The Nation Newspaper

Category: Small Business and Entreprenuership

  • ‘Nigeria needs more startups to grow economy’

    ‘Nigeria needs more startups to grow economy’

    Ibifuro Tatua, CEO, Boss Pan Africa Limited, a company involved in packaging and sourcing building materials is helping others to take their business to the next level and connecting with their contemporaries in other parts of the world. In this interview with Rita Enosegbe, she shares her passion for business and other related issues. Excerpts:

    How did your journey into business start?

    My journey into business started from an early age, without really realising it. I was groomed to be a business woman by my grandmother who herself was a trader and a farmer. Every holiday when we went to the village to visit her, she would make me sell her farm produce and she let me sell it as I pleased and she would sing my praise to all who cared to listen. I did it then just for the praise, I enjoyed the drama and attention I got as she would use my name to sing different songs. She would dance and she was loud about it, so selling and doing chores, for me, became my goal every holiday, even though my dad who was a pilot and my mum a contractor with shell.

    My other siblings hated the idea but I did it as if my life depended on it. I did it with so much joy, and today I am that girl; that happy, hardworking grandma’s girl, now a woman.

    Which was your first job?

    When I graduated, the first job I got was with a construction company. They built mostly churches, universities and did big projects only. I was the site clerk.

    I resigned as the site clerk, registered a company name and called my mum and my brother and I started this supply business of building materials. I relocated to Lagos and ventured into other line of businesses, and realised there is so much potential in Africa; there is so much to learn and so much to do.

    I have always had an independent mindset. I have too many ideas running through my mind and I know that doing a white collar job would limit me to a certain extent and I would be required to work within my job description, job group and the company scope. I do white collar jobs only to gain knowledge and the technical knowhow of certain operations and to add to my CV. But once the knowledge is tested and proved, I like to expand and maximise it in my business world.

    How do you compete with others in the market?

    Ideas and opportunities kept presenting themselves to me. I just don’t know how to be idle; I like to work, even if it is for charity. I just like to be productive and multiply in productivity. I am the kind of person who would sell water to fish. If I find myself in a bad place, I like to think of what good can be sold there. So, basically, ideas present themselves to me and I take a chance on them.

    What do you consider as inspiration on the job?

    The very first people I share my business ideas with, the ones who support and give approval. Those I need the most are the first to say no, don’t do it, you can’t do it, forget about it or some just go silent on you. Without moral support, it becomes four times more difficult to proceed, but now I have decided to try things out on my own or with like minds that may not necessarily be close to you but who believe it can be done. That is no longer a challenge for me, however. Every business has its own challenges; for some it is cash, for me it is to understand the business, the nitty-gritty of the business. It takes time to grasp the basics of a business, we see the beautiful aspect of a finished product, we project in our mind and calculate the expected turn out of the business, but most times those tiny factors we overlook can set us back and frustrate a well planned and heavily funded venture.

    As much as it is good to hire professionals to handle every area of your business, there is need for you to have an idea of what to do to save your business until help surfaces. I call it business first aid; there is also need to have an understudy for every professional.

    What inspires what you do?

    I learn from those who have gone through the mile I want to go. I read books, watch documentaries on the businesses I am interested in. I keep an open mind, I take risk, and I make friends and find mentors or role models in the chosen line of business. I don’t mind running errands for them just to stay close. I tell them my mission and most often than not, they are happy and willing to put you through, but you must always remember to give them due credit at every chance you get, and you must be focused.

    What challenge did you face at the beginning?

    I trust easily. I give people benefit of doubt and I like to give room to my workers to create. I do not box them and they do excellently well, but not checking on them, not checking on their final delivery has cost me time, money and a few opportunities. So, now, no matter how brilliant an idea, I see to it that it is reviewed critically. I still make mistakes; I am still a work in progress, but I try to see how best to improve on production and services.

    I am inspired by a lot of factors pending on what angle I look at it. I like change, I like to make a difference, I like to feel secured, I like to just go out there and come back with favourable results or at least make an attempt.

    If you don’t utilise your full potential in your youth, when you are strong and active, is it when you are old weak and feeble that you will begin to think and work? In my first year at the university I came across a phrase: procrastination is the thief of time. I liked it so much and used it often, as so as I knew what it meant, if you don’t do it now, you might as well forget it because every second that clicks is time being spent, burnt, lost, and it is you getting older by the seconds. Some people tell me they don’t have the platform or opportunity to prove themselves. Some say they have ideas but don’t have the resources, well how long will you wait? What if the platform or resources you are waiting for never comes; will you just wait and do nothing? Why not get busy while you expect that big break. Trust me, nothing is too small, it was one Otunba in Lagos who said: ‘shit business is big business’. What can be low as that if you look at it from a layman view?

