This 37 years old Nigerian, Paul Orajiaka Built $10 Million Toys Industry with ease , find out how

Paul Orajiaka, a 37 year-old Nigerian entrepreneur, is the founder of Auldon Limited, a manufacturer of African-themed toys.

Auldon manufactures dolls and other toys which depict, promote and teach Africa’s cultural heritage to children. Orajiaka founded the company 17 years ago with less than $100; it now has annual revenues of more than $10 million.

Apart from Nigeria, Auldon’s toys are now sought after in countries like South Africa, Ghana, Kenya, and some parts of Europe. Last year, Auldon launched the Unity Girl Dolls, a set of multi-cultural dolls clad in the traditional attires of Nigeria’s major ethnic groups. It has been a runaway success and a tremendous hit among Nigerian parents and their daughters.

I recently had a chat with him where he recounted his journey and spoke about his future plans.    

Why did you decide to venture into manufacturing African-themed toys?

I grew up in Warri in Southern Nigeria, and I did my secondary school education in Benin state. I recall that immediately after my secondary school education at Igbinedion Secondary School, Benin City, my sole ambition was to travel to the United States to seek the proverbial greener pastures. I never exactly planned to venture into the toy business. I was 18 at the time and determined to leave Nigeria at all costs. So, along with my friends, I made countless unfruitful trips to the American embassy in pursuit of an American visa. Eventually, all my friends were given visas, except me.

Naturally, I became dejected and ashamed. I had no clue as to what my next line of action was going to be. So I decided to stay back in Lagos and not return to my hometown where I would be mocked by my friends. You see, a lot of shame was attached to my disappointment at that time, being the only one out of all my friends who was denied an opportunity to go the U.S. So I decided that the only way out for me was to stay back in Lagos and work with my in-law in Idumota market and that is how that reluctant step taken out of frustration ended up becoming my glorious journey to success and fulfillment.

Idumota is a very saturated business hub and it’s not exactly the classiest place. Very few young men I know would like to start out in a place like that? How demanding was it building a business from Idumota?

I look back now and smile because it was indeed a difficult decision to make at that time. Idumota is largely congested and is a hustle-driven environment. It wasn’t fun at all. I felt like a fish thrown into a sea, filled with sharks and there I was trying hard not to be eaten up. All these factors emboldened me to strive in making a mark.  With this in mind, I had no choice but to get used to it.

Not long after settling in, the lid on my eyes were taken off after I came across young men who were doing extremely well in their different spheres of business.

Just before, I got too carried away I realized it was equally imperative, that I go back to school and get educated. So while I was working for my in-law, I enrolled as an accounting student at the University of Lagos (UNILAG), after which I proceeded to getting a Masters in Business Administration (MBA) from Lagos Business School, Pan-African University (PAN). Expectedly, after graduating from school, I became better equipped for the journey ahead, which saw me take the management and administration of my business to a greater scale.

Today, I can confidently beat my chest and say, a humble beginning which started about 17 years ago as a small venture, is now a leading company, importing and supplying top quality range of educational toys to wholesalers and retailers in Nigeria.  Going back, 1997, when we started, our capital base was just $30, but as at 2014, the company’s turnover has surged to over a $7 million. We have also metamorphosed into a Limited Liability company, status, which we attained in 2002 employing well over 400 people, inclusive of direct and indirect.

Source : mfonobong Nsehe