"My passion for giving back and empowering young women stems from a deep belief in the potential that lies within each of us." - Morenike Molehin

MORENIKE MOLEHIN is the Founder and Chief Executive Officer of the award-winning Oak and Teak Interiors , arguably one of the fastest-growing interior design companies in Africa. Over a period of ten years, Morenike has successfully positioned the company as a leading interior design company with expertise in delivering on the most complex design projects including five-star hotels.

Through her focused leadership, the company has continuously expanded within and beyond the shores of Nigeria by delivering world-class services to clients in Dubai, Rwanda, and Ghana. Morenike recently led her team to set up operations United States to cater to the global demand for her services.

As a testament to her entrepreneurial leadership, her company emerged as the winner of an international award for Best Luxury Residential Interior Design Company in Nigeria in 2022.Beyond her business endeavors,

‘Renny’, as she is often referred to, is the organizer of ‘Grow with Renny’ (GWR), a free mentorship initiative through which she grooms and mentors pre-selected young ladies across various spheres of life including spirituality, business, career, marriage, relationship, among others. Given the high demand to participate in the GWR mentorship program, Renny hosted a thousand in-person participants at the maiden edition of the GWR Conference in Victoria Island Lagos.

As part of her continuous contribution to nation-building, she set up The Oak and Teak Foundation , an NGO through which she executes strategic corporate social responsibility initiatives. She is particularly passionate about providing relevant interventions in the areas of education and health care. To this end, the Foundation has carried out multi-million-naira interventions for various dilapidated hospitals and schools in Nigeria. Her educational background involves two degrees in Mathematics – a first degree in Industrial Mathematics from Covenant University and a second degree in Financial Mathematics and Computation from the University of Leicester, United Kingdom.

Morenike has received entrepreneurial nominations and awards and is a frequent speaker at entrepreneurship and empowerment seminars. She has been happily married for twelve years to her best friend, Yomi Molehin, and they are blessed with two daughters.

Tell us a little bit about your background.

I grew up in a loving, supportive, and all-around positive environment, with my parents providing all the support I needed to succeed.?

That said, I pursued a first degree in industrial mathematics and later went on to get a Master’s degree in financial mathematics. My initial career plan was to work in the financial industry, but after a brief internship, I realized that it wasn't the right fit for me. I then transitioned into the operations management role at an agro-allied company, where I started my interior design business on the side.

Balancing both my job and my business for about four years, I eventually made the decision to leave my paid employment in January 2017 to focus on scaling my interior design business, Oak and Teak Interiors. This journey has been incredibly rewarding, and I've learned a lot along the way about entrepreneurship, leadership, and personal growth.

In addition to my professional journey, I am deeply passionate about people, mentorship, and community development. I established The Oak and Teak Foundation, a non-profit organization dedicated to making a difference through education and healthcare initiatives. I also founded the “Grow with Renny”, which is focused on empowering young people, especially women in various aspects of life.?

Overall, my background in mathematics, coupled with my entrepreneurial journey and passion for mentorship and community development, has shaped me into the person I am today.

My background in mathematics might seem far removed from the world of design and social impact, but it instilled in me a strong analytical mind and problem-solving skills – which are vital in any endeavor. This, coupled with my entrepreneurial spirit and dedication to giving back, has shaped me into the individual I am today.

You’ve successfully built a thriving business which has expanded beyond the shores of Nigeria, what are some strategies for growth you can share for business owners?

Building a thriving business that transcends borders requires a strategic approach and a deep understanding of market dynamics. One crucial strategy is conducting comprehensive market research to identify opportunities and tailor offerings to meet specific customer needs. From individual homes to corporate spaces and offices, we always ensure that we provide exactly what each client needs.?

Establishing a strong digital presence is very important in today's digital age. A robust online presence through social media and website has helped us significantly at Oak and Teak Interiors to expand reach, demonstrate what we can do, and attract new customers. Businesses need to get online and leverage digital tools to reach new markets. It doesn’t matter what part of the world you are in, you may have clients thousands of miles away who can access your products and services through technology.??

Customer focus is also very critical. It’s one thing to have a good product/service but if you are not prioritizing customer satisfaction, you may be losing access to repeat and new customers. For me, building long-term relationships that drive repeat business and generate positive referrals is critical.?

