Royal ToothPick - Amadin Ogbebor

We can either complain endlessly about how Nigeria is behind and in a recession or we can decide to tackle one problem at a time. 

I remember when I saw the list of items banned by the CBN from accessing forex for imports, toothpicks jumped at me! I was like what! How hard can making toothpicks be. Why o why must we just resort to importing everything and anything. While we were out discussing it though, some were working ... :-)

People like Amadin Ogbebor. Imagine my excitement when I saw a facebook post about someone manufacturing toothpicks. I hunted him down to hear this story (Okay, hunt is an exaggeration, lol) but hey, it makes the story sweeter... hehe.

Enjoy.

Tell us about yourself

My name is Amadin Ogbebor, I studied mechanical Engineering at Ahmadu Bello University. I have always enjoyed designing and building things.

When I was in secondary school I had a fan that the plug was always getting bad so I made a new one using nails, melted nylon bags and wires. Using a match box as the mould. I never had a plug problem with that fan again.

Tell us about your business 

I manufacture toothpicks from bamboo

How did you get funding for your business?

I got funding through personal savings and loan from the U.S. I am fortunate to have lived in the United States so I had access to some funds.

What opportunities have you been able to leverage on in your business so far?

I was able to network with some people that had one time done the business most of them were not helpful but I managed to get a few information here and there. But there is really no mentoring system that I could draw from and most people where looking out for themselves.

What was your inspiration for starting this business?

I had tried doing other businesses but I didn't really enjoy them, so I had to ask myself what do u really enjoy and I said making things so I decided to go into manufacturing. Initially I wanted to go into nail manufacturing then I heard the CBN Governor on radio saying we import all our toothpicks I decided it wasn't right so I researched the manufacturing process and decided to go into toothpick production instead.

What Challenges have you faced so far and how have you been able to overcome them?

My biggest problem was lack of funds, then the machines I got from China had problems which took me a few months to figure it out thanks to my mechanical engineering background. Then figuring out the process of manufacturing the toothpick. 

The first set I tried introducing into the market was rejected because of the quality so I went back to the drawing board and came out with an improved quality. Because I had mechanical problems with the machines it helped me understand the principles of the working of the machine that when I am going to expand manufacturing I intend to design and fabricate my machines here in Nigeria.

How will you summarize the journey so far?

The journey so far was mentally and physically challenging but I had a goal which I never took my eyes off no matter how much failures I encountered I kept celebrating the wins no matter how small.

Given the Chance, will you do this again?

Yes I will.

What lessons have you been able to learn from your journey so far that others should know?

Have a dream or vision but know that life will throw every obstacle your way but you should just keep going and you will be rewarded. Nothing good comes easy.

How can people connect with you?

Facebook -  Amadi Ogbebor 

Phone -   0909 863 4259

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Nigeria: Boys are not smiling

Hi guys. I have been scarce and the reason is captured in the title above.

I was at a seminar recently on a panel session talking about how capital is not really the main challenge in starting a business (and it is not, I still insist). Anyways, some man from the audience almost got on the stage to beat me up, I am exaggerating a bit though, but he was very angry, Lol! Of course, I am not that insensitive, we are all in this Nigeria together, so I can understand the frustration.

Over time, I have come to realize that entrepreneurship is not for everybody, to be honest. As much as we promote entrepreneurship and glamorize it, it is not a walk in the park anywhere in the world, not to talk of Nigeria… hmmm! I have recently decided; we cannot continue to have these entrepreneurship conversations, without tackling issues of the environment we operate in.

Let’s face it; the operating environment of a business affects its success either positively or negatively. You can have all the grand ideas and be resilient as ever; if the environment stifles you, you can’t sustain it. This is not to say that nobody can be successful in a hostile environment, after all some billionaires of the world today emerged during the greatest recessions and some others in the midst of war.  Besides, as I type this, someone is just dedicating a new house or cruising a brand new car from legit business, in this same Nigeria (They should come and tell me how o, lol).

