Five Things Start-Ups Can Learn From Olatorera Oniru, C.E.O. Dressme Outlet

The world of start-ups is one brimming with opportunities for small scale enterprises to grow into problem solving, value adding giants. But it also has pitfalls- or, more precisely, deep whirlpools and deadly gorges. Unfortunately, the latter set of features is more commonly hit upon by start-ups, especially in their first two years. The business landscape of Nigeria is dotted with success stories of new enterprises which surmount the odds to become major players in their industry, but it is more than equally decorated by the ruins of once budding businesses that wilted under the scorching heat of a harsh, unforgiving business climate.

One start-up, Dressme Outlet, may present as a fine picture of how a new business should go about surviving and growing in its formative stage. Owned by Olatorera Oniru, the e-commerce platform (dressmeoutlet.com) provides an online marketplace for Made-in-Africa fashion accessories, beauty products and homeware. Although the company was launched in January, it has grown considerably, and now has a large customer base with demand increasingly coming from other African countries, as well as the United States.

Oniru, who spent several years working in the corporate setting, started Dressme Outlet with her savings. Her business clearly hasn’t ‘run into’ rapid growth by chance. Her attitude to enterprise provides valuable lessons for intending and new entrepreneurs who aim to not be counted among the struggling and the ruined.

1. Venture Into Your Chosen Path With Courage: Oniru gave up what could be described as an exciting career which saw her work for some of the world’s biggest companies, in order to start up a new one. For her, setting up “the Fashion Amazon of Africa” was worth the sacrifice. She saw a gap in the market, was convinced that she could help fill it and got into the thick of the action. The point is this: be sure that it’s a space in which you can excel; then take your chance.
2. Drawfrom the Experience You Have Gathered from Your Previous Work: According to Oniru, her experience of working in such firms as the Bank of America, Ericcson, General Electric, and MTN was the best training she could have wished to get in preparation for her present role as head of a new and growing business. Of the lessons she learned from these companies, she says: “You are learning from companies who are 200-plus years old. They have developed through start-up stage, growth stage, and have been able to stand as Fortune 500 companies”. She describes these experiences as “invaluable”. The work ethic and organizational skills required to steer the ship of nascent setups cannot be acquired by reading books or listening to lectures on the topic. They are best gotten by experience.
3. Learn About Your Industry: This can be done by research, but again, learning by experience cannot be substituted for. The complexity and diversity of the industry in which Dressme Outlet operates mean that they have had to gain a better understanding of all the processes involved in the making and distribution of the products bought and sold on the platform. Oniru says that they “want to be able to understand the entire fashion supply chain- from cotton farming to finished garment”, in order to help them plan and work appropriately with the people at each point of the chain.
4. Learn New Skills that Are Relevant to the Industry You Are Starting Up: Because her business also requires and has a studio in which products are shot, Oniru had to learn photography. She says she did this to enable her keep up with the job her photographers were doing, and remain ‘on the same wavelength’ with them in terms of understanding and communication. Knowing how to use your industry’s tools of practice, even if not absolutely essential, can give you a real advantage, as it helps you develop a hands-on approach to managing your business (even if you don’t handle the nitty-gritty of it), as well as gives you a competitive edge.
5. See Competition as a Driver, Not as a Downer: Oniru speaks competition as a driving force and says that Africa needs more of it. According to her, “it drives growth and success, and it is good for helping us all be at our very best”. Her attitude is that, rather than being an obstacle on an otherwise smooth growth path, competition actually spurs businesses to reach for higher standards.

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ikenna-nwachukwu

Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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