I have a confession to make. Whenever I need amusement, I ask entrepreneur friends of mine about the financial aspect of their businesses and the answers I get actually make my every bumpy road days as an entrepreneur very comical and interesting.
While I get a kick at their expense and I know a lot of them do not find it funny sometimes, of which I tell them to please relax, it’s only a joke and add that at the end, you better pay me consultancy fee to handle it for you, it is really not a joking matter.
A lot of entrepreneurs I have met have very great ideas and have a passion for the start-up they are working on. However, they always tend to overlook the one thing that would define the survival of their business – the finance aspect of it. I m sure you are all wondering but as an entrepreneur I know I have to raise finance to launch or scale my business up, well the problem is that we entrepreneurs get engrossed only with the financial aspect.. The bad news however is, you need to have the financial aspect of the business in good health so as to be able to raise finance. There are different kinds of investors out there, some invest in the idea, others invest in the team, and ultimately after they have invested their money, they would expect a return on their investment. The finance aspect I am referring to is the aspect that guarantees an investor a return and also that is the aspect that guarantees the success of your r business.
Finance is not just debits and credits as we were once taught to believe, actually, spending the last 14 years of my life in the finance industry, I have been privileged to see the profession evolve into becoming a significant value add of any business. Finance professionals are now seen as your partners in business. Why? Because we as finance professionals are taught to use numbers to tell the beginning and end story of a business. We are required to understand the make-up of every business so that every number tells a …. Read More
Dolapo Sanusi- Ola is the CEO and co-founder of Osusumobile. She also consults as financial strategists for businesses and start -ups. Dolapo has 15 years of working experience in the finance sector ranging across different industries including financial services. Currently pursuing an MBA at imperial college of London, she is a CIMA chartered accountant with an MSc. in investment, treasury and banking. In this article, she tells us why entrepreneurs need to take numbers seriously while growing their businesses. Hear from the horse’s mouth: