I was present at the January 2012 edition of Mobile Monday Nigeria which held yesterday. It was an engaging time that gave those present the opportunity to take a look at the business side of technology.

I am sharing a few thoughts of mine here on some of the key points raised at the event. Hopefully, everyone can benefit.

Income In View

I have repeated this ad nausea for years – if you don’t start with generating income in view, you will go burst. Like Seyi Taylor said at the event, this is Nigeria. This is not Silicon Valley where ideas are funded.

You are on your own from the word Go, so you either have a viable business model from day one, cook one up as fast as you can, or your startup will soon be history.

I can give you a list of many startups that have gone with the wind for lack of a viable business model.

SetUp Processes And Systems

It is easy for founders of small businesses to get caught in the rung of doing everything. set up processes and systems as fast as you can, such that roles are clearly defined and followed.

Also, this means that the business can function as smooth as possible in your absence.

Differentiate

If you are doing what everybody else is doing, well….

If you are solving the same simple problem that everyone else is solving, well….

You see, the bigger your differentiating factor, the more difficult it is to be copied by anyone else, and the greater the value of what you offer.

An example: there are lots of blogs out there today, and the majority are publishing news. Well… anyone can publish news. There you go! need I say more?

Don’t Compete With Facebook; Use Facebook

Chances that you will replicate Facebook’s success are slim. Why would you want to compete with Facebook? Instead, use Facebook, Twitter and other such services to your advantage.

Don’t try to build a “Nigerian Facebook” or “Nigerian Twitter”. Turn those existing services into channels to achieve your goals. That’s thinking and acting smart.

Don’t fight the storm; ride the storm!