July 5, 2025 • 22 mins
In this episode of Smart Growth, we spotlight Kasali Adewale, also known as SMART—a serial entrepreneur and the creative force behind OMOLUABI Clothings. With deep roots in fashion design, PR, and brand management, SMART shares how he’s building a fashion label that blends streetwear with African identity. He opens up about his journey, the business of staying relevant in a saturated fashion market, and what it means to grow a brand with cultural depth. Joined by our business expert, the conversation dives into strategies for scaling a clothing brand, attracting loyal customers, and turning creativity into consistent revenue. If you’re a fashionpreneur or creative brand builder, this episode is a masterclass in brand evolution and smart business.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
Again, you mentioned the fashion show, which I think is
very very great. I think the fashion show should also
have like key metrics and plans. So how many people
are you targeting?
Speaker 2 (00:10):
Again?
Speaker 1 (00:11):
It has to tie into growth for your business. A
huge number of people come, you're expecting them to buy
your clothes. How many are you looking to sell? Hello,
my name is Keled Jeffair. I'm the Investment and Venture
Supper lead at Impact Club Legos. Impact Club Legos is
(00:31):
an innovation hub. We work with entrepreneurs, SMEs and technology
entrepreneurs to build and scale their businesses and go for
a suit of services as well. I'm here with at Deal,
who is a fashion entrepreneur based in Legos, Nigeria. He
is going to tell us about himself and also more
about his business. So I'd love to hear from you
(00:52):
at Dale on your business. What's the name of your business,
what do you do and how did this start? When
did you start business?
Speaker 2 (01:00):
As well?
Speaker 3 (01:01):
Yeah? Nice met care.
Speaker 4 (01:02):
So my name is Amte happening at the Creative Mobile
including So basically clothing is a fashion brand that using
adding more beauty and fashion spaces. Two people who are
fashion oriented and fashion interests. So what we do is
(01:24):
we basically care designs for meals from clothing to shoemaking
and bad mockey.
Speaker 1 (01:31):
So how did you start, Like, when did you start
this business? How how did you come up with the
idea of certainly fashion business?
Speaker 4 (01:38):
Okay, so growing up, I've always been a local fashion
mobile fashion interests. So to start with, I started with photography,
and after getting admission into the university, I tried to
look at it like I want to do what I
want to end money with, what I like doing most,
(02:00):
and which is this fashional thing. So then I started
with Smart Feits. It's basically casual.
Speaker 3 (02:06):
Streets way out it for students.
Speaker 4 (02:08):
Then I can basically say I was more of the
high fashion of my schooldays. Then, so on campus, if
you're not on smart with you might not necessarily be
you know, considered as big bowing on campus.
Speaker 3 (02:21):
So then after school I.
Speaker 4 (02:24):
Thought of innovational to bigger mensmiboys this time around. And
I feel like the smart fits the casual the streets,
where's my mud so ily sell what I want to do,
So instead I have to look at a better name
that I will sell what I want to do. Then
I I settled for mobcluding So the idea of a
(02:45):
moloaby came from the father that you know in Oruba
or there's an added that says, dressed the way you
want to be addressed, So urrobat them Ruba is basically,
how do I put it be is someone that's very
good looking and all of that.
Speaker 3 (03:04):
So the idea of.
Speaker 2 (03:06):
Came from them.
Speaker 1 (03:07):
So that's actually very interesting because I really like the
fact that you started very young as an entrepreneur, started
Smart Fits. I would have just thought maybe you would
have sort of merged both businesses like Asla bid that
provides luxury clothing to high classmen and then there's a
smart Fits that provides you know, hippy clothing to young people.
(03:30):
What do you think about, like, what would you think
as an entrepreneur about you know, working with those two markets,
those two different markets.
Speaker 4 (03:37):
So the thing is, I don't want to bore my audience.
I don't want to you know, confuse there. So clothing
actually covers everything from kata to suit to casuals to streetways,
cover all, so it is not really to the old age. Also,
the main the main are the boys.
Speaker 1 (04:00):
So we satisfied that that makes a lot of sense.
You're tapping into both markets and getting on from that.
To ye, I think that's as interesting. I actually had
a business when I was in school too, so both students,
both student entrepreneurs. Even though now you still are an
entrepreneur and now work with entrepreneurs. I think my next
question will be what's you know, what's your next growth
(04:22):
plan for more including what are you looking to achieve
in the next one year and then going for that
down the line.
Speaker 4 (04:29):
So basically I do not usually have one year plan,
five years plan. Every day I wake up. It's always
in your plan and your targets. But then one of
my major thing is the fact that my brand is first.
Speaker 3 (04:45):
Growing on the mainland.
Speaker 4 (04:47):
So to say precisely, very soon I am hosting one
of the biggest version show in the corridor, so to say.
Speaker 3 (04:56):
We the league to plan we have on ground, it's
going to be massive.