I am not a politician, but I can see that things are indeed rough right now in Nigeria. What makes it worse is, we don’t even know what the plans are to alleviate the struggle, if any. Ladies and gentlemen, I cannot be pushing people to go into entrepreneurship, without at least doing something to address these issues.  Every little drop counts.

This is why I was excited to see the vision and mission of the column, an editorial aimed at drawing out solutions to our country’s challenges. As part of her launch activities, the COLUMN is calling for entries from Nigerians to identify what our greatest challenges are and proffer solutions on how to address them, one challenge at a time.

We have too many brilliant Nigerians (I know a lot), for us to be struggling for air like this! Haba!

Someone reached out to me when I posted the release yesterday and said, Sade don’t you think religion should be on this list.

What do you think?

Nigeria: Floating Forex Model and the Way Forward

If you are Nigerian and live in Nigeria, but think that everything happening in the economy does not concern you, think again. I am not asking you to become an economist or activist overnight, but if we must progress as a nation, all hands need to be on deck. We need to discuss the issues with a view to find solutions.

I remember when the floating forex policy was announced, Femi (you'll meet him in a minute) said to me, this is not the solution. I was looking at him like a pessimist at the time, until the dollar started to become scarce again! See yawa. What are we going to do ooo... people! Lol. 

With all the brilliant people we have in this country, surely we can come up with solutions. By the time we challenge ourselves and drive discussions that help us think, I am hopeful that we will find a way out of the myriad of problems our Facebook commentators remind us of daily (as if we do not know already! shio).

Enough with the highlighting and amplifying of the issues. We need a plan and we need it fast! Femi has come on board to take us through from the root of the matter. He is not an economist neither am I, you know this already :-), but Femi is one of those efikos that like to read and follow trends in economics and politics. He's not here to force his opinion down our throats, but to start conversations that will lead somewhere.

I want to read your thoughts, whether you agree or disagree. Let's start this journey to solutions for Nigeria.

Cheers!

The Genesis......

(This article has condensed reasoned economic structures without boring with percentages and theoretical jargons which often make the broth too thick for ease of consumption)

The CBN’s announcement of a floating foreign exchange model was wildly welcomed in many circles and heralded as the panacea to all our economic woes. The apex bank was hailed for such an obvious and ingenious approach to solving a critical problem. To be fair to the CBN in the light of the prevailing challenges, this policy stance made sense on first look.

However, a deeper look revealed that the floating exchange model was just a mild alternative for forced devaluation. Now while devaluation is not bad in and of itself, such monetary policy positions must be weighed against the realities and conditions required to benefit the economy in both the short term and the long term. 

Devaluation is an economic monetary tool used to “officially lower the value of a country’s currency within a fixed exchange rate system relative to another currency, or group of currencies”. Significantly, this tool is used as a measure of achieving a favorable balance of trade by a country as it favors increased local production capacity for exports and self-sustenance and reduce dependence on imports through an attendant increase in cost of importation.

At the time of the announced floating exchange model, the country was experiencing very challenging circumstances ditto  

- Reduced revenue from crude earnings due to falling oil prices

- Failing and non-existent infrastructure

- Fleeing FDI and FPI  against a backlog of dollar transaction payments

- CBN’s curious monetary policies and summersaults

- Insecurities in various regions of the country

- Budget implementation merry-go-round/ stalemate

- Targeted speculative forex transactions

- Rising unemployment

- War against corruption (which was apparently fighting back) 

- and a generally deteriorating standard of living across the country.

It becomes clearer therefore that inflation was only going up, unemployment will increase and recession becomes prescient. Furthermore, it becomes extremely disingenuous for an import based economy to pursue the path of asura (devaluation) in such testing circumstances to provide temporary reprieve to meet short term dollar mandates, in the hope of successful appeals for FDI and favorable loans. The long term repercussions are devastating.

