YCEOM Issue 9 by Young CEO Monthly

YOUNG

CEOMONTHLY 1

ISSUE 9 | FREE

The world’s first Nigerian tapas lounge taking the culinary world by storm INTERVIEW WITH

Emeka & Ifeyinwa Frederick of Chuku’s

EDITORIAL

editor@youngceomonthly.com Produced by: CEO Monthly Publications Design: GB Designs

ADVERTISING

ads@youngceomonthly.com

Foreword 3

elcome to the 9th Edition of Young CEO Monthly, the magazine that aims to bring young known and especially un-known business owners from the age of 16-30 to the attention of the public. What a few brilliant weeks of sunshine in the UK. Absolutely loving it and we hope you’re too. With weather like this there’s nothing better than spending a day out with your family / friends and enjoy some nice food in an awesome restaurant. And that is exactly what we would like you to do with this month’s edition. We would like you to visit and introduce to you this amazing brother and sister duo who are taking the world of food by storm with the world’s first Nigerian tapas lounge.

Young CEO Monthly is published by CEO Monthly Publications. Opinions and views expressed do not necessarily reflect CEOMP policy. CEOMP accepts no responsibilty for views expressed by contributors. Advertisements and reader offers are not endorsed by CEOMP.

We hope that their story will inspire you to go on an entrepreneurial journey and above all you’ll share it with your colleagues, friends and family.

George Boateng Editor

Quote

of the

Month

“How badly you want success, will determine how much you will do to get it”

To © All rights reserved. Reproduction in whole or part without written permission is strictly prohobited. Colour transperecies, manuscripts or disks submitted to the magazine are sent at owner’s risk; neither CEO Monthly Publications nor its agents accept any responsibility for loss or damage. Unsolicited material shoud be accomapnied by a stamped self-addressed enevelope.

be featured or have a question

Send an email to info@youngceomonthly.com for more info

Content Page 3 – Foreword Page 4 – Cover Story Page 8 – Business Advice of the Month Page 10 – CEO/Company Profile Page 13 – Reflection

4 Cover Story

CHUKU’S

The world’s first Nigerian tapas lounge taking the culinary world by storm

Emeka Frederick (26) | Ifeyinwa Frederick (24)

hat inspired you to start your business and when did you start it?

Emeka - We launched Chuku’s in August 2015, so we’re fast approaching our first birthday, which we’re both really excited about. Our idea – or more accurately, the idea to set up a food business to share Nigerian food with the UK is much older than that though. From a relatively young age, my sister and I noticed that Nigerian food lacked a strong presence on the UK food scene. But for us, this just didn’t make sense. Everyone we knew that had tried Nigerian cuisine had enjoyed it, yet it’s just not on the foodie map in the way that Indian and Chinese is or Caribbean and Mexican is becoming. It was about four years ago now, that we decided it was time to share the Nigerian foods we know and love with the rest of the UK (and eventually the rest of the world). But how exactly? This was a question we wrestled with for the next couple of years during our studies and time whilst we both lived abroad postuniversity. I went off to Madrid and fell in love with tapas, siestas and everything Spanish. Then a few years later Ifeyinwa went to live in the French Caribbean also gaining an appreciation

for a slower pace of life. From our experiences we realised that one big plate of a particular dish wasn’t necessarily the best way to introduce people to a new cuisine and London wasn’t as warm socially as other places around the world. So we thought why not offer guests smaller serving plates so they could indulge in a greater variety of foods, sharing them and their new experience together. And that’s really what tapas is. A selection of small plates, served in a truly sociable setting. So we

5 found ourselves preparing to launch the world’s first Nigerian tapas lounge.

What do you find to be the best thing about the industry your business is in?

Taking that final leap and starting the business came down to seizing the moment. Ifeyinwa returned to the UK in May and was due to head off again in September – this time to France. And this was the longest time in years that we were both in the same city. So we decided it was now, or never.

