The BusinessDay CEO Magazine May 2017

MARK 

ESSIEN 

LEADING 

MILLENNIALS 

ON 

ENTRE- 

PRENEURSHIP 

// 

LEADERSHIP- 

CONVERSATION 

WITH A 

TOP 

AFRICAN 

MONARCH 

AFRICA’S 

LORD OF 

E-COMMERCE 

eyo bassey 

PAYPORTE.COM’s CEO MAKES PROFIT IN RECESSION 

BY LEVERAGING ON A MILLENNIAL CENTRIC 

INVESTMENT 

THE MENTALITY OF WINNING (PART 1) BY AUSTIN OKERE 

MAY 2017

CON 

ON TENT 

ENT CON 

TENT 

04 

17 

ENT 

32 

MEET 

MARK Essien 

EYO 

BASSEY 

23 

Design/Illustration: www.getupinc.com 

Content: BusinessDay & GetupInc 

07 

The Mentality 

of Winning (Part 1) 

the 

impostor 

Syndrome 

A DAY IN 

THE LIFE OF 

OMAWUNMMI 

Copyright, 2017 

CONTENT

The BusinessDay CEO, May 2017 | 03 

MEET 

MARK Essien 

Since establishing Hotels.ng in 2013, Mark has overseen the growth of hotel listings on 

the platform from just over 100 at launch to over 7,000 hotels in 21 regions of Nigeria. 

Hotels.ng had millions of transactions in 2014 alone.


MARK’s 

since 

2013. 

Hotels.Ng has carved a name for itself not only in the country but on the continent. Let us 

know your journey to Hotels.Ng? 

I started of as a software developer, looking for something I could build that would have a 

huge impact on the African continent. At the time, it was impossible to book hotels online, and 

I thought to myself - why? This exists all over the world, why don't we have it, in spite of all the 

hotels in the country? So I sat down and built it. And people liked it and started using it - we 

gained traction and were able to build a business out of the idea. 

You have a keen interest in startups and are known to give solicited/unsolicited advice 

especially on social media. Is this influenced by your experiences when you were building 

your business or do you have a knack for these things? 

I believe that startups and businesses built on technology are among the most important 

things we can do as humans - we push the boundaries of knowledge, while at the same time 

making things easier and more convenient for people. I'm very passionate about startups and 

see them as an important developmental tool for our country.


...once I 

accept that 

the entire 

journey will be 

challenging, I 

see every 

challenge as 

being an 

intrinsic part 

of the road, 

and thus not 

disturbing... 

Mark Essien 

Photo: Techpoint.ng


In 2015, Mark made it 

to Forbes Africa’s 30 

under 30 rising stars 

to watch in Africa, as 

the company had 

thousands signed on 

the platform. 

In the course of your career, what has 

been the most challenging moment and 

how do you deal with those generally? 

I believe that in building a business, every 

moment is challenging. The challenging 

moment of today will seem like a small 

thing tomorrow - for that reason, I tend not 

pick any particular moment as being the 

one big challenge. The journey is 

challenging. This philosophy is what also 

helps me deal with it - once I accept that 

the entire journey will be challenging, I 

see every challenge as being an intrinsic 

part of the road, and thus not disturbing. 

Apart from Hotels.Ng, what else are you 

doing or looking to do? 

Hotels.ng remains my main focus. I believe 

it's best to focus one's energy in one thing 

at a time, because then one can have the 

highest impact possible. 

What one piece of advice would you give 

young entrepreneurs on the Tech scene. 

I'd say that they should launch fast, fail fast 

and move on to something new as quickly 

as possible. When something is going to 

fail, know as quickly as possible. When it's 

going to work, keep pushing and making 

it bigger. 

What are your top 3 tech must haves? 

A phone with a big screen, a kindle and an 

internet connection.


the 

impostor 

Syndrome 

-Olamide Olakunle-Jinadu 

Do you ever have that feeling that you 

don't deserve your successes? That 

you might be found out soon 

because you feel like you don't even 

know what you're doing? 

You might be suffering from what we 

know as the impostor syndrome. The 

impostor syndrome is felt as a result 

of having to meet up with your 

accomplishments and the need to 

succeed constantly. A person 

suffering from impostor syndrome 

feels the need to be right at all times. 

This is common with young achievers 

especially in the era of social media 

and the arts. I can speak for myself as 

a content creator, who is seeking to 

build her own brand, I tend to have 

battles with myself concerning what I 

post on instagram ,that is, whether 

they are of value or aesthetically 

pleasing, and worse if anyone even 

cares. 

I've learnt how to deal with this impostor 

syndrome in three ways: 

1.Acknowledge that it's the impostor 

syndrome: the downside to the impostor 

syndrome is that it oscillates between sheer 

arrogance and the fear of being found a 

fraud, so it's important to find a balance 

between these two emotions where you can 

truthfully analyse yourself and your work. 

2. Run your own race: From experience, I 

have seen a number of people plus myself 

seeking to hasten their process in order to 

catch up with someone they admire or their 

peers who are succeeding in that same field, 

and this is how you actually become a fraud. 

You start doing the same things that they do, 

having the same conversations and in this you 

can miss the unique message you were meant 

to deliver. Stop comparing yourself to that 

other person, and focus on your own voice. 

3. Pause and reflect: Relax, then regard how 

far you've come and appreciate the fact that 

there was a time that you didn't know what 

you know now. Look back on projects you are 

proud of, and then look forward to doing 

more.


