THE MORALS OF IYA ELEPA: Consistently consistent...

On Olabusola's review today, we are looking at consistence in business with a study of Iya Elepa. I remain your loyal host, Olabusola Olorunnowo.

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The way we reason as humans differs, however, there is a point of convergence in our reasoning as entrepreneurs, which is our passion and strategic move to achieving a purpose. Every entrepreneur out there has seen a picture but intends to paint it better. Now our movement towards changing the present state of a situation by adding up dynamism to it, is the essence of this post.

“Timing, perseverance, and ten years of trying will eventually make you look like an overnight success.” - Biz Stone, co-founder of Twitter.

It is in this vein that i call us to look at the story of the Iya elepa. Mark Twain, opines that "Twenty years from now, you will be more disappointed by the things that you didn't do than by the ones you did do, so throw off the bowlines, sail away from safe harbor, catch the trade winds in your sails. Explore, Dream, Discover."

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Iya Elepa resides in Ilorin town, of Kwara State and she has a small space in the front of Performing Arts, Department of University of Ilorin, Kwara State. She sells groundnuts and the local popcorn, which is popular called guguru. During my under graduate days i knew her as Iya Elepa, and many of us patronized at one time or the other. Now ten years after graduation, i hear and see Iya Elepa is still doing the same trade. Some people might criticize her for lack of growth and much more but the morals I draw from this woman is her consistency in business. In buttressing this Confucius says, "It does not matter how slowly you go as long as you do not stop."

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Little wonder the likes of Ibukun Awoshika were elevated to the point they are now.

Late Alhaji Alhassan Dantata – Kolanut trader was the wealthiest man in West Africa during his time. He started the Dantata dynasty and his descendants are some of the richest people in Nigeria (Dangote / Dantata family).

Femi Otedola – Chairman of Forte Oil, SeaForce, etc (largest diesel importer in Nigeria, also owns the largest fleet of ships).

Rasaq Okoya had no University education yet he founded Eleganza Group. Our eastern brothers are known for business, no wonder Sir Tony Ezenna – CEO of Orange Drugs, Inherited a patent shop from his father and grew it into a conglomerate.

Cosmos Maduka is also another good example of entrepeuneur, he dropped out of elementary school yet founded Coscharis Group (sole distributor of BMW vehicles in West Africa).

Mike Adenuga equally numbers among the extremely wealth entrepreneurs in Nigeria with the following company to his credit: Globacom, Conoil, Equatorial Trust Bank.

Without having a formal education, Mrs Folorunsho Alakija – (Famfa Oil) – dreamed her idea and activated it to the point of been numbered among the Richest women in Africa. These in no particular order is a list of some of the great entrepreneurs in Nigeria, whose story has influenced me.

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One great enemy of Consistency is fear of failing or fear of making mistake. Unfortunately, mistake is aligned with innovations. Foe any new idea or business to thrive there is the need to take risk and fail until the purpose is achieved. "A person who never made a mistake never tried anything new." - Albert Einstein, physicist. Giving his many experience with failing and trying new method of doing it better, the founder of the famous McDonald says, If you’re not a risk taker, you should get the hell out of business.” - Ray Kroc. I put it to you that there are a lot of people out there who pose as entrepreneurs who keep waiting for funds or who are stocked on the spot because of a previous failed experience and this act has limited them. Iya Elepa never had the privilege of modern technology to sustain her business yet through this business, she has become relevant in her community.

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We need to utilize our low hanging fruits by first associating with our circle of influence. This woman's circle of influence has been the elite who can post anything on social media yet she records daily sales. Now if she is given the knowledge and expertise that you have, yet seats on the rat race train, she would have actualized more. Steve Case, co-founder of AOL. is of the view that, “You shouldn’t focus on why you can’t do something, which is what most people do. You should focus on why perhaps you can, and be one of the exceptions.”

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You may think, I type easily because I do not know what it means to fail or be discouraged but trust me I have been there and i am prepared for more. I once lunched a biannual project for children and having gone extra mile,the two organisations that promised partnership declined almost at the completion stage. As a result, i have decided to keep it going, despite the situation. One thing that keeps me going is "When everything seems to be going against you, remember that the airplane takes off against the wind, not with it." Henry Ford, founder of Ford Motor Company.