Forming strategic partnerships can also accelerate growth. Collaborating with complementary businesses or entering into strategic alliances can unlock new opportunities and expand market reach.?

Sound financial management is crucial for sustainable growth. Monitoring cash flow, managing expenses to keep costs low, and investing wisely are essential for long-term success. You also need to invest in yourself and your business to see the level of growth you want. People usually hesitate to invest in branding, marketing, and technology but these things are crucial to your growth.?

Lastly, you need to invest in your workforce. A skilled and motivated workforce can drive innovation, ensure the flexibility of your business to adapt quickly, and propel your business to the next stage.??

Tell us about your passion for giving back and mentoring young ladies from diverse backgrounds through “Grow with Renny”

My passion for giving back and empowering young women stems from a deep belief in the potential that lies within each of us.? Having diverse backgrounds is a strength, not a limitation, and "Grow with Renny" was born out of my desire to help young women unlock their full potential and thrive in whatever path they choose.

Through the program, I act as a mentor, providing guidance and support in various aspects of life. This can range from academic guidance and career advice to fostering self-confidence and navigating personal challenges.? The program is designed to be a safe space where these young women can ask questions, share their dreams, and learn from each other's experiences.

What truly excites me is witnessing the spark ignite within them. When a young woman gains clarity on her goals, overcomes a hurdle, or discovers a hidden strength, it's incredibly rewarding. It's about creating a ripple effect, where these empowered young women go on to inspire and uplift others in their own communities.

"Grow with Renny" is more than just a mentorship program; it's about providing the much-needed support and celebrating the unique journeys of each young woman. It's an investment in the future, where a diverse generation of women leaders can rise and make a significant impact on the world.

Can you share any specific lessons or insights you've learned from your mentors that have had a significant impact on your approach to entrepreneurship and leadership?

Throughout my entrepreneurial journey, I've been fortunate to have incredible mentors who have shared invaluable wisdom. One of the most impactful lessons I've learned is the importance of having a clear vision and strategy for my business. My mentors have taught me that a well-defined vision serves as a guiding light, helping me stay focused and motivated even in the face of challenges. At the start of every year, I take the time to plan and define my goals personally and for my business as well. This helps me stay focused all year, and even when I fall off, I can revisit my plans and get back on track.?

Continuous learning and improvement have also been key themes in my mentorship journey. My mentors have encouraged me to seek out new knowledge and skills, stay informed about industry trends, and constantly strive for excellence in all that I do. They've shown me that entrepreneurship is a journey of growth and development and that embracing a mindset of lifelong learning is essential for success.

Another important lesson that has been instilled in me is the importance of taking calculated risks.? Careful planning is crucial, but you also have to learn to take leaps of faith. I have learned to analyse risks thoroughly, understand the potential downsides, and then have the courage to move forward with a well-defined plan B. This approach has empowered me to make strategic decisions that have propelled my business forward.

Finally, ethical leadership is a principle that my mentors have instilled in me from the very beginning. They've taught me that integrity, honesty, and respect are non-negotiable in business, and that ethical leadership not only builds trust with customers and employees but also lays the foundation for long-term success.

By embracing all these lessons from my mentors, I've been able to navigate the challenges of entrepreneurship, become a better leader, and drive continued growth in my business. I am incredibly grateful for their support and guidance.?

How do you see your business evolving over the next decade, as well as your leadership advancement?

Over the next decade, I envision my business, Oak and Teak Interiors, continuing to grow and expand its reach both geographically and in terms of the services we offer. I see us solidifying our presence in the markets we currently operate in, while also entering new markets and diversifying our offerings.

One of the key areas of growth I foresee is in the area of sustainability. As awareness of environmental issues grows, I believe there will be an increased demand for sustainable interior design solutions. I see us leading the way in this area, incorporating sustainable practices into our business operations, and offering eco-friendly design options and products to our clients.

In terms of leadership advancement, I see myself taking on a more strategic role within the company, focusing on long-term planning and growth strategies. I also see myself continuing to mentor and develop the next generation of leaders within the organization, empowering them to take on greater responsibilities and contribute to the overall success of the business.

Overall, I am excited about the future of Oak and Teak Interiors and the opportunities that lie ahead. I am confident that with the right strategy and a dedicated team, we will continue to grow and thrive in the years to come.

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