ACHIEVING THE 

IMPROBABLE 

THE BIG BROTHER PHENOMENON ENDED A FEW WEEKS AGO AND 

ONE OF THE GREATEST TALKING POINTS IS HOW A NIGERIAN START- 

UP FORCED ITS WAY INTO OUR COLLECTIVE CONSCIOUSNESS 

WITHOUT SPENDING INORDINATE AMOUNTS IN ADVERTISING. 

Payporte’s Clever Engagement Strategy 

You’ve heard it a million times and you’re going to hear it again; Digital transformation has 

radically altered the way customers perceive and consume brands. While Jumia and Konga 

invested a combined 800m naira in aggressive advertising campaigns between December 2016 

and March 2017, Payporte bucked the trend and placed its bet on engaging its target market. The 

company invested its marketing spend on “Big Brother Nigeria”, a controversial yet deeply 

engaging platform created to entertain a diverse section of the Nigerian audience. 

It turned out their bet was spot on; this past edition became the most watched, earning an 

average 9 million votes weekly for the 11 weeks the program ran.


“ within a few 

hours, the 

items had 

sold out! 

” 

The company exhibited 

its flagship fashion 

products using 

housemates as models, 

and offered promotion 

after promotion to 

ensure customers 

purchased their 

products. 

Over the course of the program, Payporte found interesting ways of integrating its brand and 

products into the show. From a purely brand building perspective, Payporte achieved as much 

recognition as Konga and Jumia, spending less than 250m in the same period. As fan interest 

and support for the program grew, awareness and affinity for Payporte increased, while 

Nigerians lived and breathed the Payporte brand through the lens of their favourite Big Brother 

Housemate. 

Connecting with Customers & Driving Consumption 

Today’s consumer is more connected than ever before and brands must continue to find 

seamless ways of joining those connections, rather than echo their messages in the spaces that 

surround them. Payporte’s somewhat disruptive approach to forcing itself into the 

consciousness of Nigerians evolved a new approach e-commerce companies need to consider 

to reach new markets. 

The company exhibited its flagship fashion products using housemates as models, and offered 

promotion after promotion to ensure customers purchased their products. By leveraging its 

deep understanding of its target market, customers were teased into making purchase after 

purchase in support of and solidarity with their favourite housemate. 

During one of the episodes of Big Brother, the brand launched a new line of “Ankara” clothing in 

its “1k Store”. Contestants on the Big Brother program were mandated to wear some items from 

this line. Interestingly, the items were priced above 1,000 naira. Payporte offered a clever 

discount and within a few hours, the items had sold out!


Measure the Right Metrics 

Mark Jeffery, one of the foremost proponents of data-driven marketing was spot on when he 

suggested that the neo-narcissistic world we live in leads companies to measure the wrong 

metrics. CMO’s are fixated on how many Facebook followers they have or how many “likes” a 

tweet has garnered. It is common practice for marketers and “influencers” to purchase 

“followers” so that they can be perceived as famous. 

While these metrics are important and should be tracked, they should serve for indicative 

purposes only. Engagement brings “conversion”, so it’s important that brands keep apprised 

of their engagement numbers. What’s more important however, is the need to track the 

conversions that occur as a result of campaigns. Payporte correctly took stock of its 

engagement indicators but continued to adjust its activities to drive conversions. Their 

Facebook, Instagram and twitter engagement figures tripled, while their website experienced 

unprecedented traffic. What mattered most however, was the number of conversions those 

engagements brought. 

The Results 

In focusing on conversions, Payporte grew its daily orders fourfold, from around 600 orders 

daily to over 2,500 orders. That’s an impressive 300% rise over three months. And it was not 

only the volume of those transactions that was impressive. The value increased significantly, 

with single orders averaging 6,500 naira per customer. Furthermore, their “1k store” 

consistently sold out on items and waiting lists had to be created for a few of their popular 

items. If the business continues on this track, Payporte might become the first e-commerce 

company to breakeven by December 2017, which is no mean feat for a wholly indigenous, 

micro-funded start-up with a pea-sized marketing budget compared to its more buoyant 

peers who have benefitted from millions of dollars in foreign investment. 

This makes Payaporte our 

number 1 brand 

to 

watch in 2017.


THESE BOOKS ARE THE TALK 

OF “LITERARY AFRICA” TOWN 

BY NMADIUTO UCHE 

Writing about, for, and from the continent has built a robust body of work we sometimes 

refer to as Contemporary African Literature. When writers are rewarded with prizes and 

prestigious nominations, it is exciting to see a celebration of these voices. 

Some of these writers are debut novelists and others are pen veterans. Here is a list of ten 

novels written by Africans making world literary headlines. There are stories told anew, 

history given a contemporary feel, and delicious food writing. Which one of these will you be 

adding to your reading list this month? 

1. Stay with Me by Ayobami Adebayo 

This 29-year old author who is no stranger to the pen is sending ripples across the literary 

scene with her debut novel. Stay with Me features some of the strongest female characters a 

reader has come across on paper. It follows the story of Yejide, a woman who is scorned for 

being married and childless. When she finally conceives, her children are born with the pains 

and stigma associated with Sickle Cell disorder. A Sickle cell carrier herself, Ayobami has


fused emotions with great storytelling in a novel that readers can empathize with. Stay with 

Mehas been shortlisted among 6 novels for the prestigious Bailey's Women Prize for Fiction 

formerly known as The Orange Prize. 

