Each month, we sit down with a member of our community to talk about their work, their experience working out of CapitalSquare, and to just generally let the world know how awesome they are!
This March, our spotlight is on accountant turned serial entrepreneur, Busola Oyefeso. He is the founder of Tailorbricks, a property development firm as well as the lead consultant at Ubequity Consulting, a business strategy & marketing firm.
Who: Busola Oyefeso
What he does: Property Developer and Business Consultant
Working from CapitalSquare since: October 2016
Hello, Busola! Please tell us a bit about yourself:
My name is Busola Oyefeso, and I’m the founder of Tailorbricks, a property development firm. I’m also the lead consultant and founder of Ubequity Consulting, a corporate strategy, and marketing firm, with expertise across strategy, market research, go-to-market path, internationalization, product development, marketing campaigns and business advisory.
I have a bachelor's degree in accounting from the University of Ilorin, and I’m a member of the Institute of Chartered Accountants of Nigeria. I also have an MBA from the University of Warwick.
Prior to starting my businesses, I worked in Banking, financial services, Telecoms and Logistics. I founded Ubequity Consulting in 2010 and several years into running it, I developed a marketing plan for a real estate development firm, and I saw that there was an opportunity that I could take advantage of, so Tailorbricks was born.
You had an impressive career as an accountant. Why did you leave that to become an entrepreneur?
I’ve always wanted to work for myself. That has been my dream for as long as I can remember. For that reason, I chose not to work for large multinationals because I felt the perks and compensation would make me too comfortable to want to leave. From the beginning, I consciously worked towards my exit, learning as much as I could and saving to ensure I had a nest egg to fall back on.
Although I’ve worked in various capacities, it was always around accounting, so I thought I’d set up an accounting practice of my own. I realised though that the large firms like KPMG and the rest had a too strong a hold on the market, leaving smaller companies to compete for a tiny market share. This led me down the path of corporate strategy and business development.
What has been your biggest lesson so far? What would you do differently if you knew what you know now?
I would have started much earlier, and I would have also invested in another area of property development that would have yielded quicker returns. Selling property in Nigeria is challenging because the mortgage systems and facilities are rather inadequate. No regrets, though.
What are you working on currently? Any interesting projects?
Tailorbricks is currently working on a development in Arepo – Very close to Magodo - targeted at the middle class. It’s an estate with several units of 4bed semi-detached houses. The estate comes with all the modern amenities you can think of. It is selling for 20million naira per unit.
Ubequity has also just signed a deal with a US-based movie promotion and production company. We’re helping them navigate the Nigerian market. We recently facilitated their buying the rights to distribute and screen Oloibiri in the US, and the first screening held on the 3rd of February. We are their local representative in Nigeria, and we’re partnering with them to source movies of excellent quality that tell the African story.
What do you think it takes to succeed in Nigeria as an entrepreneur?
Resilience cannot be overemphasized. Running a business in Nigeria can feel like one curveball after another. From regulatory hurdles, which can stifle innovation to the absence of the most basic infrastructure, the need for resilience will help you pull through. There is also no substitute for hard work. You must put in the work. Mentorship and the right education are also key. You must stay teachable and constantly seek opportunities to learn.
What keeps you going despite all the hurdles?
My dream. I’ve always wanted to do my own thing. I’m also not undeterred by difficulties. I’m willing to do what it takes to see my dreams come to life. It’s safe to say that I’ve prepared myself adequately. I don’t see any hurdle as insurmountable. I see it as a problem to fix and a learning opportunity.
When you’re not brokering transatlantic deals, how do you unwind?
I never miss my weekly soccer games with my friends. In fact, I’m off to join them as soon as we’re done.
What do you like about CapitalSquare?
The ambience is awesome. The people are wonderful and best of all I love how the environment makes my business look professional without costing an arm and a leg.
Thank you for your time, Busola. It was great chatting with you!
I had a great time too.
That’s all, folks!
You can get in touch with Busola via: