Dr. Stephen Akintayo is the executive director of Stephen Akintayo Consulting International and GTEXT Holdings, a most prominent root conglomerate that has become one of the most reliable in the industry, with several branches worldwide. Akintayo, a famous author with more than 40 books to his credit, was the winner of the Best of Africa investment coach of Forbes in 2023. In this interview with Rotimi Ige, he spoke on his entrepreneurship trip, why real estate disputes They are civil cases, how the real estate sector in Nigeria and worldwide has been revolutionizing.
You talked about your youth days as a businessman and how difficult it was for you. Many Nigerian young people are trying to venture into different businesses; Some in real estate, others in digital content, etc. Can you take us through your experience as a young entrepreneur?
My story is very humiliating. We officially registered our company in 2008, but before that, I had read a book called Rich Dad, poor dad '. He made me realize that being rich was not just going to school and graduating, you must understand the difference. between assets and liabilities, investment concepts and business property.
When I entered the university, I was determined to try any business opportunity. I started my first business at age 18 and it was difficult. Most of my first companies were not successful; I sold corn popcorn, electron sold and tried several other things. After graduating, I sent my CV with a presentation letter that indicated that I would work for six months without paying to prove my value. No one gave me a job.
One day, someone who sent my CV to advise me: “You started business when you were young and you have some experience, why not continue instead of hunting work?” That gave a chord, and I decided to persist. I printed A4 posters, I hit them in the city and announced my services.
What were some of the biggest challenges he faced in those first days?
There were so many challenges, but one that stands out was financial instability. He had no capital and there was no support system. I remember one night when I had no money to eat, but I was determined to move on. I had to trust pure persistence and ingenuity.
Another challenge was to make people trust me as a young entrepreneur. Many potential clients doubted my ability due to my age. I had to work twice as hard to show myself.
When did things start to change for you?
The turning point came when I secured my first great contract. It was not easy, but my persistence was worth it. I also started learning more about brand, networks and marketing, which helped me expand.
What advice is for young entrepreneurs trying to navigate the business world today?
First, resilience is key. He will face many challenges, but consistency will distinguish him. Second, never stop learning. Read books, attend seminars and look for tutoring. Finally, be willing to adapt. The business world is constantly evolving, so flexibility is essential.
How did this experience shape this experience and drove for success?
He put me in an adrenaline that I have not yet recovered, even after things improved. I was just over 20 years old and I had no choice but to advance. My mother worked for the government for more than 30 years, but suffered at the hands of her own colleagues. She was an accountant of the National Electric Power Authority (NEPA) known for helping people. Even when we had nothing at home, his kindness brought small rewards sometimes only N20* of grateful customers, which became our dinner.
But when he needed more help, the system failed him. If she had been a man, maybe they would have taken her case more seriously.
Can you share the moment you realized that your mother's health was critical?
They told me that I had nine months pregnant, but that made no sense. Everyone began to cry and decided to take her to a private hospital. What government hospitals could not diagnose for almost a year, the private hospital identified in just four days and was ovarian cancer. They performed surgery, but cancer had already spread. The doctors told us to prepare for the worst.
Of course, I was angry. I told my mother: “The doctor is a demon. There is nothing that God cannot do. “But deep down, she knew she had pain. She finally died.
What was the most difficult part to lose it?
The understanding that money could have saved or at least have given us more time. The complete cost of the treatment was only N800,000. If I had that money, she could have lived longer. She died at a time when we were preparing for my older brother's wedding. She couldn't see any of that.
That experience changed me. It made me decide that anything legal that would earn money, would do it regardless of what someone thought. I learned in the difficult way that being poor in this country is like registering in suicide.
What advice would you give to the Nigerian young people who choose to build from nothing?
We are succeeding! The key is to surround yourself with the right people. A mistake that young people make when they start to succeed is to surround people 'yes, sir' to flatter them but they will not be there when things go wrong. I intentionally connected with older and wiser people who tell me the truth. They help me handle crisis and prevent unnecessary battles.
Another important thing is patience and humility. When you have success too early, arrogance can become your fall. People will cause you, but you must learn to keep calm. You will not catch me emotionally online reacting. You can write what you want from me, I will not answer. But if I defdue, I will sue you.
What are the key variables for business success?
Hard work. Work 12 to 16 hours a day, from 4 or 5 a. M. Sometimes, I do not sleep until 2 am, people speak of 'intelligent work', but there is no attentive to real success.
