Ebahi Ruth, founder of Bhyldr Limited, is seeking to revolutionize the building materials industry with her business. But gaping loopholes and a lack of technical know-how spells doom for her nascent company.
The software developer is failing the lady. He is neither deeply technical nor concerned with the business aspect. He is a yes-man, not the type you want when you are starting out a company that is yet to get a PMF. In the early days, you need someone that can give positive criticism, not someone that pleases you. He isn't seriously invested in his work. The ideal technical co-founder/early employee must be someone who knows his art like the back of his hands, he also must be someone that is concerned with the business aspects. He also must be the inside critique, not a yes-man. From the clip, if the guy isn't benefitting from equity or from a salary, it wouldn't be so wild/farfetched to think that he is 'simping' for the lady. Probably the reason why the Lions smirked on hearing that he is building without any financial benefit. It happens but rarely ends well. I mean, unless he is an intern(seeking experience over income), nobody builds for vibes and inshallah.
Same thing that came to mind, I suspected that it has to be a case of simping because lets be honest with ourselves, no developer that knows his craft builds "just for the vision".
We youngings usually think business is all about dreams and nothing else. However, we get hit with reality immediately we push for our dreams and we realise we aren't prepared.
I think dreaming should be the first step before taking action which I see they took, but these actions should be guided which the idea lacks. These youngings tried.
Some businesses don’t need to raise money outrightly, they actually need research , due diligence, practicality and hands on approach so that when you hit the growth curve and mechanisms are already in place, then you can try investors
You're right. They haven't even gone far ,let alone seeking for investment. More research is needed , know the market size, change of business model and so on.
For me, the software developer added more salt to the injury. One, you don't do any skill or business for fun. All are done for the exchange of value: money. Secondly, how do you claim to be a developer and you don't know your user journey, how does it sound? Funny! Meaning he doesn't have any use case and template in place. Just vibes and insha'Allah. Three, what specifically do they need the 5million for, promotion, branding, adverts or App development, they need to be specific. Personally, she can bootstrap that company to a reasonable extent before bringing in investors on board when she wants to go public. The girl has a sound idea, and got the best advice form Mr. Paul. In her next pitch she would have taken into cognizance the whole corrections and get something better for her brand. Sometime next year, I will on this stage to pitch my company. Gonna be a fun filled day cos broh...I will prepare hard for their questions. I have the best mentor at the moment.
Sincerely as much as I don't like Paul not usually inclined to invest, I always look forward to his comments.... Very insightful business man. Bolaji and Dan are my best investors....
I think she just got free lectures on her dream project. She needs to get more knowledge on what she is trying to do as well, put them together, build her confidence and develop a wonderful pitch... I believe she will do better 💪, cheers 🥂
Most times investment is not about giving money. If this team is smart, they will understand that the lions have reshaped their idea for free and these are reasons we hire business developers As an Entrepreneur you need to know your business not just about what you do Know who are you competitors, your UVP and MVP You should be able to also summarise your business in a blink
The girl wan cry, she's been very defensive because she thinks she has a great idea which she does but she has not counted the cost! She herself needs to make a lot of improvements in herself as a potential CEO. An idea can be so exciting, it's the skill of a good entrepreneur to get the idea to be actually valuable and needful.
There's a light somewhere in her idea. She has just not been able to make it spark. However, if she goes back to the drawing table and makes the necessary adjustments, it might really fly. The investors were spot on with their advice.
I’m afraid to say there’s no light anywhere - she thinks this is University project you submit to your lecturer and they award you an A for a project - where in this case, A seems to be 5million naira. Education in Nigerian higher institutions needs a complete overhaul. - no feasibility studies, no actual data, no timeline, no interaction with sellers of the raw materials, no legal framework, no contract, no logistical analysis, absolutely nothing - and both of them are throwing words and grammar feeling good. I’m shocked the Lions didn’t call it BS
@@done5060 you missed the part where I talked about going back to the drawing table and making necessary adjustments.That is what makes a product spark. But you can just conclude there's no light at all in the idea.
It's no software developers fault...the guy him self said he is a software developer...the issue here is that he only knows how to code but don't understand the bussiness aspect of software development
She has a great idea. Has taken some steps towards actualizing it. But there is still a lot more work that needs to be done. Sweat equity. For the "software developer", I have no words. Atleast he followed her to the Lions den
The best approach should be that they should just connect buyers and sellers together, removing inventories and whatnot from their head and get a certain percentage from every seller who sells there product in there platform Basically needs restricting
Let's be honest. The guy at best is a website designer. Most developer know what MVP is, unless you have not developed an app especially one with a commercial outlook
Abeg let my people Go! they will figure it out themselves. If there is a free business school for young minds like these ones I bet they will embrace it. As an investor you do your best to save your money but I love your pointer, but Nigeria have nothing for the youths, so what you hear from these folks is exactly the return of what they have learnt themselves or from school. Government should provide a good support for the ambitious and self motivated Nigerian.
