873 Views

The Inspiring Success Story of Moin-moin Maker

Ayodeji Mebope runs a catering outfit (called) No Left Over Nigeria plc which she started with an initial capital of N1,000 by selling moin-moin (bean cake).

She was trained as a confidential secretary, and worked in Corona Primary School for about nine years and on her resignation from Corona, she had the intention of starting a playgroup and not a catering outfit. To actualize this, she enrolled in a six-month Montessori programme. But at the end of the period, she lost interest in pursuing the ambition.

To get herself busy, she started cooking for her sister-in-law, who was an extremely busy career woman. One day, her sister-in-law visited her house and joined Ayodeji and her family as they were having moin-moin, as a meal. She enjoyed it so much that she insisted that moin-moin must be included in her menu in which Ayodeji charged N1,000 for. And from there, family members, friends and colleagues began to place orders.

Business realization and future plans

In three months of selling to a few family and friends, her turnover was running into N30, 000 – N40, 000 and she decided to take the business more seriously and at that point realised that the best way to achieve success in business is to have a high turnover. The first question that came to her mind was where can she go to make her product available in the wider market? She went to the school she previously worked to hawk moin-moin for sale and that opened her up to larger market.

The Goldman Sachs experience and the impact of the Certificate in Entrepreneurial Management (CEM) program in her overall success.

Even with the income from the sales of moin moin at Corona, she could not really account for the sales, expenses and profit. She had no proper financial account and believed she needed to build her capacity. Coincidentally, she came across an advert on the newspaper saying that a United organisation was coming into Nigeria to invest in women entrepreneurs with little or no business That was the Goldman Sachs 10,000 women program in collaboration with the Enterprise Development Centre of the Pan-African University. An essay was required from interested applicants about their businesses and growth potentials Ayodeji participated in the essay and was shortlisted and awarded a scholarship. She simply wrote what she was doing – selling and hawking moin-moin in front of a school.

She was like a bird ready to fly – she became unstoppable. She was determined to run the business truly like a business. She opened a bank account for the company and started setting up business structures. The company had moved from one single product company (Moin-Moin) to a full catering outfit, where catering for 1,000 people was no longer a big deal but she jealously guarded the humble SEED – Moin-Moin, which has now become Moin-Moin Department in her new outlet. The contribution from this department in one week was enough to pay all the staff monthly salary. In less than one year of being a Goldman Sachs scholar, she had saved enough money to buy her own delivery vehicle, giving her more control on service delivery. She moved her business from her “Home” to “Office” thus enabling her to take on multiple jobs.

ALSO READ  Arsenal Legend Thiery Henry Becomes Guinness Campaign Ambassador For Nigeria After Preparing The legendary Jollof Rice

Business transformation and expansion plan

She had staffing issues at the initial stage of growth but she later sorted it out. She set up a proper staff structure and started to delegate duties. But as she grew, she found out that as long as the business is tied around the owner, the business cannot grow. Trust, delegation and empowering people are required in growing and meeting targets. She started handling multiple chores at the same time and so the business exploded with higher capital.

‘A humble beginning of N1,000 to a turnover of 50 million naira a year within a short period’. What is the message for young female entrepreneurs out there thinking of starting their own businesses?

The most important message she has is never to be afraid to start small and never to be afraid to start with any amount. Well, she admitted that the journey was not smooth all the way. The zeal to acquire so much set in at a point and this really set her back at a time. She will like to encourage the young entrepreneurs to have a good business plan because it helps with proper planning and projection. Also, she advised that the financial records must be properly kept.  In her words “That would help the business to know when to make the next move, when to expand and how to expand”.

Abstract

The Moin-moin maker has been invited to New York to address the Annual General Meeting of Goldman Sachs with satellite links to other viewing centres of the bank around the world. Addressing the worlds’ most powerful investment bank. She was also invited by President Bill Clinton to his annual Clinton Global Initiative.Ayodeji  Megbope was on a panel at the Turkish Prime Minister’s Global Summit on Entrepreneurship through the invitation of the Turkish Government in Istanbul, Turkey  and the panel featured other entrepreneurs from different parts of the world. To crown it up, she delivers motivational speeches on her success story at events across the nation.

Get the best viral stories straight into your inbox!

Don't worry, we don't spam

Leave a Comment

Your email address will not be published.

Latest Posts

This is How A Nigerian Governor, Nyesom Wike Celebrated Real Madrid’s Champions League Victory
Politics
38 views
Politics
38 views

This is How A Nigerian Governor, Nyesom Wike Celebrated Real Madrid’s Champions League Victory

MT - May 27, 2018

The Rivers State Governor, Chief Barr Nyesom Wike joined other fans of Real Madrid FC to celebrate the dramatic victory of the team over Liverpool FC Saturday…

“I Am Getting Married Soon” – Don Jazzy tells Bank W
Entertainment
46 views
Entertainment
46 views

“I Am Getting Married Soon” – Don Jazzy tells Bank W

MT - May 27, 2018

Nigerian music mogul and producer,Donjazzy may have let it slip that his wedding will be sooner than we think.Donjazzy has been joking about his quest for a…

SEE Why Angry Pastor Orders Church Members To Leave Wedding Reception
Romance and Love
66 views
Romance and Love
66 views

SEE Why Angry Pastor Orders Church Members To Leave Wedding Reception

MT - May 27, 2018

An unusual incident was witnessed at a wedding yesterday in Delta state after the pastor who conducted the wedding was disappointed by the couple. According to journalist…

See The PDP Governor Who Has Vowed Not To Criticize President Buhari
Politics
48 views
Politics
48 views

See The PDP Governor Who Has Vowed Not To Criticize President Buhari

MT - May 27, 2018

A Nigerian governor has vowed never to castigate President Muhammadu Buhari to prove he is still a member of the Peoples Democratic Party (PDP). Governor of Ebonyi…

