Building A Startup: The Founder’s Journey

Every entrepreneur’s journey starts with an idea, but transforming that idea into a successful business requires more than just excitement. It requires careful planning, testing, and constant refinement. Saidu walked us through the key stages of starting and growing a business, highlighting both the rewards and the challenges along the way

The Story of Tsingiri Corp

Founded with the vision of solving real-world problems in IT and telecommunications, Tsingiri Corp initially focused on retail sales of IT gadgets. However, the path wasn’t without obstacles. During the e-commerce platform development, the team identified several bugs that could potentially deter investors.

Instead of pressing forward with a problematic platform, Saidu and his team pivoted to continue operations onsite while working on refining the online platform. This decision proved pivotal in allowing the startup to build its foundation before venturing into e-commerce.

"Before diving into execution, ensure you're truly ready by thoroughly researching and validating your product or service".

Choosing the Right Problem to Solve

For any startup, the first step is choosing a problem worth solving. Saidu shared his experience from school, where he and his team would “farm opportunities”—actively identifying challenges that they could innovate solutions for.

He used the example of Suya Milk to illustrate how a unique product offering, like a great brand, taste, and value proposition, can make a difference in a competitive market. The key, according to Saidu, is to ensure that your solution stands out in a meaningful way.

Prototyping and Testing: The Crucial Stage

Once you have a solid idea, prototyping and testing are the next steps. Saidu emphasized that this phase is all about experimentation and learning. A successful startup cannot launch without first gathering feedback from real users.

Using the Suya Milk example, he mentioned testing a small batch with friends and neighbors to get valuable feedback, which helps optimize the product before scaling.

“A successful founder eliminates self-doubt in their idea.”

Overcoming Challenges Along the Way

Building a business is no easy feat, and every founder will face challenges. Saidu highlighted several common hurdles:

• Funding and Resource Constraints: Securing initial funding is often one of the toughest parts of starting a business. Saidu turned to his first boss for investment and leveraged a family loan with his father as a guarantor.
• Goal Setting: Using the SMART criteria (Specific, Measurable, Achievable, Relevant, Time-bound) helped Saidu set clear, actionable goals.
• Team Building: Surrounding yourself with a capable and supportive team is essential. Managing people and overcoming self-doubt are key to sustaining momentum.

Q&A Highlights:

Q1: Funding and Loans – What Do Institutions Require from New Founders?

In response to this, Saidu explained that securing a loan requires a solid business plan, financial projections, and a guarantee. Some of the key documents include:

• A business plan with market analysis and financial projections
• Collateral or a guarantor to back the loan
• Personal and business credit history

Q2: Cash Flow Management – How Did You Get Good at It?

Saidu confessed that he didn’t come from an accounting background but was able to navigate cash flow management through consistent learning and planning. He stressed the importance of monitoring expenses and ensuring that cash flow is managed properly from the start.

Closing Thoughts:

The founder’s journey is full of ups and downs, but success is possible with the right mindset, planning, and persistence. Saidu’s story is a reminder that challenges are part of the journey, and overcoming them is key to building a sustainable business.

Thank you, Saidu Samaila, for sharing your wisdom with us today!

I hope this session provided valuable insights to fuel your startup journey. Stay tuned for our next session, where we’ll continue exploring the strategies behind building a successful startup.

Until next time, stay innovative!

P.S.
Feel free to reach out with any questions or feedback. I love hearing from our community of tech enthusiasts!

Gloria Momoh

SSX Cordinator, ETF Community.