Lessons for the Journey: Ibukun Awosika

It is an act of faith; business is a journey of faith. It is really about if you believe it enough to make a move – Ibukun Awosika

The spouse and family are invaluable support system for any business person. Biblically, a woman can only do all with godly wisdom and prosper when she has the support and encouragement of her husband – Ibukun Awosika

 

Our post last Tuesday generated a lot of questions; majorly questions on how almost all the women in our review of ‘The “girl” Entrepreneurs’ are people who had a rich and happy background. The question then was, how about young women who had rather poor upbringing and no resources or chance to the right connections? To this, I had one answer, we from such backgrounds will still have to follow same principles as we are learning from these women, we might just be slower in achieving our results.

But, I don’t think I’m in the best position to answer that question. I don’t even think the answer I gave is the right answer because after all, I’m in that category and also just taking baby steps. Just like the biblical Elisha, there was an Elijah for him to first learn from. This therefore led me to make 3 decisions:

1.      We are going to have to find a way to bring our very author, Madam Ibukun Awosika in on this. Honestly, I know this is such an audacious dream as she is by far one of the busiest women in Nigeria. But, no matter how long it will take us, we are going to have to find a way to bring her in and help us answer this question. What chances do those not privileged at all have at pursuing their dreams and becoming successful at it?

 

2.      Secondly, we are going to begin scouting for women with such backgrounds. Women who didn’t have these opportunities and had to break free from the very start but are now names to be reckoned with in their respective industries. You and I will go on this search together. We need real struggle and success stories so we can be duly guided on the path to follow and how best to follow it.

3.      Thirdly, we will begin scouting for young men and women around us who are just starting out and have to struggle through. They haven’t established their success stories yet, but they are starting out already; we will find these people and on a weekly basis celebrate and encourage them as our personalities of the week.

So, starting from next Tuesday, we will be taking our journey a step further, we will get more real by recognising even the young and growing entrepreneurs around us, we will build a community and as we proceed in achieving our goals, we will strengthen ourselves along the way. Stay tuned…

To the main business of the day: Our "girl" entrepreneur for today is the queen herself...

NAME: IBUKUN AWOSIKA

BUSINESS: THE CHAIR CENTRE GROUP

POST: GROUP CEO

INDUSTRY: FURNITURE AND SECURITY SYSTEMS

1.      Grew up with an independent mind set, multitasking abilities and a sense of adventure

2.      While growing up, she constantly read books and sat under the inspiring talks of great people and this helped to inspire her towards excellence

3.      Persistently reached for goals she set her mind to achieve, built a network of friends which  she leveraged in starting her business

4.      She presented her first jobs to people who she knew could honestly critic and correct her errors

5.      Her ears were always on ground for the latest news

6.      Starting out, she ensured  she was adequately branded and well packaged such that she could stand side by side with big companies and even attract huge businesses

7.      She also needed funds to start up but as expected, no one wanted to invest in an unknown company and an unknown young girl

8.      For years they still could not afford necessary materials needed for their jobs

9.      The quality of their work eventually paid off as they were eventually noticed for it and they got an investment

10.  Epileptic power supply was a major challenge and it led to frustration but she just had to keep going

11.  A car was not a priority even when business started booming, reinvesting into the business was her priority

12.  Her spouse was fully involved in the decision making of the company

13.  She had set her values from the onset; her company would be one devoid of corruption where there will be no bribery, cheating or helping someone to steal

14.  Whenever there was a problem and other business people panicked, she sought the face of God

15.  She sought help from other people, never for once planned to do it all alone

16.  Started  building a good financial record from the very beginning

17.  Because she had seen the trend that businesses in Nigeria tend to die with their owners, she already started a succession plan

 

Her Advice to us

§  Stay true to yourself and committed to your vision that’s the only thing that will keep you even in the face of challenges

§  The things you seek to do will not always come easy; but you have to learn to fight for the things you believe in

§  You are not an island. There are lots of talented people around you that can help you, treat all well as they can become asset for your success in the place that you least expect

§  It is important as a company to always prepare our hands for opportunities as we never know when they will show up

§  Ensure to build faithful costumer followership and never give up in the face of challenges

§  No matter how successful a woman gets, she should never forget the man will always be the head of the home

§  If you are called to business, once you can identify where the area of your calling is, take it, stick with it and conquer it!

§  Make sure you marry the right kind of person for the vision you have been given

§  Be conscious that no man can do it by himself, you need God!

Now let’s talk!

1.      Honestly, our generation find it difficult to seek information, read or spend to get trainings; we have to be ready to go out, meet people and  network by attending programs where we can meet and learn from great people

2.      Right from start, you need to recognise that our friends and family are our blessings as thy will be there to truthfully critic your work and tell you areas you need to improve upon

3.      Even when we are just starting out, do not carry the mentality of a small struggling business because that is how others will see you. Brand your business; give it a name, an e-mail address, social media accounts and even a website. Build a good brand no matter how small the business is.

