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Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience - Business (2) - Nairaland

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Why HITV Failed, By Toyin Subair, Former CEO Of Hitv / Toyin Subair's Hitv Experience And Advice To Entrepreneurs / Why Hitv Failed - Toyin Subair (former CEO) (2) (3) (4)

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Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by Eluala(m): 11:17am On Sep 15, 2016
Very instructive. Don't give up Sir. Keep pushing it, your day will surely come. Only the brave can take on such daunting challenges. You are a brave man. The weak are held hostage by fear of failure but the strong are motivated by the prospects of succeeding, if however they fail, they take consolation in the lessons learnt.
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by beadaholic(f): 11:17am On Sep 15, 2016
Hmmmm, "Debt is very expensive. I learnt that from my entrepreneurial dad after his company collapsed. When taking a debt, take one that can successfully pay for all your business expenses and also your investment for @ least a year. So by that time your business should have grown to the extent of making its own profits. Though not all business make profit in a year. Some do take longer time.

1 Like

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by olalekan1(m): 11:17am On Sep 15, 2016
This write came to me at the right time. For the fact the man did not achieve the overall goal of the company, he tried his best and I believe he will do better in future.
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by blank(f): 11:18am On Sep 15, 2016
This man mismanaged the company, spent borrowed money lavishly and totally went against every good business tenet. Corporate governance was zero. Staff lost jobs, customers that had prepaid lost money and he spent it all living a lavish lifestyle.

Now, he has the guts and temerity to parade himself as a saint. I am sure he is trying to repackage himself for another enterprise and is hoping that Nigerians will forgive and forget.

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Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by Nobody: 11:20am On Sep 15, 2016
He made sense and only real entrepreneurs will understand his point.
1. Don't just sign anything. once investors see that your idea can be fruitful, they will host you in the best places, give you the best treatment and before you know it you are signing agreements you may not fully understand.
2. No business can survive with a debt profile in Nigeria. The interest rate will kill the business. The banks are not after the business, but after what you have dropped as collateral because collateral are usually worth more than bank loans. Why is Ben Bruce still playing mind games with banks- Majority of businesses that thrive with debt in Nigeria have international fundings.
3. Government policies are necessary. This is why Dangote is always an ally of any Government.
In conclusions, many businesses are not thriving because of Government policies and banks. We need free markets, run a cost driven economy if we really see entrepreneur as a means to development.

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Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by chrisdayo: 11:21am On Sep 15, 2016
Honest man. Don't be deterred, you can still try again. We all need people like you to break the monopoly and extortion of MultiChoice. We are paying through our noses just to watch football and they are not ready to allow flexible viewing...pay as you watch. Pick it up again afterall this is the season of change.

1 Like

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by Adebowale123(m): 11:21am On Sep 15, 2016
Our government ar really careless nd insensitive,nw dat Nigeria is facing recession nd we all clamor for diversification of the economy,I think all we need nw is policies dat will help businesses in Nigeria grow nt our government waiting aimlessly on foreign investors to come in.

1 Like

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by Moreoffaith(m): 11:22am On Sep 15, 2016
Make sure the people you train and inspire do the same to their sub-ordinates. Usually Nigerians are scared to pass knowledge for fear of being replaced and so you have to teach them to let others fly.

I feel this.

2 Likes

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by Ask4Info: 11:23am On Sep 15, 2016
TOYIN SUBAIR IS THE LAST PERSON ON EARTH TO SHARE HIS BUSINESS EXPERIENCE OR FORM VICTIM OF CIRCUMSTANCE.

A MAN SO WASTEFUL THAT HE BOUGHT 2 BRAND NEW RANGE ROVER SPORT OF THE EXACT SAME MODEL AND SPECS, THE ONLY DIFFERENCE WERE THEIR COLOURS (ONE BLACK AND THE OTHER WHITE).