This programme shows how terrible our education system is. Young people in Nigeria are doomed. They can't compete with their peers abroad, even though they're highly intelligent. The education system simply doesn't give them the tools of expression, or use of common sense. It is saddening, because all the good ideas they bring here, which don't get funded, will get poached by foreigners and the audience in general. This is very alarming
@Rosaninyei You're quite spot on with your observations and identifying a very real problem. Young Nigerians are very enterprising set of people. It's just unfortunate that the education system hasn't played the role it's meant to. So what do you proffer as the solution? For the poaching of ideas part; that will always be a given. People steal other people's ideas because no idea is actually new. However, what counts for anyone with an original idea is how well you understand the problem you're trying to solve and ensuring that the way you go about solving it is the best approach.
Yes, I understand the Nigerian education system is terrible but don't blame it on it, if you watch corresponding programs elsewhere in the world, you'll realise that the problem are the same everywhere. Starting a business requires more than just school education. Ideas are not that easy to pitch to investors because they can easily spot the flaws which the person can't spot. And I like the investors here because they don't condemn, they only help by guiding them. So starting a business is not about education system to me, it's about oneself.
@@jaewiebowatz6379 let me help you understand what good education is. It exposes you to ideas. It makes you process information in a critical manner. To make deductions, etc. Good exposure and education would help you understand, that you cant come to ask investors for money with an IT guy who says hes doing it "for fun". Once that business starts making money, he can sue and win. That's part of why they turned her down. She doesn't understand how to present her business and the risk involved in not having clear cut ownership structure. This is only 1 of the many flaws the "graduates" who come on here present.
I just like the way Adenike doesn't always crash their dreams even if she isn't investing. Shocks me that a 'Software Developer' doesn't know what am MVP is 👀 Paul's advice towards the end is what will surely help her kick-start well - start with selected materials first and expand when you gain a strong ground on those. The lady in my opinion cannot define the bridge btw a passion and a business. Imagine having someone who isn't your business partner work with you at such an early stage without a strong legal document on ground. Even me as a freelancer, I dey sign NDA tire 🙄
If you are watching this: and you register for a Web training class - for x number of weeks (where X is between 4 to 12weeks) - *YOU ARE NOT A SOFTWARE DEVELOPER NEITHER ARE YOU A SOFTWARE ENGINEER* You are just a mere Web designer - not even a Web developer.
I hope she gets the point because her post-pitch interview is all about "i am used to this..." thats not the point. the lions already gave a a new blueprint perspective. Dont be the middle man, just connect end to end.
She got emotional with their constructive criticism. Looks like she’s convinced the idea being great is all that matters. Hope she gets the point, as you said.
Damn!!! This might be embarrassing, but it really doesn't mean Jack. He doesn't know what the term means, simple. He is human, he doesn't know everything. As a developer for 5 years now, I got to learn what Vanilla means this year and I have built really great products. I have also successfully pitched for a couple hundred thousand dollars, I have written business plans, etc. But truly, they seem to not have the ability to communicate their plans and thoughts to the investors very well.
It’s not about knowing everything, it’s about knowing the basics. You can’t call yourself a software developer if you don’t know what mvp or user journey is, those are the basic information that you should know when building softwares and applications and as a developer for 5 years you should know what vanilla programming is, it’s just the plain language no framework or bs. Please this are something you should know. The basics.
@@kennyakins3536 and why is vanilla programming important? what is the essence of libraries? should i learn definition or have the experience? how many CS graduate know the meaning of common syntax error? software devs these days are self taught if they don't know definitions or terms just tell them then will show you in practical what you know theoretically
@@davidosimiri7344 Vanilla programming is important because it teaches you the basics, the fundamentals. The essence libraries is that it saves you time and reduces repetitive task such as writing the same code over and over. You should learn the definition and also have the experience. Most CS graduate don’t known common syntax error because computer science is about theory and not coding. Both self taught and CS graduate need to understand the theory and practical of programming.
I like that he didn't pretend to know what MVP is. MVP = minimum viable product i.e. at a basic level, what does your product design look like to function?
To think that he first said he had built the UI, "user"(i don't know what that is) and is currently building the database(really? 🤣) tells he is just a newbie learning "web design". Then goes ahead to say its just remaining to put the "website online". Later said it will take 2 months to build the MVP. Really laughable.
Honestly I feel like she hasn’t done proper research on this business. I mean it’s a good idea but then again her SWOT analysis wasn’t in place . She needs to do proper research before building an app or using a non experienced app developer.
