THE PERSON, THE BUSINESS.
Q: CAN YOU PLEASE TELL US ABOUT YOURSELF?
A: My name is Yemisi Osifeso. Head, creation & logistics, De-ReVerie creations. A graduate of Economics from Babcock University, I am the second child and only daughter of my parents, I have three siblings and I am happily married to Mr. Bimbo Osifeso.
founder: De ReVerie creations
Q: TELL US ABOUT YOUR BUSINESS
A: De-ReVerie creations is an event management outfit that specializes in indoor and outdoor catering, cakes for all occasions, assorted drinks, corporate gifts and souvenirs, event packaging. The company was established in January 2011, we are presently only located in Lagos-state but hope to have branches in Abuja and other states soon.
Q: HOW DID YOU SETTLE FOR THAT INDUSTRY, WHAT WAS THE MOTIVATION TO ENTER THAT MARKET?
A: Since my childhood, I had always been interested in organizing shows, parties, events generally and I particularly love cooking! Anyone who knows me would know that the kitchen is my best part of the house. I was strongly involved in putting together shows, carnivals and programmes in my secondary school and university days. After my NYSC (National Youth Service Corps) program in 2008, I got a job in a corporate organization but I was not satisfied as I had my mind on event creation. After about a year, I resigned and decided to go for my passion hence the birth of De-ReVerie creations.
Q: CAN YOU SHARE WITH US THE OBSTACLES YOU ENCOUNTER IN THE COURSE OF DOING YOUR BUSINESS?
A: I work for and relate with different people with different preferences and temperaments. Some people can be impossible, professionally convincing a client to change his/her already made up mind on an aspect of the event can be a huge task. This business has made me very patient and tactful.
Q: DID U CONDUCT A FEASIBILITY STUDY?
A: Not really, a little research here and there but nothing major. I have been learning on the job.
Q: IS YOUR BUSINESS REGISTERED?
A: Yes. De-ReVerie creations is registered with the Corporate Affairs Commission (CAC), Abuja.
Q: SO HOW DID YOU RAISE SEED CAPITAL TO START?
A: Personal savings, my husband and my parents were of great assistance financially.
Q: WHAT ROLE WILL YOU SAY THE FINANCIAL SECTOR PLAYS IN THE LIFE OF SMALL BUSINESS IN NIGERIA?
A: I wouldn’t really know since I have not approached any financial institution for funds. I would say though that it is imperative for our government to provide financial assistance through the financial system and create an enabling environment for young talented individuals who are interested in starting up their own businesses, that way the number of unemployed youths roaming the streets will be greatly reduced.
Q: WHILE TRYING TO GET STARTED, WHERE THERE ANY MAJOR SET-BACKS AND HOW DID U SURMOUNT THEM?
A: Naturally every business has its challenges and the events industry is not left out. Breaking into the industry wasn’t easy mostly because people need to have a great level of confidence in you to trust you with catering for their event. They want to see pictures of your previous works, (which I didn’t have then because I was just starting out), they already have a relative somewhere who has told them to trust them with the catering and other aspects of the event (everybody is out to make money anyways) and besides that, it is a very capital intensive business where you have to keep acquiring new materials so as not to get obsolete and stay competitive. I started really small and had to rent materials to work with but today, we get so many jobs and even have to turn down some jobs because we are already booked. yayyy….
Q: HOW DO YOU HANDLE LEGAL MATTERS?
A: Legal matters ke…there’s no long story in my line of business o. You pay me, I deliver, end of story. (*laughs)
how its done; De ReVerie creation doing their thing
Q: WHATS YOUR OVERALL MARKETING STRATEGY, HOW DO YOU PLAN ON REACHING PROSPECTIVE CUSTOMERS?
A: My marketing strategy is simple. We do each job as if it will be our last. We put in our best performance into every event and we take punctuality very seriously, it has worked like magic! I keep getting referrals and recommendations. Like they say, the best form of advertising is word of mouth and a good business sells itself. The social media has also been of invaluable help in reaching our prospective customers, we have a page on Facebook and we are currently building our website.
Q: WHAT DETERMINED YOUR BUSINESS LOCATION
A: I am based in Lagos so it’s only natural for my business to be located here. Our business is mobile so depending on the venue of the event, we get to go to different parts of Lagos and outside the state as well.
