WHEN YOUR ACCOUNT BALANCE IS HUGE BUT IT IS STILL UNTOUCHABLE.

This morning, SOBCA’s Deputy Faculty Director, Shittu Sulaimon, told me “Coach, it is definitely not easy running a business. How do you guys cope?” 🤣😂😂🤣🤣🤣🤣

IF YOU KNOW, YOU KNOW!

Among the myriad of experiences an entrepreneur goes through, there’s one I want to talk about today. It is called THE ACCOUNT BALANCE.

In 2017, SOBCA mobilized $50,000 to build a tech platform. As the investors were sending money to our account, and it was swelling, it was untouchable. Because every kobo had a purpose.

In the course of our work in the last 5 years, we have received ‘heavy’ payments from sources of projects and for as long as that money sat in the account, IT WAS NOT OUR MONEY. Chai!!!

In 2019, in preparations for the inaugural BSG Summit, we had lots of payments. We actually sold out the event. We had sponsors too. But guess what? We still ran at a deficit after the ‘plus and minuses’. So you can imagine that the account balance at the time of receiving all participants payments was in excess of N3,000,000 but despite that, we did not make profit from the event.

THIS IS ONE OF THE BIGGEST MYSTERIES OF ENTREPRENEURSHIP. The mere fact that your account balance is not your money.

But again, that is the ginger. That is the adrenaline that drives a business man or woman. The sheer MIRACLE of the UNEXPECTED and UNCERTAIN future of your business. That is what makes entrepreneurship sweet.

So why have I shared this story o? Errrm, this is just to say: AFTER BSG SUMMIT 2021, we shall not be IN DEFICIT!!! Amen???? Amen!!!!!

If you said Amen, then you need to answer the question: HAVE YOU REGISTERED FOR #BSG_SUMMIT2021 YET?

If not, why not? If yes, kindly tell someone also.

It is still N35,000 to get a seat. And N90,000 for a ticket of 3 delegates. Act now. Because we are changing to N55,000 THIS WEEK.

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Sam Obafemi
Convener