Oladoyin Olayiwola is a 24-year old entrepreneur who studied Economics at the University of Lagos. She is the chief executive officer of Ollyzsole, a small-scale firm that produces leather shoes, belts and sandals.
She went into this business in 2017 to tap into the increasing demand for footwear in the country, estimated at over $2 billion.
“I saw the opportunity to grow an indigenous manufacturing hub for footwear production as well as make people understand that anyone, irrespective of having formal or informal education, can manage a business that has to do with creating things with their hands,” she says.
She used her personal savings to start the business. The savings were the money she made while doing her one year compulsory National Youth Service Corps.
Nigeria has a population of over 200 million people, according to the United Nations estimate, all of who are striving to meet the basic needs of life which include shelter, clothing and food. Shoes and belts have become essential parts of clothing for an economy dominated by young people, most of who are below 18 years.
“My financial knowledge and educational background have also helped me to plan the business’ finances in such a way that it can fuel the business at its current stage,” she says.
She discloses that the opportunity in the industry is enormous. According to her, potential SMEs who have interest in the business needs as small as N30,000 – N50,000 to start.
She says interested entrepreneurs do not have to wait until they get all the money to buy the required machines but could simply get a filing machine and some other basic tools.
“To be successful in the business, you need to acquire the required knowledge first, which you can then expand on as you go,” she recommends.
“You also need to get the best materials to help you achieve the best outcomes. Creativity is another thing you need to develop, given the nature of the business,” she tells Start-Up Digest.
She says the entrepreneurs need other fundamentals such as financial management, marketing, sales, and customer service.
In making the Ollysole brand unique, Olayiwola ensures she uses the best materials and pays close attention to details regarding current trends, tastes and feedbacks when fulfilling each customer’s orders.
Olayiwola has had her fair share of ups and downs, with disappointments emanating from different ends, including friends who felt she was wasting her time. She also faces the challenge of combining work with business as well as sourcing for customers. However, with the support of her families, she was able to surmount the headwinds.
She currently works as a business operation analyst in one of the leading outsourcing and recruiting firms in the country.
She explains that since starting the business, her biggest achievements have been to build and grow a quality brand for herself within the one-year period.
“The number of footwear I have successfully made is something I am proud of. Positive feedback from customers and growing referrals point to the fact that I am creating value,” she boasts
Due to her drive for youth development, Olayiwola volunteered EduBridge Academy to train and offer career advisory services to both undergraduates and graduates students to help them get job placements in an economy bedevilled by unemployment that is as high as 23 percent.
She is one of those who believe that people learn handworks and become their own bosses in order to survive in a world that is enveloped with volatility, uncertainty, complexity and ambiguity.
Like every other entrepreneurial goal, Olayiwola says she has a great plan of expanding the business as well as her market horizon to create an indelible niche for her in the industry.
“I look forward to building a global brand,” she says.
“I aspire to make my business attractive to anyone, especially people with formal education, who may say that being involved with a handwork is a job for people who don’t have a formal education or didn’t do well in school. In my case, I did not only go to the university, I also finished with a first class degree,” she says.
In her closing words, she encourages all Nigerian women to inculcate the habit of believing in themselves no matter the challenge on their way. “You need to believe in yourself and your ability,” she says. “It’s not going to be a smooth journey but once you know what you want for yourself, focus on the goal and ensure you take one step each day that will drive you closer to your goal.”
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