Ifeyinwa - I’m a people-person, so I love the client-facing aspects of my job. At our pop-ups I work as front-of-house manager and enjoy the opportunity it gives me to talk to our guests and build a rapport with them. I’m normally their first human interaction with the company so I really strive to make that first encounter a positive and memorable experience. And the conversations that normally follow are my favourite part of the job. Being front-of-house also allows me to gain direct feedback from guests, and I can tell you there is nothing better than hearing directly from a customer how much they have enjoyed and appreciated something you have created. It makes all the long hours worth it.

How did you come up with the name for your business? Ifeyinwa - The restaurant name comes from Emeka’s full name – Chukwuemeka (ch-kooé-meh-ka). This means “God has done well” in Igbo – our mother’s tribe. We named the lounge Chuku’s as we wanted guests to feel they were entering into a home, a place owned by a real person. It’s for this that homely elements such as books, cushions and family photos can be found at each of our pop-ups. We want them to feel that comfortable. People do ask why we didn’t choose my name, since I’m the better looking sister [she smiles whilst Emeka rolls his eyes] but it’s to all easy for people confuse my name with the word “iffy”, which probably would have been a bit off putting. What was your background before starting your business(s)? Ifeyinwa - Prior to starting Chuku’s I ran a mental health blog called Grey Matters and, as Emeka mentioned, I was moving from Francophone land to Francophone land working as an English teaching assistant and perfecting my French. Before that I graduated from Cambridge University where I studied Classics, though you were more likely to find me in a play or dance rehearsal than the library. Emeka – Me, I was working as a Strategy Consultant in the City. I was climbing the corporate ladder and, contrary to the typical entrepreneur story, I was actually enjoying my work. I was there for three years, following my time living in Madrid where I was quickly becoming a native. I went out to Spain after my studies at Nottingham University, where I graduated in Economics.

Emeka & Ifeyinwa in their very, very early days

“

We’d be lying if we said it was easy. You have to be disciplined and we don’t have that much free time.

”

Emeka - Similarly, for me, although I don’t always get to hear the stories directly, as typically I’m in the kitchen, as the head chef. What I do love though is that people are coming to Chuku’s and making new friends, finding new business partners and falling in love – we have a lot of date nights. In this world relationships are everything, so I love that we can be at the heart of creating and deepening those connections for our guests.

6 we’ve grabbed the food scene’s attention with features in the The Nudge, the Metro and The Evening Standard; and we’ve also become Guinness World Record holders, having been shortlisted and taken part in Virgin Media’s record-breaking Pitchathon for their VOOM start-up competition.

Guests enjoying their Nigerian Tapas What is your work ethic like? Emeka - We work a lot, frankly. It’s the nature of the beast. Between us we cover all areas: strategy, marketing, finance, operations. Ifeyinwa takes the leads on the marketing-side and I am responsible for all things food-related, but we both touch all areas of the business.

The ethnic restaurant market in the UK is expected to be worth £4.5billion this year. Africa is trending in business, it’s trending in music and we want to lead the trend in food. With our traction to-date, we don’t see why we can’t achieve this ambition and we’d expect an investor to buy into that. What would you consider your main achievement so far in your business and personal life? Emeka - Last year I completed an Olympicdistance triathlon. That’s one of my biggest

We’d be lying if we said it was easy. You have to be disciplined and we don’t have that much free time. Often weekends and evenings are just an extension of the working day. It’s about finding balance though. So, when we can we do make sure we find time to relax with friends and family. It’s just about picking the right moments. How did you fund your start-up? Emeka - To date it’s all self-financed through personal savings. As we look to scale, we’ll be looking at other finance sources. If an investor wanted to invest in your business what would they be investing in? Ifeyinwa - Our slogan is chop, chat, chill. Chop is Nigerian slang for eat and shows that Nigerian food is at the heart of what we do. Chat is for our sociable environment. Chill is for the way we transport our guests to land of discovery, so that relax in the moment. An investor would be investing in a West African restaurant that stands out from the crowd because of our personal family story, our unique serving style and our innovative recipes, for example, inspired by the traditional dish jollof rice we offer jollof quinoa – the first restaurant to do so. In under a year, we’ve sold out each one of our pop-ups, with queues outside our door;

