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Meet The Entrepreneur That Celebrates Losses - Business - Nairaland

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Meet The Entrepreneur That Celebrates Losses by MakeItBiz: 10:50am On May 06, 2019
Chief Executive Officer, E-leo Watches, Everistus Onwuzurike shares his experience with makeitglobal.biz on how he intends to make Nigeria a hub for the production and distribution of quality wristwatches both locally and internationally. He also speaks on how the Government can provide entrepreneurs with low interest loans to grow their businesses.

Tell us about E-leo Watches?

E-leo Watches is an online store that is dedicated to the sales of mechanical, automatic, chronograph, sports, digital, divers and military styled timepieces to customers within Nigeria. We cater for consumers who desire quality but affordable wristwatches. Also, we are committed to delivering durable wristwatches for majority of Nigerians seeking an affordable alternative to highly priced timepieces.

We strongly believe that one doesn’t have to break the bank to look stunning, and same goes for owning a quality and beautiful wristwatch. Wristwatches from E-leo Stores vary with unique designs that are difficult to go unnoticed.

When and how did you start E-Leo business?

E-leo watches was borne out of my love for simple, quality and affordable wrist watches. Growing up, I loved wristwatches so much. I can vividly remember saving my lunch money just to buy that colourful calculator watch. I started selling watches in 2015 during my National Youth Service in Benin City, Edo State. Then, I would buy few wristwatches, bring them to school (My Primary Place of Assignment) and sell to both students and staff members.

The demand for wristwatches began to increase as old customers kept on giving good recommendations and referrals. Later on, I began to seek for diverse ways to conquer my immediate environment and sell to outsiders. I shared my idea and visions with some friends, those who bought into it decided to work with me to achieve this goal. We assigned roles based on our strengths and set targets.

I opened my online store first on Instagram and Facebook. Initially it wasn’t easy. We didn’t get any order in our first three months on social media. Our “foot soldiers” were still making sales offline but I felt the need to break the jinx. So we resorted to running sponsored ads. Today, the rest is history and I’ve been into this business for two years, and I believe we can always get better.

How do you stay motivated?

I do this always by putting the big picture in front of me. As an entrepreneur, I don’t frown at my losses. I am not always discouraged when I lose out in a business. And I can clearly say it that I am the only entrepreneur that celebrates his losses. I do this because it paves way for me to get better and improve in areas that made us loss. According to John Maxwell, sometimes you win, sometimes you learn.

What habits do you have that drive you to succeed?

I try to grow with the industry. I learn new things every day and I always try to stay updated in my area of business. I take out time to plan before I act. Presently, I have a master plan for my business which is time sensitive. We intend to become a hub for quality watches. The fashion industry is a viable one.

How do you intend to edge out your competitors?

We have many competitors in this industry. I pay close attention to almost all of them to find out what they are doing differently and the areas that they are underperforming. We leverage their low performing areas and better the services there. Competition is healthy for this business.

Are you into partnership with any wristwatch company? How do you get the wristwatches you see to people?

For now, we are not in partnership with any company. We only have business relationship with many wristwatch companies. We intend going into partnership with big wristwatch companies like Micserah when we finally have our own wristwatch – Eleo. We know the importance of partnership with companies and how healthy it is.

How do you think Government can help improve on e-commerce in line with your business?

The success and growth of local manufacturing is an important recipe for a vibrant e-commerce economy. So Government can start by encouraging young entrepreneurs who intend going into manufacturing by giving them low interest loans to encourage their businesses.


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