A MAN THAT FLEW FIRST CLASS LIKE HE WAS VOMITING MONEY. ALL HIS GIRLFRIENDS ALSO FLEW FIRST CLASS TO MEET HIM UP ANYWHERE HE WAS.


I DON'T BLAME HIM ANYWAYS, I BLAME BOLA AHMED TINUBU (JAGABAN BOKU) FOR SELECTING SUBAIR TO FRONT FOR HIM AMONGST OTHER MORE ENTERPRISING AND BUSINESS ACUMEN INDIVIDUALS
.

13 Likes 2 Shares

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by helovesme(f): 11:30am On Sep 15, 2016
Toyin of all people grin grin grin grin offering business101 lessons. Is this a joke or something grin angry grin

Those that invested in the HITV project will curse him out on reading this.

He should give account of what he did with investors' funds/bank loan.

He didn't read carefully the clause in the contracts he signed? What is he on about Toyin is a trained lawyer. He should tell another lie and come out with the real truth on how he ruined HITV.

10 Likes

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by Wizkhalifa2(m): 11:32am On Sep 15, 2016
Dstv schooled Hitv on "The 48 Laws of Power" tho... U cnt blame them, business is business!... no friends!

4 Likes

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by lonelydora: 11:34am On Sep 15, 2016
That point that says "you need government on your side" is the main thing in Nigeria. Dangote understands it very well, reason he does his business everywhere he goes.

1 Like

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by Nobody: 11:39am On Sep 15, 2016
Old news. Learned this from watching a pseudo documentary on the company's downfall. Knowing Nigerian companies even if the company didn't crumble it wouldn't move past a certain stage. Nigerian companies always reach a point of satisfaction whereby they see no need to improve services. DSTV deserves commendation for breaking past this mentality.

5 Likes

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by Graciousnaija: 11:41am On Sep 15, 2016
This is priceless - not all available in textbooks!!!

1 Like

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by fxproff(m): 11:43am On Sep 15, 2016
lucarella:
Contrary to what we all thought, according to the MD, Shareholders, interest and the Government contributed to the fall of HITV. Read.



https://www.linkedin.com/pulse/hitv-101-oluwatoyin-subair?trk=hp-feed-article-title-comment

[Color= blue] [b] this is one write up I guess is so meaningful and you gat to learn from.
First I think I gat to blame HITV partners in the aspect of not making sure the NIG govt make sure the paytv right for football that is most watched is not monopolized,even when hitv paid and took the right from the formal foreign provider DStv,this wasn't for more a year but I guess 2-3years,that time they shld ve pursued that goal of de-monopolizing the game which is gonna be to their favour as they shld ve known they run a company with loan.

He pointed some things out when u want to embark on multi national biz,DO NOT neglect the govt backing or rules, EQUIty is far more beta than relaying on loan and this part of the world loan is even very expensive to maintain. I expect the partners who must ve been in other business shld know that.
See AIT quickly dive into equity to save their business and now its DAAR comm., Plc.


Well, the final problem with this nation is the fact they re so uneducated to know a nation will grow when indigenous control a lucrative business like the paytv sports and other things,they should have laws in place to benefit the citizen of the nation to ve priority rite to such ownership and control as we all know how much monopoly the foreign investor gain from our country and all their income repatriated to their country which looks like milk drying where they generate their income from.


[/color]

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Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by Nobody: 11:44am On Sep 15, 2016
I've really learn a lot. one thing is that he lacks wise business people that he can consult. he should learn from dangote how to liase with politicians.
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by Dronedude(m): 11:44am On Sep 15, 2016
Lol Experience they say is the best teacher and I will like to add that Doing business in Nigeria will require an experience not qualified as a teacher but a professor.
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by ManTiger(m): 11:48am On Sep 15, 2016
omolola15:


Na God go punish multichoice and NBC. Corruption killed Hitv because I'm sure multichoice bribed them to rule in their favor.

