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Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience - Business (4) - Nairaland

Nairaland Forum / Nairaland / General / Business / Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience (32143 Views)

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 lucarella: 7:59pm On Sep 15, 2016
helovesme:


God bless you for this.

The more I read Toyin's write up of lies, the more irritated I get.

The bank he was hoping on as backup to provide the much needed guarantee stalled because they were very sceptical about funding Toyin's HITV mess.

If HITV had been properly ran and managed (even if they were operating at a loss which is naturally expected in the first few years for a new business), banks would have been falling over themselves to provide the guarantee he badly needed before the expiration of the deadline.

Toyin presented a business model to the bank that provided the bulk of the funds he needed to start the business. Did he follow the business plan? Didn't he deviate from it? What happened to all the "content" and "programmes" he claimed he was going to bring on board to HITV? Did he do all that? NO!

You can't present a business plan to a bank for a loan of 20 billion naira, the loan gets approved and then you run back to them asking for another 40 billion when you are yet to pay off the initial 20 billion with little progression in the company and expect the bank to do your bidding.

Every bank has a risk appetite and an acceptable level of debt exposure. There are no sentiments involved. If it's outside their risk threshold, they either ask the company to look for another bank to share the risk and provide some sort of syndicated loan (which was what Toyin was hoping to acheive) or they walk away from the deal.


Don't be so quick to put a rope around his neck. The bank wanted to help, no wahala. But, at what interest rate? Do you know what it takes to run a business of that size in this terrain with the banks looking over your shoulder every time? The kickbacks, the unprecedented miscellaneous expenses, and finally the competition. If you are not a very prudent and ruthless businessman, you can't survive on those loans. He accepted his lack of experience in running that business, but it's all a lesson and we should all take notes. In as much as he was guilty, the system is also a mess. It makes competition with foreign companies impossible. The govt. could do more

2 Likes

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by kushe: 8:45pm On Sep 15, 2016
Everyone wants to own a business yet most wont treasure the experiences of those that have failed. He said perception is greater than reality, what if his mismanagement of his perceived opportunity is just a perception. Someone talked about his church life and another talked about his chicks flying first Class. So who dey lie? Go and read Richard Branson's account of fighting monopoly, naa die for jand talkless of scattered naija. Glasses up Mr Subair.

1 Like

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by kushe: 8:54pm On Sep 15, 2016
Uber has conquered the world including naija but when dem enter china, naa die. Their unicorn status and finanicial war chest couldnt save dem from a local player that was already on ground and understood the terrain. They are exiting china because the environment defied logic and naija is worse. If you like go Harvard, wharton and Oxford together, for naija all man naa learner when it comes to running a business.

3 Likes

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by mikolo80: 8:59pm 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.
no be una give them the moni to bribe the gwament
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by mikolo80: 9:02pm On Sep 15, 2016
prof1990:
i really wish we can have the government support this companies so we can reduce the monopoly that Dstv has. The govt should support home businesses imagine how much Dstv makes from Nigerians every year and take back to their country. We really need to reduce or if possible place a 2year ban on importation and encourage internal production. But this can only be achieved if we put aside politics,religion,tribe and any form of divisiveness and SELFISHNESS and also block every avenue where funds can be mismanaged or embezzled.
must you watch dstv
You can never put aside politics religion or tribe
Hate the game not the player
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by mikolo80: 9:07pm On Sep 15, 2016
repogirl:
I learnt a thing or two from this.

Our government should try to support and protect its own but ofcourse they prefer to be courted by foreign companies, receiving bribes while the company is making a killing off us and taking our money to their own countries.
then why don't local companies bribe them too
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by mikolo80: 9:11pm On Sep 15, 2016
chrisdayo:
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.
na you wan pay through your nose na
If you no watch ball Wetin go do you
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by beau49: 9:17pm On Sep 15, 2016
Jeez! I could literally feel his pain in this write up. Good thing he has moved on.
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by FrancisDiote(m): 9:17pm 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.
What do you expect when corrupt people managed our economy since 1999
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by mikolo80: 9:20pm On Sep 15, 2016
Adebowale123:
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.
we don't care about ourselves
Why should our govt that we collected rice and voted for
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by Adeevah(m): 9:49pm On Sep 15, 2016
I learnt a lot from this...there are gold in his words



I took them all
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by Nobody: 10:14pm On Sep 15, 2016
mikolo80:
must you watch dstv
You can never put aside politics religion or tribe
Hate the game not the player

having a bad day i guess. sorry bro
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by Ugosample(m): 10:26pm On Sep 15, 2016
blank:
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.


Please expand on this.....
Thank you
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by mikolo80: 10:32pm On Sep 15, 2016
prof1990:


having a bad day i guess. sorry bro
I hear you
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by Toofan007: 11:36pm 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.
oga leave that thing abeg. This dude wanted to kill the viewing centres in Nigeria by changing them exorbitant amount to subscribe. What kind of b*****s*** is that? You want to kill somebody so you could live? And why not start small and build gradually? Like startimes is doing? It was naive to think DSTV would just siddon dey look while you take the star of their package away. This guy dey carry police go bust viewing centres that they use his content for public use!! Wetin be hin own inside? After i don buy the decoder and pay subscription o!

2 Likes

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by xtervaganza(m): 12:00am On Sep 16, 2016
This guy is a lawyer. And for him to come up here and say he was oblivious of how debt management works is funny and weird at the same time




Anyway, what killled hitv is greed. They wanted ti have it all and all at once. They forget it slow and steady wins the race.



