An Entrepreneur's diary of Being Broke and in Debt

[Olulu]

Part 1: An Entrepreneur's diary of Being Broke and in Debt

When I left banking in February 2019, I knew the journey was going to be tough at a point.

I remember "Vusi" saying, "List 10 things you hope you won't experience as you wait for your business to become profitable." Then he added, "be rest assured, 9 of the 10 things would happen to you."

Well, like most optimist and first time (full-time) Entrepreneur, I assumed, the tough rough times won't be long.

"After all, I have been doing spoken word poetry events for a while. Our brand should be able to carry me through," I thought to myself.

However, I did not tell myself, that the spoken word poetry events had not been profitable in terms of liquid cash. It had largely been funded by our salaries.

Upon leaving my banking job, I gathered my severance pay and savings and warned myself over and over again, "you will play it safe, no risk whatsoever, stay within the limits of what you can see and not what you think you can see."

So some months later, when my guys asked me, "How far with War Of Words Season 8?"

My normal logical and playing safe answer should have been, "NO. We would only do it if we get sponsorship."

Instead, my dream and imagination got the better of me (as always) and I jumped right into it.

Yes, I did pray to God about it.

On a certain day at midnight, I said, "Baba God, do we do WOW 8 or not? You know say salary no dey again o, I no want make my wife pursue me comot for house. So Baba God, give me a sign. If you want us to do WOW 8, let rain fall from 6 am today. If not, don't let rain fall at all."

Well, at exactly 5:55 am, the rain started. I was excited and thought. "wow, it is a season of overflow, too much money is coming our way." However, at exactly 5:58 am, the rain stopped.

Haa, which kain sign be this?

Did God get the timing wrong ni?

Should I shift the goal post?

Or did I mistakenly say 5:55 am in my prayer?​

 

[Olulu]

Part 2: An Entrepreneur's diary of Being Broke and in Debt

I know some of you might ask, what is the big deal about getting a sign? Why not just do what you want to do?

Well, my English name is Gideon. Like the biblical Gideon, I am big on God and on signs. So for most (not all) of my major decisions I usually seek for a sign.

And in case you're wondering, what is the big deal about spoken word poetry? Must we organize a show? Well, I've asked myself over and over again, and now I no longer ask again. My gift/ talent is writing, my passion is spoken word poetry, and in these two lies my purpose and fulfillment.

Ok, there was rain, but it fell and stopped before the stated time. So it was a sign, but it was obviously not in line with what I asked for. No rain would have meant no show. But there was rain, so we went ahead with our annual poetry competition, War Of Words Season 8.

We used the same venue from the previous year, and paid only for fuel for the generator. Our service providers got no upfront deposits, we had won their trust over the years. Most of the poets had to pay a registration fee, so there was a drop in the number of entries. Then we sold some merchandise during the 8 weeks of events.

Prior to the start of events in Oct. 2019, the cost estimate was about N5 million. My rent was due early 2020, as well as, school fees for my children. The fear of my wife, made me save for rent, school fees and some for Christmas.

But, isn't it crazy to invest money in something that has no guarantee of returns?

Yes, in reality, it is crazy. But in my dreams, it is not. Besides, nothing ventured, nothing gain. So I would rather regret what I did, then regret what I should have done but did not. If I wanted to play safe, I would never have left banking.

The poets gave it their all, the judges added value & the audience were in awe of the poetic display. It was a great show. The show was awesome & all that.

However, after the show was over, my eyes cleared when my crew served me with about N1.5million as outstanding expenses. This sum was mainly made up of the cash prizes for the top 3 poets & unpaid biil of 2 service providers.

For the first time in my life, there was no safety net of 13th month, salary, leave or the annual upfront allowance.

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