First off, for devaluation to work we must have an export based structure or provide such environments and incentives as to encourage local production and use of local alternatives to meet local demands for self-sufficiency. In the absence of these foundations, the spectra of recession stretches towards the gloom of depression. 

The much vaunted market forces which would determine the “real” value of the Naira are painfully skewed against any immediate or long term benefit to the people. Further, the anomaly called the BDC would only continue to strain the Naira as it is unfortunately worryingly dependent on speculative valuation. Thus, as the interbank rate seeks to find a balance (whilst dancing to the rhythm of the phantom market forces) and inches towards it, the parallel market will pull away (the clue is in the word “parallel”) further due to the vagaries of demand outstripping supply, remittance constraints and arbitrage. The utopian hope of market forces quickly turns into shades of dystopian nightmares in an import based, revenue starved and recession sunk economy. 

Given that the only way out of a recession (and depression) is massive government spending, it mocks reason to assume that a limp currency would offer any succor. Thus our current reality is reduced purchasing power of the naira, increased cost of goods and a further impoverished standard of living. While the obvious is that your naira can acquire less, the dollar cannot purchase more since the market of source is still external. Therefore, the vicious cycle of continued devaluation, depreciation and recession creates a binding economic vortex with attendant sickening existential vertigo.

However, our current plight also offers some hope if properly managed. To do this we must 

• Abandon the fixation on floating or micromanaged forex and create policies and structures geared towards laying the foundation for self-sustenance and growth. In this belly of the beast which we find ourselves, government and regulatory authorities need to bite the bullet and address the issues head on. 
• Empower the alternatives and grow local capacity even at a deficit budgetary structure as increased cost of importation will ultimately lead to pursuit of alternatives. 
• Also, the mythical salvation by FDI (Foreign Direct Investment) needs to be addressed. With woeful ratings on ease of doing business, infrastructure availability and policy inconsistencies, this is not a surprise. However, these issues should be addressed immediately to create a welcoming environment and further garnished with appropriate incentives (tax breaks, access to funds etc.) to encourage investment. It should be noted that the above should apply to all businesses in the country and not the exclusive of some or patronizing FDIs. 
• The monetary policy oversight and regulatory body(s) should deploy a low interest scheme attached directly to infrastructure development and SME growth. While the previous arguments have been about increased liquidity leading to inflation, the structure should be to attach same facilities to managed support schemes. 
• Government stimulation, with fiscal policies, gross spending and appropriate monetary policies would ease us out of the current shadows. 

Ultimately, if this is properly pursued, our dependence on foreign imports and single source revenue will reduce and we can begin to tap into, exploit and enjoy the wealth we have been blessed with in resources, people and intelligence.

What are your thoughts on this? We would love to hear from you.

Femi Onakanren,

Director Eigenvalue Nigeria Ltd (Business Solutions Providers & Policy Analysts)
Developers of tagChief® Mobile Application and Enterprise Solution & StartRight Entrepreneur Boot Camp

ASSETS and Bellafricana SME Export Workshop

African Sustainable SME Export Trade Solutions (ASSETS) and Bellafricana present Repositioning Nigerian SMEs As A Catalyst To Achieve Rapid, Sustainable Growth In The Non-Oil Export Sector.

Have you ever asked yourself any of these questions?

• Can SMEs become major players in the non-oil export value chain?
• Should my company get involved in export?
• How do I know if my product is export ready?
• If I don’t have a product yet what can I do?
• If I am a marketer can I get involved in export?
• Should I switch from import to export?

If you want answers to any of these questions, then you don’t want to miss a golden opportunity at the SME Export Workshop to get practical, down to earth answers to these and many other questions. You will also get the latest information about new incentives and critical issues affecting the non-oil export sector in Nigeria.


ASSETS and Bellafricana SME Export Workshop

WHERE?

At a special workshop to prepare SMEs for opportunities and challenges in the non-oil export sector at Four Points by Sheraton Hotel, Victoria Island, Lagos.

WHEN?

