Good evening listeners at home this is Bekeme, aka Mummy G. O., and you’re listening to the Good Citizen show.
The show is brought to you by CSR-in-Action and is funded by ACT Foundation. So, this week we’re continuing with our Entrepreneurship series.
The week before, the first week, we had Ibrahim. Who runs a new shop, who literally started from nothing, and you know, started from the bottom, now we are here. And then we also had De-Cribbs home last week talking about her sojourn in producing coconut products, coconut oil, coconut flour, coconut everything you know and how she started from nothing to where she is.
You know, on The Good Citizen Show you know what we do. We try to encourage you to make the best of the situation that is Nigeria and so the topic for this week, really is, “Entrepreneurship: How to Make it Happen in the Nigerian Real Estate?”
So, did you know that Nigeria’s real estate sector accounts for 6.39% of Nigeria’s GDP? It contributes 2.78 trillion naira to the GDP of the economy. And yet the real estate sector still has a serious housing deficit, not because you know, I mean, so that is the issue that you know many people cannot afford the housing available, but then also there is also the issue that there is a lot of demand and not enough supply for the type of housing that people can actually afford.
So today in that Entrepreneurship series, we’re talking to the one and only CEO of Lagos.
As I like to say CEO of La La. (Bekeme laughs). CEO of La La. Because, I remember growing up, my mum was called Mummy Lagos and so the, you know, some of my cousins from the east or even a family friend from the UK use to say, Aunty La La. So, when I think of you and I think, I think of CEO of La La.
The one and only CEO of Lagos, Ichechi Tunaro Okonkwo. She is our real estate mogul.
She is a member of the real Estate Developers Association of Nigeria. And has been recognized with several awards, including most innovative enterprising real estate company inside Business Africa Qupid Excellence Award 2016 Best Enterprise, best Manager Socrates Oxford, UK Award 2017. Nigeria’s Entrepreneurs Award Real Estate company of the Year, 2016.
Distinguished Customer award Philatelie Bank 2015, amongst others. She is the MD CEO of Laundry King, a leading laundry and dry-cleaning company, with its headquarters in Lekki, Lagos, Nigeria. She is also a graduate of the inaudible even major university Okada, where she acquired a Bachelor of Science degree in industrial Chemistry, I beg your pardon. she worked at Guaranty Trust Bank in e-business and cloud services. And then systems and Control Group as an internal auditor for several years before she became the one and only CEO of Lagos.
BEKEME: Welcome to the Good citizen, Ichechi
ICHECHI: Thank you so much, Mommy G. O.
(Bekeme and Ichechi laughs)
Bekeme: Because I was reading your names, I mean I’ve always said Ichechi, and you know, for the course, for this program, actually, you know, we had to look you up and everything I saw, Ichechi Chinaro Okonkwo. Ichechi, meaning what, the mind of God?
ICHECHI: God’s thoughts
Bekeme: God’s thoughts
ICHECHI: Chinaroigole, is the full name
Bekeme: right. So, all praises to God.
ICHECHI: Well. Yeah.
BEKEME: All praises to God.
ICHECHI: Technically
Bekeme: Right, so basically, we are praising God now (Bekeme and Ichechi laughs). When I think of your of your Instagram page of the past week and your buga videos, and I was like oh my goodness. (Ichechi laughs) Do you know that I literally learned about that song through you? (Bekeme and Ichechi laughs). Literally. I didn’t know that song.
Ichechi: so, you are looking at an influencer, you know?!
Bekeme: Absolutely. I had no clue. And then one day after seeing, as I will go on Instagram, and I see Buga. In the office, Buga. At home, Buga. I found myself singing Buga o (Ichechi laughs). And my son was like, you know Buga too.
Ichechi: My friends wake up humming Buga
Bekeme: And the interesting thing I think is, before I knew about your presence on social media, you know, as a person, I mean, you are not necessarily necessary the person that is on social media. Right (Ichechi laughs) You are not. How do you do that? So clearly you do that for business or something because you know, as I had known you for a long time
Ichechi: Yes. You actually told me that I didn’t know you on social media. (Bekeme laughs). I think you mentioned it was your husband.
Bekeme: Absolutely. But who said, oh, like when I saw her, I was like wow. (Bekeme and Ichechi laughs). This is it totally different person. And I do find that w ith influencers and people with huge fellowship on social media, you find that they are not necessarily extroverted, so it’s basically a platform that you consciously utilize to achieve your ends.
Ichechi: Absolutely
Bekeme: Ok.
So now that you know we to segue right into why we’re here today. Because you know, obviously you are an entrepreneur. You see opportunities you take advantage of the opportunities that you find. How did you enter into real estate and make such a success of it?
