HOW TO DETERMINE A SUITABLE BUSINESS: LESSONS FROM ENTREPRENEURSHIP SEMINAR, IGBO OWU POLYTECHNIC
HOW DO YOU DETERMINE THE BUSINESS TO DO?
You must start by thinking about things that people need...
Stop your thinking at some of these needs that you can provide...
Pick one of these needs you want to fulfil...
-Hanafi Olanrewaju Rabiu
(...during the presentation at Entrepreneurship Seminar, Igbo Owu Polytechnic)
In collaboration with the Coinkwara Programme, La Casera, Diamond Bank and many other top-notch companies, the Department of Business Administration and Management of the Igbo Owu Polytechnic successfully held a day Entrepreneurship Seminar (on Thursday March 1, 2018) and a day Mini-Trade Fair (on Friday, March 2, 2018).
As explained by the HOD of the department, Mr. Afolabi Taofiq, Igbo Owu Polytechnic with its temporary site at Osere, Ilorin is doing its best to become the best polytechnic in Kwara state hence it devotes special attention in inculcating relevant skills into the students and also collaborates with other organizations in achieving this goal.
THE SEMINAR DAY
The seminar day can be rightly divided into three major parts namely, the students’ presentations, Guest speakers’ session and words of encouragement session.
The students came up with four innovative products which they presented to the entire audience. These products include:
Bluetooth and cellular technology controlled Light system
Spicy Loaf Bread (assorted with fish)
Unique Body Perfume and Room Freshener
T-Nut Cereal Powder
Guest Speakers’ Session
The opening remark was made by the Proprietor/Rector of the School, Chief M.S. Adeyemi. Chief Adeyemi who is also a Management Consultant took the students and all other participants present into the entrepreneurial journey and an entrepreneur’s life. He advised the students to conduct a proper feasibility study before starting any enterprise. He explained that one should not dabble into a business just because you see that someone who is into that business is living large or driving a big car. He relayed the story of how his bakery business easily failed because he failed to conduct proper feasibility study before jumping into the business. He said, he entered the business based on the sayings, “there is money in bakery business”. He also explained that any business which one wants to engage in must be legal and it is also necessary to study the government’s policy carefully as it makes and destroys businesses.
The Coinkwara Programme Director, Mr. Hanafi Olanrewaju Rabiu discussed the steps to take in starting a successful business enterprise. He divided the steps into 8 steps which include:
1. How do you determine the Business to do?
2. Learning how to fulfil the people’s need that has been identified
3. Adding Innovation to whatever product/service you are providing to fulfil people’s need.
4. Get a Mentor and or a Consultant
5. Create your business plan
6. Source for Start-up Capital
7. Register and Launch your Business
8. Continue to Learn and Persevere
Words of Encouragement Session
Other guests representing big companies such as the La Casera, Diamond bank, Wema Bank- Alert, Fidelity bank, etc also encouraged the students, most especially the ones that presented their innovative products to ensure they continued producing the laudable products and make them available to the general market.
THE MINI TRADE FAIR
The mini trade fair was filled with products from the students, companies and Coinkwara Entrepreneurs. Some of the products displayed and sold at the trade-fair include:
Ayat Ponmo, Abdat products (Garri, Yam Flour, Maize flour and pop corn), Fizzy Shoes, Dana Plastic, La Casera, Devon King’s Vegetable Oil, Ori Base Products (Soap, lotion and cream), Smoked Fish, Textile materials and the products made by the students.
The mini-trade fair was happily ended with both sellers and buyers praising the initiative and all the collaborators.