Founders in the startup journey in Nigeria always wonder how to raise money. People say it’s hard to raise money anywhere. I think it is ten times harder to raise money in Nigeria for a couple of reasons:

Nigerian tech is still in its early days.
Local angels who are meant to stimulate the ecosystem don’t understand tech investment.
Access to foreign investment isn’t straight forward etc
A bunch of entrepreneurs and I met with Sim Shagaya (CEO of Konga.com) recently and the first question everyone asked was “does schooling in America or Europe give you a better chance?”. He answered “Not exactly”, stating that most Nigerians who study in Nigeria usually have that hunger and desire to do great things. He went on to say that majority of the top 10 richest people in Nigeria didn’t school abroad. Jason Njoku also echoed the same sentiments at the TechCabal Sessions last year.

However, I feel even though studying abroad doesn’t guarantee investors will throw money at you, it has its advantages, that is, making the right connections, getting acquainted with how funding works and gaining trust.

It’s unlikely that big VC firms like Tiger and Kinnevek will fund early stage startups. If Nigerian startups will get seed and angel funding therefore, local angels with have to get into the mix. 440and Spark have done well in this regard. We need more.

Getting funded is luck ie opportunity meeting preparation. For the founder who is waiting to get funded. Here are a few things you should do:

Get started: It 50% easier to get people interested in something you’ve tested and is working than an idea you have in your head (Build-Measure-Learn). Also, a simple business model that requires little capital to start and doesn’t involve government regulation will always interest investors. Market size and growth potential is also a factor.

Get traction: It could be revenue, users or page visits depending on the type of business you’re in. Investors are turned on by numbers.

Get knowledge about funding: The more you demystify how funding works the better equipped you are when talking to potential investors.

Get a mentor: A mentor who is into tech will also help a great deal as they can show you how things work practically and possibly introduce you to potential investors.

Sell: Sell yourself, your team and your product. A great pitch will improve your chances with investors.

That said there’s no perfect formula to getting funded. Over 90% of companies will eventually fail and even a greater number will never get funded. Hence, it’s better to build a business that can create real value and grow organically.

http://juwonosobu.me

I have failed at many things. I’m deeply passionate and my beliefs are usually what drives what I do and as such it’s really painful when things go south.

I quit my job at Ruff’n’Tumble in April 2012 to start 1500naira.com. I loved the job and my boss really wanted me to stay but I was convinced about my next step. We launched in June 2012 and we gained traction really fast. We raised $7,000 about 6 months in. However, we hit a snag. Our margins were really low and we could only increase it at scale but we couldn’t raise more money as investors weren’t convinced about the company’s potential to become profitable. Eventually, we had to sell the company to people with deeper pockets to give it any chance to thrive. My dreams of building Nigeria’s biggest low-priced goods online portal had vanished and I was also out of a job.

Grieve, but don’t milk it
It’s comforting to be able to unburden yourself to people in challenging times as it helps the healing process but you could get carried away. You may even start enjoying the attention and pity that you’ll forget to dust yourself up and get going again. I started working on Jay Osbie one month after I left 1500naira.com.

Use the lessons, because success is a lousy teacher
We were attracted by the possibility of being able to sell products at a price point when we started 1500naira.com and nothing else mattered at the time. I soon learnt a lot about gross margins, net profits, cost of sales etc and this helped me get better prepared for my new venture.

Embrace failure, it’s better to face your fears
The knowledge that it could all go wrong at any point is always a humbling feeling and it helps you focus on what’s important. I know that the only mitigant against failure is growth, hence I’m always seeking to grow on a personal level and as I also figure out ways to grow my company.

Feel free to share how you have dealt with failure in the past, you’d be surprised at how empowering it is.

Find more inspiration on http://juwonosobu.me

An online start-up is looking for a dynamic Social Media Officer.

