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Airemen Solomon, 29,  spoke  to OKECHUKWU NNODIM on the survival strategies for small businesses in a harsh economy

 What kind of business do you do at Funclub?

We are into importation of luxury, casual and fashion watches and accessories. I distribute to wholesalers, super markets, boutiques, among others, across the country at cheap prices. I also deliver to retailers. I’m also working on inaugurating an online web platform for direct online sales soon. This initiative was conceived based on the fact that online sale is currently taking over physical transactions world over.

 What inspired the business name, Funclub?

I chose this business name because I was a teenager when I started a video game centre with the name. My peers branded me with the business name. They also referred to virtually everything I do by my business name. So, I decided to continue with it and it has been one name that distinguishes me from others who are in the same line of business. The name Funclub is dear to me and it is a brand identity which I cherish.

 What motivated you to go into this line business?

I always tell people in business and in life to do what they like. This is because when you go for a job that you are passionate about, you will enjoy doing it anytime. From my teenage days up till date, I have always engaged in business activities that appear like ‘play’ to me. To cut it short, I’m a watch freak. That was what motivated me. People should be involved in businesses that they enjoy doing. This will make you want to always work and by so doing, you will realise that you are making money with ease.

When you make money with ease and enjoy your job, you won’t drag your feet in the morning to work. You will be energised always because you see your job as another source of fun that brings money to you. I like watches a lot. Whatever business I do, I do it because I have a personal attachment to it. And this has been such a huge driving force and I’m encouraged to continue in this line of business because I like what I am doing. I am passionate about it. So, when people do what they like, they won’t complain much about it.

 How long have you been in this business?

This is my fourth line of business; and I started it in the early months of 2012.

 Who are your clients and how do you get them?

My major clients are owners of supermarkets and boutiques. I also deliver goods to housewives who engage in the selling of fashion items. I also see the other members of the general public as my customers, especially in the retail segment. I get my clients through contracts, personal marketing, and online marketing and from Nigerian forums such as nairaland.com.

I encourage fresh graduates who are in businesses to take advantage of online marketing as this will boost their performance and improve their turnover.

 Do you need so much money to start this kind of business?

Not really, but if you want to go into a large scale import, you will need to have some thousands of dollars and above. It really depends on what goods you are buying and in what quantity. But you should not be discouraged as a starter. Discouragement should not be allowed if you must succeed in this line of trade. The important thing is to get the adequate skills and know how to satisfy the demands of your clients. For instance, a Tag Heuer wristwatch can cost about N450,000. And this is just one wristwatch. But some clients may need it and it depends on your capacity. Also, an entrepreneur can decide to supply only rubber watches to children. In this case, it is possible for one to supply 100 pieces for N20,000. So, the size of your business depends a lot on some factors which you will have to consider before venturing into it.

 Will you advise fresh graduates to go into this kind of business?

Sure! They should not wait for the jobs that are not forth coming. If you have a good capital, please do. There is no need to waste time waiting when you have the financial wherewithal to start this kind of business.

 Do you need government’s support to succeed as an entrepreneur?

If it comes, I will take it; but I won’t crumble without it. I’m a survivor of all conditions. But government support will surely boost my business. So, government support is necessary, but without it, one can definitely survive.

 What are the common challenges you face?

Life itself is full of challenges. I face a lot of challenges. For example, my shop was robbed recently. This, therefore, shows that insecurity is a big challenge. It can sweep away in one day what you have laboured for in many years. Also, debts which may slow down your turnover could be a challenge in this business. Sometimes, shipping goods down to Nigeria or to a desired location may be difficult. Also, time differences between the United States and Nigeria, as well as China and Nigeria give us some sleepless nights. But in all, challenges are what make us real business people better; they wax entrepreneurs stronger in their businesses every day.

 How do you confront them?

I take them as they come, and hope for the best. It is not always easy, but with persistence, you will conquer. However, different entrepreneurs adopt different strategies in order to achieve success. So, it all depends on the entrepreneur.

 Is the Nigerian business environment favourable for small businesses?

It is tough but interesting. You have to be persistent and have a ‘Never-say-never’ mentality. And I believe if you can make it in Nigeria, you can make it anywhere. Young entrepreneurs must not allow the challenging operating environment deter them in their businesses. To succeed, you must learn to persevere in business.

Copyright PUNCH. 3rd January, 2014

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