Dr. Sunday Olorunsheyi isn’t your typical businessman. This Canadian-based Nigerian entrepreneur seamlessly blends patriotism with shrewd business acumen. Over two decades, he’s defied expectations, leaving his mark on diverse sectors of the Nigerian economy. But Olorunsheyi is more than just a “serial entrepreneur” – a title he readily embraces. He’s a visionary leader, passionate about empowering others. Co-founder of Pertinence Group, CEO of Globarel Group, and board member of over 12 thriving businesses, his reach spans real estate, technology, finance, and beyond.
Driven by a desire to strengthen Nigeria-Canada relations, Dr. Olorunsheyi founded the Nigeria-Canada Trade Summit. In this exclusive interview with allnaijadiaspora, he delves into his remarkable journey – from a young boy with a dream to becoming a globally recognized business titan. We’ll explore his unwavering commitment to social impact and the secrets behind his relentless drive to succeed. Excerpts:
Could you share insights into your upbringing in Nigeria and how those formative experiences influenced your journey as an entrepreneur?
My leadership journey began during my teenage years, when I learned that leadership is about taking responsibility and influencing others, rather than simply holding a title. This sense of responsibility was instilled in me by my parents, who trained me from a young age. I served in various leadership roles in my church, the Foursquare Gospel Church, throughout my teenage years and university. The organisational structure within the church, with roles such as secretary, coordinator, treasurer, and public relations officer, mirrored that of business organisations. Serving in these leadership positions honed my entrepreneurial skills, making entrepreneurship feel like a natural progression of my past experiences. For me, entrepreneurship is not just about making money; it’s a form of service that I find enjoyable and fulfilling.
Tell us your relocation story and the steps you took to establish your business ventures there.
Growing up as an entrepreneur, immigration wasn’t initially part of my plans. However, I always saw myself as a global leader, dedicating myself to understanding global affairs through extensive reading and international travel to places like the US, UK, Dubai, Qatar, and Canada. Despite never considering relocation with my family, I eventually realised the importance of global access for conducting business, especially considering the challenges often associated with Nigeria’s green passports. Thus, six years ago, my family and I decided to move to Canada, to gain a second passport for enhanced entrepreneurial opportunities and easier international travel.
Regarding establishing businesses in Canada, I noticed a significant underrepresentation of Nigerians in governance, politics, and entrepreneurship within the Canadian Nigerian community. Understanding the adage that if you’re not at the table, you’re on the menu, I was motivated to change this narrative, driven by a desire to represent beyond mere financial gain. Surprisingly, I discovered that it is easier to start a business in Canada than securing employment, yet many Nigerians were not capitalising on this opportunity. Canada offers ample support to business owners, particularly those with a good personal credit score, as it significantly influences business credit and facilitates access to funding and licenses, provided compliance standards are met.
Despite living abroad, you maintain a strong presence in Nigeria’s business landscape. What drives you to continue investing in and expanding your ventures back home?
Undoubtedly, Nigeria holds a special place in my heart; it consistently takes the top spot for me. My love for Nigeria is unwavering, and I make no apologies for it. Beyond the desire for global access, Nigeria remains an exceptional country for entrepreneurs, brimming with countless opportunities. While Canada may have resolved many issues, Nigeria presents a landscape ripe with challenges, each accompanied by a myriad of solutions waiting to be implemented. As entrepreneurs, some of us remain steadfast in our commitment to return and nurture the ventures we’ve initiated, driven by a passion to contribute to Nigeria’s growth and development.
What specific strategies do you employ to ensure the success and longevity of your businesses operating in Nigeria?
Early on, we prioritised system management and implemented structures to facilitate expansion. During the initial five years, our focus was on cultivating a strong team and establishing a robust presence on the ground. We didn’t just groom individuals for succession; we fostered a culture of continuous succession. Every department was empowered to operate efficiently with minimal supervision from myself or my co-founder. Finance and other operational activities were not solely managed by us, even when we were fully present. We instilled a culture that thrived independently of our direct involvement, leveraging technology to maintain constant communication. Weekly meetings were a staple, regardless of our geographical locations. When we were physically present, we ensured our engagement was wholehearted and invested in the growth of the company.
