Read our blog to see how the world works

Five Ways to Scale as a Fintech Startup in Nigeria

Successful companies adopt good business models to make their enterprise profitable whilst solving problems. It is important to note that these companies whose activities stimulate the country’s economy, do not just appear from thin air nor are they the end product of some abracadabra thanks to a conjurer.
To scale as a Fintech startup in Nigeria is not a walk in the park, you might as well visit Tanzania to climb Mount Kilimanjaro. From licensing to stifling bank regulations, this article highlights a few ways to reach the mountain top.

1. Do your research

To penetrate a market, you must do your own research to find out what is missing, why it is missing and how you can connect the dots. This is one of the most important stages of a startup lifecycle because your findings will determine how you will run your business eventually.

2. Recognize your Niche

Finding your niche is as important as picking a course to study. Your niche is where your strength lies. Now that you have completed your research, have recognized the problem and understood the processes involved to solve the problem, the next phase is to focus on the areas in which you are exceptional. The exceptional area is your niche.

3. Build on your Niche

Studying your chosen course is essential because it will become your area of specialization. you learn you build, you model and you improve.

4. Find your Market

After you have found your niche and built around it, you will need to find the people who need your products and/or services and sell to them. At the point of research, you must have identified the demographics of your market which would have guided you in building the said product or service.

5. Provide consistent service

In the event of providing your services or selling your product, you must be consistent in delivering to your market at this stage otherwise your mansion could come down crumbling like a house of cards.