My Hitv dish and strong decoder just waste like that. The EPL was the main market. And multichoice did all they could to block them from getting it. I'm sure they might even be the ones that blocked the bank from giving them the money on Tuesday. Hitv was willing to share but dstv refused to. Such is life.

Our Nigerian government killed our Nigerian company. What is stopping the ministry of information from investing in the company. Probably there's no one to bribe them. Useless set of people.

I just wish there can be another indigenous company that can rival those useless multichoice. So they can stop collecting my 14k per month.
Guy, this man killed the business, instead of expanding the business and building on the market, he started chasing viewing centres upandan and created a draconian rule, decided to harass them with police and thugs.

If you're the manager of DSTv, you'll do the same. You're in business to make profit, Kill or be Killed!

DSTv did not block them, it is a closed bidding, the season he bidded and won, he over bidded up to 5times of what DSTv used to bid, he capitalize on viewing centres, this man is very foolish o. Walahi.

6 Likes

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by alexarelano(m): 11:50am On Sep 15, 2016
I've been looking forward to seeing this. Truth revealed
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by Nobody: 11:51am On Sep 15, 2016
One thing that stands out as a fact is what he said about Perception. I look forward to reading rebuttals from stakeholders in the failed project. In Nigeria, people judge every move you make. It is obvious the man is no saint but the Nigerian jury will murder you for trying to be different. They will secretly wish you fail and they will accuse,gossip and badmouth you at every opportunity.
Black man with black heart.
Now back to the other aspects, the guy is spot on: please show me the venture capitalists in Nigeria. Nigerian businesses struggle to break through, apart from the big mergers we have read, how many businesses have received support from within their industry niche to grow in this country ?
I will bookmark this writeup. It's an excellent piece in my opinion. I recommend it to entrepreneurs seeking to find investors to start their businesses.

3 Likes

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by omolola15(m): 11:54am On Sep 15, 2016
ManTiger:

Guy, this man killed the business, instead of expanding the business and building on the market, he started chasing viewing centres upandan and created a draconian rule, decided to harass them with police and thugs.

If you're the manager of DSTv, you'll do the same. You're in business to make profit, Kill or be Killed!

I used to own a viewing center then. I know about the rules. But those rules didn't stop the bank from giving him the loan in time, those rules didn't let NBC forsake him when he needed them. He was willing to share with dstv some weeks earlier. Why didn't they do the same for him. He has his faults too. But our government no dey try at all jare.

3 Likes

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by wesleychidi(m): 11:55am On Sep 15, 2016
ElSherriff:
The man is a gallant man. Good in business, generous in losing out, still generous in sharing his unfortunate experiences so we all can learn. In the era of patronizing home made, Nigeria and her leaders continue to fail and fail. Where was the support for an indigenous firm? we was national pull to make this company work? where was patriotism? I remember the HiTv days as I had a decoder and dish too, quality was poor BUT they were always top notch in customer care and reassurances. Same thing is happening to TRENDtv and Metrodigital today, poor quality and dubious services and these latter firms will go down faster because unlike HiTv their customer care is sh*t. I have stuck with CTL for a while now and for the past two weeks my subscription has yielded nothing, none of the channels work and yet they wont even answer their customer care line...If i port to DSTV, another Nigerian brand is going down. I salute oga Zubiar and I am damn sure this man is cooking up another brand that will definitely work.
I think nigerian companies are d cause of their downfall with poor picture quality n shitty customer service.Though i stand to be corrected,metrodigital has d worst customer service in d world. I subscribed to metrodigital for some years because they show everything football n operated my dtv at just d family bouquet. But their lousy services,insolent staffs,bad customer service sent me back to dstv. I know how much dstv collects from me every month but atleast they are polite about it n their services are ok.
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by babs50g: 11:55am On Sep 15, 2016
If there are no prudential guidelines in your financial management approach the business will surely fail . More over , reducing one 's operating expenditure is a key factor , and don't start business by lending from the bank because the interest is killing which is not favourable to an average entrepreneur . Other countries of the world has single interest rate regime which makes them to function optimally , good infrastructure , tax holiday. Virtually all the policies being put in place by govt are obnoxious and archaic in terms of running a good enterprise in this country . The likes of Dangote enjoy most of the sweetness today because has waivers / concession on what ever he brings into the country to do . The machines he brings are 0 % , so much preferential treatment and he is able to manage it well . The main approach to business are discipline , responsibility , implementation , integrity ,