What is your assessment of Nigerian entrepreneurship within the diaspora? What successes have you observed, and what obstacles do you believe need addressing to foster further growth?
First, the greatest obstacle lies within our minds; once we break free from self-imposed limitations, we unlock endless opportunities in the diaspora. Second, collaboration remains a challenge, but it’s one that’s gradually being overcome. Many Nigerians in the diaspora are excelling in entrepreneurship, and now it’s time to aim for even greater achievements. This next phase demands collaboration, enabling us to gain traction, access more opportunities, and negotiate better deals collectively.
For Nigerians abroad looking to initiate businesses abroad, what guidance would you offer them?
I’ll begin by emphasising the importance of gathering information; knowledge is indeed power. Without it, you risk being ill-prepared. Before diving into any business venture, it’s crucial to conduct thorough research. Consider the type of business you intend to start and its relevance to your location. In Canada, several sectors such as healthcare, construction, technology, and agriculture offer significant opportunities. Partnering with individuals already operating in your desired field can provide invaluable insights and support your journey.
How do you manage the complexities of remotely overseeing businesses in Nigeria?
Managing businesses remotely in Nigeria comes with numerous challenges, and if you were to ask me, the greatest challenge and blessing alike are people. The intricacies of remote management are compounded by the human factor; not everyone is inherently self-directed. While CCTV cameras offer some oversight, they don’t fully address this issue. Over time, we’ve cultivated a culture of trust between ourselves and our team, fostering an ownership mentality among our employees. This sense of ownership motivates them to go above and beyond for the business, fuelled by love and commitment. Without this ownership mindset, no amount of structure can compensate. Unlike in Canada, where payment is based on hourly work, Nigeria’s monthly salary system poses unique challenges. However, by nurturing trust and ownership, we’ve found our greatest strength.
While residing abroad, how do you stay attuned to the Nigerian market and remain abreast of industry trends and advancements?
What struck me the most upon moving to Canada was the depth of awareness among the Nigerian diaspora. They actively seek to stay informed about developments back home, fearing disconnection. Purposeful WhatsApp groups serve as hubs for sharing high-quality, current information. Belonging to such groups has been invaluable for me. Moreover, for Nigerians in the diaspora, little is truly new; many news and policies mirror those experienced abroad. For instance, policies regarding mortgage systems are often familiar territory. This prior exposure helps us stay well-informed and prepared to navigate changes with relative ease.
Many Nigerians are hesitant to invest or engage in business activities in Nigeria due to perceived challenges. What counsel would you offer to them?
It’s undeniable that the business climate in Nigeria is incredibly volatile, particularly concerning currency fluctuations, like the unpredictable nature of the naira. Planning becomes a daunting task when you’re uncertain about tomorrow’s economic landscape. I recall a meeting where we spent over two hours strategizing for the current market conditions, only to have our plans dashed by a sudden policy change affecting the Naira as soon as we stepped out. Operating a business like HostNowNow, which deals in dollars but sells in Naira, poses significant challenges, especially with cloud infrastructure costs. However, amidst these difficulties, Nigeria presents vast opportunities. For instance, the absence of price controls allows for flexible pricing strategies conducive to profitability. Additionally, our large population of over 200 million provides a considerable labour advantage compared to other countries. Despite the challenges, entrepreneurs should focus on these positives when navigating the Nigerian business landscape.
Reflecting on your entrepreneurial journey, what moments stand out as sources of pride and accomplishment?
