AishaBuhari:

Forget Ghana, Talk Naija - Or Are We No More The Giant Of Africa?

Why the bad news every minute?
Are you not tired of successes and achievements makings rounds on paper which cannot be seen or felt physically?

Mayflowa:


They are not shutting down the website. They want to cut jobs in Nigeria while operating the website maybe from South Africa. They want to make more money knowing there is no regulation that ask them to keep Nigeria office opened

222Martins:
I saw this coming and many more online startups are struggling to stay afloat. Please to the young entrepreneurs out there, I have an advice for you: Profits sustains business, not hype or noise. Profit in business is success, but unfortunately, the media tends to deceive a lot of people.

- Being the biggest, is not profit.
- Receive an award, is not profit.
- Being everywhere and spending millions in ads is not profit
- Raising $1million is not profit
- Signing up 1 million users in an hour is not profit
- Having 10million followers on FB or Twitter is not profit
- Rushing to establish presence in 40 countries is not profit

Nothing beats growing organically. If you need a proof to the above points, just look at Nairaland.com.
Experience in business have taught me not to be moved by vanity metrics. Just show me the money.

tensazangetsu20:

Explain more about growing organically.

222Martins:
This is beyond Buhari. The business model was faulty from day one. Hype and Vanity metrics cannot sustain a business.

222Martins:
I saw this coming and many more online startups are struggling to stay afloat. Please to the young entrepreneurs out there, I have an advice for you: Profits sustains business, not hype or noise. Profit in business is success, but unfortunately, the media tends to deceive a lot of people.

- Being the biggest, is not profit.
- Receive an award, is not profit.
- Being everywhere and spending millions in ads is not profit
- Raising $1million is not profit
- Signing up 1 million users in an hour is not profit
- Having 10million followers on FB or Twitter is not profit
- Rushing to establish presence in 40 countries is not profit

Nothing beats growing organically. If you need a proof to the above points, just look at Nairaland.com.
Experience in business have taught me not to be moved by vanity metrics. Just show me the money.

Mayflowa:


They are not shutting down the website. They want to cut jobs in Nigeria while operating the website maybe from South Africa. They want to make more money knowing there is no regulation that ask them to keep Nigeria office opened

9ja4show:
Now Konga has been sold to a foreign company, are there no buisness men that can buy it here?? You see these Indians and Chinese people , they see the good in Nigeria more than it's citizens..wake up Nigerians

222Martins:
I saw this coming and many more online startups are struggling to stay afloat. Please to the young entrepreneurs out there, I have an advice for you: Profits sustains business, not hype or noise. Profit in business is success, but unfortunately, the media tends to deceive a lot of people.

- Being the biggest, is not profit.
- Receive an award, is not profit.
- Being everywhere and spending millions in ads is not profit
- Raising $1million is not profit
- Signing up 1 million users in an hour is not profit
- Having 10million followers on FB or Twitter is not profit
- Rushing to establish presence in 40 countries is not profit

Nothing beats growing organically. If you need a proof to the above points, just look at Nairaland.com.
Experience in business have taught me not to be moved by vanity metrics. Just show me the money.

LagBlogger:
Like the FTC said rightly, its not about noise but profit. I learnt this too from one supermarket close to my house. They have big sales but low overhead costs. Unlike another store with big sales and high costs.

sisisioge:


Every business has it's own strategy. All these you summarized would have translated into the much needed profit if the outlined were well utilized. Besides, anything online that opens door to millions of individual sellers without absolute control of their conducts and wears ( eg Jumia) is bound to have a huge infiltration of fraudulent beings. That's what I think killed it. Their kind of website requires a high level of confidence and goodwill to thrive but it is absolutely lacking of these two essential elements. God's speed to them, I hope Jiji is learning. We don't wanna lose you too.

