Nigerian entrepreneur Mohammed Algoni has harped on the need for strategic planning and customer transparency as prerequisites to thrive in entrepreneurship.  

Algoni, in an interview with newsmen, shared insights into his business journey, which began after completing secondary school in 2017 as he started with a modest ₦10,000 that he used to open a small provisions store to assist his family financially.

According to Algoni, he conducted thorough market research before venturing into business.

From strategically choosing a variety of products to stock, buying in small quantities to maintaining a diverse range while controlling expenses, Algoni recalled how he stayed committed to his business objectives.

He said by 2018, his business experienced a significant turnover. 

“The expansion into Kano was a strategic choice, based on the region’s potential that matched my business model. This move was a deliberate effort to explore new markets and growth opportunities.”

Algoni while highlighting the importance of strategic planning and customer transparency in business, advised against large investments without market knowledge. 

“It is a common issue in Nigeria and Africa. Successful entrepreneurship involves creativity and market savvy, not just capital. Starting a business requires more than money; it requires a strategic vision,” Algoni said.