FEMI DAVID J.

—-Business strategic meetings—-
I was welcomed into a meeting with an entrepreneur who owns and manage a competitive medium business with a team, the call became urgent tailing towards a survival of a one time best & performing business in an F&B, but inherently dyeing gradually. things spoken out by the entrepreneur which should be a point’s of note to many as a sign of 🚩 and a ground of learning to other aspiring entrepreneurs, growing business and management.
It was point clear that, the business was underperforming, while still over-trading, I assume all in the sense to keep customers base and still be in the business to the point of incurring regular losses.

However, the very first fall in which the entrepreneur suspected was inability to know PM (profit margin) by determining SP(selling price) this became worse off as the business did not keep track of cost; you can’t run a business in this type of economy without a proper book keeping, BK is necessary for a quick decision making, while in other hand the business was still trying to micro-manage “operations, logistics, finance & procurement” tell me even a larger team members find it hectic to handle demands from customer & satisfy customers at the same time.
After over 1 hour of quietly listening to the challenges face by the business & the entrepreneur, and how things has moved from my best kind of business in town to I don’t know how we got here, i have to recommend swift move to action.

The business needs to be re-structured or re-organised in terms of identifying the business needs such as; man-power needs, finances requirements, equipment requirements, book keeping records, materials usage variance, products/producrion qualities, customers satisfaction, market share/penetration & return on investment (ROI)”.

Without further stressing on the reasons we got here; I have critically assessed and recommended immediately for the business to put together “a budgeting”.
Importance of budgeting is like ‘business planning; whoever fails to plan, also plans to fail’, while also budgeting is like a road map to where we are; and where we are going, which automatically help to identify the need gap…
I trust this information about my client will suffice to guide an intending business entrepreneurs or existing business owner or key management teams, during key business decisions making.

Feel free to comments, add your professional & industry insights on the business case identified above.

Thank you LinkedIn community.

Later this December 2024 & January 2025, I will be hosting a virtual session on “Business Goals Settings master Class (Your Strategic ROI for 2025) this will be helpful for both new & existing business entrepreneurs & individuals who wants a 🎯 ROI in 2025.





ng on (instagram|Xtwittwr)