personal achievements, as I signed up before I could swim or ride a bike, which in hindsight wasn’t the best idea. After 8 months of hard training though and almost dying in a lake, I smashed my target time with all my family watching. That was a proud day. This year has been mad. Just one big rollercoaster. I’m just thankful that I’ve had this opportunity and the guts to try and pursue my dream. Ifeyinwa – My main achievement comes from the theatre, one of my first loves. When I was at university, I noticed that mental illness was an issue affecting a number of my peers but something that wasn’t being widely spoken about. I decided to create a production that shine a light on mental health problems and spark a discussion. How? I wasn’t sure. But I began by interviewing fourteen individuals with mental health experiences. Over the nine months it took to put the show together, I brought together a team of thirty talented

7 people to help direct, write and star in the production. The final result was a three-room immersive theatre production which sold out every showing and moved one attendee to the point that they later contacted me to tell them it had been the impetus for them seeking professional help. Knowing that I impacted on one person’s life like that is something I keep close to my heart. When it comes to Chuku’s it has to be having Olympic athlete Christine Ohuruogu come to dine with us on the second week of residency. Since we launched, she’s been on the Hall of Fame celebrating British Nigerians, and so to

That’s just the plans for the UK. Emeka and I are known for thinking big and as we love travelling too we definitely have international ambitions. I know Emeka would to take the lounge to the tapas home of Spain; I’m always looking for any excuse to practise my French so France is on the cards too and just recently we had someone tell us that we should bring it “home” to Nigeria. Where first, who knows? But planning for an international presence is likely to happen over the next decade or so. What is your #1 advice to another young person thinking about starting their own business? Emeka - If you have the idea, then just start. Somehow, someway just do it. Whether it’s registering the company name, creating the logo or calling your first potential client, take that first step. You’ll never have all the answers and there’ll never be a right time so you might as well start today. Ifeyinwa – Your health is your wealth. Starting your own business is a physically and mentally demanding. Your health can either propel the business forward or cap its success. As young people, we often take our health for granted, so if you’ve never consciously taken care of your health, now is the time to start. Do not underestimate the pressure starting up will put your mind and body under. Make sure you eat, take regular exercise and take a break sometimes. I am the queen of naps! Next Chuku’s Tapas Lounge Dates & Locations:

Emeka & Ifeyinwa at VOOM have her chop, chat, chill with us in person and to hear how much she liked what we were doing was a genuine honour. Where do you see yourself and your business in 10 years’ time? Ifeyinwa - Within the next 2 years we want to have opened our first permanent space, and within 5 to be on our way to establishing a chain of mainstream Nigerian tapas lounges and becoming a UK household brand name. We’re aiming to put Nigerian food on the UK foodie map, up there with Chinese, Indian and, more recently, Mexican cuisines. The plan is that Fridays and weekends will be made for the “chop, chat, chill”.

Chuku’s Birthday Pop-Up The world’s first Nigerian tapas lounge is turning one and they’re holding a celebratory chop, chat, chill to mark the occasion. Celebrate with them and enjoy their good food and chilledout vibes. Date: Sunday 21st August 2016 Time: 13:00 - 20:00 Location: Palm 2, 152-156 Lower Clapton Road, E5 0QG Event Page: bit.ly/chukusturnsone ChukusLDN

ChukusLDN

ChukusLondon.co.uk

ChukusLDN

8 Business Advice of the Month

How to Make the Jump From Employee to Entrepreneur in 5 Steps by Geoff Woods| Host of The Mentee Podcast, Entrepreneur, Real Estate Investor

When you look at our society and the way you were raised, you were taught to get good grades in school so you could get into a good college. Once you got your acceptance letter you studied hard so you could get a good job. The day came where you put on your cap and gown, walked across the stage and began your life in the professional world with the hopes of climbing the corporate ladder fast. You work hard so one day you can save up enough money to retire. Fast-forward 20 years and you’re in your 40s working a job that doesn’t fulfill you and you ask: Is this all life is? Am I doomed to a life of mediocrity? Entrepreneur and consultant Justin Lafazan and I discussed this topic. Justin’s perspective is that people are starting to challenge the status quo and redefine what the path to success looks like. So how can you stop being a cog in someone else’s machine and venture out into the world of entrepreneurship? Here is how you can take control of your life and switch from employee to entrepreneur: 1. Recognize that you have a clean slate in front of you. If you’re still reading this, then you probably want to have the choice of leaving your current job for your own

