30 Lessons We Learnt From The Next Economy Expert Session at nHub Nigeria

nHub and The Next Economy organized sessions where expert got to share their knowledge to new and aspiring entrepreneurs about better ways they can reach more people with their products and services.


The sessions lasted from 7th-11th of August, we spent time talking to the experts and here's everything we learnt from our discussion:

On Crowdfunding Canvass

This session was held by the crowd funding expert Bashir Sheidu. According to Catherine Clifford, a senior Entrepreneurship Writer at CNBC; the philosophy of crowdfunding is idealistic and optimistic: it's about everyday people having the power to give life to new businesses. Crowdfunding has launched countless dreams that might not have come through. Sitting with Mr Bash, we learnt;

1. Having a reasonable budget is crucial if you want to have a successful crowdfunding campaign.

2. As a business owner, you should only put what you need to start the business.

3. Have a catching but true story that would sell your idea to the potential investors.

4. Get your friends and family members to believe in your dreams as they play an important role in the success of your crowdfunding campaign.

Lastly, we learnt that it is important to spend a lot of time working on your campaign.

On Business Model Canvass 

According to Wikipedia, Business model canvas is a strategic management and lean startup template for developing new or documenting existing business model. The following is what we took from our discussion with Mr Eric Nanle;

1. Your business or business ideas has got to be able to solve a problem.

2. Your value proposition has to be better than your competitors as that's what going to drive customers to you.

And lastly, the ability to clearly communicate your ideas and vision is crucial in a corporate or start-up venture. You need a convincing story to get your team, managers, or investors excited and turn an idea into a reality.

Mr Nanle also gave us a business model canvass, one you can get by filling the form below;

Form.

On Creative Campaigns 

We moved over to talk to Mr Theodore Longi; the business strategist and creative campaign expert. Mr Longji taught us the following:

1. For your business to really succeed, you have to bring something new to the table. 

2. Creativity is what makes you stand out from your competition. 

3. Always keep finding new and creative ways of reaching out to your clients. 

Lastly, branding is important, make yourself stand out.

On marketing and Product Development 

Juliana Alu;  the marketing specialist was the next person on our list and the following is what we took from the conversation; 

1. You cannot sell a product without creating awareness.

2. Always make your product attractive to your target audience. 

3. The four P's of marketing; Product,Price, Place and promotion are what makes you stand out from your competition. 

Lastly, great marketing doesn't happen by pure luck, effective marketing takes a lot of planning and research. 

We spoke to Barrister Lois Nanle who also happens to be a marketing consultant and here's what we got from our discussion with her;

1. If you want to develop a new product, you need to know your target customer's needs, wants and preferences. So do your research.

2. You not only need to know what you are developing, you need to completely understand why you are developing and where the new product will take your business. 

3. Do not rush into conclusion, take time to explain things the way you understand them. 

Lastly, always be one step ahead of the competition, keep trying new and better ways of satisfying your customers. 

Social Impact and Media Strategy

Next we spoke to Mr Samuel Famolu, the social impact and media strategist. 

Social impact strategies are designed to improve an organization's overall mission -- not just it's brand identity. Social impact strategies contain clear corporate objectives and measurable public deliverable's. The following are what we learnt from our conversation with Mr Samuel;

1. Developing a healthy relationship with the key players in your industry is crucial to your success. 

2. Businesses should always be learning new and better ways they can connect to their clients.

3. How you represent your brand on social media should be in line with your dreams and goals for your business. 

4. Social and physical interactions with individuals that are interested your chosen niche is important for every business. 

Lastly, be entertaining, no matter what product or service you are offering, always find better ways of delivering your service or product to your customers.

Pitch and Story Telling

The next expert we spoke to was Mr Victor Meshak, the spoken words expert. The followings are what we took from our discussion with Mr Victor.

1. In order to reach the right people in the right places, brands need to consider the best way to effectively communicate these strategies across multiple regions. 

2. Begin from where you are.

3. Develop the mindset that ownership and originality is very important. 

4. Begin locally, then go global. 

It was a very valuable and informative experience for every member of our team. These individuals all had something valuable to contribute and they didn't hold back. 

Top Quotes from the participants:

"For anything to be fruitful, it has to start with an idea - a business idea." - Eric Nanle

"If your idea or solution does not affect my life in any way, then you have to go back to the drawing board" - Samuel Famolu

"When you don't have a story, you don't fit into any society" - Victor Meshack

"There is no business that can scale without seed funding" - Bashir Sheidu

"To tell a story, there has to be substance" - Barr Lois Nanle

"Everyone is a marketer" - Juliana Alu

"Creativity is what makes you stand out" - Theodore Longji

We had a great time at this edition of the expert session and we are already looking forward to the next! 

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