    How did you raise your start-up capital?

    No matter how quietly you make it, your responsibility increases, the demand on you is high and there is the need to give back to the society. You just have to set your priorities straight; you must set aside money for business, money for pleasure and money for emergencies. You must learn to be financially disciplined or else you end up worse than where you started. I have made several financial mistakes. I love to shop and I love to help people, but I realised that moderation is the key word. In everything you do, set a limit.

    It was Mahatma Gandhi who said: “Never test the depth of a river with both feet,” so I make sure I don’t get carried away with expenditures. As for human resources, some people see me and their first reaction is, this small girl? Well, by the time they sit down to discuss business with me and realise that I know what I am doing, they begin to say, ‘yes ma’, ‘ok madam’ or ‘yes boss.’

    What do you hope to gain from the international summit?

    When I got an award as the young performing personality of the year at the Niger Delta Achievers Merit award in 2012, I was surprised to see many young entrepreneurs like myself at the event. I was really impressed to see that the young people have decided to take control of the economic situation around them. Then at the African Achievers Award held in Ghana, I met much more youths across Africa taking giant strides; some of us came together and decided that there was need for us to meet, inspire, empower and support the next generation of emerging global business leaders who are committed to use the power of business to change some of Africa’s most challenging economic, social and environmental problems. The summit will feature the top business leaders like Mrs. Divine Ndhlukula, Forbes most successful business woman in Africa 2012.  Others include Maha k.Al-Ghunaim Chairperson & Group Chief Executive Officer of the Global Investment House, Justina Mutale (Founder Positive Runway), with presence across 54 countries globally and Richard Branson, founder and Chairman of Virgin Group.

    The summit is designed to support young people on their ongoing journey of business excellence as renowned business leaders, industry giants and entrepreneur expects have been lined up to give them extensive training, while stimulating real life business challenges in the 21st century with pragmatic solutions for society benefit and business success. It would also help to match individuals with the best in the industries or sector will be our own strategic mechanism to guarantee value.

    What are the other benefits?

    Participants would gain perspective on their own current leadership challenges, looking both at their personal styles and global strategic context of their industries. The business sessions, trade collaborations, seminars, expert business tour, networking opportunities and political exposure will surely define the crescendo of the summit and make it an experience unforgettable for all participants.

  • Canada drives youth entrepreneurship in Nigeria

    Canada drives youth entrepreneurship in Nigeria

    CANADA has announced support for a new project to help increase job opportunities and promote entrepreneurship among young people in Nigeria.

    Senator Don Meredith, on behalf of the Honourable Christian Paradis, Minister of International Development and La Francophonie, made this disclosure during the inaugural national convention of the Akwa Cross Association of Canada. Akwa Cross is a non-profit organisation dedicated to promoting the preservation of the cultures in the Nigerian states of Akwa Ibom and Cross River.

    “The need for meaningful, sustainable employment, especially for youth, is a critical issue in Nigeria. Creating sustainable economic growth is the best way to break the cycle of poverty and create shared prosperity,” said Senator Meredith. “Canada is proud to help increase employment, support small entrepreneurs and secure livelihoods for young women and men in areas such as agriculture and forestry.”

    Canada’s support will help stimulate private-sector-led growth in Nigeria’s Cross River State by creating the conditions to responsibly manage its forestry, agriculture and fisheries sectors. Efforts will focus on providing skills and entrepreneurship training for young people so they are better equipped to secure jobs and start and grow businesses in the country’s resource-based economy. Today’s announcement builds on Canada’s work with Nigerian organisations and government bodies to improve how the country manages its natural resources.

    “Canada, under the leadership of Prime Minister Harper, is recognised as a global champion for improving maternal, newborn and child health.”

     

  • Tips on hair cream production

    Tips on hair cream production

    Setting up a successful hair business depends on a combination of factors – self-motivation, luck, good planning and effective implementation. These have helped Mrs  Nonye Kate Ezeagwu, chief executive, Neomal Global Ventures, to launch into hair cream production. She is among the new generation of micro entrepreneurs in the subsector. DANIEL ESSIET  reports.

    SHE is an entrepreneur who is inching fast towards success. It all started from a dream  where she mixed ingredients to make hair cream.

    Mrs Nonye Kate Ezeagwu  understands that hair is vital to women. Also, she is a believer in the saying that a woman’s hair  is key to her health and image.

    Buoyed by this, she established a micro hair cream business with N5,000 at her home. She named it Neomal Global Ventures.

    Through  inspiration, she has  found ideas on how to make a unique  product. Mrs Ezeagwu    mixed different ingredients until she chanced on the right formula. Initially, she gave her creams as gifts to her friends and family members to test. Satisfied by the responses she got, she started selling at a market, where it received acceptance, such that by the end of the day, she had sold out.

