He needs no introduction in the
Telecom industry. Engr Nnamdi Ezeigbo has a solid pedigree in the
telecommunications world. The fact that he knows his onions made him the one to
follow in the industry. Recently, he spoke to Beth News on how he started SLOT with only N5,000.
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| Engr Nnamdi Ezeigbo |
Could you pls give us an insight
into your formative years?
I am from Umuahia in Abia State but
I grew up in Sapele, Delta State. I came from a very humble family and my parents
at that time worked with a neighborhood subsidiary company of Unilever called
Pamol. Although we had and enjoyed three square meals daily, but we were not
very comfortable, in the sense of it. I had my Primary and Secondary Education
in Sapele but had to move down to Lagos for my Tertiary education. I attended
Yaba College of Education where I studied Electrical Electronics before I moved
on to Lagos State University, Ojo where I graduated in Electronics and Computer
Engineering.
Relevance of courses to birth of
Slot Systems:
My educational attainment did not
influence the birth of SLOT SYSTEMS LIMITED in anyway. This
is because I started as a Computer Engineer as Phones and Laptops were not in
vogue then.
I could not get the type of job
which I longed for in 1994 when I graduated which made me waste two solid years
seeking for salary job. The job search continued for some time before I met a
close friend who had a computer repair and engineering outfit. My staying with
this friend really opened my eyes to opportunities whereby I gathered the
technical skills and knowledge needed for fitting computer and allied wares.
The training received at the place prompted my starting as a computer engineer
in a small office space. This small beginning of fixing computers opened the
doors for our assembling computers for corporate bodies and individuals.
How did you get into GSM Business?
We decided to diversify into the
GSM business when government started Global System for Mobile communication
called GSM now in 2001. Personally, I envisaged that the industry would thrive
because as a computer engineer as at 1998, I had a clear vision of what I was
doing. By year 2001 I had developed the competence to grow a business as I
never relaxed one bit. I had gotten relevant training in areas of
Administration and management. This preparations so helped me when the
government decided to privatize telecommunications in Nigeria, I saw lots of
opportunities for businesses and means of expansion and growth for
entrepreneurs. I attended some related trainings, seminars and workshops
organized by people already positioned for success.
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| Ikeja Annex |
How did Slot begin?
Like I explained earlier we started
as a computer engineering outfit in 1998 with Slot as the name of the
Organization, which was the name we used until 2001 when GSM came.
Why the name “SLOT”?
The name came when we were fixing
computers. Our Patrons discovered that in the process of fixing their systems,
I am always recommending the panel with Slot processor that is very robust of
the two types of motherboards in computers. It was when customers and friends
noticed this that they start calling me “Slot”.
Thereafter, I personally looked
into the dictionary for the meaning and found out that it means space. The name
fits since people prefer snappy, lovely name that is easy to pronounce.
How did you raise Capital for
startup?
We encounter lesser problems in
area of Human Relations because we leveraged on relationship capital. My team
and I were able to create cordial relationship with our customers and one of
such very close patrons helped us pay for our first office. I told you that I
set out repairing computers in a small lock up shop which I shared with a
friend. It was this place we got jobs, rendered services, sell printers which
proceeds we used to pay for a bigger space as office outlet.
Can you share some past mistakes?
Our major mistakes were in the
early stages, especially in the first five years, particularly in the areas of
personnel. This was because we got wrong people for right jobs. We involved
family members and friends, in-laws and relatives. It was the greatest mistake
any good business could ever make. On discovering this error, we promptly
embarked on a thorough re-engineering process of the entire system. We searched
for and got the right people to set the business back on a solid ground.
What other business have you
ventured into?
My business interests cut out
across boards. Presently, I am into Hotel and hospitality business. I am very
happy at the growth as believer in incremental growth. Real Estate is another
business that also catches my interest.
Have you recorded any regret so
far?
Non really. I think my only regret
is that my Dad is not alive to see what I have become today. Otherwise, I don’t
have any regrets.
How would you advice young
entrepreneurs:
They should not be afraid to start
small. Also, integrity is key to success of any business. They should build
their brand on trust – allow people to rely on them and believe in their
products. Finally, up-coming business persons should avoid fast means or
shortcuts to get rich quick, the end does not portend any good for the business
or its owner.
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