Speaker 4 (05:01):
So this fashion issue is going to give rooms to
fashion designers. Every every entrepreneurs are into fashion. So what
I mean by fashion is telos Ma, co parties, bad makers,
shoe makers and as much as whatever I think you're
doing into fashion, you're giving your platform to come through kids.
Whatever I think you can do, the creativity and also
(05:23):
have a platform to sell your market. So it's going
to be the wrong way and as well as the
childe fait together.
Speaker 1 (05:31):
No, I really like the idea and the concept of that.
But I think because this session that we're having is
also an interview slash business consultation like here about your
business news, provide no solutions and give advice. I'm very
curious as to the fact that you mentioned you don't
necessarily have you know, long term plans or even short
(05:53):
term plans. I think that tends to work in like
personal that can fly because no terms to work. Maybe
that can fly, you know, in personal goal setting. But
I tend to find that in like people who run businesses,
you need to have goals, not just merely for you,
because again you would have staff, you would have you know,
new members of your team. There needs to be goals,
(06:15):
there are KPIs that they should meet here. You need
to you know, market to so so and so number
of people you need to bring in this number of clients.
I think it's fine as a solo entrepreneur, which is
as a solo if you're running solo entrepreneurship or SOO
proprietorship like they call it, but I think that even
if you are a so proprietor, you need to have
(06:35):
a solid plan for your business. Again, you mentioned the
fashion show, which I think is very very great. I
think the fashion show should also have like key metrics
and plans. So how many people are you targeting? Again,
it has to tie into growth for your business. A
huge number of people come, You're expecting them to buy
your clothes. How many are you looking to sell? Like,
(06:56):
what are they? What are the key growth or key
goals are you looking for looking forward to the fashion show?
You know doing for your business?
Speaker 4 (07:07):
Again, one is I want to put Ecre basically on
the map to actually make a statement that is not
a fashion backward community. And secondly directly to my brand,
I am also looking at a way to you know,
make the brand known to the big names, big personalities
(07:32):
in a curder.
Speaker 3 (07:33):
So it's a way of giving back to the community.
Speaker 4 (07:36):
And on that note, we have a plan to also
enroll twenty jutes.
Speaker 3 (07:43):
So the academy. So I have a fashion academy on
that brand where we have sections.
Speaker 4 (07:50):
So usually every section is we only enrod train to students.
So from that event, any DUTO is interested in learning
who would be en roaded in my fashion Academy free
of charge for that section is only busically for people
from that program. So then talking about a bigger plan
(08:12):
aside that, of course we want to expand correctly, I
started with two starts and right now I have like
fifteen fifteen studies. I feel like in a year time
or by the end of this year, after the event
as to a bigger space.
Speaker 3 (08:29):
As a matter of our goes to have my own
personal abedion, just like our.
Speaker 4 (08:33):
Own big mentorers did the shout out to shave with
he just had his own big complex. So these are
future plans. So these are the results I'm actually looking
from the events.
Speaker 1 (08:51):
I think there's a strategic sort of results that definitely
can happen. I think maybe the only even to advice.
And then we close the chapter is I you mentioned
giving back to the society, so training those people. So
I love when I entrepreneurs that give back to society.
I think they call them social entrepreneurs. So you're making
profit and then you're also doing good into society. But
(09:11):
then you also need to think very business like I
feel I love entrepreneurs for this category. You want to
do good, do good, and then you're doing more good
and you're making an impact in society, but then it's
harming you in terms of like revenue your profits. So
I think hearing you, I know that you love to
give back, but then you also should be very dogged on,
you know, seecuring revenue and money. And if you don't mind,
(09:34):
what's the name of the fashion show you're planning and care?
Speaker 2 (09:36):
Does you have a name yet?
Speaker 3 (09:39):
Fashion shoe?
Speaker 2 (09:40):
Okay?
Speaker 1 (09:40):
So so everyone watching place are invited, so you can
do fashion show. Conserve will be there, Okay. I think
my next question would be what's your biggest challenge? What
has been the biggest challenge as an entrepreneur? What are
the biggest challenges you faces?
Speaker 4 (09:55):
So basically starting with my biggest challenge is the fact
that my target augins once in a while, some of
them have this notional idea that my community determines the
quality of production I need.
Speaker 3 (10:16):
So it is.
Speaker 4 (10:17):
Sometimes it takes extra to actually convince that person you
have in mind to.
Speaker 3 (10:25):
Make your clients. For instance, we all generally all believe
that the big mains are of.
Speaker 4 (10:31):
The island, and when we try to reach out to them,
they kind of ask for vacations and immediately tell them
where your story is at. It's more of a big
challenge to me, which is one of the things I'm
trying to you know, correct and aside that there is
a general problem to every entrepreneur, which is the city.
(10:53):
So it is one big challenge to me as well.
But then we are trying to possibilities to make that
a minor challenges or all in all. Clients, clients who
judge your quality of the quality of the production by
your inmiduous community, any any client that has that kind
(11:16):
of idea, I kind of challenge.
Speaker 1 (11:19):
Yeah, so I hear you on the electricity part, but
I missed the first thing you said, so can you
just go back.
