Business experts have urged aspiring and existing entrepreneurs to invest in sustainable businesses that can attract investment and scale regionally and globally. The experts spoke at the ‘Business of the Business’ fair, organized by DIYLaw Technologies limited which hosted entrepreneurs from different spheres of society in Ikeja, Lagos.
Executive secretary, Lagos State Employment Trust Fund (LSETF), Akin Oyebode, said entrepreneurship was about being deliberate in identifying a problem and creating a solution-based product. Oyebode noted that the ability of the business to be able to solve a problem would make it substantive and attractive for investors.
The LSETF boss who lamented the emergence of ‘accidental entrepreneurs’ due to unavailability of intended white collar jobs said entrepreneurship was about being deliberate in decision making, taking risks and profit.
Also speaking chairman, First Bank Nigeria limited, Mrs. Ibukun Awosika urged entrepreneurs to consistently evaluate the performance of their businesses and identify areas where they are lagging to implement new strategies for improved output.
Awosika stated that Nigerian entrepreneurs must be aware of opportunities around them and be timely in harnessing them for growth in their business environment. She charged the entrepreneurs to be strategically minded and understand that some hard decisions must be taken, to advance their businesses.
According to her, “Those who approach their jobs with the mindset of an entrepreneur will be outstanding in their fields of endeavour.” Also, the chairman, Aluko & Oyebode, Gbenga Oyebode tasked MSMEs to dimension opportunities and identify gaps in the nation that need to be addressed.
He called on young professionals to place a high value on quality service and develop their core skills, which will give them a competitive advantage in the business environment.
Co-founder and CEO of DIYLaw Odunoluwa Longe said, “The Business of Business fair will help entrepreneurs to build their business processes in a sustainable manner.”