Performance strategist Niyi Adesanya has warned business owners against measuring their companies’ success solely by the income they generate, arguing that regular evaluation is essential for long-term survival.
Adesanya believes businesses must examine their internal weaknesses and performance beyond their financial results if they hope to remain competitive and survive for decades.
“Your business must be evaluated regularly,” he said during an interview on the Masterminds podcast hosted by Richie Mensah.
He argued that some organisations focus heavily on revenue while overlooking other factors that could eventually threaten their survival.
“That’s the reason why we’ve not been able to build companies that last 50, 100 years, because we don’t pay attention to that,” he said.
Adesanya cited Nokia and BlackBerry as examples of companies that once commanded significant market value but subsequently lost their dominant positions.
He noted that Nokia had a market value exceeding $200 billion at its peak, while BlackBerry’s market value had exceeded $80 billion, yet both companies experienced major business declines.
His point was that financial success alone does not guarantee longevity, making it necessary for businesses to identify weaknesses and adapt before their problems become more difficult to address.
Adesanya recommended bringing in people who can independently assess a company’s operations, identify gaps and help leadership understand areas that require improvement.
He compared regular evaluation to detecting a problem early, arguing that weaknesses are easier to address before they grow into serious threats.
