Successful People Entrepreneur of The Month: Samson Kayode Osinaike
How the MD/CEO of Samkay Phone Tech Ltd started his fast growing business with just N2,500.
By Charles Segun ADEGBITE and Daniel Ayokunle Joseph.
A very shrewd business man, an astute entrepreneur and seasoned mobile phone engineer, Mr Samson Kayode Osinaike is the Founder of Samkay Phone & Tech Centre, and Managing Director/ Chief Executive Officer(CEO) of Samnaikay Nig Ltd.
His company deals with selling of mobile phones, phone and computer accessories on retail and wholesale, GSM repair , among others. He is also the authorized operator of Calcare Services in Sagamu.
How He Started
Samkay, as he is fondly called, started building his business career in 2006 by venturing into mobile phone repairs, with two thousand, five hundred Naira (N2500) his father gave him, and a phone kiosk.
His adventure into phone repairing began in 2005, after he came back from Ahmadu Bello University, Zaria, Kaduna State, where he had gone in search of a direct entry admission for a degree course. A friend named Emeka, while they were in the church, simply advised him to go and learn phone repair engineering.
Good Attitude To Work
"Before then I had already worked in a marketing company in Port Harcourt, Rivers State and I emerged the best in three months," Samkay recalled, while narrating his business journey story to Successful People Magazine.
" I was reluctant to learn the job because I believed I was too brilliant to learn jobs like that but Emeka was persistent about me learning the job", he added.
Friend & Parental Influences
According to him, his parents who heard about it , were also persistent about him learning the job also. And, he eventually agreed.
" I was reluctant to learn the job because I believed I was too brilliant to learn jobs like that but Emeka was persistent about me learning the job"
"I learned how to repair phone for six months. So in 2006 I was done learning in October. After that, I went from Sagamu to Lagos, to work as a field underwriter, for about two months. When I couldn't find a client, I returned home to ask my dad in Sagamu for money to start the business.
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"My dad just gave me N2500 and he prayed for me. So I gave one of the guys that trained me the assignment of helping me buy the needed tools. And the guy bought the tools with N2,400 in Computer Village, Lagos and returned the remaining N100 to me. So, in a way I started my business with N2400," he explained.
A Bad, Rough Beginning
Shedding lights on this, he noted that he embarked on the business in a kiosk when he first started. As it is common to everyone starting anything the first time, "I try to work on a phone I was fidgeting because where I learned the work I only watched them, as they were repairing, I didn't have opportunity of practicing what I learned.
"So, the first customer was a mechanic and he made a mess of me that day because I was learning while working on the job. I learned how to repair phone through my customers' phones," he said, while narrating his ordeal in the job.
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Power of Determination & Self Improvement
Speaking further, he revealed that he bought a chart about phone repair. "I started training myself. It got to a time when they started calling me from Lagos to handle a job. And, sometimes I would be called to handle a phone in Mowe(a town along Lagos, in Obafemi Owode Local Government Area of Ogun State) and it all happened within two months.
"Before I knew it, my fame went around. And sometimes people had to be queuing up in front of my kiosk to have their phone repaired, because if any phone was taken to any engineer and they couldn't repair it in Sagamu, they would refer them to me. So, gradually things started getting better and the phone began growing.
Learn More To Earn More
"The business actually started on October 27, 2006. While in the business, I attended the University of Lagos (UNILAG) and studied Business Administration and graduated." He disclosed.
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Challenges Encountered
While looking at the challenges he has faced and those he is still contending with, Samkay said:
"The challenges I face in this business are the same type of problem every Nigerian faces in business. The major problem we are having is challenges in human resources.
"For instance, while ten machine can work interelatedly ten people will not work interelatedly. One will want to sabotage another, which is the most challenging problem we face in the business.
"Stealing is also another challenge we face. People don't mind sqaundring everything you spent your entire life to build.
Impacts Made
As you can see, since 2006 till now we have raised more than 90 apprentices. Most of them that graduated own their businesses, making a living through it, and getting better today," he explained.
Expansion: Becoming Authorized Operator Of Carlcare Service
Speaking on how he became an authorized operator of Carlcare in Sagamu, he told Successful People Magazine:
"I just believe that if it can happen anywhere we should make it happen here as well. Just like we revolutionalised phone parts and accessories business in Sagamu.
"Before we started, if you wanted to buy anything as an engineer you would go to Lagos, and I decided to bring it to Sagamu. Before, I could go to Lagos five times a week. So I decided to bring it to our people and you can get your phone cheaper in Sagamu rather than going to Computer Village or Alaba Market in Lagos State".
According to him, "Carlcare service is the mother company of all Tecno, iTel, Infinix. And phone business is capital intensive with little gain. And Carlcare use manufacturer parts for the phone parts if there is any problem with the phone and if there is any need to swap the phone.
"And the customer service centre is now in shagamu and before we would have to go to Lagos, Abeokuta and now it is very close to you carlcare service don't compromise phone parts it is strictly original and I believe Sagamu deserved the best.
In the whole of Ogun State, Sagamu has always been the leader in business prospect, and remains the commercial centre of Ogun State. All mobile phone company whose product is reigning has a branch in Sagamu. And the Sagamu branch of every organization is the most earning of their branch. It's just that most of them prefer their head offices in their home town. But most of them make more money in their Sagamu branch.
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Advice To Nigerian Youths
His advice to the youths is: "I want the youth to believe that you can start from the scratch and still make it."
He doesn't belong to any association for a reason best known to him, since his business is registered.
"My philosophy about life is that there is no peace of mind in longing for the way things should be".
AWARD
He told Successful People Magazine that he received Oluscene Entertainment Award for being the first phone and accessories business man in Sagamu.
In view of his entrepreneurial acumen and pioneering efforts in charting an uncharted business territory, which has led to the establishment and expansion of mobile phone and computer accessories businesses; including wholesales and retail sales, repairs and other services in Sagamu, which today is a multi-million naira business, we hereby honour him as our:
SUCCESSFUL PEOPLE
Entrepreneur Of The Month (July 2024)
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Weldone bros......keep the flags going
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