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Entrepreneur Of The Week: Kayode Ogunkoya of Instabyck

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On this week’s edition of Entrepreneur of The Week, there’s a new logistics company in town and Accelerate TV has all the exclusive details.

 

Company; INSTABYCK

 

Following our interview with Nigeria’s first ever private moto transit company MAX NG, we decided to delve deeper into the logistics sector 

A sector which the pandemic made integral due to the increase in digital purchases and hence the delivery of such purchases.

This interview revealed that there exists a space for many players within this sector

but only few will stand the test of time

and Instabyck is betting itself as one of said few for a myriad of reasons

 

Firstly, it’s hard miss that rich shade of purple blended with yellow, and the warmth it brings upon sighting such colours  


Read Next: How Certain Colours Affect People’s Moods


Secondly, the family run business is slowly taking over west Africa with the aim of worldwide domination.

(You heard it here first; 180 branches are set to pop up within the next three years).

 

Tell us the name of your company and what it does exactly? 

Instabyck is a trade name for our entry into ‘Last Mile Logistic Service’. 


A logistics service focused on small scaled online businesses.

It’s just one of the subsidiaries of the logistics company.

What inspired you to start Instabyck, and thereby enter this niche of business (transportation/logistics)?

The aim is to help online businesses fulfill the logistics of what they do. this was borne out of a personal experience from a seller who struggled greatly with delivering an item to me. We did some research (as a team)  and we understood that logistics was where we needed to be.

The pandemic, then forced the service to be properly fine tuned.

Although Instabyck was launched as an errand service, the model over time is to have an online market place where small businesses can reach their target market.

We are also fine tuning the digital service which would enable us identify online business partners who we can work with to promote their businesses.

Share a little about your entrepreneurial journey. And, do you come from an entrepreneurial background?

I actually grew up in a family that was STRONGLY academic yet I chose a different path.

My thirst for trading and owning enterprises drove me… I mean as far back  as university I was selling clothes,

Through NYSC, I was trading commodities and livestock then I got a job at the bank shortly after

Whilst going from field to field, I realized –

Every business is a vehicle taking you from Point A to Point B…

As an entrepreneur, you look at what the market wants and derive a solution.

So who inspired you to be the versatile entrepreneur you are today?

Dangote is in almost every business. Every N100 you spend, he gets N40 out of it based on him owning almost half of all the businesses you spend your money on.

Rice…cement…now petroleum

Dangote is a dynamic business man and some may think when you’re striving to be a dynamic business man and thus entering various fields, you may appear to lack focus

As a dynamic business man your focus is to provide a solution  to

Having entered many fields, whereby some businesses worked out and others did not,

I’ve now set up Instabyck, through which logistics is providing a solution to all these various job fields thereby enabling me use information gathered from being a versatile entrepreneur.

What gives you the most satisfaction being an entrepreneur?

That moment when you get a thank you from the customers for delivering a solution and at the same time you still get paid for the job done.

When you pay for electricity in a country like Nigeria where it’s not necessarily stable, you pay for the service but it’s not like your happy or enthusiastic about making the payments.

So, it makes me so satisfied, because, anyone willing to pay for our service is willing to use their sweat and hard earned cash to show gratitude to us.

What’s the biggest piece of advice you can give to others looking to start-up in Nigeria?

1. Think your business strategy through

Everybody says capital, capital, capital…Yes it’s crucial but thinking and developing goes a longer way.

When we started Instabyck, we tested the market and put it out there. This made it easier for people who really believed it to want to support.

2. Don’t rush to borrow money from a loan shark or through means that will cost you  greatly in the long run.

If you’ve thought the business through and leveled out all the kinks this won’t even be the case.

You really believe in the powers of the market and the invisible hand, are you an economist?

No, I’m a psychologist. It’s come in handy on those late nights when it all doesn’t seem worth it. In those moments when you need to see beyond the trials of the present and the roadblocks attempting to hinder you.

Why should anyone use your service as opposed to other competitors In the market?

We are an errand service which is also on the look out for like minded small-businesses which we can help promote and partner with.

 

We are working on tech that enhances the errand experience

for those who wish to have more information; there’d be someone giving you real time tracking info for your item.

What are your future plans and aspirations for Instabyck NG?

Look forward to Instabyck popping up in 180 countries around the world. We aim to be global.

You use we a lot, Who is We?

The company, the staff, my family, anyone who has a stake in pushing the growth of Instabyck- WE are a team.


 

Nigeria is a challenging playing field when it comes to encouragement for small businesses.

”The government has to create an enabling environment; find key players, support their strategy and stimulate growth”

Instabyck started out as a family-run business with a solid goal to change the face of logistics and digital SMEs

it has now expanded to various teams who are also trained with the core family mindset of customer service excellence and solution providing.

The business urges the government to do the same and change the norm for fellow entrepreneurs out there.


By: Joan K. Vincent-Otiono

 

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