2. Homegoing by Yaa Gyasi 

If you would like to read a year of history in every page of a novel, you will be at home with 

Homegoing. This New York Times bestseller delves into 250 years' worth of history in 300 

pages. In a sweeping tale that involves two sisters separated by slavery and colonialism in 

18th Century Ghana, Yaa Gyasi lends readers a different pair of eyes. This much-talked about 

novel is Yaa Gyasi's debut novel and has carved her a spot in Contemporary African 

Literature. Readers have called it emotional, brilliant, and thought provoking. Homegoing was 

a finalist for the 2017 Pen/Robert W. Bingham $25,000 Prize for Debut Fiction. 

3. Black Moses by Alain Mabanckou 

This is the 11th novel of prolific writer and professor of African Literature at UCLA, Alain 

Mabanckou. A native of the People's Republic of Congo, Mabanckou has penned a comic tale 

of a young man's quest to right the wrongs in this country. The main character is reminiscent 

of Robin Hood and the backdrop is 1970s Congo on the brink of a revolution. Black Moses 

has been long listed for the $50,000 ManBooker International Prize for Literature. If it wins, the 

prize money will be split between the author and English translator, Helen Stevenson. 

4. Long Throat Memoirs by Yemisi Aribisala 

This collection of essays is a labor of love by Nigerian food connoisseur, Yemisi Aribisala. 

Written over the span of 8 years, Long Throat Memoirs seeks to satisfy an insatiable appetite 

of Nigerian food and storytelling. This is a great read not just for the Nigerian palate, but for 

anyone whose senses come alive by aromas and well-told stories. Published by indigenous 

press, Cassava Republic, Long Throat Memoirs was the 2017 recipient of the prestigious John 

Avery Award. This award puts Yemisi Aribisala among a list of winners that includes renowned 

chef, Jamie Oliver. 

5. The Woman Next Door by Yewande Omotoso 

Writer, Yewande Omotoso has a distinct way of weaving heavy weight subject matters into 

stories told calmly. In The Woman Next Door, readers meet two women, two races, and 

apartheid South Africa broken into two. The nuances of aging and how women relate to each 

other are explored in this novel that moves at its own pace. The Woman Next Door is 

Yewande Omotoso's second novel was long listed alongside 15 other novels for the 2017 

Bailey's Women Prize for Fiction. 

6. Americanah by Chimamanda Adichie 

Both Americanah and its author, Chimamanda Adichie need no introduction. Going on a 

journey that spans race, hair, and feminist politics with its protagonist Ifemelu has been 

likened to witnessing Adichie write unhindered. Americanah found its way to the New York 

Times bestselling list, was called the first great African novel of the new century, and was 

snatched up by the duo of Lupita Nyongo and Brad Pitt for a movie adaptation. Most recently, 

Americanah beat out powerhouse novels to win the inaugural One Book, One New York 

contest. This means that in addition to the over 500,000 copies this novel has sold,millions of 

New Yorkers will be reading and discussing this story told like no other.


7. What is Not Yours is Not Yours by Helen Oyeyemi 

If you like a good short story collection, What is Not Yours is Not Yours should be in your 

library. For starters, the title is intriguing and the stories run along a cerebral stem. The mystics 

behind locks and keys are explored in unrelated settings and character mixes. Helen Oyeyemi 

is not your conventional writer and this collection is an eclectic display of the tales she is 

capable of constructing. There is dark comedy embedded in tales of love as well as set 

boundaries around seemingly mundane things. What is Not Yours is Not Yours is Oyeyemi's 

first collection of short stories and has recently bagged her the $5,000 PEN Open Book 

Award. 

8. Behold the Dreamers by Imbolo Mbue 

When news hit the streets that this novel in manuscript form won a million-dollar book deal 

from publishing company, Penguin Random House, everyone went berserk with joy. Readers 

root both for the Cameroonian author, Imbolo and the Jonga family, a trio of Cameroonian 

emigrants whose struggle to get a Green Card in the United States will unite and rattle them 

simultaneously. The American dream is the subject theme explored in this well-told story. The 

2008 recession fueled by the collapse of giant financial firms gives the plot more weight. This 

is the classic immigration story given a different plot and voice. This novel won the 2017 

PEN/Faulkner $15,000 Award, a first time win for an African author. 

9. And After Many Days by Jowhor Ile 

In a simple and often criticized structure, debut novelist Jowhor Ile's novel is set in Port- 

Harcourt, Nigeria during a tumultuous regime. A child goes missing and his family is 

shattered looking for him. The interwoven stories are free-floating, sometimes connected, and 

at other times not. This writing style has been compared by readers to life itself. This novel has 

been shortlisted for the £15,000 Etisalat Prize for Literature, which will be announced in May. 

10. Mr & Mrs. Doctor by Julie Iromuanya 

The pursuit of the American Dream is revisited in this novel that features a couple living a life 

of lies in pursuit of a Green card. The question, what happens if you wake up from the dream 

is explored. Julie succeeded in building shady characters that readers can still empathize 

with. This novel's mix of irony, satire, and great storytelling also won it a spot among the 3 

novels shortlisted for the Etisalat Prize for Literature.

