EXCLUSIVE: How Austin Manuel Made His First One Million 

It was Abraham Lincoln that wrote  “Great men are ordinary men with extraordinary determination,” With this quote, we begin the growth story of one of the most consistent businessmen from Africa’s biggest Motorcycle Spareparts Market, Nkwo Nnewi. In this interview, our reporter had an extensive encounter with this smart businessman that equals as the President, Nnewi Importers Association(NIA), He is none other than Austin Manuel.

The interview below

Tell us about you, let’s get to meet you

My name is Austin Chukwueloka Emmanuel Jideofor aka Austin Manuel, I am from Okpunoegbu in Umudim-Nnewi

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Tell us briefly about when you were born, growing up and your educational background

I was born in 1973, I schooled at Umudim central school now, Okongwu memorial, all other education is part-time, I did a project at Nnamdi Azikiwe University, where I did a program in Political Science

While in school were you also doing business?

Of course, I was

At What age did you start your business?

I finished secondary school at 16, I added five years to make it 21, and I started my own business after I was settled. I went to serve commonly known as “Igba Boy.” I started business at the age of 22, by 22 I was done with serving my master

Who did you serve?

I lived with some of my uncles, most of them late.

Did you go back to school immediately after you were settled?

No, I went when it was convenient for me, after 6 years in business, I started going to part-time lectures.

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Who is Austin Manuel, and why did people start to call you that, tell us about your brand?

I chose it, from my name; I combined both names to get my official company name. It is my official company name- Austin Manuel International Company Limited. There are other companies under that it gave birth to like, NULEC roof tiles, Iran Alpha Oil, Iran Yasa Tube, and Tire, etc.

Did you have a specific brand?

Yasa Tube and Tire, Roof tiles, Toiletries, Gutter works have different names under the Austin Manuel brand

Let us go a bit backward, after you were settled, how did you start? 

After I was settled, it was a challenge to start up with N20,000 in 1997 which is the amount I was settled with, I used 30% to rent a shop at a shop we were four, the people there gave me space. I had zeal, that if God will help me with this amount, so long as the money is adding I will make it. The percentage the money is adding was not my concern, my concern was that if there is a little drop on that money I am okay.

I was given 2 conditions then, will you take this money or will you take N500,000 fo us to do combine business. Because I am the first son, I wanted to try my luck with the little amount and also looking at the big amount. I told him that since I cannot give him one month extra to the five years agreed, let us settle let me start my own, I don’t want combined business. This is to say how determined I was to succeed, after this, I faced the battle. Number one determination to succeed, I decided to remove every pleasure of life from my life, then all I do is go to the shop finish my business and go home, no hanging out, no time for anything else. I did not know how much a bottle of coke is sold for, I never priced it, talk less of buying it and drinking it, let alone buy for somebody.

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From my previous shop we once shared, someone packed out to another shop, I rented half of the space, another one packed and I rented 3/4, then the third person left and I got the full shop.  Along the line, I had a challenge, I take stock of my goods every Monday to see what added to me that week, then one year, I had N950, 000 as my asset in goods and cash, the money refused to get to 1m. Every week, I check the stock and it is still where it is, I decided to fast and pray, I did not eat so the money can add even if it is N10, 000. Something happened, a customer that owed me N60, 000, I approached him to ask for the money and he denied ever owing me. He said he has paid me all my money and he is not owing me, I allowed the man, he bought goods from me and others, paid and when he left I met 60,000 on top of my drawer, I counted it and added it to the N950,000 I had and it was one million, ten thousand. When the man returned, I was expecting him to say he forgot some money with me, he didn’t, I still do not know whose money that is. I then worked towards building until I started asking for how much it will cost to import, this was 2003. I was mentored by my good friend Sunny Vespar.

The later part of this exclusive interview will be available in the Second edition of Anaedo Times Magazine.