Wednesday 29th June 2016 from 9am – 5pm (Registration commences at 8.30am)

WHAT DOES IT COST?

Early bird fee: ₦12,000 (If payment is made on or before 17th of June)
Fee: ₦15,000 (After 17th of June till 27th of June, subject to availability of space)

HOW TO PAY:

Make payment to Bellafricana, Zenith Bank, Account Number 1013734944

Use your company name as reference. Once payment is made kindly scan deposit slip or proof of transfer to info@bellafricana.com, cc: smeexportsolutions@gmail.com with name and phone number.

TO REGISTER: Go to export.bellafricana.com

CONTACT NUMBER:

For sponsorship and more information, call Bukky on 08086363970

Participants will also benefit from the following:

Presentation on the NEXIM Non-oil export Stimulation Facility and other Export financing packages

Information about market access programmes including:

• ECOWAS Trade Liberalisation Scheme (ETLS) and ECOBIZ
• USA – African Growth and Opportunity Act (AGOA)
• European Union – EU Export Helpdesk and EPA

Assessment of Samples:

(One product per participant) and contact with officials from Government and International development agencies who will highlight the special facilities assistance and training available for Nigerian export-oriented SME producers and marketers.

Presentations that will cover:

1. The importance of market entry requirements and specifications
2. Quality Assurance/Control,
3. Certification,
4. Packaging and Labelling,
5. Costing and Pricing,
6. Non-tariff Barriers,
7. Phytosanitary Issues,
8. Use of social media and ICT as platforms to promote and export products made by Nigerian SMEs.

WORKSHOP COORDINATOR: Ms Shade Bembatoum-Young, CEO African Sustainable SME Export Trade Solutions (ASSETS)

The Excellence in Life series 2.0 is happening this Saturday

The current state of our nation leaves much to  desired. From the plunging Economy to insecurity. The masses are wailing and the rich also cry. From the constant decline of the value of the Naira to the hike in fuel prices which has catapulted inflation and taken it to an all time high, the common Nigerians have had to bear the brunt! 

It is quite convenient to heap the bulk of blame on the government as usual but truth be told the citizens are equally accountable. 

One major syndrome that has eaten deep into the fabric of our society is MEDIOCRITY and it is responsible for most of the pains we suffer today. We did not get to where we are in one day. It was a gradual process of letting mediocrity get the better of us and today it has become gangrenous thus becoming an uphill task to mitigate against. 

“I will mange it”, “It’s not so bad”, “It’s fair enough” “What more can I do” “I have tried, jare” “I can’t kill myself joorrr”… are very familiar expressions, aren’t they? We either encounter or even pronounce them ourselves regularly. What belies these otherwise insouciant and unperturbed proclamations is the syndrome called MEDIOCRITY!

Mediocrity is clearly a negative trait we should avoid like a plague. If you do not actively REJECT mediocrity, you are unwittingly choosing it over EXCELLENCE and will be running life’s relay littered with broken dreams and failed expectations and at the end of the finishing line you will be crowned with frustrations and unhappiness. 

Everywhere you go to today, across our beloved country Nigeria, mediocrity and impunity stare you in the face.  This sad development which pervades most facets of our national and private lives has now become a Sub-Culture. This also explains why most Nigerians prefer foreign products to Made-In-Nigeria ones, irrespective of price.  The reason for this is that the production of most foreign goods are driven by a Culture of Excellence.

Thankfully many Nigerians have taken the bull by the horn and have gone all out on the fight against mediocrity. One of such Nigerians is Dr. Femi Paul. 

Dr. Femi Paul, a Lawyer by profession, is the Senior Pastor of Grace Assembly Churches, Lagos. He attended the University of Ife, now Obafemi Awolowo University, where he obtained a Bachelor’s Degree in Law. He later went on to the University of London for two Masters Degrees in Shipping Law and Intellectual Property. He is also a certified graduate of the Oxford Princeton School of Petroleum Studies.  He practiced law in Lagos for many years, before moving into the Shipping & Maritime Industry.  His last foray in secular business was into the Oil & Gas Industry, after which he settled into full time ministry in 2001.

