Ibukun Awosika Founder Chair Center Ilmited

#Purse your #idea and give it #life.

#TMB #IbukunAwosika #Africa #entrepreneur #Advice 

Ibukun Awosika founded of the Chair center estimated $1.7 billion

She currently serves as Chairman of First Bank of Nigeria.

How She solved funding
"1. I didn't have any money but savings
2. I know when I hire carpenter they come with tools
3. I don't have to pay them for the first month Free labor
4. The heavy machinery there were places I can use them and pay for usage (rent).
5. The smaller machinery I bought
6. I also know that customer pay 70% of money for the product before ts completed."

How She Got Her Big Sales
She attending the time leisure exhibition where key company and people give contract for their office furniture.
"We were well package like a really big company, we put our all while for the other companies its was just a normal business."
She  eventually got the contract and that was how she made her big sale.

How She Overcame Furniture Importation Ban
"I went to the company we preferred the most and made a deal that they start a production company in Nigeria, they refused.
I let them know I will do it with or without their help and thereby lose the benefit.
They accepted to serve 5% and provide all technical support a little help.
Two weeks after they changed their proposition and made a better one 21% investment and provide all support needed."

Advice
1. Joy and fulfillment when you  pursue your idea and giving what ts takes
2. To build for the long term, build with right structure and value system.
3. Identify what is right with the industry and laws of the land.
4. Purse your idea and give it life.
5. There is nothing more satisfying than its established.

The women featured on this show have overcome the numerous challenges faced by small and medium enterprises in Nigeria, from the lack of access to funding to the power outages.

Credit:
CNBC@youtube.com