Olayinka’s story

Olayinka worked in the logistics industry in Nigeria for five years before starting to look for new opportunities. With limited options available, she decided to use her business background and contacts in the industry to strike out on her own.

As a woman in a male-dominated sector, Olayinka joined the Mentoring Women in Business programme in November 2014 looking for encouragement from women with similar experiences, and support to write a business plan, improve her accounting practices and launch her new business. She was matched with Olga, a Corporate Citizenship Associate Manager at Accenture in Spain. Olga’s expertise in strategy and financial management made her a great match for Olayinka.

Relationship focus

At the start of their mentoring relationship, the pair focused on Olayinka’s business plan. Olga helped Olayinka to break it down through a step-by-step process, identifying her target audience, developing her offering, devising a revenue model and creating a name for the business: Red Anchor Logistics. Olayinka and Olga then focused on Olayinka’s accounting practices, as she felt this was where she needed the most support. Olga shared examples of financial templates and they worked together to set up a simple account book to help Olayinka track her income and expenditure.

The next step was to develop Olayinka’s website. Using a number of resources provided by Olga and the Mentoring Programme’s e-library, Olayinka built her digital skills and learned how to create and manage a website. Olayinka now plans to expand her presence on social media in order to connect with more potential clients.

Olayinka’s reflections

In mid-2015, Olayinka proudly launched Red Anchor Logistics to provide freight, customs clearance and transportation services for oil, gas and power companies. Her business successfully earned over $200,000 in its first year, and, in addition to the two clients she brought on board from her existing networks, she has gained six new clients.

Olayinka said that having a mentor pushed her to achieve her goals much faster than if she had been working alone. She said, ‘It helps to have someone neutral to bounce ideas off. Olga has been a pillar of support, encouraging and helping me to focus on my goals and giving advice on how to complete my business plan.’

Olga’s reflections

Olga reported that she also benefitted from the mentoring experience. She developed her communication and listening skills and said that the most valuable outcome was realising that her skills and knowledge could make a positive impact on another person’s business.

Ambitious and determined, Olayinka is keen to continue growing her business. She hopes to expand her services by offering warehouse storage facilities and diversifying her client base. She also dreams of becoming a mentor herself and sharing the knowledge and encouragement she has received to inspire another woman entrepreneur.

To find out more about Olayinka’s business, please visit: www.redanchorltd.com