Oga Condur 

by Mayowa Alabi Damilola

The BusinessDay CEO, May 2017 | 15


EYO 

BASSEY 

O W N S A F R I CA’ S 

FA ST E ST G R O W I N G 

E - CO M M E R C E 

CO M PA N Y, W I T H 

M I L L E N N I A L S B E I N G 

H I S M A J O R 

C U STO M E R S !


There is still space to 

carry about 15 more big 

e-commerce companies 

in Nigeria 

Tell me about your background and your 

journey to Payporte? 

My name is Eyo Bassey. I come from a family 

of five and I lost my dad when I was 11. I 

studied Pure and Applied Physics. I’ve 

worked in a couple of places before now. I’ve 

always been IT inclined right from my 

university days. I served in Abuja during my 

youth service and I got into a company called 

Socket Works where I was employed as a 

Global System Administrator from where I 

w a s p ro m o t e d t o b e c o m e H ead o f 

Restructure Engineering and afterwards I 

branched off to set up my own company. The 

company was spinning off to Ghana and they 

needed a couple of us to move to Ghana and 

I was interested in making that move. So I 

ended up setting a company called Rom Flex 

which is a Software and System Integration 

company and this gave birth to Payporte. 

In one of your past interviews, you said that 

t h e r e i s e n o u g h s p a c e f o r m o r e 

advancement in e-commerce in Nigeria. Do 

you still feel that way? 

I strongly feel that way; there is still space to 

carry about 15 more big e-commerce 

companies in Nigeria and the fact is simple. If 

you look at the numbers and statistics, there 

are three submarine cables terminating in 

Nigeria and this has helped internet 

penetration in the country. We also currently 

have 4G networks in Nigeria. We also have 

data solutions from the telecos’ which has 

greatly improved as well. What I’m saying in 

essence is that internet penetration has 

greatly improved and so we have 18 million 

people on the internet every week in Nigeria. 

The numbers also say that there are well over 

35 million people surfing the internet daily. 

This 35 million people are potential 

customers for e-commerce companies. So if 

we take just 10% of that number which is 

roughly 3.5 – 4 million people, to patronise e- 

commerce companies and speaking from a 

Payporte point of view, we can process up to 

100,000 orders a day and with the statics 

earlier given you will need not less than 35 e- 

commerce companies the size of Payporte to 

meet up with the demands of 3.5- 4 million 

Nigerians. That is why I maintain that Nigeria 

has the space to accommodate 15 more big e- 

commerce companies. 

With the rise in digital services in Africa, do 

you think it has made marketing your brand 

easier and if not what major challenges do you 

still face right now? 

Of course with the evolution of digital service, 

with respect to marketing, we have companies 

like Facebook, Google, Yahoo and we also 

have the other marketing companies that have 

to do with marketing on the internet, it has 

helped. However the challenge with that is that 

most of their services are priced in dollars. 

Google, Twitter, charges in dollars, Facebook 

only started charging Nigerians in naira. So 

yes, it has helped our brand but that is not our 

main core of marketing. We do not spend 

more than 30% of our spending budget on 

digital marketing. We use TV – this has been a 

very potent tool from time immemorial, and 

we look at other medium of marketing. So 

digital marketing is not our main stay. It hasn’t 

actually done so much for us when compared 

to other forms of marketing that we have 

adopted. 

That’s interesting because most of the time, 

people are encouraged to go digital as 

against the traditional marketing path? 

It depends, digital marketing still works. I’m 

not saying it doesn’t. But what has worked for 

us at Payporte has been other forms of 

marketing outside digital marketing. We run 

digital marketing campaigns on other 

platforms. When starting up, digital marketing 

of course, is the way to go. But at a certain 

point, you will need to combine digital 

marketing with other forms of marketing.


FOR ME, 

CONVICTION IS 

EVERYTHING. 

You clearly have an entrepreneurial spirit 

and I guess Payporte was not your first big 

idea. So if not Payporte, what would you 

have been involved in? 

If I wasn’t here, I probably would have been 

involved in two things. I would have been 

practicing as a civil engineer somewhere or I 

would have been doing the things I was 

doing at my first job – building IT 

infrastructure and building IT capabilities for 

companies. So these may have been 

alternatives for me outside of Payporte. 

As an entrepreneur and businessman, what 

is the one advice that you would tell any 

millennial that wants to start up a business? 

Be clear on what you want to do. Because 

once you are not clear on what you want to 

do, you are going to fail. So, clarity - that’s my 

own opinion. The challenges will come on 

your entrepreneurial journey. What will keep 

you going against all odds will be your personal 

conviction before you started up what you are 

doing. That has played out with me a lot. We are 

just trying to recover from the recession as a 

nation. How do you think a business like 

Payporte survived this period? It’s the 

conviction. We just had to keep moving against 

all odds. If it had just been guesswork, which is 

what happens with a lot of young people, we 

will not have survived till this moment. I find that 

a lot of young people come out of school with 

the mindset that the internet business is the inthing 

and look for one or another internet 

business to start up, some of them can write a 

few lines of code and believe they can start up a 

business without giving much thought to it, or 

follow the path of a friend without having a 

strong conviction of what it is they want. So for 

me, conviction is everything. It will help you 

weather the storms of business in an 

environment like ours.


For a business that is this big, do you have external funding? 

When Payporte was about to start, I spoke to a friend of mine and 

told her I wanted to start an e-commerce company and was in 

need of partners who were willing to invest in the business. She 

asked how much I needed and I said I needed $250,000. So she 

promised to talk with some friends on my behalf. So I followed up 

with her and made some pitches. She was able to link me up with 

an investor who was willing to invest $100, 000 not for a stake in the 

business but to be repaid after one year of operations. So that was 

one. At some point, my mum had to use her house as third party 

collateral to a bank to help me raise N15 million for the business. 