    Paying close attention to her customers’ complaints and suggestions, she ensured  they didn’t walk away from her shop annoyed. What is encouraging her is how fast good words are spreading about her products. Customers are happy with the products.

    While brands can be recognised by many things, for instance, the logo, colour and founder’s panache, in her case, it is the colour.

    The company is still based in Ikotun,  a Lagos suburb. But production has expanded. Though still a cottage industry, the business is on  course and that is  her creative force.

    For her, developing cosmetics is not about trying to turn copper into gold. Rather, it is about turning good chemicals into creams.

    On the firm’s Corporate Social Responsibility (CSR) initiative, she said it supports the needy and the church.

    For her, it is important that the public has a choice and she is   happy to compete with the quality of the products. She believes there is a need for people to understand there are alternatives.

    She,  however,  understands that  business can be incredibly cut-throat, high powered and difficult to break into. So, where does one  start if one has a dream of becoming a successful business man or woman?

    “One of the keys to success is having a clear goal and vision. One   must be incredibly focused and driven to make it in the business world,” she said.

    But she also hasn’t forgotten where she came from though. It makes her  more grounded and realistic. She believes in ‘longevity’ rather than the ‘one big cash-in’.

    Mrs  Ezeaqwu’s fortune was not made through a lucky lottery win, nor did he inherit his wealth. She   started from humble beginning. Determination and hard work pushed  her from obscurity to her present level.

    But she isn’t resting on his laurels. She is keen to find new pies to put her fingers into. Success breeds success seems to be her philisophy.

    Her plans, given  funding, is to bring high quality, luxury yet affordable beauty and comfort products to the market.

  • Making a living from copywriting, creativity

    Making a living from copywriting, creativity

    The creative industry is one of the nation’s success stories. This follows an expanding market for creative businesses which strive to innovate to get excellence. One of those  in the busines is Chris Ogunlowo, who  chose  self-employment, having built  expertise  in advertising and publishing, reports DANIEL ESSIET.

    There is a growing market for creative businesses. These are businesses that can  offer  services  in advertising, design, film production, games development, music and the visual and performing arts. Many Nigerians with talents  are exploiting the opportunities. Some of them make money hanging around galleries, theatres, cinemas, concert halls, comedy clubs, libraries, dance studios, and painting classes.

    A  few  of them  have  grown  into continental class businesses from   suites  and  self-contained  apartments  after achieving significant international success and reach.

    One of them  is  Chris Ogunlowo, the creative director & principal partner, Kwirkly Innovations, Lagos. He showed his entrepreneurial prowess from a very early age, and all signs pointed towards his making it big in the future. He knew that writing was his passion.

    He loved words that evolve naturally. This helped him to write and edit contents successfully.  Nothing gave him a greater sense of fulfilment than a well-crafted paragraph.

    His journey to self-employment was not smooth. After working at some advertising agencies for many years, he resigned to set up an agency.

    He got some jobs from some old customers. With each job completed, his portfolio grew, and so did his confidence.

    On how he  got  the  idea or concept for the business, Ogunlowo said he is quite finicky about  creative works and interested in how business and creativity could work together.

    “Having worked in some advertising agencies for some time, I realised that there is the chance to do creative campaigns that aren’t adding to the noise that consumers are assaulted with daily but to create compelling and relevant work that impress both clients and their consumers. The need to do more of these inspired the business. And in terms of our target clients, we have focused on small and growing businesses. But, interestingly, established businesses patronise us too.

    “As I mentioned, the mission was to demonstrate that creative works should be really creative in addressing marketing challenges. We set out to push ideas that solve business problems and make them stand out. Another way to put it is that we want to help clients achieve their advertising objectives in more appealing ways, and with disgust for any form of mediocrity.”

    As  an entrepreneur, he sought to find the best marketable creative ideas  that  he  could  sell  for big cash. It was a stroke of luck. He became a true lover of copywriting.

    His business handles various branches of copywriting, including brochure copy, website copy, blog copy, advertorial content, product descriptions, press releases.

    In the beginning, he was alone, but  now  he  has four staff who specialised in some areas. On  how much he  started  with, he couldn’t estimate but he said he started with his savings.

    He recalled  his pains. “As typical for most businesses, we have had our share of challenges, both externally and internally. Some of these have been about our nature as a rather unconventional business. We had to deal with a structure that fits our mode of working. We’ve also dealt with not knowing where the next client will come from. As the team leader, I’ve also had to confront issues about team synergy and having a tab on external relations. Some of these can be daunting, especially when you are just starting, but as time goes on, they become easy to manage. Working with external parties can be challenging too, especially when negotiating with them based on the type of clients we attend to.”

