Before building a thriving laundry enterprise, businesswoman Nana Otedola says she went through a series of failed attempts and explored several career paths in search of the right opportunity.
Nana, the wife of billionaire businessman Femi Otedola, shared details of her entrepreneurial journey during an appearance on the How Far podcast, hosted by her daughter Temi Otedola and son-in-law Mr Eazi. She revealed that she tested about 10 different business ideas before eventually finding success with her dry-cleaning and laundry venture.
According to her, she initially considered taking up a conventional office job as an administrative staff member, but her husband was not in support of the idea.
She also ventured into buying and selling, hoping it would become a profitable path, but the business did not yield the expected results.
“I tried like 10 other things. I tried to work as an admin staff member in an office, although your dad kicked against it. I tried to buy and sell. I was trying other things while doing the dry-cleaning business,” she said.
Nana explained that her turning point came when she identified a gap in Lagos’ market for a dependable and professional laundry service. While starting the business, she admitted that even some people close to her had doubts about whether it would succeed.
She recalled a conversation with a consultant named Brian, who questioned the viability of the idea.
“I remember a consultant known as Brian said to me, ‘Do you think this will work?’ Your dad also asked me, ‘Do you think this will work?’ Lagos needs a good dry-cleaning and laundry service,” she said.
Despite the uncertainty and questions surrounding the venture at the beginning, Nana remained committed and continued developing the business until it gained traction.
Her story highlights the challenges many entrepreneurs face while searching for a sustainable business model, as well as the importance of persistence and identifying opportunities within everyday needs.
Mr Eazi, who was also part of the conversation, added that the demand for efficient and trustworthy laundry services remains significant in Lagos, noting that the market still presents opportunities for businesses that can deliver quality service.