Maintaining creative edge main requirement for successful business – Entrepreneur

Osiremiza Oyofo, the visionary force behind Hair Envy (HQ) in this interview with TEMITOPE ADETUNJI, talks about her captivating journey from the UK to the bustling streets of Lagos with, how her experiences moulded her bold approach to business and pivotal lessons she’s learned in fusing creativity with practicality to stay ahead of competition

What motivated you to leave the UK to start your business, Hair Envy (HQ) in Lagos?

There were several factors at play. After graduation, I returned to Nigeria and got my first job at Oracle Software, and later at PricewaterhouseCoopers as a strategy consultant.

While at PwC, I started a small business on the side, more of a hobby, earning a bit of extra money in my leisure time. Nine months later, I decided to take a leap of faith and bet on myself.

I wanted a challenge and sought rapid growth and development. After considering various factors—age, experience, and risks, I concluded that the worst-case scenario would be to take six months off and then return to the corporate world if things didn’t pan out as planned.

I felt it was the right time to take that risk, as I had youth and significant work experience on my side, having worked full-time and as an intern at multinational corporations since I was 17.

I also had no major commitments no dependents or children so it seemed like the perfect opportunity to take that chance. From a young age, I always knew I’d end up doing something related to fashion, even though I wasn’t sure what form it would take at the time.

What did you study at university?

My first degree was in Economics and Business, and I went on to complete a second degree in International Public Policy at University College, London.

How did your education in the UK influence your decision to venture into the hair industry?

My education was not directly vocational in Nigeria or the UK. Instead, it was the quality of my teachers that really shaped me. I’ve been fortunate to attend schools where the teachers were exceptional. Whether in Nigeria or the UK, the mindset instilled in me was about dreaming big and pushing boundaries. In Nigeria, I was often told that the worst thing someone could say to me is “no”, so, I should aim high.

In the UK, I learned more about building corporate structures and operating within systems and regulations. The emphasis on meritocracy, where your background doesn’t matter and it’s about what you bring to the table, really shaped me.

This background made me see things in a more practical way, combining the ambitious thinking instilled in me in Nigeria with the structured, disciplined approach I learned in the UK.

What challenges did you face transitioning from being a graduate in the UK to becoming a business owner in Lagos?

The challenges were immense. As a UK graduate, you have the expectation that finding a job will be straightforward, but that’s not necessarily the case. You still need to prove yourself, and moving from student life, where your primary focus is studying, to running a business is a drastic shift.

One of the major challenges was dealing with the COVID-19 pandemic. Nine months after I started Hair Envy (HQ), the world shut down and this brought its own set of hurdles. Building the right team has been another significant challenge hiring, letting people go, and finding the right fit for the business.

Financing is also a big issue. The financing rules here can be tricky, and even though the hair industry is becoming more respected, there’s still a lack of seriousness around it. When applying for grants, we constantly have to justify ourselves, especially when we explain that hair health is a critical issue for black women and the long-standing diseases we face as a result.

Breaking into the market with the innovations we aim to introduce and addressing these health issues has been challenging. Many still perceive hair as merely a product rather than understanding the complexity and health implications involved.

Why did you choose Lagos as the location for your hair business instead of the UK?

I was already living in Lagos when I decided to start the business. Lagos is the hub of fashion and trends on the African continent, especially for Nigeria. Anything new in the fashion world often comes through Lagos first, so it made sense to base the business here, right in the centre of the action.

How did your time in the UK shape Hair Envy (HQ)’s entry into the Nigerian market?

My experience in the UK was invaluable. I started working at 17 and completed various internships in different industries. I worked at Freshfields Bruckhaus Deringer LLP, as well as in the legal department of the United Nations International Maritime Organisation, where I built the organisation’s Treaties Database. I also worked at an oil and gas downstream company.

These experiences gave me exposure to different business functions, from sales at Oracle to strategy consulting at PwC. By the time I ventured into my own business, I had already experienced the key elements of a typical business. The corporate training I received, particularly in the UK, provided a blueprint for how I approached the structure of my business.

I knew the importance of adhering to deadlines, registering the business name, and ensuring that all the legal paperwork was in order.

How do you manage costs to maintain high profit margin in Hair Envy (HQ)?

I run a lean operation, keeping my team small but efficient. I’m very particular about who I recruit; I look for people with curiosity and a desire to learn. Even though I’m their boss, I also mentor and develop them. It’s important for me to build individuals who can then take on responsibilities, growing with the business.

I hire based on the size of the project, rather than just hiring for the sake of it. This flexible approach helps me save costs.

Can you discuss any specific products or services within the hair industry that are particularly profitable?

Selling hair is extremely profitable, but people often misunderstand the purpose of wigs. Some think that wearing wigs is an attempt to look like foreigners, but this is a misconception. The earliest wigs were found in ancient Egypt and symbolised social status, much like they do today.

The hair industry offers a wide range of profitability, depending on your approach. If you’re a high-volume, low-margin supplier, your product quality may not be as high. If you’re focused on low volume but higher margins, you can offer better quality products. It’s about finding the right market and catering to their needs.

You were involved with the Tony Elumelu Foundation. How did that experience shape your entrepreneurial journey?

I’ve completed three major programmes. The first was the Founder Institute, the world’s largest pre-seed accelerator based in San Francisco, which shone a light on our potential as a technology startup—they specialise in taking you from an idea to a pitch level.

The Tony Elumelu Foundation programme took my business to the next stage, focusing on team management and growth.

I also did the Access Bank Wompreneur Programme, which provided a mini MBA from the World Bank. This was a deeper dive into operations and business processes. Each programme came at the right stage of my business and provided the necessary tools for its growth.

Could you share a specific challenge you faced while merging technology with beauty, particularly in the context of serving black women, and how you overcame it?

The challenge wasn’t so much in the building but in connecting and convincing customers of the value we were offering. Many black women have grown accustomed to certain treatments and products, and it took time to shift perceptions.

What we eventually realised is that Hair Envy (HQ) (HQ) is health-focused. The link between what we put on our scalps and the overall health of our bodies is our core focus, and it’s what sets us apart in the market.

This revelation in focus allowed us to better connect with our customers and emphasise the importance of healthy hair practices and products.

How do you balance the need for creativity and innovation with the practical aspects of running a business, especially in the competitive beauty industry?

It’s a delicate balance. For instance, I design all of our wigs by hand, and that’s where my creativity is most concentrated. However, running a business also requires practicality—managing costs, meeting deadlines, and ensuring that the business is financially sustainable. It’s about maintaining that creative edge while also staying grounded in the reality of what it takes to run a successful business. It’s also essential to have a team you can lean on when you’re struggling.

How do you stay ahead of trends in both the technology and beauty sectors, and what’s your process for identifying which trends to integrate into your offerings?

We stay ahead of trends by creating solutions to the problems we identify, rather than following trends. Our process involves extensive research and testing over a year before launching innovations.

Key innovations include introducing 100 per cent chemical-free RAW human hair in 2018, leading the ‘revamping’ industry in Nigeria in 2019, and launching steam-based hair tools in 2021.

Each of these innovations stemmed from identifying specific needs in the Afro-Caribbean hair market, with competitors following our lead after we had already tested and proven our products.