4.      Apparently, even if madam Ibukun Awosika didn’t come from a poor home, she still had to source for funds and even struggled for some years as she could not afford the necessary equipment and materials for work but that didn’t stop her, should it then stop us? I don’t think so!

 

5.      Set a standard for quality from the very start and do not compromise that stance, develop and spell out your values system, they will keep you going.

6.      We need to set our priorities right. That you are starting to make some profit doesn’t immediately translate to buying a big car or more clothes. We need to know that for the first years of our business, what we earn should be reinvested into the business

7.      All the women so far have deeply emphasized how the role and place of the spouse is extremely important, don’t joke with it. Involve your spouse in the decision making process of the company.

8.      You need people; you cannot do it all alone.

9.      Build your financial structure from the onset and start planning succession as soon as possible

10.  Your spouse should complement your God given vision, ensure that area is secured.

11.  Ensure God is deeply involved, there will be no success story without Him

We have learnt and we have talked its left to us to work!

So many positive testimonies have been coming in as people have been sending in their business plan drafts, started branding their businesses and started reading books to improve their knowledge and skills. We want to hear more so please keep them coming in.

 Also, start looking out for young entrepreneurs around you; know anyone who is hard working and consistently improving in their businesses tell us and let’s celebrate them because they are our stars already.

You can drop them as comments or send mails to ifealonge@gmail.com.

Till next post friends, keep learning, keep improving, keep moving!

 

 

Lessons for the Journey: Bolanle Austen-Peters

If you are fortunate to come from a background that has provided you with the needed exposure and skills, you have no business staying in paid employment. You need to create jobs for others and not wait to be employed - Bolanle Austen-Peters.

 

 

Questions from Last week:

1.      That lots of people already do what you want to do doesn’t stop you from doing it. As Yorubas will say, the sky is big enough for all of God’s birds to fly.

2.      Entrepreneurship needs education; it is certainly not an option to going to school.

3.      I don’t know of any entrepreneur who has ever said is was all rosy from the very beginning, so I guess saying that the beginning might be a bit rough isn’t totally out of point.

 

Now to business,  Our ‘Girl’ entrepreneur for today is:

NAME: BOLANLE AUSTEN-PETERS
BUSINESS: TERRA KULTURE
POST: MANAGING DIRECTOR
INDUSTRY: ARTS & CULTURE  

                                    

1.      Born into a happy family and had an enjoyable childhood

2.      Was raised to be independent

3.      Worked in a Law firm and then United Nations

4.      Enjoyed her job but still constantly felt restless. Needed to be in a field where she felt more relevant.

5.      She identified a problem; many children were not speaking Nigerian languages.

6.      Proffered a solution by embarking on a project that would focus on teaching Nigerian languages hence, Terra Kulture.

7.      Decided she wanted to create jobs for people and thereby reduce the rate of unemployment in the society.

8.      First thing she did was to have a heart to heart discussion with her husband, needed the support to brave the journey.

9.      Wrote a business plan.

10.  Then sourced for funds.

11.  Invested time and money in learning and reading a lot of books and sourcing information relevant to her field.

12.  She took out about 8 months to set the foundations of her business right; talking to people, learning and setting the right business plan

13.  At the start of every business, one’s personal life suffers, she found a balance.

14.  Greatest challenges for her were the lack of skilled staff and finding investors.

15.  She ensured a strong relationship with God, she prays a lot

16.  Values are: Strong focus, hard work and prayer

17.  Exiting plan already in place i.e. a board is in place, staff are well trained

Her Advice to us:

§  First of all, Be sure of what you want to do

§  Learn the art of patience understanding that Rome was not built in a day.

§  Keep doing what you are doing and stay long enough to become good at it.

§  Learn the mastery of fear, don’t let it stop you.

§  Also, be open to challenges, they will come and go!

 

Now let’s talk…

1.      It’s not circumstances that ignite entrepreneurship; anyone can have a sense of responsibility.

2.      Being provided everything doesn’t mean you should be lazy and complacent, you still need to do things that would change your world

3.      There are still so many problems to be identified in Nigeria, what can you do to solve at least one of them?

4.      The road to entrepreneurship is a daring one; you need a strong support system, especially those of your loved ones.

5.      Write down your business plan, its unavoidable and of utmost importance.

6.      Before you run, you need to first learn to walk, you need to spend money and time on trainings, books etc. that will arm you with the necessary skills you need before stepping out.

7.      Strive to find a balance between your personal life and your business.

8.      It’s important that the team you decide to build and work with believe strongly in your vision

9.      Never joke with the spiritual, that area must be well secured. Despite all our efforts, we all need grace to experience our breakthrough. So, don’t separate God from your business, let Him chair it.

10.  It is important to state clearly your core values, those things that cannot be compromised

11.  Let your business plan include your exit strategy.

 

You know, at the start of this series I made it clear that this isn’t going to be just another session of talking entrepreneurship; that it will most certainly be a journey where together, we will take practical steps into transforming our ideas into a reality.

So, to kick the ball rolling, I ensured I got busy. From Last week’s Mrs Irabor and even Mrs Bolanle Peters who we will learn from today, one thing was greatly emphasised; we need to put our plans into writing. So, I started with writing my structured business plan. I also got talking to people who can help with branding as well as designing a good financial structure.

