Folajomi Adegbulugbe’s story is one of remarkable resilience, decisive action, and the kind of business insight that can only be gained through real-life experience. His journey in the property management industry, as a co-founder and CEO of The Hive Incubator, has been shaped by tough decisions, hard lessons, and a steadfast commitment to growth. In a recent LinkedIn post, Folajomi Adegbulugbe shared a critical moment in his business evolution the moment when he made the bold decision to fire his first clients. It was a move that, at the time, seemed risky but ultimately turned out to be one of the best decisions for his business.
Folajomi Adegbulugbe’s company, 93 Property Management, began with a clear mission: to help property owners maximize returns through expert management and short-let business setups. The initial phase was filled with excitement and ambition. Folajomi Adegbulugbe didn’t have a large portfolio to show off, but what he did have was a solid business model, an unwavering vision, and a determination to make it work. Yet, like many entrepreneurs, he quickly learned that having clients is not always synonymous with having the right clients.
In his post, Folajomi Adegbulugbe describes the early days of working with property owners who didn’t understand the value of expert management or the effort required to turn their properties into profitable assets. The clients were demanding unreasonable expectations, from premium renovations at no additional cost to the desire for guaranteed income regardless of bookings. One of the most striking aspects of his narrative is the realization that these clients weren’t partnerships they were liabilities. Folajomi Adegbulugbe had stretched himself thin, trying to satisfy their unrealistic demands, but it became clear that continuing down this path would not lead to the success he envisioned.
This moment of clarity led to Folajomi Adegbulugbe’s game-changing decision: to fire those first clients. He acknowledges that walking away from the deals wasn’t an easy choice, especially since it meant starting over. However, he reflects on it as the best decision he ever made. By shedding the dead weight of clients who didn’t respect his business or its processes, Folajomi Adegbulugbe was able to make space for the right clients those who understood the value of expert property management and were willing to respect the structure he had in place. The shift in clientele allowed his business to grow in ways it hadn’t before.
The lesson that Folajomi Adegbulugbe imparts in his post is a crucial one for anyone in business: not every client is worth keeping. In fact, some clients can be more harmful than helpful, draining your time, energy, and resources without providing any real value in return. For Folajomi Adegbulugbe, this realization was key to protecting his business. He set boundaries, and when those boundaries were repeatedly crossed, he took action. This decision to protect the integrity of his business by walking away from bad clients wasn’t just an act of courage it was an act of strategic vision.
As Folajomi Adegbulugbe’s story unfolds, it becomes clear that setting and maintaining boundaries is non-negotiable in business. When clients push beyond the limits of what is reasonable or ethical, it can spell trouble for both the business owner and the organization. Folajomi Adegbulugbe understood this, and by standing firm, he was able to foster an environment where respect, mutual understanding, and trust could flourish. This not only ensured the sustainability of his business but also attracted a more aligned and cooperative clientele.
The moment Folajomi Adegbulugbe decided to fire those first clients, he made a bold statement not just to those clients, but to himself and his business. Walking away, as he points out, is not a form of losing; it is an essential step in making space for better opportunities. By releasing himself from the burden of unproductive relationships, Folajomi Adegbulugbe positioned his business for long-term success and growth.
Many entrepreneurs, particularly in the early stages of their businesses, fear turning down clients or letting go of those who seem to bring in revenue. There’s a prevailing belief that you should never say no to money, but Folajomi Adegbulugbe challenges that notion. As he wisely states, “Bad money is expensive.” Clients who are constantly demanding more than they’re willing to give not only drain resources but also consume valuable time and energy that could be better spent elsewhere.
Folajomi Adegbulugbe’s decision to walk away from bad clients serves as a powerful reminder of the importance of value-driven partnerships. It encourages entrepreneurs to stand firm in their vision and protect the integrity of their business, even when it feels like a difficult or risky choice. In the long run, the right clients will recognize the worth of your services and contribute to your business’s growth in meaningful ways.
Through his experience, Folajomi Adegbulugbe teaches us all a critical business lesson: It’s not enough to have clients. It’s about having the right clients those who respect your vision, your work, and your boundaries. When you prioritize quality over quantity, success becomes inevitable. In the words of Folajomi Adegbulugbe, “Walking away isn’t losing, it’s making space for better opportunities.”
As entrepreneurs, we must remember that every decision we make whether it’s taking on a client or walking away from one has a direct impact on the future of our businesses. Folajomi Adegbulugbe’s story offers a valuable reminder that sometimes, the best way forward is to step back, reassess, and make room for what truly matters.