    At the moment, he  is  leading  a  five-man team. Though small, he has tasked the team to deliver on promise to clients, especially brilliant results that do not compromise on value.

    Though startups like his succeed, people have common misconceptions about them.

    “That everything will go according to the plans. They rarely do. The challenge itself lies with managing uncertainties and, really, nothing tests one’s willpower more than starting up. Maybe being chased by a lion comes second. Running a genuinely focused startup is usually not as sexy as it’s usually painted though, rather ironically, the fun is coping with the rush of adrenaline. Entrepreneurs sometimes assume they understand the market thoroughly. But really, there are market forces that are alien to existing knowledge. Also, founders assume every team member is there for the long haul, through thick and thin. No,” he said.

    His mindset is focused on acquiring new customers, while he spends some of his time and resources staying in touch with their old ones.

    To  carve  a niche, he  works with  many small business owners – both new and established.

    Copywriting and marketing have  been of benefit to him. He  couldn’t see being able to accomplish anywhere near what he  have without the tips, tools and techniques  he picked up over the years.

    What’s been his  favourite project so far? His words: “It will be hard to rank them. They are all unique in different ways, even if I have to say so myself. Our Direct Marketing work for Interswitch and the 2014 Coca-Cola World Cup ad, which I was a part of, are pretty exciting examples.”

  • ‘Giving up is not an option anymore’

    ‘Giving up is not an option anymore’

    Two years after Hesey Designs started making fashion apparels for women, its founder and Creative Director Eseoghene Ise Odiete, won the Enterprise Challenge, an initiative of the British Council, Virgin Atlantic, and Zenith Bank targeted at young entrepreneurs. In this online interview with Joe Agbro Jr., she revealsher beginnings and outlook for the future

    Congratulations on being a winner of the Enterprise Challenge contest which over 1000 persons applied, what do you think stood you out to emerge as a winner?

    There were five criteria they set: Market appeal, international appeal, Ingenuity, scalability, impact. I believe my business met those criteria.

    Richard Branson is a global entrepreneur and adventurer, how was the experience of meeting him like?

    It was an awesome experience meeting and learning from Richard Branson; one that will change my life and business and take it to a whole new level. Hearing from one of the greatest entrepreneurs and learning that those challenges I face are ‘normal’ and against all odds I will conquer.

    I got to touch him so I tapped some entrepreneurial anointing from him.

    What was the motivation for starting your business?

    I have always been intrigued by the fashion industry even as a child. As a skinny girl, one would expect that I will be a model. Well, I did enjoy the catwalks, but I wanted something more; I wanted to build a global fashion brand. So after my university degree, I decided to set up a fashion brand with a mission to promote Nigeria and Africa, so Hesey Designs was born. I passionately believe that trade is what Africa needs for development.

    Why do you focus on creating only women’s apparel? And how much did you use to start it?

    Well, I am a woman and I am more familiar with what we will love and what we will buy. So I decided to stick to that. Maybe later I can venture into the male apparel.

    I started the business with my savings of about 10,000 naira. I produced a few bags, sold them and used the money gotten to produce more.

    Being an entrepreneur is a fright for young Nigerians, what fears, if any did you have setting out in your business? And how did you address it?

    As a young entrepreneur, starting up was difficult. My first main issue was sourcing for fund. I had to make do with the little savings I had and grew from there. Also, getting the products out. I couldn’t afford a store so I made use of the Internet. I sent emails to several fashion sites requesting that they feature my designs. I knew I had a great product but I needed to be known. So, many of them featured the product with my contact. A lot of people started contacting me requesting for the product.

    Business management.  I started after the university and didn’t have an idea of how to go about running a fashion label.  So I read up a lot of articles and business management books from the Internet.  Books and articles on how to start and run a fashion label especially with little funds.

    How many employees do you have?

    We currently have three full-time staff and two contract workers.

    What are the challenges you confront in the course of your business?

    My present challenges are getting adequate materials, dealing with craftsmen and shipping products internationally. It’s very expensive sending our products to customers abroad. We are looking to work with a courier firm that can offer us great services at a fair price.

    In fact different issues spring up daily and I try to address.

    What is the toughest decision you’ve had to make?

    Quitting my day job to focus on the business. It was a ‘no going back’ decision.  I could not afford to fail again as I had nothing to fall back on. So it was a huge decision and also a motivation to succeed.

    Before Hesey Designs, what were you doing?

    I started Hesey designs in 2012. I had a day job in a media company and I juggled both. Hesey started after my NYSC.

    Was there any time you thought of quitting?

    So many times! I have cried several times; I have told myself to get a good paying job or marry a rich man “‘laughing”

    How was growing up like for you?

