How a 20,000 loss saved me from losing 7 million

Wow! I have sorely missed blogging. I must apologise to you all, and appreciate everyone who showed concern and contacted me during the last few days when this blog was off. I am fast learning a lot in this entrepreneurial journey.

I will share with you some things I have learnt since I decided to start and register Credicoins Network ltd. I have so many things to say/blog about, but I will patiently say them over the course of the following week. These and many more are the few things I have picked up so far:

1.  When hiring people (no matter how sincere their intentions to help you), they will overestimate their abilities, and underestimate the challenges ahead...unless they are truly experienced at it. And will disappoint and even derail you. Yes, the first thing I learnt is about hiring people, and it is reflected in the title above. I was looking for an experienced Web developer/IT personnel to come on board my team, and got a couple of people who said they could deliver what I need. One of the persons (who is still on board but in another capacity though) gave me a quote of N7 million for the main site, and got a job of N20, 000 from me for this present site. The way he has handled the job of N20, 000 has convinced me that he won’t be able to/cannot handle the other job for which he gave me a bill of ‘N7 million.’ While not condemning him, I believe he just didn’t understand the job description, or perhaps really isn’t experienced at it.
   
   When I eventually spoke to another person- who now will be in charge of the whole IT dept, I knew instantly that he was the one I was looking for- He dissected the project and explained everything that needed to be done and how it will be done. I am still hooked.
2. Murphy’s law: Everything that can go wrong will go wrong. The key is to anticipate and adapt quickly. 2 months ago, I told a friend that I was about to register a company, and then he also decided to start his own process. Today, he already has his own CAC certificate of registration, and I am yet to get mine. Things will not always go as planned.
   
   In fact as one start-up website put it, ‘Have a plan in case your plan fails’. While preparing your start-up's business plan, prepare also, as if your business plan will fail. It says entrepreneurs/start-ups do not always do what was in their original business plan. The example given was that of Paypal which started out majorly to be a payment processor between Palm pilots but developed fully as an Ebay-based payment processor. Today, most of us don’t even know what a palm pilot is.
   
   
3. The people you most expect will help, will disappoint you. Some, because you mistakenly got the impression they could, others because they are truly too busy to help. And those who do eventually might not even think/know they are helping you. All in all, never give up on anyone, and never write off anyone. I do not hold it against anyone who has refused to help too anyway. I always like to make excuses for people and continually give them the benefit of doubt.
   
   
4. Things don’t just happen, people make them happen. If you are waiting for a miracle around you without lifting a finger and making an effort, you might wait forever. If anyone ever changed the world, it was because they got off their couch/high seat, and got their hands dirty working their butt off. No matter how good your dream or idea, you must work hard to get it realised (and I must confess I am tired of hearing people tell me I have a great idea- if it wasn’t, I won’t leave Medicine for it, you know!).

And talking about leaving Medicine, I will share with you the full gist in my next article on why I decided I will eventually drop my stethoscope, before even passing my final year medical board examinations.

I remember a friend coming to ask me just before Pediatrics and Obstetrics/Gynaecology exam, he said "Siji, is it true you won't be practicing?" I didn't want to engage in an unprofitable discussion so I told him quickly, "It is a person who has got the license to practice because he passed his final exams that can talk about not practicing, not a medical student still in part 5."

See you soon.