Ihieri Michael Uchenna, the CEO and founder of Woleth Enterprise is on a mission to motivate startups in Nigeria. He believes that budding entrepreneurs need to observe the successful entrepreneurs in other to survive and thrive. His startup Woleth Magazine which is said to debut in June 2019, is a magazine meant for inspiring and motivating youths to indulge in entreprenuership by revealing the pros and cons of it. InterviewStories was able to get across to this change maker and he talks about his entrepreneurship journey, how he started and what made him to stand out to create Woleth Consulting.
Can we know you?
I am Ihieri Michael Uchenna. CEO and founder of Woleth Enterprise. I am from Imo state. I am from a family of five.
Were you an entrepreneur during your school days?
Yes… Its always been something I love doing. I started a campus magazine in my second year at school and in my final year at the University of Lagos, I started a campus cinema.
Can you tell us more about those ventures?
The campus magazine was known as Stoosh magazine, it didn’t really get much acceptance and crashed really early due to the cost of printing a magazine that was given off freely. Spade cinemas, however, created much buzz, I had partnered up with a marketing brand in school and we really put a lot of work into it. But I received a call from the school dean of student affairs prompting that the movie shows should stop. That was how those ventures died.
Were those ventures profitable?
No, I made huge losses on every venture. But I was doing what i loved and that was enough to keep me going.
Does that not mean that you should stop venturing into business?
Being an entrepreneur means you are tasked with both taking risks and running a business. One can always learn how to run a business from experience or from others. I believe I’ve learned a lot from experience.
What mistakes did you make that made those ventures to be unprofitable?
I paid for things I should have gotten for free. Experience teaches you a lot. There are so many things I paid money for which I would have gotten freely. Although making profits wasn’t the apex of why I ventured into the business in the first place, losing money was no way to sustain the business.
Did you start Woleth Enterprise after school?
Yes, I did. A few months after graduating, I decided to start working on Woleth. It was difficult but interesting all the way.
What do you do at Woleth Enterprise?
Woleth is an investment company. We engage in various startup projects and invest in other startup establishments. It is presently 1 year old. We have developed Woleth consulting and are working towards our next engagement which is Woleth magazine. However we have not made any significant investment in another start-up, we would begin doing that soon
What type of investment does Woleth Enterprise do?
Permit me to keep details of that to myself for now. We would start the external investments next year. There are still a lot of work to be done internally, we want to strengthen those areas first
Tell us about Woleth Consulting?
Woleth consulting provides customer feedback on the client’s marketing content and strategy. We also advise clients on the best strategy to fix lapses in their campaign. Woleth enterprise is a registered company operating two startups. Woleth consulting and Woleth magazine.
Is Woleth Consulting is profitable?
So far, we are doing well.
How are you able to get customer’s feedback on the client’s marketing content and strategy?
We conduct detailed research getting our respondents from the potential customer population
What makes Woleth consulting standout?
To us, it is all about our client. Their success is what we value the most and we show this to them each time. We also, support the smaller brands that join our community for free
Do you have partnerships with other big companies?
No. Our brand’s mission is to support startups with the marketing support they need to grow and that is what we are doing.
Do you plan to partner with these big companies in the future?
Woleth consulting has no plans for that.
What future plans does Woleth Consulting have?
There are great plans to broaden the reach of Woleth consulting. I can however not reveal the details for now. We plan on doing an event to expose the future plans of the venture
Tell us about the other startup at Woleth Enterprise?
The latest is Woleth magazine set to launch this June. The aim of Woleth magazine is to inspire and motivate youths to indulge in entrepreneurship by revealing the fun, luxury, challenges, successes and recognition associated with entrepreneurship.
Does that mean Woleth magazine is a means of promoting your clients in Woleth consulting?
No. It’s not just about showcasing startups for Woleth magazine. It is about motivating startups, And for that budding entrepreneurs need to observe the successful entrepreneurs
What made you start Woleth magazine?
There’s so much publicity for entertainment. Very little for entrepreneurship. As I work towards being an agent for positive change in Nigeria, it is clear that an avenue to publicize startups is needed. So I had to embark on the project.
What should we be expecting from Woleth magazine?
Expect interesting stories, interviews from successful entrepreneurs, several analysis and so much more. It will be available in print and Pdf. The print version will be available for order on our website and newsstands Nationwide while the Pdf will be available for free downloads on our website.
Any major distributors to get the magazine from?
We are still working on those areas. The print magazine will be available in all states of Nigeria for now. You can also order a copy on our website. We are also making arrangements with a popular supermarket to have our magazine on their newsstand nationwide. I would refrain from mentioning names until we have come to an agreement. We plan to cover everywhere
What makes Michael unique as an entrepreneur?
I like to think I am innovative. Creating new ventures is a hobby.
Where should we expect to see Woleth Enterprise in the next two years?
We aim to be the foremost startup support company in Nigeria by then.