Economics • Entrepreneurs

How a temporary income became permanent for Abimbola Balogun

13 Mar, 2018 • by Fashionomics Africa
How a temporary income became permanent for Abimbola Balogun
Fashionomics Africa

Abimbola Balogun, also known as “Bimbo” Balogun, graduated from the petroleum training institute in Warri Nigeria in 2006, and just as many others, was trying to find herself a place in the corporate world. She had applied to several jobs and was waiting for the response of several petroleum companies, when she decided that while she was waiting for a more permanent job, she would try to earn a few bucks by doing something she loved, beading jewelry.

 

In order to star her small business, Bimbo invested 400 Naira, which are around 3 dollars in beads, and started out by making 2 necklaces. When seeing her market, and trying to sell her work, she found out that they each sold for 5,000 Naira, and she earned more than 1000 times what she had invested. It was in that moment, that she found out she had a great business in her hands and decided to get more serious about it.

 

Today, Bimbo says that it was very tough starting out since she had no experience in the jewelry business and had to break into the top tier of the market. She was however, with a lot of hard work and consistency, able to grow her work into what is now a nearly 5 million Naira business. Due to her highly business oriented and entrepreneur attitude, she also won a scholarship to study entrepreneurial management in Lagos business school, so it was there when she started educating herself in order to catch all the right tips on how to manage a successful business.

 

After many years of work, Bimbo today makes jewelry for celebrities, wives of famous politicians and wealthy women of Africa. She now also hosts a tv show focused on the secrets behind jewelry design. This of course, has helped her market her business and be better known in Africa.

 

Bimbo’s experience shows how you can start your own business from your very own home, and that the most important thing is that you love what you do. Choose something you are great at doing and always think big. Just like Bimbo, maybe you too will someday have a brand that is starting to expand all across the continent.

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