Beautiful business idea from Ruth! Great businesses are born from connecting different puzzles that fits. Sadly she needs to get a co-founder with like passion that properly understands the depths of construction industry business or better still gets DEEP in research for her idea for it to see the light of the day!
MVP is more of a business term than it really is an IT term but if you have been building software for a while you should have at least come across that term before.
Investors want validation simple to say but difficult to achieve. They need to be sure they are getting a ROI. So when your coming for a show like this do proper research and get enough data to tackle their questions.
Great idea. However, she need to do more research and know the size of the market . There's a startup already in the space if their business (CINDERBUILD).exactly what's they're doing is what cinderbuild does and they've partnered with top companies into building materials ...
I can see so many experts from behind their screen and keyboards running their mouths here. It takes a lot of gut to pitch a business to any investor. Have you all done that?
I understand what an MVP is even though I'm not a tech guy. And that's because I've read several books that talk about business. I think the lady needs to rethink the model just as the Lions have said. To me, it's not as complicated as she's making it to be. It's just like the Uber model. Her company will be the intermediary between the vendor and the customer. All she has to do is link them together and charge a small percentage of the sale. And boom, she makes money. It's a common concept that she's applying to a new industry.
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And here I was thinking MVP meant “most valuable player”🤣🤣 . This is why I’m not in IT. There was so much knowledge in this video, I hope they rewatch it and implement some of it into their business.
@@OsundareToheeb I beg to differ. The term MVP is one that every serious developer/engineer is very familiar with. It is arguably the most important term in the product development cycle.
This idea needs a lot of work and research. Plus the software developer dey do gara gara and he isn’t sound. I feel the lady needs to work on her presentation skills and get a better co-founder. This software guy just dey tire me.
I have reasons to believe that the young lady is not very exposed. She didn't sound exposed to Business in general, not exposed to Business People, not exposed to Large Sum of money. Otherwise, she won't ask for as low as 5m in return for as much as 20%. All she walked into that room with was an idea, a spark of passion and a friend who has a laptop. The tech guy is mostly a Google and RU-vid student. He's follow step by step tutorials but do not understand any business aspect of his skill. All the same, they've gathered some new experiences that can help them both grow... Good Luck to Them.
I know Paul is always out but as soon as he started the talk about the middle man I was in full agreement, think of how expensive everything is, and so much of it is due to middle men.
She doesn't need money to get started with this business yet. Bootstrapping would take them far. It's not easy though, but there's a lot of rooms to improve this business.
She’s thinking of building the Jumia and Amazon of construction materials, this is not possible with the kind of knowledge and expertise they have. It won’t be able to work. Building a business is a big deal and requires a lot of effort, expertise and time.
Who is that software developer...Lordddd There is an idea in this business...I see a perfect business model here, they need to think a little deeper and fine-tune...I hope they get to see it soon.
The way I see these two, they don't seem to have ADEQUATE KNOWHOW on how they'll deliver the PROJECT at the END Of the day! And the way I see how she's STRUGGLING, she seems to be a NEWBIE & a NOVICE in an INDUSTRY that should come of AGE as far as WORLD-CLASS & STANDARD is concerned! They both need to go back to the DRAWING BOARD and remodel their PLANS & STRATEGIES or step away from a 21st Century Construction Industry, which should be competing in PARALLEL LINES with GLOBAL GIANTS, without being blown away by the HIGH-LEVEL COMPLEXITY & TECHNICALITY!
I understand Paul. He "sees" the problem the idea will solve if well thought out. He wants to help out but as a businessman and investor he just can't put his money in it...
The idea should have been to validate sellers and buyers. While they serve as gateway. A B2B or B2C platform. They lack proper understanding of what they are presenting.
This people are so naive....building a profitable business is a lot more than just taking an intuitive decision. Yes, the idea is there but it is unrefined. First, you have a business model that is highly risky and creating a problem rather than solving one. Second, you have a supposed software developer who is neither an equity owner nor getting paid. Lastly, there's absolutely no revenue. So where is the #25M valuation coming from when no tangible intellectual property has been created yet
Did they come there …i mean two months into the business…is the registration process even complete, two months….she is speaking from the heart not mind…business is mind first then heart…
if they want to make money with this, the truth is they have to sell construction materials themselves using the app and website. it'll be easier for their customers to reach them, and they'll be operating on good margins with very little staff, delivery riders and hassle like before. the app and website will make them stand out from other normal hardware stores. but linking vendors, you'll be another uber burning investors money
She feels she want to solve a problem but she wants to create a problem for herself. I think they needed to start with something no matter how little and be better prepared next time
