Stephen Fola-Badejo's unlikely leap from human physiology to logistics mastery is a testament to his insatiable curiosity and relentless problem-solving drive. A graduate armed with scalpels and textbooks, Stephen discovered a hidden passion in the intricate dance of cargo and delivery routes. It wasn't just the thrill of optimization that drew him in; it was the human stories woven into every shipment, the invisible infrastructure pulsating behind everyday routines.
For the past 9 years, Stephen hasn't just been grinding gears in the logistics space, he's been quietly forging new pathways. He shuns the "noise" of self-promotion, preferring the satisfaction of tangible impact. Finding him for this interview wasn't easy, but his dedication to building a better, more efficient supply chain spoke volumes.
This isn't just a conversation about boxes and trucks; it's a window into a mind that sees the world in interconnected systems, where every challenge is an opportunity to reshape the future of how things move.
Were you are 9-5er? Or did you just go on straight to entrepreneurship?
Well for me I wasn’t a 9-5er I started a business straight after I graduated. Being an entrepreneur and founder in the logistics space was divine for me. It was birthed at the place of prayer after graduating when I was at a crossroads, I decided to hand over everything to God for direction, and then my path was ordered to start a logistics company.
But I had experience with 9-5ers while I was an intern as a Human Physiologist and where I served during my NYSC, because I already knew I was going to end up in business I paid attention to business structures, processes, and all that
Who were your mentors or role models, and how did they guide you through the rollercoaster of building LogiTrak?
One of the human figures that have guided me for the past 10 years as a founder are my mentors, I leverage their mistakes, knowledge, and elderly advice. I do not make any major decisions without them in the know-how. Their experiences and bits of advice have also made me focus on what matters in this age of noise.
Was Logitrak your first innovation?
Well, not at all I've had so many and still have so many. As a second-time founder in the logistics space, my first innovation was The Removalist (a relocation company) which is still very much active. As I have said LogiTrak is not my first and will not be my last there are many innovations in the pipeline, but to shun distractions and narrow my focus I prefer to consolidate before diversifying because when you are very successful at one thing first, you can easily replicate the practical steps in other endeavors. Narrowing one's focus is key to greatness for anyone who wants to build anything great in life. One audacious step at a time.
Did you bootstrap your startup initially, or did you seek funding? What challenges or benefits did you face in either approach?
Well, we have been bootstrapping and it has taught us discipline as a company and also personally. There are no excess funds to play with anywhere. I believe if we are faithful with the little we have more will be committed to us, it is just a matter of time. For me, bootstrapping has helped me to build a strong financial character as a founder.
Well, I won't say it is easy bootstrapping a logistics and a tech startup because this industry is for the fierce not for the faint-hearted, but this is 9 years counting and we are still here. Grateful to God.
There is a saying that goes thus ‘Most startups die after 5 years’, but thank God this is 9 years and we are here learning, growing stronger not weaker and better. We are not where we want to be yet but definitely, we are not where we used to be. The curve has been funny, but we are paying attention to our foundation. For me, it is depth for heights or no heights at all.
Did you encounter shady investors or deal-breakers?
Oh Yes! And thank God I did not fall. That’s why one must have mentors, they are surely a guide to leverage and latch on. I will not say more than this. Eyes don see pepper.
How did you adapt your initial concept of LogiTrak to better address specific needs and infrastructural limitations within the Nigerian market?
Well, over the years we have leveraged data and stats to build better products and services for businesses. LogiTrak itself was founded after 5 years as a first-time founder in the logistics space, leveraging on failures on our part.
Founding LogiTrak in 2020 was a great answer to certain questions we asked ourselves as a team, and for the next 3 years, it has gone on to do good and achieved great milestones. We have leveraged customer feedback, and market analysis to launch our version 2.0, simplifying trucking solutions for businesses in Nigeria and Across Africa.
There are limitations here and there, but that’s why we live daily to overcome them with ideas and strategies. What doesn’t kill you makes you stronger. As an Entrepreneur, you do not only have ideas or see possibilities, you see threats and limitations too, it is up to you to build thick skins or chicken out.
What were the real-world challenges you faced in the Nigerian business landscape? How did you overcome them?