1 Like

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by blamelessly(f): 12:03pm On Sep 15, 2016
What can I say? I've known Toyin Subair before HiTv. He was a man of that feared God, followed principles, was humble and was a selfless giver. I still remember him sowing his only car for a church project and took to using okada until he got another one. And also when he gave the 1st mind blowing seed we ever got in church. A selfless man indeed. Always putting others' needs before his. One of the greatest achievement of a man is when he realize his wrongs and retrace his steps. Sometimes God takes one through certain experiences to impact some things for His purpose in future. This is not the end Mr Oluwatoyin Subair. It's time to rise up again like David. Fear Not, God is still in control. Everything will work together for your good.
(Do you remember you made us study John 4 every Saturday for a whole year? Go back and study it)

5 Likes

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by HAH: 12:11pm On Sep 15, 2016
Hitv was the architect of it own downfall, I can remember how the MD became a celebrity and was the sponsor of every show in Nigeria always doing paparazi.

Their only attractive product was the EPL and no other content, the only reason people bought their decoder was for football, No good movies, No good documentaries, even the football they only had EPL.

On the other hand DSTV were astute business people when they lost the EPL right in Nigeria, they boosted other content, like documentaries and movies, created local language stations like afmag Hausa and Yoruba, they also introduce the dstv family that the poor can afford, I can remember the said their subscribers doubled when they even lost EPL, cos they held unto laliga,and french league they also introduced bundesliga.

Hitv only had EPL and when they couldn't get money to pay for epl they died because there was no other content with them for people to stay with them.

Am not in anyway happy that Hitv died, and I want another indigenous company to fight dstv and their exploitations, half of dstv customers in africa are from Nigeria, how I wish station like Tinubus consat can fight them for this sports right since he seemingly has the political and financial might.

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Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by Franky826: 12:14pm On Sep 15, 2016
lucarella:
Contrary to what we all thought, according to the MD, Shareholders, interest and the Government contributed to the fall of HITV. Read.



https://www.linkedin.com/pulse/hitv-101-oluwatoyin-subair?trk=hp-feed-article-title-comment


Nah this one is going into my archive. This is first class lesson. It hardly comes by in printed books.

Lesson 1: no business can survive with 25-30% interest rate.

Lesson 2: The competitor I strongly believe the blood sucking D**V was damn smart. First negotiate to share the rights while pushing for exclusive rights in the background. Finally got it after much BRIBERY of those in Government. Then bribed again to keep it exclusively and then indirectly spitting on the Nigerian laws of business fairness. (don't worry kwese tv is coming for you)

Lesson 3: Nigerian Government, laws and lawmakers is blatantly LAME!!!

1 Like

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by thorpido(m): 12:15pm On Sep 15, 2016
Admin401:


I stopped reading here, the most negative article i've ever read.
Into the garbage can.....
You missed the point here.
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by sammhi(m): 12:15pm On Sep 15, 2016
omolola15:


Na God go punish multichoice and NBC. Corruption killed Hitv because I'm sure multichoice bribed them to rule in their favor.

My Hitv dish and strong decoder just waste like that. The EPL was the main market. And multichoice did all they could to block them from getting it. I'm sure they might even be the ones that blocked the bank from giving them the money on Tuesday. Hitv was willing to share but dstv refused to. Such is life.

Our Nigerian government killed our Nigerian company. What is stopping the ministry of information from investing in the company. Probably there's no one to bribe them. Useless set of people.