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I equally implore us all to try out new ways of sustaining those ideas. “There’s lots of bad reasons to start a company. But there’s only one good, legitimate reason, and I think you know what it is: it’s to change the world.” - Phil Libin, CEO of Evernote.

It is only a moving idea that will attract support. No stagnant idea will ever rise beyond mere thoughts. Mind you if you keep that thoughts for just another hour or day or month or year, it will amaze you that the creator would drop it in another person's mind and this is why we see somethings or innovations close to what we once thought about. “If you can't fly then run, if you can't run then walk, if you can't walk then crawl, but whatever you do you have to keep moving forward.” - Martin Luther King, Jr., pastor, activist, humanitarian and Civil Rights leader

CHALLENGES OF YOUNG ENTREPRENEURS

Fear of Failing or fear of been mocked“Never give in–never, never, never, never, in nothing great or small, large or petty, never give in except to convictions of honour and good sense. Never yield to force; never yield to the apparently overwhelming might of the enemy.” - Winston Churchill, British Prime Minister.
Multiple ideas Yes I have often heard people say they are confused because of their numerous ideas. I will advice you pick the one you are most passionate about and the rest ideas would fall in place with time. You may not be able to start it all at once. Hence you the need to focus on one, using a scale of preference.
Lack of discipline Discipline is one thing today's entrepreneur lack and discipline is needed in everything thing we do. "It's hard to beat a person who never gives up.” - Babe Ruth, Major League Baseball Hall of Fame.
Inadequate understanding of business management skill One thing I know about great people is that the read and they conduct a lot of research. You do not have to finish every book you come across, pick the relevant part and move on to another.
Lack of time management: Understanding the concept of time to the profitability of once idea is very crucial. You need to be conscious of the turn around time you spend with each client or project and weight it in Naira. Then you might also need to behave as if you are to account for your time.
“For all of the most important things, the timing always sucks. Waiting for a good time to quit your job, or launch the idea or the time to submit the proposal. Please note that, the stars will never align and the traffic lights of life will never all be green at the same time. The universe doesn't conspire against you, but it doesn't go out of its way to line up the pins either. Conditions are never perfect and would never be. "Someday" is a disease that will take your dreams to the grave with you. Pro and con lists are just as bad. If it's important to you and you want to do it "eventually," just do it and correct course along the way.”- Timothy Ferriss, author of The 4-Hour Work Week.
Poor Spending culture: Ingvar Kamprad is very cautious of the way he spends money despite the fact that he’s among the richest people in the world and I really respect that resolve. If you have a personal standard, stick to it no matter the criticism.
Finance: finance can be an issue but ...“Don’t worry about funding if you don’t need it. Today it’s cheaper to start a business than ever.”- Noah Everett, founder Twitpic. Reading and understudying how to manage finance in business is crucial. In his view, Robert Kiyosaki the author of Rich Dad and Poor Dad whose teaching has equipped many minds says,

“People without financial knowledge, who take advice from financial experts are like lemmings simply following their leader. They race for the cliff and leap into the ocean of financial uncertainty, hoping to swim to the other side.” – Robert Kiyosaki

Poor Hiring : Entrepreneurs often loose at the point where they recruit people with less passion. “The secret to successful hiring is this: look for the people who want to change the world.” - Marc Benioff, CEO of Salesforce. Hiring people whom you can pay less is good but hiring people who are hungry for purpose is better. This is because, majority of them would easily believe in your dream and run with it.
Lack of INTEGRITY: Having been consistent over the years, Warren Buffet looks at the subject of integrity and how it can equally help entrepreneurs , in his view In the world of business and investing, Warren Buffett happens to be one of the few personalities that have maintained a clean record and it caught my attention. Integrity is a rare character in life but Warren Buffett has maintained the standard and I aspire to be just like him; or even better.

“It takes 20 years to build a reputation and only five Minutes to ruin it. If you think about that, you will do things differently.” – Warren Buffett

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On a final note, I will implore you to also read the Richest man in Babylon. You can equally research on other Nigerian and foreign entrepreneurs to learn a thing or two from them. Picking a role model or coach might also help but above all sincerely commit your aim to God, do your research plus accountability checks and be discipline in your endeavour.

May God help us to fulfill our purpose of creation.

REF:

Inspiration of Iya Elepa : Abiola Pearl Adumati 's Picture of Iya Elepa

The Richest Man in Babylon

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Mytopbusinesssideas.com

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