Connecting and Growing Together: Insights from Founders Meetup Community
Written by Nice Charles Msangi
Since July 2022, Sahara Ventures has hosted 7 Founders meetup sessions.
Founders Meetups are sessions hosted every last Friday of the month in which entrepreneurs from various industries and stages of development gather to network, share their ideas and experiences, and learn from one another.
The main goal of the Founders Meetup is to create a supportive community of founders and entrepreneurs who can share their ideas, stories, experiences, challenges, and successes. This community provides opportunities and spaces where valuable insights and advice are shared to help founders to navigate the complex world of entrepreneurship.
The Founders community is growing significantly. The Founders meetup has hosted 200+ founders and entrepreneurs, including early-stage startup founders and more established entrepreneurs with successful companies.
Some prominent individuals who have led the discussion shared their knowledge and experience and facilitated the conversation, including; Hazem Affify, the Founder of Sumet. Brian Paul, the Co-Founder and Technical Lead of 19 Studio Ltd, Adam Duma, the Co-founder of Silabu, the social learning app; Tony Missokia, Co-founder of Laina Finance; Agness Mollel, Co-founder of Mipango Fintech; and Iddy John, Founder of Safari Wallet. They offered insights into what they believe it takes to build a successful company.
Lessons from the seven meetups;
Founders share common problems.
Listening to founders relieving their frustration, you see they have similar problems, making it easier for the other founders to realize that it is not only them. Others have experienced similar issues.
Through sharing, you realize how much they need each other to grow, the importance of such a community, and its usefulness.
“I remember when I was just starting out, and I would have loved to have had the opportunity to talk to someone who had been through it all before,” said Founder.
Focus on solving a real problem.
“Think like a startup. Act Traditional.” Hazem Afify.
Due to several reasons, such as cultural complexities in Tanzania, localization ideas still need to be improved for most startups. However, most startups focus more on the technical side of the business and need to remember to build with the user experience. By solving genuine problems, founders can create a company with real value and potential for growth.
Embrace failure
Many founders shared stories of their failures and setbacks and emphasized embracing failure as a learning opportunity. By taking risks and learning from mistakes, founders can build resilience and develop the skills they need to succeed in the long term.
Navigating Tanzania’s Evolving and Developing Regulatory Environment
The regulatory environment in Tanzania is still evolving and developing, and there needs to be more clarity around regulations and procedures for startups. This can make it difficult for entrepreneurs to navigate the legal requirements, resulting in delays and additional costs.
“Business founders have to work alongside regulators because without doing that, there won’t be right rules and regulations set for startups.” Brian Paul
Building a strong team
“If you are a non-tech business founder, make sure you have a tech co-founder,” Adam Duma
Most founders highlighted their co-founders and early team members’ role in their success. They emphasized the need to surround oneself with talented and committed individuals who share a common vision and seek team members with the talent you lack but need in your business.
Understand the investment landscape in Tanzania.
Founders need to understand the investment landscape in Tanzania. It requires understanding the challenges and opportunities and being updated frequently since the investment landscape for startups in Tanzania is still developing.
Be data-driven
Founders highlighted the importance of using data to guide decision-making and measure progress. By tracking key metrics and analyzing customer feedback, founders can make informed decisions and align their operations with the changing demands.
The Founders Meetups initiative proliferates and provides valuable opportunities for experienced and emerging entrepreneurs to connect, learn, and grow together. With plans to host more future meetups, Sahara Ventures is committed to supporting the startup community and helping entrepreneurs achieve their goals.
