Damilola Ajibola, 25, is the CEO/Creative Lead Dami Ajibola Lagos, a shoe manufacturing company in the city. At 21, he started a leather company that manufactures shoes in Nigeria, he told RUTH OLUROUNBI in an interview. Born to academics (his father is a professor and mother a doctor), Ajibola hopes to hold a PhD one day but for now, he is focusing on growing the company he started with only N80,000 from his savings.
You started your business four years ago. Tell me; was starting the business worth it? And what are the successes or failures you’re measuring this by?
Yes, starting out the business was worth it, not just because of the returns but because I’m happy to do it & it’s putting food on the table for others as well. Then the lows, I have had delays in deliveries, disappointed on quality a few times but all that pushed me to do better and lead, by paying attention to details & not compromising on quality, that’s going great so far.
Was this the first time you started a business or you’d started some before?
No, it wasn’t. Starting was a bit of a challenge testing hands, having little or no knowledge about how business in the real world was, getting exploited for your ignorance and so on, but all those were very necessary to early experiences which I’d say were stepping stones to a better place.
What inspired you to go into shoe manufacturing business? I mean, you did transition from civil engineering to running a premium leather goods company.
Laughs. Transitioning isn’t the word here because I am still very interested in exploiting business in the ‘gold mine’ that is construction & civil engineering, I have a registered company in that light and I’m working on that in the background. But about shoe manufacturing, I LOVE shoes, I got that from my dad, I had a lot in university days and one day a friend who I won’t forget on this journey; Victor Equere said “why don’t you invest your money into making your passion for shoes commercialised” and that was it! Here we are, four years after.
How much did you start your business with and how did you get the capital?
I started up by setting aside some money from what my parents gave me. I started with about N80,000.
Do you have a plan to further your academic studies or that part of you is done?
Yes, I do have plans to do a masters this year in Civil engineering; Structures and then proceed for a relevant MBA and then maybe a Ph.D. (Laughs).
Tell me about your company – how would you describe your company culture?
The art of paying attention to detail is a key culture I’m trying to imbibe into the very skin of everyone at Dami Ajibola Lagos. We are a team, from me to the craftsmen and to those learning the craft, we all learn from one another. The workers get extra on jobs well done in stipulated time, bonuses on express orders and time off on all necessary holidays. All customers also get the best quality for their money and we reward our loyal customers with discount cards, everyone is happy.
In your experience, what is the function of an entrepreneur in a society?
From my experience, the functions of an entrepreneur are (in no particular order): First to bridge the gap between the needs of consumers and the availability of said products and/or services, delivered with great value.
Second, to turn all the risk taking energies to financial successes that lead to growth and in turn job creation, which does significantly well for the economy of our Nation wholly.
Looking back, would you say you started your business exactly the right time for you, or you’d wish you had started earlier?
Well, I’d say I did start at the right time, I have no regrets what so ever, I did get relaxed at some point and sometimes I think we could have grown more but I’m very hopeful with the help of God, effort and consistency we’d buy all lost times.
and then