Nigeria Property Centre is a leading property website in Nigeria that simplified the process of searching for property for rent and sale. Since established in 2011, Nnamdi has overseen the growth of the company which now has over 33,000 property listings on the website covering over 250 localities in Nigeria and attracting over 370,000 visits monthly (as at September 2017). In this presentation, Nnamdi discusses bootstrapping using Nigeria Property Centre as a case study.

1. Bootstrapping to Significance
The Nigeria Property Centre Journey

2. The Problem
Property
Seeker
Agent
finds knows
Agent
knows
Agent
has mandate
House hunting nightmares
Other
Agents
Other
Agents Other
Houses
Other
Houses

3. The Problem
Property
Seeker
get in car drive around To Let contact
Agent
view
House hunting nightmares

4. The Solution
Property
Seeker
Nigeria Property Centre
Agent
Agent
Agent

5. Some Stats
How we’re performing
Daily Visits
13,000 63,700
Added this YearAgents
8,500
250
Areas Covered

6. How did Nigeria Property Centre become
a leading property website in Nigeria
while bootstrapping?

7. Determine the right strategy for your
business considering the
resources at your disposal.
1. Know Your Capability Limits
…and plan around it

8. 1. Know Your Capability Limits (Examples)
…and plan around it
1 – 3 staff No contact phone line but excellent and quick chat/email
support
Self-service website (agents manage their own listings)
Automation, automation, automation
Subscription based rather than commission based
Limited marketing budget Target online users only

9. Focus on the real numbers that move the
needle…not vanity metrics.
2. Know Your Numbers
…the real ones, not vanity metrics

10. 2. Know Your Numbers (Examples)
…the real ones, not vanity metrics
Internet penetration
(91 million1)
Potential target audience on Facebook across
Nigeria (18 million2)
Number of visits Number of converted visits visitors
Number of agents Number of active agents
Note: Most of the figures on the stats slide are vanity metrics and provided to make a point on this slide.
1 https://www.vanguardngr.com/2017/07/internet-users-nigeria-hit-91-6m
2 Attempt creating a Facebook ad and select Nigeria as the only targeting option

11. 2. Know Your Numbers
…the real ones, not vanity metrics
• Manage your expectations
• Drive the roadmap for your product
• Use resources wisely
Knowing your numbers helps you:

12. Questions?

13. Nnamdi Chineme
nchineme@nigeriapropertycentre.com
@nchineme