Okonji: How to prepare businesses systems for growth

In a dynamic and competitive business environment, driving sustainable growth requires more than just ambition, it demands strategy, innovation, and resilience. Today, we delve into actionable insights that can empower start-ups and businesses to scale effectively, address key challenges, and position themselves for long-term success. Jan Okonji, Consultant and Founder of Business Growth Solutions (BGS), shared expert perspectives on building thriving enterprises in 2024 and beyond during a recent interview on CNBC Africa. As 2024 unfolds, businesses are navigating through a landscape that has been impacted by various global and local challenges. Jan reflects on the struggles faced by many start-ups and entrepreneurs in the wake of the COVID-19 pandemic and political upheavals. Despite these obstacles, there is a sense of optimism among entrepreneurs for the upcoming year. When it comes to laying the foundation for sustainable growth, Jan emphasizes the importance of both mindset and business strategies. He highlights the significance of rituals and activities that promote a healthy mindset, along with the need for a business mentor, a well-defined business plan, and clear business targets. By focusing on these areas, entrepreneurs can set themselves up for success. Identifying and reaching untapped customer segments is another crucial aspect of business growth. Jan advises businesses to understand their own offerings, market dynamics, and implement a customer segmentation strategy. In today's interconnected world, micro-niching has become essential to connect with ideal customers and build brand loyalty. Operational bottlenecks often stand in the way of businesses scaling up effectively. Jan identifies mindset, knowledge, finances, team building, and communication as key challenges that entrepreneurs face. Overcoming these bottlenecks requires a combination of resilience, continuous learning, and strategic decision-making. The conversation also delves into the realm of finance, where Jan offers valuable insights on structuring relationships with money. By focusing on clear objectives, efficient processes, and impactful results, businesses can improve their financial management practices. When it comes to funding growth and minimizing financial risks, understanding the mindset of investors and tailoring funding approaches to suit different investor types can enhance the chances of securing funding. In conclusion, Jan's expert insights provide a roadmap for businesses looking to thrive in 2024 and beyond. By prioritizing mindset, strategy, customer segmentation, and financial management, entrepreneurs can navigate challenges, unlock growth opportunities, and build resilient enterprises in an ever-evolving business landscape.