The Steven Akintayo Foundation (SAF) recently hosted a transformative Business Growth Conference under the theme ‘Principle of Scaling Your Business to 10 Figures.’ The event, which took place at Eko Hotel & Suites last weekend, was aimed at equipping entrepreneurs across Nigeria with the knowledge and tools needed to scale their businesses locally and internationally.
Bringing together a diverse group of young and seasoned business owners from across Nigeria, the conference featured insights from internationally renowned business tycoons, including Bayo Adedeji, Group Chief Executive Officer (GCEO) of Wakanow.
A Call to Revolutionize Nigerian Entrepreneurship
The conference was convened by Dr. Steven Akintayo, founder of SAF and Chairman of Gtext Holdings, who emphasized the dire need for Nigerian businesses to scale. According to him, 90% of businesses in Nigeria fail within the first two to three years, a troubling statistic that inspired him and his team to create a platform to support and empower local entrepreneurs.
Dr. Akintayo stated:
“We realized that a lot of businesses are dying in Nigeria, and we felt the need to contribute our quota in developing this nation. Imagine Nigeria having one million businesses each doing a billion naira in turnover—that would practically eliminate unemployment, as each of these businesses would employ over 50 people.” He further emphasized that the core of the conference was to build a culture of self-investment, knowledge-sharing, training, and entrepreneurship within the nation.
Dr. Akintayo envisions the conference as a business revolution that will continue to grow annually, fostering entrepreneurship and business development in Nigeria and beyond.
Key Insights from Industry Leaders
Bayo Adedeji, GCEO of Wakanow, shared valuable advice on how to rescue failing businesses. He stressed that the first step in saving any business is to focus on the customer and truly understand their needs and preferences. He added:
“You can’t build the best product in the world if your customer is not willing to engage with it. Secondly, you must understand the business itself. You can’t save a business you don’t understand.”
Adedeji also offered practical advice for young entrepreneurs, recommending that they first get a job to learn the fundamentals of running a business before venturing into entrepreneurship. He stated:
“I strongly recommend that you get a job first. This experience will teach you about the reality of running a business. I also admire the apprenticeship program among the Igbos, as it allows aspiring entrepreneurs to gain essential hands-on experience before launching their own ventures.”
Empowering the Next Generation of Entrepreneurs
The conference was a clear call to action for entrepreneurs across Nigeria to invest in their knowledge and business acumen to scale their ventures. It also reinforced the importance of mentorship, training, and continuous learning to ensure long-term success in the business world.
By providing such a platform, the Steven Akintayo Foundation continues to inspire and empower Nigerian entrepreneurs to dream big and build businesses that can thrive in a global market.
