ABIODUN FOLAWIYO-- CEO SHOESPEED INTERNATIONAL.

Your start-up capital is not money, it is your passion Likes)

Abiodun Folawiyo

Abiodun Folawiyo, a graduate of Accounting from the University of Lagos love for shoe-making was born over 15 years ago. He has since turned that dream into reality and is the CEO of Shoespeed Interglobal Services Limited. He has trained over 500 people in shoemaking and hopes to start an academy for Shoemakers.
The 35 years old Shoemaker speaks about growing business from the scratch.

What spurred you into shoemaking?
My love for shoemaking was born out of three major reasons. One is to solve the problems of not getting good shoes in Nigeria. As at 15 years ago when I started, it was tough to find a company or individual that make good shoes in Nigeria. That raised my curiosity and I kept telling myself, as long as this thing did not grow from the soil and it did not come from the sky, human being made them, I will go all out to build the skill to make shoes. 
The second reason is the drive to be independent early in life. I keep hearing of no jobs and unemployment and I did not want that.
So, I started learning from a roadside Shoemaker. While in my first year in University of Lagos, when I go home during weekends, I am with this road-side shoemaker. He asked ‘why do you bring yourself so low’? And I told him the people I look up to have a humble beginning like this. Though my father wanted me to be a professor, I am working towards being a professor in shoemaking. So far, I have trained an average of 500 people in the last seven years. 
Did you get more skills apart from the one from the Shoemaker?
The little I learnt from the road side Shoemaker, I built on it. I learnt more through trial and error. I also got a young man that was into shoemaking but did not have any formal education to work with me. 
How did you get funds as a young entrepreneur?
It was tough raising my start-up capital because I could not share my dream with members of my family, but I was able to start with N12,500 fifteen years ago.
Can your shoes compete with international brands?
A young man called me some time ago and said ‘I know how you do this. ‘You buy shoes from international brands and you change the label to your brand name, Shoespeed’. I asked why? He said because these shoes cannot be made by any Nigerian. I simply laughed.
Recently, I supplied some shoes to some people in the USA and I got a feedback from one of them. One of them said, he has to shop for new clothes to wear with the shoes. 
What is you educational qualification?
I graduated with a second class lower (2.2) from University of Lagos and I studied accounting. 
What advice do you have for people who lack finance to starting their business?
Your start-up capital is not money. That is where we usually get it very wrong. Your capital is your passion. When you have passion for whatever you do, be it dress-making, make-up artistry, hair-dressing, it now becomes your driving force. 
Where do you see your business in the next five years?
I see my business as one of the household brands that will be celebrated in Nigeria and some major part of Africa. I see my company as one of the companies that retailers of shoes will feel comfortable ordering shoes from. I see a situation where we will have a standard academy where people who have passion of being shoemakers, will enrol at a very stage in life. 
I have 12 people working with me now and I have six interns. We have our office at Ikeja, off Allen Avenue. 
What is the biggest lesson you have learnt as an entrepreneur?
To build a structure around your business. A good business should have a structure because when you have a structure; it will guarantee the future of your business. 
How do you feel being one of the Diamond BET5 winner?
It’s a reminder that I still have a lot of work to do. It has shown that the decision I made years ago to be a Shoemaker was good one.
What is your advice to young people?
Putting your resources into your investment is a great thing that if you do not reap now, you will reap in the future. For me, I separate assets from liabilities.

 Rss