I really like the discussion on the Afropolitan Podcast. The guests and discussions are really great quality. I'll put two episodes in my Sunday routine going forward.
Local investors were criticised for being “PE funds disguised as VCs” because they required startups to show stronger proof of success before providing funding than many foreign investors did.
<Why is it harder to raise funding in Nigeria?>
— Presten breaks this down on the Afropolitan podcast
“I remember when they did the annual fee, maybe it was last year and there was some noise on social media..when I’m there thinking they need cash flow..
Training for instance I hear Yomi (of ifitness) talk about how they have to train all their personal trainers so that you feel that you’re getting the same experience everywhere
And of course they have to make money ..”
Preston speak on the economics of scaling a business on the Afropolitan podcast.
“We have a lot of business that actually are not passed down because they’re not structured for external people to come and take them over.
Today if you’re coming from the tech space you’re building businesses to pass on to another business .
It’s not a shop where my son or daughter will take over..”
Preston speaks on the Nigerian culture of One-Man business without adequate systems.
He believes this culture prevents businesses from reaching greater heights, paving the way to generational wealth
🎥The Afropolitan Podcast
Rwanda might be the most impressive thing we've built in Africa in a generation. And it scares us, because we're not sure it survives one man.
It's the same reason most family businesses die with their founder.
A system that needs one person is always one person from collapse.
“I remember when they did the annual fee, maybe it was last year and there was some noise on social media..when I’m there thinking they need cash flow..
Training for instance I hear Yomi (of ifitness) talk about how they have to train all their personal trainers so that you feel that you’re getting the same experience everywhere
And of course they have to make money ..”
Preston speak on the economics of scaling a business on the Afropolitan podcast.
Rwanda might be the most impressive thing we've built in Africa in a generation. And it scares us, because we're not sure it survives one man.
It's the same reason most family businesses die with their founder.
A system that needs one person is always one person from collapse.
Iyin Aboyeji came on our show and gave us an assignment.
"There needs to be a space created." A place where people serious about building can find each other.
He said he's hoping Afropolitan is the one to take it on, because there are too many jokers around.
That room already exists. It's called The Room, and this Sunday we show what happens inside it.
Two members present what they're actually building, live. One in AI, one in fintech payments.
The rest of us go to work for them. Questions, intros, honest feedback.
Members only. Sunday July 26, 12PM ET / 5PM Lagos.
RSVP: https://t.co/V9qfh6EhZu