Today we have the CEO of Jaynnies Collections share her brand story with us!
TELL US ABOUT YOUR LINE OF BUSINESS. HOW DID THE IDEA OF YOUR BUSINESS COME ABOUT?
My name is Jane Orumen, CEO Jaynnies Collections. I import general goods from China ranging from fashion, souvenirs, kitchen utensils, etc.
I am also into the importation of original designers perfume oil from Dubai. And finally I am a business consultant and trainer of mini importation.
My entrepreneurship journey started three years ago when I decided to attend a training on mini importation, i was actually looking at starting a side business to support my salary.
Then, i discovered i had a passion for the importation business and so i dedicated more resources and time into it. Three years later, resigned from my job and launched my business full time.
WHAT HAVE BEEN SOME OF YOUR FAILURES AND WHAT HAVE YOU LEARNT FROM THEM?
Like they say: nothing good comes easy! failure is also a part of success.
The journey has not been without numerous challenges. I will try and highlight some for reference to starters because I didn’t have the privilege of knowing some of these challenges before launching into business.
1. Buying substandard goods: I was overwhelmed with the prices of goods at how cheap they were without considering their quality so when they arrived the quality were terrible and so it was difficult to convince customers to buy and even if they agree to buy, I had to sell below cost price thereby selling at loss. While I was able to sell some below cost price, I lost more being unable to sell some of them. I still Have some of the first goods i imported that I couldn’t sell with me.
2. Sizing: I had problem of sizing with Chinese clothes and shoes especially. Most of them arrived so small that, customers who did preorder rejected them at arrival and I had to refund them and bear the loss. The once I managed to sell took such a long time to sell thereby tied down my capital.
3.Shipping of Weighty Goods Via Air Cargo: This aspect almost made me quit the business before I discovered shipping by sea. When you ship goods like bags, shoes and other weighty goods via air, you will regret doing that. It makes selling difficult because the cost of shipping would have impacted on your selling price thereby putting your goods too high against your competitors.
Lessons learnt: I have learnt to gather all necessary information before venturing into any business and I have also learnt not to quit at the sight of failure. Just keep learning and keep going.
WHAT SACRIFICES HAVE YOU HAD TO MAKE AS AN ENTREPRENEUR?
I have made and continue to make lots of sacrifices
- I have sacrificed my time to keep learning to improve to stay relevant and stay competitve
- I have sacrificed monies made for other things to bolster my business
- I have learnt to be patient with my clients.