Their business model is too aggressive for a new business and I remember telling my friend(who had a football viewing centre then) that hitv will soon go bust.


And when they borrowed money to get the epl rights and were under pressure from banks. They turned draconian in evil ways of extorting their loyal customers by forcing them to pay extra for those showing their contents to public.


To be honest; they shot themselves in the foot. Sad but I wish one of our thief politicians could resurrect that company cos they had huge prospect

3 Likes

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by micfoley: 12:08am On Sep 16, 2016
Insightful
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by ChynoBEATS: 6:32am On Sep 16, 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.

But dude..... Since they couldn't get a direct right to it..... They could hv paid those other companies who's go the rights .... Like kwese , Osmi n aFnex .... Don't forget that That's what NTA did to bring Nations Cup to our TV via Osmi n afnex ...... 2me HiTv never had a Good plan B ...which was our law n our Govermment ... They depended on our Government not knowing that they can't be of help except you're with them politically.....

Another problem is this ........ They could have also Shared the responsibility just like multi-choice did .. Till they could Ex-EuroSport n Espn ....

It would be of no harm if Hitv had to pay SKySport or Any other PayTv apart 4rm their biggest competitor for Epl transmission right .
Well I salute the man for taking such risk boldly , VerySoon He'll Rise again .
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by lammiey(m): 10:01am On Sep 16, 2016
This is the problem with Nigeria. we love foreigners more than ourselves and that's why multichoice is still duping us till now. We have a selfish and stupid govt too. Hitv was the only competition multichoice had and would have served us better but here we are. Besides, only the dirty can survive in this country. And we are shouting there is recession. It is shameful that someone from somewhere will come ride us at our home.... SO SHAMEFUL!!!!
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by StoneColdBiceps(m): 11:03am On Sep 16, 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

Coming out to share your (His) experience has done it all. Humility (check), Sincerity (check), lesson learn (check). BUT i hope He is debt free because that alone is cancerous. Go and live again to fulfill your next call. You are a trail blazer, a pioneer and you have a dogged spirit to fight a monster that is supported by cancerous political bathrobe. Cruising in those choice cars sent wrong signals, you should have buried it in your garage and drive around in prado or land cruiser jeeps, those are conventional cars for start up CEOs. Great experience Mr. Subair.

1 Like

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by Chukazu: 4:11pm On Sep 16, 2016
their greatest error was hinging their entire future on EPL.
when multichoice lost the EPL,they were still able to survive, because they had good enough content, but HITV had none.. so the moment they lost the EPL rights to multichoice, they went crashing.

2 Likes

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by Chukazu: 4:16pm On Sep 16, 2016
ChynoBEATS:


But dude..... Since they couldn't get a direct right to it..... They could hv paid those other companies who's go the rights .... Like kwese , Osmi n aFnex .... Don't forget that That's what NTA did to bring Nations Cup to our TV via Osmi n afnex ...... 2me HiTv never had a Good plan B ...which was our law n our Govermment ... They depended on our Government not knowing that they can't be of help except you're with them politically.....

Another problem is this ........ They could have also Shared the responsibility just like multi-choice did .. Till they could Ex-EuroSport n Espn ....

It would be of no harm if Hitv had to pay SKySport or Any other PayTv apart 4rm their biggest competitor for Epl transmission right .
Well I salute the man for taking such risk boldly , VerySoon He'll Rise again .

if they paid skyesports, they wouldn't have gotten the right because multichoice controls African terrestrial transmission. the same way multichoice wasn't able to broadcast EPL matches for the year that HITV bought the right

1 Like

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by Bigsteveg(m): 12:08pm On Sep 25, 2016
kingsman66:
for your mytv,dstv,CTL ,star times,gotv installation and retrecking HALA at your nigga @08179854671 and consider your work done................your comfort is our pride

Installing a dstv is how much? Is the dish coming together with the decoder? If not how is the dish as well. Gimme a breakdown pls. Thanks
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by kingsman66(m): 8:46pm On Sep 25, 2016
Bigsteveg:

Installing a dstv is how much? Is the dish coming together with the decoder? If not how is the dish as well. Gimme a breakdown pls. Thanks




dstv dish comes along with the recorder altogether, and base on installation it depends on location

1 Like

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by Bigsteveg(m): 5:14am On Sep 26, 2016
kingsman66:





dstv dish comes along with the recorder altogether, and base on installation it depends on location

Thanks
Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by laudate: 11:50am On Nov 25, 2016
StoneColdBiceps:
Coming out to share your (His) experience has done it all. Humility (check), Sincerity (check), lesson learn (check). BUT i hope He is debt free because that alone is cancerous. Go and live again to fulfill your next call. You are a trail blazer, a pioneer and you have a dogged spirit to fight a monster that is supported by cancerous political bathrobe. Cruising in those choice cars sent wrong signals, you should have buried it in your garage and drive around in prado or land cruiser jeeps, those are conventional cars for start up CEOs. Great experience Mr. Subair.

You have said it all. Instead of blaming the man, people should learn from his wealth of experience, especially aspiring entrepreneurs. sad

In fact, someone should make this into a documentary so that others can look, listen and learn from what he went through, in order not to make the same mistakes he did. I cannot blame him, because he has acknowledged his faults and bared his soul. Failure is a great teacher, and experience is a great asset. undecided It is what we do, with what we have learnt, that counts.

1 Like

Re: Oluwatoyin Subair: The MD Of HITV Shares His Touching Experience by Boss13: 2:55pm On Nov 25, 2016
He should write a book on this

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