    I am the last of five children, so I think I grew up pretty fast having so many older siblings. My parents believed in education so they did their best to give us good education. I have always been a smart child (*wink), I was always top in my class and I was the best graduation Art student from secondary school.   I was sports prefect, a long distance runner. I think all these experiences help me now as an entrepreneur.

    What is your driving force?

    My vision; I always keep the end in mind. I knew what I wanted to accomplish and nothing was going to stop me. I knew things may not be the way I wanted it now, but things were sure getting better. At times when I felt bad and wanted to give up, I always remember why I started, looked at how far I have come and remember where am going.  In two years, what many people considered a hobby has become my greatest gift so far. I have grown a N10, 000 business idea to one that can support families, to one that has impacted over 40 women; to one that has been recognised by great women like IbukunAwosika. Bizwatchng named me one of 40 Nigerians entrepreneurs under 40. So when in doubt, I simply play all these images in my head and I realise that giving up is not an option anymore.

    If you were start all over again, what would you do differently?

    I would not be as experienced as I am now, so I guess I will do it the same way. I don’t think I would want to change anything.

    What advice would you give up and coming Nigerian entrepreneurs?

    The internet has provided you with all the resources you need to run a business. The government and corporate organisations are supporting small business with the necessary funds to take their businesses to another level. You don’t have excuses not to succeed anymore. All you need now is the passion and determination to follow through.

    You’ve won a £5,000 grant for your business, how do you intend to spend that money?

    The cash will be invested into the business.

    Where do you see Hesey Designs in the next two years?

    I see Hesey Designs becoming an internationally recognised brand with outlets in at least two countries. I am looking to expand; increase sales, empower more people and get closer to our vision.

     

  • Day Branson shared business tips with Nigerian entrepreneurs

    Day Branson shared business tips with Nigerian entrepreneurs

    Two of Nigeria’s brightest young entrepreneurs who won the winning a competition by British Council and Virgin Atlantic in partnership with Zenith Bank had the opportunity of gracing a business master class from Sir Richard Branson recently.

    Eseoghene Ise Odiete and Nasir Abdulqadir Yammama won the Enterprise Challenge – an online competition for Nigerians entrepreneurs aged 18-35 and living in Nigeria or studying in the UK. The Apprentice-style competition took place over three rounds, during which candidates wrote an essay on their entrepreneurial journeys, created a video pitch for their businesses or business plans, and had their ideas scrutinised by a panel of experts in Nigeria and the UK.

    The mentoring session between the two winners of the enterprise challenge competition and Sir Richard Branson took place on the 1st of July in London. The session was designed so that the winners could ask about and learn from the magnate’s life and business experiences. At the end of the meeting, it turned out to be more than a mentoring session, it was a master class which everyone benefitted from.

    Sir Richard Branson, Founder and Chairman Virgin Group, said Virgin Atlantic is delighted to have supported the Enterprise Challenge program dedicated to supporting young Nigerian entrepreneurs and fostering new ideas.

    He said: “Innovation has been an important part of Virgin’s heritage and I was pleased to see so many young Nigerians keen to embrace new ideas through the competition. Many congratulations to Ese and Nasir who had fantastic business plans and I’m sure will have very bright futures.”

    Eseoghene Ise Odiete runs Hesey Designs – an online store selling African-inspired accessories, which also helps to empower and mentor other young African women. She said: “It was an awesome experience meeting and learning from Richard Branson; one that will change my life and business and take it to a whole new level. I am super grateful for the opportunity.”

    Nasir Abdulqadir Yammama, a postgraduate student at Middlesex University in London, won with a business plan for a mobile phone app called Verdant to help crop farmers.

    He said: “The Enterprise Challenge has been a remarkable competition which I thoroughly enjoyed. I believe it has not only developed my skills but exposed me to a whole new way of looking at  things from writing to pitching and presentation. Also, the calibre of people I have been able to interact and network with is the absolute thing every aspiring entrepreneur and innovator wishes to associate with. And Meeting Sir Richard Branson was a priceless opportunity that I will continue to value immensely. I have been able to acquire so much wisdom and inspiration that I feel ready and bound to exceed all expectation.”

  • Firm empowers undergrads with grants, life skills

    Firm empowers undergrads with grants, life skills

    IN its quests to engender the culture of self-reliance and enterprise among the teeming youths population, Life Can Be Greater (LCBG), an organisation which prides itself as a “solution-provider to everyday problems” has instituted a process aimed at tasking the creative ability of undergraduates.

    The LCBG kicked off its inaugural campaign with an ideas contest, which they coined “solutions session” held at Lagos State University (LASU), Ojo campus, recently.

