Stories That Touch: "From Serial Entrepreneur to Serial Debtor"

 

Tell us your first experience with making money

Well, I used to take a lot of contrabands such as sweets and chocolates to my secondary boarding school. I noticed my dorm mates weren’t good at sneaking theirs in. Hence, they would result in begging from me. So, I started offering it to them at a price and they jumped at the offer. That’s how I got the nickname Contra Mama. I became the go-to for contrabands and I made sweet money from it. I was selling an item for over double the price of the initial cost.

Impressive! So was that when you decided to be a Business Owner

No, I wanted to be a Lawyer. I studied law at the University of Lagos. However, right from year one, I was into one business or the other. I always took advantage of my environment and created opportunities for them.

Do you think it has anything to do with how you were raised?

Hmmm! That’s very possible. My mum is a Medical Laboratory Scientist but she runs a SuperMart. Thinking back now, I think my mum has dived into several businesses. I remember her selling gold, fabrics and even paint at different times. So maybe you’re right, she may have had an impact on me.

Now, let’s talk about running a business while being a Law Student. How was that?

I actually ran 3 businesses.

What!!!

*laughs, Yes. I sold wigs, jewelry, shoes and bags. That’s 4 businesses actually. 

Well, it was pretty easy for me. I had a lot of referrals and made use of social media to promote my business as well. I did that till I graduated. My business was doing so well that I decided to skip Law School and focus solely on being an entrepreneur. If only I knew, I’d have chosen differently.

Really?! What makes you say that?

Well, I guess it was pretty much a lack of information on my part or maybe I knew and I just chose to ignore it.  My business was doing so well; I never thought about saving. So I always reinvested the money into the business or used the profits on funding my baby girl  lifestyle.

Sometime last year, I made a huge purchase of human hair from China. However, I got scammed and I lost a lot of money. It’s been difficult to bounce back as I have no savings. I had to borrow money from friends and family to pay my customers who made early payments for preorders.

That’s sad to hear. What’s the next step for you?

Well, first I have to settle all my debts. I’m running sales so I can make some money selling off some old wares.

My elder sister already promised to support me with capital to reorder the goods. So, I'm going to start my business again. 

What do you plan to do differently this time?

It’s a case of once bitten, twice shy. This time around, I’m saving as I’m making a profit. I can’t afford to let what happened repeat itself. 

I already opened a LifeTime Savings plan with Enterprise Life. I’m really excited to get back to my regular way of doing business.

 

 

 

The Business Side of Life

Speed and Execution is the currency - Ayo Akinola

We are Enterprise Life and we are pleased to present to you the latest episode of our podcast- This is Life.

On our latest episode, industry professionals discuss life, relationships and mentoring in the corporate sector.

Our host, actor and presenter Akah Nnani gets serious with Dr. Chinonso Egemba aka Aproko Doctor, Ayo Akinola, Ejiro Kunle-Hassan and Bukky Akomolafe as they discuss mentorships, practicality and relationships in the corporate space.

Listen to medical doctor and educator, Chinonso Egemba, popularly known by his online moniker: Aproko Doctor, as he speaks on navigating his novel field, why practicality works better than theories, the dangers of bad bedside manners and the edge corporate life gave him in his creative endeavours.

Hear the Head of Business Development at Piggyvest, Ayo Akinola, give a candid take on leaders outgrowing their company and the progressive work culture of Piggyvest.

The Tech Entrepreneur engages us on how he manages to balance work so it doesn’t spill into his personal life and the effects of work culture on a personal brand. He also discusses his transition from mentee to mentor as well as his secret hack to levelling up.

We are treated to an insider’s view of Oil and Gas as Ejiro Kunle-Hassan, a young expert speaks on avoiding the pitfalls of being mediocre and why result-oriented people make the most success. She then explores why she has a work persona, why her skill set and knowledge are her most useful tools and learning the unwritten rules of the workplace.

Finally, we have Bukky Akomolafe, the Country Manager for Travelstart, who relates her love for growing companies with her beliefs on why the next generation of Nigerian Corporates would change the workplace.

She also debunks the notion of the laid back Nigerian youth, while touching on the evolution of personal brand for the modern corporate space plus the need to always perform.

Our two female panellists shed light on the pressure of appearances of women in the corporate sector, inappropriate workplace interactions, and how they stay true to their brand while putting their best foot forward.

Our guests who have excelled in their chosen fields touch on the very vital topic of mentors versus sponsors, a topic which corporates would find useful and applicable as they scale up the work ladder.

What is the difference between a role model, a sponsor, and a mentor?

Listen to the full podcast here: https://bit.ly/3AhMVIc