Peter Molokwu on The Art of Monetizing What You Love
Peter is currently the Lead digital & PR strategist at Ligera Digital Agency, a strategic brand communications and 360 agency specializing in integrated marketing and communications solutions for brands
Can you begin by telling our audience a little about yourself, your business, and what led you to pursue your particular passion as a profession?
I am the Co-founder and Lead strategist at Ligera Digital agency – a strategic brand communications and 360 agency specializing in integrated marketing and communications solutions for brands- Initially, I've always known I'd one way or another end up in communications & PR, I dived into the PR industry as I realized I could make a prodigious impact in that field. My vision for founding Ligera Digital agency stemmed from my enthusiasm for providing result-based services to businesses/brands, organizations, individuals, etc. in the areas of communications management, brand awareness/publicity, event management, and public relations.
I'm curious to know, what was the defining moment that made you realize that this passion could actually become a business? How did you identify the unique value it could bring to others?
I've always been interested in how brands are able to communication with their target audience effectively and Public Relations wasn't regarded in Africa because business owners just think its a waste of resources.
I realized the unique value it could be bring to others when social media became a huge thing and everyone was conscious of how their image looks to the public, brands became very conscious of what the public is saying and how they're being perceived.
Every entrepreneur faces obstacles, especially when turning a passion into a business. Can you share some of the initial challenges you encountered and how you overcame them?
Building anything in Nigeria is extremely difficult. I dealt with many challenges and currently deal with some general business ones such as lack of infrastructure for business to thrive, lack of media platforms for content which anyone in the PR profession would also find frustrating.
There are days I feel exhausted, there are days I feel like quitting but I choose consistency over everything, and that really keeps me going. On a bad day, I remember that I only need to get through the day and do the work that’s required and the next day is likely to be a better one.
Other times, I try my best to take a break if I’m feeling completely burnt out, it’s a good way to refresh your mind and get you back in the swing of things.
Monetizing a passion requires a solid business model. Can you walk us through how you developed yours, and the key factors that make it successful?
We are a client serviced agency which technically means both the client and the agency have an equal role to play here in the development of a successful client-agency relationship.
Some key factors that make it successful includes; Learning the client’s business, setting clear KPI's, having an honest communication with all clients.
Many people worry that monetizing their passion may take the joy out of it. How have you managed to balance the business aspects with staying true to what you love?
The first step to finding my balance is to know why I'm doing this in the first place. Why did I start this business in the first place? What is my vision, mission, and purpose? What are my core values and beliefs? Knowing why always helps me stay focused, motivated, and aligned with my passion.
As your business grew, what strategies did you employ to scale it while maintaining the core values and essence of what made it special in the first place?
The most vital strategy I put in place is invest in marketing - One of the biggest benefits of marketing is that you are able to build awareness of your company, your brand, and your offerings. It provides companies with a way to get the word out to potential clients and customers. Let’s face it, if you can’t bring in the customers, you won’t be able to make money.
At the same time, marketing helps to build your reputation as a company. It helps to provide you with credibility, which is important as customers and clients look for someone to do business with.
Your journey is truly inspiring. What key insights or pieces of advice would you offer to someone looking to turn their passion into profit?
You can do it, be prepared. Focus, work hard, stay determined, and keep pushing. Success is a journey, take a breather to celebrate the little moments but don’t get distracted. You will feel lonely sometimes or even depressed but you have to snap out of those moments and remember why you started and where you want to get to. Start now, start small and scale. Sustainability is a key factor, don’t ignore it.
Reflecting on your journey so far, what are you most proud of? What future developments or projects are you excited about in your business?
I'm most proud of leading some of the biggest events and brands in Nigeria from Africa Creative Market, worked on projects such as Lagos Leather Fair, Design week Lagos, Lagos Continental, AKO Show, The UX Christmas party, Koretbet influencer's campaign and so much more.
I'm most excited about securing for client & projects and basically expanding to the rest of Africa and internationally.