14 mins

S003: Starting Small – with Dr Henrietta Onwuegbuzie

August 10, 2016
Starting small in Nigeria Dr Henrietta Onwuegbuzie

S003: Starting Small – with Dr Henrietta Onwuegbuzie

In this episode, Dr. Henrietta Onwuegbuzie, a leading faculty at the Lagos Business School, explains with real life examples, the concept of starting small. In addition to that, this episode covers some of the potential landmines of starting big. It also describes how you can conquer big markets despite your small size.

Episode Takeaways

In this episode, you will learn

  • about the concept of starting small,
  • the dangers of starting big,
  • how to conquer big market despite your small size, and
  • why your big motivation for starting small should be…

Starting Small

One major challenge that faces entrepreneurs who set out to launch is learning how starting small. In fact, many believe that it is impossible to succeed this way. Therefore, if things do not go according to their business plans, they give up. Other times, the concept of fine-tuning this “great” idea and then setting out to look for investors consumes them. At the end of the day, they create a plan that is out of out with reality.

It is true that some have succeeded using the “fine-tune my idea and seek investor” way. However, this is only a small fraction of those who tried. Many other successful entrepreneurs started small: small with what they had and what they could readily get.

Starting Small in Nigeria Dr, Henrietta Onwuegbuzie Illustration by Laura Lozano

The best approach for Entrepreneurs

Starting small is no longer necessitated by lack of funding.  Instead, the need to be cost effective drives this approach. Our guest today, Dr. Henrietta Onwuegbuzie is no stranger to the concept of starting small in Nigeria. She leads sessions in entrepreneurship on the MBA and Executive programmes at Lagos Business School, Lagos, Nigeria. In addition, she has extensive consulting experience with SMEs in Nigeria.  She shares many reasons why entrepreneurs should start small.

In conclusion

Finally, if you have ever wondered how to attack big competitors despite you small size, this episode answers that question. Dr. Henrietta Onwuegbuzie opens up on a strategy that she has seen work many times. Listen to her now.

Today's Guest

Dr. Henrientta Onwuegbuzie leads entrepreneurship sessions on the MBA and Executive programmes at Lagos Business School, Nigeria. She is also currently the Academic Director for the Owner-Manager Programme and Project Director for the Impact Investing policy initiative at the Lagos Business School.

  • Joy Okoro

    I am glad to have listened to this audio, its educating and motivating. I learnt that starting small in business should not be over looked. Podlobe you doing a very good job and I look forward to more of this inspiring podcast.

    • Samuel Adeoye (The 7th Samuel)

      Hello Joy, thanks for taking time out to listen, Im glad its was worth the time! Should as you said, it is a big mistake to over look small beginnings. It was really fun and enlightening talking to Dr. Henrietta!

  • Atanda Oluwafemi Oluwatobi

    Wow, this makes big sense. To start with, I must commend your teams effort towards making this platform a novel one. I’ve learnt some key principles to having a sustainable business. Value creation before profit, letting your business outgrow you, starting small and make small mistakes and so on.

    Trust me guys, this is a place to be. You will never know the sweatness of a thing until you taste it.

    • Samuel Adeoye (The 7th Samuel)

      Whoa! Thanks Femi for the heads up! Exactly! Value creation is the most sustainable way to drive profit. In fact, Dr. Henrietta believes it’s the only way to win against giants in marketplaces. And I agree! People seek value, and size don’t matter if you delivering it!

    • We are glad you find our platform useful. Its our desire to help many listen, think and create the future others can only imagine. And we embrace our little beginning! What do you think about our website? Did you find it intuitive and easy to use?

  • Paul Dharblizz Tolulope Alasir

    Starting small has always been a problem. Thanks to Dr. Henrietta who shared valuable insights

    • A bigggg challenge for many. We are doing our best to take this to them. Not easy, but it is a challenge that we relish. If you know any one facing that challenge, just direct them here! Special thanks to our guest, Dr Henrietta. Words cannot describe her in-depth understanding of the entrepreneurship landscape in Nigeria, even Africa.

  • Nkem

    Enlightening, enriching, refreshing. Podlobe is doing a good job. Please keep it up.

    • Thanks a bunch Nkem. Yayyy! I’m glad found it enlightening! Thumbs up!

    • Hello Nkem, we’re glad you found it EEF ( Enlightening, Enriching, and Refreshing lol, we gave it an acronym already!). What was the most striking part about that episode for you? What made it stand out for you?

  • Thanks Bolu. Yeahhhh, if its Dr. Henrietta I can travel to Sambisa to listen to her. She is loaded with value! Lol… We will have her back soon. In the meantime, you can check out our other episodes. Im sure you will love the one on Crowdfunding!

  • Thumbs up Lady Tamera! You have just done a great job summarizing a profound message in one sentence. Special thanks to you and the rest of the early adopters of Swiych. It is because of guys like you we rid on in times of difficulties.

  • Chized

    To add to Dr Henrietta’s words, i’d also advice young persons never to underestimate hobbies and interests no matter how simple and trivial it may seem. Perfect soft skills and learn from more experienced persons, this would help in reducing idleness and dependency when they actually enter the labour market. who knows.. it could help them become buyers instead of sellers of Labour. Good job guys…

    • Hello Chized, thanks for your advice! You have point. This? This whole podcast called Swiych was churn out of a hobby turned interest. At that time, it was very very trivial. Ideas (especially the ones that are fun to you) are like seeds, they grow. So you are making perfect sense with this contribution.

      Thanks. If there is any you thing we can work on, let us know.

  • Onyinye

    Very enlightening. Small mistakes makes sense. Keep up the good work podlobe

    • Thanks Onyinye…We learn from them. There are some things, we learn better from experience itself. And there are some we learn from others. But small mistakes in business are good for growth. Thanks once again, anything you think we should work on?

  • Ileri

    I enjoyed this podcast Dr Henrietta definitely enlightened me a bit more on small businesses and money. You should have her do more on entrepreneurship related topics

    • Yes we will bring her back soon. Thank you so much for thank out time to reply. By way, what do you think about how podcast name?

  • Thank you so much Chika. You rock! Yeahh she did it again oo. That Dr. is loaded.

  • Podlobe

    Thank You Chika, Just as Samuel said, You rock!. We appreciate the web design review and we are working hard to make it even better. Thumbs up!

  • Omoloro Fasuyi

    I can’t be the only one that thought this podcast should have been split into two episodes. There were waaaay too many things i could resonate with. I was always like ‘hmmmmm’, and while i try to recover, she throws in another nugget. This was a very educative podcast. I am actually going to download it so i can send it to people. The place of finding values and addressing it is so crucial. There are a lot of needs to be met in this country/economy, but people fail to identify what value they want to add, and who their specific target market should be. We all want to capture as much as possible at once, instead of going for that niche. There is also the problem of sustainability. A lot of people just want to get the money today, without thinking about how it affects the future of the business.

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