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Showing posts from February, 2022

The Journal of an African Tech Startup Founder: Part 4- Bringing my A game

In previous articles, I shared my backstory, my biggest risk and the motivation behind everything I'm doing. In this article I'll talk more about my personal plan and roadmap towards the vision. First and foremost, I make apps- Android apps to be specific. My flagship app is called the Business Builder- Small Business Management Suite and I've made a more advanced version of it called Asaqè Business Pro . Which is the one I'm currently pushing and hoping will bring us the big bucks. Both apps are available on the Google Playstore and they are intended to help people especially in lower income economies to start and grow sustainable businesses. When most people think about apps, or software in general, they consider the technical functions... what does it do? What technology does it use and so on. I've since come to realize that there is more to it. To quote George Berkowski: It's not just an app, it's a business. Creating the software is the easy part. I'

The key to setting profitable prices for your products and services

One thing I've learnt over time is to never leave anything to chance, especially in business. It's important to make data driven decisions. This means collecting and using the information around you to choose those options which give you the best outcomes. While you will not always get it right all the time, it's important to err on the side of caution. So with that said, many small businesses seem to be unknowingly undercharging for their goods in an effort to be competitive. They set prices based on the markets and totally ignore their internal cost structure. Some industries (like retail) are about moving volumes. The profit margins are often quite small and so the only way to be profitable is to sell as many units as you can, while minimizing your costs. However, you can only manage your costs effectively, if you understand them. How to set a good price There are 3 factors to consider when setting prices: a.) Your costs b.) Your competitors c.) How much your customers

My thoughts on the Zimbabwean start-up landscape

Did you know that since 2012 over US$3.4 trillion in venture capital (VC)has been invested around the globe? However less than 0.5% (as in half of 1%) has gone to African startups? The irony is that VC money is literally being thrown at Startups from everywhere. Here's how it works: Just to put things into context- large corporations like Google, Microsoft and Amazon are all on the lookout for new ideas. So they will fund as many ' seemingly good ' ideas and then rely on the probability that one of those ideas will be worth billions. For example- they can allocate a million dollars to 10 startups. That's $100k apiece. Out of those 10, not all will fail, and there's a chance that one could be worth 10x, 20x or even 100x as much within a year or two.  The key however, is that each of these investments should have the potential to recoup the cost of the the other 9 that fail and in addition, bring a profit. So even if 9 out of 10 investments fail, they know that one in

The journal of an African tech startup founder part 3: My motivation

Why do you do what you do? What motivates you? Well, I normally have two answers reserved for that question and both are true. One is glamorous, romanticized and maybe even dramatic. Revolutionizing an industry, inspiring people, changing the world and so on. The second is more personal, and you might even call it selfish. That's the one I'll be sharing in this article. Wish I could lie a bit, but I made a promise to myself and anyone who would read this, that I would be as genuine as I could. So this is my truth. We'll reserve the glamorous one for my Forbes feature someday. Deal? Great. Some years back, my country faced a devastating fuel shortage. It was hard to get transport to and from work, and so people would wait for hours just to get a ride home. Needless to say, there was always some shoving and pushing as people jostled to board the few vehicles that came by. As I stood in line at the bus terminus, I noticed a heavily pregnant woman. She was visibly weary, probab