Speaker 4 (11:27):
So it is clients who have the idea that tailors
of fashion designers from this part of legos people cannot
do what they want, cannot give that quality inters of fabrics,
quality to design, top knowledge designs. So it's a kind
(11:48):
of a challenging idea that I get from. So I'm
doing my oppositities to create that and it's tenually working.
Speaker 1 (11:56):
So that makes so it's a mindset issue with like
dozen like you know, setting classes, what do they feel
if you're situated in dislocation. You can't deliver up to
power with those on the island or whatever. I think
that's very violent. It's something that it's a you know
byas that we don't love, you know, customers of know
that they have they would rather purchase high priced items,
(12:18):
thinking that because it's highly priced, it's more quality than
purchasing you know, with people who are open and coming.
I think I would go back to the second perst
and then come back to the first solution. So for electricity,
I think you challenge to everybody in Nigeria good entrepreneurs
but does not know entrepreneurs, and I think it, you know,
makes the price of goods go up in terms of
(12:39):
those maybe who use electricity for you know, storing items
I think you get and tailors use it for like sewing,
there's electric sewing machine and stuff. So I think maybe
worth what's worth investing in solar because again noble energy
source are able to use so on. But I know
the major thing is in as finances. So again it's
(13:03):
now even the second one is it's a finance issue.
I think the first one again we talk about and
maybe it's possible with I think the second one is
actually a finance issue, so it's much more. You're now
looking at accessing grants that can you know, provide you
with necessary equipment. You mentioned you also want to have
a space. I think a lot of entrepreneurs try to
do things they loon. So again, you want to have
(13:24):
a sort of things. You're already calculating the mat or
you want to take a loan you want to do
which is great. I'd like to see people who have
what they call skin in the game. You have a business,
you push her to do it, succeed, seed succeed. But
there are a lot of resources out there that or
a lot of resources or opportunities or initiatives I want
to support entrepreneurs like u SMEs that have grant funding
(13:46):
to provide to entrepreneurs and you just have to have
a business fan. So that's why it's important to have
goals like like I mentioned, because they also want to
see what I go this money I give you, what
are you going to use this? But there are lots
I don't know if I'm allowed to mention, but a
lot of you know, entrepreneurship training programs that they provide funding,
they provide technical assistance, meaning that they would even't train
(14:08):
you to know, you know, what is wrong in your business?
How do we implement this? Provide you with a mentor
and so many things. So I think my advice to
we don't do it alone. After this, just actually try
to search chilge. You pusy grant opportunities for entrepreneurs in
Anjia A lot of pop up You would get to
the stage because I did a lot of it when
I was an entrepreneur. You get to the point where
you're getting a lot of rejections back to bank, up
(14:29):
to babble. As you apply, you begin to have expertise
in grant writing and proposal writing, and then with that
you can actually unlock finance to not just provide you know,
finance for your solar system, but even beyond in terms
of like providing with more machineries, providing with you know,
access to financial pit for your land. And I know
you seem like a heavy question.
Speaker 4 (14:51):
Anything I've tried several grants applied. Yeah, definitely, we've tried,
but then we've not really got that anyone's But then
as a point that was kind of that, you know,
I just thought, then just keep the Indian mind to profits.
So with what you say that, I think you actually
was the whole world of trying.
Speaker 1 (15:12):
Yeah, you should definitely try and even seek help. So
a lot of these grand opportunities they have like webinars
or they to tell you how to apply, because I
think the thing with grant applications there's you know, general
application and then there's a way to apply. So people
just apply. But maybe why you're the feedback or the
information of providing is normal they need. So sometimes I
realize that it's fine for you to utilize an expert
(15:34):
to actually help you and guide you in writing your
grants because as an entrepreneur, you're doing multiple things. You're
working with your staff and so short time they deliver
it and you're now trying to learn a new skill.
Of it's actually a skill on its own, So it
may need to come to the one where you actually,
you know, work with an expert to help you before
may be higher it team member that it's focused on
that and they spat on the success of that, so
(15:56):
it doesn't necessarily need to be a youth thing. Also
to your point on reason you know grants, I mentioned
working with an expert, but I think also sometimes important
to mention is, you know, types of brands are available
to entrepreneurs. So we have the ACT Foundation, who again
one of the pioneers of even this true that we have,
(16:19):
and they're providing grant. They provide grand fundings to entrepreneurs,
social entrepreneurship and social entrepreneurship initiatives, but I know even
primarily to a sem is like you. So it's really simple.
I think a lot of times with grants apication, you
just have to have your eye you know, on those
different pages. And that's why I said sometimes you may
need to work with an expert because you have so
many things you're doing. So there's a lot. There's ACTS Foundation,
(16:41):
there's Kickstarts entrepreneurship grants which I got in a very
long time agoing as all entrepreneurs, so I know it's
you know legits, Tony Lumelu Foundation, which everybody you know
tries to get a share of that open impact public
because we have a couple of grants as well. So
there's a lot. Even banks that provide dead funding partner
(17:05):
with organizations to give our grants or sometimes give our
grants as you know, maybe see Sarah their way of
doing good in the environments, i'll transaction. I hope you do,
and I hope you loising for you eventually get on
a lot after Now, I think i'd just like to,
you know, know more about your numbers in terms of revenue.