Ichechi: So to put it in a proper context, I came into Lagos between 2006 and 2007 and I came actually for my youth service. So during the youth service I eventually served with Guaranty Trust Bank
Bekeme: Hmmm
Ichechi: And then I got retained. Afterwards went to training school and all and. I was there for a couple of years. During this time, my partner and I who is my husband now found each other and a couple of years down the line we got married. So I fully settled in
Bekeme: (Cuts in) hmmm
Ichechi: in Lagos. Afterwards and so as a young wife, a young mum, a bank girl, I was experiencing high level stress
Bekeme: hmmm
Ichechi: at some point
Bekeme: hmmm
Ichechi: and I looked deep, and I saw that this stress was not unique to me. It was shared between my colleagues and I.
Bekeme: hmmm
Ichechi: At the time.So, Lagos is an urban city lifestyle
Bekeme: hmmm
Ichechi: We call it hustling and bustling (Bekeme and Ichechi laughs). So everyone is on the move.
Bekeme: Yes
Ichechi: Monday till Friday.
Bekeme: Yes
Ichechi: We are all busy working, you know, to keep that lifestyle that we also dream about.
Bekeme: hmmm hmmm
Ichechi: And then during the weekends, there are so many activities ranging from personal development activities to family functions, to different owambe, even work. So, you have to sometimes go for trainings and all. And on top of all this, you still have to run your home.
Bekeme: hmmm
Ichechi: You know you still have to do those chairs that require your attention, and one of those chores everyone loves to hate is laundry.
Bekeme: Right
Ichechi: (Laughs) So every Saturday you have to clean Lauder, cook, you know, tend to your family whilst doing every other thing including owambe in Lagos. (Laughs). It was studios, right?! Monday to Friday. today and then Sunday, you have to come back, and I don’t know the clothes that you’ve washed, you know, so it was quite evade, and so identifying that thing that not, wasn’t only unique to me, but to you know, my professional colleagues at the time
Bekeme: hmmm hmmm
Ichechi: I had to think of a way to come in to solve that problem, and that’s what birthed my entrepreneurship journey and so laundry King was birth.
Bekeme: hmmm
Ichechi: And a few months after this, I figured that the business needed my time and so I had to resign.
Bekeme: Okay
Ichechi: I’ve been fully attending to it
Bekeme: right so that was laundry King, and you know we’re going to real estate land, but then there is something that you did see that struck me because every time people approach me and say, oh, Bekeme, you are doing well in business. What do you think I should do? You know, I say, what do you know how to do, and you know? What is your passion? And more importantly, what is the needs you’re trying to meet?
Ichechi: Absolutely
Bekeme: Absolutely. So business successful entrepreneurship is actually about providing the solution to a need. An actual need. Not an emerging need
Ichechi: Hmmm hmmm
Bekeme: An actual need. And then you did that. Now, whilst you are talking about your real estate story and let me stop you again and you know, tell everybody. I mean, the first House that we bought in Lagos.
Ichechi: Yeeeee (Laughs)
Bekeme: After they ate our money the first time
Ichechi: Up VCH (Bekeme and Ichechi laughs)
Bekeme: The first house we bought in Lagos, we bought from you and your husband
Ichechi: Thank you so much.
Bekeme: Absolutely an absolute pleasure because I see that every time that you make a promise on developments, you actually follow through, we don’t hear those stories of all they paid money. And then they didn’t complete again or, you know, because we had that already, we had our money eating literally till date. We never, we never knew what happened with that money.
Ichechi: Oh wow.
Bekeme: We let it go. We let it go. I had initially, push, push, push and I realize that these ones are not even serious. We it you go.
Ichechi: So, you and M.O. are going to come and tell me your real estate story
(Bekeme and Ichechi laughs)
Bekeme: Our real estate story is very brief and to the point. But, we eventually bought from them, and you know, and I have seen, and this is something I always said to you and to doctor Ned, I have been very proud to see your progress. I mean, I don’t know where you were at the time that we purchased, but in that time, in that intervening time, I have seen you know you grow, you know from lips, you know to bounds
Ichechi: From single unit houses on you know, the streets to the community
Bekeme: Absolutely. I have seen how you have transformed the face of that area that you know, suburb area of Lekki. And you know and you are moving further in everything, and so why that? How did you get into real estate? And can you tell us you know about that journey because every time people see someone having excelled in an industry, you think oh, they had connections.
So, you know it must have been rosery. Everything you know must have been laid out for them. The red carpet would have been rolled out for them and actually, that’s why we are having these conversations, because, you know, we know that are opportunities. So how did that come out?
