In the dynamic realm of entrepreneurship, individuals like Afiya Titus stand out as beacons of innovation and empowerment. As the co-founder of Coco Financial, Afiya has embarked on a journey fuelled by passion, purpose, and a relentless commitment to supporting early-stage micro businesses. With a background in finance and a detour into street food entrepreneurship, Afiya’s story is as unconventional as it is inspiring.
In this blog, we delve into Afiya’s entrepreneurial journey, exploring her motivations, milestones, and invaluable insights for aspiring founders. Join us as we uncover the transformative impact of Afiya Titus and Coco Financial in the world of business.
Coco Financial serves as a dedicated business finance concierge, offering vital support to early-stage micro businesses as they navigate the intricacies of accounting, tax obligations, and financial strategy.
My journey to founding Coco Financial stemmed from my background in finance, which I initially pursued before venturing into the vibrant world of street food entrepreneurship. While immersed in the exhilarating experience of running a street food business, I encountered numerous remarkable female founders, often from underrepresented backgrounds. Despite their immense passion for their ventures, many of these entrepreneurs struggled with confidence when it came to managing their finances.
Drawing upon my innate understanding of finance, I recognised an opportunity to empower these micro-businesses and help them thrive. Thus, Coco Financial was born, driven by the desire to leverage my expertise and support as many entrepreneurs as possible on their path to success.
Upon completing my studies at UCL, I embarked on the Deloitte graduate scheme, ultimately earning my certification as a chartered accountant specialising in audit. However, I took a dramatic turn that surprised both my parents and friends when I decided to leave the corporate finance world behind and delve into the realm of street food entrepreneurship. Transitioning from boardrooms to market stalls, I embraced this newfound opportunity with enthusiasm.
It was during my time running the street food business that I recognised a pressing need within the entrepreneurial community. This realisation served as the catalyst I needed for the creation of my second venture, Coco Financial. Today, Coco Financial stands as my primary business, a source of immense pride and accomplishment.
The primary obstacles I faced revolved around personal growth and team building. Initially, as a self-professed perfectionist, I quickly realised that this mindset hindered rather than facilitated progress in the entrepreneurial sphere.
Transitioning from a mindset of perfectionism to one that embraced failure as a necessary component of growth required a significant rewiring of my thought processes. I came to understand that the key to business advancement was not to be perfect, but in learning from mistakes and moving forward.
Additionally, one of the greatest challenges I encountered was the task of assembling a team of skilled and dependable individuals. In the early stages of building a business, wearing multiple hats is unavoidable.
However, as the business grows, the need for specialised expertise becomes apparent. Delegating responsibilities and relinquishing control to others while maintaining the quality standards I had set proved to be a delicate balancing act. Finding individuals who not only possess the necessary skills but also align with the company’s values and vision is paramount. Indeed, securing quality hires is arguably the most critical aspect of business expansion, yet it is also fraught with challenges.
Looking back, I realise that understanding the synergy between passion and purpose is pivotal. It’s a realisation that dispels fear and assures that financial success will naturally follow.
While entrepreneurship may not promise the stability of a traditional career with a fixed monthly salary, I’ve learned that when passion and purpose align, financial rewards inevitably ensue.
In hindsight, I wish I had embraced this truth sooner and embarked on my entrepreneurial journey earlier. Despite its challenges, the exponential growth and fulfilment that come with entrepreneurship resonate deeply with me. It’s a path not suited for everyone, but for me, it’s undeniably the right one.
I consider the first milestone in my journey to be the moment before I left my corporate job to focus on my street food business as a side venture. It was a pivotal moment when one of the partners at my workplace provided unwavering support and encouragement. In a surprising turn of events, he urged me to take a sabbatical leave, assuring me that I would be remiss not to give my business my all. His belief in my potential, coupled with the promise of job security if things didn’t pan out, instilled a newfound confidence in me. This recognition from a corporate environment, which one might not typically associate with endorsing entrepreneurship, was a significant catalyst for me to take the plunge.
As I delved deeper into the world of street food, further recognition followed. Being awarded the title of the best veggie and vegan lunch option in Soho was an incredibly rewarding moment. Additionally, collaborating with renowned brands such as Nike, Apple, and River Island added to the sense of accomplishment. It was humbling to see a small micro business like mine engage with these household names on a professional level.
Transitioning to Coco Financial, I’ve found that passion meets purpose in every aspect of our work. Perhaps the most significant milestone for me has been realising the positive impact we’ve had on over 1000 micro businesses thus far. Empowering these ventures with confidence to navigate their journeys, particularly those led by women, aligns perfectly with our values and mission. It’s a testament to the meaningful work we’re doing and reinforces our commitment to making a difference in the entrepreneurial community.
Establishing structure as an entrepreneur presents its challenges, primarily because each day unfolds uniquely. Yet, therein lies the beauty of entrepreneurship — its dynamic nature. Despite the unpredictability, it remains vital to prioritise personal well-being and connections. I often remind myself that, unlike a brain surgeon, the emergencies I face in Coco Financial or Lime Hut are manageable.
Understanding this perspective allows me to maintain a healthy work-life balance. Integrating personal structure into my routine not only enhances my enjoyment outside of work but also contributes to my growth and development as an entrepreneur. It’s an ongoing learning process, and I continue to refine this balance to foster a fulfilling life both professionally and personally.
When I embarked on my entrepreneurial path, I was fortunate to receive invaluable guidance and support from those who had walked the same road before me. Therefore, I encourage you to seek out mentors who are ahead in their journey and leverage their expertise to propel yourself forward. However, it’s equally important to reciprocate this kindness by supporting those who are following in your footsteps. Our networks play a crucial role in our success, and by nurturing and contributing to them, we cultivate a culture of mutual growth and support within the entrepreneurial community.