REQUIREMENTS
• An indepth knowledge and understanding of Social Media Platforms and their respective participants
• Ability to effectively communicate information and ideas in written and verbal format
• Previous experience in a similar role
• Must be able to multitask and deliver on set objectives.
• Preferably female.
• Post NYSC

**Indicate the role you're applying for in the subject of the email

Interested Candidates should send their CV and cover letters to hr@1500naira.com

This a great opportunity for students (especially those on strike) to build their CVs and gain working experience in the e-commerce industry

REQUIREMENTS

• Must be in at least 200L or Awaiting NYSC
• Good spoken and written skills
• Computer proficiency (word, gmail, social media etc)
• No work experience required
• Must have good knowledge of female fashion and latest trends
• Must be intelligent, have good attitude, interpersonal skills and willingness to learn.
• Age Limit: 25 years and below

**Indicate the role you're applying for in the subject of the email

Send CV and cover letter to hr@1500naira.com

Gio Goi Easher T Shirt in White, Crew neck design with a ribbed neckline and short sleeves. Large photographically printed Gio Goi image and logo design on the chest in reflective blue. The signature woven Gio Goi logo label is on the edge of the left sleeve as well as another printed logo in blue on the reverse of the left shoulder.

- 100% Cotton.
- Reflective Blue Design.
- Available in Small, Medium, Large and XLarge

You can order it here http://1500naira.com/gio-goi-easher-foil-tshirt

You might have heard about a certain Alhaji Hakeem Garba and his 2nd in command Engineer Bayo Balogun who allegedly duped over 200 people who were seeking accommodation. If you haven't, you can read it here: http://www.punchng.com/metro/developers-dupe-over-100-prospective-tenants/

You might have also heard about his arrest. If you didn't you can also read it here: http://www.punchng.com/metro/duped-tenants-police-arrest-developer/

Well, the man was charged to a magistrate court last week. At the court, the magistrate court judge granted him bail even though no lawyer was present to make an application for his bail and the judge allowed his brother (who was also part of the fraudulent scheme) to stand surety for him without appropriate documentations being made. Garba was meant to have been remanded at Ikoyi prison but the warden's at Ikoyi prisons said he was never there.

Now, the man who duped over 200 house-seekers to the tune of 54 million naira is walking free while the victims are experiencing misery and untold hardship. Some people have been rendered homeless. Some marriages are disintegrating on his account. Some children have been made desolate. The Nigerian Judiciary, Police and Prison's commission have once again failed Nigerians.

Bribes have exchanged hands and duties have been neglected once again to satisfy selfish person interest. Greed has once again overruled the sense of common good. Is there any hope of redemption for the victims and for Nigeria?

Below are pictures of the developer (on the phone), his brother (wearing the white hat) and the building at 12, Daniel Makinde Street, Ketu, Lagos

Ms kwin: @jayrome, thnx for d info! God Bless!!!

God bless you too ma'am

bomar: Pls can d scul certificate be used in place of the statement of result?I mean 4 d registration

Yes, anything from your higher institution that shows that you've successfully completed your program. (Statement of Result, To Whom It May Concern, Certificate etc).

Your whites are pretty essential for your day-to-day camp existence. They're your uniform, sleepwear, casual wear, party clothes etc

Get your full NYSC kit on www.1500naira.com/nysc

- A pack of 3 White Shirts = N1,500
- 2 White Shorts = N1,500
- A pair of White Tennis = N1,500
- Waist Purse = N1500
- A Dozen of White socks = N1,500

Also don't forget your MOSQUITO NET, BEDSHEET, TOWEL, PROVISIONS etc.

Follow us on twitter: @1500naira
Like us on FB: facebook.com/1500naira

Have a great time serving your country!!!

waleco2008: Your no pls text me on 08026267624

You can reach us on +234 (0) 812 858 2866, +234 (0) 817 014 4322 or @1500naira on twitter.

ife01: Can you deliver it?

Yes, we deliver nationwide. Charges apply.

