What does it take to build a successful tech company? Today, that answer is not very different from what it was ten years ago. While access to information, funding, mentorship, and opportunities is more available than ever, the fundamentals remain the same.
When I started building Nugi Technologies, I had a simple goal: to use technology to create transformative solutions for Africa. A decade later, along with my team, we have built a successful company that has grown far beyond that goal.
My journey as a founder has taken me across different terrains, from building software products with a small team to leading a multi-sector conglomerate. While each phase has required a different business strategy, a few lessons have remained relevant and valuable throughout. Lessons that will prove useful for Today’s founders.
If you’re building to last, not all decisions you make Today will yield financial gain. View strategic partnerships as investments in the future. They can help you access new markets, strengthen your credibility, and create opportunities that may not exist otherwise.
Be humble enough to stay open to collaborations. After losing a vital partnership opportunity early in my career, I made a conscious effort to collaborate and create long-term value because I realised that while I had the vision and a great team to back it up, it still wasn’t enough to succeed.
So, rather than settle for one-time payments, work toward long-term value instead. Of course, a company needs money to survive, salaries need to be paid, and offices maintained, but it’s important to strike a balance between the pursuit of profitability and longevity.
Beyond financial capital, another critical form of capital is your people. You’re not just building a product; you’re building a team — a team that should eventually outlive you. The key to building the right human capital is hiring people who understand what your company stands for, have a proven work ethic, and don’t require micromanagement.
Your team should consist of individuals you can learn from — people who can work independently, execute effectively, and consistently move the company closer to its goals. In the early days, you’re not just hiring builders; you’re hiring future leaders, people who will take the mantle from you and continue leading as the company grows.
Ten years down the line, most of our early hires are now in leadership positions. The lesson is simple: hire for skill, yes, but make sure that skill is matched with independence, a strong work ethic, and a deep sense of accountability.
Trying to build multiple products at the start of your journey will stretch you thin and drain your resources. Focus on one thing and do it well. That focus helps you build credibility, sharpen your expertise, and lay the required foundation for growth.
Once your initial product is firmly established, you can then branch out into other areas. However, if you focus on one product and it doesn’t succeed, then don’t hesitate to pivot; just be careful not to lose sight of your core purpose once it’s been set.
When I started, my focus was solely on software development. Although our first product, Cloud School, did not succeed due to a highly competitive market and other factors, we quickly pivoted and refined our focus. Today, we are a multi-product company.
In the early days, everyone wore multiple hats, so there’s no need to rush into rigid hierarchical structures. Focus first on the basics and most critical functions, then let the organisation grow organically. Even without a formal structure, your team should be set up for smooth workflows — and the hard work of team members should always be recognised and appreciated.
Whether you’re building in an established market with plenty of examples or in an underdeveloped ecosystem with few precedents, mistakes are inevitable. The key is to learn from them. Ask yourself, what was done right? What was done wrong, and how can it be corrected and avoided?
Looking back on ten years of my entrepreneurial journey, I made several mistakes, from not taking advantage of early partnership opportunities to hiring the wrong people and moving from Calabar to Lagos at a time when the company wasn’t financially ready, but with each one, we gained lessons that shaped how we operate Today.
If you’re building in a fairly established market, then study the frameworks of those who have succeeded in the same market: what they did, how they did it, and the pivots they made along the way. If you’re building in a market that isn’t yet established, then be ready to experiment, learn quickly, and adapt as you go.
Today’s founders have a clear advantage, with greater access to investors, accelerator programmes, and a growing openness among founders to sharing their failures, lessons, and pivots. However, none of this matters if the fundamentals are missing. For anyone building for the long term, your vision should be reflected in the decisions you make every day. Remember, a company’s success doesn’t benefit the founder alone; it has a meaningful impact on its users — the real people whose real problems are being solved.
While vision and strategy may shift over time, the fundamentals of execution remain the same. Today, what began as a single company focused on solutions for the B2B and B2G sectors has expanded into a group — a multi-sector conglomerate operating across real estate, media, and agriculture. It’s been ten years in this business, and my commitment to supporting young entrepreneurs and emerging talent has only deepened because the success of one is also a success for all in the entire ecosystem.
Whether you’re just starting out or already building, be intentional about leveraging the human and material resources available around you. Building is never easy, but when your daily decisions reflect your long-term vision and the people you serve, progress becomes intentional rather than accidental.
