If you closely follow markets, the jumia IPO has caught your attention. It has breathed life into African tech startups that were stagnating after years of “high praise” from top business publications. Founders are raring to go again and build the next african unicorn.
It is all exciting till you get down to answering some tough questions; “what business am I in?, what need am I filling? (What problem am I attempting to solve? ), is this solution scalable (is it profitable? ), and is this industry growing or is it stagnating?
To build a unicorn is almost impossible, but we can build businesses that mean something to the people we intend to serve. And as these people interact with our almost perfect solutions to their needs and tell others about it, then maybe we may be able to build our own unicorns.
Stories like Jumia should not get us just excited, they should kick us out of our confort zones and get us to work. To actively seek ways to fill market gaps with valuable products or services.
Business and Investment blog 