    In anticipation of an engaging interaction with the organisers, the students, many of whom are already battle-weary from the protest over the tuition hike and prolonged faceoff of the institution’s management with the Academic Staff Union of Universities (LASU Chapter), fanned out en masse as they occupied the faculty hall of the Social Sciences, venue of the event.

    After filling the hall to the brim, the students got the first shock of the day as a few dozen of the participants were immediately rewarded with a N20,000 cheque in the first few minutes of the event. It was a simple game: they were all to look under their seats and pull out a brown envelope tightly sealed beneath it.

    Upbeat, the students ripped open their envelopes; but while some hissed as they read out the words printed on the cards, ‘Better luck next time,’ there were rapturous screams from various parts of the hall as others proudly waved their new found prize which is to be applied towards their tuition.

    Expectedly, this got the event to a fiery head start as the students decided to seize the moment and not only compete for the remaining envelopes with various size cheques, but contend among themselves for the two big prizes: the half and full tuition scholarship on offer, a development the organisers described as heartwarming since they set out to challenge the students to think creatively and proffer solutions to everyday problems in their communities, while rewarding those who come up with brilliant simple answers to internal and national issues.

    Marketing Executive and PR Director of LCBG, Mr. Derin Olukayode, said Life Can Be Greater is a movement that proffers solutions to societal issues on a small scale and galvanises citizens to push for their implementation on a wider scale. “We are looking for practical solutions, we don’t have to wait for the government for everything.

    “There are little things we can do to make life better for ourselves and the next person and that is what we want to inculcate into the students. Life, indeed, is hard; schools fees are high, but life can be greater if we focus our minds on solving those little things that make the country and ourselves greater.

    “LCBG is here to let you know there is hope. If I have learned anything in life, it is the power of hope and the power of one person to change the world by giving people hope. Washington, Lincoln, King, Mandela, Obama and even the young girl from Pakistan, Malala, are examples of the power of what one person can achieve,” he said.

    During the solutions session, several pertinent issues directly affecting students were thrown up, among which include the worrisome trend of students dropping out of school in large numbers every year because of the high tuition, inadequate funding of education, insecurity problems, incessant disruption of academic calendar owing to ASUU strike, and absence of accommodation for LASU students.

    “We are worried because those that drop out of school today are the ones who will become the society’s nemesis tomorrow, and no matter how successful we become, we still have to live in a society with a high level of hoodlums and thugs. Also, we wonder why WIFI network is free in other universities like the University of Lagos (UNILAG); yet, we pay a lot in LASU to subscribe to the internet connection in this ICT generation,” one of the students said.

    At the end of the ideas contest, two winners emerged. Oluwafemi Okunleye, a 300-level student of Accounting, won the full tuition scholarship for his didactic analysis of the accommodation problem in LASU and his solution of the state government engaging private sector organisations like Life Can Be Greater, in a Build, Operate and Transfer (BOT) mechanism that will alleviate the suffering of students who travel long distances to attend lectures.

    Lawal Ismail Omoniyi emerged second best and walked away with the partial scholarship for inspiring his fellow students to catch the entrepreneurial bug early in life, because “nobody owes us a job after graduating. It is up to us to create the future we really want and one thought-provoking seminar like this is enough to change people’s lives,” he noted.

    An elated Omoniyi told newsmen after the event that he was happy to have won the partial scholarship. “It is really a great day for me. When I came here, I wasn’t expecting to win any money, but along the line I was inspired by what was happening in the hall and I called up my spirit of determination and psyched myself to come up with a brilliant idea, which fetched me N100,000.

    “I also thank the organisers of this programme, they have demonstrated that, indeed, life can be greater. I emphasised during my presentation that one seminar is enough to change people’s lives and build up the entrepreneurial spirit.”

    A member of LCBG, Ms. Omorinsojo, explained that the group could not afford to give every student grants and decided not to award the scholarships based on academic performance, “because we believe each student is qualified to be a change agent and history has shown that bright students do not have the monopoly of creative ideas and solutions.”

    Kemi ‘Lala’ Akindoju, the MC of the event, said – “We are happy we fulfilled our mission, which is that for the students, even if they didn’t win any money, many would be leaving the hall challenged and inspired to change their environment by looking inwards for solutions to their own problems.”

    While commenting of the initiative, the president of the Students’ Union, LASU, Comrade Nurudeen Yusuf, popularly known as Optimist, was full of praise for the LCBG team for bringing such huge relief to students through the programme.

    “We look forward to more rewarding cooperation with the LCBG team. We believe there can be greater life in LASU, in Lagos, and even in our country. As a student body, we have the vision of launching a students’ endowment fund where we can dip our hands into some millions of naira and give to indigent students. With this, the public will have more confidence in us and even support the project.”