Dr. Femi Paul has delivered various papers, keynotes and workshops on Excellence In Life at several organizations, institutions and conferences around the world.  In 2015, he was honored with a Doctorate Degree by Northwestern Christian University for his excellent contribution towards Christian Education. He is also a pastor and the founder of Grace Assembly Church, a ministry committed to inspiring people and transforming lives.  

Dr. Femi Paul is mostly known for his exceptional “Spirit and Lifestyle of Excellence”. This has earned him many accolades and also inspired him to birth the vision “Life Class with Femi Paul”, and also the Excellence-In-Life Series where he shares Life Transforming Principles that shaped his life. 

Dr. Femi Paul is the Convener of the EXCELLENCE-IN-LIFE SERIES, a National Transformation Initiative aimed at eradicating the prevalent culture of mediocrity in our society. According to Dr. Femi Paul, "It is in my patriotic quest to salvage our country, build a culture of excellence and leave a lasting legacy for future generations that I present to you, THE EXCELLENCE IN LIFE SERIES!"

The EXCELLENCE IN LIFE SERIES, a bi-monthly meeting is the tool by which the visionary, Dr. Femi Paul hopes to eradicate the prevalent Culture of Mediocrity and propagate in its place, the much needed Culture of Excellence.  This initiative promises to transform mindsets and inevitably optimize the potential of individuals, institutions and the nation alike.

Excellence-In-Life, is not another Certification Course, because when it comes to Excellence, you don’t tender certificates.  Excellence is simply about doing things well, and it is WAR AGAINST MEDIOCRITY!

 

Due to his passion for eradicating mediocrity and extolling the spirit of Excellence, Pastor Femi Paul has made The Excellence in Life Series a Bi- Monthly event featuring world class speakers. The next one holds this Saturday the 21st of May 2016 and speakers like Ibukun Awosika, the Chairman of First Bank PLC and Mrs Bukky George of the Health Plus Pharmacy chains will be some of those imparting the wealth of knowledge and experience in many Nigerian who will be attending.

Join in the WAR AGAINST MEDIOCRITY!

EVENT: Success Circle Africa Conference 2016

Success circle Africa has been conceived as a platform to spread the empowering message of what true entrepreneurship is and not just share the motivational success stories but also show practical ways to create a thriving African business enterprise that would contribute real value to the local and global economy.

THEME : INNOVATION & COLLABORATION AS CATALYSTS FOR GROWTH IN AFRICAN BUSINESSES
Our goal through success circle Africa is to spread our message of value driven entrepreneurship across multiple platforms using real media, community groups and social media as drivers of this message of change and transformation to enterprises in Africa.

Our annual conference would be our yearly gathering to bring together a community of aspiring and established entrepreneurs around the African continent to reinforce this message and celebrate the success stories of triumph and accomplishments against all odds.

The Details of the event;

Date: 26th May 2015
Location: The Wheatbaker Hotel, 4 Onitolo (Lawrence road) Ikoyi
Event Start up Time: 10am

Confirmed speakers Include;

Mr James Agada; CEO, Computer Warehouse group, 

Mrs Audrey Joe-Ezeigbo; Co-founder, Falcon Group, 

Dr Enase Okonedo; Dean Of the Lagos Business School, 

Mr Michael Owolabi; Md Il Bagno, 

Mr Wole Faroun; Md Webmallng and many more.

We believe in the abundance of potential in Africa and for many, this conference and platform would be the necessary thrust for them to proceed in taking their business to the next level.

'Tale Alimi, Convener

ABARI Bamboo sunglasses - Abari Abdulhamid Damilola #inthespiritofenterprise

Who would have thought, all that bamboo growing all over our land could be used to create really cool stuff. A few weeks back I read a feature on digest.bellafricana.com about a Ghanian lady who makes bicycles with bamboo and I was wowed.

