In the early days of business, excitement often leads to costly mistakes. One of the biggest is opening too many branches before you’ve even validated your model.
I made that mistake myself. In the first year, we were in Anambra and Ireland, already planning Asaba and Abuja. By the second year, I realized none of it could work. We had to shut down, rethink, and rebuild our model.
The lesson? At the startup stage, you are still searching. You’re not yet a company. If you expand before proving your model, your fall will be celebrated, because it will be that dramatic.
Build strong roots before you spread branches.
Dr. Smith Ezenagu is the Chairman of Esso Group, a diversified conglomerate shaping real estate, finance, education, and media. Dr. Smith Ezenagu is recognized as a real estate & investment mogul, life coach, and private equity expert. He leads Esso Group and its subsidiaries: Esso Properties (awarded Nigeria’s Most Innovative Real Estate Company in 2024 and recognized as the best real estate company in Nigeria), Esso School of Enterprise (the leading institution equipping entrepreneurs), and Esso Capital (delivering smart, trusted financial solutions across Nigeria).
