A Non-Governmental Organisation, the Pearl Rose Foundation, has trained over hundred artisans and traders on business development and sustainability.
The training, which held on Sunday at the Alimosho Local Government Secretariat, Akowonjo, drew participants such as technicians, bricklayers, tailors, traders, caterers, aluminum fabricators and others.
The Executive Director of the foundation, Dr. Isa Elegbede, in an opening remark, said artisans are the backbone of most developed economies, noting, however, that the same is not applicable in Nigeria.
He said this state of affairs was what motivated the foundation to initiate the training initiative in order to empower the artisans and make them more competitive and contribute meaningfully to Nigeria’s economic growth and development.
A Guest Speaker, Mr. Kazeem Lawal of Stanbic IBTC Pensions Limited, who discussed “Business Strategy Formulation and Execution” told participants that formulating business strategy would assist them to think beyond the short term and build better business.
According to him, it will also serve as a roadmap to success in addition to helping them navigate through various challenges.
On how to formulate their business strategies, Mr. Lawal identified steps involved to include “knowing the value to be added, understanding customers and what makes them happy, setting both short and long-term targets and Key performance Indices (KPIs), defining actionable activities to achieve the set targets and KPIs, and identifying partners that can collaborate with you and hold you accountable on the journey.”
Another Guest Speaker, Mr. Salman Hakeem, Head of Audit, Nigeria Operations, Mohinani Group, explained how Compliance and Risk Management can boost artisans’ businesses.
He advised participants to have adequate knowledge of their operating industries as well as the regulatory agencies in charge.
This, he said, will afford them the opportunity of knowing the rules, policies, standards and laws that guide their activities.
“Risk is part of life which everyone involves in. Each business has its risks. You must, therefore, understand the inherent risks in your business. Unfortunately, a lot of people jump into businesses without understanding the risks involved and how to maneuver through them” he added.
A lecturer at the Lagos State University, LASU, Mr. Lawal Ibrahim, took participants through Customer relations management and how to build excellent client management.
The Chief Executive Officer, Earnest Global Investment, Mr. Ismail O’yomi, discussed “Productivity and retirement plan.”