Akin and Oluwatoyin Olatunji-Daniel: We are Living Out the Things We Have Mapped

People

Running Business in Nigeria can be tough, but with dedication and commitment, one can pull through. This is exactly what Akin and Oluwatoyin Olatunji-Daniel have been doing. Visionary, focused, hardworking and exceptional best describe this superlative couple and business partners who have continued to redefine corporate world with their professional work ethics based on integrity, ingenuity and creativity. They are co-founders of Eventecture, an interior decor, retail marketing and television production company based in Lagos. Akin and Toyin have lightened many events with their crafts. After 11 years of running a successful business with wow effect, they decided to expand their tentacles globally, this time in hospitality and others. In this encounter with Sunday Ehigiator, Akin and Toyin share their vision and mission, challenges of running business in Nigeria and why they embarked on their latest exploit.

After a decade plus in entrepreneurship, would you say it has gotten easier?

Entrepreneurship is basically about the visionary’s value proposition. Value addition is a journey and not a destination, it has been a tough journey for us, to the outside world, we have done such amazing, applauded work but internally, we know the challenges and burden we face daily. Today, after 11 years, it has not gotten any easier. I will say we have our good days and our bad days when it has been as Herculean as can be. Now that we have commenced a fresh journey with new subsidiaries locally and globally, especially in spaces, which are slightly different from our trajectory so far, you can imagine the challenge. So, swim or surf, go with the flow.

What have been the biggest challenges of your Eventecture journey and what have been the high points so far?

Running a business in Nigeria can be quite tough. We would really wish for some respite in the operating environment. Quick access to affordable credit for established businesses would be a great start. Some tax holidays or incentives would also be a welcome respite. Small businesses are the heartbeat of the nation and we would do well to nurture them to grow and flourish

What exactly is the nature of your expansion?

We are extending our influence across the hospitality sector. Eventecture Nigeria will now comprise Eventecture, Atlantis by Eventecture, Custom Walls Ng, Three 6 Zero Experiential while on the international scene, Eventecture USA would comprise Bullritos and Asset Connect.

In Nigeria, Eventecture remains. Atlantis by Eventecture offers world class event technology for production, Custom Walls NG is a creative décor brand focused on production of customized wallpapers, and offering bespoke, on- the- spot, wall décor designs to suit a variety of purposes, spaces and expressions, moods and brand requirements targeted at individuals and corporate clients. Three 6 Zero Experiential is an experiential event production and management company to serve corporate clients’ long-standing demands.

On the international scene – under Eventecture USA, Asset Connect is a Property Acquisition & Management Company while our recently acquired franchise, Bullritos, a Tex-Mex Restaurant located in Houston, Texas is a popular restaurant chain renowned for delivering American meals made out of fresh ingredients, generous portions, fast friendly service, a wonderful atmosphere all at a fair price.

With the economy just trying to rebound after the pandemic year, what informed your decision to expand locally and internationally?

Our mentality has always been no retreat no surrender. Entrepreneurship is about looking for opportunities where others see problems. Last year, our industry was practically the most affected by the pandemic and we still had bills to pay and staff with families looking up to us. It was awake up call for us to intensify our already existing diversification efforts. It was time to step up to the plate, especially as some of these companies are meeting clients’ pressing demands based on our track record as a business.

Look at Custom Walls for example, with the working from home, becoming an almost permanent trend, more people need their homes to look aesthetic, optimised so they are energised and happy to work and spend more time in their own space. Three 6 Zero caters to clientele asking us to plan experiential events for their brands especially with our pedigree in producing outstanding events stage, experiential sets, lighting, sounds and more. Each subsidiary is coming to meet a need. The goal of every entrepreneur should be to solve more problems and scale their business basically some sort of diversification of portfolio, like COVID has taught us all.

What pivotal role would you say you play in this industry?

We have earned our bragging rights if we do say so ourselves. Professionalism and diligence with which we have excellently executed every brief has earned us a seat at the table of decision makers in our industry. The Events and Marketing space, especially in Nigeria within our continent, is a highly creative and dynamic space. The decision makers have invested and continue to invest millions of dollars in making their productions happen. It is so wonderful to know when any client has a brief that’s giving them sleepless nights; they know if they can dream it, we’d design and build it! That’s our pivotal role in the industry. We make dreams happen; we build dreams from concept to reality.

You’re looking to delve into the restaurant and real estate sectors next year. How would this help with your long-term growth and improve sustainability?

It’s been eleven years of learning the ropes of entrepreneurship. We have learnt a lot. It’s time to execute all our plans. Food and housing are constant in an ever-changing world, whether in Lagos or in the United States. Food business in the United States is worth trillions of dollars, same with the US Real Estate space which we know is one of the most dynamic in the world .These two industries belong to the hospitality sector so it’s quite expected as we are inseparable with the hospitality business. We are but living out the things we have mapped out on paper.

These new ventures are highly competitive spaces, does this give you cause for concern?

We have done our ground work, and we hit the ground running already. We are also equipped with resources that enable us navigate our way off of any challenges and stay learning and earning. This was the way, Eventecture commenced years ago, we didn’t have much of precedence but we forged new paths in the events and advertising/marketing space and we will do it again.

Nigeria’s business terrain can be challenging: how are you managing to retain your creativity and staying afloat?

Hmmmmm, challenging is quite an understatement, however, we keep rising above the fire. Adapting to change, not letting our wins get to our heads, listening to our stake holders, clients and team members alike are some of the ways we are looking to maintain continuity. Special credit to the amazingly creative and resilient team at Eventecture, they are the real MVPs along the journey, the sleepless nights on site and at the factory, the creative ideas brought to life every time, they have kept us afloat by delivering excellently on practically every brief.

As a key player in this industry, how best could the government support this industry to keep it thriving?

We need policies that support the industry. Our Industry is a creative and revenue generating pillar of the nation. It will be encouraging to get government approved training schools for artisans, even have Event Design, Management & Planning Incorporated into the University Curriculum. Proper regulatory guidelines in place to ensure that things are done properly will be a welcome development.

The events and creative industry is a billion dollar one globally, what can players in this space do differently, to become global players and grow our local economy?

Keep evolving, be intentional, stay focused on what truly matters, collaborate with foreign counterparts, also, standardization of our operations. We have creativity in abundance, however, there’s a huge gap in technical knowledge required to execute these ideas. Once we get this right, we’ll be untouchable.

You’ve said Nigeria’s creative industry is not only very lucrative but one of the most innovative globally, how come this isn’t reflecting for many players financially and in terms of recognition?

There are many moving parts to running a sustainable business. Talent and creativity will never be enough. A lot of players within our industry locally are driven by passion and the love for the job. However, these are only enough to start. There are so many parts to scaling a business and the challenges are ever multiplying. My candid advice for entrepreneurs in this sector is to study and understand the “business of creativity” so as to be able enjoy the rewards that are possible.