Ayodotun Akinfenwa is model/advertising Marketing consultant and Founder, Way of life Hues Model Consulting. She shares her expertise with Modestus Anaesoronye on her journey into entrepreneurship, challenges and achievements.
She begins her story: “I by no means got down to be an entrepreneur. Fairly frankly, I had advised myself from the onset that I wasn’t reduce out for navigating the enterprise world alone. I used to be a fantastic member of employees, doing properly in that context and I used to be fantastic till step by step I used to be not anymore. I wished to discover some presents which stored stirring in me; you recognize these uncommon presents that present up in moments of inspiration. One December, I resigned and thought I used to be taking a break, alas, it was a transition. My journey has been colored with tons of useful classes, and as we mark our fifth 12 months in enterprise and reposition ourselves at Way of life Hues Model Consulting, I assumed it was smart to share a few of these classes and defining moments for brand new or intending enterprise house owners.
Listed here are 5 of the various issues I’ve discovered and am nonetheless studying on my journey:
be resourceful, to create worth, options and earn money:
It’s one factor to know your craft; it’s one other factor to deal with the enterprise of your craft. If something, my 9-5 taught me my craft, however my enterprise taught me each my craft and how one can make it earn money. And I’m studying in waves, from my successes and failures. Ardour is one factor however you will have your margins and your progress to consider or you’ll be out of enterprise quick! There are lots of debates as regards to ardour vs revenue, following your ardour and what not. I learnt the arduous manner that what I assumed was superb wasn’t at all times superb to the audience and so it is advisable to hold tweaking to search out the candy spot between what you supply and what the market wants. The tweaking by no means stops.
I realised for a very long time, that our purchasers have been joyful however our backside line was not! If you’ll be in enterprise sustainably, each you and your purchasers have to be joyful or there’s no level beginning that enterprise dialog. For example, whilst you can not serve everyone, you may create packages and companies to swimsuit some teams, and nonetheless earn money. A few of these packages will succeed, others will fail. We continue learning and tweaking.
Individuals and Group constructing no matter your personal expectations and experiences
I’ve a really sturdy work ethic due to my background in 9-5 and anybody in advertising and communications can relate to the drive it is advisable to survive. I introduced that to my enterprise and have a tendency to push my group, anticipating them to ship the identical manner I do however over these 5 years, I’ve needed to be taught to be affected person. I’m nonetheless studying when to be powerful with my employees and when to let issues go, they’re human in any case and have feelings. In addition they do not need my expertise and capability but and they’re totally different from me, totally different abilities, strengths, and weaknesses: no two group members are the identical. That stated, it is advisable to continually watch and play to their strengths, feed their motivations, leverage their distinctive capabilities and all they carry to the desk and watch them ship and develop underneath your tutelage.
Learn additionally: Nigerian entrepreneur, Desayo Ajisegiri wins 7up Harvard scholarship
In hindsight, I now perceive why some enterprise leaders are termed loopy. It takes a certain quantity of loopy to do nice issues and carry your group alongside. That stated; we search a stability. We lead by instance, push them to be extra however attempt to be human. Ultimately, the enterprise is yours, not theirs. This additionally applies to purchasers, some are set as much as be simple to work with, some are simply not, totally different dynamics. Ultimately, advertising is a folks enterprise
There’s a lot inside you and in your setting to find
Once I was in 9-5, I didn’t know something in regards to the world of enterprise outdoors my craft, however beginning out has pressured out my management, negotiation, artistic and different survival abilities. These are abilities I by no means knew I had. Working a enterprise forces you to develop up in a thousand methods. There’s an entire world on the market so that you can discover. Once I opened one door, I found one other door and one more. I began small with easy model consulting for small companies, and within the course of, I realised that we may tackle initiatives. From there, we made our foray into Advertising and marketing technique, Coaching, Company Communications, Media Relations, and Outside. From the facility of the information financial system to countless prospects in investments, it has been an journey in discovery. Within the course of, I found our (my group and I) means to drag off a variety of issues.
To be trustworthy, it wasn’t all roses and champagne, it nonetheless isn’t, there have been challenges and roadblocks, as is the case with each journey in direction of greatness. My recommendation is that you just embrace the truth that the extra you get, the extra challenges you face, the extra strengths and ability you uncover.
Community. Study from my successes and failures
Each enterprise connection I made or misplaced, each recognition, each contract I missed or received was based mostly on simply how a lot networking I used to be doing. An enormous chunk of our enterprise comes from referrals, about 70 % and generally, I can hardly sustain with the enquiries. On one hand, I’ve relationships I haven’t cultivated and I’ve missed a lot. The associations I’ve managed to maintain have introduced us so many alternatives.
Don’t fall into the entice of being an worker in your small business, enveloped in each day duties, a serious a part of your accountability is networking with stakeholders in your trade, with prospects and the enterprise group usually. Don’t fall beneath the radar. This brings me to my final level.
Your mindset is every part
In the case of the standard of labor you plan to ship, the way you see your small business, it is advisable to guard your considering, this additionally applies to the trajectory of your small business wants and area of interest market.
You’re the driver of the enterprise, no matter requirements concerning the standard of your work you set, your employees will comply with swimsuit. Every little thing rises and falls on the standard of your management. Spend money on your considering, affiliate with the best folks, spend money on applications that may expose you to the next stage of consciousness.
Your cash mindset is one other big roadblock. Once I began this consulting service, I assumed small and charged peanuts, and served purchasers like I used to be their worker and it backfired. You are actually a CEO. It’s good to carve out time to assume like and be taught to behave like one. As time glided by, I got here to grasp that small or ‘affordable’ wouldn’t pay the payments and compensate for the amount of labor and energy my purchasers demanded. That’s historical past now although. I discovered and I’m nonetheless studying to grasp my price and cost accordingly and even add tax. As a discovered to assume large, I’ve equally discovered to show down some jobs that don’t have the potential to construct us up, and each events are the higher for it.
Know that your progress, your development and your price as a enterprise begins in your thoughts. If you happen to assume small, you most positively get small. Suppose large and also you get large. Suppose just like the CEO you’re or hope to turn into.
Entrepreneurship is an entire stage of schooling by itself. It has taught me to be courageous and decided, and to put on my large woman pants. You’ll face cash hurdles, folks hurdles, regulation, authorized hurdles and extra. The excellent news, in the long run, is, will probably be price it if you’re reduce out for it, which I imagine you’re as a result of you will have learn this text to the tip.
Profile:
Ayodotun Akinfenwa is a Model/Advertising and marketing Marketing consultant with about 14 years of trade expertise. Earlier than beginning Way of life Hues Model Consulting in 2016, she constructed her profession engaged on worldwide manufacturers. At present, she consults for corporations and trains enterprise house owners on the themes of Advertising and marketing, Model Constructing and Content material Technique. Her agency has skilled over 10,000 people and served a number of companies.
She holds a Grasp’s Diploma in Advertising and marketing. She is an Affiliate member of the Promoting Practitioners Council of Nigeria, (APCON) and Girls in Enterprise, Administration & Public Service (WIMBIZ), a Member of the Chartered Institute of Advertising and marketing, UK and is a Canva Licensed Artistic.
