Category: Small Business and Entreprenuership

Becoming an entrepreneur is a choice, sometimes a risky one. But if well planned, it can be very rewarding.

FOR Mrs Monsurat Oladunmi Adesanya, Chief Executive, Ladylad Venture, Lagos, using wireworks to design jewelry is good business.

She sells her products to those who appreciate them and are willing to pay more for the unique pieces.

She started her business last year, after a sojourn in clothing trade.

Since then, she enjoys the freedom of being her own boss and earning more cash than she she did in her previous occupation.

Armed with a six- month training, she started the trade with N70, 000; but today, the business has grown and is worth N700,000.

She said she went into the business because she loves designing. She has created gorgeous wire wrapped jewelry which are acceptable in the market.

However, the biggest challenges, she said, are the people who wire wraps and sell them at ‘ridiculous prices’. Her work is an art and most artists don’t know much about the business and how to make a profit, or even to pay reasonable wages.

She claims she can make knots and simple wire ‘baskets’ that could contain treasures, such as pebbles or stones. She practises the techniques and perfects them with different styles. With wire works, she can work on earrings, rings, pendants, chains, necklaces, bracelets, necklace sets and bangles.

Interestingly, the fortunes of the industry is driven by the fact that the sector is growing globally. The business is built on polished lower size and quality wires. In Lagos and other parts of the country, there is an attempt to build a large pool of skilled artisans with vast traditional knowledge and expertise in jewelry making and wire works. Some have transformed from family owned to professionally managed businesses.

For a beginner, no special equipment to bend and shape the wire is required except two-three pairs of pliers. There are a lot of gadgets that will bend the wire for one and make it perfect, she added.

But Mrs Adesanya said she does not duplicate other people’s works. Instead, she tries to make her own designs refreshingly unique.

The secret of her success, the Ladylad Venture boss disclosed, is that she focuses on not only learning different techniques, but also mastering and using them to develop a look that is truly unique.

This dedication to mastering wireworks techniques has enabled her to find a carve niche in the market.

Besides, making jewelry, she also runs courses in wiireworks for young Nigerians.

Mrs Abosede Daniel, a Lagos based entrepreneur, has taken advantage of opportunities in skin care business to establish an income creating venture. Daniel Essiet reports

Skin care is a fast growing business in Lagos and other parts of the country. This has driven Mrs Abosede Daniel, Chief Executive, Booseh Nigeria Enterprise, into the production of BB petroleum jelly. She saw a gap in the market and latched onto it.

She found that there was a huge gap in the market for skincare products at a more affordable price. Having spent a lot of time learning how to make suitable skincare products, it soon became clear that there was a niche in the market ready for what she was producing.

She had help from friends and family. Words of mouth and recommendation have also been vital to her growing a strong customer base. Over the years, she has learned a great deal about natural skin care and she is happy to share her knowledge. Running a business involves many more challenges. Looking back she said she has been on an event journey. Her product is targeted at the burgeoning skin care products’market.

In an already saturated marketplace, the focus of manufacturers has been towards premium products highlighted by new formulations with natural ingredients. She said she is aware of this.

According to her, petroleum jelly is a strong product in the skin care segment and a strong component of the skin care market. This is because consumers are becoming increasingly aware of the damage caused by exposure to the sun’s rays. Awareness of these effects is responsible for the rates of adoption of sun care products.

Mrs Daniel started the business in 2008 with N5,000. Today, the business is worth N500,000. She has employed three staff. Many of the latest products have been designed to treat multiple problems with faster acting formulations. She has built a successful business and did something even more remarkable.

As a result, over the years, she studied skin care and mastered the care of her own skin. She has enhanced her skills on how successful people in the business attracted clients.

For most business people, earning fortune and fame are the ultimate goals, but not for her. The Booseh Nigeria Enterprise boss had to do something that would bring greater meaning to her life. She has ventured into olive oil production. Growing interest in organic products has boosted the branding of olive oil, which is carving a niche in the edible oil market.

For her, success is setting a goal and reaching it. Whether it’s learning a trade, or keeping one’s business afloat during hard times, as long as it’s a goal and one meets it, one has been successful.

Today’s world is not one that encourages anyone to sit with arms folded. She wants young school leavers to acquire entrepreneurial skills, which can be used as a means of generating extra income.

Booseh Nigeria Enterprise boss has got rewards for the fruits of her labour, which is very important to her. It gave her a sense of accomplishment to be part of the people encouraging entrepreneurship.

She works long hours, and she is happy and fulfilled. What keeps her focused is continuous positive energy, the right attitude and knowing that she has to be patient.

Even then, she has a problem. Funding is a biggest challenge for her to expand. But she does not allow it to weigh her down.

In the olden days,our forefathers used black soap.These days,people no longer wish to be seen with the soap.Many of those who still use it do so in the confines of their houses.They dare not say it outside that they use black soap.But surprisingly, a budding entrepreneur, Itunu Omotayo, is making a kill from black soap making.DANIEL ESSIET reports.

Opportunities abound for entrepreneurs veering into the natural products market. This is because more people are becoming health conscious.

Nigerians are aware of the inherent harms by some processed beauty products to their bodies. An inspiring entrepreneur, Itunu Omotayo,has latched in on this to make money.

A graduate of Banking and Finance, from the Covenant University in Ota, Ogun State, Omotayo started working on the project while serving as a Youth Corps member in Lagos, in 2010.

He decided to pursue his dream of producing black soap from 100 per cent natural ingredients. The natural products industry does not require a lot of capital.

He started saving money from his allowance and the money he got from the company where he was serving. He got money from friends who believed in his vision. This enabled him to start the business without handicaps. He knew there was a gap in the market for affordable, quality soap and believed everyone should be able to afford and use a decent natural soap. So,when shops around the world began professing their love for his product, he knew he had a viable business.

The producer of Oyinlewa Black Soap sees his venture as rewarding. He had challenges with funding when he started. But things turned out far better than he could have imagined, through his exposure by his business.

Omotayo is passionate about soap making and has been a lover of black soap for years. He learnt about ingredients for soap making and is inspired by other soap artisans. Omotayo has a active, passionate community of friends who were invaluable in launching his business. They provided an instant customer base, supporting him from the moment he opened shop.

He started with N150,000. At every major stage, he sought funds. He had an opportunity where there was an absence of the product. In his line of business, he notes that there is freedom and creativity. He also has control over what he does,thereby allowing him to reap what he sows.

He said there is a market for black soap because of its natural healing ingredients. His soap business has since taken off and is set to grow. He hopes to expand his product line into natural cosmetics. The branding is good, the products nice and the customer service excellent. He tried to make sure that overhead was very low.

His experience, along with interpersonal skills, gave him confidence to approach people and be upfront with potential customers to get sales. Everyone struggles. Everyone fails. Everyone has disappointment.

Omotayo picked himself up from the dust and moved forward with excitement, enthusiasm and delight. He is surrounded by positive people who make his job easy.

He is happy to have people to share his life with. The product is popular. He is selling it. The team is making it.

The promotion of the business is done by words of mouth, due to the high proportion of referral business.

He started with a few personnel. Today, Omotayo has two staff and 10 part-time workers. The business is worth N2 million. As the owner, he works long hours, and carries out multi-task. He isn’t a real expert on beauty products – but he certainly is a real, successful businessman.

Omotayo is happy with the way things are going. He has a feel for business, and he loves it. He’s the master of his own time, the money is good, and he’s in control of everything.