doing this sort of thing, and now you are promising your friend that two of you will enter this thing on founder founder level and you'll be in charge of sales. I have to tell him outright. Look, dude, can you handle this thing You guys say yes, you guys say OK, no problem.

I said no problem. OK, go and discuss with your go and discuss your Co founder, go and discuss with your partner. Aren't you able to discuss on these and these and these and these issues? And then let's get back and let's have a conversation about it before going forward. After that I didn't hear them again. So I don't know if the whole thing is scattered or maybe if the guy was able to rise up the OK, all this is grand plans about how they're going to build a Unicorn and this and this and that and that.

You know, it's not going to work. But for him particularly, I just want him to pick a lane. You're either a salesman for this company or you're involved in these your side hustles or you're going to be a Co founder who's responsible for setting up the selling framework. But you can do all three. So I just want to make a podcast just to touch on all these tensions since I'm running into lots of people who are dealing with these sorts of things.

But to be honest, there, I understand perfectly well you're receiving and rubber salary, you're receiving good money, but you don't want to be boy boy forever. I understand it's it's somehow and to be honest, sometimes I wonder how I don't know if I can live that way. Like today I'm here in Abuja, but then maybe next tomorrow, Chairman says he's travelling, therefore I guess to book a ticket and then we just take off like that.

And you know, in my own case where I want car family, you know, my wife does drive, know who does all the driving? And I just wonder how will that work? But you know, my wife laughs about it and my wife says, look, so long as it's I'm robust salary, I'm collecting salary, millions and millions that will make it work. Oh well, anyway, let me wrap it up. So my own personal inclination, if you reach out to me honestly speaking, I'll try to tell you that look, we need to pick a lane.

You're either in or you're not. If you're in, we're going to be able to gain momentum. But yes, it's going to be risky because you know, you got bills that need to be paid in the meantime. So whatever it is you want to build, you know, sure, no problem. Just be clear and just be honest with yourself. You're trying to build a lifestyle business. Oh, it's all good. Build a lifestyle business. If you want to build a Unicorn,

global startup, something, something. So it's all good. Just be honest. That's what you're trying to do and realize the level of work that is supposed to go. If you're trying to build some small part time something here that is picking up the bills, it's it's all good. Whatever it is you want to build, it's perfectly fine. Just be honest with yourself on what you're trying to build and be honest about the level of work, the level of commitment that is going to be required to take you there.

Basha, I said even though I have a prejudice towards somebody being full time in, what is they're going to do? I say shall let me do some small research just to let you guys know officially let you guys know properly the reasons why if you're going to be all in, full in on your startup, why you should be all in and full in. And then to be objective. I also showed you examples of companies where the founders were doing part time and still made it work.

And then also showed you examples about Nigerian companies where what they did was they stylishly validated the idea first before resigning. So you're working at inter switch like those boys are. And then you know, like, will this thing work? Will this thing work? You push on small, small, you push on small, small. And this thing is working. They now resign and they now move. But of course, like I said, if you want the fuller picture,

there are lots of Nigerian tech podcasts about these sorts of things. I think I haven't used to subscribe to Tech Point Africa. I haven't seen any updates from them in a while, but Shah them plenty. Subscribe to all the tech podcasts you can find about Nigeria. There are definitely more podcasts around tech in Niger than around sales and marketing. So if you're interested in this sort of space, then reach out. Subscribe.

OK, yeah, there's Founders Connect. I can't remember this lady's name. This lady. We get dreadlocks. Fine, babe. Don't tell my wife I said that, by the way. I think, yeah, I think it's called Founders Connect. I think there's also one of the podcasts in the tech ecosystem, but that one is an interview show. So it's not her just talking, you know, into the microphone for minutes on. And like me, she's typically involving other people who have been involved in tech in Nigeria and then, you know, maybe like Nigerians in the UK, Nigerians in in America.

So it's a nice podcast to listen to. So just listen now. Open your eye, you know, see what's going on in other parts of the world. So that's it. That's all for today. Sorry for a Warner episode. I haven't done this in a long time, but thanks for your time and attention. Remember, if you'd love to connect with me, you can call me, send me a text message or a WhatsApp message on 08064662140. You're trying to set up a tech company, set up a whatever you need some advice about your go to market motions.

You're trying to figure out how you guys are going to sell the best way to validate your MVP, your minimum viable product, you know, your whatever. Reach out, let's have a chat. If you think I sound expensive, don't worry, don't be scared. I'm also OK with talking to people for free. Just let me know that you're looking for free consultations and then I will answer one question only. So think really hard and really fast about what your question is going to be.

But then if we have to go in depth to start stretching out frameworks, diagnosing problems, building standard operating procedures, you know, things like that, you have to cough up some money. But don't worry, I'm not as expensive as I sound. I'm actually quite reasonably priced. So yeah, reach out 08064662140. Thank you very much for your time and attention. I'll catch you all some other time.