Fast forward a few days and voila, bamboo again, but this time by a Nigerian making the coolest sunshades ever! You have got to read about him, and I agree with him, "Obe to dun, owo lo pa". Read the main story to find the translation ... lol

Enjoy.


Tell us about yourself

My name is Abari Abdulhamid Damilola, 27 year old (6th March 1989), from Lagos State, Nigeria. I am the first son and child of my Parent, and I have 3siblings. I am a graduate of Igbinedion University Okada, where I majored in Mechanical Engineering and I am currently pursing my MSc in Process Safety and Loss Prevention from University of Sheffield, UK.

I’m a typical Lagosian, born to hustle (legit), Engineering is my first love before I found business as my side chick, both of which complement each other, “Production and Management wise”, I am very versatile in my thinking and always wanting to solve problems, while I’m doing that I try to increase my source of income to become financially independent.

My Life philosophy : No body gets lucky unless they take the opportunities that come their way.

Tell us about your business

Business Name: ABARI Bamboo sunglasses

Started : January 2016

Why: Alternative to plastic sunglasses whose durability is not compared to Bamboo frame sunglasses

Information About the frames

THE FRAMES MODEL

CREAMIE MODEL
The Creamie model are made from ecological bamboo which is the original colour of the bamboo. This sunglasses are eco-friendly, water resistant, that float on water and Non-slippery when sweating unlike the plastic frame glasses.

They come with Wayfarer style, TAC polarized lenses providing full sun protection for your eyes from UV rays and strengthened flex-steel hinges.

COFFEE BROWN MODEL
Coffee model bamboo sunglasses are eco-friendly, look awesome, and they float on water. non-slippery when sweating and more reliable than the plastic frames.
They come in a Wayfarer style shape and suits most face notwithstanding the size of face

ACCESSORIES
Each pair comes in a hard bamboo case with a silk lens cloth, silk bag and a little gift.

LENSES
TAC (Tri Acetate Cellulose) polarized lenses offer superior visual and polarization clarity. They are hard coated to resist scratching and block out 100% of all harmful UV rays up to 400 nanometers, and are also lightweight and highly impact resistant.

LENS COLOURS
Available in Blue and Green, black other colours are coming out soon

What was your inspiration for starting this business?

I wanted to stand out from the crowd...as far as nigeria is concerned, I think I am one of the first to venture in this line...I have seen a few people also in the field of sunglasses but not with bamboo frames.

How did you get funding for your business?

Basically its been from my pocket, my savings from my previous jobs

What opportunities have you been able to leverage on in your business so far?

None yet as I have been running on my on resources, also the fact I am not presently in Nigeria as I am doing my Masters degree abroad.

What Challenges have you faced so far and how have you been able to overcome them?

Convincing people that the prize justifies the product...people expect me to sell as the same rate as the once on the street but as the adage goes

...a pot of soup that is sweet..the money involved is what "killed" it.

I am of the opinion if you can afford to buy a fake at 7000 naira then buying an original at 10000 naira is not too wide for a range.

How will you summarize the journey so far?

Challenging...mixing studies and business is two tasking but i'm still young and have got the ability to multitask.

Given the Chance, will you do this again?

Over and over again, infact I should have started earlier before the fake sunglasses flooded the market, with people thinking they are wearing the real deal... An average RayBan cost between $100-300 and what is sold in Nigeria is less than $5...

What lessons have you been able to learn from your journey so far that others should know.

When you try to solve a problem you can create a business out of it.

Everybody wants to wear sunglasses but people don't know the consequence of wearing a FAKE lens which is what is rampant in Nigeria.

Abari Sunglasses has a C.E and the lens are certified to protect from UV rays that has the potential to destroy human sights.

