When an entrepreneur put in the best of his efforts and strategy in business and nothing still works,
what is the next step to take? Some of them explain what they do at this critical point…
LANRE AKINYEMI, Product 7 Clothing
I change my strategy. If plan A is not working, then I change to another. There are times when some societal factors hinder your plans from working and when that happens, I change.
As a businessman, I have gone through such experience many times. Just recently, I took a risk in my business and it didn’t pay off.
TOYIN OYEDOLA, Teetop Entertainment
I implement new strategy. I examine the situation and look for workable solution to the problem. Late last year, I had problems satisfying my clients. I got complaints now and then and it was very unusual. I sat down to examine what went wrong and as soon as we were able to figure it out, things started working fine.
SHELLE OLUWADAMILARE, Oluwadamire Foods
I think I will slow down to rethink. I will take a break to restrategize. I will also try and find out the causes and deal with them. I passed through this challenges three times in my business.
I had faced these challenges but what I always do is to sit back and think. I remember very well that I lost many customers last year, but I needed to find out why and I approached the areas with different techniques. At the end, it worked.
ENIOLA OGUNDIPE, Beldaz Kith
I sit down and think about what really went wrong and work on it immediately. In times like this, I also pray to the Almighty God to guide my steps.
With God on my side, I have experienced this just once.
OLUBUNMI OWOYEMI, Naduvi Creations
I usually take a break, relax and seek advice, think about it before taking the final decision. It happened once.
DAVID OLOWOLAYEMO, D Fashion
I will leave the business for some time to think and figure out the reasons the business is not going well. I will approach it with different techniques and at the end it will come out well.
The last one was in 2012, when people were complaining about my products. I sat back and figured out why it was like that. I tackled it and it started booming again.
Philosophically speaking, things are bound to appear turbulent. When they do, they expose us to some new experiences, equipping us with bigger capacity to handle tougher challenges.
Whenever everything appears wrong, it is only an omen that a great and new beginning is around the corner. When things appear wrong, I soberly reflect on areas I have made mistakes and prayerfully seek ways to resolve it all.
I look out for the experience and lessons that came out thereof and position myself well for a new beginning. It is never a sweet experience. It is a phenomenon that comes up periodically unannounced.
KOLADE OBOZUWA, Avante Garde
It is not easy to go through such a moment but anytime I find myself in such a situation, I pray to God to direct my steps and lead me through the right path.
Since I started my business, I can only record going through this moment three times and God has been faithful.
When everything seems to be going wrong, I find it difficult to cope. But after praying, I strategize again, see what and what are wrong and how they can be addressed without wasting my time.
I only experienced that kind of situation on two occasions. That’s was in 2008 and 2009. I corrected them by coming up with new ideas.
TOSIN AKINYEMI, Tosyne Ventures
As an entrepreneur, you checkmate where things are going wrong and find a solution. I went through that situation last year but I thank God I was able to scale through.
AYO BALOGUN, Harmonic Band
I will pray first. Then, sit down and examine where exactly I have done wrong and start to make corrections. I don’t always see myself being right at all times because I am a human being, and I am bound to make mistakes.
Yes, I passed through the experience few times but the one I always recall was when my equipment started going bad, and my clients were complaining. As I was putting things together, I discovered that acquiring new equipment will be the only solution. That informed the new one I just bought which will be launched soon.
STELLA IMOKO, Mocha’s House
For me, I simply go on my knees, pray to God and work harder. It happens a lot of times, but somehow it turns out fine at the end. For me, there is no turning back in anything. I keep putting efforts till it works out.
OLAWUNMI VICTOR, Just Cakes
The first thing to be done is to pray, then take a closer or critical look at some mistakes and make necessary amendments. Strategize on new ideas either by promo or creating awareness. I think these steps might help.
I actually experienced some hard times when I started my business. I suffered low patronage and I almost closed down my shop. But with patience and God’s intervention, I was able to win the battle.
BIOLA ADEBAJO, Evergreen Events
I just take some recess. I pray and fast. God is able to do all things. Even when breakthrough tarries, I always know He’s for the best. He never leaves His own.
Once I had to pause a while to find means of getting myself back to order. It was really tough. It was really tough that I had to put myself through serious fasting and prayer for several months. In fact, I wasn’t going to shop until something positive happened.
BAKARE EBUNOLUWA, Babysmart Clothings
What I simply do is take a little time off to restrategize, and refocus. As soon as I do these things, it takes a new turn. I have experienced this twice and restrategizing did the trick.
HADIZA YADOO ZAAKI-AZZAY, Zadim’s Concept
I stay focused and strategize. One should also pray and still have faith. I have experienced it just few times but it is only a cross roads for you to bounce back better.