Renowned entrepreneur and former chairman of First Bank of Nigeria, Mrs. Ibukun Awosika, has urged women entrepreneurs to embrace innovation and adaptability to navigate the challenging economic landscape in the country. Speaking at the 2023 Women High Achievers Trybe (WHAT) conference in Lagos, Awosika emphasized the importance of reinventing businesses in response to changing seasons and the dynamic nature of the world.
Addressing the audience under the theme “Elevating Women Entrepreneurs: Strategies for Success,” Awosika highlighted innovation as a critical strategic tool for business survival. She urged women entrepreneurs not to be discouraged by business downtime but to view it as an opportunity to reset and adapt to challenges.
Awosika drew attention to the transformative power of innovation during times of crisis, citing examples of companies that successfully reset themselves during the COVID-19 pandemic. She emphasized the need for flexibility and openness, encouraging entrepreneurs to think on their feet to effectively navigate uncertainties.
Discussing the entrepreneurial journey, Awosika outlined three key stages and stressed that success in ventures depends on the ability to deploy each stage effectively. She provided insights into how women entrepreneurs can enhance their business acumen and cope with the dynamic business environment.
The convener of the conference, Mrs. Kiki Okewale, stated that the event aimed to empower women in business, providing them with valuable insights on improving their crafts. The conference served as a platform for women entrepreneurs to gain knowledge, network, and enhance their skills to achieve success in their respective ventures.
