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By Bianca Iboma-Emefu
Former chairman of First Bank of Nigeria, Mrs. Ibukun Awosika, has enjoined women entrepreneurs to modify their businesses to remain relevant in the present changing world.
Awosika gave the advice while delivering a keynote address at the 2023 edition of Women High Achievers Trybe (WHAT) conference held in Lagos recently.
She encouraged women entrepreneurs to apply SWOT model test in their business operations in order to redesign innovative strategy, which is a tool for business survival, especially in a world where there is so much competition.
She said: “Don’t get carried away by your strength and see your weaknesses as a disadvantage because this helps you to have a 360 degree view of all the issues; knowing your weaknesses helps you to discover what mitigants are and what you must do to counter those issues to avoid surprises. The opportunities are possible but you must know that every opportunity is not realizable.
“Beyond the opportunities, you must understand what the threats are. You must consider all of this and combine it with your personality, skills, talents, human capital resources and finances.”
Awosika added that there are three key stages in entrepreneurship and the ability of an entrepreneur to effectively deploy each stage will determine how successful they will become in the venture.
She listed the three stages of entrepreneurship as: the ideation process, planning stage and the execution stage.
“Female entrepreneurs need to be open-minded and to find the right human capital for every stage of their business.
“You must be determined to succeed. In theory, every business looks right, but in execution and real life, there might be a few surprises you need to contend with.This could help you to make amends at a low cost of losses in any way, if you were wrong,” she noted.
In her address, convener of the initiative, Mrs. Kiki Okewale, said a gender-based group has formed a community to inspire career growth among women, drawing in women from all walks of life who are eager to learn, grow and connect with other like-minded women.
“The conference was organized to build a community of women who would support, promote and patronise one another in life, themed “Elevating women entrepreneurs: Strategies for success.”
Okewale, a life coach and businesswoman, said she was in disagreement with the notion that women do not support each other in life or business.
She said: “From childhood, I have seen the strength of sisterhood and I have chosen to have a positive mental picture.
“I have encountered friends who gave me shelter in my times of need, cousins who opened their doors and countless other women who have lifted me up when life dealt its blows at me.”
Okewale stressed that the organization, WHAT, is not another random community but the brain behind it is for women to make money together, share opportunities, travel the world together and be a great example to every woman out there.
She expressed delight to every woman who have become a part of this beautiful community. “We need your uniqueness. Let us move forward with this purpose in our hearts, knowing that together, there is no limit to what we can achieve,” she said.
On her part, The CEO of WFM 91.7FM, Mrs Toun Sonaiya, charged women to make use of public space and market their business. She taught them how to do a 10 seconds media pitch to market their brand while delving into the media business of the day.
Sonaiya called for collaborations among women. She said with collaboration a lot of businesses will thrive.
“Women need to collaborate in their various capacities to improve their lives, career, business and families,” she said.
Also, the CEO, Folake Aya Akanni Essentials,
Folake Kehinde, charged women entrepreneurs to maximize social media. “They need to adopt various social media handles available to market their brands, services and equally sell their products.”
Kehinde added that even if it meant they have to dance to drive home their message. “Any unique style that can attract the sell is vital. They just need to discover the means to get the engagement that will attract sales,” she said.
The president, Professional Insurance Ladies Association, Mrs Margaret Moore, urged businesswomen to allocate certain amount of their resources to take care of their life, vehicle, burglary and fire, among others.
Moore said this was important for them to transfer their risk to a third party through the premium paid and indemnity that would be paid in case of any loss.
The event attracted about 500 participants.Speakers at the event included Eno Sam, Adeola Kingsley -James, Jennifer Aworigwe, Ivie Temitayo-Ibitoye, Bukolaajekodunmi,Dui Shujahi, Atinuke Babatunde.
The women shared their experiences, insights and advice on how to emerge and evolve into industry leaders, emphasising the importance of self-worth, self-care, self-awareness and self-development.
