Achievements are much celebrated than ideas...
One of the easiest ways to prove that a business idea is worthy of your attention is to learn from inspiring success stories. That’s why we are sharing an interesting business success story with you.
Ibukun Awosika used to work as a Showroom manager for Alibert, one of Nigeria’s well-established furniture companies.
She quit her job to start her own furniture business with a focus on high quality locally-manufactured office furniture.
She instantly faced two serious challenges. First, she had no technical experience in furniture making; she studied Chemistry at the university and had only worked at Alibert for a little less than three months before she quit the job.
Second, local furniture businesses faced stiff competition from furniture imported from USA and Europe which were very popular in Nigeria at that time.
Unlike most wannabe entrepreneurs who would have waited for ‘favourable’ conditions and ‘perfect’ timing to start their business, Ibukun went ahead with her idea in spite of her little experience and tough competition.
She started her small furniture business by hiring three carpenters, two tailors and two sprayers. Because she could not afford any of the big machines, her workers used their own basic tools. Work requiring larger machines were outsourced to bigger workshops for a fee.
To succeed in the business, Ibukun knew she had to match the quality of both the big and established furniture makers in Nigeria and the imported brands.
In time, her dedication to quality paid off and she started attracting some noteworthy customers.
Her first clients were some of the banks and multinational companies which used to be supplied by the big furniture companies. She established a reputation for high quality and the business grew through referrals by satisfied customers.
Ibukun grew the business by reinvesting her profits to purchase her own new machines and equipment.
In a bid to develop the local furniture industry and create jobs, the Nigerian government introduced a ban on imported furniture in 2004. This change presented a huge opportunity for local furniture businesses like Ibukun’s.
To exploit this advantage, her company, The Chair Centre Limited, formed a joint venture partnership with Sokoa SA, arguably the biggest office furniture maker in France. Under this partnership, a modern furniture manufacturing factory was built in Nigeria for the local production of world-class and international standard office furniture.
Today, Ibukun is the Managing Director of the Sokoa Chair Centre, a local company that sells several models and designs of office furniture and rakes in over two million dollars in sales every year.
Ibukun’s experience is an inspiring story of a visionary entrepreneur who in spite of her inexperience and little capital was able to transform her small furniture company into an amazing multi-million dollar enterprise. Truly inspiring!
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Dear revered reader, you are encouraged to take “baby” yet daring steps as you continue your journey into fulfilment this year! We look forward to sharing your success story🙌🙌😀😀😀
Thanks for reading 💜💜💜
I've received so many compliments on my Multiwood dining table. It's not only beautiful but also incredibly sturdy—a true testament to its quality.
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