SKRT Magazine catches up with Mayowa Balogun on our Business & Hustle segment.
Mayowa Balogun talks his business, humble beginnings, influences, black ownership & more exclusive to www.skrtdaily.com
Tell us about yourself
My name is Mayowa, I’m about to be 28. What’s there to say? I’m a pretty normal guy. I love sports and music. I like to read, especially anything economic related or with historical context or value. I talk a lot, but I’m also quiet. I feel like I’ve lived for 3 lifetimes already.
Tell us about your business
I have my hand in multiple businesses, ranging from entertainment to real estate and everything in between. My company BEAM Group represents all those interests. With the way the year has gone due to the pandemic, we’ve focused most of our efforts and resources on real estate; particularly property development. We identified the sector as one that has a very bright future, especially in the regions we are active. It’s a new challenge for us but it’s very rewarding.
When did you start and how is it looking now ?
Man, I’ve always been business inclined. I officially registered my first business in 2014 but I’ve always been entrepreneurial. I’ve resold electronics, sneakers, jewelry and cars. I’ve been a tutor, I’ve done homework help services, dabbled in startups in different sectors, in 2011 at 17, I was close to being the first person to bring IMAX to Nigeria, the problem was that I didn’t actually have the money required to do the deal. I look at those emails now and laugh at how daring I was. It’s been a fun and interesting road to get to this point but as long as I remember, I’ve been rather opportunistic.
What influences the steps you take towards success ?
My mum is a huge influence. She’s one of the most successful people I know personally and the way she balances business success with success in marriage, community and family, all while being a great mum is actually mind blowing to me. I also try to read a lot to gain as much knowledge as I can. I get influenced by anything or anyone that makes things happen, period.
Where does your profit go/What does your profit do for you?
The first inclination is always to reinvest to be honest because you can always scale and do more but once a while I have to stop and smell the roses. I’m getting better at that. I don’t need much though, I just want to be comfortable, so any extra profit goes to making me more comfortable.
What are your long term goals in business ?
The long term goal is always to scale and to impact more and more people. For me, business is a means to an end. The goal is always to make people’s lives better and to help them chase their dreams. Especially being from Nigeria where the government has failed, I believe people like us need to step up to plug in the gaps left by the leaders. All my business and personal goals align in that sense.
Describe your social life
I describe myself as being “socially unsocial.” I’m just as comfortable being in the midst of people as I am in my own company. The pandemic has made me embrace my own company a lot more but if you catch me outside, I’m pretty fun to be around too.
How do you market your brand and business ?
A lot of social media, I’m very active. The hood thing for me though is that I do things I’m passionate about so branding is automatic for me, I’m always living and breathing my brand, people who have encountered me can quickly tell what I’m involved in so I think it works well.
What are the challenges you face generally ?
One way or the other it’s people. Dealing with people who have different values and morals is exceedingly difficult because you have to be open to the differences but you also cannot lose the core essence of your own values, so that’s one challenge. Another challenge I’ll say is managing stress. I usually work myself up to the point of no return and when I get stressed out it shows on my face and affects everything around me. I’m working on that.
How do you deal with obstacles you may face ?
I don’t have any major vices so for me sleep cures it all. A good night’s sleep plus a day off when I can stay in bed, get some ice cream and watch some comedy shows is usually enough for me.
Are you in a romantic relationship ?
Not yet but I probably should be looking, my mum needs grand babies and I’m probably getting older, *laughs*.
First Date Ideas?
I’m a boring guy, but I like going out to dinner, it’s one of my favorite things to do, I like to dress up. I’m also very interactive so I like to be able to talk to my date for hours and hours while we eat and drink. I also like to drive around randomly, if my date is okay with it of course.
What are your thoughts on black ownership and independence ?
Man, I’m all over this. I’m very very passionate about group economics. People argue with me all the time but I truly believe that the root of all Black oppression worldwide is economic. If Black people can be economically empowered at scale on a global level, I’m telling you, man, everything will change. You asked about my long term goals and I told you it’s to help as many people as I can chase their dreams. The underlying motivation for all of that is Black empowerment, ownership and independence.
Vacay country/countries of choice ?
Honestly, I want to visit every African country, starting from the ones that border Nigeria. So i’d probably just start with Benin and keep striking them out.
Posion of choice ?
Haha, I’ll refer to it as “juice.” If you know, you know.
Cardio. I enjoy running. The other stuff is hard I can’t lie.
How do you uplift your self spiritually and mentally?
I’d say reading. Also, mentoring. Motivating people to be better or to do better really helps me be better.
What impact do you plan to leave on society?
I just want everybody I encounter to be better for it. I want everyone to say after they met me they became better people, whatever that means to them.
Who is/are your mentor(s)?
My mum is one. There’s an older family friend as well, he motivates me a lot. I have a lot of friends and even family, like my brother and cousins who motivate me to be better, I consider them mentors in a senses as well.
Give a quote(s) you want to be remembered by?
“If it is to be, it’s up to me.”
Thanks for pulling up, Looking forward to seeing you at the next SKRTFest event.