Before You Start Your Startup in Kenya - Moses Kemibaro

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This is a presentation I made to budding entrepreneurs at the Growth Hub In Nairobi, Kenya, on the evening of the 26th September 2013. Its basically a startup primer with pointers on what to expect and other ideas from my own experiences.

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Before You Start Your Startup in Kenya - Moses Kemibaro

  1. 1. Before  You  Start   Your  Startup     A  Primer  For  Aspiring   Entrepreneurs  In   Kenya       Moses  Kemibaro   26th  September  2013  
  2. 2. A  li7le  bit  about  me…   •  Award  winning  TechBlogger  @   MosesKemibaro.com   •  Founder  &  Strategic  Advisor  at   Dotsavvy,  an  Award-­‐winning  Digital   Agency  established  in  Kenya  10  years   ago   •  Producer  of  PIVOT  East  2013  –  East   Africa’s  Premiere  Mobile  Startups   CompeSSon   •  Sales  Director  for  Africa  at  InMobi,  a   leading  global  mobile  ad  network  in   2012   •  Founding  Regional  Manager  at  Dealfish   East  Africa  (Now  OLX  Kenya)  for  online   classifieds  in  2010  &  2011  
  3. 3. Ideas  are  nothing  without   execuSon   Everyone  has  good  ideas,  the   difference  is  those  who  get  them   done  and  those  who  don’t.  
  4. 4. Learn  to  earn   Then,  make  the  leap  
  5. 5. There  is  no  such  thing  as  a   mature  market   Just  ask  Safaricom  to  share  some  ideas   on  how  this  works  –  everything  is  up  for   disrupSon,  EVERYTHING,  even   Safaricom  themselves!  
  6. 6. Your  idea(s)  are  NOT  unique   Do  your  homework.  Scope  out  the   compeSSon  in  Kenya  and  beyond.   There  is  almost  always  nothing  new   under  the  stars!  
  7. 7. Don’t  burn  your  bridges   You  could  need  them  later  on  
  8. 8. Don’t  fall  in  love  with  your  first   business  idea     The  more  business  ideas  you  have   the  be7er  they  get  
  9. 9. Nothing  succeeds  like  the  look  of   success   Fake  it  Sll  you  make  it(?)  
  10. 10. Field  test  before  placing  the  big   bet(s)   Its  low  cost  and  low  risk  
  11. 11. Fish  where  the  fish  are   Use  market  segmentaSon  and  the   80/20  rule,  always!  
  12. 12. Seek  co-­‐founders  who   complement  you   Spread  the  skill  base  as  your  startup   needs  it  
  13. 13. Leaders  are  not  born,  they  are   made   Acquire  skills  beyond  your  comfort   zone(s)  
  14. 14. If  you  fail  to  plan,  you  plan  to  fail   Think  business  plans  and  the  lean   canvas    
  15. 15. Investors  in  Kenya  tend  to  invest   at  the  NSE  and  buy  real  estate     Therefore,  think  it  through,  why  your   startup  instead?    
  16. 16. Investors  invest  in  businesses   and  NOT  business  concepts   Build  a  working  business  that  needs   investment  to  grow  and  not  just  to   start,  ideally  
  17. 17. Don’t.  Get.  Screwed.  By.   Investors!   They  are  “in  it  to  win  it”,  just  like  you,   remember  that  –  nothing  personal,   just  business  as  usual  
  18. 18. Is  your  startup  idea  globally   scalable?     Think  Global,  Start  Local     (HINT:  Its  worth  it!)  
  19. 19. Winning  a  startup  compeSSon  does   NOT  mean  your  startup  is  viable  as  a   business   This  is  the  biggest  wake  up  call  for  you.   CompeSSons  do  NOT  make  a  business,   Bub!  Real  paying  customers  do!  J  
  20. 20. Barriers  to  entry  are  incredibly   low.  Really  low.  Just  do  it!   Never  in  the  history  of  Kenya  has  it   been  easier  to  start  a  startup.   Everything  you  could  need  is  available.   Seriously!  
  21. 21. The  world  is  your  talent  pool   Outsource  globally  if  you  can’t  get   things  done  locally  to  world-­‐class   standards  –  its  like  being  in  the  global   champions  league,  mate!  
  22. 22. The  very  best  talent  tends  to  be   very  shy   It  could  be  right  under  your  nose  so   look  really  hard  as  it  could  mean   success  or  failure  for  your  startup  
  23. 23. Prepare  to  work  really  really   hard!   Its  a  lot  harder  to  execute  than  you   think!  FOCUS  is  key…  
  24. 24. Thinking  out  of  the  box  is  very   cliché   More  importantly,  BE  unconvenSonal   and  ACT  out  of  the  box!  
  25. 25. Tenacity  is  the  fuel  to  make  your   startup  succeed   Startups  are  NOT  for  everyone.  Be   prepared  to  fail  even  when  you  did   all  you  could  to  make  it  succeed    
  26. 26. Blog  what  you  love,  love  what   you  blog   Blogging  is  one  of  the  most  inexpensive   ways  of  building  brand  visibility  for  your   startup.  Just  ask  37Signals.    
  27. 27. Build  A  Brain  Trust   Experienced  and  Inexperienced   Entrepreneurs  will  help  you  know   what  to  do  when  you  need  it  most  
  28. 28. Murphys  Law  Happens   What  can  go  wrong  will  go  wrong  –   trust  me  on  this  one!  
  29. 29. Miracles  do  happen  in  startups  –   honest  to  God   When  they  do  happen,  be  very  very   thankful!  
  30. 30. Delegate  or  go  mad   Running  a  2  startup  oupit  not  same   as  running  a  20  person  business  
  31. 31. Business  is  Personal   Friends  and  Family  will  give  you  liq-­‐ off.  Referrals  will  keep  the  business   coming  in  
  32. 32. Ya  go7a  hustle  some…   Sell  like  your  life  depends  on  it.  True   story!  
  33. 33. The  fishing  is  best  where  few   dare  to  go   Learn  to  be  daring  –  you  may  actually   win.  Nothing  ventured,  nothing   gained.    
  34. 34. Your  Health  and  Wellbeing  is  more   important  than  your  startup   Your  family,  your  life,  etc  is   EVERYTHING!  
  35. 35. Talk  to  me…   Moses  Kemibaro   e:  moses@moseskemibaro.com   b:  www.moseskemibaro.com     t:  @moseskemibaro    

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