When you see how you can add value to people’s live don’t let capital be a barrier yele gives us tips on how to start small. Yele Okeremi is the founder of Precise Financial Systems limited, a company involved in the development of software for use in the financial sector. Starting out with a capital of just N8,250 in 1994, Yemi insists that the company sits on the capital and it still sitting on it, Precise Financial Systems has grown into a multi-million dollar concern with clients in over 34 countries.
He is a Microsoft Certified Systems Engineer and holds a Bachelor of Science degree in Computer Science (With Economics) from the Obafemi Awolowo University and a Masters in Business Administration. He is an alumnus of the Wits Business School, Johannesburg South Africa and the prestigious Harvard Business School, Boston, Massachusetts, USA.
He has a passion for the development of intellectual capital for/of the black race and continues to advocate his position that irrespective of the conditions of the black man, the black man is by no means inferior in intelligence to anyone else in the world.
Yele left his consulting job at Inlaks Computers in 1989, and went ahead to his least favorite sector (the banking sector) as luck would have it, the management of Industrial Merchant Bank was looking to replace foreign software with in-house alternatives and as he grew into the role of CIO, Yele got first-hand exposure to “the secrets of software development”. According to Yele “that was when I realised that we could do better than all those guys that came with briefcases from Europe. That’s why we started what we are doing today”.
Soon after, Yele left his job to start Precise Financial Systems (PFS) with a unique approach of selling software that was developed in Nigeria by Nigerians. Now with a successful and still growing company yemi believes it is very beneficial for him to mentor and coach upcoming entrepreneurs especially in the IT field. He believes that working with the right team, not eating into your profit or capital, persistence and starting small is a great way for business startups.
He said “there is no shortcut to success, God is not going to do anything that will violate his principles. Young entrepreneurs need to understand that if you want to build an institution, you have to learn to start small. If you try to start big, the chances of small mistakes causing big calamities are very high. Learn to build capacity because if you don’t, you’re likely to blow the small opportunities that come your way. You need to pass through a season of grooming, stop focusing on money focus on creating value and serving humanity. Don’t get me wrong, money is important. But the more you focus on money, the less you focus on value. The other day, I was teaching my daughters about capital; The focus in economics tends to be only on financial capital. But today, particularly in technology business, it’s a triangle. There is also emotional capital which is your passion and most importantly, there is intellectual capital. You need to keep creating, keep innovating and keep moving up. One thing is certain, it’s only a matter of time before you strike “the one”. Usually when that happens, you no longer need to pursue further opportunities”.