Showroom.ng, Nigeria’s premier online showroom for furniture and interior decor, will be putting up a sign that reads “Out of Business” at the entrance of its “door” at the end of the month.
Launched in February of 2015, Showroom.ng’s mission was to furnish Nigerian homes and make millionaires of 100,000 carpenters by 2020.
The startup was sure on its way to achieving this. Just a few days after launch – three days precisely – it received its first order. From then on, orders kept coming in.
In six months, the startup had experienced massive growth, which was a sign – or in business-speak, validation – that the whole idea was working.
He added, “We have moved way faster than we expected, in terms of revenue. What that really tells me is that there is an opportunity here and we need to double down on the potential, so that we can reach more customers as fast as possible.”
The startup continued to experience growth. It got more and more customers – it even furnished Hotels.ng’s office – which of course translated into more money in the bank.
The height of the startup’s growth was when it secured seed funding late last year from local investors to further fuel its growth and handle the pressures of increased demand.
Despite all the successes recorded, the startup will be closing up shop at the end of the month as a result of various insurmountable challenges.
In a Medium post announcing the shocking development, Sheriff fingered wrong execution as a major reason for the shutdown.
“I really felt I could succeed, I have read the right books, the right blogs, draft right business plan and but in execution I have fallen short. Maybe it’s time to change things a little, something is quite wrong I think,” he said.
Other reasons were personal and…..errrrrrmmm touching.
“The height of it was last year end, business was doing fairly well then everything started crashing. Somehow I survived the robbery at gun point in the middle and rally round to try to make things work, but getting worse and every now and then the thought will always come around, what if it all ends here? What if I just have an accident right now (while driving home at 11pm on third mainland bridge)? Maybe it was law of attraction but somehow I had an accident but in the daytime when I didn’t think about it.”
On his next move, Sheriff was rather skeptical. One thing is sure though: He’ll still be in the tech space, because according to him, tech is the only family he knows.