I’ve had many memorable moments, but one holds a special place in my heart because I cherish celebrating humble beginnings just as much as major milestones. Allow me to share an example: When my business partner and I embarked on our real estate venture, fresh from a strategic retreat where we meticulously planned our enterprise, I encountered my sister on my way home. Bursting with excitement, I shared our new venture with her, and she generously contributed funds she had earned. Ecstatic, I returned home, eagerly anticipating our first day of business. The next morning, I joyfully informed my partner of our initial sale, but to our surprise, it was our only sale for the next three months. This reality check prompted us to reassess and refine our approach during another retreat. Through strategic adjustments and a revamped policy, we empowered our customers to engage with our offerings more effectively. Today, our business thrives, generating multi-million-dollar revenues annually. Yet, it’s the memories of those modest beginnings that evoke the deepest sense of gratitude within me.
From your perspective, which sectors or industries in Nigeria show the most promise for investment currently?
Nigeria is still an emerging market with vast opportunities across various sectors. Take the oil and gas industry, for instance. Unlike in other countries where fuel stations are automated, Nigeria still relies on manual service. Imagine the potential of introducing technology like fuel payment apps, streamlining the process for consumers. Similarly, in aviation and agriculture, there are pressing needs. For instance, the agricultural sector lacks adequate preservation methods, leading to waste and decreased profitability. Additionally, our export system remains underutilised. The takeaway is that opportunities abound for innovative thinkers in every corner.
How do you effectively manage your time and resources between your business ventures in the diaspora and those in Nigeria?
Interestingly, I’d even emphasise the importance of family in this equation, because ultimately, if you’re not successful on the Homefront, then you haven’t truly achieved anything. Balancing business and family life is crucial, and what I’ve learned is to make every moment spent together special and meaningful. We prioritise consistent communication; for instance, we have a dedicated WhatsApp group where my wife and children stay connected regardless of my location. Starting with family is paramount because while businesses can continue with the right structures in place, family requires emotional intelligence. Poor family management can affect every aspect of life. Therefore, planning is essential. I typically book my flights for the year in advance, allowing me to effectively manage my commitments. Despite the intensity, I find joy in what I do, making it more fulfilling than stressful.
Looking ahead, what do you envision for the future of Nigerian entrepreneurship among the diaspora community?
With the recent developments, I envision our collaboration leading to even greater strength. Have you noticed how Nigerians excel academically when studying abroad? The conducive environment significantly contributes to our success. With our strong work ethic and abundant opportunities, our unity will propel us to new heights. I foresee a future where Nigerians in the diaspora become owners of businesses announced by Fortune 500 companies.
Given your involvement in the Nigeria-Canada Trade Summit, what insights have you gained, and how do they align with the interests of the Nigerian community in Canada and the wider Nigeria-Canada relationship?
Thank you for the question. Our aim is to strengthen business ties between Nigeria and Canada. This initiative began in 2019 when I attended an event in Nigeria and noticed a significant disparity in trade volume between the two countries. Recognizing the need to bridge this gap, we launched the Nigeria-Canada Trade Summit. In 2020, Mayor Patrick Brown of Brampton, Canada, visited Nigeria and was impressed by our organization’s efforts. Following his return, Nigeria was unanimously voted as a foreign investment destination by Brampton’s city parliament, marking a historic milestone. Our goal is to attract investment to Nigeria and facilitate connections between Nigerians and promising opportunities. The upcoming Nigeria-Canada Trade Summit return leg in Canada, scheduled for October 17th-20th, is open to all Africans interested in attending. For more information, visit our Eventbrite page or contact SettleQuick.ca, a platform I co-founded with my team. SettleQuick serves as a comprehensive marketplace for Canada immigration services, offering verified consultants, job opportunities, housing, and automobile services, emphasising credibility and convenience.
What advice would you offer young Nigerians aspiring to build personal and social capital for global impact and relevance?
If you truly believe in yourself, you have the power to achieve. Age, location, or background are irrelevant in the pursuit of global relevance. Your determination transcends boundaries; wherever you are, if you can envision it, you can attain it.
