Mitchell Elegbe, GMD / Founder, Interswitch Group, has advised business owners to identify problems in their environments and find ways to create solutions for them, noting that businesses earn more by solving real problems.
Speaking during a Breakfast Chat series at the Co-creation Hub (CcHUB), Yaba, Lagos, Elegbe stressed the importance of identifying the reason for embarking on a business venture – to solve a problem or make money.
He explained that to stand out in business, it is important to identify problems and develop solutions for them.
He said: “The key is thinking critically. You will be surprised at the kind of challenges you will discover and find solutions to. Problem-solving is what will stand you out and ensure you become indispensable. That should be your mindset.”
Sharing tips on building a globally sustainable business, Elegbe advised that entrepreneurs should run their businesses with the mindset that they can be fired. He also urged business owners to be disciplined, explaining that there are some businesses meant for mere survival but cannot scale to the next level.
Speaking on behalf of the participants, Francis Sani, Acceleration Programmes Manager at CCHUB expressed his appreciation to Elegbe and hoped that the participants took notes of nuggets needed to push their businesses to a higher level.
35 young entrepreneurs across various industries attended the series. Held monthly, the breakfast chat is an exclusive chat series for entrepreneurs to network, address pressing business issues and discuss possible solutions to their business challenges.