Whether you iron your clothes by the batch in a marathon session or by the piece as you're heading out the door, a good steam iron can be your wardrobe's best friend. Every home should have a top quality steam iron and you can find one here at a bargain. This 1400 watt steam iron by CROWN STAR comes with some fantastic features such as:

Non-stick soleplate
Soft-grip handle
Vertical Steam
Temperate Control
Pilot light
250ml water tank capacity
Crown Star is a major electronics brand in Nigeria

Make great toasted sandwiches with this Sandwich Maker. Featuring nonstick surfaces, an indicator light and a cool-touch handle, this sandwich maker will make a stylish and convenient addition to any kitchen.

Features

Overheat safety protection
Non-stick coated cooking plates
Thermostat control for consistent results
Indicator lights showing cooking status
Lock system for secuurity while cooking
Cool touch feel on the exterior and handle
Easy to clean and use
Compact and ergonomic design
Cable storage provided at base
Rubber feet for firm grip

youngdee168: Thanks for the info, pls do we buy the nysc kits on arrival to camp? Or is it given out to corpers for free?

You will be given two white shirts, two white shorts, two pairs of socks and a white Tennis but it will fall apart after the first wear so it will make sense for you to get yours before camp so that you won't be stranded.

It’s never easy packing bags, saying goodbye to family and friends and the heading out on a long journey to a distant land where you may not know anyone. This is often the case with many prospective corps members. Here are a few tips on how be comfortable away from home on your service to fatherland.

1. Try to find friends, acquaintances or former schoolmates who may be heading in the same direction. It will help you feel comfortable on your trip especially if you’re going very far.

2. Ensure that you pack all the essentials such as toiletries, towels, bed sheet, provisions and all other things that will make you comfortable in camp. Dettol, Mosquito net and cardigan should be top on your priority list.

3. Buy your NYSC kit early so that you can find your appropriate sizes and avoid last minute rush. Extra white shirts, shorts, tennis and socks are essential because they will be your uniform and camp and the ones that will be issued to you will be inadequate. You can buy them on http://1500naira.com/nysc , it’s really cheap and they deliver nationwide.

4. Get all important documents you need for registration to avoid being sent back home:
* Your Final Year Student ID card
* The Notification of Result from your higher Institution (ORIGINAL and photocopies)
* Passport Photographs (You might not need more than 4 copies but it is better when you have many copies with you)
* NYSC Call Up letter (ORIGINAL with photocopies)

5. On your trip, make sure your phone is fully charged and maybe even keep an extra battery especially if you’re going far so that you can reach out to people whenever you need to.

6. Travel light. Make sure you pack very little extra clothing apart from your whites as you’ll only need them after camp or whenever you’re going to town.

ENJOY!!!

@Debbie Yes it most definitely is, just try to keep an open mind towards it. It has it's moments

Prospective NYSC corps member are usually anxious as they are not sure of what to expect from camp, call it “fear of the unknown” if you like. That’s why I decided to share my personal experience to give you a feel of what it’s like.

THE GOOD
New Friends: You’ll get to meet different people in the NYSC camp. Graduates from different institutions of higher learning in Nigeria and maybe a few old friends and classmates too. You might even run into your primary and secondary school mates.

Fun: It’s usually one last opportunity to live that exciting, carefree “student-life” before the pressure from parents to get married, get a job or get a Master’s Degree sets in.

Activities: If you consider yourself an action junkie i.e. the type that likes to get involved in many things, then the NYSC Camp is just perfect for you. Parade, Football, Volleyball, Drama, Dance, Obstacle crossing are just a few of the activities to get your adrenalin pumping.

Team Spirit: You’ll be grouped into platoons based on the last digit of your number and the platoon will serve as your family in Camp. Cooking, cleaning and competing together against other platoons will help you bond with your team members.

THE BAD
Personal Time: Camp life is military in nature. Your time isn’t yours and you’ll be called in the morning, afternoon and night to participate in different activities and you either comply or face punishment. If you’re the type that enjoys sleeping, you’re going to be deprived during the 3 weeks.

Food: Camp food leaves a lot to be desired. The taste and quality isn’t fit to be served to refugees not to talk of University graduates serving their fatherland. So make alternative arrangement i.e. Provisions and money to eat in “mami”.

THE UGLY
Bathrooms: When the facilities are grossly inadequate for the demand, abuse is inevitable. This is the situation in most camps in Nigeria, so brace yourself and prepare for the worst.

