RegCharles Foundation Interviews Female Entrepreneur Ini Onuk

  Connect Nigeria recently interviewed Mr. Peter Mbama, the Managing Director of RegCharles Finance and Capital Limited. In anticipation of the Female CEO Roundtable event being held by the organisation, the Reg Charles Foundation interviewed renown speaker, trainer, mentor and international consultant Ini Onuk, who will be speaking at the Female CEOs Roundtable taking place on the 10th of July, 2014. The event is anticipated to be groundbreaking, informative and packed with information that every female entrepreneur needs to take their career to the next level. Here is how the interview went. RG: Tell us about who you are  IO: I am Ini Onuk, Lead Consultant, ThistlePraxis Consulting Limited RG: Why did you decide to participate at the Female CEOs Roundtable?   IO: I got an invitation to the event and a lot of follow up efforts were made from officials of the convening organisation. The objectives align with my personal values and this is a way to contribute to the work RegCharles does and also share ideas and learn from other entrepreneurs. RG: What would you say it takes to be a successful female entrepreneur in Nigeria? IO: I will demystify the ‘female’ aspect as I believe it further feeds the perception that there is something wrong with being female and an entrepreneur. What it takes to be an entrepreneur in Nigeria today is blind hope and mind-bending hard work. I say hard work and not smart work as many people profess because in my opinion, success from scratch is built from hard work and not smart work. Attaining a legacy takes time and so, hard work cannot be substituted. There are no short routes. Every entrepreneur (male & female) must be willing to hope blindly, no matter how uncertain the future looks without the necessary ecosystem to support your vision and peculiar challenges in our economy as well as many African economies. At the same time, he/she must be ready to work twice the average required to succeed in other climes. It is the same for both male and female CEOs although for women, she may need to work harder to earn her credits as a successful person. RG: What are the biggest challenges you face as a woman in business?  IO: As a business woman in Nigeria, certain challenges are constant: multiple taxation, unpredictable markets, epileptic power – which trumps overhead costs, lack of merit in pitching and award of contracts. In addition, if the enterprise is a service business like mine, then its an additional challenge as we still do not give as much value to it as we should; other challenges such as: absence of protectionist policies for indigenous consulting, disregard for intellectual property, unwillingness to pay premium for intangible services and a few strange men who show no respect for women. RG: What skill does a woman who wants to be in business need to develop?  IO: I usually advise both male and female entrepreneurs to master their craft – hone it, master it and be sound enough to deliver on it any day, anytime whilst still possessing a good grasp of global trends and developments. Second, you must be able to sell your business. No Sales Director, Business Development Officer or PR/Marketing Agency can sell your business better than you. If you cannot sell, you need to learn and do so quickly. Selling here refers to articulation of business idea, ability to align products and services to every possible market segment, ever-ready ability to pitch your business – in an elevator, aircraft and other speed networking opportunities. RG: What industries do you think need strong women leadership in Nigeria? IO: Are women leadership styles stronger than that of men? I would not want to generalise but affirm that women deliver a more rounded sense of judgement infused with passion and empathy, every time. This is a sign of strength and not weakness, as often perceived, irrespective of the sector or industry. Every single industry needs the difference that women bring and there are women doing that. RG: Who is your female role model in the business world?  IO: I think the phrase role model has been abused. I do admire a few women and men because of their work, track record, sense of purpose, humility, willingness to help other climb the ladder of success, integrity and performance both in the business and social spaces. RG: What is your favourite motto/quote? IO: My motto is: I am passionate about everything I do. It describes me, totally. My favourite quote is: There is a special place in hell for women who do not help other women – Madeline Albright, Former US Secretary of State. RG: What are your top three favourite books?  IO: I would say my titles: The Eagles’ Dance, Break The Alabaster and Things I have Learnt. I am constantly humbled at how much impact they have made on the lives of those who have read them. RG: What advice would you give to young aspiring entrepreneurs? IO: Entrepreneurship is a decision to be taken with careful consideration and the benefit of a lot of prior information. It changes your life forever and is not a path for the chicken-hearted, most of the time. I have an issue with the current wave of entrepreneurship in Africa and will continue to advocate quality of enterprises over quantity of enterprises. Not everyone should be an entrepreneur. Not everyone can be a successful entrepreneur. Don’t leave your 9-5 job because you ‘want to do your own thing’; you need to be clear that this is what your truly want to do and will see it through. I will also add:

1. Think long-term and carry the picture of the largest version of your enterprise – and this does not mean becoming Dangote in a decade – at all times. It will fuel your passion when you need a reason to continue or are faced with the temptation to quit;
2. Be willing to split the pie. It is more rewarding to own a tenth of a large pie than a small pie;
3. Invest everything possible to always be the best in your field – giving any global or regional alternative a good run for a pitch;
4. Success does not start with spending or sharing the first profit. Build, reinvest, build, reinvest and keep repeating that circle;
5. You will need a lot of perseverance and emotional support.  However, only you will be available to give that to yourself. Remember that.
6. Be ready to consider partnership or collaborative opportunities – sharing the limelight does not make you less competent – people hardly respect limelight huggers.