KenyanLyrics, what is flimsy about the explanation. Please engage in an intellectually rewarding debate. Please share with us your experience in raising capital in this country.

@mdudu @madhaquer you ought to know that most Kenyans, including myself, browse the internet on mobile. This means I have to summarise some of my posts, as my phone puts a limit on the number of characters per post, and also typing on mobile is just a pain as well.
@madhaquer my business is there for all to see. I have not been capitalised. I have spent one year building a Minimum Viable Product, which has now generated enough in sales to expand both the team and the product.
Basically, the approach most people would like to take is

Find Capital>Build Final Product>Find Customers

But I believe the best way to operate is

Find Customers>Build Minimum Viable Product>Find Capital

I support KenyanLyrics on that.Capital should never be an obstacle.Most people want to start a biz and make 100k a month pap instead of buying a few products to start with and grow rich slowly.

Personally I wouldn't venture into that business, but for the sake of argument, here's how I would approach it:
1. Find a niche ailment that has low competition but high enough demand to satisfy a small business's needs e.g anal boils.
2. Build a minimum viable product. No flashy stuff, don't waste your time with too much legal mumbo jumbo, just make a pill that works. To build this prototype shouldn't be too expensive. Fund this using friends, family and fools.
3. Test the market using this prototype. Get at least three retailers to place an order for your product.
4. Expand in your niche once you prove the viability of your product through sales(if it doesn't sell well, you can cut your losses at this point). Use the profits and orders off of that initial Minimum Viable Product to plead your case for financing for expansion. Become the anal boils go-to guy. Now you can do those legal things. There you go, you are now the proud owner of an anal boils pharmaceutical.

@Drunkard you will be surprised how slow the biggest firms are to adapt to change. Nimbleness is one of the key advantages of a small company, and is commonly used to get a foothold in a market with big players