Your Business Magnet

“The best advertising is done by satisfied customers.”

Philip Kotler

I’ve always admired business, particularly small businesses. It takes real courage to create something, convince people to part with their hard-earned money, and build a livelihood from it. For many entrepreneurs, it’s not just about profits; it’s an expression, much like an athlete’s performance, where the scoreboard is your P&L, and every tool is used to improve your game and help you win.

Recently, I met Bola Adefila, the founder of Iré Dire, a Nigerian fashion brand based in Abuja. I discovered the brand through its biggest advocates—satisfied customers. Intrigued by the rave reviews, I visited her store during a recent trip to Abuja, not just to explore the brand but to gain insights into the dynamics of the African fashion movement.

The experience was eye-opening. Despite the hype around African fashion, most inputs are still imported—zippers, fabrics, dyes. Even locally celebrated items like adire have a supply chain heavily dependent on imports.  So is adire truly locally made? It got me thinking about the urgent need to develop local capacity to produce inputs and capture a greater share of the value being created —an important topic for another day.

Today, however, I want to share three insights from my chat with Bola that resonated with me, and serve as encouragement to both aspiring and established entrepreneurs: 

1. If you build it (well), they will come.
It may seem counterintuitive to launch an adire brand in Abuja instead of Lagos, but Bola chose to start where she was. Thanks to the quality of her products, she now has customers from Lagos, across Nigeria, and abroad (Canada, UK, USA). The takeaway? If you’re solving a real problem with quality, your customers will find you—no matter where you are.

2. Build on true insight and passion.

Thriving businesses are built on genuine insight and passion. For Iré Dire, the insight was that women want clothing that’s unique, comfortable, and functional. The passion came from Bola’s love for African prints. That combination gave her brand a clear identity in a crowded market. What unique insight drives your business? Is it a real passion, or are you just chasing trends where you’ve heard there’s money to be made?  That’s not entrepreneurship – that’s contracting.

3. Think big, start (very) small
In today’s world, there’s a growing belief that businesses need external funding to start. But if you don’t have seed capital, the first step in your business plan should be figuring out how to earn it, not necessarily ‘raise’ it. Iré Dire started as a side hustle, online for two years before hiring staff or opening a physical store. She started, and she started from where she was – literally.  You don’t need to quit your job to start—just start.

I left my ‘investigative’ session inspired, hopeful, and with a few new outfits in tow. Nigeria’s business terrain isn’t for the faint-hearted, but with clarity of vision, a sense of mission, and determination, it’s possible to build well and succeed.

Yours in Possibilities,
Topsy Kola-Oyeneyin