And if you’re listening wherever you are at home, you’re listening to the Good Citizen show.
Do call us on 0700-923-9292. Again is 0700-923-929 to ask her the questions.
The most pressing questions that you want to know either about you know starting a business or getting into real estate. You know this is your opportunity to get involved in this discussion. So, over to you Ichechi
Ichechi: So, after I resigned and left the bank. The story of how the organisation was incorporated, definitely will be told by Doctor Ned (Bekeme and Ichechi laughs). So, after I left GT Bank and I had spent a couple of years formulating, you know destruction processes in laundry. At one point, you know I got, I got bored because, you know it would run on its own
Bekeme: Hmmm
Ichechi: without me necessarily, you know, being there.
Bekeme: Because you were not washing by yourself anymore. Because you weren’t delivery woman.
Ichechi: Yes, at some point I was utility stuff.
I was, you know, pickup girl, customer service, delivery, accounts and finance.
Bekeme: Hmmm
Ichechi: And also at some point I had, you know, built my people.
Bekeme: hmm hmm
Ichechi: We have built the structure, so everything didn’t, you know, depend on me and I didn’t need to physically be there all the time. So, I needed, I am that kind of person who likes to aim really high
Bekeme: Hmmm hmm
Ichechi: Take on new challenges.
Bekeme: As you should.
Ichechi: Raise the bar. And so, I needed something you know to challenge me at. That time because. I felt I was very comfortable in that environment, so I needed to move. I needed to, you know, get uncomfortable again. And so I started looking for other options, what next, what you know? What could I do? And then every business idea I came up with everything I thought to do, I took to my oga at the top, Doctor Ned. And he would you know he would say it’s going to always defend (Laughs) your project. (Bekeme and Ichechi laughs) He would say no and dissect everything and tell me why this.
Bekeme: Will not work at.
Ichechi: And at the end of the day what hee was just trying to do and tell me was you’re not going to be putting in so much for so little
Bekeme: Hmmm hmm
Ichechi: So, you need to think of what you would you know, not put in so much, but at the end of the day, be very comfortable doing it.
Bekeme: Hmmm
Ichechi: That challenge that you’re looking for, you know, be able to take it on
Bekeme: Hmm hmm
Ichechi: and gradually you know, build yourself up to success ladder. And so, after several trials I decided to restructegize. I initially was doing the real estate on the background, you know, just refer referrals to our business. And I wasn’t doing it as a proper business
Bekeme: Hmmm
Ichechi: So, I decided to take on one of our subsidiaries and begin to market our properties officially. And so, I told him about it. I bought cars, hired stuff, you know.
Bekeme: Hmmm Hmm
Ichechi: So that it’s easy for them to move around to do inspection and all. And then I knew I wanted to do it different.
Bekeme: OK
Ichechi: I didn’t want to come into this space and just exist.
Bekeme: Hmmm
Ichechi: I wanted to be uniquely different.
Bekeme: Hmmm Hmmm
Ichechi: And I hope I am really doing (Laugh)
Bekeme: I believe you are
Ichechi: So, that’s how I got into real estate. And then a few years down the line, he saw what I was doing, and he said babe, it’s time for you to come in fully
Bekeme: hmmmm
Ichechi: and then take over the mantle of leadership.
Bekeme: So, what was he doing initially? How was he selling his properties?
Ichechi: Doctor Ned is a born Marketer
Bekeme: Hmmm
Ichechi: Outside the marketing I tell people your product you know outsells itself.
Bekeme: Hmm hmm
Ichechi: If you actually give the value that people are looking for
Bekeme: Hmm hmmm
Ichechi: So, he vests, he invests so much in you know, in actually meeting that need
Bekeme: Yes
Ichechi: So, he identified what people were looking for. Growing up a lot of us wanted to live that lifestyle where we had, uhm, swimming pool. All the social amenities you can think of because most times you have to go to a hotel or a clubhouse to be able to use those amenities.
Bekeme: Yes
Ichechi: Right? Or you have to be living in highbrow area
Bekeme: Hmmm
Ichechi: with really rich parents you know to be able to afford that lifestyle and so he looked at the lifestyle and said this is a dream a lot of people have. if we can find a way to build that dream into communities,
Bekeme: Hmmm
Ichechi: then you know would have made them, would have helped them actually realize these dreams. And so that’s how.
Bekeme: (Cuts in) So you’re helping a lot of middle class, you know singles families to achieve that life of their dreams
Ichechi: Absolutely
Bekeme: So, you don’t necessarily need to leave
Ichechi: (Cuts in) leave live on your own in this.
Bekeme: I don’t know.
Ichechi: Single house yeah, yeah.
