We have three inter-related foci under Entrepreneurship Development.
The first is the ORIENTATION OF SMALL, MEDIUM-SCALE AND FAMILY BUSINESSES TO CUSTOMER RELATIONSHIP, FINANCIAL MANAGEMENT & GOOD GOVERNANCE OVER BLIND PURSUIT OF PROFIT
We are out to reverse the high mortality rate of small, medium-scale and family businesses (the majority of which die with the founders) which constitute the engine of economic growth and development around the world. We have programmes designed to get them to prioritize passion, objectives, customer service and relationship management as well as fundamentals of marketing, technology, financial management and good governance, over blind pursuit of profit, in order to last.
Apart from too much focus on profit, at the expense of passion and customer relationship, there are issues of fiscal rascality, generation gap between founders and successors, sibling conflicts and paternalistic hiring and promotion practices. We can work with such businesses to (1) formalize job specifications and financial relationship between family members or owners of the business – from holding, sale and transfer of shares to social security and retirement entitlements (2) develop employment and operating policies that are sufficiently impersonal (3) create yardsticks that can make the succession process more transparent and acceptable to all stakeholders and (4) determine the exigency between external and internal leadership recruitment as occasion demands.
The second is SUCCESSFUL START-UP OF BUSINESSES AND ADVANCEMENT OF GOING CONCERNS
We have various services both for successful start-up of businesses and for advancement of going concerns to the next level, which can be tailored to the enterprise schemes of individuals or groups or that of tertiary institutions and non-profit organizations, such as the National Youth Service Corps.
For start-ups, we begin by reviewing the related feasibility studies, previous preparation, talents, abilities and intentions of promoters. We then define the market, the competition, the educational and skill gaps as well as the technical and financial requirements for success in the chosen business area. These are then linked to location, training needs, funding programmes and other performance factors.
For going concerns, we begin by examining the vision and mission, market definition, organization and governance structure, skill and technical gaps, funding structure and requirements and competition and training needs. Findings are then linked to a repositioning or turnaround programme suited to the client.
The third is TO POPULARIZE BOOK-KEEPING, ACCOUNTING& FINANCIAL MANAGEMENT
We are out to popularize the culture of book-keeping, accounting and financial management, to draw the line between streams of personal cashflows and business cashflows and borrowed funds. Many a time, it is found that books of accounts are not kept at all or are kept in the breach, leading to the compromise of profits, cashflows and capital. The business then dies. This culture must change.