Speaker 2 (17:25):
So how much do you make per month?
Speaker 1 (17:30):
I think other reus you need to have anye on
how much you make per month, how much you make annually?
Speaker 2 (17:35):
How much are you looking to make? So I think
my goal here is to just.
Speaker 1 (17:38):
See where you are at in terms of revenue, where
you want to be, and then maybe profess some solutions
of how on how we can get there.
Speaker 4 (17:46):
So in terms of how much I make in a
mood in profit or do that income?
Speaker 2 (17:54):
Yeah, I think revenue total income.
Speaker 3 (17:56):
So it's the use.
Speaker 1 (18:00):
Yeah, that's very lucky about the money. This is an
open space. Okay, So what's your margin? So we don't
need to come number. So if you know your revenues
obviously profit and all of that things combined, So how
much comes to you as profit from revenue? And again
I need I don't necessarily accurate numbers because again minimum
(18:22):
to provide about maybe seventy percent goes seventy percent goes
into like costs or direct cost for the business and
then thirty percent of revenues is sixty forty.
Speaker 4 (18:31):
What so it is a forty forty twenty day I'm
real sure think so forty is basically to the business.
Speaker 3 (18:41):
Forty for the running of the company day to day,
months to months.
Speaker 4 (18:46):
And twenty is the savis So probably forty four day
to day monthly business.
Speaker 3 (18:52):
The staff salaries, allows the rains and all of that.
Speaker 1 (18:57):
So forty direct costs forty they are forty is your
profits and then like.
Speaker 4 (19:03):
Getting more fabrics, okay, advert and a lot of that promotion,
and then forty staff salaries styles wear faiseum's office with
the twenty.
Speaker 2 (19:18):
Of savings, So what is your profit in that margin?
Speaker 4 (19:21):
Everything is my profit. One hundred is profit. So out
of the profit, that is why I pay allies.
Speaker 1 (19:26):
That is why I am so I think what you
need to do is actually have an accurate split of
that in terms of your margins, because again one hundred
percent can't be your margin because even with the kind
of business you do, you have to buy clothes, there's
money spent in that. So I was thinking when you
said forty forty twenty men, forty percent is direct court,
(19:49):
which is saf salaries you know everything needs to run
your business. I thought the other forty was profit, and
then I taught twenty one hours of them excited to
hear about savings because I don't hear a lot from entrepreneurs.
Speaker 4 (20:00):
Okay, So what I mean is, after at the end
of the month, anything we were able to realize everything
is not profit. But we are losing profit at Emitiastic
because by that time we've already delivered those outfits. Now
part of the art sets or all of the outfits
we are tally delivered. We have to find a way
to kill them back. So we have taken some part
(20:23):
of the morning to buy.
Speaker 3 (20:24):
More fabrics, more materials, and we need to pay the staffs.
Speaker 4 (20:29):
We need to sort petrol, sorts, electricity, and so anything
whatever that means.
Speaker 3 (20:36):
It's our service, what I'm saying.
Speaker 2 (20:39):
So that is why forty that makes sense.
Speaker 1 (20:43):
I think I would just like you to sort of
adopt a new strategy for like, maybe you're pretty more
like a larger enterprise.
Speaker 2 (20:50):
I know this is how a lot of.
Speaker 1 (20:52):
Small holder businesses run, so actually adopted like a large
enterprise mindset. So in terms of that hundred, in terms
of someone gives you eighty thousand, you need to split
it or pay a month. You need to know how
much is going to cost, because then that helps you
see if your business is actually running at a lot
of profits. Because you're running a business and so much
is going into and anyway you're running it where you're
(21:14):
just recycling and saving and exactling, you actually are not
able to addlely track it.
Speaker 2 (21:18):
So you need to be able to track how much
is going into.
Speaker 1 (21:21):
Expenses, how much am I getting it's from your profit
that you're actually supposed to pay your ent staff. You're
supposo to pay your staff from you know, ther direct costs.
That is, you are now running at a loss. But
a lot of times it's not obvious. It's when your
business goes to cettain skilled that and it begins to
look as if your money is loking from somewhere. But
because you don't really have those finances in check, So
(21:43):
you need to have understand your direct costs per month
and then even pay a year, understand how much profit
you are making out of everything, and then I like
the savings of it, so I think you should keep
it to cost direct cost profits. And then I would
say maybe say five is actually too lud to say.