I just wish there can be another indigenous company that can rival those useless multichoice. So they can stop collecting my 14k per month.
Most times it is just plain jealousy . a Nigerian would be jealous of his fellow man rising and would rather prefer to have the foreigners do it.

1 Like

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by alfa0: 12:16pm On Sep 15, 2016
emandman:
Wisdom acquired by experience is the cruelest.
Obviously this man has not been paying attention to mentors prior to starting his business.
I like his honesty though but yet he's still too plain for a business man.

Not quite sure,what i understand is that he was doing the business based on transparency but alas!,Business in Nigeria is not done that way.
i agree that in Business,one need to be strewed most times.but i have talked with few foreign business partners and a lot of local business partners but i found out that foreigners still builds business on transparency but the opposite is the case in Nigeria.
What he is saying in a nut shell is that some of our politicians had interest in a foreign pay TV instead of building local pay TV.
its a pity, he learnt the hard way.
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by lucarella: 12:25pm On Sep 15, 2016
omolola15:


Na God go punish multichoice and NBC. Corruption killed Hitv because I'm sure multichoice bribed them to rule in their favor.

My Hitv dish and strong decoder just waste like that. The EPL was the main market. And multichoice did all they could to block them from getting it. I'm sure they might even be the ones that blocked the bank from giving them the money on Tuesday. Hitv was willing to share but dstv refused to. Such is life.

Our Nigerian government killed our Nigerian company. What is stopping the ministry of information from investing in the company. Probably there's no one to bribe them. Useless set of people.

I just wish there can be another indigenous company that can rival those useless multichoice. So they can stop collecting my 14k per month.

My brother. DSTV operates with the highest level of 'cabalism' in this country. You have no idea. It's very hard to topple them. Their chairman is friends with Govt. people.
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by lucarella: 12:27pm On Sep 15, 2016
fxproff:


[Color= blue] [b] this is one write up I guess is so meaningful and you gat to learn from.
First I think I gat to blame HITV partners in the aspect of not making sure the NIG govt make sure the paytv right for football that is most watched is not monopolized,even when hitv paid and took the right from the formal foreign provider DStv,this wasn't for more a year but I guess 2-3years,that time they shld ve pursued that goal of de-monopolizing the game which is gonna be to their favour as they shld ve known they run a company with loan.

He pointed some things out when u want to embark on multi national biz,DO NOT neglect the govt backing or rules, EQUIty is far more beta than relaying on loan and this part of the world loan is even very expensive to maintain. I expect the partners who must ve been in other business shld know that.
See AIT quickly dive into equity to save their business and now its DAAR comm., Plc.


Well, the final problem with this nation is the fact they re so uneducated to know a nation will grow when indigenous control a lucrative business like the paytv sports and other things,they should have laws in place to benefit the citizen of the nation to ve priority rite to such ownership and control as we all know how much monopoly the foreign investor gain from our country and all their income repatriated to their country which looks like milk drying where they generate their income from.


[/color]
That's my point. I don't think it's lack of education. It's more of greed and our policies. First of all, we really can't compete with foreign companies in terms of liquid cash. Because a company in the UK or in Japan or China borrow money from their govt. at a 'ridiculous' fraction of what we pay as interest - with longer terms of repayment. They come to Nigeria to compete with Nigerians that either don't have access to these loans or borrow at about 24 - 30%% interest/year. How do you expect us to cope? We can't. That's why foreigners have taken over.

Now coming to greed and corruption. When you have a foreign company that can afford to put a large amount of money down for a business and as far as 'sorting' is concerned, a govt. official can take a percentage of that amount as bribe, why would he encourage Nigerian companies who don't have the 'bribe' to give them. There is a fundamental problem with this country and it can't be solved at the surface. HITV was a victim because Toyin Subair was a daring fellow and we all knew about it. There are tons of businesses that suffer from this thing everyday.

5 Likes

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