So basically funding has been from friends and family which is 

what I encourage every young intending entrepreneur to do. If 

your friends and family cannot trust you for your business then no 

one else will. If they can’t give you the initial funding you need, 

throw some money at you out of trust, then you’ll find it very 

difficult. We have since repaid the $100,000 loan I received from 

my friend. Is that all that has grown the business? No. What we’ve 

had to do is to be very very prudent so far. Rom Flex, which is the 

parent company of Payporte, has been able to build a couple of 

other solutions which they have been able to vend and sell and put 

back proceeds to Payporte. We are also planning on going to the 

markets in September to raise $100 million for our expansion. 

That’s been our funding story. We’ve kept our business lean, and 

we have wonderful staff that understand and have bought into the 

vision. We’ve also got wonderful service providers that understand 

and agree to our payment terms and this has made our sustenance 

as a business a reality. 

EYO 

BASSEY 

CEO at 

PayPorte Global 

Systems 

Where do you see Payporte in the long term? 

I’ll start by sharing some of our short term goals. First of all, our 

immediate goal this year was to end cash on delivery operations 

which we have successfully done. Then the next is to make sure that 

we become a profitable venture by December 2017, meaning that 

all of our funding must come out of the business. By July this year 

we also hope to expand physical operations into two countries; 

South Africa and Ghana. 

In three years, we want to be the most preferred e-commerce 

company in sub-Saharan Africa and that is clearly in sight for us. We 

want to make sure our coverage reaches the Horn of Africa that is in 

places like Uganda, Kenya, down to the Cape Coast and that axis. 

In five years, we want to be rated the top e-commerce company in 

the world. So these are our long term goals. A journey of a 

thousand miles begins with a step but these are some of our key 

goals. Of course, I’ll definitely love to retire early too (and become 

a missionary at 45). 

Interviewed by 

Olamide Olakunle-Jinadu

The BusinessDay CEO, Mar 2017 | 35 

LEARN \ WORK\ ACCELERATE 

WWW.THEGRANARYNG.COM 

WWW.THEGRANARYNG.COM 

FOR MORE INFORMATION CONTACT 

CHARLIE@THEGRANARYNG.COM 

FOR MORE INFORMATION CONTACT 

CHARLIE@THEGRANARYNG.COM 

OR CALL 0818 578 8553 

OR CALL 0818 578 8553


A DAY IN 

THE LIFE OF 

OMAWUNMMI 

A look at a 

typical day of 

one of the most 

influential and 

powerful people 

in Africa.


Omawumi 

Megbele: 

Music Video Director, 

Film maker 

& Television Director 

HOW DO 24 HOURS IN THE LIFE OF A 

POWER PLAYER UNFOLD? HERE'S WHAT THE 

DAY PLANNER FOR OMAWUMI MEGBELE 

LOOKED LIKE ON TUESDAY 2NDMAY, 2017 

6:00 – I woke up and said my morning 

prayers. 

7:00 – Prepared my kids and dropped them 

off at school. 

9:00 – Returned home to relax with a tall mug 

of black coffee and watch Law & Order 

(Criminal Intent), Tinsel and Zee world. 

11:00 – Headed to my office for a live studio 

rehearsal with my band. 

15:00 – Went to lunch with my husband. 

16:00 – Returned to my office to handle 

pending paperwork and brainstorm on new 

creative ideas for my brand. 

17:00 – Hopped on a business call with my 

elder brother who is my business partner in 

charge of our supply and logistics company. 

18:00 – Went to The Bridge, Lekki to meet 

with my team of executive producers for my 

upcoming movie. 

19:00 – Met briefly for drinks with Waje at 

Cocoon restaurant, Ikoyi. 

20:00 – Went home to prepare dinner for my 

family and afterwards I put my daughters to 

bed. 

22:00 – Retired to my work study to do some 

creative writing. 

Favorite Quote 

There are two quotes I refer to a lot because 

of the truth in them and they are as follows; 

“What is obvious may not be real” 

“Comparison is the thief of joy” 

Business men and women I admire the 

most 

I admire Russell Simmons, Diddy and 

Beyonce for obvious reasons. They started 

off in the music industry and have used the 

platform extensively in the business world. 

People you admire and why? 

I admire Mo Abudu because of how far she 

has gone in the media industry. I also 

admire Onyeka Owenu because her music 

is evergreen and finally Angelique Kidjo for 

staying true to her music and showcasing it 

to the world. 

If you could do anything else but what you 

do, what would that job be? 

I would be a Teacher because it is a 

purposeful occupation which helps crave a 

path for the younger generations. 

Doctor or Astronaut? 

Laughs, Doctor definitely. 

What does Africa mean to you in one 

sentence? 

Africa is my home and home is where the 

heart is… I love Africa. 

What could you not travel without aside 

from your cell phone? 

My clothes definitely because I can't be 

naked!


