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By Oluseye Ojo
The founder of a leading indigenous retail supermarket chain, Mrs Sola Sun-Basorun, has urged aspiring entrepreneurs to overcome fear, embrace challenges and start small rather than wait for perfect conditions.
She gave the advice at the launch of her book, “Courage to Start: The FoodCo Story”, in Ibadan, Oyo State, where she recounted how she transformed a modest business established in 1982 into a retail chain with 24 outlets across Oyo, Osun, Lagos and Ogun states.
The book contains 200 pages and 16 chapters, and documents the company’s origins, challenges and growth.
Sun-Basorun, who resigned from her position as a librarian at the University of Ibadan to pursue her entrepreneurial ambition, said inadequate capital should not discourage people with viable business ideas.
She described FoodCo’s growth as a testimony to faith, determination and perseverance, adding that the book was written to encourage young Nigerians facing unemployment and economic challenges.
Sun-Basorun said the book was a compilation of experiences shared by employees, associates, suppliers, customers and other stakeholders who contributed to FoodCo’s development.
She thanked her family and business associates for their support, noting that she had handed over the company’s management to her son, Ade Sun-Basorun, who has continued to drive its expansion.
The book reviewer, Tunde Aiku (SAN), examined the lessons captured in the publication, which chronicles FoodCo’s origins, challenges and growth, listing the business principles that have shaped the company’s development.
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The chairman of the occasion, Mr Segun Oloketuyi, said Sun-Basorun’s experience demonstrated that successful businesses did not necessarily require huge capital at inception but courage, quality and resilience.
Oloketuyi, a former Managing Director of Wema Bank and an independent non-executive director of FoodCo, recalled that the business started with three deep freezers, an egg refrigerator and a generator.
He disclosed that FoodCo once reduced its operations from five stores to one to survive an economic downturn, describing the decision as a lesson in resilience and sound business judgment.
He urged young entrepreneurs to learn from Sun-Basorun’s willingness to adapt to difficult circumstances rather than abandon their ambitions.
The publisher of the book, Dr Kolade Mosuro, Managing Director/CEO of The Booksellers Limited, described the book as a valuable resource for entrepreneurship and business development, noting that lessons from both successes and failures could inspire fresh ideas.
He also called for a stronger reading culture and stressed the importance of books in promoting knowledge, critical thinking and community development.
In his vote of thanks, Ade Sun-Basorun expressed appreciation to guests, family members, business associates and other stakeholders whose support contributed to FoodCo’s growth and the publication of the book. He acknowledged the importance of courage, faith and perseverance in overcoming business challenges.
