Infographics, SB Telecoms Partner CFAtech to Host Startups, Entrepreneurs in Lagos

Infographics, and the developers of TAMS Software, SB Telecoms, agreed on a strategic partnership with CFAtech,  a leading technology media platform in Nigeria, to host the CFA's Startup Hangout.

The August 2017 edition of CFA’s Startups Hangout, held at Adna Hotel on Friday, August 18, 2017, had in attendance startups and entrepreneurs who were empowered with life experiences of the CEOs from both companies.

At the event,  Afolabi Abiodun, CEO, SB Telecoms & Devices and Chinenye Mba-Uzoukwu, CEO, InfoGraphics, provided critical information of value to attendee startups to run their businesses efficiently, successfully and also scale their businesses.

Speaking at the hangout,  Afolabi narrated a intriguing story of how he started running a thriving recharge card business which landed him into indebtedness worth N26 million.

He said fleeing to Ghana afterwards cooled off his heels from the pursuing creditors after which returning to Nigeria to face the problem squarely, with a view to resolving it.

"I was close to my grandmother and thanks to the influence of her, she was one who contributed, in no small measure, to the initial capital of his business, as well as supplied the collateral that he used in standing for the loan."

He explained that some of the lessons to learned from his story include having the “I can do” spirit in conducting the affairs of ones business.

He added that engaging the services of professionals in areas that one does not know anything about, as well having a working experience, especially in the line of business one intends to pursue or start.

He charged entrepreneurs that business negotiations and decisions should be collaborative with team members.

"Decision should not be only about you alone, but you need to consider the interest and point of view of the other parties too," he said.

He said some other of lessons learned should be taking integrity seriously, having the right attitude, trust, carrying your team members along, cutting costs, as well as providing solutions to your business problems.

“Don’t run away from your problems. Note that your creditors don’t want you to die!”, he emphasised.

In his views,  Chinenye advised the Startups that, after fumbling, tumbling and stumbling, making their own mistakes, they should learn from it, make amends and move on.

He argued that there are two sets entrepreneurs, the ones that have clear cut vision of their objectives and the opposite.

"For those who have a clear cut vision, it is imperative to start planning towards it and hit it.  Meanwhile,  for those who are still struggling to figure it out, they should learn from their struggles and make the necessary corrections.

He advised that it is important to have a critical mindset in figuring out prospects who are determined to work and bring them on board.

“You can never be bigger than the people around you”, Chinenye noted.

He gave a chorological account of how his business ran aground four times and at some point, amassed a debt running into about N18 million!

“Open your eyes and know what your business really is all about. Change it, if necessary. You cannot run a business when you don’t know what to do yourself”, he observed.

Concluding, Chinenye said entrepreneurship has to be nurtured and patience is needed to make it grow.

“What matters is not winning the race. What matters is crossing the finish line”, he stated.

The August 2017 edition was sponsored by TAMS and Remita.

Media Partners for the CFA’s Startups Hangout, include Nigerian CommunicationsWeek, Guardian Tech and CFAtech.ng, Connectnigeria.com and ITPulse.com.ng for spreading the awareness of this unique opportunity for Startups to learn and grow.