JAKIN Initiative: “I'm a Social Entrepreneur!"
This content is provided by Enterprise Development Centre
JAKIN - currently registered as JAKINMINIS International Company Limited by Guarantee is a faith based Non Governmental Organization allowed to trade. It is an NGO governed not by trusteeship but by a board of seasoned directors.
The initiative was conceived on 12th October, 2003 by Mrs Adebiyi Olubukola nee Akinlosotu who was motivated by a passion to put smiles on faces with a duty to give all manner of resources to the needy and less privileged - in welfare, economic empowerment, health, education and training, further building their capacities and as well granting them listening ears - to ultimately get them lifted and established; thus the name "JAKIN" - a Hebrew word for "GOD ESTABLISHES!”
Bukola who has a Bachelor's Degree in Management and Accounting from OAU in 2002 has always been mercenary at an early stage, where she informs she built over N2m in gross earnings within 6months in sales and supplies from a company she initially established before venturing into her big dream (JAKIN). JAKIN itself was established with a loan of N45, 000 obtained from her dad.
She further credits her business enlightenment to the Certificate in Entrepreneurial Management Programme at the Enterprise for Development Service of Pan African University - Lagos, where she was a Goldman Sachs Scholar in the 10,000 Women Initiative - a global initiative sponsored by America's largest investment bank - Goldman Sachs.
Beyond an NGO
JAKIN runs a low margin trade in 5-categories - where they chiefly recoup their funds. The Net-Profit after deducted expenses is what goes into charity. They trade in the following categories:
- Book Marks
- Jumble Sales (selling used donated items such as clothes, furniture, electronics, etc.)
- Charity Shops (mini business centres)
The strategy with which JAKIN operates goes beyond a pitiable demand for charity; donors are approached with a mind set to adduce worth to their donations which is in the product being purchased. Further building a continuous network of active donors who stake their donations on a worthy cause is just then easy - from the little that trickles from individual donors eventually turns tangible for charity.
Posing a better Poise in the Global Economic Downturn
Beyond being seen as a magnified benevolence faction of a religious institution, JAKIN is also employing a bail-out strategy to stay afloat.
Like US President Barrack Obama's campaign funds trickled in bits, JAKIN also poses a public need to continually help and support the needy, the destitute, the less privileged, and many indigent lads and lasses. This instils in compassionate hearts - a psychological push to GIVE albeit in purchased products from JAKIN.
A re-branding and re-structuring process where Awareness and Product Improvement are emphasised through the Bronchure, Website Content, Fliers, Media Campaigns (TV, Radio and Print), Bulk SMS to partners, etc. are fronts which are also being actively harnessed to build a network of donors - which currently has about 1000 committed individuals.
Combining Family and Business
Bukola is newly married to Dr. Olubunmi Adebiyi (the Co-president of JAKIN and a member of the Board of Directors) - currently with Hygeia Foundation. She met her husband as a partner in JAKIN - where she discovered they shared and were committed to fulfilling the same vision.
As a female entrepreneur, Bukola says "you can never succeed in business without the consent of your family." She hereby gives a model to stay happy in business: GOD - FAMILY - BUSINESS. "If there's a problem at home, the business is affected, therefore always create time for your family to make them happy" - she says.
Advice to Intending Female Entrepreneurs
All you need is a vision, passion, commitment and zeal to get your dreams fulfilled not money!
Don't be afraid to make mistakes, take your decisions boldly and leap into action!
Be dynamic in your thinking as well as to changes in your business environment!
Be aware that every challenge you encounter as an entrepreneur is an opportunity to build on higher!