By the way, don't compare OLX and NL, they offer absolutely two different businesses. If all NL does too is strictly online commercials, Seun would have grayed out by now.

oreayo2011:
i knew the moment this whole e commerce trend started that it wasall fireworks(a showy display that captivates our attention for a moment and then nothing).Having followed the Amazon story since the mid 2000s,I knew Nigeria was not ready for e commerce and jumping into that space was tantamount to the herd mentality(everyone doing the same thing whether it makes sense or not).Amazon has been around now for longer than some nairaland members have been alive,but in all that while it was not a profit making entity despite their ever soaring valuation.
Not until very recently especially with the new Amazon Web Services did they start declaring very tiny profits compared to the scale of their operations.Now Amazon operates or originates from a system where the logistics of e commerce make sense.Fedex,UPS and DHL have been trying to outdo themselves for decades which means even before Amazon was born ,the logistics of delivery was sorted.Secondly to all those asking how Buhari comes in,well here is your answer.For logistics to make sense,you need infrastructure.Really good infrastructure.
Good roads,airstrips with safe tarmacs that can be utilized at night.Ibadan airport is a joke and so are most airports in nigeria .You cannot sustain a big business depending on just Lagos ,Port Harcout and Abuja and more importantly you need the night economy to make e commerce efficient.
The only people that work at night in nigeria are armed robbers,prostitutes,corrupt policemen and recently uber and taxify drivers.
k

222Martins:
I saw this coming and many more online startups are struggling to stay afloat. Please to the young entrepreneurs out there, I have an advice for you: Profits sustains business, not hype or noise. Profit in business is success, but unfortunately, the media tends to deceive a lot of people.

- Being the biggest, is not profit.
- Receive an award, is not profit.
- Being everywhere and spending millions in ads is not profit
- Raising $1million is not profit
- Signing up 1 million users in an hour is not profit
- Having 10million followers on FB or Twitter is not profit
- Rushing to establish presence in 40 countries is not profit

Nothing beats growing organically. If you need a proof to the above points, just look at Nairaland.com.
Experience in business have taught me not to be moved by vanity metrics. Just show me the money.

nurshah:




Please explain ur point on working at night

oreayo2011:
If you have lived abroad,then you would realize there is an entire night ecosystem.Construction workers repairing roads,rail tracks etc.Street sweepers,advertising billboard companies changing billboard ads at night.Maintenance crews checking plumbing and electrical wiring in tunnels to make sure cities run efficiently during the day.
How do you think large supermarkets always look neat and well arranged.Delivery trucks dock at night,deliver their goods and waiting staff sort and replenish the aisles before the first customers come in in the morning.
Flights land in Heathrow from naija at 4am. That is the night economy at work.

AishaBuhari:

Forget Ghana, Talk Naija - Or Are We No More The Giant Of Africa?

Why the bad news every minute?
Are you not tired of successes and achievements makings rounds on paper which cannot be seen or felt physically?

nurshah:



Please remove spending on adds... This is very necessary for sales u can advise that it be minimized..
Even coca cola as big as they are still advertise. One needs to tell or remind people of their product. Advertising symonds to sales so, please edit

IbnIbrahim:

Advertisement with sense.

CaptainMarvel:
It's one thing to be "THE BRAND", it's another thing to "MAXIMIZE PROFIT" from the brand.
Facebook, for example have still not figured out how to maximally monetize whatsapp

222Martins:
I saw this coming and many more online startups are struggling to stay afloat. Please to the young entrepreneurs out there, I have an advice for you: Profits sustains business, not hype or noise. Profit in business is success, but unfortunately, the media tends to deceive a lot of people.

- Being the biggest, is not profit.
- Receive an award, is not profit.
- Being everywhere and spending millions in ads is not profit
- Raising $1million is not profit
- Signing up 1 million users in an hour is not profit
- Having 10million followers on FB or Twitter is not profit
- Rushing to establish presence in 40 countries is not profit

Nothing beats growing organically. If you need a proof to the above points, just look at Nairaland.com.
Experience in business have taught me not to be moved by vanity metrics. Just show me the money.

kagari:
I saw this coming, it's not customer funded so it can never be sustainable on the long run

sisisioge:


Every business has it's own strategy. All these you summarized would have translated into the much needed profit if the outlined were well utilized. Besides, anything online that opens door to millions of individual sellers without absolute control of their conducts and wears ( eg Jumia) is bound to have a huge infiltration of fraudulent beings. That's what I think killed it. Their kind of website requires a high level of confidence and goodwill to thrive but it is absolutely lacking of these two essential elements. God's speed to them, I hope Jiji is learning. We don't wanna lose you too.

By the way, don't compare OLX and NL, they offer absolutely two different businesses. If all NL does too is strictly online commercials, Seun would have grayed out by now.

CaptainMarvel:
It's one thing to be "THE BRAND", it's another thing to "MAXIMIZE PROFIT" from the brand.
Facebook, for example have still not figured out how to maximally monetize whatsapp