Glory Enyinnaya, MBA, Founder at Kleos Advisory Africa
Let us get to know a successful entrepreneur Glory Ennyinnaya!
Notice: The positions, views and information contained published here are those of the interviewee and do not necessarily represent my views or opinions.
Glory Enyinnaya is a management consultant, author and international speaker. She
was named one of the Top 6 Best MBA Students in the World by the global Association of MBAs, and to be the first African to serve on the Governing Board of Beta Gamma Sigma, a global business honors society with a million members in 190 out of 195 countries worldwide. She
believes in the power of technology as a force for good, when applied at scale, and with skill, to improve quality of life (especially for the underserved) and build a better world. To this end, she founded Kleos Africa, which is Africa’s pioneer online consulting platform. glory is a Prosci-certified change manager who has led the implementation of complex technology solutions in blue-chip companies. She
writes regularly for Business Day, FATE Foundation and Harvard Business Review. She has co-authored two book chapters published by Routledge in 2019 and by IGI Global in 2021. She also teaches at Pan-Atlantic University’s Lagos Business School. She is currently studying for a PhD in Management.
In her spare time, she advises startups as a Regional Partner for Faster Capital. To know more: https://www.gloryenyinnaya.com/
Do you have some facts about female entrepreneurship in Nigeria?
Female entrepreneurship in Nigeria has been gaining significant momentum in recent years. Here are some key facts about female entrepreneurship in Nigeria:
1. Increasing Participation: Nigerian women have been actively involved in entrepreneurship, with a significant increase in their participation over the past decade. According to a survey by the Global Entrepreneurship Monitor (GEM), Nigeria has one of the highest rates of female entrepreneurship in the world.
2. Economic Contribution: Women-owned businesses contribute significantly to Nigeria's economy. It is estimated that women-owned enterprises make up about 41% of registered businesses in Nigeria, generating employment and contributing to the country's GDP.
3. Sector Diversity: Female entrepreneurs in Nigeria operate across a wide range of sectors, including agriculture, manufacturing, retail, services, technology, and creative industries. They have made notable contributions in sectors such as fashion, food processing, healthcare, education, and e-commerce.
4. Challenges and Resilience: Female entrepreneurs in Nigeria face various challenges, including limited access to finance, cultural biases and stereotypes, lack of mentorship and networking opportunities, inadequate infrastructure, and regulatory barriers. Despite these challenges, Nigerian women have demonstrated remarkable resilience and resourcefulness in building successful businesses.
5. Support and Empowerment Initiatives: Various initiatives have been launched to support and empower female entrepreneurs in Nigeria. Organizations such as the Tony Elumelu Foundation, WIMBIZ (Women in Management, Business, and Public Service), and She Leads Africa provide mentorship, training, funding, and networking opportunities to support women in business.
6. Tech-Driven Entrepreneurship: Women in Nigeria are leveraging technology and digital platforms to drive entrepreneurship. The rise of e-commerce and social media platforms has provided opportunities for women to start and grow businesses, especially in sectors like fashion, beauty, and online retail.
7. Government Policies and Initiatives: The Nigerian government has implemented policies and initiatives to promote women's entrepreneurship. For instance, the Central Bank of Nigeria launched the Micro, Small, and Medium Enterprises Development Fund (MSMEDF) to provide affordable financing to women entrepreneurs.
8. Recognition and Awards: Female entrepreneurs in Nigeria have gained recognition both locally and internationally. Several Nigerian women have received prestigious awards for their entrepreneurial achievements and have become role models for aspiring female entrepreneurs.
These facts highlight the significant role and potential of female entrepreneurship in Nigeria, as well as the challenges that women face, and the initiatives aimed at supporting and empowering them in their entrepreneurial journey.
How did you happen to become a female entrepreneur?
In 2016, during my time as an MBA student in Lagos Business School, I recognized the immense potential of Nigerian entrepreneurs and wanted to contribute to their success by providing them with specialized consulting services. Inspired by my vision, I embarked on a journey to establish my own boutique consulting firm, Kleos Advisory Africa.
