Excerpts:
What’s it like being the Managing Director of Future Software Resources Limited ?
The experience has been challenging but I think I have been able to surmount all the challenges. It has also been very interesting. It’s been wonderful seeing the market evolve and how the market has changed over the last few years. Nigeria has become more important for businesses and even for the ordinary people who would want to have access to the internet or who would want to have contents that they want to peruse .
How did you start ?
I started from my first year in the university. Even after NYSC programme , I continued working, but there was a time I took a six-month break and tried to figure out what I wanted to do and by working for different companies, I realized I didn’t like being told what to do, because I had a lot of ideas. I wanted to be able to create my own solutions, I wanted to be able to do much more than I did for some other people I worked for.
What things did you have to do to get the company started?
I went for a slim and lean way of working. I tried to make it as small as possible and all I had to do was build a website and then created a business card. But above all, I must add that my dad had registered this company for me while I was in secondary school without knowing what I would study in the university. I then studied Bio-informatics which is computer science and biology. When I came back to Nigeria, I realized I couldn’t do anything with Bio-informatics, because it was not a well known field here, so I decided to explore the IT part of the discipline. I then worked for different IT companies before incorporating Future Software Resources Limited and re-branding it. Initially my dad wanted me to join him in his company but it was something I didn’t want to do because both of us are very strong-headed and we probably quarreled every single day. Aside this, his focus is quite different from mine, so I decided to explore opportunities that I found interesting to me.
How have you been coping with competition from several big indigenous players in the industry?
I always say there is a market share for everybody no matter how big or small you are. There are always people who need your services and will patronize you. All you need do is be at the right place. So, for me, it’s not a question of the big competition out there, though I must admit that I lost some jobs but I also win a lot of jobs. At the end of the day, it all boils down to building a brand, a reputation, and figuring out how I can stand out from the crowd. My unique selling point.
How were you able to raise capital for the startup?
As I said, I started at the very basic and that is the module I have kept and practised over the years. We really never needed to raise capital. It’s been basically about re-investing in my business and not taking much money out. At that time, I had a lot of savings and I lived on that and every single kobo that we made from the business went back into the business. So, it was something we started very small and very basic and we only spent on things that were really necessary and not things we would like to have. Till date , the firm is still very small but I must say it is efficient. When you are small and you don’t have as much money as the big boys, you should be creative and figure out ways to be more efficient, automate your operations and build a strong business team.
What does it take to be a female IT entrepreneur like you?
It takes a lot of will power. In anything you want to do, you must know what you want. I knew what I wanted to do.You need to want anything that you want to do in life. When you want it, it would happen, if you don’t really want it, it won’t happen. Most times I didn’t have any money and people just offered me jobs. They would say just come and take this job, but those were the days I needed to decide what I wanted. I asked myself if I wanted to build a brand or be an employee.
What are some business lessons you have learnt over the years?
It’s crucial to listen to your customers. Deliver on time and don’t over-promise or under-promise or over-promise and under-deliver. I learnt to run my business very efficiently. It’s also important that you communicate and be responsive. Always remember that you are running a business and not a charity. Remember that you have family, friends and associates but always know that you are running a business.
How difficult or challenging have you found your business enterprise and how have you been able to cope?
There are challenges all the time. I cannot go into any specific challenges at this time, but I’ve been able to overcome them the same way anyone overcomes challenges . One thing I always tell myself and made my philosophy is to admit when I need help and I always find somebody to help. It’s crucial to admit it when you are wrong and never make the same mistake again.
How profitable has your business been?
I must say that last year, we doubled our clientele and we are hoping to do the same again this year. In the last year we have experienced growth. However, I think it can be more profitable, but it is still a small company that’s growing and we are not looking at profitability yet. Our focus is to become Africa’s ultimate IT solutions provider. The business is very big and we are working on all the different servicing areas that we have to work on.
How do you think government can best help IT businesses in Nigeria?
The government can always do more to be honest. If government wants businesses to grow and help create jobs and reduce unemployment it needs to encourage businesses through tax breaks. We need steady electricity and infrastructure for people who want to run IT business but these two are not readily available most of the time.
What’s required to start an IT solutions business like yours?
The first thing you need is that you should be able to provide the solutions yourself because you probably don’t and might not have the resources to employ people, so you need to understand that you need to have the skills. You must also have a very good network because that is where it starts. Nobody would call you out of the blue and say “I saw you somewhere and I want you to work for me.” You must use the network that you have. You need to be very creative too and analyze your market and your competition and figure out one of the best solutions that you can provide.
What’s the best advice you have got in life?
The best advice I have gotten in life is that you have to fake it until you make it.
How have you been managing your resources?
The main thing is for you to be realistic. You can’t pay yourself a salary that is not available, you can’t pay your staff salaries that are not available. You have to be able to sustain the company on a monthly basis such that even if it’s a bad month, you would still be able to survive and pay staff salaries. The same thing goes for your rent too, don’t rent an office that is too massive. Don’t spend unnecessarily.
What are your unique selling points?
We have relevant solutions always. Like I have said, we provide online solutions which include website design, web hosting and online social media management. We provide everything that a business needs to go online and survive online . Every company requires online services and somebody to manage it for them and this has sustained our relevance. Our e-learning and IT security services are also our selling points. With the growth of technology in this market, e-learning is becoming more and more relevant as well as IT security too. This is because people now realize that it’s not just about having a network in place but making sure that they have relevant solutions to secure that network and also even secure their computers and other gadgets too.
What’s Future Software Resources Limited all about?
We are an IT services provider that is focused on online solutions, e-learning and IT security. Under e-learning, we provide e-learning services for corporate as well as education institutions. We are about to launch an e-learning platform called I-connect e-learning solutions and it’s basically an e-learning platform that’s focused on science subjects for secondary school students. Students can go there and access these materials. Students can peruse past question papers and learn at their own pace using any device such as computers, mobile phones or i-pads. We also have corporate solutions for e-learning, where firms can set up their own e-learning environment. We also help them put their own content development solutions there too. The other area which I mentioned, is IT security where we provide vulnerability testing and data recovery services.
In the next five years, what should we expect from your firm?
Our vision is to become Africa’s premier online solutions provider and for us to do that, we have to become a household name and we need to make sure that we remain relevant and roll out more and more services. If we do these more and keep re-investing in our business, I think in the next five years, we will definitely be one of Nigeria’s IT solutions provider.
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