How can people connect with you

Contact details
Email: abaritm@yahoo.com
Instagram: @abaritm
Twitter:@abaritm

FoodConvee - Tele Ogundipe #inthespiritofenterprise

Once in a while, you just want to be treated to a good meal of "swallow" as we like to call it, paired with a correct Nigerian soup that has all the different types of meat and some snails. I know we are all claiming "fitfam" these days, but hey no harm in a good home cooked Nigerian meal. The challenge many of us have though is the time! Oh la la. Boy does it take time to put the soups together. Even tougher sometimes is getting the seasoning mix right, so you don't end up eating bland food or over seasoned food.

Our feature today is a woman who saw these challenges and decided to tackle them head on. In 15minutes or less you can have your Egusi or Ogbono ready to eat by just adding water and Palm Oil! How cool is that? Let's meet her...

Enjoy!

Tell us about yourself

My name is Tele Ogundipe. I have a Bachelors degree in Agriculture from Obafemi Awolowo university, Ile ife. I also have an MBA from Esut Business School. I have attended the School of entrepreneurship, (Edc) Pan Atlantic university.

Life is neither a tempest nor is it a midnight summer's dream. Every disappointment is a blessing in disguise.

Tell us about your business

Foodconvee is into the Processing of local food items for easy cooking with no preservatives.

What was your inspiration for starting this business?
Several reasons.
I observed that these days cooking is quite a chore due to hectic work life . Hence the resort to Asian easy to prepare and tasty Noddles. I believe in Nigeria and therefore decided to put Nigerian difficult to cook soups together. Process with spices for easy cooking and awesome taste.

How did you get funding for your business?

Initially savings, family and friends. I recently took a soft bank loan.

What opportunities have you been able to leverage on in your business so far?

I have had access to trainings and seminars from EDC, Google, Poize media Association. I am also a beneficiary of the Technology incubation Centre and manufacturers association. I have had Food Processing trainings with the Nigerian stored products research institute.

What Challenges have you faced so far and how have you been able to overcome them?

I have faced lots of challenges especially in terms of product acceptance. Being a new and unknown product consumers are a bit hesitant. But once the product is tested the feedback is always positive.

How will you summarize the journey so far?

The journey has been slow but steady

Given the Chance, will you do this again?

Yes

What lessons have you been able to learn from your journey so far that others should know.

Never give up on your dreams. The journey may be slow and long, filled with so many obstacles. But with persistent patience your are sure to make it to the end, the finish line.

How can people connect with you

Foodconvee. Com.ng, Facebook, Twitter.
017907615, 08140892759, 08173601628

Gbedion - Afe Riches Inegbedion #inthespiritofenterprise

Hey fam...

Been a minute. I have been all over the place. If you follow me on instagram @mofolusade  you would already have an idea. Besides.... Omo meeen, you need some extra gangster strength and determination to keep going in this Nigeria, can I get a witness out there! But we must not give up because tough times never last but tough people do as Robert Schuller said.

Most of the conversations I have been in lately have been around collaboration. The era of one man squads is no more the way, people must come together and build businesses that will last. This is why I was excited when I heard about this idea. Technology has opened up a lot of new opportunities and platforms for us and we need to take advantage. If you have an idea, don't keep it to yourself, look for a co-founder who has what you don't have. There are many ways to find that person and here's one real life example below;

That's one way and Afe has another way and he shares his journey with us in today's #inthespiritofenterprise post.

Enjoy.

Tell us about yourself

My name is Afe Riches Inegbedion. I am from Edo State but I am based in Lagos. I studied Industrial Mathematics at the University of Benin, Benin City. I also have a Masters degree in Information Systems Management from the University of Greenwich, London. My philosophy is that there is always a better way to do something. You just have to think hard and observe out.

Tell us about your business

The business Gbedion came to be in February 2016 but the concept was conceived in 2012. Gbedion was founded because Nigerians are hard working and have a lot of good ideas but most of them do not have a means to fund their ideas.

