Founder at Higher Capital Management Consulting/ Sworn translator-sworn translation services/ /consultant/strategist
Hey! There is definitely a business model and commercial viability. And this is why I would strongly suggest that you 'patent' your product before going out and looking for investors or clients. I say this with reference to squabbles that have occurred between a few inventors and Vodacom (the giant telecommunication service in Africa).
Look, in your case, there are strong advantages:'Nigeria attracts a lot of investors because of its greatest currency which is the population. The same population is already a great market and this is the reason why companies such as MTN-South Africa cling on Nigeria.
Based on everything you just wrote, you already qualify to get an audience from big Tech companies...
For you to make money, I suggest that you sell your services to an existing app company (Facebook,Google...) or/and to companies that manufacture items which could use your invention (cellphone companies,Network provider...).
Based on what you wrote and due to the huge market available in Nigeria, you already qualify to speak to them. And you can contact them directly.
Just make sure you patent your invention.
Now, this is my bonus advice: 'if you decide to partner with someone before meeting those big Tech companies, then I suggest that you require from that partner to not only give you 'seed money' but to also to bring to the table the ability to connect you with Big Tech companies. And he/she must prove that he/she can connect you.
I say this because sometimes just throwing money as investment is not enough.
Oh remember again:' Patent your invention...'
Your question really cracked me up...very funny!
Just to add on the presented responses to your question, this is what I have noticed:
* Most people fail to raise money because they fail to pass the Test of TRUST. Financial investments go hand in hand with trust which is earned in various ways.
During a fundraising presentation, prospective investors or funders ask some very common questions such as:
-Can we trust this company to get us a return on our investment?
-Does this company hold any tangible proof in the form of a VISIBLE product or past sales or purchasing orders, or past customers reviews?
-Does this entrepreneur show concrete work ethics worthy of our trust? (this is a very important question because most investors will not invest in someone who is lazy or with someone who only works 4 hour a week in his/her company)
Once an entrepreneur fails the test of TRUST, he/she can kiss goodbye any prospect of investment.
*Like you said in your question: 'some people churn idea after idea....'
Well, one of the golden rules of investment goes like: 'do not buy into an idea but buy into a tangible product'.
Ideas are unstable but an idea translated in a tangible product shows work ethic, stability in vision (something that investors want) and it commands a certain level of trust.
* And finally, many wannabe entrepreneurs don't raise funds because they lazy! That's plain and simple. One good way to measure laziness in fundraising is to compare the schedule of the successful fundraisers with the schedule of the failing ones.
You will notice that successful fundraisers move into 20 meetings a week to raise funds while the lazy ones may only use a one page social media on the internet.Such lazy entrepreneur should not expect a dime.
Since you are looking for a business partner who will work on commissions basis, these are the things you should for:
1. Experience: the individual should have an extensive experience in working without a fixed salary. He or she should be someone who has worked for commissions or profits share before. A newbie who is used to to a fixed salary may find it hard to adapt especially during times where business prospects will be hard to find.
2. A 'business bagger': A 'business bagger' is a person who is willing to bring 1 or more clients to you while joining you on board. Many law firms use that method before hiring a partner, they request that a new partner brings in one or few clients from his/her past work relationship.
You may be asking yourself: 'if he/she can bring clients to me from day one, why then does he/she not work from himself/herself?'
The reason why a 'business bagger' would join you is simply because they would receive from you a platform from which they will operate easily and profitably. They do not have that platform but you should (must) have it in order to attract the BEST HR partner.
What do I mean by platform?
A platform could be a great and reputable company name, or a comfortable office.....
3. HUMAN Management experience: Don't hire a partner who has never led people. Your preferred partner should have managed and led people before joining you.
If you need more info, please make a call or email me at: email@example.com
I have seen similar situations before...
There could be many reasons as to why a long standing employee may change his attitude towards his/her senior. Maybe there are also a couple personal issues that are influencing his change of attitude.
Have you tried to have a personal chat with him to find out if his personal life has critical issues to deal with?
Also I would like to give a good tip:'it is never good to give ONE employee the impression that an entire company depends on them solely. For certain people, it may get into their head and influence them to change. Based on what you have written, I can only assume that you publicly made him a favorite in front of all your other employees...
I can give you a few advice on that, just give me a call.
I do not see further details to your question, so I will respond in a wider manner.
First, If your company or a proeminent member of your company is involved in a scandal (whether personal or business), then you should definitely invest some money in people who know how to reverse the perception produced by the scandal.
Secondly, if you have built an expansion strategy for your company, then you may need to invest in PR in order to equate greater positive perception with the size of your expansion especially if you intend on moving in territories o regions where people have never hear about your services.
Laslty, PR can be a good investment if it will bring to you the 'key connections' or 'the key players' (e.g: political connections, influencers...)who can assist you in entering new markets. Most management consulting firms operate that way in Africa.
The number one rule of a great investor is: 'never buy an idea'.
Golden and experienced investors don't give money to people who present ideas. At first, I suggest that you turn your idea into a 'proto-type' or something tangible. Because many 'wannabe' entrepreneurs have great ideas that could make them millions (as they claim) but they always fail to present a prototype.
Secondly, when you have the prototype (something tangible) of the idea, you have to test it in the market in the form of interests from potential buyers or in the form a concrete sale...
Most entreprenuers fail because they never respect the first rule of business: 'in business, you create a product or service and you sell it!'. you don't over think it or you will ruin yourself....
When it comes to hiring people.: 'Your hiring decision MUST be justified by the demand you receive from the market'.
What do I mean?
i have seen entrepreneurs hiring armies of employees while there was no demand for their services...eventually the labour costs destroyed them to the ground.
At the stage where you are, with no money..I would suggest that you only hire for mentoring advice.
A good advice: 'you have to learn to pay for great advice'. Stop looking for free things because many of us (advisors) have fallen for that trap where people want things for free forever.
If want to be in touch, here is my contact:firstname.lastname@example.org