  • The magic of soya bean powder

    The magic of soya bean powder

    Soya bean processing has become a viable business for entrepreneurs. Not only does the product improve human metabolism, it is believed to contain potent supplements helpful in curing many ailments. DANIEL ESSIET reports.

    It is believed that the composition of a man’s diet, to a large extent, impacts on his state of health and general well-being. Therefore, the fad now is for man to control or regulate his diet for a healthy living.

    Several food items, especially in their natural state, have been discovered to be of immense assistance in this regard. One of such is the Soya beans- which have been proven to be efficacious in the treatment of diseases.

    Owing to this, dealing in soya bean products has become a very lucrative business for entrepreneurs. One entrepreneur that has latched on this, is Mr. John Eboh, Chief Executive, Beloved Joge Limited, a firm involved in the manufacturing of soya bean flour.

    Eboh, who started the business in 2011, has not regretted his decision to venture into this aspect of manufacturing, considering that the discovery about soya beans products has led him to entrepreneurial success, making fortune to smile on him.

    The journey into this enterprise began from Eboh’s kitchen. On a particular day, his wife brought soya beans with little condiments which they prepared for meal. It turned out to be very tasteful, and consequently became a traditional meal in his household.

    The turning point came when Eboh’s friends, who tasted the meal in his house, advised him to explore the business side of it by finding a way of getting  the  flour to the  market as it  could  turn out  to be a  commercial  success.

    Consequently, they began to think of the product as a viable business. After a careful market survey, Eboh saw the big potential inherent in it, with the discovery ot the underserved market.

    The couple believe that there is a big opportunity for a new entrant that will offer the one thing that the players in the market are not offering: superior taste, and they capitalised on that opening.

    Subsequently, Eboh started the business with N4, 000. He bought soya beans and the other ingredients he used to make the first batch of the product.

    He runs it as a family business, with his wife focusing on creating the right mix of the product. Marketing of the product is done through a salesman.

    Today, the business that started in their home has grown into a venture with assets in excess of N2 million, and still growing.  Eboh is satisfied that his company is offering Nigerians a “delicious healthy tasty product.”

    But like every other start-up business, the challenge has been funding to expand.  According to him, raising capital is a challenge for micro entrepreneurs, hence, he has had to rely on his personal savings and proceeds from sales to capitalise the business.

    However, Eboh remains undaunted, and continually hangs on to the belief that they have a good product and that people will love it as much as he did.

    The other strength is that they have been able to make the business profitable. For the amount of work or risk involved, though, the premium is about right.

    For the Ebohs, money and joy have been achieved not only through soya beans, but also through the potential in human capacities they are currently tapping.

  • Lady cobbler finds her passion

    Elizabeth Ojelua is the up-and-coming entrepreneur behind shoemaking startup firm, SureLift Tranx. The company, which was launched in 2010 with eight staff, has been developing a name for itself in the  fashion industry for its boutique, handmade shoe and handbag designs.

    Ojelua found time to answer questions from “How we made it in Africa” on her inspiration behind Surelift Tranx, and what it takes to be a first-time entrepreneur in Nigeria.

    What inspired you to start Surelift Tranx?

    I first conceived the idea in 2008 but officially started in November 2010. The name Surelift Tranx is a combination of my childhood nickname “Surely”, ‘lift’ inspired by God and ‘tranx’ from transformation. What actually inspired me was my creativity and the fact that I have always loved to work with my hands. I learnt bead making and some other skills after I graduated from school and before I found a job. I started to make the beads but couldn’t sell them because a lot of people, even my friends and family, were already making beads too. I couldn’t sell my beads, but it got me thinking and I finally arrived at the concept of putting the beads on easy-to-wear slippers.

    A lot of people loved the concept but complained about the finish because I initially used roadside shoemakers to help me fix my beautiful knitted beads onto the slippers. But their finishing was poor. So I was encouraged to learn the skill…. And just like that I found my passion in shoemaking. Today I still make shoes with my hands and train people and groups to do the same.

    How did you go about financing your startup?

    I actually started with as little as N8, 000 ($49) cash that I gathered from the sale of cosmetics immediately after my time at the National Youth Service Corp because I hate idleness.

    Who are your customers?

    Middle and upper class men and women; people with a taste for quality and unique products in a variety of designs.

    Describe the potential in Nigeria’s clothing and fashion market.

    Nigerians love fashion and wearing beautiful clothes. Nigerians are always striving to be outstanding and are really good at keeping updated on trends… So with constant and creative work on colour combinations and designs, the fashion industry will never run dry.

     What are some of the biggest challenges you face in business and how do you plan to overcome them?