So yes, I’ve set the pace, I need to hear from you all too. What have you started doing?

In getting practical:

§  Anyone who needs a simple template for drawing up their business plan should just let me know.

§  An entrepreneurship competition/program is currently on going and it’s called; TEEP (Tony Elumelu Entrepreneurship Program). Check out teep.tonyelumelufoundation.org for more info.

Challenge for the week:

§  Share those ideas (big ones) you penned down last week; talk to someone about it

§  Start writing your business plan.

 

Now, you don't want to miss next Tuesday's post, trust me, you don't!

 

 

Lessons for the Journey: Betty Irabor

It is never over for anyone, whenever you wake up is your morning! - Betty Irabor.

 

 

Before delving into what we have for today, I would love to answer some questions that came up from last Tuesday’s post.

Not everyone must be an entrepreneur. It is just always good to have more than on stream of income. So if you can invest in someone else’s business, please do.

Not everyone has to leave their job to develop their passion, it just depends on the kind of passion you have and the kind of job you do. Remember what madam Awosika said, “Having a FULL TIME job and RUNNING a business is like chasing two birds at a time…

Remember, when God has given you beans, it takes you to make it into either moin moin or akara, just make something of it!     

 

We will most certainly not go on without mentioning a thing or two learnt from thestory of our dear Olajumoke/Tybello.

 

 

1.     She wasn’t at home whining, like the biblical Ruth, she was at the point of duty when she met her agent of help.

2.     Did anyone notice how nicely she was dressed? Come on, she was hawking bread, yet dressed like she was going for an occasion. That’s why people could see the modelling in her.

3.     Did you see the way she meticulously arranged her bread? All neatly arranged and looking attractive.

4.     She could have done ‘that other job’ you know, instead she stayed with the decent kind not minding how demeaning it can be.

Here is the thing, God blesses the WORK of our hands; there must be a work. Whatever you find your hands doing, do it well. Be prepared every time, you never know when opportunity will come knocking. And most importantly, stick with DECENT!

Before God brings you the bumper modelling contract, abeg keep selling your bread...

Now, to the main gist of the day…

                                      Our 'girl entrepreneur' for today is:

 

 

NAME: Betty Irabor

BUSINESS: Genevieve Magazine

POST: CEO/Editor-in-Chief

INDUSTRY: Publishing

Her story in Summary:

1.     Always had a passion for the art.

2.     One of the 5 children raised by a single mother.

3.     Like every average Nigerian graduate, she joined the ‘Frank Donga Ministry’ and got jobs, first as a journalist and then as a Public relations/Administration manager.

4.     All the while, never stopped writing; freelanced for Vanguard, This Day, Guardian etc

5.     She did a review of her life at age forty and realized though it had been a good life, her deep set yearnings had still not been met.

6.     To prevent this awakening from fizzling out, she immediately started working on it

7.     Started by creating dummies and showing to friends and family

8.     Had a reason for the name Genevieve

9.     From the onset, the values and principles that would define  and govern te publication were clearly stated

10.   Got a consultant to draw up her business plan immediately

11.    Had increasing passion and firm belief in the success of the publication

12.  Inaugurated a board for the purpose of Checks and Balances

13. Instituted an advisory board and began searching for staff who were vision carriers

14.   One challenge was that she had to develop a template to work with as it was the first of its kind

15.   She had to institute a working solution for some of the challenges ahead; funds, infrastructural deficiencies, inconsistent power supply, circulation and marketing etc.

16.  One major mistake was not drawing a financial structure from start, led to losses in the first 2 years. She then employed a financial manager.

17.  Carried her husband and family along so she got their undiluted support

18.   A staunch believer in God

19.  Her plan is to build an empire that will outlive her thus; she already has in place, a handover strategy for continuity.

 

Now let’s talk!

§  There’s something inseparable about passion and career

§  Family background doesn’t matter at all in pursuing your dreams

§  Madam Betty started out as ordinary as You and I

§  Never stopped fanning her passion

§  It’s never too late to take a hold of your life and make something beautiful out of those inner yearnings you have

§  You need to START!

§  Have a reason for every step you take in  your business especially the name it goes by

§  Set up your values and principles, draw up your business plan (ask someone to help if you cant yourself), have people you can report to and build a financial structure from start

§  Lack of funds is never a reason not to start, start small, start with dummies, just start!

§  Carry your family and friends along, you need that support system (especially for days when things won’t go so well)

§  Nothing replaces the place of God

§  When planning, plan with the future in mind

§  Start planning your handover. Ask yourself, what will happen if I’m no longer here to handle this?

This week, I challenge you to:

Sit and think about something, a talent or skill that you have in you and then write it down. It doesn’t have to be organised or structured, just write it as it comes to your head. You can drop them in the comment box, who knows, someone might have something to say about it.

Keep your fingers crossed till next Tuesday hunnies, when we will again sit and learn from another exemplary woman of worth.