Why This Question Is Already a Red Flag
Anytime someone asks me this question, I instantly know they are not ready for business. And more often than not, even if they put the money in, they won’t succeed — not because ₦1m isn’t enough, but because of the mindset the question is coming from.
That mindset reduces business to a capital decision rather than a value-creation process. It assumes that once a certain amount of money is committed, the rest of the work should somehow resolve itself.
When Money Becomes the Starting Point
In many cases, what’s really happening is this: the person is hoping money will create value, instead of value being the thing that eventually attracts money. Capital is being treated as the starting point, when in reality it is meant to support something that already makes sense.
This is why you often see people spend heavily on setting up a business — renting shops, furnishing spaces, branding everything — when they don’t even know whether they have customers yet. The business looks ready on the outside, but the core question of value has not been answered. Money gets spent, but nothing meaningful has been tested.
But business does not work that way.
What Business Is Actually About
Money is simply a store of value. Business itself is an exchange of value. That means the true starting point is not money, but value.
Value, simply put, is the benefit someone receives — the thing that solves a problem, satisfies a need, or makes life easier in some way.
So the real question is not “What can I do with ₦1m?”
The real question is “What value can I offer in the marketplace that people are willing to pay for?”
Why Value Changes Everything
Once value is clear, everything else becomes easier to work out. You can determine what is actually required to deliver that value. You can decide what must exist on day one and what can wait. You can start lean instead of rushing into heavy setup.
And if you eventually need more capital, it becomes much easier to raise because you can clearly articulate the value you are creating — which is exactly what investors, partners, and even customers care about.
Better Questions to Start With
When you focus on value first, very different questions begin to matter:
- What problem am I solving?
- Who feels this problem strongly enough to pay for a solution?
- Why would they choose me over alternatives?
- How can I test this idea with minimal risk?
These questions shape the business long before capital becomes relevant.
Where Money Really Fits In
When value is clear, money finds its place — whether that means starting small, reinvesting revenue, or raising more capital later. At that point, funding is no longer guesswork, because the value already exists.
Final Word
The problem is rarely the amount of money. It is the mindset behind the question.
Strong businesses are not built by guessing the right number to start with. They are built by understanding a problem deeply, creating value intentionally, and allowing money to support that process — not lead it.
Before asking whether ₦1m is enough, ask whether you are clear enough. That clarity will take you further than any amount of capital ever could.
