Welcome to this week’s edition of Time-out with Startups.
I caught up with Michael Rosanje, Co-Founder, Cashbudy, who told me why he left school to focus on entrepreneurship and also shared a number of insights into how the journey has been and what he is currently doing.
CFAmedia: Please, tell us about yourself?
Michael: My name is Michael Rosanje, Co-Founder of Cashbudy. I am an entrepreneur, a business developer and also, a lover of technology.
I obtained a Diploma Certificate in Conservation Science and Tourism, at the Obafemi Awolowo University, Ile-Ife.
I didn’t go beyond the certification, as the urge to become an entrepreneur was enormous and since I have been doing great in it, I decided to pursue it full time.
I enrolled myself for online courses in order to improve myself.
I built my first Startup in 2016, (Goodiesplanet). It is an online shopping platform that caters for over 3 million Nigerian students in Campuses.
Students have access to buy anything from food, clothes, phones, textbooks, etc. These will be delivered to their doorsteps.
Our charges are affordable, as we charge only ₦100 for on-campus delivery and maximum ₦500 for locations outside the campus.
We also help students with businesses, market their products and services on the platform. We help them to store and market their businesses, so that, they can focus on their studies.
Their accounts will be credited, after the sales of their products.
CFAmedia: Are you located on all the campuses in Nigeria?
Michael: We operate at Obafemi Awolowo University, (OAU), campus, Oduduwa University campus, Federal University of Technology, Akure, (FUTA), campus, Federal University of Agriculture, Abeokuta, (FUNAAB), for now.
Presently, we have offices, only at Obafemi Awolowo University, Ile-Ife and Ouduwa University, Ile-Ife and student representatives, on the other campuses mentioned above.
CFAmedia: So tell us about CASHBUDY?
Michael: Cashbudy is a web and mobile base platform, which enables Nigerians to substitute airtime for cash, in a simple, fast and easy way, via their phones.
We are also working on integrating it, so that people that use basic feature phones, such as Nokia 3310, can enjoy the services, via USSD codes.
CFAmedia: How much do you charge for each transaction?
Michael: It all depends on the network. On ₦2,000, we charge ₦200 if it is MTN airtime, Airtel, ₦300, Glo, ₦400 and 9mobile, we charge ₦400.
CFAmedia: Why is there a difference in the charges?
Michael: MTN has a wider coverage across the country and it is the cheapest, with the highest number of users in Nigeria.
People always demand more of MTN airtime, than other network’s airtime.
CFAmedia: That is awesome. So far so good. Please, tell us how the journey has been? Do you have any regrets about something you would have done earlier in your life and career?
Michael: The journey has been great and I have learned quite a lot, in terms of emotional and intellectual development.
As for regrets, I won’t say I have any because, this is the path I choose and I have been getting stronger and smarter, as the days go by.
CFAmedia: You are a very young man. What advice do you have for people out there, who want to become entrepreneurs, just like you?
Michael: (laughs) Well, I will always tell them to believe in themselves and try, not to go out of their way, to please people.
I always tell myself that, it is better I fail by myself and take full responsibility, than for me to give people the chance to make me fail.
This is because, at the end of the day, the people will start blaming me, which can be very discouraging.
They should also not be distracted by money. Money should not be the driving force of venturing into a business, or, Startup.
Be driven by passion and the need to solve problems.
CFAmedia: Thank you, so, much for your time, Michael.
Michael: It’s a pleasure.
Cashbudy was part of the selected startups for Pitch2win competition.