Jaiyeola Joseph Iperepolu is the CEO of Dujax Communication and X-Right Technology, a company that was launched in 2014, with outlets in Agege, Abule-Egba and Berger, all in Lagos. The graduate of Business Administration opens up on how he started business with virtually nothing. Excerpts:
How did you come into business?
I started by selling recharge cards as a part time student in the university. When I started my NYSC, I delved into the business fully. After my NYSC, I added the sales of phones before registering X-Right Technology to enlarge the business.
I started by selling recharge cards as a part time student in the university. When I started my NYSC, I delved into the business fully. After my NYSC, I added the sales of phones before registering X-Right Technology to enlarge the business.
How did you get fund to start your business?
I got money through my N200 daily contribution, which I used to start bulk sales of recharge cards.
I got money through my N200 daily contribution, which I used to start bulk sales of recharge cards.
How affordable are your products?
We have the cheapest phones and offer home delivery service. We have products for those who do not want to pay cash. We have phones for low-income earners and the rich. X-Right Technology is not only after the rich, we consider low-income earners as well. There are some products that the manufacturers don’t give warranty but we give warranty. When you have a problem with your phone, we change it for you to a new one. We deal with popular brands like Samsung, Infinix, Nokia and Sony among others.
We have the cheapest phones and offer home delivery service. We have products for those who do not want to pay cash. We have phones for low-income earners and the rich. X-Right Technology is not only after the rich, we consider low-income earners as well. There are some products that the manufacturers don’t give warranty but we give warranty. When you have a problem with your phone, we change it for you to a new one. We deal with popular brands like Samsung, Infinix, Nokia and Sony among others.
What are your challenges?
Nigerian environment is so challenging; there are economic, management and power problems among others. The dollar keeps fluctuating every day and it affects our business. The exchange rate of dollar yesterday is not the same today. A product you bought 10 dollars last week is more than that this week. It is a big challenge because this might prevent new customers from patronizing us. This is a global problem affecting everybody. There aren’t enough funds to run a phone business. Putting six to 12 brands together requires funding. If you want to sell Tecno, it requires about N50 million. If you want to go into business like this, you must have N50 million to kick off and banks are not ready to assist you. The tax regime is not encouraging; there should be an incentive for indigenous companies. The government should not expect us to pay what the multi-national companies are paying as tax. There should be benefits for the citizens in business.
Nigerian environment is so challenging; there are economic, management and power problems among others. The dollar keeps fluctuating every day and it affects our business. The exchange rate of dollar yesterday is not the same today. A product you bought 10 dollars last week is more than that this week. It is a big challenge because this might prevent new customers from patronizing us. This is a global problem affecting everybody. There aren’t enough funds to run a phone business. Putting six to 12 brands together requires funding. If you want to sell Tecno, it requires about N50 million. If you want to go into business like this, you must have N50 million to kick off and banks are not ready to assist you. The tax regime is not encouraging; there should be an incentive for indigenous companies. The government should not expect us to pay what the multi-national companies are paying as tax. There should be benefits for the citizens in business.
How often do you train your workers?
We have seminars once in a week, every Thursday. We also pass information we get online to them, to get them equipped and prepared for better services for our customers. We have a training partner who trains them once in a month.
We have seminars once in a week, every Thursday. We also pass information we get online to them, to get them equipped and prepared for better services for our customers. We have a training partner who trains them once in a month.
What has been the driving force in your business?
In phone distribution business, w
What your need to watch out for in this business is the after-sales service. When a customer buys a phone from us, within three weeks, the customer will receive three text messages or e-mails from us appreciating him or her. We also call our customers after a week of buying phones to know if they are finding it difficult operating the phones. We also tell them to recommend our company to their friends, family members and colleagues. We do all these to make our customers happy.
In phone distribution business, w
What your need to watch out for in this business is the after-sales service. When a customer buys a phone from us, within three weeks, the customer will receive three text messages or e-mails from us appreciating him or her. We also call our customers after a week of buying phones to know if they are finding it difficult operating the phones. We also tell them to recommend our company to their friends, family members and colleagues. We do all these to make our customers happy.
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