02. The Startup Bakery - Tomiwa Adey
Play episode · 43 min

TOMIWA ADEY, FOUNDER — START-UP BAKERY

Tomiwa Adey is a young tech entrepreneur who has founded several start-ups, learning a lot from his successes and failures. He grew up in Nigeria where he often had to hustle just to feed himself which in hidsight now leads to some amazing stories to tell.

He offers a humorous insight into the trials and tribulations of being a tech entrepreneur and how to develop a positive mindset in the face of any situation.


SAM’S TAKE HOME TIPS

Tip 1 — Do things crazy things that scare you

Whether it’s doing crazy projects to get yourself noticed or taking leaps out of your comfort zone, always keep things a little insane. It will help lead to a more varied life that you can look back on with rich memories of contrasting moments. Basically, you’re life will be a series of events that stand-out rather than a blur of monotony. You’ll have more stories to tell the grandkids and it will force you to keep learning and improving in ways you can’t even imagine.

Tip 2 — Do something you’re passionate about

If you want people to recognise what you’re doing or help you will be much more successful if you can demonstrate clear passion for what you’re doing and show the fact you will go the extra mile you’re much more likely to open more doors for yourself and

Tip 3 — The power of a network

A great lesson for tech entrepreneurs out there. sitting indoors building your project and perfecting things is great but you’ll never be a success unless you go outside and talk to people. Growing a network you can leverage its just as an important skill as being able to code if you want to be a successful entrepreneur.

Tommy teaching me how to use a computer

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TOMMY’S FAVOURITE BOOKS

We didn’t even get onto books during the episode. But fortunately, Tommy already has a list of his favourite books with his own short summary of why you should read it.

Get any of the books free on audible

Traction — Gabriel Weinberg and Justin Mares

The key message in this book: Even great products don’t sell themselves. A start-up stands or falls on the customer base it can build. This is why you need to think about traction early and often and build your company’s goals around achieving that traction.

4 Hour Work Week — Timothy Ferriss

Instead of living the 9–5 life of a desk slave, join the New Rich, create an automated income and enjoy a full life here and now.

22 immutable laws of Marketing — Al Ries & Jack Trout

While having the cash to invest in marketing strategies is important, it’s far more essential to understand the rules by which companies play. Successful marketing deals in perceptions — not products — so follow the laws of marketing to help you craft a strategy that will win every time.

Venture Deals — Brad Feld and Jason Medelson

If you want to secure funding for your start-up, then you’ll need to know what your options are and how to make the most of them. When it comes to raising venture capital, that means understanding the interests of investors and assembling the right team to support you at the negotiating table.

Start With Why — Simon Sinek

Businesses, individuals and movements of all kinds should always start with WHY — their reason for doing something. This WHY should be the basis for every decision its leaders make and every message they transmit. By doing so, they will attract loyal supporters and garner long-term success.

Think and Grow Rich — Napoleon Hill

Wealth — in whatever form — is seldom the result of luck or coincidence. Far from that, it’s almost always the result of different traits and skills that anyone can learn and acquire.

Mindset — Carol S. Dweck

People with a fixed mindset obstruct their own development through their belief in innate talent and their fear of failure. On the contrary, people with a growth mindset work hard and train hard to ultimately realize their potential to the fullest. By confronting our own attitudes and ideas, we can develop a growth mindset.

The Art of Learning — Josh Waitzkin

Anybody can achieve superior performance with the right mindset, perseverance, dedication and strategy. Using performance psychology methods, you can learn to manage your ability to focus and relax, switching between them as needed.

Predictable Revenue — Aaron Ross and Marylou Tyler

Today’s world requires a new approach to sales. Salespeople must truly understand lead generation, from the different types of leads to the most effective approaches for generating them. With a specialized team that ensures every step of a sale is performed to a high calibre, and an organization that is committed to best practices, you can expect powerful and reliable revenue.

The Everything Store — Jeff Bezos

The main message of this book: Strong customer orientation, long-term thinking and the drive to evolve and improve are the qualities that make Amazon what it is. The company’s unequalled success can undoubtedly be traced back to the way of thinking promoted by its founder, Jeff Bezos. He stands out in particular for his willingness to take risks and try new things, as well as for his future-oriented thinking, which is also exemplified by his other projects, such as a private space program and a 10,000-year clock.

Positioning: The Battle for your Mind — Al Ries & Jack Trout

In order to successfully market a product, you have to have a good product name, avoid marketing traps and utilize your competitors. If you can’t be the first in the market, you must use your own positive qualities and specialities to find a niche for your product rather than being a “me-too” product.

Jab, Jab, Jab, Right Hook — Gary Vaynerchuck

As more and more of our lives take place online, it is essential for businesses to use social media campaigns. So figure out what platforms are best for your brand, and tailor your marketing to them. Remember there’s no “one size fits all” for social media marketing, and don’t be afraid of new platforms like Pinterest. Any business can find success when it gets social media right.

The Little Prince — Antoine De Saint-Exupery

Tommy’s favourite piece of fiction of all time. An absolute classic you must read.

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Special Guest: Tomiwa Adey.

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