I’m increasingly weary of the notion that life is about the endless pursuit of 

passion as if we were created only to experience its pleasures. It’s acutely 

palpable when I meet with young entrepreneurs, particularly the creative 

ones. Millennial’s are incessantly encouraged to “live the life they dream 

of,” wholeheartedly following their passions, reinforced by social media 

quotes extolling the virtues of entrepreneurship. Putting entrepreneurship 

in perspective, I have observed that many enthusiastic founders, having 

found their passion, have no clue that they actually need to understand key 

business principles in order to flourish. Businesses need to be nurtured, 

staffed, structured, driven, funded, and scaled. It’s all fun and games until 

he work begins. 

Each time I meet a CEO of an SME I go into question mode attempting to 

unpack their courage to push beyond fear, create a unique 

product/service, and meet the needs of a market. When I probe about cost 

structure, unit economics, price/volume mix, cash burn rate, gross margins, 

supply chain, UX and the feedback loop, many eyes quickly begin to glaze 

over. A few get into it and they grasp that with passion comes purpose and 

with purpose comes responsibility. If you want to be the CEO of a 

company, you need to deeply understand everything about it otherwise 

you are engaged in a hobby funded by family (hopefully not third party 

investors) with a likely fantastic social media presence. To my surprise, a 

number of entrepreneurs don't have a well defined business model and/or 

they are poor at communicating it. Entrepreneurship isn’t for the fainthearted 

and it’s not for the unprepared either. The skills you need to 

succeed include grit, tenacity, focus, hunger, knowledge of your space, and 

humility. From that humility is where the fallacies of passion end. It’s all well 

and good to be passionate about being an artist, photographer, coder, 

web series content creator, womenswear fashion designer but 

products/services generally don’t tend to sell themselves. 

Have you identified your target customer base and do you have a plan to 

generate sales? Who/Where is your addressable market and why do they 

want/need your product? How do you reach them in the most cost effective 

manner? Do you have a handle on production and how quickly can you 

scale? Someone competent has to care about this stuff. What’s your 

differentiation strategy vs. the competition and how will you make certain 

that you stay ahead of innovation? The more I ask, the less I hear. Some 

people, young and not so young, are following their passions because it’s 

exciting. Penetrating a market with a unique value proposition, building a 

sustainable business, and making a difference are assumed entitlements 

and not strategic goals. 

My advice to “young” entrepreneurs: If you are pursuing your passion bu 

despise the business aspects of your endeavor, find a suitable co-founder 

who loves it. Together you will soar. Owning 50% of something is far 

superior to owning 100% of nothing. If the latter is what you aspire to, I 

wish you well with your hobby. 

THE FALLACIES OF PASSION 

By Aishetu Fatima Dozie


6 

on 

six tips 

How to 

Be PRODUCTIVE 

-Modupe Sowunmi 

“Being busy and being productive are two different things, focus on the latter” 

As someone who likes to dedicate my time to people and things that are 

important to me, I'm always looking for ways to be more productive so I can get 

more things done and waste less time, so today I'm sharing tips for getting lots 

of stuff done. 

1. MAKE YOUR MORNING ROUTINE NON-NEGOTIABLE: 

I hear morning routines are a great way to set yourself up for success! I've not always been a 

morning person...well lately, I spend some time in the morning basically chilling before work - 

Yup CHILLING!. Besides my morning devotion, I try to think through my activities for the day 

or the week, sometimes I work out or just stretch, do some chores, listen to upbeat music and 

mentally prepare to have a great day. It actually depends on my mood that morning. 

Sometimes I spend the entire morning on Instagram and then find myself rushing off to work, 

other times It's my make up that takes the better part of my morning. But either way, a healthy 

morning routine is a great way to stay productive.


62. USE A PLANNER. 

seriously don't Know what I'll 

do without my planner.I've 

discovered that planning 

t a s k s a h e a d o f t i m e i s 

essential for getting things 

done and also maintaining 

my sanity. Whether you 

choose to use a digital 

planner on your phone or a 

book, scheduling things out 

is super important! While 

everyone uses planners 

differently, I like to get indepth 

with mine. A few things 

I do are: 

- W e e k l y & m o n t h l y 

overviews. At the beginning 

of each month I'll write down 

goals for that month then I'll 

break those goals down into 

action steps over the weeks. 

It's super satisfying and it is 

important in making sure that 

you're taking the necessary 

steps to getting what you 

want accomplished! 

- Daily to-do lists. You know 

how I break down my monthly 

goals into weekly actionable 

tasks? Well, I always make a 

to-do list for the next day 

before bed. It helps me to 

sleep better with a clear head 

and then I feel like I'm ready 

to take over the next day! 

Planning specific tasks and 

action steps ahead of time 

helps avoid stress and the 

feeling of having endless 

tasks! 

3. GET YOUR SWEAT 

ON! 

Working-out boosts your 

mood, brain and ability to 

focus.It also relieves stress 

and is a nice break from the 

daily grind! AND it boosts 

confidence. In fact, there's a 

million reasons why you 

should incorporate at least 30 

minutes of exercise into your 

daily routine and boosting 

your productivity is one of 

them. So just DO IT!!! You can 

at least start with frequent 

walks in the morning or 

evening. Basically, aim to stay 

active. 

4. HAVE A CLEAN, 

ORGANIZED ROOM/ 

W O R K S P A C E / 

ENVIRONMENT. 

Keeping my room tidy makes 

me feel productive already. 

Trying to get work done in a 

s c a t t e r e d e n v i r o n m e n t 

stresses me out. A clean, 

simplified workspace really 

helps you focus! 

Cheers 

to getting 

lots of things 

done this 

year! 

5. SCHEDULE LESS, 

SAY "NO" MORE. 