Currently getting a loan from the bank is not easy. They ask for so much detail, collateral and give high interest interest rates. This makes a lot of people give up their ideas. There is also the issue of validating your ideas. Will people like it? Will they pay for it? Gbedion gives you the opportunity to see if people believe in your project enough to donate their hard earned money towards it. That is enough validation in my book. I experienced funding issues too and thought about it. Why not solve the problem instead of complaining about it and hence Gbedion came to be. 

Gbedion is a social crowdfunding platform for Africans. In simple words you can post your inspiring business plans on Gbedion and state how much you need, share to family and friends and receive donations from all of them and more. No interest , no loans. All you need to give them is a reward that is related to your proposed business.

For example you want to start a unique car wash business, you have drawn your business plan, you know how much you need and how to execute it. All you need is funding. This is where Gbedion comes in, fill the form, get an invite from Gbedion, post your business plan, offer rewards to donors (for example donate N1000 and get one free car wash), reach your stated funding amount and Gbedion will give you the donated about. All transactions will be displayed on the website for transparency.

What was your inspiration for starting this business?

I started this business because of the personal frustration I faced in bringing my business idea to life. I also have a lot of friends and relatives that have wonderful ideas that they would like to bring to life but funding is an issue. This is why I founded Gbedion, to change the situation and encourage entrepreneurs to start businesses.

How did you get funding for your business?

I got funding for my project through personal savings. Funding is still needed however, to make it grow.

What opportunities have you been able to leverage on in your business so far?

I am currently discussing with Hubbub Foundation (a crowdfunding foundation in London, Boston and Sydney). They are interested in the project. I am looking forward to getting assistance from them.

What Challenges have you faced so far and how have you been able to overcome them?

Setting up and growing our customer base has been challenging but we are moving forward.
I've faced several challenges while trying to start Gbedion. 

1) The idea: 

Many people said it won't work. There are too many scams in Nigeria and so on. I came to realize that scams exist every where not just in Nigeria. People try to scam themselves in a lot of businesses. Why should I stop for the fear of scams when it exists in every other business. Tackling it is the way forward.

2) Branching out: 

The other issue was people will steal your idea; do not tell anyone. You cannot execute a large business plan on your own, you need people but you have to share your idea so people can assist you make it happen. 

I believe an idea has no value on its own. It needs a good execution and for a business to be successful it needs a combination of a good idea and a good execution. If someone tries to steal your idea. He /she only has the idea, how it is executed will certainly be different from yours. I hope the lovely people with wonderful ideas in Africa realize this and stop being afraid to post their business plans on Gbedion for fear of their ideas being stolen.

3) Funding: 

Funny enough this was also an issue for me. Gbedion was supposed to be an app but the cost of building an app is incredibly high. Hence Gbedion was launched as a web platform instead. Which I feel is an advantage because it is easily accessible to anyone that has an internet connection and a browsing device.

How will you summarize the journey so far?

Wow the journey so far has been enjoyable, frustrating and stressful. From brain storming the idea, carrying out research, reaching out to people, raising funds, getting turned down by a lot of people that think you just want to collect money from them. Its been an eventful journey.

Given the Chance, will you do this again?
Definitely, I will do it again. There is joy in bringing your idea to life and watching it grow.

What lessons have you been able to learn from your journey so far that others should know.

• Believe and be passionate about your idea. People will turn you down but when they begin to see how serious you are, the progress you have made and your consistency. They will begin to believe in your idea too and join you to make it happen. 
• Validate your business idea at a low level first. It has to work on a small scale for it to also work on a large scale. Do this and you will not waste your resources.

The business itself has evolved over time. It started out in 2012 as Riap.biz. I do not run riap.biz anymore. It was a website where people could show case their work to the world for recognition. The crowdfunding idea had not come to be then.

How can people connect with you

Visit Gbedion website: http://www.tippinternational.com/ . 

Facebook: https://www.facebook.com/gbedion/ 

Phone No: 08171067640
Office Address: 61 Akeju Street, Off Shipeolu, Palmgrove. Lagos.