(22:03):
But I think the reason you're able to do this
because you're actually not having out your profit taking. Like
I said, it's your fig profit you should pay your
Your profit is your actual money, so profit you're supposed
to pay yourself, not the other money for buying closes,
just like money being recycled and you know stuff like that. Okay,
I don't know, do you have any other maybe last
pending questions? Okay, So it was really nice speaking to
(22:25):
you a day were Lie. I was great hearing about
your business. I wish you the best in your journey,
and I hope this session was impactful and helpful to
you than I also hope that in the next three
months and we do check up on your business, that
would have you know, good things to see about it
and then a lot of these things that we've talked
about and have put it in place, and hopefully you'd
(22:46):
have won that grand
Again, you mentioned the fashion show, which I think is
very very great. I think the fashion show should also
have like key metrics and plans. So how many people
are you targeting?
Speaker 2 (00:10):
Again?
Speaker 1 (00:11):
It has to tie into growth for your business. A
huge number of people come, you're expecting them to buy
your clothes. How many are you looking to sell? Hello,
my name is Keled Jeffair. I'm the Investment and Venture
Supper lead at Impact Club Legos. Impact Club Legos is
(00:31):
an innovation hub. We work with entrepreneurs, SMEs and technology
entrepreneurs to build and scale their businesses and go for
a suit of services as well. I'm here with at Deal,
who is a fashion entrepreneur based in Legos, Nigeria. He
is going to tell us about himself and also more
about his business. So I'd love to hear from you
(00:52):
at Dale on your business. What's the name of your business,
what do you do and how did this start? When
did you start business?
Speaker 2 (01:00):
As well?
Speaker 3 (01:01):
Yeah? Nice met care.
Speaker 4 (01:02):
So my name is Amte happening at the Creative Mobile
including So basically clothing is a fashion brand that using
adding more beauty and fashion spaces. Two people who are
fashion oriented and fashion interests. So what we do is
(01:24):
we basically care designs for meals from clothing to shoemaking
and bad mockey.
Speaker 1 (01:31):
So how did you start, Like, when did you start
this business? How how did you come up with the
idea of certainly fashion business?
Speaker 4 (01:38):
Okay, so growing up, I've always been a local fashion
mobile fashion interests. So to start with, I started with photography,
and after getting admission into the university, I tried to
look at it like I want to do what I
want to end money with, what I like doing most,
(02:00):
and which is this fashional thing. So then I started
with Smart Feits. It's basically casual.
Speaker 3 (02:06):
Streets way out it for students.
Speaker 4 (02:08):
Then I can basically say I was more of the
high fashion of my schooldays. Then, so on campus, if
you're not on smart with you might not necessarily be
you know, considered as big bowing on campus.
Speaker 3 (02:21):
So then after school I.
Speaker 4 (02:24):
Thought of innovational to bigger mensmiboys this time around. And
I feel like the smart fits the casual the streets,
where's my mud so ily sell what I want to do,
So instead I have to look at a better name
that I will sell what I want to do. Then
I I settled for mobcluding So the idea of a
(02:45):
moloaby came from the father that you know in Oruba
or there's an added that says, dressed the way you
want to be addressed, So urrobat them Ruba is basically,
how do I put it be is someone that's very
good looking and all of that.
Speaker 3 (03:04):
So the idea of.
Speaker 2 (03:06):
Came from them.
Speaker 1 (03:07):
So that's actually very interesting because I really like the
fact that you started very young as an entrepreneur, started
Smart Fits. I would have just thought maybe you would
have sort of merged both businesses like Asla bid that
provides luxury clothing to high classmen and then there's a
smart Fits that provides you know, hippy clothing to young people.
(03:30):
What do you think about, like, what would you think
as an entrepreneur about you know, working with those two markets,
those two different markets.
Speaker 4 (03:37):
So the thing is, I don't want to bore my audience.
I don't want to you know, confuse there. So clothing
actually covers everything from kata to suit to casuals to streetways,
cover all, so it is not really to the old age. Also,
the main the main are the boys.
Speaker 1 (04:00):
So we satisfied that that makes a lot of sense.
You're tapping into both markets and getting on from that.
To ye, I think that's as interesting. I actually had
a business when I was in school too, so both students,
both student entrepreneurs. Even though now you still are an
entrepreneur and now work with entrepreneurs. I think my next
question will be what's you know, what's your next growth
(04:22):
plan for more including what are you looking to achieve
in the next one year and then going for that
down the line.
Speaker 4 (04:29):
So basically I do not usually have one year plan,
five years plan. Every day I wake up. It's always
in your plan and your targets. But then one of
my major thing is the fact that my brand is first.
Speaker 3 (04:45):
Growing on the mainland.
Speaker 4 (04:47):
So to say precisely, very soon I am hosting one
of the biggest version show in the corridor, so to say.
Speaker 3 (04:56):
We the league to plan we have on ground, it's
going to be massive.
Speaker 4 (05:01):
So this fashion issue is going to give rooms to
fashion designers. Every every entrepreneurs are into fashion. So what
I mean by fashion is telos Ma, co parties, bad makers,
shoe makers and as much as whatever I think you're
doing into fashion, you're giving your platform to come through kids.
Whatever I think you can do, the creativity and also
(05:23):
have a platform to sell your market. So it's going
to be the wrong way and as well as the
childe fait together.