Full Match Fixtures For 2018 Russia World Cup
Sports
55 views
Sports
55 views

Full Match Fixtures For 2018 Russia World Cup

MT - May 27, 2018

The long awaited FIFA 2018 World Cup will take place in Russia and will be hosted by the same country. The world’s largest football competition will begin…

Ekiti 2018: Why PDP Cannot Be Defeated — Jonathan
Politics
79 views
Politics
79 views

Ekiti 2018: Why PDP Cannot Be Defeated — Jonathan

MT - May 27, 2018

FORMER President, Goodluck Jonathan, has stated why the Peoples Democratic Party (PDP) cannot be defeated in the forthcoming governorship election in Ekiti State. Mr Jonathan, speaking at…

Argentinian Football Legend Reveals His Greatest Nigerian Player. Guess Who
Sports
59 views
Sports
59 views

Argentinian Football Legend Reveals His Greatest Nigerian Player. Guess Who

MT - May 27, 2018

Hernán Crespo, Argentine football legend, on Saturday said Austin ‘Jay Jay’ Okocha is the greatest Nigerian player. Crespo said he would never forget playing against Nigeria’s ex-internationals,…

How 24 Persons Cheated Death After Boats Capsized In Lagos
Inspiring
46 views
Inspiring
46 views

How 24 Persons Cheated Death After Boats Capsized In Lagos

MT - May 27, 2018

No fewer than 24 passengers escaped death by whiskers on Friday after to boats collided and capsized in Ojo area of Lagos State. The accident, which occurred…

Inside EFCC Report On Corruption Allegations Against Obasanjo
Best of Nigeria
57 views
Best of Nigeria
57 views

Inside EFCC Report On Corruption Allegations Against Obasanjo

MT - May 27, 2018

As President Muhammadu Buhari and a former president, Olusegun Obasanjo, continue to engage in a war of words, PREMIUM TIMES has obtained a report by the Economic…

“Why Adams Oshiomhole Is A Proven Liar”: Reno Omokri
Politics
49 views
Politics
49 views

“Why Adams Oshiomhole Is A Proven Liar”: Reno Omokri

MT - May 27, 2018

Adams Oshiomhole is a Proven Liar So Nigerians Should Not Be Surprised at His Most Recent Lie That Adams Oshiomhole is a confirmed liar has already been…

Simi Is Better Song Writer Than I Am — Adekunle Gold
Best of Nigeria
47 views
Best of Nigeria
47 views

Simi Is Better Song Writer Than I Am — Adekunle Gold

MT - May 27, 2018

Nigerian Singer, Adekunle Gold says colleague, Simi is better than him as a song writer. Adekunle Gold disclosed this to fans at his album listening on Friday.…

Meet Yekaterina Lisina, Tallest Professional Model With Longest Legs (Photos)
World Buzz
51 views
World Buzz
51 views

Meet Yekaterina Lisina, Tallest Professional Model With Longest Legs (Photos)

MT - May 27, 2018

Yekaterina Viktorovna (born October 15, 1987), is a Russian basketball player who competed for the Russian National Team at the 2008 Summer Olympics, winning the bronze medal.…

Aisha Abimbola: What Late Nollywood Actress Told Colleague, Afeez Owo Before Her Death
Entertainment
75 views
Entertainment
75 views

Aisha Abimbola: What Late Nollywood Actress Told Colleague, Afeez Owo Before Her Death

MT - May 26, 2018

Yoruba actor and filmmaker, Afeez Owo, has revealed the last conversation he had with the late Aisha Abimbola aka Omoge Campus. In an interview with GoldmyneTV, Owo…

Super Eagles Striker, Emenike & Ex-MBGN Fiance, Iheoma Nnadi Release Pre-wedding Photos
Romance and Love
71 views
Romance and Love
71 views

Super Eagles Striker, Emenike & Ex-MBGN Fiance, Iheoma Nnadi Release Pre-wedding Photos

MT - May 26, 2018

Super Eagles striker, Emmanuel Chinenye Emenike who plays as a striker for Las Palmas on loan from Olympiacos, and his fiance, a former Most Beautiful Girl in…

‘Assurance’; See How A Nigerian Doctor, Obinna Ebirim Empowered His People In Imo.
Best of Nigeria
77 views
Best of Nigeria
77 views

‘Assurance’; See How A Nigerian Doctor, Obinna Ebirim Empowered His People In Imo.

MT - May 26, 2018

A young Nigerian medical doctor and philanthropist, Dr. Obinna Ebirim, has continued to show that the welfare of the masses is his main priority following another grand…

HEALTH: Helpful Tips To Avoid Infections
Food and Health
62 views
Food and Health
62 views

HEALTH: Helpful Tips To Avoid Infections

PH - May 26, 2018

The rising threat of infections has become of great concern in recent years. While the risk related to "traditional infections" has often been reduced by vaccination and…

$16bn Power Projects: We Have Started Probe of Suspects – EFCC
Politics
74 views
Politics
74 views

$16bn Power Projects: We Have Started Probe of Suspects – EFCC

MT - May 26, 2018

Following representations made by some civil society groups, the Economic and Financial Crimes Commission (EFCC) has set machinery in motion to probe the controversy surrounding the $16…

Real Madrid vs Liverpool: Why Coutinho Will Receive Champions League Medal
Sports
77 views
Sports
77 views

Real Madrid vs Liverpool: Why Coutinho Will Receive Champions League Medal

MT - May 26, 2018

Liverpool will give Philippe Coutinho a winners medal should they beat Real Madrid in tomorrow’s Champions League final in Kiev, The Sun UK reports. Coutinho left Anfield…

Loading...