Business Tips from Latifat Balogun – Founder of Hatlab Ice Cream Delite

  • Look for what makes your brand stand out, then build on it and be the best at it.
  • People do not come to work for you but for themselves. They only work for you if you have earned their respect or give them a meaningful incentive, not because you give them orders.
  • While gut feelings play a key role in making a right or wrong decision, it is important to still do a proper feasibility study before embarking on a project.
  • Try to avoid paying in full for supplies, negotiate opportunities to pay in installments. This helps achieve more in less time using other people’s funds.
  • When the business is small it is easy to manage staff and the enthusiasm they bring to the business. But when you grow, you have to deal with work issues but also issues outside the workplace.

Latifah states, Sweet success like this doesn’t come without a lot of discipline and a willingness to invest in yourself. Latifat wants women especially to understand this. “Women face a lot of barriers to owning a business in Nigeria, factors like lack of capacity, skills, and structure that affect how we raise capital and compete favorably. But why should anyone be willing to invest in your business when you are not willing to do so yourself? When you’re looking for finance, you must be able to demonstrate the need to use your own funds before asking for help. I’ve resorted to selling my jewelry to meet down payments. What is the economic value of anything if you cannot put it to use when needed? We are what we make of our dreams. Nothing is impossible if only we can try and are willing to make sacrifices to get there.”

You may learn more about Latifah here: SheInspiresHer



































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