Khadijat Abdulkadir: Failing Forward - TSD17

The Generation Y SyndromeYou can learn some entrepreneurial skills, but the entrepreneurial attitude cannot be taught. ~Ludwick Marishane

Khadijat Abdulkadir

LOL ! THOSE LOOSERS!• Ever wonder why most fail stories are

told by older generations?• X=TRY IT or don’t DARE!• Y= #FAIL-Which really means looser. • We don’t like fails! But they are funny

on others.

• But what does X+Y=?

• Social media effect• My fail proof journey to funding

Raising my first $15 million

• Build an innovation lab- Become the most interactive interdisciplinary lab for entrepreneurs across Africa. Allow startups all over Africa to work on developing, testing and building successful ventures.

• House up to 300 Startups at any given time from 54 countries.

• 6 week venture incubation program- Launch lab and funding.

• The goal? Build the most innovative technology supported lab in Africa (Abuja, Nigeria)- Recruit only the best startups –Make sure they are investment worthy- get them started and funded- take equity-

• Simple Right?

The Challenge of Credibility-

We are too busy programming!

The biggest thing for a young entrepreneur to overcome is credibility. Why should someone invest in you? Why should someone trust your advice? What will make people think you will get the job done with no track record? Building credibility is best done with a stepping-stone approach.

Do one thing today that will make you more credible tomorrow. If people won't pay you or invest in you, give away your product or service for free, get testimonials from customers and build your track record that way. Show customers what value you can provide them, and if you can quantify that value, even better. The more things you can come to the table to brag about, the better.

Myth VS Reality WHAT WE THINK ABOUT GENERATION Y

1. They are fearless!

2. They are bold and innovative!

3. They are highly entrepreneurial! Debatable

4. The driving force behind the economy –

But this is all misleading! “Entrepreneurship among young people is actually relatively uncommon. Relatively few young people today own stock in a private company — and a good number of those who do likely aren’t entrepreneurs anyway, but rather work for companies who issue equity to their employees.”

(Wall street journal)

2.6 self employed millennial

7.6 generation X

8.3 baby boomers

65% drop in businesses < 30 since 1980

40% of millennials in the US cited fear of failing as a reason for not starting their

own venture

3 pillars of ENREPRENEURSHIP“A person who sets up a business or businesses, taking on financial and personal risks in the hope of profit”

BOLDDare to start

PLANNERPrepare to fail

RISK TAKERTake calculated risks

ENTREPRENEUR

IMPATIENCE

MISCALCULATED RISKS

RASH & IRRATIONAL

RISK AVERSION

UNDERDVELEOPED PLANOVERCONFIDENCE

CAN YOU HANDLE FALIURE?

UNFOCUSED

• PREPARE FOR FAILURE WHILE AIMING FOR SUCCESS!!

SUCESS

• Success is NOT about never failing!

• It IS about thinking and learning!

Confidence! IMPOSSIBILITY!

• Success is NOT about brilliant strategies or bullet proof businesses!

• It IS about exploration and direction setting!

• Success is NOT about marketing and taglines! (Followers on social media)

• It IS about patience, perseverance and continuous innovation!

• STAY DEDICATED TO YOUR OUTCOME!

Keep in touch!

@K_hadi8

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