Speaker 1 (05:31):
No, I really like the idea and the concept of that.
But I think because this session that we're having is
also an interview slash business consultation like here about your
business news, provide no solutions and give advice. I'm very
curious as to the fact that you mentioned you don't
necessarily have you know, long term plans or even short
(05:53):
term plans. I think that tends to work in like
personal that can fly because no terms to work. Maybe
that can fly, you know, in personal goal setting. But
I tend to find that in like people who run businesses,
you need to have goals, not just merely for you,
because again you would have staff, you would have you know,
new members of your team. There needs to be goals,
(06:15):
there are KPIs that they should meet here. You need
to you know, market to so so and so number
of people you need to bring in this number of clients.
I think it's fine as a solo entrepreneur, which is
as a solo if you're running solo entrepreneurship or SOO
proprietorship like they call it, but I think that even
if you are a so proprietor, you need to have
(06:35):
a solid plan for your business. Again, you mentioned the
fashion show, which I think is very very great. I
think the fashion show should also have like key metrics
and plans. So how many people are you targeting? Again,
it has to tie into growth for your business. A
huge number of people come, You're expecting them to buy
your clothes. How many are you looking to sell? Like,
(06:56):
what are they? What are the key growth or key
goals are you looking for looking forward to the fashion show?
You know doing for your business?
Speaker 4 (07:07):
Again, one is I want to put Ecre basically on
the map to actually make a statement that is not
a fashion backward community. And secondly directly to my brand,
I am also looking at a way to you know,
make the brand known to the big names, big personalities
(07:32):
in a curder.
Speaker 3 (07:33):
So it's a way of giving back to the community.
Speaker 4 (07:36):
And on that note, we have a plan to also
enroll twenty jutes.
Speaker 3 (07:43):
So the academy. So I have a fashion academy on
that brand where we have sections.
Speaker 4 (07:50):
So usually every section is we only enrod train to students.
So from that event, any DUTO is interested in learning
who would be en roaded in my fashion Academy free
of charge for that section is only busically for people
from that program. So then talking about a bigger plan
(08:12):
aside that, of course we want to expand correctly, I
started with two starts and right now I have like
fifteen fifteen studies. I feel like in a year time
or by the end of this year, after the event
as to a bigger space.
Speaker 3 (08:29):
As a matter of our goes to have my own
personal abedion, just like our.
Speaker 4 (08:33):
Own big mentorers did the shout out to shave with
he just had his own big complex. So these are
future plans. So these are the results I'm actually looking
from the events.
Speaker 1 (08:51):
I think there's a strategic sort of results that definitely
can happen. I think maybe the only even to advice.
And then we close the chapter is I you mentioned
giving back to the society, so training those people. So
I love when I entrepreneurs that give back to society.
I think they call them social entrepreneurs. So you're making
profit and then you're also doing good into society. But
(09:11):
then you also need to think very business like I
feel I love entrepreneurs for this category. You want to
do good, do good, and then you're doing more good
and you're making an impact in society, but then it's
harming you in terms of like revenue your profits. So
I think hearing you, I know that you love to
give back, but then you also should be very dogged on,
you know, seecuring revenue and money. And if you don't mind,
(09:34):
what's the name of the fashion show you're planning and care?
Speaker 2 (09:36):
Does you have a name yet?
Speaker 3 (09:39):
Fashion shoe?
Speaker 2 (09:40):
Okay?
Speaker 1 (09:40):
So so everyone watching place are invited, so you can
do fashion show. Conserve will be there, Okay. I think
my next question would be what's your biggest challenge? What
has been the biggest challenge as an entrepreneur? What are
the biggest challenges you faces?
Speaker 4 (09:55):
So basically starting with my biggest challenge is the fact
that my target augins once in a while, some of
them have this notional idea that my community determines the
quality of production I need.
Speaker 3 (10:16):
So it is.
Speaker 4 (10:17):
Sometimes it takes extra to actually convince that person you
have in mind to.
Speaker 3 (10:25):
Make your clients. For instance, we all generally all believe
that the big mains are of.
Speaker 4 (10:31):
The island, and when we try to reach out to them,
they kind of ask for vacations and immediately tell them
where your story is at. It's more of a big
challenge to me, which is one of the things I'm
trying to you know, correct and aside that there is
a general problem to every entrepreneur, which is the city.
(10:53):
So it is one big challenge to me as well.
But then we are trying to possibilities to make that
a minor challenges or all in all. Clients, clients who
judge your quality of the quality of the production by
your inmiduous community, any any client that has that kind
(11:16):
of idea, I kind of challenge.
Speaker 1 (11:19):
Yeah, so I hear you on the electricity part, but
I missed the first thing you said, so can you
just go back.
Speaker 4 (11:27):
So it is clients who have the idea that tailors
of fashion designers from this part of legos people cannot
do what they want, cannot give that quality inters of fabrics,
quality to design, top knowledge designs. So it's a kind
(11:48):
of a challenging idea that I get from. So I'm
doing my oppositities to create that and it's tenually working.