My journey began with my extensive experience in the business consulting industry. I had worked with large corporations as a management consultant in Accenture and witnessed the impact that strategic advice and guidance could have on their growth and success. However, I realized that small business owners, who were the backbone of the Nigerian economy, often lacked access to the same level of expertise and resources.
Driven by a genuine passion for empowering entrepreneurs, I decided to channel my skills and knowledge into creating a consulting firm that catered specifically to the needs of small business owners in Nigeria. I believed that by providing tailored guidance, I could help them overcome challenges, unlock their potential, and thrive in the competitive business landscape.
The name "Kleos Advisory Africa" was carefully chosen to reflect my values and aspirations. "Kleos" is derived from Greek mythology and represents the concept of glory and renown achieved through noble accomplishments. I aimed to bring glory and recognition to the African continent by supporting and uplifting its entrepreneurs. The name is also eponymous as my name is Glory!
With determination and a clear vision, I set out to establish Kleos Advisory Africa. I assembled a team of talented and passionate professionals who shared my commitment to making a difference. Together, we developed a range of consulting services tailored to the specific needs of small businesses, including strategic planning, market research, financial analysis, and operational improvement.
One of the unique aspects of Kleos Advisory Africa is its deep understanding of the local business landscape and cultural nuances. My team and I recognize that successful consulting required more than just providing generic advice. We took the time to understand the challenges and opportunities faced by small business owners in Nigeria and tailored our solutions accordingly.
Through Kleos Advisory Africa, my team and I have been able to work closely with entrepreneurs, becoming trusted advisors and partners in their journey towards success. We not only provide valuable insights and strategies but also offer mentorship and support, helping business owners build confidence and resilience.
What did you struggle most with as a female entrepreneur?
As a female owner of a consulting firm in Nigeria, there are several potential challenges and struggles that I faced. Some of these include:
1. Overcoming Cultural and Societal Norms: Nigerian society has cultural norms and expectations that can impact women's ability to run a business. These norms may include traditional gender roles, societal pressures, or biases that affect how women are perceived in leadership positions. Female owners of consulting firms may need to navigate and challenge these norms to assert their authority and credibility.
2. Competition in the Market: The consulting industry can be highly competitive, and female owners of consulting firms may face additional scrutiny or competition based on their gender. Overcoming these challenges requires demonstrating expertise, building a strong reputation, and consistently delivering high-quality services.
While these challenges exist, it's important to note that through resilience, strategic planning, building strong networks, and leveraging their unique strengths, women such as myself can thrive as owners of consulting firms and make a lasting impact in the industry.
What are two things that helped you in your journey?
Two key success factors for me in my journey are:
1. Building Strong Support Networks: Building a strong support network was essential for me. This included cultivating relationships with mentors, peers, and other professionals who could provide guidance, support, and valuable connections. Networking events, industry associations, and entrepreneurship programs specifically designed for women were great platforms to meet like-minded individuals and establish meaningful connections. A strong support network offers emotional support, access to resources and opportunities, and a platform for learning from the experiences of others.
2. Developing Confidence and Resilience: Confidence and resilience are crucial traits for female entrepreneurs. Building confidence involves believing in one's abilities, taking calculated risks, and being willing to step out of comfort zones. Female entrepreneurs like me may face unique challenges and biases, and developing resilience enables us to bounce back from setbacks, overcome obstacles, and persevere in the face of adversity. Cultivating confidence and resilience can be achieved through continuous learning, seeking out mentorship and role models, celebrating small wins, and embracing a growth mindset.
By leveraging these key success factors, female entrepreneurs can enhance their entrepreneurial journey, overcome challenges, and position themselves for long-term success. Additionally, these factors can contribute to the growth and empowerment of other women in entrepreneurship, fostering a supportive ecosystem for female-led businesses.
You studied and you are studying a lot. To you, is it a requirement for female entrepreneurship?