Constantly scheduling more 

than I can handle makes me 

feel rushed and behind. And 

then when I DON'T get 

everything done? Sigh! I feel 

Super unproductive (even if 

I've achieved some things). 

Schedule LESS and get 

MORE done. Also, learn to 

say "no." If you're not setting 

boundaries then eventually 

your sanity will go out the 

window! 

6 . F I N A L LY, YO U 

HAVE TO RESPECT 

YOUR TIME, YOUR 

GOALS AND YOUR 

WORK. 

I g n o re i n v i t ations a n d 

interruptions and take your 

own work and deadlines 

seriously! You're worth it. 

Your work is worth it. Your 

goals are worth it. Hopefully 

you find some of these tips 

helpful! I know that being 

consistent at these things will 

really help me and everyone 

e l s e reading t h i s s t a y 

productive. 

see more on 

www.gingerlie.com


Smart-up 

for start ups 

THE START UP SMARTIES! 

Growing up, we all loved and still love 

smarties, the muiticolour pebble like mini 

chocolates that gives us so much joy 

recession fades away! 

Bringing that joy and thrill to 

entrepreneurship, here are the start up 

smarties every entrepreneur must consider 

carefully and adopt! 

S- Solve a problem! What's business that is 

not meeting a need? Is that one business? It is 

very important for your business to solve a 

problem and meet a need. Meeting a need is 

one of the biggest steps towards 

sustainability! 

M- Manage your time wisely! You don't want 

to waste too much time on an idea that is not 

meeting a need or an idea that has failed 

consistently. You must find a way to be 

flexible and adopt changes which emanate 

from your feedback actively. Time 

management is key in business. 

A- Attention to details: As you start off your 

work you must be open to feedback from 

your customers and consumers. You must pay 

attention to feedback and the details that 

come with them. 

R- Read and research: Read books about your 

line of business and intervention. Take online 

courses as well as other things and activities 

that can build your capacity in preparation for 

the work you will do. Market research is also 

key to every entrepreneur's success. 

T- Tenacity: Tenacity or determination is an 

essential quality of a start up entrepreneur. 

Challenges will definitely come. There will 

be days you will ask yourself if all you are 

doing is worth it at all. On days like that, 

take the tenacity smarties and keep 

pushing. 

I- Invest your own resources: Investing 

your own resources indicates seriousness 

and commitment to the cause you are 

pursing. It also encourages investors to 

open their wallet and invest in you and 

your business. 

E- Go the Extra mile: Extra represents the 

innovation angle to the service or product 

you are offering. Do something extra! 

Anything to make you stand out and 

separate you in a very saturated market. 

S- Start small: And when you have done 

all the above, don't forget to never 

despise the days of little beginning. 

START SMALL! DREAM BIG!! 

WORK HARD!!! 

TILL NEXT TIME, KEEP 

PUSHING! 

-Adepeju Jaiyeoba


KINGS 

in Africa creating 

meeting times for 

millennials. 

AN EXPERIENCE FROM GETUPINC’S 

CREATIVE DIRECTOR- TOMI WALE, MEETING 

THE OONI OF IFE: 

HRH 

Oba Adéyeyè Eniìtàn Ògúnwùsì 

Ooni Ojaja II 

I got a call that one of the country’s very top royal fathers heard about me and called 

to see me to have a conversation on some of my thoughts. So Ife happened within a 

24 hour period! 

The conversation was beyond what’s normally expected from Kings in Africa. 

Above the beautiful protocols that made me feel closer to the source, The Ooni of 

Ife is the kind of leader we should have at this time.


Tomi with 

the Ooni of Ife 

“His attention to 

details and 

systems 

thinking 

abilities would 

be good for 

academics and 

boy, he 

understands 

and is creating 

the characters 

that should 

aggregate the 

future of 

” 

AFRICA.


I found his fusion of old tradition and contemporary sense of 

innovation very fascinating. A lot of beautiful things are going 

on. 

About four sentences into answering the first question he 

threw at me, he paused and said “I like you, you are such a 

futuristic guy”, I smiled and told him Thank You ‘Kabiyesi’ 

(meaning Your Majesty). He allowed me continue and the 

ways he landed my sentences, nodded and shook his feet in 

acknowledgment made me know some people actually get 

my ‘seemingly weird thoughts’. 

These are some things you’ll find out about him: 

1. He is very hard-working. 

2. He spots mediocrity within seconds. 

3. He has an outstanding global & authentic approach to 

thoughts. 

4. He respects order. 

5. He listens and takes words seriously! 

After some hours, the conversation finished around 12am and 

I was happy about the future of Nigeria. 

You know, keep the thoughts going. I was 

really encouraged that evening that there 

are some people in strategic positions who 

want to listen to us and fast track things! 

AFRICAN MILLENNIALS, LET’S KEEP OUR 

THOUGHTS GOING! 

-Tomi Wale 

Crative Director, GetUpinc


The Mentality 

of Winning (Part 1) 

by Austin Okere 

Founder, CWG Plc & Entrepreneur in Residence, 

Columbia Business School, New York. 

The thing about winning and losing is that they are both self-reinforcing. 

The Gunners as a metaphor 

As an Arsenal football club fan, how do I convince anybody that the team is good or that 

coach Arsene Wenger is doing a good job, given the long spate of trophy draught and 

inexplicable losses in the current season both in the English Premier league and the 

Champions league?


