03/10/2022
The way a lot of start ups don't like paying for services is crazy. I have been blessed with founders who pay for services, but a few experiences have driven me away from founders who were not introduced to me on recommendations.
I have a soft spot for founders, start ups, young entrepreneurs and all young people doing something of their own. I have done a lot of unsolicited consulting for businesses, stretched out payment plans, and just tell you the pros and cons without a consultation fee because I understand how service fees cuts into your overhead, but the odd thing is that for a lot of us in the service industry, it's all we have as well. So, we are in the same ship.
So, if you are a roadside business selling akara and pap, you are a start up. If you are a founder inculcating a 1996 payment platform in Africa you are also a start up. A startup is generally a "company" that's in the initial stages of business. Company is in quote because of the legality that is attached to companies. Nigerian laws allow you establish a business name with similar protections.
The first challenge that a lot of start ups encounter is the contracts. Those little blood oaths you swore with your lover by the river? That is small compared to the initial contract. I personally enjoy writing mean contracts because I know you people don't read. I hate reading other people's contracts because I keep worrying if I have missed something.
A lot of businesses don't survive the first three years largely because of the things they agreed to with others before their businesses start. A word of advice, a written contract is better than a pat and a promise. A written contract you understand and agree too comprehensively is far better than just having words on paper.
Finally, learn to pay your debts and honour your agreements.
