Entrepreneurship: A Practical Approach

By
Abdul Wasii Olufemi Balogun
 Outline

Case Study 4 –
Case Study 3 –
Macrotel
Royal Bites
Bakery
Case Study 2 –
Case Study 1 – Poultry Business
Fish Farming
Business
 Case study 1 – Fish Farming Business

Three Muslims brothers started a

fish farming business in Abeokuta.
1
Invested in 1 Acre of Land at a
location close to UNAAB. 1
2 Started lean with a view to
growing the business as
Member of the team is the major customer demand increases.
financier and vision was clearly
communicated STARTUP TEAM

STARTUP STRATEGY

4
3 • Lack of committed resources –
Two members of the team are
UNAAB students
• Poor understanding of the
CULTURE business by stakeholders
BUSINESS • Poor business model
CHALLENGES • No expert was engaged
• Business failed after 2 years of
consistent revenue loss
 Case study 2 – Poultry Business

01
STARTUP TEAM
Three Muslims brothers with
BUSINESS 03
a vision to own 50,000 Birds CHALLENGES
• Failure to understand the value chain of
in 2 Years. Invested in Two the business
acres of Land at Iwo • Failure to contact an experts and learn
before starting the business
• Lack of committed to resource to
monitor the business and scale
02 •
•
Poor business case/models validation
Business failed after 18 Months with
revenue loss
STARTUP STRATEGY
Started with 1200 Birds to
better understand the
customers needs and the
challenges associated with
the business.
 Case Study 3 – Royal Bites Bakery

STARTUP TEAM
A team of 10 Muslims brothers conceptualized a bakery
business with a view to adding value to the Muslims
1
STARTUP STRATEGY

2 Engaged consultant to other the business, validated business case and

commence business with a lean models. The goal was to deliver value and
not to compete with pricing. 3 members of the team are running the
business

BUSINESS STORY

3
• Break even at Month 1
• Hired over 20 workers with over 1 Million Salary payment
• Feeding over 100,000 household with over 40k loafs monthly
• Loan from BOI through Lotus Capital
• Over 13M Monthly sales and net margin of 25% - 30%

BUSINESS CHALLENGES

Private equity has successfully attracted the best and

brightest in corporate America, including top performers from
4 • Fluctuations in raw material due to FX Instability
• Key man risk with some of the employees
• Scaling challenges and strategic approach
Fortune 500 companies and elite strategy and management
consulting firms.
 Case Study 4 – Macrotel Innovations
01
STARTUP TEAM
Two Muslims brothers committed
to set up Financial technology
company to deliver value to
stakeholders .
02
STARTUP STRATEGY
Started lean and identified the
minimum viable products to deliver to
the market.Outsoured some of the
technical work to freelance
developers and run
BUSINESS CHALLENGES
04
• Request from partners and delivery
• Managing Investors willingly to
invest in the business
BUSINESS STORY 03
• MVP failed in the market
• Boot strap for over 2 years without
profit or external funding
• Currently with 5 Software engineers and
Chartered Accountant with close to 1 Million
monthly salary
• Business broke even after 2 years
 Key Takeaways

Strategic Partners Value Driven Offers

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