It is true that the owners of Tolaram Group are not Nigerian, but their ability to build an almost one billion dollar company in Nigeria is not inherently tied to where they are from but to how they solve the problems that arise in their lives. In the first Culture post, I spent …
Want to Survive as an Entrepreneur? Solve Problems Read More »
Patient Capital Tolaram entered the Nigerian market in 1988 but it took 20 years for the company to gross $100 million. Tolaram spent the first several years figuring out their profit formula. The company was patient for growth, but impatient for profit. Because market creating innovations enter uncharted and untested territory, entrepreneurs and investors …
How One Company Defied the Odds and Is Grossing Almost $1 Billion in Nigeria (Part 2) Read More »
Nigeria in 1988 — Not a premier investment destination In 1988 Nigeria was not a premier investment destination. Life expectancy for the country’s 91 million people was 46 years; gross domestic product (GDP) was about $23 billion; GDP per capita was about $256; 78% of people lived on less than $2 per day; about 37% of people …
How One Company Defied the Odds and Is Grossing Almost $1 Billion in Nigeria Read More »
Efosa Ojomo – Harvard MBA grad, engineer and co-founder of Poverty Stops Here writes about why more African entrepreneurs need more market creating innovations. Successful market creating innovations typically have the following attributes: Business models and capabilities that target non-consumption. An enabling technology that provides improving levels of performance at progressively lower cost. A new …
Harvard MBA Grad On Why African Entrepreneurs Need Market Creating Innovations Read More »