Even though I have an MBA (Master of Business Administration) and I’m studying for a PhD in Management, these degrees are not a requirement for female entrepreneurship or entrepreneurship in general. While advanced degrees like an MBA or a PhD can provide valuable knowledge and skills in areas such as business administration, management, and strategy, they are not mandatory for starting or running a successful business.
Entrepreneurship is primarily driven by an individual's vision, creativity, problem-solving abilities, and determination. Many successful entrepreneurs, both male and female, have built thriving businesses without holding advanced degrees. What matters most is the ability to identify opportunities, develop innovative solutions, adapt to market dynamics, and execute effectively.
That being said, pursuing higher education in business or management can offer certain advantages for entrepreneurs. My MBA program, for example, provided me with a comprehensive understanding of various business functions, strategic thinking, financial analysis, and leadership skills. It also offered valuable networking opportunities and access to resources that were beneficial for starting and growing my business.
Similarly, my PhD in Management provided me with in-depth knowledge and research expertise, which were particularly relevant for me as an entrepreneur engaged in the consulting industry which requires specialized industry knowledge.
Ultimately, the decision to pursue an MBA, PhD, or any other educational qualification should be based on an individual's personal goals, aspirations, and the specific needs of their entrepreneurial venture. It's important to recognize that successful entrepreneurship is a combination of skills, experiences, mindset, and continuous learning, and formal education is just one aspect of that equation.
What’s your top advice to become a successful female entrepreneur in Nigeria?
My top advice to become a successful female entrepreneur in Nigeria is as follows:
1. Define Your Vision and Set Clear Goals: Start by defining your vision for your business and identifying your long-term goals. Understand what you want to achieve and where you want to take your entrepreneurial venture. Setting clear, specific, and achievable goals will provide you with a roadmap and direction, helping you stay focused and motivated throughout your journey.
2. Cultivate a Growth Mindset: Embrace a growth mindset, which involves believing in your ability to learn, grow, and adapt. View challenges as opportunities for learning and improvement rather than setbacks. Stay open to feedback, continuously seek knowledge, and be willing to step out of your comfort zone to acquire new skills and experiences. A growth mindset will enable you to navigate obstacles, seize opportunities, and evolve as an entrepreneur.
3. Build a Strong Support Network: Surround yourself with a strong support network of mentors, advisors, peers, and like-minded individuals who can provide guidance, support, and valuable insights. Seek out networking opportunities, join industry associations, and engage with entrepreneurship communities. Collaborate with others, share knowledge, and learn from their experiences. Having a supportive network can provide emotional support, offer different perspectives, and open doors to new opportunities.
4. Develop Strategic Partnerships: Identify potential strategic partnerships and collaborations that can benefit your business. Look for complementary businesses or individuals who share similar target markets or goals. Collaborating with others can help expand your reach, share resources, and leverage each other's strengths. Strategic partnerships can lead to new business opportunities, increased visibility, and shared expertise.
5. Focus on Continuous Learning: Commit yourself to lifelong learning and personal development. Stay updated with industry trends, market dynamics, and emerging technologies. Attend workshops, seminars, and conferences related to your field. Seek out relevant courses or certifications that can enhance your skills and knowledge. Continuous learning will ensure that you stay ahead of the curve, innovate within your industry, and adapt to changing market conditions.
6. Embrace Resilience and Perseverance: Entrepreneurship is a journey filled with ups and downs. Embrace resilience and perseverance as essential qualities. Learn from failures and setbacks, and use them as stepping stones to grow and improve. Stay persistent, maintain your focus, and don't let obstacles deter you from your goals. Resilience will help you overcome challenges, bounce back stronger, and keep moving forward.
Remember, becoming a successful female entrepreneur in Nigeria requires a combination of hard work, strategic thinking, resilience, continuous learning, and building strong relationships. Stay true to your vision, believe in your abilities, and be willing to adapt and evolve as you navigate the entrepreneurial landscape.
