Starting a business is one thing. Building one that lasts is another. That was the central message at the latest edition of the UBA Business Series, themed “Building for Africa’s Realities: Turning Consumer Feedback into Technology-Driven Solutions.” The event brought together entrepreneurs, innovators, and business leaders to discuss what it truly takes to build businesses that solve real problems across the continent.
Hosted by UBA, the session featured insights from Ashim Egunjobi, Founder and CEO of Octerra Capital; Femi Aluko, CEO of Chowdeck; and award-winning rapper and entrepreneur M.I Abaga, founder of Tasck. Drawing from their entrepreneurial journeys, the speakers explored how startups can create products that resonate with customers, adapt to changing market needs, and build sustainable businesses.
Whether you’re launching a fintech startup, building an e-commerce platform, or developing the next game-changing app, here are five practical lessons from the conversation.
1. Find a Gap and Fill It
The most successful startups don’t begin with a product. They begin with an unmet need. Before writing a single line of code or designing an app, ask yourself: What problem exists that no one is solving well? The biggest opportunities often lie in the gaps that others overlook.
Many of today’s most successful African startups were born out of founders noticing inefficiencies in payments, logistics, healthcare, education, or access to financial services. Instead of creating another version of an existing product, they built solutions that addressed genuine market needs.
If people don’t need what you’re building, even the most sophisticated technology won’t make it successful.
2. Solve Problems, Not Just Build Products
Technology is a tool, not the destination. Customers don’t buy apps. They buy convenience. They don’t pay for software. They pay for solutions.
The best founders focus less on features and more on outcomes. Every product decision should answer one question:
“How does this make life easier for the customer?”
When your business consistently solves a meaningful problem, customers become your strongest advocates. They return, recommend your solution, and help your business grow organically. Purpose-driven innovation almost always outlasts trend-driven innovation.
3. Let Market Research Shape Your Decisions
Passion is important, but data is indispensable. One of the strongest messages from the Business Series was the importance of conducting deep market research before investing time and resources into a new idea.
Understanding your market means knowing:
- Who your ideal customers are.
- What challenges they face daily.
- How they currently solve those challenges.
- Where existing solutions fall short.
- What customers are willing to pay for.
Research helps founders validate ideas before making expensive mistakes. It also uncovers opportunities competitors may have missed. Successful startups don’t build based on assumptions. They build based on insight.
4. Build a Strong Feedback Loop
Launching your product is only the beginning. The real learning starts when customers begin using it.
Every review, complaint, suggestion, and compliment provides valuable insight into how your product can improve. Businesses that actively collect and act on customer feedback are better positioned to refine their offerings and respond to changing customer expectations.
Make feedback part of your business culture by:
- Encouraging customers to share their experiences.
- Monitoring user behaviour and engagement.
- Responding quickly to recurring issues.
- Continuously improving your product based on customer insights.
The businesses that listen are often the businesses that lead.
5. Stay Flexible and Keep Innovating
Markets evolve. Customer needs change. Technology advances rapidly. What works today may not work tomorrow. The startups that thrive are those that remain adaptable, embrace change, and continuously improve their products and processes. Innovation isn’t something you do once. It’s a mindset that drives every stage of growth.
Being flexible also means being willing to pivot when necessary. Sometimes the biggest breakthrough comes from recognising that your original idea isn’t the final destination.
Growth belongs to founders who are willing to learn, adjust, and evolve.
Turning Insight into Impact
Africa’s startup ecosystem continues to grow rapidly, creating exciting opportunities for entrepreneurs willing to solve meaningful problems. But as the UBA Business Series demonstrated, sustainable growth doesn’t come from technology alone. It comes from understanding customers, validating ideas, embracing feedback, and building solutions that reflect the realities of the markets they serve.
Through initiatives like the UBA Business Series, UBA continues to provide a platform where entrepreneurs can learn directly from founders and business leaders who have successfully built and scaled innovative businesses across Africa. For aspiring founders and established entrepreneurs alike, these conversations offer practical lessons that can help transform great ideas into businesses that create lasting value.
