Ayo Alonge, [email protected]
Quitting his salaried job was all the bold step needed for George Abulele, the Chief Executive Officer of Innovative Graphics Services Limited, to hit the breakthrough in business, as he now sits atop a fast-growing small scale business engaged in visual communication, branding and printing operating for over 14 years.
Abulele revealed to Daily Sun how he tackles the litany of challenges of double taxation and infrastructure deficit as well as the attendant constraints occasioned by stiff competition in his industry. He also talks about how government can support SMEs growth in the country.
Background
I am from Ika-South Local Government Area in Delta State, but born and raised in Lagos and had my educational life here. A graduate of Business Administration from the Lagos State University and Certificate of Proficiency holder in design applications from Hewlett Packard. I am a brand and visual communications expert with over 14 years of branding experience. The company is essentially a visual communication and brand implementation company in Nigeria. It was established as a fully fledged brand implementation company, and since its establishment, we have continually grown our clientele base through creativity and hard work. The joy, excitement and fulfillment I derived in seeing the outcome of my work while undertaking my duties as a creative and brand artist in my days of working as an employee, fired up the passion and desire for more adventures. Coupled with excitement of the good results I achieved from being totally involved in the start to finish of our products, I believed I could do more, as the state of employment I was at that time could no longer contain me anymore. In order for me to explore and express the hidden skills and abilities in me, I discovered that I had to leave to start up my own firm. Though the decision was quite a tough one but overcoming the fear of the unknown was the breakthrough for me.
Capital raise
While engulfed with the passion I had to start up my own firm and to be a force to reckon with in the branding industry, there was the need to leave my previous employee. In order to achieve this, I had to save up cash gifts and grants from friends and families, but my major source of capital were the funds I saved up from my salaries when I was in paid employment.
Challenges
The challenges I face in the business are quite enormous, but I will just mention a few. Challenges range from double taxation systems to poor infrastructural facilities which run at a deficit, as we all know; epileptic power supply, hostile business environment and lack of capital at affordable interest rates
Mitigating challenges
With the business environment becoming unfriendly on a daily basis, I had to strategically tackle the challenges I experienced by first having a proper understanding of the sector in which I operate, and coming up with solutions that reduce my overhead costs on a monthly basis. I have also explored alternative sources of power for my business as it solely relies on same and giving adequate consideration to other sources of projects funding.
Risks and losses
There is literally no business that does not have one risk or another. Risk is inherent in business. The act of opening an establishment is, in itself, a risky venture. In my line of business, there are several risks involved, ranging from poor business decisions to copyright infringement, theft of intellectual property, cyber-attacks, low patronage resulting to loss of profit and in some cases entire loss of the business capital; customer property damage and injuries. Permit me to cite an example on customer property damage. I can remember one incident that happened while I was about to deliver a client’s printed brochures. It was quite a large number. While en-route to the client’s office to deliver the items, a water tanker had an accident and water spilled all over the truck delivering the printed brochures. Sadly, water and paper are two strong enemies who do not see each other face to face without a strong battle. Struggling to see how we could savage the situation, we almost got our vehicle damaged as well. Upon assessing the extent to which the brochures were damaged, we discovered that we could not even deliver up to 10 percent of the brochures. We had to go and reproduce another sets of brochures for the client and ended up running at a huge loss.
Patronage
The harsh economy really does not undermine the fact that firms and individuals still and will continue to requests products and services from various vendors spanning all over the country, which further breeds the principle of demand and supply. In the midst of this harsh economy, I am still able to get patronage from clients by creating a niche for myself and taking advantage of the major problems experienced in our industry as a stepping stone, which is prompt delivery of quality services at budget friendly rates. I also take out time to properly educate my clients on the best possible and cost effective ways to achieve their demands.
Competition
Competition in our line of business, I must say, is very fierce. However, understanding your competition is key to the success of any business. Even if your product or service fills a unique gap in the market, there are always other firms and vendors offering something similar, or there are other ways to satisfy the same customers’ need. The key when thinking about your competition is to learn what makes the customer choose one product or service over another. The different options that customers consider are usually competitors. So thinking out of the box and doing what your competitors do not do puts you in a choice position with your client.
Business goals
Our primary focus is on the prime elements that assist organisations to offer themselves to the receiving public using the offerings of present branding, marketing communication and print tools. We have worked persistently at achieving our vision of transforming the concept of visual communication and branding related products in Nigeria. The company has, within its years of operation, been involved in diverse and ambitious design and printing projects all over the length and breadth of this country. Our business is creative designs, corporate brand design, brand implementation and general prints. We have the creative and technical ability to handle all visual communication design, brand implementation and general prints needs. Our creative ability, technicality, exposure and wealth of experience have been further emboldened by our desire to add value to our clients. We have developed a brand repositioning process that encompasses a complete process, ranging from ideas development, to designs, presentation and finally to actualisation of project designs. In accordance with our quality standards and to ensure good business relationships with our clients, we do not only design but we also focus on being at prompt service for maintenance of some newly added updates and information to designs and premium maintenance of executed projects. Our short term goal is to be the most reliable visual communications and brand implementation expert, projecting excellent first impression through the provision of creative and functional branding/marketing communication tools, and in the process become a professional of positive repute in the society at large. Our long term goal is to become and remain the leading and most sought after visual communications and brand implementation expert not just locally, but globally.
Promoting SMEs
There is quite a lot that government can do to promote and encourage SMEs in Nigeria. They can create and support specific grants and small business loans to SMEs, establish economic development programs by offering start-up incentives and taking frantic steps to create a business-friendly environment. They can also encourage SMEs by improving the infrastructures needed for businesses to succeed and lastly, the government can offer support to SMEs through a number of schemes to reduce tax liabilities.