Days of waiting for graduation before deciding on what next to do is fast gone in today’s Nigeria as the system has consistently failed in the provision of jobs for her teaming youths. This certainly may have thrust on Mr. Oludare the zeal and determination in going into laundry services well before graduating.
He bares his mind on his experience on challenges and successes in his three years in the business post-graduation with a Bachelor of Science degree in Economics from Olabisi Onabanjo University, Ago Iwoye, Ogun State. Today, youths are eager to make money mostly through the wrong sources rather than looking inwards and around to identify some of the services that are required and that could be provided with some of our home materials that are grossly underutilized. “The Laundry idea came up in 2010 when my elder brother and I were discussing on other viable source of income using the available facility at our disposal. We discovered the facility we had at home could be used to start up a laundry outlet. We made consultations and later started the business; we managed the business for three years before I left for my NYSC at Ibadan Oyo State. During my NYSC year, I worked part-time and later full time in a laundry factory for one and half years after which I started up mine”.
Our youths should endeavor to ask questions from good role models who will be able to guide them through good ideas towards sustainable success; I said sustainable success because what they see as success today is actually not because it involves cutting corners and at the end it destroys. My eight years’ experience pre and post NYSC has been worthwhile, though the challenges can be very daunting when it comes but with diligent and guidance from more experienced people, one will always overcome. Firstly, raising capital is the major challenge that will keep one bound in starting a business as the environment does not support entrepreneurs; my case was as a result of determination. Like it is said every disappointment is a blessing in disguise; that was my case. During my NYSC year, the Oyo State government owed coppers allowances for nine months which was later paid at once; this gave my savings a boost adding to other savings from other allowances, salary, and personal savings. I had little additional funds to raise from few friends and family who believed in my project. Our youths are distracted from savings today by the quest to meet with trends in fashion and mobile gadgets forgetting that the best of those things are yet to come; going by the technological advancement currently. Savings will always be your first source of fund when thinking of entrepreneurship as people that want to help you will want to see your efforts first. Sustaining the business is another area, for me. My first major breakthrough came after four months from two major customers whom I made good profit from their services, the profit was more than what we made in the previous months; this helped us to expand our capacity. And the second was from a client whom I got over 10 major clients through his referrals. Just like life is in stages so also is business, I had anticipated that I have stabilized to venture in other businesses different from the laundry services, but it was not the case as I encountered major loss of capital. So when the business is doing very well it is time to save and make sure that any other venture to embark on is worthwhile. There is little or no need to rush to the unknown from the known or expanding to unknown locations or going into partnerships with uncertainties. Currently, my services cut across over a 100 clients from inception and there is room for improvement since their patronage differs and also relative. Challenges are not avoidable in any business environment especially the one I’m in with the economy slipping into recession in 2016, thereby affecting purchasing powers of Nigerians, Power failure which is another factor killing small businesses and the personality differences among one’s clients. I have always remained resolute by asking myself questions when faced with these challenges. We make headway in such situations by finding and applying genuine answers to the pending issues.
The personnel you engage in your business is key to the success of that business; you must make sure you train and align your employees to your vision. Continually i have continued to provide training for my employees to enable them be on the same page with me.Customers’ wants are usually insatiable but at Sure Laundry we always find a way to balance it. The business has affected me positively in different ways, as we offer services to people towards meeting there laundry needs which usually is tough but fun to handle despite being time consuming.
Helping people out to do such duties effectively relieve them and put smiles on their faces. This has helped to build relationships and good network of good people. The business has made me be a role model as a young entrepreneur, mentor and someone to look up to positively.
Are you an entrepreneur in Alimosho LG, would you like to inspire our youths with your experience in business, kindly contact Abel on 08173605469. …Let’s join hands to rebuild our youths and society
[mkd_highlight background_color=”#ff0000″ color=”#fff”]Are you an entrepreneur in Alimosho LG, would you like to inspire our youths with your experience in business, kindly contact Abel on 08173605469. …Let’s join hands to rebuild our youths and society[/mkd_highlight]
