the business of numbers - neclive · 2020. 2. 11. · to prove the concept: i launched the business...
TRANSCRIPT
THEBUSINESSOFNUMBERS
FEYIOLUBODUNMD/CEOInsightPublicis
ACHALEKESeniorPartner&ChairmanofMcKinsey’sAfrica
Corporate Finance Institute®
GENERAL MARKET STATISTICS
- 70% of the Nigerian population is under 35 years old - In 2014, there was a 68% increase in smartphone usage; 85% increase in mobile phone calls - 77% of the connected population spent more disposable income on data and 83% used their smartphones for
browsing the internet. - On average, 55% of the connected population reported an increase in online shopping behavior.
(Source: Nigerian consumer panel, conducted by Answered for Insight, Nigeria 2015)
- Young people between the ages of 15 and 35 make up 43% of the country’s total population. That’s a whopping 72 million people. - For these young people, the official unemployment rate stands at 54%, and there are more than 20 million unemployed young people between the ages of 20 and 35. - At the normal rate of population growth, there will be more than 650,000 young people entering the labour market this year alone. - These numbers only begin to illustrate the dire need for job opportunities and skills acquisition and training for Nigeria’s young people. (Source: Nigerian National Bureau of Statistics)
Corporate Finance Institute®
Youth Unemployment
Media Share Growth
Media market share
2015
2016
2017
Market Trends
Corporate Finance Institute®
Market Trends
“DigitaltransactioncompanyInterswitch’sfoundernotedthepilesofcashNigeriansusedforeverydaypurchasesandbuiltNigeria’selectronicbankinginfrastructurefromscratch.Thisisatrulydisruptivebook,suggestingthattoday’sambitiousentrepreneurslooknottospaceorsiliconbuttothesavannah.”
WHAT IS BOOKINGS AFRICA?
It’s an online marketplace for creatives in Africa that facilitates the process of booking the personnel services required for media production.
On one side, it enables freelance media creatives (hosts) to create profiles and list their services, skills and prices.
On the other side, it provides the media and entertainment industry (clients) easy access to hiring the staff needed for their production.
With both host and client having profiles as well as a rating and reviewing system, this creates a trust-worthy community.
STARTUPCHECKLIST-BUSINESSPLAN-BUSINESSMODEL-GOTOMARKETSTRATEGY-PITCHDECK-VALIDATION-PERFECTPITCH-VALUEPROPOSITION-FINANCIALS,RAISINGCAPITAL-COMPANYFORMATION
HARVARDi-LAB
STARTUPVALIDATION
MinimumViableProduct
Don’tassumewhatpeoplewant
PROOFOFCONCEPT–thatcustomerswillrespondto
Minimumproductyoucanbuildtotestifyourvisionexists/solvestheproblem
“What’sthesmallestthingIcandototrytofigureoutifit’sabusiness?”
1) Findaproblemworthsolving– landingpage,gatheremailaddresses,signup–thisgathersdatatoshowthere’sinterest
2) WillpeoplePay?– Interestonsocialmedia,shares,likes,conversionrate,pricetest3) Howdoyougetpeopletoyourpage?– KYC,BusinessModelcanvasforthatTG4) CustomerInterview– Understandfrustrations,mainproblems,helpsyouprioritize
theissuestosolve,knowhowtofixtheissuesmarterthancurrentcompetition.
Corporate Finance Institute®
Traction so far…
Feb Pre-Registration 600+ Models150+ Photographers50+ Voice Over Artists200+ MUA40+ Hair Stylists15 Clothing Stylists5 Locations
Manual Clients3 Ad Agencies2 Prod. Houses5 Direct Clients
BOOKINGSAFRICA
TOPROVETHECONCEPT:Ilaunchedthebusinessalongsidethepre-registrationwebsiteinJanuary2018andstartedmanualbookingsTOTALSALES(pre-website)JANUARY2018:N1,550,000(equivalenttoanaverageof39bookingsatN39,285each)FEBRUARY2018:N2,050,000(equivalenttoanaverageof52bookingsatN39,285each)TOTALSIGNUPS(JAN2018-JAN2019)1,977talentGROSSREVENUE2018N15,600,00020%COMMISSIONN3,920,000
SNAPSHOTOFADMINPANEL