Bekeme: Banana Island or whatever and pay through your nose. You actually can have that same experience wherever you are.
Ichechi: Living in a VCH community, yes.
Bekeme: Absolutely. So, what I mean, so you said Doctor Ned obviously had gone into real estate, and you know you joined in. You brought this expertise around something that I like to say to people. I just I even said it at our morning discussion today and for me to be able to sell something convincingly, I have to believe in what I’m selling.
Ichechi: Yes
Bekeme: You know, and that’s what you’ve pointed out. You need to aim for excellence
Ichechi: Hmm hmmm
Bekeme: When you actually are in charge of producing something, or when you’re leading whatever, and that’s a conversation that can be had for any industry that you know anybody seeks to going to.
And again, let me just remind everyone it’s 0700-923-923-923 and you don’t whether they will give you a short code for a discount of a house (Ichechi laughs).
So, for so you better call in at 0700-923-923-923.
So, let’s go to the issue of Lagos and how is it? Or if I may start, let’s go back to you as a woman in a male-dominated market. As with any profession in Nigeria, I see that a lot of women do not consider themselves being taken seriously when they enter into real estate. So, you know. Oftentimes it’s who is behind you and all of that. So, can you tell us about? You know any specific strategies that you used to overcome this perception or this attitude to you being in this business.
Ichechi: OK, So, I don’t think we need to constantly overflow this particular issue, because the truth be told, even the men don’t have it handed to them there’s times. That so having that in mind, anyone can excel anywhere. Anyone’s grass can be green. The only difference is in your resolve.
Bekeme: Hmmm
Ichechi: And so I’ll say, when I decided to go into real estate, I already knew in fact, from the very first thing I did outside my bank job but laundry business is, it’s a male dominated space,
Bekeme: Yes and right.
Ichechi: Time I started there was little or no mentorship.
Bekeme: Hmmm
Ichechi: And so, I had to learn.
Bekeme: Hmmm
Ichechi: So anyway, you are in any industry the same as pilots. Everyone will say it’s a male dominated space.
Bekeme: Yes .
Ichechi: There are women there now excelling
Bekeme: Yes. Yes
Ichechi: and it’s just their resolve. If you want to be there, you’ll do everything to ensure that you excel there. search and find
Bekeme: (Cuts in) That you know your onions
Ichechi: A way to own your place
Bekeme: Hmmm
Ichechi: Humble yourself and learn
Bekeme: Hmmm
Ichechi: Humble yourself and learn from those who have gone ahead of you
Bekeme: Absoultely
Ichechi: So, when I came into real estate, I had very small clue. My dad was, my dad is a surveyor and so I’m not very I wasn’t, you know, I wasn’t a novice, so to speak. Because he used to do a lot of construction too back home. So, all the lands that he gets, he is always building one thing or the other, but I didn’t pay particular attention at that time.
Bekeme: Hmmm
Ichechi: It was when I started working with my husband that I started I paying attention so I would everybody who knows me knows I’m fashionable. I love to wear heels and all, but then when I get to site, I take off my shoes. I have my Crocs or my sneakers in the car. I go into that sun everyone is avoiding
Bekeme: Yes
Ichechi: Yes. I ask the questions that need to be asked.
Bekeme: Absolutely
Ichechi: I observe what they’re doing, I learned on the job.
Bekeme: Hmmm
Ichechi: I learnt to ask questions. I sought the knowledge I needed for project management, finances, and construction, sales, name it
Bekeme: Hmmm hmmm
Ichechi: I learnt
Bekeme: Hmmm hmm
Ichechi: And so, anyone can decide to take on anything, but you just need to first make up your mind that you want to do it.
Bekeme: Yes
Ichechi: And then you get all the relevant knowledge that you require
Bekeme: Absolutely. And don’t actually think that because you’re a woman you know, things should be made easier for you
Ichechi: No. Even the men most more often than not, it’s just that we have. We have, we still have the girl child education issue, so you have more men exposed than women. And then, of course, cultural differences, so you have. You know more men with you know upper hand when it comes to places where they can, you know they’re allowed to speak for herself.
Bekeme: Yes
Ichechi: Express themselves
Bekeme: Yes. Yes
Ichechi: you know because of our culture
Bekeme: Yes
Ichechi: But then, nothing stops any woman from doing anything
Bekeme: Hmmm
Ichechi: Yeah
Bekeme: Yeah. So, if they don’t invite you into those room, create the rooms for you to be
Ichechi: break down the walls.
Bekeme: Break down the walls. Do whatever you absolutely need to do to get where you need to go, so (Call comes in)
Bekeme: Hello
(Call ends abruptly)
Bekeme: We’ve lost that call. We had a caller trying to call him.
