50 Things I learnt from Business Sustainability Masterclass organized by Dr. Olumide Emmanuel

50 Things I learnt from Business Sustainability Masterclass organized by Dr. Olumide Emmanuel

Today, I will be sharing with you what I learnt from the just concluded Business Sustainability Masterclass.

The facilitators are:

1. Dr Olumide Emmanuel
2. Tara Fela-Durotoye – CEO of House of Tara (She used House of Tara as a case study)
3. Nnamdi Ezeigbe – CEO of Slot

The Masterclass is a paid event and worth all the investment.

1. The reality of today’s marketplace is V.U.C.A – Volatile, Uncertain, Complex and ambiguous
2. You need collaboration, coordination, contextual thinking, and divinity leverage skills to navigate the marketplace etc.
3. Crisis creates opportunities; you will need vision, understanding, clarity and agility to maximize opportunities.
4. Organisation stop growing because people get comfortable, quit dreaming, stop taking risks, and lack a master plan for enduring for generations.
5. Business fails because of lack of staff loyalty, failure to organize little details, poor customer service, and insufficient capital.
6. Business also fails because of poor credit management, government policy, economic climate, and the death of the founder.
7. Most staff left their job because of how they were treated, not just because of what they were paid.
8. The real money in real estate is in the diaspora
9. Copycat principles – whatever you start in 6 months, other people will come into it and do it.
   

   Business Sustainability

10. Create a 5 – 10 year plan for wealth
11. Know when to walk away
12. Walk away when government policy threatens the future of a business venture.
13. Build a network of positive people around you.
14. Seek help and advice.
15. Pursue your dream vigorously.
16. Think big picture.
17. There is no problem without a solution.
18. Walk away from things and count your loss.
19. Be tender and tough.
20. Hope is not a strategy.
21. Do staff retreat two times a year.
22. Document the performance of your business in the last 5 years.
23. Gather accurate data of your customers.
24. Do regular meetings with your staff.
25. Follow your values.
26. Cut cost.
27. Position your business for 24 hours economy.
28. Do old things in a new way.
29. First law of marketing is to understand the product.
30. Put systems and structure in place for your business to run and be profitable without you.

31. Customers are not just kings in business; they are the kingdom.
32. Be committed to the people you are sent to.
33. Commitment and mentorship help with business sustainability.
34. Superior customer service helps with business sustainability.
35. Define your purpose.
36. The CEO is a strategist.
37. People are critical success factors to business sustainability.
38. Tell people you trust them.
39. Design a repeatable business model.
40. Design growth strategies.
41. Use other people’s money (OPM).
42. Use other people’s resources (OPR).
43. Be sensitive to opportunities.
44. Hire slowly and fire quickly.
45. When revenue goes up, profit grows up.
46. Plan for the future.
47. Human capital + structure + culture + strategy helps with sustainability, and they are your competitive advantage.
48. Focus on the customer more than the competition.
49. Document what you do in your business.
50. Focus on what you can do, and others cannot do and delegate what you can do, and others can do.

And lots more…

The write-up is put together by Dayo Adetiloye, a participant in the business sustainability Masterclass. I am available to train and facilitate sessions with Business owners and staff on strategy and business growth. I am also an expert in fundraising through grants, loans and investments.

Call or whatsapp 08060779290 if you need my services.

 

Did you enjoy these 50 points?

List our 5 points that resonate with you out of these 50 points.

 

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