Dayo Olaoye is the Chief Executive Officer of Interiorscapes Limited. He tells TOFARATI IGE about his business
What is your educational background?
For my elementary education, I attended Apata Memorial High school, Isolo, Lagos. I went on to the Nigerian Navy Secondary School, Ibara, Abeokuta; and Lagos State Civil Service Model College, Igbogbo, Ikorodu, for my secondary education.
I later studied Crop, Soil and Pest Management at the Federal University of Technology Akure, Ondo State.
I also have certifications in Interior Designs and Decorations. I have plans to get more certifications in information technology.
Do you have any corporate work experience?
No, I have never worked with any company.
What sparked your interest in furniture making?
As an interior designer, the stress of managing people and artisans, such as painters, bricklayers, tilers and others was overwhelming, and that inspired me to focus on furniture making, because after lighting, furniture is the most important component of interior decoration.
What motivated you to start your own business?
I was motivated by the prospect of being my own boss, as well as the profit I stood to gain (laughs).
Did you undergo any form of training before going into this line of business?
Yes, I attended an interior design and decoration school, and after that, I worked with some furniture makers to better understand the scope and concept of making furniture.
Is your company duly registered?
Yes, the company is registered with the Corporate Affairs Commission.
How much was your initial capital, and how did you raise it?
To be honest, I started the business with other people’s money, because I did not have any capital. Since we were manufacturing, I would look for customers and tell them to give me two weeks to deliver their jobs. Based on trust, they would pay, and I would get the job done.
What major challenges have you faced in the course of running the business?
Practically everything about the business is challenging, starting from sourcing quality materials and equipment, to location, then to the artisans, and even the customers.
What do you consider to be the highlights of the business?
The success of the business has majorly been based on our design innovations, quality craftsmanship, consistency, sustainability, and market positioning.
What’s the toughest job/project you’ve ever handled?
We have never had any tough projects, but tough clients. We deal with a lot of clients and projects, and over the years, we have had lots of tough customers.
Who are the people you admire in this line of business?
There aren’t really people I admire in carpentry, but there are people I look up to outside the business.
There are lots of furniture makers out there. What sets you apart from others?
There are some key factors that distinguish us from others in this line of business. A lot of people can carry hammer and nail, but the expertise in our designs is our major distinguishing factor. We understand human relationship to furniture (ergonomics), as well as the functionality of space and furniture. As a result of that, we educate our clients, and give them the best options.
Also, we pay attention to details and material selection. Those are the things that give us an edge.
How do you advertise the business?
Our major means of advert and awareness has been social media. We advertise on social media platforms such as Instagram, WhatsApp, Facebook, Twitter and Snapchat; as well as other Internet platforms, such as OLX and VConnect.
What kind of support did you receive from your family and friends when you started the business?
I got a lot of support from families and friends. Everyone was willing to support me.
How do you deal with difficult customers?
To deal with difficult customers, one needs a special skill. In the past, I did not pick the calls of customers if they were too worrisome. However, effective communication is very important, and one must be patient with one’s customers. If customers bring a design, even if we cannot achieve it 100 per cent, I would tell them to expect about 70 per cent resemblance. However, if I notice that a client is being difficult, I would disengage.
What are the personal qualities you have that have helped your business?
One of the personal qualities I have that have helped my business is time management, because meeting deadline is crucial in this business. Also, being respectful and having good communication skill is important.
What are your short-term and long-term goals for your career?
My short-term goal is to establish a strong client base and expand the business production; while my long-term goal is to expand my workshops and invest in more machines.
I also aim to partner with other manufacturers, suppliers and investors.
What are some of the common mistakes that Nigerian furniture makers make?
We make lots of mistakes, but I will highlight two. The first one is wrong measurements, which can lead to many problems and land one in debt. It is very important to take accurate measurements.
Another mistake is buying wrong materials, such as buying bad or termite-infested wood without treating or fumigating them. If one does that, one would learn the hard way.
