Get Guardian on GoogleAdesomoju tasks entrepreneurs on building businesses that outlive founders
Entrepreneurs have been urged to prioritise responsible leadership, strong governance, succession planning and financial discipline to build businesses that can survive beyond their founders.
The call was made at the fourth edition of the annual entrepreneurship and business development conference, Time Out With Kate 4.0, convened by the Managing Director and Chief Executive Officer of Spectrum Holdings, Catherine Adesomoju, popularly known as Sister Kate.
The conference, themed “Building Transgenerational Businesses 4.0,” challenged business owners to look beyond immediate profits and focus on building sustainable institutions capable of creating wealth and delivering value across generations.
Adesomoju, an evangelist, entrepreneur and author, stressed the need for entrepreneurs to embrace accountability, discipline, continuous learning and the courage to make difficult decisions, noting that business ownership comes with responsibilities beyond the accumulation of wealth.
She emphasised that lasting enterprises must be built on strong systems, capable people and enduring values rather than the personal influence of their founders.
According to the conference organisers, seven pillars are critical to building a culture of ownership: vision, focus, discipline, learning, courage, integrity and value.
The conference also extended the ownership conversation beyond entrepreneurs, highlighting the responsibilities of employers, employees, government institutions and communities in building sustainable businesses and stronger institutions.
Employers were encouraged to create opportunities and build organisations that can withstand leadership transitions, while employees were urged to invest in professional development and demonstrate personal accountability.
Government institutions, in turn, were challenged to embrace responsible leadership and fulfil public commitments, while communities were encouraged to promote collective responsibility and shared progress.
The conference underscored the need for Nigerian businesses to move away from founder-dependent structures towards professionally managed organisations with effective governance, innovative practices and transferable systems.
It also highlighted the importance of entrepreneurship education, mentorship, leadership development and succession planning in preparing businesses to navigate economic uncertainties and remain competitive over time.
Since its debut in 2023, Time Out With Kate has sought to encourage purposeful leadership, entrepreneurship development and long-term wealth creation.
The fourth edition was powered by His Presence Foundation, with sponsorship support from itel Energy, Oraimo and Spectrum Innovation Technologies Limited.
Adesomoju, who holds an honorary doctorate in Corporate Leadership and Entrepreneurship Management, is a Fellow of the Institute of Business Administration and Knowledge Management (FIBAKM), as well as an alumna of Lagos Business School and Harvard Business School’s Owner/President Management Programme.
The central message of the conference was that sustainable business ownership goes beyond what individuals accumulate to encompass the value they create, the people they develop and the institutions they leave behind.
As Nigeria seeks to strengthen its entrepreneurial ecosystem, the conference stressed that building businesses capable of surviving their founders will require a deliberate commitment to integrity, sound leadership and systems that can be sustained across generations.