business. Great! First, you first have to recognize that you have a clean slate in front of you. I have a lot of friends who began their careers as CPAs and do not feel that they spend their days living their true calling. Yet so many of them feel that if they were to start a business, they would have to leverage their CPA. Don’t let your past experience be a weight that holds you down from doing what you were born to do! 2. Identify what you were born to do. How do you figure this out? While there is no cookie-cutter approach, Justin recommended the following: • Identify your passions. What do you love to do? • Identify your skills. What are you really good at? • Identify your values. What really matters to you? • Find the intersection of those three. This exercise does not work like a gumball machine where you put a quarter in and out pops your life’s calling. What it will do is help you ask yourself the right questions every day, which over time will build your awareness and help you navigate your path. 3. Find the right mentors. At this point you have a choice. You can try to navigate this process on your own and waste a lot of time and money, or you can find people who have done this before and let them help you. 4. Turn your day job into a game. We all have 24 hours in a day, yet how is it that some people are able to get so much more done? It all boils down to efficiency. The faster and better you get something done, the more time you free

hat I have to say may upset you, or it may inspire you: We all have amazing dreams and aspirations, but many people will never achieve them because they were set up to live a mediocre life.

9 up to take on the next task. Now that you have set the intention of starting your own business you will need to free up some time. The best way to do this is to turn your day job into a game. With my sales job, I ask myself every day, “How can I earn twice as much income working half the time?” Questions such as this will change the way you view your job and get you excited about getting things done. This will help you multiply your time exponentially. Go ahead and come up with your own empowering questions and turn your job into a game! 5. Give yourself the choice to burn the ship once you’re got another boat. Many people preach burning the ships so you have no option other than to succeed. That has worked for some and compromised others. When you have to put a roof over your family’s head and food on the table, you may want to take

a more conservative approach. You’ve committed to performing at your day job at the highest level so you can free up time to build your business on the side. Once your business gets to a point where you have replaced your income you can choose to burn the ship, or not. Either way, you have the choice. While society has set you up to live a mediocre life, at the end of the day it’s your life and you are accountable for it. You have made the investment in yourself, now go take action and live an extraordinary life! Geoff Woods

Geoff Woods

www.findthebestmentors.com

10 Business / CEO Profile

Turning telecommunication from communication to wealth

arlos Slim Helú was born on January 28, 1940 in Mexico City, where he learned from early on the value of family as a priority in life. He also received his first business lessons in early childhood, as Don Julián gave each of his children a savings book with their usual weekly allowance in order for them to learn to manage their income and expenses. In 1965, when he was only 25 years old, he began to build the foundations of Grupo Carso. Inmobiliaria Carso was incorporated in January 1966, three months before marrying Soumaya Domit Gemayel, hence the name Carso, which is a combination of the first three letters of Carlos and the first two letters of Soumaya. Since the 1980s he has been a noted businessman in various industrial, real estate and commercial fields. In 1982, which was a critical time in the history of Mexico with the debt crisis, nationalization of the banking system and the country’s finances nearly paralyzed, Carlos Slim and his Grupo Carso decided to invest heavily and actively. They made diverse investments and acquisitions during this period, one of which was Cigatam, which turned out to be the first and most important because of its cash flow, providing the Group with sufficient liquidity to capitalize on available opportunities and thereby increase itsacquisitions of big companies, including: Hulera el Centenario, Bimex, Hoteles Calinda (today, OSTAR Grupo Hotelero) and Reynolds Aluminio. Some time later the purchase of Seguros de México was closed, and Grupo Financiero Inbursa was formed by integrating Casa de Bolsa Inversora Bursátil, Seguros de México and Fianzas La Guardiana. By 1985, Grupo Carso acquired control of Artes Gráficas Unidas, Fábricas de Papel Loreto y Peña Pobre, and also a majority stake in Sanborns and its affiliate Dennys. In 1986 Minera FRISCO and Empresas Nacobre were acquired, as well as their affiliates, and control of the Euzkadi tire company, the market leader at the time, was also acquired, as was a majority stake in General Tire some years later. In 1990, the group acquired TELMEX in partnership with SBC and France Telecom, and began a new era of entrepreneurial development in a globally strategic sector. Over the course of 22 years, TELMEX has developed a world-class technological platform that has optimized its processes and strengthened the corporate culture. Over this period of time TELMEX has invested the equivalent of US$27.692 billion in Mexico’s telecommunications infrastructure and, combined with operations in Latin America, more than US$33 thousand million. The Carlos Slim Foundation was incorporated in 1986 as Asociación Carso A.C., changed its name in February 2006 to Fundación Carso, A.C. In May 24, to Fundación Carlos Slim, with the mission to establish a range of non-lucrative projects in education, health, justice and personal and community development by contributing human and financial resources to equip Mexican society with the necessary tools to succeed professionally and socially. Fundación Carlos Slim, has an endowment of US$3.5 billion. With high-impact social programs, focusing on the most vulnerable population, in 2011, Carlos Slim Foundation has directly benefited more than 29.7 million people. Slim’s net worth today stands at £38 Million | $49.6 Billion | €44.8 Million. (Forbes)

