Oyindolapo Olusesi is a technology lawyer and the founder of Mustarred Crest – a company providing legal solutions to complex technology issues.
Mustarred, an initiative of Olusesi, is a full-service advisory firm for technology startups in Africa that provides startups with best-in-class strategies to build and grow successful businesses.
Due to his desire to address some of the many challenges that start-ups face, Olusesi was inspired to create Mustarred Crest.
“I had a lot of non-programmers, like law graduates, finance and business administration students, who were looking to move into relatively new areas like fintech and were finding it a bit difficult to decide what to do and how. go about it, Mustared Crest decided to fill those gaps,” he explains.
Also, he notes that his conversation with a friend who is a brand expert who was unknowingly tinkering with the same idea back then inspired the company.
Responding to the question how much capital was used to set up the business, the young entrepreneur says he started the business with 20,000 naira – an amount spent on registration.
“We also tried to recruit people based on available clients, this helped us to ensure that we were not going to dip too much into personal funds and to assure staff of their salaries as they went along,” notes Olusesi.
He notes that his company’s ability to support young startups to get started and its flexible pricing system along with a good understanding of the market has sustained his business.
“Also, we’re in business to make money, but we’re also very interested in seeing our customers succeed first. What we do is that we assess each client on a case-by-case basis so that we can take into account the particularity of each,” he explains.
Responding to questions about why most startups fail over the next five years despite the cover, he attributes the high failure rates among startups to the country’s hostile regulatory landscape, explaining that it suffocates most of the time. innovation, many early companies failing properly for requirements.
He adds that many start-ups have failed to get started and understand the market in which their businesses operate.
“There are a lot of premature increases in the market, a lot of these startups failed to get started and understand the market, some of them couldn’t even determine their product-market fit and didn’t have no defined market share,” he said. said.
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He also notes that the dated education system, primitive judicial system and lack of progressive politics are also major challenges responsible for the high failure rate in the landscape.
On major challenges limiting entrepreneurship, he notes that the country’s huge infrastructure deficit remains a big problem for the ecosystem.
Regarding the business expansion plan, he states that Mustarred Crest intends to focus more on its training arm of the business in the near term.
Having realized that many companies need training and this is something our company plans to help them with, he explains.
“We will soon begin to roll out training for companies wishing to develop their staff,” he adds.
In the long term, he says, the company plans to create a venture capital network to help its clients secure seed funding.