The Citadel Global Church Community has identified funding and proper analytical skills as vital ingredients for the growth of businesses, especially start-ups.
This was disclosed at the inaugural edition of the Global Economic Empowerment Workshop, tagged, “Bridging The Gap Between The Rich God and a Poor Church,” facilitated by the Department of the Economic Empowerment Team of the CGCC.
Delivering a lecture on the topic “Designing your Business for Success,” the Chief Executive Officer of the National Feeders Nigeria Limited, Dr Victor Oduguwa, said understanding one’s line of business through proper analytical skills was essential to business success.
He said that competitive awareness about the market was also important for business growth.
On his part, the Chairman of the Board of Africa Youth Cooperative Network, Mr Daniel Bello, said start-up owners should patronise their neighbours’ inventories as well as services rather than take the money outside the circle.
He stressed that there was no limit to the patronage enjoyed while paying for one’s neighbours’ services and products, advising participants not to be too timid to network.
Earlier, the Director of Finance and Economic Empowerment, CGCC, Mr Segun Oloketuyi, while thanking the General Overseer, Pastor Tunde Bakare for his leadership and commitment to the scheme, said the workshop was an economic intervention for members of the CGCC.
He said the workshop also included training, business and financial advisory, information technology (IT) and cooperatives.
One of the participants, Ms Adelore Nifesimi Jolaade, said the workshop had taught her to understand a business before investing capital in it.
She said, “Upcoming businesses, especially start-ups, have to do enough market feasibility for them to know if the business they are going to put so much capital in will be solving any problem.
“And once your business doesn’t give value, it often leads to failure. At most, you keep dragging until it becomes a liability.”
Another participant, Architect Eyo Christopher, said that patronising one’s neighbours’ products and services was his major takeaway
Christopher noted that there was a need to have a full grasp of the products or services before investing time and energy.
“This is one of the reasons why businesses fail and die. There is also a need to source for capital and have a true insight into what the business itself is.
“And before you venture into a business, you must know the ins and outs of it. You should also have a blueprint. There will be challenges but you should be ready to push through,” he said.