In today's episode of How They Did It with TriciaBiz, Joycee Awosika, (MD/CEO of ORÍKÌ - a luxury skincare brand) tells us about her experience with creating and scaling Nigeria's first and only all-natural farm to skin brand, and how she's been able to overcome some of the challenges that come with being an entrepreneur in Nigeria.
Joycee shares valuable advice about managing a spa in Nigeria; and in general, how to be a successful entrepreneur. Despite a notoriously unstable economy, she's been able to constantly expand her business and its subsidiaries, making hers one of the Nigerian entrepreneur success stories that just had to be shared!
Doing business in Africa in 2023 certainly has its challenges. Stick around, and you're sure to find the entrepreneurship development that you've been searching for.
Enjoy and share!
CHAPTERS
00:00 - Intro
01:48 - Why she relocated to Nigeria
03:35 - How she got into business
05:00 - How ORÍKÌ started
06:50 - Market research for starting a business in a new market
09:09 - Creating business development strategies
11:45 - Selling products in a new market
13:38 - ORÍKÌ's first location
14:38 - Collaborating with entrepreneurs for business growth
16:34 - What to look for when choosing a business location
19:04 - Keeping your occupancy rate high
20:40 - How to keep customers coming back
22:49 - Manufacturing and packaging products in Nigeria
25:26 - Creating an excellent brand
27:17 - ORÍKÌ's subsidiaries
31:00 - Valuating ORÍKÌ
32:17 - How to manage employees as a young business owner
37:26 - Managing perceptions as a young business owner
39:38 - Keeping your business costs low
41:17 - Challenges of running a business
42:51 - Advice for business owners
44:24 - How to structure a business
ABOUT THE SHOW🎬
"HOW THEY DID IT" a show that tells the authentic story of African businesses whilst drawing lessons for upcoming entrepreneurs.
The Challenge:
There is a growing demand to tell our stories. Most of the stories told online are of foreign businesses, and where you find an African story, it is most likely a surface-level interview that aims mostly to motivate and not necessarily teach.
This is the unique value of this show:
In addition to it being designed to educate, motivate, and inspire, which is truthfully a key factor in boosting self-confidence, we will be emphasizing key lessons from the video interviews.
#howtheydiditwithtriciabiz
ABOUT TRICIABIZ ⭐
Tricia Olufemi-Olumide (a.k.a. TriciaBiz) is commonly described as The Business Fixer. She is an entrepreneur, author, and business growth expert with over 12 years of experience working across a wide portfolio of clients in Nigeria, offering services ranging from business growth consulting, marketing penetration strategies, and other core marketing across several sectors.
She is the founder of Business Lab Academy Africa, a fast-growing digital learning platform for African entrepreneurs, and has successfully trained over 200,000 entrepreneurs in 10 cities across Africa.
TriciaBiz is a multiple-award winner and has been invited to speak at various seminars, workshops, and conferences globally.
ABOUT THE GUEST 👤
Joycee Awosika is the MD/CEO of ORÍKÌ - a luxury skincare brand that fuses natural ingredients & scientific research to create extraordinary personal care products.
ORÍKÌ is the first and only all-natural farm to skin brand in Nigeria to operate a luxury spa chain coupled with its own product line. At ORÍKÌ, beauty & wellness go hand-in-hand; therefore they are committed to providing relaxation and stress relief, as well as the finest treatments for the face and body.
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