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Flutterwave – The Fast, The Furious, and everything in between MUSINGS FROM OUR CEO. Resilence Precision Teamwork = Barter Reloaded !

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post sponsored by dotifi.com  we flutter too !


dotifi !

One of my favourite sports of all time is car racing, Formula 1 to be precise, and I love it for many reasons, most important of all being the level of discipline, dedication and resilience. So I will share 3 lessons I’ve learned as a Formula 1 fan and Tech founder:

1. Resilience

One of the many things you learn as a startup founder is that you need an extra helping of resilience to keep pushing ahead. I say it often that running a company is extremely unsexy – there’s glitz, glam and then there’s the amount of work you need to put in, in addition to keeping your team motivated enough to give you their best work.

Formula 1 drivers get run off the road so many times, and they get back in the race and keep going, because the only way you can get to the finish line is if you keep going.

2. Precision

The next few sentences are technical but stay with me, they are important for the point I will eventually make.

In F1, a 0.05-second advantage over the field could equate to a 3-second lead at the end of the race which means every effort counts. This was what led to a breakthrough that has made a difference in a lot of races. In 2009, A kinetic energy recovery system (KERS) was introduced to F1. The KERS is an automotive system for recovering a moving vehicle’s kinetic energy under braking. The recovered energy is stored in a reservoir (for example a flywheel or high voltage batteries) for later use under acceleration. So basically, the car recovers and stores some of its energy under braking such that a maximum power boost of 60 kW (81.6 PS, 80.4 HP) for 6.67 seconds could be available for the driver’s use. The first time that KERS contributed directly to a race victory was Kimi Räikkönen’s Belgian Grand Prix in his KERS equipped Ferrari. “Actually, I was quicker than Kimi. He only took me because of KERS at the beginning,” second-placed Giancarlo Fisichella claimed after the race.

That level of precision, and the huge impact that something that seems relatively minor like a 0.05-second advantage is what makes all the difference in business.

Many times people think it’s always a grand gesture or huge move by a business, most times it’s not. Most times it’s the way the staff in your company relate to a customer that makes the difference, or how you address a customer’s complaints.

3. Teamwork makes the dream work

Every pit stop at a race requires at least 20 people to perform to the best of their ability to change tyres, modify the suspension and do everything that needs to be done to ensure that the driver can complete the race to the best of the ability. They know that if one person wins, they all win. It goes without saying how important this is within a company, your team has to value a culture of togetherness to see great results. I would add a few more cliche quotes on the importance of teamwork but you are probably tired of hearing them.

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Speaking of teamwork, here are some updates on the amazing team at Flutterwave:
Barter premium

We launched Barter Premium !

At this point you know that we have tweaked Barter quite a few times – we have upgraded the UI, made it faster, introduced some key features, discontinued some – you get the picture. We have done a lot of work on it, the team has worked tirelessly to get to this point of offering the amazing experience of Barter in two forms – Classic and Premium.

Read more on the updates we made here.

Bringing Joy to Eko” - Krispy Kreme
In our experience as a payments solution company, we are constantly trying to figure out ways to make the user experience easier, quicker and more seamless. This is why we introduced our version of Pay with Bank Transfer in Nigeria. You can call it ‘Pay with Bank Transfer, But BETTER’ (we certainly have). How does it work?

If paying via bank transfer is your preferred means of payment (as it is for many Nigerians) – every time you try to make a payment on a Rave merchant’s platform, you have the option of paying via bank transfer to a dynamic bank account number – the whole process takes about 3 minutes and the merchant will be able to confirm the payment immediately because it’s seamlessly integrated into their Rave dashboard. I am particularly proud of the team for this innovation – we considered the needs of our customers and merchants, and found a way to make the solution work for both.

Read more here.

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Now to my favourite section of my newsletter – a chance to show off an amazing member of my team and our wonderful merchants;
Hygeia HMO Interview
This merchant is very special, the CEO was my boss, but more importantly he has shown how Flutterwave has been pivotal to their growth in the Health Sector. We have known each other for years, we bonded because we are both passionate about making life easier for Nigerians and Africans as a whole – it made sense for us to help Hygeia reach their goal of providing affordable healthcare insurance to people, and enabling them to make payments in instalments.

Watch the Hygeia Business Story here.

Hygeia HMO Interview
If I were to describe Nemi in three words I’d say she is persistent, adaptable and meticulous – and those are only some of the amazing qualities she brings to the product design team. She brings her genius to work on web experiences for our users.

Watch Nemi Banigo’s Inside Flutterwave episode here.

P.S.My next newsletter will contain behind-the-scenes details on how we snagged AntFinancial as a partner and integrated Alipay into Flutterwave.

Stay amazing!

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