    Power supply is a big issue but we are overcoming that by using a generator. Another challenge is the constant non-availability of some materials, sometimes when demand is high on a particular product design… I have to tell the clients we may have to alter the materials.

     The best part of being an entrepreneur?

    I am a happy entrepreneur because I love my line of business as a shoemaker. I also have control of my time (even though I work around the clock some days).

    In your opinion, what qualities must an entrepreneur have to be successful in Nigeria?

    Entrepreneurs in Nigeria need to be focused… and passionate about what they do.

     What entrepreneurial qualities come naturally to you?

    The ability to keep on learning, creative thinking and planning, and, of course, being very friendly.

     Do you think more can be done in Nigeria to encourage young entrepreneurs and foster a supportive environment for startups?

    Yeah, sure. A lot should be put in place to assist young entrepreneurs, especially to tackle the high rate of unemployment. Grants and loans should be more readily available to them and, of course, the power supply should be more regular. Also, more forums should be organised for them on entrepreneurial matters to help them improve their business and achieve faster growth.

    Do you have any advice for first time entrepreneurs?

    Put God first, follow your passion only, and be consistent in giving your best. The sky is your starting place and together we will improve our world.

    Culled from how we made it in africa

  • Things successful entrepreneurs do daily

    The most effective entrepreneurs view themselves as assets. They continually invest in themselves and in their future through continuing education and self-improvement.

    If you want to become a better entrepreneur and successfully grow your business, dedicate time and energy to improve your daily habits.

    Here are 15 things many business influencers make time for in their busy schedules.

    • Eat breakfast. To work at your peak performance, your body needs fuel. Rather than just grab a cup of coffee on your way to the office, take a few minutes to eat a meal or drink a protein smoothie — even if it’s on the go.

    • Plan your day. First thing in the morning, look at your calendar and prioritise your schedule. If you work best during a specific time of the day, block out those hours for quiet work time. I do my best work in the mornings, so I try to schedule at least 90 minutes to work on my writing before daily distractions begin. While you’re at it, schedule short breaks throughout the day to eat a healthy snack and keep your energy up.

    • Don’t check email right away. It’s tough not to hop on your smart phone first thing in the morning and see who’s emailed you. Often checking email is a distraction from what you want to focus on early in the day. Try to wait until 9 a.m. or 10 a.m. to check email, after you’ve completed at least one of your critical to-do items. If you’re working on an important project, try not to check your email more than three times a day.

    • Remember your purpose. Take a few moments at the start of each workday to remind yourself of your company’s goals. Think about your core customer and which areas of your business are most profitable. We oftentimes get caught up in the minutia of daily tasks we lose sight of what brings us happiness and profitability.

    • Single-task. We live in a world that praises multi-tasking. Unfortunately, when you have too much going on at once you may become distracted by interruptions and unimportant glitches. To be productive and effective, prioritise, delegate whenever possible and focus.

    • Visualise. It may feel silly, but close your eyes and envision your success. Imagine what you will feel like when you reach your goals. Visualisation is a powerful tool and can help you keep your aspirations at the front of your mind. It might also help to post a picture of what you’d like to accomplish. For example, if you’re interested in taking a trip to Paris, post of photo of the Eiffel Tower on your desk.

    • Say no. Entrepreneurs especially feel pressure to accept every opportunity that comes their way. However, not every opportunity will benefit you or your business. Time is our most valuable commodity. Be selective about what you agree to do.

    •Value your time. Unlike money, time is a non-renewable resource. There’s simply no way to make more of it. Guard your time and spend it doing the most important things for yourself and your company. Avoid distractions whenever possible. Whether you facilitate or attend a meeting, online or in person, get clear about the start and end time. Whenever someone requests a meeting or consultation with you, try asking for the questions in advance so you can do your research ahead of time. This will keep you on time and on task.

    • Delegate. In the early days of my business, I thought I could save money and do everything myself. Then I realized the small, mundane tasks were taking me away from those things that generated the most income for my business. I was on the fast track to burnout. When you become overwhelmed with work or can’t figure out a solution, hire someone to help.

    • Listen. Be present when you speak with a colleague or employee. Take the time to fully understand what the other person is saying. Leaders who listen effectively avoid miscommunications and are less likely to have to ask for clarification later.

    • Show gratitude. Make it a daily habit to sit down and be thankful for all the opportunities you have been given and all the things you’ve accomplished so far. Simply reminding yourself of your past successes will keep you focused, present and productive.

    • Stand up and move around. Did you know sitting is the new smoking? This car-commuting, desk-bound lifestyle can be harmful to your health. Studies show it raises the risk of disability, diabetes, heart disease, certain types of cancer and obesity. No matter when you can make time for it during the day, take a few minutes to stand up and take activity breaks every hour or so. It’s good for your body and mind.