Adapted from carlosslim.com

12 Classified

Your business could be here! Email us today via ads@youngceomonthly.com to advertise with us.

To advertise in our magazine email ads@youngceomonthly.com

Time To Reflect 13

Reggie Nelson x Kings Place by Victor Azubuike | victorazubuike.wordpress.com

ewham - Growing up with alcoholic parents isn’t necessarily the best way to start one’s life. “I thought situations were resolved with arguing because that’s what I saw my parents doing.” It came by no surprise that this eventually spewed into Reggie’s education. He describes secondary school with a bitter nostalgia – a time of bad influences, vandalism and tactical fights. “Tactical fights?” I ask – “We would pick fights with people we knew we were going to win.” Initially Reggie had made reference of growing up with two parents but in all his accounts of his Secondary School mishaps made mention of only his mother. His dad left when he was 11 – “You know what you see on the TV; the whole Father-Son relationship it wasn’t like that. He was my Dad, sort of, by like title.” Their relationship was strained – he would still continue to drink when he came back and this took a toll on Reggie’s perception of him. In many ways, Reggie lacked a positive male role model, “I didn’t really go to him for advice”. Quite a difficult situation to be in – the time when you require some sort of guidance to navigate one’s adolescence. Reggie describes a time that had come to define his life so far, the day his Father died. “The day before Fathers Day I invited him to church and he said that he would come. However, on the Sunday morning he said he didn’t feel well. At the time I didn’t think much of it – but looking back he looked really unwell and was gasping for breath. I knew he had diabetes so I didn’t think it was that deep. I went to visit him and for a couple of hours he was in a coma. After that they pronounced him dead.” There exists a brief silence in our conversation. Quite a lot to take in. I offer my condolences and Reggie accepts. Exclusions from school and an eventual arrest all seemed to act as indicators for a life descending on a downward spiral. On all the occasions that I had met Reggie, he always spoke highly of his mum. There was a clear respect. I was keen to find out whether the dynamics changed when she picked him up from the police station upon his arrest at 14. “She didn’t know what to say, she was shocked.” Growing up on a Council Estate there was always the thought that Reggie could get side-tracked. His mum tried to reduce his exposure to some of the vices on his doorstep. The gangs, knives and robberies which became a natural element to life in Plaistow during his Secondary school years. He goes on to describe that the arrest changed him. “I wanted more smiles from her, not the tears in her face when she saw me at the station.” I started to get the feeling that after this point, there was a change. A U-turn. Reggie keeps referring to his arrest as a pivotal moment in shaping him. A moment pinned to the wall of his brain. Football seemed to be his first attempt to have and provide a better life for his mother, sister, and himself. He tells me he was all over and had various stints with different clubs. “Barnet, West Ham, Stevenage, Peterborough – but I finally settled down at... To continue reading Reggie’s story visit Victor’s blog via victorazubuike.wordpress.com.