TAKING THE STEPS REQUIRED TO REVERSE 

YOUR LOSING SPREE AND SHIFTING INTO A 

WINNING MENTALITY RESTORES YOUR LOST 

The mentality of winning and losing – the Tyson 

effect 

Winning reinforces your self-confidence and 

instils an inherent mythical fear in your 

opponents. The whole team is energized and 

ready for the next win. Losing on the other hand, 

engenders a loss of confidence and a 

significant level of demystification, inviting all 

manner of opponents to fancy their chances at 

you, as happened when the erstwhile 

unbeatable heavyweight boxing champion, 

Mike Tyson lost to a lowly challenger, Buster 

Douglas in 1990 in Tokyo, Japan. This was 

followed by a string of losses leading to a less 

glorious retirement, highlighted by his biting off 

the ear of an opponent, Evander Holyfield, 

during a boxing match. Thus, was dimmed a 

golden opportunity of going down in history as 

one of the greatest heavyweights of all time. 

Reversing the pattern – Leicester City FC finds 

her magic 

Taking the steps required to reverse your 

losing spree and shifting into a winning 

mentality restores your lost glory, seemingly 

obliterating the past string of losses e.g. 

Leicester City Football Club; after parting ways 

with coach Claudio Ranieri (ironically the same 

coach that propelled them to the dizzying 

heights of winning the English Premier League 

title last year) have suddenly become 

unstoppable again; beating the better rated 

Spanish side, Sevilla FC for a place in the 

Quarter Finals of the UEFA Champions 

League. Even as first timers, they are the only 

English team still flying the British flag where 

great teams such as Manchester City and 

Arsenal have crashed out. 

Winning is 'In spite of'; Losing is 'because of' - 

the Usain Bolt determination 

A loser's mentality is strongly underpinned by 

a culture of excuses; finding 'very good' 

reasons why you didn't make it, or why you 

lost; as if this will magically convert the loss 

into a win. An earful of balderdash at best. 

A winner's mentality on the other hand, is 

centred on 'making it' in spite of all odds. A 

very good example being Usain Bolt, who not 

only holds the world record for the fastest 

human dead or alive, but also winning three 

gold medals in the 100m, 200m and 4X100m 

races in three consecutive Olympics; Beijing 

(2008), London (2012) and Rio (2016) – Now, 

that is a winner with a strong winning 

mentality. 

Believe me, it is never a walk in the park. He 

knew what he had to do when overconfidence 

brought an embarrassing loss to his training 

partner and competitor Johan Blake. Blake 

beat Bolt to second place in both the 100m 

and 200m at the 2012 Olympic trials in 

Jamaica, and this was just about a month to 

the London Olympics. 

Just imagine the pressure that Bolt would 

have felt. In the beginning he resorted to 

excuses; he blamed the 100m loss on a poor 

start, and the 200m on a poor bend. Realizing 

that a golden dream was evaporating before 

his eyes, he quickly faced reality in his 

following statement capturing his renewed 

attitude “it's all about work and just needing to 

get my things together and get it right. I've got 

to get in the work and figure out what I did 

wrong”. And with that he got himself in shape 

in time to win both events at the London 

Olympics. He did work very hard and 

deserved the results and his place in history 

(watch the documentary on him titled 'I am 

Bolt').


Realizing that a golden dream 

was evaporating before his 

eyes, he quickly faced reality in 

his following statement 

capturing his renewed attitude 

“it's all about work and just 

needing to get my things 

together and get it right. I've got 

to get in the work and figure out 

what I did wrong”. And with that 

he got himself in shape. 

The Nigerian Super Eagles – Our 'Invincible' of old 

I remember with nostalgia when all the immigration officers in the countries that I visited in the 

1990's became very friendly upon sighting my Nigerian Passport, reeling the names of our 

Super Eagle players and asking me if I knew them; Jay-Jay, Kanu, Amuneke, Keshi, 

Okewchukwu, Taribo, Oliseh, Rufia, Amokachie, Yekini, Siasia, Ikpeba and the host of others . 

These were the glory days of Nigerian soccer, where other teams' reverence of our players 

conferred on us very deep respect as a country. Not so these days; we have managed to get 

ourselves stuck in a losers' mentality to the extent that 'the giant of Africa' did not even qualify for 

the last edition of the African Nations Cup in Gabon this year. 

We managed to win the bronze medal at the Rio Olympics, but who remembers, after the 

unbelievable story of our players being stranded in America and arriving only hours before their 

opening match; what manner of organization? The headlines in the global media were enough 

to make every Nigerian bow their heads in shame. The Mirror succinctly captured it thus 

“Nigerian Olympic football team stranded in Atlanta hours before first game after unpaid flight 

bill”. 

You did not need to read the body of the copy to see how shoddy our organization could be. 

How can we aspire to Gold with this attitude? 

ITCHING TO FINISH THIS BUT ENSURE YOU LOOK OUT FOR THE NEXT EDITION TO SEE 

HOW THIS ENDS.

Female leaders 

are rated more 

highly than men 

in the category of 

establishing 

stretch goals. 

INCLUDE WOMEN. 

www.getupinc.com

Keke Hustle 

by Martin Ekwe 

FOR ADVERT PLACEMENTS & OTHER ENQUIRIES 

Linda@businessdayonline.com 

lynda4real@yahoo.com 

08026011296

The BusinessDay CEO Magazine May 2017

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?