(Call comes in)
Bekeme: Hello. Hello. Hello
Caller: Good evening.
Bekeme: Hello good evening. Thank you for calling The Good citizen show. What’s your name?
Caller: Yeah, my name is Mr. Awosan.
Bekeme: Mr. Awosan?
Caller: Yea
Bekeme: Alright sir. What’s your question today?
Caller: Yeah, I’m quite impressed by the story of the lady in the studio.
Bekeme: Yes
Ichechi: thank you.
Caller: How she started. The laundry business and how she went into their real estate, so I’m impressed.
Bekeme: Thank you very much.
Caller: I would like I would like to know the name of the real estate company, especially you, so long that they, they dealt with you very well
Bekeme: (Laughs)
Caller: and that is the kind of repair that we are looking for. Not those that took your money, and they ran away.
Bekeme: Yes
Caller: So, we would like to have like to know the name of this company, how we can contact the company. Thank you very much.
Bekeme: All right over to you. Thank you for calling.
Ichechi: Thank you so much Mr. Awosan for your kind feedback. UM, the name of our company is Victoria Crest Homes, and you can find us on all social platforms and on our website. You can just check www.victoriacresthomes.ng
Bekeme: All right, thank you. So finally, before we go again, this is for the benefit of those listeners who think you know. I’m a mom. How can I do all these things? So, can you share some strategies around how you manage doing all of this? Because I know it’s not easy. I know how it’s not easy for me. I know how I stay till 3 AM and sometimes, 5 AM in the morning, trying to make things work so but what tips would you say that you have for being you know, a full-time mom and a full-time entrepreneur?
Ichechi: So, uhm. I would say that none should give way for the other. Yes, you would have to find a way to integrate every aspect of your work life and your family life, and that’s what I you know that’s what I have continued to do. So where you need support, you get the adequate and right support at every point in your life.
Bekeme: Hmmm
Ichechi: But then you shouldn’t allow anyone suffer. So, growing up, my mom used to always say something to my my sister and I especially. She says it to all of us. But, two of us who are the girls
Bekeme: Hmmm
Ichechi: Especially she would say. you have to learn to keep all your balls in the air.
Bekeme: Ok
Ichechi: It’s juggling variety, so none should drop.
Bekeme: Right
Ichechi: You can drop yourself development.
Bekeme: Hmmm
Ichechi: You can’t drop your children’s education. You can’t drop your marriage. You can’t drop being the best mom.
Bekeme: Hmmm
Ichechi: You can’t drop being an amazing wife. You can’t drop being the best boss, you can’t drop anyone. And so you have to find a way to integrate them all. There’s no, so you know it, It’s difficult to say that there is a balance. There is no balance there is.
Bekeme: There is a tall order for women who is basically, just the goddess in this world.
Ichechi: There is no balance. So you have to find a way to integrate them all and get the support you need when you need them.
Bekeme: OK, so four quick trivia questions before we go. Billionaire or Billionaire.
Ichechi: Billionaire
Bekeme: (Laughs) Cook for your husband or hire A cook.
Ichechie: Both
Bekeme: OK
Ichechi: I do both. I’m not a superwoman so I can’t be in the kitchen, being in school. I’m coming from school now. So, you mentioned how do you be in Mum, be a wife?
Bekeme: Yes
Ichechi: So, I had to be in school because my kids had spelling bee today
Bekeme: Okay
Ichechi: Now if this thing needs food right now, I’m here with you. So, what happens?
Bekeme: You can’t split yourself into 3, can you?
Ichechi: Yeah, thank you. (Bekeme and Ichechi laughs)
Bekeme: Drive your kids to school or use the school bus.
Icheci: Ah no, I don’t do school bus.
Bekeme: OK. Finally. leaving Nigeria or overseas.
Ichechi: Second. So, the only thing that I would say to that is, we all have to make sure infrastructure works better in Nigeria, that’s what a lot of us are running away to other countries for
Bekeme: And you are contributing to that infrastructure that we so badly need.
Ichechi: Yes
Bekeme: Thank you so much Ichechi
Ichechi: (Cuts in) Thank you, thank you.
Bekeme: Chinaro Okonkwo. CEO VCH homes. Thank you so much for joining us today. Ichechi is actually starting her own entrepreneurship series talking about her real estate journey on her YouTube channel. So do go follow her and thank you so much for listening to the Good Citizen show.
It’s been me Bekeme, AKA the one and only, Mummy G. O., Every other one is fake.
Same time. Next week, Friday at 5:30 PM, we’ll be here to bring the show.
Take care, God bless and bye bye.
Rea
