Entrepreneurship Lessons from a Nigerian Founder by

Adetayo Bamiduro summary

Being an entrepreneur in a Frontier markets country like

Nigeria is not easy and I need to adapt there with wisdom.
He focused on how he dealt with many difficulties like
accessing capital and talent etc and being able to become
a successful entrepreneur.
Capital is necessary to execute a good idea in frontier
markets but it is very tough to get funding in Nigeria .So
the author and his friend being MIT students started his
business from the US with a friend network and then
moved to Nigeria.
Talent and skilled employees are needed to run a startup
but there is a scarcity of talent in sub-Saharan Africa.Only
6% people got top class education as compared to 80% in
Europe.So they recruited local talent through referrals
from friends and LinkedIn.
In frontier markets it is necessary to have good
communication skills and skill to create good relationships
as government authority is a threat .The author once faced
problems with government policy but due to his past
relationship with authority he is able to manage.
Market size and fragmentation present is important to
deal. He has to adjust the price and service to access this
for the greatest number of low-income consumers,and at
the same time making profit is challenging.
Making the Leap to Entrepreneurship by Jaime Schmidt

Getting an idea of business and Getting a startup off is

risky and everybody is afraid of it. But if we don’t take a
leap ,our dream of autonomy can not be achieved and for
this we need to have more entrepreneurial spirits.Jaime
Schmidt describes some primary principles that an
entrepreneur can pursue to succeed.
Pursuing an entrepreneur life it is very important that you
have a passion and inner motivation and need to be
determined . You need to truly find that you really want a
career in this field and how long u can go and your idea
will really work.As author left her HR job and awoke her
passion for making and selling natural personal care
products. When you got an idea then start working on it
,develop skills,research on that area .Author attended
seminar , worked on different related posts to gain
knowledge about her business idea.
Finding a source of funding is the next step and needs to
be decided carefully based on what amount of risk u want
to take and will u able to make profit .Managing
entrepreneurship and personal life is very important for our
mental health. It is important to focus on startup work as
well as simultaneously spend time with family and friends.
We Need to Expand Our Definition of Entrepreneurship
by John Hagel III

In people mind entrepreneurship mean create

world-changing businesses that can quickly reach $1
billion.But it can be defined as person who sees an
opportunity to create value and want to take a risk to
capitalize on that opportunity. some elements of this are
opportunity spotting, risk taking, and value
Creation. In today days where opportunities increase at
high rate simultaneously risk also increases but as a
entrepreneur we need to tackle with those
risks and harness the opportunities on the other side.
Entrepreneurs should take opportunity to make
comfortable living for people by designing and
commercializing products .All of our
institutions should need to cultivate and encourage
entrepreneurs throughout their ranks.The more successful
we will be in generating entrepreneurs in our society, the
the more dynamic our world will become, and it will
change faster and will create a need for even more
entrepreneurs else whose practices of the employee
society will suffer.
Pursue Your Dream or Move On?
This article tells about how two people Sonia and Amenda
saw the condition of tomato farmers in Nigeria and took it
as opportunity for starting their own business to solve the
issue .There happens a lot of ups and down in their
business
Keeping Your Business Plan Flexible by Amy Gallo

Focus on your largest asset:

Human resources are the largest asset for a company. For
a settled company technology and discovery is more
important than human resources.So focus on that which is
more valuable to you.
Describe the experiments:
Starting a business is all about making mistakes and
learning from that.Goal should be to describe well
structured experiments and utilise the data coming from it
and what you should do next.
Include risk assessment and contingencies:
It is not possible to do according to plan .So companies
should always assess risk and plan accordingly to any
changes.
Revisit the plan often:
It is necessary to review the plan as time passes and
analyse how business is evolving with respect to original
vision. There’s uncertainty to a new business but we still
need to tell a compelling story of how we’re going to
decrease risk.
The power of an entrepreneur mindset

Author talks about the importance of the entrepreneur

mindset and it is necessary to students as it builds many
skills .Entrepreneur mindset is not only necessary to
entrepreneurs but any employee of a company should
have this mindset to get successful in life.
He gives some examples of students how he nurtures an
entrepreneur mindset. He once visited a classroom under
a program and asked students to work with him and make
projects. But one student completely disagreed with him
.He then told You have all freedom and will be in-charge of
your business and profit will be yours. And that student
successfully made a good project.This experiment shows
that when you allow someone to take risks and give all
freedom then you are developing a young entrepreneur
mindset. In another program when the author asked
students to build products to sell in kindergarten then
students came up with different ideas of good design and
with a lot of creative ideas.So when students will be given
real life scenarios of business and opportunity then we can
develop an entrepreneur mindset. There are a lot of
benefits to the entrepreneur mind . Entrepreneur mindset
realizes young their hidden potential and gives high hopes
in the future and it sparks leadership.
The art of innovation

The speaker talks about innovation.

Speaker tells about ten things. He says to make meaning
instead of money.When you add meaning then money
comes along .Like google gives access to information to
all.YouTube gives creating video.And they are highly
successful. But when we run for money then we will fail at
the end.Assign two-three word mantra to your
meaning.Jump to the next curve.The greatest example of
this occurred in ice business. Ice cutting from the cold
climate then ice preparing in the factory and then freezing
came . Company associated with all these three are
different .Because they did not able to jump to next curve
that’s thinking something different and innovative.When
you jumped to the next curve ,it’s ok to have elements of
crappiness to you revolution.Great product polarize
people.Always change products with some innovative
ideas like version 1,2,3 because to be an innovator you
need to be in denial. If you are an innovator you have to
learn to pitch