Our weekly “High Growth Coaching Program Participants” Feature is our way of introducing our amazing SLA audience to the personalities behind this year’s cohort of the High Growth Coaching program, bringing to the forefront what they are doing and helping others who want to follow in their footsteps.
We are shining our spotlight on Oluwafunmilola Afolabi, co-founder of Yetar Virtual.
We sat down with her and she was gracious enough to share her journey, from how her love for numbers has influenced most of her major life decisions and how she manages to raise her family and grow a business.
“While working as an intern at a bank, I saw women/mothers complain about trying to keep the home front and work balanced. I could feel the pain in their voices, hence on completion of my internship, the auditor asked if I would like to come work in the bank in the future and I said “This is not the place for me.”
Oluwafunmilola knew she wanted to be present in the lives of her children and working within the four walls of a bank was not going to help her achieve this. In order to still keep up with her standard of living after her resignation, she began to sew baby dresses. However, this business venture was short-lived as playing with and interpreting numbers beats all, hence Yetar Virtual CFOs Limited.
Oluwafunmilola is happily married with 4 biological children and 1 adopted daughter. She describes herself as a funky mother who invests in both her children’s formal and informal education.
“The things of God are made a priority in my home and my lovely husband has made it a family culture. Some important value ingrained in my home includes Integrity, Humility, Excellence, and Honesty.”
Tell us a bit about your background – how did you get to this point?
“When I think about my journey so far, I am amazed at the full circle God has brought me especially entrepreneurially. As a first-born daughter, the expectation to be a role model to my 3 siblings made me step into leadership quickly. It influenced my approach to life. Additionally, my parents were intentional in supporting my inquisitive nature such that at age 11, I started my first business selling ice cream to our neighbors. I was born in Lagos, Nigeria, and have lived here all my life.
Interestingly, I wanted to be an accountant like my father, but I was admitted to study Finance at the University of Lagos. That didn’t deter me as I am an energetic, passionate and self-motivated person. I enrolled with the Institute of Chartered Accountants (ICAN) and qualified as a certified accountant in 2010, the same year I graduated from the university with a 4.16 CGPA. This launched my accounting career, and I have worked both in Accounting Practices and the Industry since 2010.
It was no surprise that in 2020 when a friend reached out to me asking for support on another of her friend’s start-ups that I excitedly offered to help. He needed help framing his pricing and profit model such that his business was tax efficient. Together, we consulted for him. That experience gave us the idea that there are a lot of businesses starting up that are not aware of the accounting and tax implications of owning a business. My friend and I decided that we could serve such enterprises and grow with them on their entrepreneurial journey by providing support in this area at a fraction of the cost of having an in-house financial controller.
That was the birth of Yetar!”
Introduce your company the way you would to a potential customer?
What do you know about Chief Financial Officers? Most start-ups and women-owned businesses do not have financial control as a dedicated role in their enterprises. Traditional Chief Financial Officers (CFOs) play a crucial role in managing a company’s financial health which encompasses financial planning, financial reporting, record keeping and compliance, and management of financial risks. Most companies only hire a CFO when they reach a certain size. However, our company’s founding belief is that the role of a CFO is not limited to large organizations. Small businesses can benefit tremendously from having a CFO.
This is where Yetar comes in. At Yetar Virtual CFOs, you can hire a virtual (part-time, online) CFO at a fraction of the cost of a traditional CFO. We measure, analyze, and evaluate the financial performance of our clients, essentially to identify trends in the company’s business model with the primary purpose to provide recommendations on processes to optimize performance and profitability. Our flexibility helps us apply a client-specific as well as an industry-specific approach to each client, optimizing the efficiency of their accounting, finances, and tax obligations according to the nature of their business.
Her love for numbers and her passion for interpreting numbers in simple terms for business owners and leaders at large keeps her motivated in this entrepreneurial journey. The most exciting thing about being an entrepreneur to her is having the opportunity to take an idea and inspire other people around me to contribute to that idea.
What’s been the most significant thing you’ve done to grow your business?
I have invested in more training to the extent of interning at an audit firm even though I had advanced in the industry. I knew humbling myself would help me learn from the grass root.
What entrepreneurial tricks have you discovered to keep you focused and productive in your day-to-day busy schedule?
Talking to my business mentor. Reconsider my priorities. Save time with better tools and software.
What key activities would you recommend entrepreneurs to invest their time in?
Find a Mentor!
On her journey so far in the High Growth Coaching Program
“It’s been educative, sometimes stressful however the end results encourage me to do more.
By the end of the 12 weeks, what would you like to have learned from the trainers and coaches?
Succeeding in my business to become a trainer myself.
Tell us about the legacy you want to leave in this world. What you would be remembered for?
I`ll love to be remembered as a life transformational coach who has helped many people achieve their goals and dreams. And to be mentioned each time people share their life journey stories.