If there is anything Adebimpe cares about intensely, it is business- talking about it, running it and growing it. The normally introverted business founder comes to life when she is asked about her experience as a business owner or about healthy mouth-watering treats.
Adebimpe Osanyintuyi is the founder and CEO of Dios Dlite– a healthy food company with outlets in Lagos, Nigeria. Dios Dlite’s products include healthy yogurts, salads, sandwiches, fresh juices, and so much more.
Before leaving the corporate world in 2018, she worked in marketing and branding for companies like GlaxoSmithKline and Nutricima Limited.
In this article, she shares her wealth of experience with Dios Dlite and gives valuable tips on how to manage a demanding business and a full-time job amongst other things.
What inspired you to start your Dios Dlite?
Starting the business was not out of a financial need because when I started Dios Dlite in 2015 I had a great corporate job. I ran the business for three years before I decided to resign in July 2018.
I have a sweet tooth so I wanted to have healthy alternatives for all the sweet things I enjoy. Most times, when we think of healthy food, what comes to mind is boring food- food that doesn’t look or taste nice. I wasn’t going to settle for that.
Frozen yogurt appealed to me because it is a healthy alternative for ice cream which is delicious but has way too many calories. So I started with frozen yogurt and we kept to that for over a year.
It was going well but along the line, our customers started requesting fresh yogurt. They wanted to be able to take it to their homes and not have it melt or spoil. So we decided to cater to this and along the way, we were getting helpful feedback from our customers.
You mentioned that you were working a corporate job when you started Dios Dlite, how were you able to manage both commitments?
The processes I put in place made it easy for me to manage both. On some days I was too tired from work to stop by the store and see what was going on. Other times, the outlet may have closed before I am done with my work for the day.
Some of the major things I did to manage this was
Invest in software–
One major thing that helped was sales-tracking software. With this software, my staff would punch in their sales and I could easily look at the numbers. I could see which products were slow and which products were doing well. That software helped me to have a hold on what was going on in the store without necessarily being there.
Give clear instructions-
Another thing that helped was the relationship I cultivated with my staff. Whenever I gave them instructions, I broke them down and made sure they understood the tasks. I also make sure that my interactions with them are geared at improving the way they function as workers and as people in general.
Invest in staff’s development-
I have realized that as an SME, what you choose to invest in your staff is important. You have to invest something that goes beyond just the salary. If you think it just about the salary, then they will give you what they think the salary is worth. I try to invest time and energy in their development by training and coaching them.
When I have performance reviews with them, I always ask what they are doing asides from the job. When you genuinely care about people, they can tell and it reflects in the way they work for you.As an SME, you have to invest a lot more than money in your staff. If you think it just about the salary you pay, then they will give you what they think the salary is worth Click To Tweet
What valuable advice would you give to a small business owner that is just starting out?
Do not compare your business to others-
Businesses similar to yours may be charging higher or lower than you for the same item due to their location, maintenance fees, logistics, and emergency expenses. So do not use what you see on the front end as a basis to set your price. Do your costing properly, figure out what you want your profit margin to be, and go from there.If you currently earn N300, 000 per month and your business can afford to pay you N100,000, set a date, and start living on that for the foreseeable future. Click To Tweet
Save up and cut down on spending-
If you plan to leave a steady paying job to focus on your business, make sure that you have substantial savings to fall back on. So if you currently earn N300, 000 per month and your business can afford to pay you N100,000, set a date, and start living on that for the foreseeable future. How you manage your finances as a business owner can make or break you.
This feature article on Adebimpe Osanyintuyi is sponsored by the First City Monument Bank (FCMB). FCMB is passionate about empowering female entrepreneurs, helping them build their businesses, and improving the overall success rate of businesses owned or run by women.