First day: After your “private” belongings are thoroughly scrutinized, you will be made to carry your load on your head and made to run like you’re being chased. And this will be in the presence of cool boys and girls who are already present in camp. But don’t take it to heart; they also went through the same process. #AllNaWash

Theft: After putting together all your necessities and maybe some few luxury items for NYSC camp, you wake up one day and find one or more things missing, it can be really frustrating. Always sleep with one eye open and make sure your stuff is secure at all time to guard against losses.

A PIECE OF ADVICE
Be alert and security conscious at all times and try to learn the cultures and traditions of people beforehand so that you won’t do or say offensive things that may land you in trouble. Also, make sure you have extra money stashed in your account as you may need to sleep in a hotel or take an emergency trip.

wow offer

Whether you iron your clothes by the batch in a marathon session or by the piece as you're heading out the door, a good steam iron can be your wardrobe's best friend. Every home should have a top quality steam iron and you can find one here at a bargain. This 1400 watt steam iron by CROWN STAR comes with some fantastic features such as:

~Non-stick soleplate
~Soft-grip handle
~Vertical Steam
~Temperate Control
~Pilot light
~250ml water tank capacity

Crown Star is a major electronics brand in Nigeria

Log on to www.1500naira.com
OR follow on twitter @1500naira
OR facebook.com/1500naira
OR BBM: 287189AA

1500naira: Hello everyone,

We are new in town, we are here for you, to make you smile and providing that look you have always wished to have at a super affordable flat rate of N1500. Some people think we are crazy but we tell them we are happy been crazy to put smiles on peoples faces. WE ARE www.1500naira.com

Anything and everything - shoes, slippers, jeans, tops, tees, awwww!! list endless @1500naira . So fella, wot are you waiting for? Start making orders, come, share part of the fun and please don't forget tell a friend about us.

This is mind-blowing

Available

tunjiano: Is this exactly hw it is?i'm interested 4 23k,whr is ur location cal or text me on 08096568995,07065629472

I'm in Lagos. I'm sure it won't work @ 23k.

Available

Very Clean blackberry Torch 1 for sale. Interested buyers in Lagos should contact 08038342406 or pin:28D119FD.

PRICE: N30k

JAY OSBIE

Jay Osbie is an online store that deals in a wide range of fashion merchanise.

... It's more than just fashion, it's a lifestyle

Find us on twitter: @JayOsbie
On BBM: pin:28D119FD
On Web: http://www.buynownow.com/jayosbie.html

gogetter09: 25k,... let me pick up

I put it at 30k so that I won't have to negotiate.

Very clean blackberry Torch 1 (Black) for sale in Lagos.
Last Price: N30k.
No swaps.
Contact: pin:28D119FD or 08038342406

I'm in Maryland, Lagos and it's 35k.

Hasn't been used for long. Very clean and in good working condition. (As seen in picture) Contact 08038342406 or BB PIN: 28D119FD

OTEDOLA, LAWAN and the rest of them are thieves... Ask yourself these

1. Why does Otedola have two companies importing fuel hence collecting subsidy with fronts

2. How did Otedola get two companies registered? was there no bribery involved.

3. Is this the first time Otedola is bribing a politician/government official? If not, where are the other videos?

4. Since it was a "sting operation" why is Farouk Lawan and the marked money not in police custody as we speak?

5. Does helping the police catch Farouk absolve Otedola of any wrong doing?

6. Is Farouk Lawan the only one involved in this?

The questions are endless really, just goes to show that the polity of this country is a joke in the hand of rouges... It's nice when they do this to themselves though...

We will take it all back from them soon. But we need a clean hearts ourselves. Most of us are THIEVES!!!

Find all your NYSC stuff here www.1500naira.com

A pack of white shirts (3)

White Shorts (2)

Waist Purse (1)

White Socks (12)

White Tennis (1)

Just N1,500 per item

Log on to www.1500naira.com, email info@1500naira.com or ADD on BBM: 287189AA