Kola Aina Profile picture
Aug 6, 2020 10 tweets 2 min read Read on X
#Startuplessonsfromkids

My son lobbied me to buy him a bracelet making kit from amazon.

I reluctantly agreed.

Thread
A week after arrival of said kit he walks up to say he has started a jewelry making company called “Braclee” and wished that I be customer number 1.
Proud of his industry I obliged, purchased 3 and was made to wear my brightly colored bracelets all the time inside and outside.
A few days later I get an email with a link to a google form from my daughter who introduced herself as new cofounder / and investor at Braclee. Image
Said form was essentially to intimate me about a change in their busienss model with the introduction of a monthly subscription option that offered you 1 new bracket for 1/10 of the price I paid a few earlier so long as you signed up and paid their low monthly membership fee. 🤓
I was like haha and immediately signed up feeling like a super dad!
I guess all the hours watching shark tank and their sometimes creeping into my office and listening to my conference calls is rubbing off.
Besides being the proud dad; I was reminded of a few classic startup principles;
1. Focus on what your market needs. The jewelry loving ladies rule in my home at a ratio of 70% ratio.
2. Recurrent revenues rule
3. Use digital tools
4. Don’t hug all your equity, trade equity for the runway you need.
5. MVP and then scale
Once again, my job here is done!

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Kola Aina

Kola Aina Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @kola_aina

Jul 12, 2021
We underestimate what relative confidence in the institutions of state & legal system’s that work can do for business & consumer confidence.

And so I laugh when govt. folks still ask me why most startups/investee companies are domiciled offshore.
As they say business moves at the speed of trust.

In different ways; Delaware, YC safe, 500’s KISS, Mauritius, etc are all assets of trust that build entrepreneurial ecosystems.
Until we have truly visionary political leadership that can move beyond photo ops to seeing the future that is possible - African founders building for the world will continue to make pragmatic and hard choices.
Read 6 tweets
May 4, 2021
Every month @vp_fund publishes the Series V newsletter where we aim to provide founders and investors - insights on company growth in Africa. 1/6
In our latest edition, we covered “Churn” - what it is, how to calculate it, and how to minimise it. We also shared some simple steps you can take to get a grasp of how churn can impact your company. Read it here: bit.ly/3eicSic 2/6
On Series V we have also covered the Mom test, validating your startup idea, creating urgency in users, and how to know if you have a killer product. Read the full article here: bit.ly/3nNgonS 3/6
Read 6 tweets
Apr 10, 2021
It’s not even 9:30 am yet, and I have had so many exciting conversations already & am on my 2nd thread.

This is one of the benefits of my brief & rare period of solitude and reflection. #Thread
A random chat about HOV & DMX with egbon @obiasika this AM soon drifted to us talking about hubs, talent vs. opportunity in Nigeria, and the importance of solving the disparity across this vast land.
My egbon wanted to embarrass me with this line;

“I remember coming to your spot like five years ago and thinking this is the level and I can’t do this, but I can do something, so thank you, bro.”
Read 19 tweets
Apr 10, 2021
@eldivyn You need both. As they say; there is morning work, and their is night work. 😀

Chew gum and dance.

Whatever y’all decide; ignoring it is not an option.

They are legion.

They have always being there.

Some of y’all just got the memo.
@eldivyn I remember remarking at a dinner that @JasonNjoku hosted with other founders and investors- years ago at the Wheatbaker Lagos.

Guys, “we can't sit in Lagos building & ignore what happens in Abuja.”
@eldivyn @JasonNjoku The unpopularity of my suggestion struck me.

Years later, you can’t even ignore what happens in Alausa.
Read 9 tweets
Aug 24, 2020
When the coronavirus pandemic first really hit Nigeria in March, we all didn't know what to expect. As the impact on supply chains, employment, funding rounds & national economies became more manifest, many startups braced themselves for The End.
As layoffs were announced, some businesses folded up, VC’s (we @vp_fund kept investing) warned of dark times ahead & restructuring experts predicted the beginning of a “great unwinding” after a decade-long boom.
Five months later while challenges persist, especially with the impact on consumer spending & access to working capital, startups that offer virtual learning, telehealth, e-commerce, streaming, and software for remote workers are seeing a surge in demand.
Read 12 tweets
Jul 31, 2020
If you follow me you already know how much of a fan I am of ⁦@EfosaOjomo⁩ work on the Prosperity Paradox.

Last week I shared his new paper titled; “Avoiding the prosperity paradox.”

#Thread
christenseninstitute.org/publications/a…
What that title doesn’t easily giveaway is that this new paper shares 3 practical steps for entrepreneurs & innovators who are keen to tackle non-consumption and successfully build market-creating innovations, that we desperately need in the global half I call home.
Step 1: How to discover market creating opportunities. With some practical examples including Nigeria’s own @maxdotng
Read 7 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

:(