Young Boss: Sylvester II Olusola Kay-Adade

What business do you do?

Pearl Creations manufactures and sells two products: Button-Badges (All-Me Buttons and National Buttons) and Magnetic Lapel Pins (Mag*Lapels), used for advertising, awareness campaigns, personal and corporate use, and as fashion accessories or souvenirs.

How did this begin?

With an idea. A good friend of mine, Sombiri and I had planned for Nigeria's 45th Independence Day Celebration, but unfortunately, we couldn't actualise it due to several setbacks. Sometime in late 2007, I remembered the buttons idea and since I was in Canada, I figured I could give it a shot. I had access to a lot of the resources we lacked then so I discussed starting up the business with my friend, but he had moved on into other things so I continued on my own. I researched button designing, the materials needed, the machinery, company registration etcetera and began operation in January 2008.

What's your educational background?

I attended ABC Nursery Land, Ilupeju, and then I transferred to St. Mary's Private School, Ajele; secondary school was at the Federal Government College, Ijanikin, Lagos. I attended Covenant University for a year, and then transferred to Houdegbe North American University, Republic of Benin, for two years. Finally, I transferred to Canada, through Southern Ontario College, Hamilton, Ontario to continue Medicine. I'm presently in my third year of Health Studies at McMaster University, Hamilton, Ontario.

Why did you choose business over a 9-to-5 job?

I never thought I had it in me but a couple of things factored this decision. I never liked the idea of working for someone. One of my philosophies is: "Why use your brain to get paid a fraction of what you're making for someone when you can use it to work and make money for you?" The drive to pursue entrepreneurship was instilled into me at the Covenant University through a compulsory course called Entrepreneurial Development Studies (E.D.S.). An older friend (also) encouraged me by saying, "with a job, you earn a certain amount every 30 days; with a career/owning a business, you make varying amounts almost daily". Personally, I like the challenge of pushing myself and being my boss.

Was starting up easy?

It's never easy and it wasn't for me either. I had to become very thrifty and save painfully, but the commitment has paid off.

What challenges did you encounter?

I made a number of mistakes and bad decisions, but in a nutshell, criticism, masked racism, near bankruptcy and self. I don't think one can ever rid oneself of criticism. I actually like constructive criticism, I got a lot of it and it helped me improve my business. I listen to what everyone tells me, but not necessarily act on it though. My father once told me, "people will always try to put their fingers in your business. Learn to know who's being helpful and who's not".

How did you source your start-up funds?

Simply saving for the rainy day. In my case, the rainy day eventually happened to be the start of Pearl Creations.

What are your achievements?

Being published in the Hamilton Spectator (one of the biggest and most widely read newspapers in Ontario); that gave me an edge and some credibility. As a result of that, I was registered as a supplier of Button-Badges for the Vancouver 2010 Winter Olympics; that gave me early leverage and I was made Partner Supplier of Flag Badges (the National Buttons) for the 2008 Olympic Games in Beijing with a standing contract. I recently became a certified member of the Vancouver 2010 Business Network. When I introduced the buttons in Nigeria in December 2008, I underestimated the reception. In January 2009, I was awarded a contract to supply the University of Lagos Engineering Faculty with Graduation Memorabilia/Souvenirs. The same month, practically became the unofficial Supplier of button-badges to Covenant University. The Nigerian youth are presently our second largest market.

Any low points?

I experienced some rejections; and was going to shutdown. I had a couple of brilliant ideas of new movie-themed buttons that were rejected by McDonald's, Warner Bros, Marvel and the likes over and over again. There was a big improvement with The Twilight Saga: New Moon movie. I'm hoping it was the start of a beautiful partnership.

What has been instrumental to the survival of your business?

Optimism, determination, my parents and sisters, my partners - Alice and Levi - and some very special friends.

What inspired you to do this?

I guess a quest for independence, to make a mark, to encourage others, and a thirst for the unknown.

A word of inspiration for others starting up?

Number one, have faith and trust in God. Keep your dream alive. Be optimistic. Believe in yourself and ability. Start small. Develop the entrepreneurial eyes and open them to the numerous possibilities around. Make sacrifices and use every chance and opportunity to showcase yourself; you might never get a next time. Be friendly, socialise and introduce yourself, you never know who you will be meeting. Use criticism as stepping blocks. See them as challenges to re-invent and improve yourself, image and business. The world is very competitive so make sure you always have the edge. Put your brain to work and keep coming up with new ideas and innovations. Never ever give up on yourself. Remember, winners never quit, and quitters never win.