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Rainoil GMD advises entrepreneurs on funding
At the 2023 edition of The Platform Nigeria, Gabriel Ogbechie, the Group Managing Director of RainOil, shared insights on how entrepreneurs can succeed in Nigeria.
He advised entrepreneurs to have relevant knowledge of the business they want to venture into, as this knowledge serves as a defense for their capital.
He emphasized that it is important to start from an informed position, as starting from an uninformed position could lead to learning the hard way and loss of capital. Ogbechie also advised entrepreneurs to maintain financial discipline and protect their liquidity by staying on the short end of borrowing.
He stated that turnover is vanity, profit is sanity, and cash is king, and urged entrepreneurs to keep their earnings in their businesses, borrow minimally, and practice spending within the limits of their profit.
source;The punch
link;https://punchng.com/rainoil-gmd-advises-entrepreneurs-on-funding/
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