It’s not every day that you hear about a 17-old self-acclaimed millionaire in Nigeria, especially with the current economic conditions. However, this is the story of Prosperity Olorunfemi, a digital marketing consultant who has made profits selling his skills and tech devices and is inspiring other youngsters to build and manage wealth through Rumoney.
Rumoney is a financial education-based brand that provides financial services based on the principle of thriving for entrepreneurs.
Prosperity states, “Rumoney was founded in a bid to fulfil my commission of bringing financial prosperity to Africa by empowering the youths to be financially intelligent and capable.”
The now 18-year-old digital marketing consultant and CEO of ISellEarpods explained that his delve into tech and digital marketing was borne out of financial inadequacy and the need to step out of that situation quickly.
The desire to get a good smartphone was a motivation that inspired him to pursue tech skills.
So I had the opportunity to learn digital marketing, content writing and graphics with my mom’s phone. When I had learnt, I gained a couple of skills and was able to raise money, with which I got a semi-good phone. It was with that phone I Implemented all that I had learnt and made money, and then I got a good phone.Prosperity Olorunfemi, CEO and founder of Rumoney
In this episode of Tech Teen, Prosperity shares his inspiring journey with us, how he became a millionaire in 6 months, how he is managing his fame and building a lasting brand.
Read also: A conversation with Adeyinka Adetunji, a teenager who wants to build the world
How Prosperity Olorunfemi became a millionaire in 6 months
A post from Prosperity went viral on LinkedIn when he declared that he had become a millionaire within six months of starting the business. He stated that he initially got a loan of just N1000 from a friend.
“I had gotten into this Internet marketing space where everybody was graphic designers and affiliate marketers, and they were making money while I wasn’t, which frustrated me, and then I smashed my phone.
But then, realizing what I had done, I had to run around to repair it, but couldn’t because it wasn’t a common phone with replacement parts. So I had to get a new phone even though I knew it was costly, especially with just 1k on me and no bank account at that time.
However, I had learnt a skill earlier on importation and thought about how I could use the knowledge. Hence, I was thinking about a product I could import and sell that people needed but was not a common commodity among sellers. So I discovered that some gadgets were relatively cheaper in other countries than in Nigeria and could give me a profitable margin even with the importation cost.
So I set a target of 100k for that month because I had to get a new phone. I contacted my Uncle and gave him my business plan to do this. He reviewed it and saw that it was a feasible project with a little convincing, and then he gave me 100k. So with that, I got my first product and achieved my target, then paid back the money the following month.”
Prosperity claims he had already sold all the goods he ordered before they arrived based on the commitment to buy from his customers. All he did was run adverts and make designs with content. These, coupled with consistent advertising to his created social media groups, made him sell off the products before even getting them delivered. According to him, this made his uncle commit to giving him the loan.
Prosperity used both his skills and what he learned in the internet marketing and importation classes to find a trustworthy product provider.
The Brand since then
Prosperity Olorunfemi was able to identify a problem, turn it into an opportunity, and then capitalize on that potential to continue growing.
With time and the places I have gotten to, and the people I have met, I have grown into becoming this person who is more driven by other people. My business is now one that empowers students across universities. I get to teach them how to replicate the process I have been through and make money.
The Rumoney brand
Besides his business, ISellEarpods, his original business idea, Prosperity has expanded beyond just buying and selling. Now, Prosperity runs a brand that represents what he has become over time through growing in the business to representing brands that associate with him.
Everything I got financially, emanated from my digital marketing skills, and I have gone further to build my personal brand and people want to work with me. This makes me want to work in that space. So basically, I teach students in universities and bring financial literacy to people that are interested to learn digital marketing and create jobs for themselves.Prosperity
Watch the full interview here:
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