Speaker 1 (11:56):
So that makes so it's a mindset issue with like
dozen like you know, setting classes, what do they feel
if you're situated in dislocation. You can't deliver up to
power with those on the island or whatever. I think
that's very violent. It's something that it's a you know
byas that we don't love, you know, customers of know
that they have they would rather purchase high priced items,
(12:18):
thinking that because it's highly priced, it's more quality than
purchasing you know, with people who are open and coming.
I think I would go back to the second perst
and then come back to the first solution. So for electricity,
I think you challenge to everybody in Nigeria good entrepreneurs
but does not know entrepreneurs, and I think it, you know,
makes the price of goods go up in terms of
(12:39):
those maybe who use electricity for you know, storing items
I think you get and tailors use it for like sewing,
there's electric sewing machine and stuff. So I think maybe
worth what's worth investing in solar because again noble energy
source are able to use so on. But I know
the major thing is in as finances. So again it's
(13:03):
now even the second one is it's a finance issue.
I think the first one again we talk about and
maybe it's possible with I think the second one is
actually a finance issue, so it's much more. You're now
looking at accessing grants that can you know, provide you
with necessary equipment. You mentioned you also want to have
a space. I think a lot of entrepreneurs try to
do things they loon. So again, you want to have
(13:24):
a sort of things. You're already calculating the mat or
you want to take a loan you want to do
which is great. I'd like to see people who have
what they call skin in the game. You have a business,
you push her to do it, succeed, seed succeed. But
there are a lot of resources out there that or
a lot of resources or opportunities or initiatives I want
to support entrepreneurs like u SMEs that have grant funding
(13:46):
to provide to entrepreneurs and you just have to have
a business fan. So that's why it's important to have
goals like like I mentioned, because they also want to
see what I go this money I give you, what
are you going to use this? But there are lots
I don't know if I'm allowed to mention, but a
lot of you know, entrepreneurship training programs that they provide funding,
they provide technical assistance, meaning that they would even't train
(14:08):
you to know, you know, what is wrong in your business?
How do we implement this? Provide you with a mentor
and so many things. So I think my advice to
we don't do it alone. After this, just actually try
to search chilge. You pusy grant opportunities for entrepreneurs in
Anjia A lot of pop up You would get to
the stage because I did a lot of it when
I was an entrepreneur. You get to the point where
you're getting a lot of rejections back to bank, up
(14:29):
to babble. As you apply, you begin to have expertise
in grant writing and proposal writing, and then with that
you can actually unlock finance to not just provide you know,
finance for your solar system, but even beyond in terms
of like providing with more machineries, providing with you know,
access to financial pit for your land. And I know
you seem like a heavy question.
Speaker 4 (14:51):
Anything I've tried several grants applied. Yeah, definitely, we've tried,
but then we've not really got that anyone's But then
as a point that was kind of that, you know,
I just thought, then just keep the Indian mind to profits.
So with what you say that, I think you actually
was the whole world of trying.
Speaker 1 (15:12):
Yeah, you should definitely try and even seek help. So
a lot of these grand opportunities they have like webinars
or they to tell you how to apply, because I
think the thing with grant applications there's you know, general
application and then there's a way to apply. So people
just apply. But maybe why you're the feedback or the
information of providing is normal they need. So sometimes I
realize that it's fine for you to utilize an expert
(15:34):
to actually help you and guide you in writing your
grants because as an entrepreneur, you're doing multiple things. You're
working with your staff and so short time they deliver
it and you're now trying to learn a new skill.
Of it's actually a skill on its own, So it
may need to come to the one where you actually,
you know, work with an expert to help you before
may be higher it team member that it's focused on
that and they spat on the success of that, so
(15:56):
it doesn't necessarily need to be a youth thing. Also
to your point on reason you know grants, I mentioned
working with an expert, but I think also sometimes important
to mention is, you know, types of brands are available
to entrepreneurs. So we have the ACT Foundation, who again
one of the pioneers of even this true that we have,
(16:19):
and they're providing grant. They provide grand fundings to entrepreneurs,
social entrepreneurship and social entrepreneurship initiatives, but I know even
primarily to a sem is like you. So it's really simple.
I think a lot of times with grants apication, you
just have to have your eye you know, on those
different pages. And that's why I said sometimes you may
need to work with an expert because you have so
many things you're doing. So there's a lot. There's ACTS Foundation,
(16:41):
there's Kickstarts entrepreneurship grants which I got in a very
long time agoing as all entrepreneurs, so I know it's
you know legits, Tony Lumelu Foundation, which everybody you know
tries to get a share of that open impact public
because we have a couple of grants as well. So
there's a lot. Even banks that provide dead funding partner
(17:05):
with organizations to give our grants or sometimes give our
grants as you know, maybe see Sarah their way of
doing good in the environments, i'll transaction. I hope you do,
and I hope you loising for you eventually get on
a lot after Now, I think i'd just like to,
you know, know more about your numbers in terms of revenue.
Speaker 2 (17:25):
So how much do you make per month?
