Ikechi Isinguzo is the chief executive officer of LC Solutions Ltd, a business that provides event management and planning services. Isinguzo built his event management and planning firm on zero capital.
With a burning passion and vision to be a leading provider of creating quality concept designs and consultancy services in Nigeria and globally, Isinguzo established his business in 2011 without capital or financial support, except for his ideas.
“I started with a zero capital. Our first job was based on trust, and it has remained that way up till today. Our clients pay mobilisation fee that keeps us thriving,” he said.
Embracing the ideology of Rachel Botsman, who said; “Most businesses that we interact with are built around money, and money only goes so far. Money is the currency of transactions. Trust is the currency of interactions.”
Today, the business administrator cum entrepreneur has built a commercial empire in event management and planning.
Propelled by an indomitable passion he ventured into event management, with a mission to make his services uniquely different and relatively affordable without lowering the quality.
His business ethics were clear for all to see, ‘render quality service at an affordable price’, putting smiles on the faces of his clients, he created a niche for himself as the best among his peers.
Speaking on the challenges beclouding the industry in Nigeria, Isinguzo reiterated that every good event manager faces several problems and challenges in a country such as soaring inflation and its concomitant adverse effects, and epileptic power supply, among others.
“Cost of production has drastically gone high. Also, the epileptic power supply is a contributing factor to the rising cost of production, which in return affects the prices we charge our clients per time,” he said.
LC Solutions Limited’s founder/chief executive officer blamed the surging cost of living and fluctuating electric supply for the low business turndown witnessed in the sector.
He called on the government at various levels to step in to encourage local production of some of the materials. Besides, he believes that if soft loans are made available to investors in the sector, it would help the entrepreneurs thrive as the business is capital intensive.
According to Isinguzo, what has been helping his company to navigate through the slippery economic space in Nigeria is having a good understanding of its clients.
Besides, he said building a cutting edge of customer relationship and excellent service is the niche the company has over its peers.
The event management and planning industry, he reiterated is still virgin and growing in Nigeria’s emerging market, hence, the more reason the government should support it.
“The industry can generate good revenue for the government if given proper attention,” he said.
For the upcoming entrepreneurs in the industry, Isinguzo encourages them to stay focused and work tirelessly in creating new designs that will help sustain their businesses.
“They should be led by passion as the business is time and energy-consuming. Most importantly, remain patient to see the business grow,” he counseled.