Q: IN THIS INTERNET SAVVY WORLD, HOW DO YOU USE SOCIAL MEDIA?
A: Social media has been of great help. Through our facebook page, blackberry, and twitter, we are able to reach countless number of people and keep them up to date about our services free of charge. I have done a few jobs without meeting the clients personally until the day of their event, we talked over the phone and communicated via e-mails and BBM (blackberry messenger) and the deals were sealed. It is amazing.
Q: MOST ENTREPRENEURS WANT TO KNOW; WHERE DO I GET MY BUSINESS IDEAS, HOW DO I FIND MY NICHE?
A: There are so many business ideas but if it is not backed up with talent and passion, such businesses will fold up in no time. It is a disaster to start up any kind of business simply because it’s in vogue or there’s money to be made in it. You’ll realize that the money doesn’t come immediately you start, it takes time for any business to break even. At that waiting period, it is your passion for what you do that keeps you going. Put in your best and put the Almighty first in your business, He will carve a niche for you.
FINANCE AND ACCOUNTING
Q: CAN YOU SHARE WITH US HOW YOU KEEP YOUR BUSINESS FUNDED?
A: My business runs itself financially. I don’t spend all my profit; I invest a portion back into the business to keep it growing. Also and very importantly, paying my tithe has been a great source of covering for my business.
Q: WITH BUSINESS COMES ACCOUNTING, HOW DO YOU ADDRESS THIS AND TO WHAT EXTENT ARE YOU COMPUTER COMPLIANT IN YOUR BUSINESS?
A: For now, I am the accountant and I ensure that I keep proper record of our incomes and expenditure. I balance the books periodically. Computers are more or less a part of our daily lives nowadays.
Q: THE FEDERAL AND STATE GOVERNMENTS IN NIGERIA HAVE GEARED UP THE DRIVE FOR TAXATION; WHAT’S YOUR TAKE ON THIS AND HOW DOES YOUR BUSINESS RESPOND?
A: It is a very good move. Every income earning citizen and private business owners should contribute their quota to the development of their society. Social responsibility is our collective responsibility.
it cant get any better than this…I am placing my order ASAP!
Q: DO YOU HAVE ANY PERSONNEL?
A: Yes I do. I have a manager and about eleven workers that come in when there is a job. For bigger jobs that require more hands, we source for contract workers.
De-Reverie creations workforce
A LITTLE PERSONAL
Q: HOW DO YOU BALANCE WORK AND PERSONAL LIFE?
A: My kind of business is quite flexible, sometimes I work non-stop for days and other times I am free for days. I am blessed to be married to the most wonderful and supportive man who is every lady’s dream-man but happens to be my reality (wide grin). He understands that sometimes I can be away working but when am not working, I give my family undiluted attention.
Q: WHAT ARE WE MOST LIKELY TO CATCH YOU DOING WHEN YOU ARE RELAXING?)
A: I relax indoors, watching movies.
Q: IN A NUTSHELL WHAT WOULD YOU DESCRIBE AS THE PURPOSE AND IMPACT OF ENTREPRENEURSHIP?
A: Entrepreneurship simply put is “when innovation becomes commercially viable”, it is self empowerment. It takes a lot of hard-work and dedication to run a successful business and the impact of entrepreneurship can be seen in job creation.
Q: IN A FEW YEARS TIME, WHAT SHOULD WE EXPECT FROM YOUR COMPANY?
A: By the grace of God, I want the De-ReVerie to be a household name. I want to have world class fast food eateries all over the country and provide jobs for so many people, to be a blessing to the society at large basically.
Q: WHO IS YOUR ROLE MODEL IN THE INDUSTRY YOU ARE IN? A: Audrey Abayomi of Audrey’s cakes n bakes and Funke Bucknor-Obruthe of Zapphire events. They are both renowned names in the Nigerian events industry.
Q: WHAT WOULD YOU SAY TO ASPIRING ENTREPRENEURS?
A: Discover your God-given talents, nurture it and take the bold step of starting your own business. Dare to dream big and work to grow fast. Never stop learning and developing yourself. Most importantly, put God first in all you do and He will bless your effort.