Níyó Enterprise is a multi-faceted socio-creative organisation that prides itself in using innovative creative tools to economically empower BAME young women aged 16-25 to create phenomenal, sustainable talent-driven social enterprises.
Níyó enterprise is currently made up of two brands: Níyó Hair & Níyó Network led by the Co Founders Oyin Adebayo and Laolu Dada
When the Niyo Co Founders first began working with She’s the Boss, they were in the very early stages of business. They lacked clarity on the direction they wanted to take the business, who their core target demographic was or how to determine the feasibility of the many ideas they had. They had two very distinct areas of the business but were not clear on the right business model. As a social enterprise, they struggled with managing their social output whilst achieving consistent revenues.
The first step in the intervention was the development of a 3 year strategic vision for the business. The Co Founders were able to gain real clarity on what they wanted to achieve personally and how those personal goals aligned with what they envisioned for the business.
It was recognised that the social element of the business was taking precedence over the revenue generation. We carried out several sessions focused on identification of key growth strategies that would enable them to continue to achieve their social outputs, whilst also generating commercial and sustainable revenues. The business was split into two sub brands Niyo Hair and Beauty and Niyo Networks with distinct goals and value propositions. An MVP for an app has been developed for Niyo Hair and Beauty, with a major project launched under Niyo Networks (Black CodHer).
Customer persona development and market research strategies were executed to craft compelling value propositions and to refine the business model. These were used to inform a marketing plan which the company used to raise awareness of their services, engage with the right customer segments and win new business.
Niyo Enterprise cashflow forecast was four months old at the start of the intervention and had not been revisited. Once the services and products had been clarified, a new cashflow forecast was created. New financial reporting procedures were also implemented to ensure regular financial reviews became mandatory.
In order to execute the new business direction, having systems and processes in place was imperative. The overall structure of the business was mapped out along with all of the key functional areas which were then used to map out the systems and processes. This formed the outline of the operations manual which will be used by all staff members moving forward. This will help increase efficiencies, maintain quality and enforce the Niyo Enterprise ethos and methods.
Niyo Enterprise now have a clear strategy and defined vision. They understand the financial metrics of their business and how to price their products and services accordingly. They are clear on what is and is not profitable for the business and how to select new business ideas based on this understanding. They have systems and processes in place to help them scale their business and understand how best to communicate with their target customers.
6 figure growth
Growth of team from 2 to 5
Launch of BlackCodHer
Launch of several hair and beauty products