BizNextafrica Entrepreneur

Seun Olatunji is the CEO of SBOG Nigeria Ltd. He graduated with a biochemistry degree from in University of Ibadan in 2004. Seun faced what many graduates are all too familiar with today; rejection after several attempts to find work in corporate Nigeria.This challenge gave birth to an idea to start an export business in 2007 that gradually expanded into mining and exporting of metallic mineral ore like lead, zinc and manganese ore. They mine or buy and export to China and India.

Seun believes the success of any business relies on the quality of the employees. He has a philosophy not to engage anyone who isn't able to think like an entrepreneur. Therefore, employees and partners who comprise of host community youth have been instrumental to ensuring they get quality and are not short changed by the host community.

Seun devised a simple but ingenious idea to reduce his capital, erase his need for loans and also get the latest in cutting edge technology to improve his products and service delivery by exchanging raw materials for technology with some of his partners in China. This has set him apart from competitors.They don't need to be monitored by banks and his partners understand how the business operates and how the return on Investment is not immediate.

An entrepreneur according to Seun is someone who has a great vision, takes calculated risks and maintains his integrity while taking the road less travelled. A value addition expert, who is not discouraged by failure, learns lessons, forgets the past and presses on to the future.

Seun implores banks to encourage entrepreneurs by discouraging double digit lending rates and to train staff to understand that different industries need to have loan packages tailored to their peculiarities. He says the major challenge to his industry is over regulation by govt. bodies tampering with their forex earnings.

Seun's key to success has been the God factor and his abilities to be tenacious, discover opportunities and go after them. His most difficult moment in business was the year he lost all his capital. It became an inspiration because it gave birth to two philosophies; always rise after falling and never lose your capital.

Failures are trials. You need to try again. Some of his early trials were inability to quickly diversify and inability to aggressively explore the option of partnerships and strategic alliances, which have now been immensely beneficial to him.

A typical day for Seun begins at 2am Lagos time which is 9am China time, networking and getting new leads, servicing clients, then meeting with banks, staff, business associates, govt., and host communities later in the day.

Family life has been blissful for the mining lord because he has control of his schedule and is never pressured for time. Having all the time to plan is freedom which he enjoys so much.Seun's further take on success is that it adds value to people's lives; both strangers and family. Success is being an ambassador for good things, being a total role model, mentoring and being mentored, associating with other successful people. You must be focused and have a set vision and direction. Know where you are going. The capital for 'name of business' came from family and friends. The customer base grew from the effective use of technology to network.

Seun admires Bill Gates because he built from the ground up and would like to know what and what he did. Start small but finish big is his watch word. He loves the freedom and challenges that having his own business presents and he believes his most challenging moment is yet to come.

He loves chess, basketball, movies and bicycles. He admires online based businesses and envisions his business one day becoming the number one in mining and export of ore in Africa, thus becoming a global leader.

Seun lives in Lagos with his wife and kids.

#trends #innovation