Daily Question for 20 October
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Question

How did the Nigerian entrepreneurs in Lagos get their start, and what do they say about scaling a business?

Response

The Nigerian founders in these interviews describe a mix of inspiration, chance, and family influence. The tech founder said he was inspired by watching The Social Network and seeing that Mark Zuckerberg built his business at 19, and he began his path as an intern for his mentor. The real estate developer said he got into the business by accident, through a friend who gave him some agency work. The oil and gas owner credited learning from and emulating his mother's business. On scaling, the tech founder said the key is systems and automation: recruiting and onboarding talent on a regular schedule and reviewing performance annually so the process runs on its own. He also argued that a billion-dollar company is really many people who could each have built a $10 million business, choosing to combine their efforts. Dangote, interviewed in Nigeria, was described as having started by selling candy to classmates.

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