How Boniface Ogunti Managed to Start a 5 Million Dollar Company by 22

At the age of 20, Boniface Ogunti’s life seemed like a script destined for failure. An immigrant, he found himself residing in his girlfriend’s mom’s basement after abandoning college and quitting a corporate job he held for just three months. To the casual observer, the future looked grim. However, fast forward two years, and he emerged as a self-made millionaire, steering the ship of a flourishing eCommerce consultancy business called Current9. Making his initial $2.5 million at the age of 21, Ogunti continued to empower hundreds, amassing an estimated net worth of $36 million by the age of 23. His remarkable success baffles many, but Ogunti shares four key tips for anyone eyeing a similar trajectory, drawn from his humble beginnings.

1. Starting Early:

While most 20-year-olds are grappling with life decisions, Ogunti was already certain that the conventional 9-to-5 job wasn’t his path. Opting out of the rat race, he pursued his ambitions relentlessly. The lesson here is clear: aspiring entrepreneurs need to kickstart their journey as early as possible. Commencing early allows room for failure and experimentation. Living in his girlfriend’s basement provided the freedom to be himself without the weight of familial responsibilities, enabling him to learn and grow without unnecessary pressure.

2. Don’t Give Up – Learn from Mistakes:

Ogunti’s first venture, Crown Recording, a recording studio and clothing brand, failed after nine months despite pouring his savings into it. Rather than succumbing to despair, he embarked on a journey of self-reflection. Analyzing his failures, he questioned and dissected his ideas, determined to understand why they hadn’t resonated with his target audience. Ogunti’s resilience shone through as he absorbed lessons from each setback. This resilience and willingness to learn, he emphasizes, are essential traits for any aspiring entrepreneur.

3. Establish Your Skill Set and Cut Your Niche:

As a college dropout, Ogunti relied on skills honed through his diverse experiences. Despite initial failures in various business ventures, he discovered his core strength lay in consultancy, particularly in rapidly scaling businesses. Recognizing this strength allowed him to build Current9 successfully. To thrive in business, Ogunti advises individuals to undertake a journey of self-discovery. Identifying one’s strengths and weaknesses is crucial in finding a niche that aligns with personal abilities, providing a foundation for monetization.

4. Dare to Dream but Have a Plan:

Ogunti, seemingly a dreamer by layman’s standards, lived in modest conditions to focus on his ambitious plans. Choosing to reside in his girlfriend’s mom’s house in Minnesota, he strategically minimized living costs to channel resources into his aspirations. While his circumstances may not have been ideal, they provided the clarity needed to map out his path to success. Ogunti advocates for daring to dream big but stresses the importance of coupling dreams with a well-thought-out strategy.

In summary, Boniface Ogunti exemplifies that age is inconsequential in the pursuit of success. His story underscores the importance of embracing failure, learning from mistakes, recognizing personal strengths, and combining dreams with strategic planning. Ogunti’s journey is not one of instantaneous success, but a testament to unwavering determination and hard work.