Speaker 1 (17:30):
I think other reus you need to have anye on
how much you make per month, how much you make annually?
Speaker 2 (17:35):
How much are you looking to make? So I think
my goal here is to just.
Speaker 1 (17:38):
See where you are at in terms of revenue, where
you want to be, and then maybe profess some solutions
of how on how we can get there.
Speaker 4 (17:46):
So in terms of how much I make in a
mood in profit or do that income?
Speaker 2 (17:54):
Yeah, I think revenue total income.
Speaker 3 (17:56):
So it's the use.
Speaker 1 (18:00):
Yeah, that's very lucky about the money. This is an
open space. Okay, So what's your margin? So we don't
need to come number. So if you know your revenues
obviously profit and all of that things combined, So how
much comes to you as profit from revenue? And again
I need I don't necessarily accurate numbers because again minimum
(18:22):
to provide about maybe seventy percent goes seventy percent goes
into like costs or direct cost for the business and
then thirty percent of revenues is sixty forty.
Speaker 4 (18:31):
What so it is a forty forty twenty day I'm
real sure think so forty is basically to the business.
Speaker 3 (18:41):
Forty for the running of the company day to day,
months to months.
Speaker 4 (18:46):
And twenty is the savis So probably forty four day
to day monthly business.
Speaker 3 (18:52):
The staff salaries, allows the rains and all of that.
Speaker 1 (18:57):
So forty direct costs forty they are forty is your
profits and then like.
Speaker 4 (19:03):
Getting more fabrics, okay, advert and a lot of that promotion,
and then forty staff salaries styles wear faiseum's office with
the twenty.
Speaker 2 (19:18):
Of savings, So what is your profit in that margin?
Speaker 4 (19:21):
Everything is my profit. One hundred is profit. So out
of the profit, that is why I pay allies.
Speaker 1 (19:26):
That is why I am so I think what you
need to do is actually have an accurate split of
that in terms of your margins, because again one hundred
percent can't be your margin because even with the kind
of business you do, you have to buy clothes, there's
money spent in that. So I was thinking when you
said forty forty twenty men, forty percent is direct court,
(19:49):
which is saf salaries you know everything needs to run
your business. I thought the other forty was profit, and
then I taught twenty one hours of them excited to
hear about savings because I don't hear a lot from entrepreneurs.
Speaker 4 (20:00):
Okay, So what I mean is, after at the end
of the month, anything we were able to realize everything
is not profit. But we are losing profit at Emitiastic
because by that time we've already delivered those outfits. Now
part of the art sets or all of the outfits
we are tally delivered. We have to find a way
to kill them back. So we have taken some part
(20:23):
of the morning to buy.
Speaker 3 (20:24):
More fabrics, more materials, and we need to pay the staffs.
Speaker 4 (20:29):
We need to sort petrol, sorts, electricity, and so anything
whatever that means.
Speaker 3 (20:36):
It's our service, what I'm saying.
Speaker 2 (20:39):
So that is why forty that makes sense.
Speaker 1 (20:43):
I think I would just like you to sort of
adopt a new strategy for like, maybe you're pretty more
like a larger enterprise.
Speaker 2 (20:50):
I know this is how a lot of.
Speaker 1 (20:52):
Small holder businesses run, so actually adopted like a large
enterprise mindset. So in terms of that hundred, in terms
of someone gives you eighty thousand, you need to split
it or pay a month. You need to know how
much is going to cost, because then that helps you
see if your business is actually running at a lot
of profits. Because you're running a business and so much
is going into and anyway you're running it where you're
(21:14):
just recycling and saving and exactling, you actually are not
able to addlely track it.
Speaker 2 (21:18):
So you need to be able to track how much
is going into.
Speaker 1 (21:21):
Expenses, how much am I getting it's from your profit
that you're actually supposed to pay your ent staff. You're
supposo to pay your staff from you know, ther direct costs.
That is, you are now running at a loss. But
a lot of times it's not obvious. It's when your
business goes to cettain skilled that and it begins to
look as if your money is loking from somewhere. But
because you don't really have those finances in check, So
(21:43):
you need to have understand your direct costs per month
and then even pay a year, understand how much profit
you are making out of everything, and then I like
the savings of it, so I think you should keep
it to cost direct cost profits. And then I would
say maybe say five is actually too lud to say.
(22:03):
But I think the reason you're able to do this
because you're actually not having out your profit taking. Like
I said, it's your fig profit you should pay your
Your profit is your actual money, so profit you're supposed
to pay yourself, not the other money for buying closes,
just like money being recycled and you know stuff like that. Okay,
I don't know, do you have any other maybe last
pending questions? Okay, So it was really nice speaking to
(22:25):
you a day were Lie. I was great hearing about
your business. I wish you the best in your journey,
and I hope this session was impactful and helpful to
you than I also hope that in the next three
months and we do check up on your business, that
would have you know, good things to see about it
and then a lot of these things that we've talked
about and have put it in place, and hopefully you'd
(22:46):
have won that grand
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