Ojoma Ochai, Director, Arts, West Africa, at the British Council and Obi Asika, Founder Dragon Africa,Speakers at the 16th edition of CFA Startups Hangout- have identified how startups can leverage opportunities in the creative industry.
The hangout which was held at the premises of GoDo.ng, Ikeja Lagos, was full of interesting insights from the two distinguished guest speakers.
The theme of the 16th Edition was, “Converting your creativity to profits”. The setting of the hangout was most engaging and interactive.
Setting the ball rolling, Ojoma stated that, startups delving into the creative industry, often times, do not know what “they are selling”.
“In order to make sales, you need to be selling a specific product that people need”, she reiterated.
Ojoma further explained that, the quality of what you are selling, has to meet up with the quality required by those you are selling to.
Ojoma is also of the opinion that, the packaging of what you are selling really matters a lot.
She also admonished entrepreneurs, to present and comport themselves well and avoid overestimating themselves.
On his part, Obi Asika, described creativity as, first, the ability to see the opportunities in front of you and finding solutions to them.
“If you are creative and don’t know how to turn it into profits, partner with those who can help you turn it into profits”, he reiterated. Obi lamented the situation in Nigeria, where many are afraid of sharing and do not want to partner, so that, they will have 100% control of their businesses, which, in the end, is usually worth 100% of zero!!!
Obi, however, said the terms and basis of your partnership should be documented in an agreement and signed, to avoid problems in the future.
He explained that it is not easy to turn creativity to profits and anyone who thinks it is easy, should not even start.
Obi is of the view that, the focus should not be on your personality, but on your solution. “Move with the time by changing with it, to the new trends that are emerging”, Obi explained. This is for you to remain relevant for a long time.
“You should have a laser focus on your idea and and it’s execution, if you are looking to make profit from your idea”, Obi concluded.
Concluding, Ojoma dropped the clincher, by emphasising that, “money comes from systems and processes and execution and not from creativity”.
The convener of the CFA’s Startups Hangout, Chukwuemeka Fred Agbata Jnr, thanked the two speakers for the value they brought to the discussion.
He also expressed delight at the patience of the attendees, noting that no one left in spite of the fact that time had rolled by.
“This is a testimony to the value that the two speakers brought to the subject”, he concluded.
The next hangout comes up on September 20, 2018.