Entrepreneurs urged to build systems, develop people for value creation

As Nigeria continues to strengthen its entrepreneurial ecosystem, business owners across the country have been urged to do more in building systems, and developing people for value creation.

Catherine Opeyemi Adesomoju, convener of Time Out With Kate, said that building transgenerational businesses means recognizing that today’s leadership decisions can influence employees, families, communities and future generations.

“Ownership is not merely about what individuals possess, but about the responsibility they accept, the value they create and the legacy they leave behind,” Adesomoju said, during the recent Time Out With Kate 4.0, themed, ‘Building Transgenerational Businesses.”

The annual entrepreneurship conference highlighted the need for stronger business structures, succession planning and long-term economic growth.

Rather than focusing exclusively on financial gains, entrepreneurs were encouraged to build systems, develop people and establish values that can sustain their enterprises beyond their personal involvement.

Central to this approach are seven pillars of ownership: vision, focus, discipline, learning, courage, integrity and value.

Furthermore, the message extended beyond entrepreneurs to four important stakeholders: employers, employees, government and communities.

According to Adesomoju, employers have a responsibility to build sustainable institutions and create opportunities. While employees must embrace professional development and personal accountability.

She added that government institutions must demonstrate responsible leadership and fulfil public commitments, while communities must promote shared responsibility and collective progress.

Adesomoju also urged young business owners to own their vision by building lasting legacy through responsible leadership and sustainable enterprises.

According to her, the conference represented an opportunity to strengthen Nigeria’s entrepreneurial ecosystem through business education, mentorship, leadership development and knowledge transfer.

The conference further reinforced the importance of responsible leadership, business sustainability, financial intelligence and generational wealth creation.

Time Out With Kate 4.0, therefore challenged conventional ideas about business ownership, emphasizing that true ownership is demonstrated through accountability, discipline, continuous learning and the courage to make difficult decisions.