Read experiences of those who started & survived in business

By Jennifer Okundia

Pistis hub, Maryland, Lagos was packed with over 200 attendees for the Founders Conference that held in commemoration of the Independence day on tuesday, October 1st 2019. The event is a gathering of entrepreneurs, business owners, corporate executives and many others, with an aim to help N1,500 businesses and Startups scale up their growth this year.

Some of the speakers who spoke during the program include: Austin Okere – founder, CWG Plc, Femi Akintunde – CEO Alpha Mead, Munira Shonibare – CEO, IO Furnitures and Bunmi Jembola – CEO, SalesRuby, with a welcome address delivered by Bunmi Jembola.

The first keynote speaker Austin Okere who is the founder of Computer Warehouse Group, (CWG) stated that leaving one’s job to start a business is very difficult and it is of high importance to build trust in a business. He further stated that getting your very first client can be tough but if the business owner can push through that and get repeat patronage, then he/she will start to make some money.

Okere disclosed that fear and excuses are a major factor that stops people from starting anything at all, while also stating that hitting brick walls of frustration and stress cannot be avoided. He reiterated that building capability, functionality, partnerships, diversification and succession were key ingredients needed to sustain a business.

Munira Shonibare CEO of IO Furnitures and the 2nd keynote speaker shared her experience from when she started her business in 1987 as an interior designer. Referrals is the most powerful marketing tool, having a strategic business plan and knowing one’s customers by specifically targeting them is of utmost importance, she pointed out.

Shonibare revealed that having mentors who have succeeded in areas where a person wants to be can never be overemphasized. Hard work, determination, discipline and focus, as well as knowing when to scale up, either due to risks or increase in demand in business, should also be looked into.

A debate session as to whether the 2.5% increase in Value added tax (VAT) from 5% to 7% was necessary, was deliberated on by Nigerians. A larger number of the audience said if only the government can make evident, what the money has been used for, then it wouldn’t be an issue. But when everything remains the same in the country, then one is only left to wonder what the increase is meant for.

Alpha Mead Group CEO Femi Akintunde, who spoke as the last keynote speaker shared how he started his business, after working with Nestle, Shell and UBA and then resigning to become a startup, which was extremely tough. Having to convince people to buy into his dream was another challenge he had to overcome before making a headway. Akintunde was nominated for entrepreneur for West Africa 2013 in the (Emerging Business Category).

Bunmi Jembola – CEO SalesRuby and Munira Shonibare were the panelist for the panel session. Jembola said technology can sometimes be an impediment rather than adding value, when asked how to better leverage on technology the right way.

While Munira Shonibare emphasized the need to build internal relationships and conversations with people, including having both online and offline business strategies, filling a gap in an already saturated market as well as work documentation, for the purpose of keeping records.