Regulatory challenges and all that, dealing with them you also have to be strong. Business is about war and it is being fought daily either with regulators or with competitors over market share or critics etc.
Another challenge is funding, as I said bootstrapping in logistics and tech space is not a joke. You know when you need to fund some contracts, especially for B2B or B2C and you are low on resources, and the banks are not smiling with their double-digit interest rates. You have to choose the best project practically and just let others go. I believe one thing that kills business mostly is when you are not even able to serve the customers that come your way efficiently with no hassles because word of mouth flies a lot and it won't be good for a customer to downgrade or speak badly about your services when you have not even started at all (started doing business in deep waters.)
Are you building LogiTrak for a quick payday or a lasting impact? What's your vision for the future of the company and its role in shaping the future of Nigerian logistics?
I remember in my early years as a founder I read the book ‘Built to Last’, which helped me with an idea of what I wanted to build and I also read another one by Robert Greene ‘MASTERY’, so from day 1 I have decided that I was going to build for the long haul, to have a lasting impact and change the world.
My vision is Africa, to simplify trucking and logistics solutions across Africa which will aid trade across different African countries. We want to build a one-stop technology that encapsulates the solution for businesses, truckers, and those in the supply chain across Africa. There is more that we want to do and all is in the pipeline, we are just releasing it version by version. It is a movement!
How did you cultivate the perseverance and adaptability needed to succeed as a startup founder in the Nigerian context?
Hmmmmmm! Stay focused, build relationships and networks, and never join them in abusing leaders publicly especially if you run a business here. Your business and you might be the next target and you will be frustrated. It takes wisdom to be wise, it is not every time you say how you feel on social media, it can come back to haunt you or your business in the highest places sooner or later as the internet does not forget.
We are still in the journey of growing there is still more success to be achieved.
As a successful founder, how do you manage the constant pressure and maintain a healthy work-life balance?
Please, I am not a successful founder yet, I am still on the journey so there is no sense of false arrival at all, as there are still more grounds to be covered and more work to be done.
In striking balance I cannot separate my religion from my profession, I am a born-again Christian. Well, I can't lie that the pressure is not there it is there ooo but for me, I read and study the bible to have sane mental health, I listen to music (gospel, jazz, classical, Beethoven), I take time out with my family and employees, I reflect by taking a long walk and driving long distance and I meditate. Well, I will say I have a zero social life, but I am still balancing with my family.
What do you want to be remembered for, beyond just building a successful business? How do you want LogiTrak to shape the future of Nigeria and Africa?
Well, the only thing I want to be remembered for is my life and work. They should speak for me. I should be among the wall of fame of Men That built Africa, that changed the logistics landscape.
You know in my I love reading and watching documentaries. There was a documentary I watched then about MEN THAT BUILT AMERICA… YES! That is all I just want to be remembered for.
What are the new features on your web platform 2.0?
For customers
They can register as businesses or individuals
They can request trips, book or schedule trips, get price estimates of their freight, negotiate freight prices, fund their customer account e-wallet accounts for payout, monitor their weekly, or monthly freight expenses, track their cargo in real-time, reverse logistics, have access to over 2,500 different types of vehicles (trucks, trailers, vans, Hiace, cranes, siennas, etc), goods in transit insurance, e-waybills, 24/7 customers support.
And many more.
For Truckers
They can register as businesses and individuals, manage their dashboards, accept trips or cancel trips, prompt payout, reverse logistics, increase market access, Fleet/Asset Insurance, Drivers HMO insurance, 24/7 support, cutting-edge technology to manage their fleets, and many more.
Can a customer carry out end-to-end transactions on your web platform without the need to call or send emails?
This is Relative but YES, If customers do the right thing and there is no downtime on the server, however, that is why we have the support and customer success team, to make them successful in all transactions.
Where do you see your startup in 5-10 years? What are your long-term goals and ambitions?
Well in the next 5 years, we should have scaled and expanded to 3 West African countries, and next 10 years expanding to a couple of African countries doing over 500 million dollars or more in revenue with a staff strength of about 5,000 or more.
To find out more about Logitrak Africa and its services visit https://logitrak.afri
Play audio
No comments