In addition, tutoring and honor to mentors: many young people think that mentors should only give them money, I think the opposite of you should honor your mentors, even if your mentor is richer than you, send them a small gift to show appreciation. One of my mentor's attendees told me: “You are one of the only two people in 40 who did not come just to ask for money.” If you only seek financial aid of mentors, why should they prioritize it? Look for wisdom first.
What role does knowledge and real estate play in your success?
One, the power of reading. Leaders are readers. Its reign in any industry depends on the quality of the information you have. A book changed my life, “Rico dad, poor dad.” That is why I have written about 40 books to transmit knowledge.
The second is the erroneous real estate concepts. Real estate cases are civil, not criminal. If you have problems, take them to court. Not everyone in real estate is rich. The industry has liquidity challenges. If someone lives extravagantly, they are likely to be using investor money.
The business must be executed with integrity. It is possible that customers do not understand the risks we take. We risk our lives for our customers. I travel personally to inspect land, even in dangerous areas.
People abroad complain about delays, but do not know the extent to which we go to safe properties. I have eliminated land rituals!
You have written more than 40 books. What motivates you to share knowledge?
A book changed my life, and I believe in paying it. When writing and sharing ideas, I assure me that those who wish to follow my path have access to correct knowledge.
Many people believe that attacking a company only affects the founder. Is this true?
You are welcome. If you attack a real estate company like G-Tex Homes, you are not hurting only me, it is affecting employees whose livelihoods depend on it. I have built my wealth at a level where even if this company closes, I will never be poor. My consulting income, training and books support me.
However, when a company collapses due to unjustified attacks, it is the staff that suffers. We have seen cases in which the founders move abroad and new companies begin, but it is the Nigerian employees who lose their work. That creates an even greater economic problem. If you have a genuine complaint, take legal measures instead of trying to destroy business.
Are real estate as profitable as people suppose?
Not quite. Many assume that there is unlimited money in real estate, but those who direct ethical businesses often fight financially. The industry faces liquidity challenges. If you see someone who lives extravagantly, they are likely to be using investor funds.
What is the correct way to handle the money from real estate investors?
Integrity is key. When people invest in your business, you trust you with your money earned so much effort. It is your responsibility to ensure that your funds are responsible in a responsible manner. A company must be structured so that if something goes wrong, investors can still recover their money.
The real assets must be on the ground if it has 1,000 plots, it should not sell 10,000. Clear awareness and ethical commercial practices must be the basis of any real estate company.
Many customers do not see the risks taken by real estate developers. Can you share some experiences?
Absolutely. Once I traveled by boat to Asaba just to personally inspect a property for a farm. Meanwhile, some investors enjoy their lives in Canada without realizing the sacrifices we make.
There have been cases in which the bought properties had ritualist objects placed on them, and I had to eliminate them personally. These are risks that real estate professionals take daily, but they are often not appreciated.
Q: Any final word for the real estate industry?
A: Real estate is about trust, commitment and problem solving. Developers must operate with integrity, and customers must recognize the challenges within the sector. Instead of disseminating erroneous information, it is important to address concerns through the right legal channels. Only then can we build a stronger and more sustainable industry.
Q: What final advice do you have for young entrepreneurs?
A: Stay focused, be patient and handle disputes in the right legally, not emotionally. Build your business with integrity and do not allow social networks to press it in unnecessary battles. Success is a trip, not a sprint.
Q: You love northern caps. I want to know … I will love you that you touched your fashion, because I also lived in the north, most of my life.
Dr. Akintayo Stephen: It connects me to my northern roots. That is easy. The Agbada and the North cape. I would expect you to use senator.
Interviewer: Maiduguri.
Mrs. Toms: He is an urban man from the north.
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Dr.Akintayo Stephen: I was born in the north. But I am not from the north, I am a man of Egba, from Abeokuta.
Mrs. Toms: You were born in the north.
Dr. Stephen Akintayo: I was born in Maiduguri, so I grew up in Maiduguri. You grew up in Maiduguri, but you're not from Maiduguri
Another lady: Where are you from?
Dr. Stephen Akintayo: I am a Yoruba man. Yoruba man.
Dr. Stephen Akintayo: And don't let him know this, my king has said that he should not see me on this limit, you know, so no one should show him. The last time I went to his palace, he had to tell my friends who came with me that they should buy a Yoruba cap. And in fact, my friends did. Those Yoruba caps bought me. I say that I must always use the Yoruba cap. But for me, the cap helped me connect back to my inheritance from the north. You know, the Agbada is neutral, right?, To all brands.