From the bustling accounts of BBC in Ealing to the helm of Rapid Business Management, Michael Olatunde’s career encapsulates the dynamic nature of the financial services industry.
Celebrating a quarter-century in the field, Olatunde’s journey began with an economics degree and a role at MedAS (Media Accountancy Services), a joint venture between PwC and EDS, where he cut his teeth on reconciliations and the nascent SAP system.
Instead, Olatunde found his niche in mortgage brokering, a profession aligning with his engaging personality and natural flair. His ascent was rapid; within two years at Countrywide, he was among the top 10% of brokers nationwide. His success caught the eye of Linear Financial Services, where he thrived in a commission-only environment, leveraging his ability to self-generate leads. “I was able to build up my own client bank,” he reflects, a skill that propelled him to the top three brokers within the company.
The financial crisis of 2008 was a turning point, as the market crash coincided with Olatunde’s venture into property investment and the establishment of his brokerage. The tumultuous period forced a reevaluation of his career and life, leading to a stint in Frankfurt with the deVere Group, advising expatriates on investment products. Yet, the pull of family and the desire for a more fulfilling life brought him back to the UK, where he founded Rapid Business Finance.
As a seasoned professional with over two decades of experience, Olatunde’s passion lies in helping others navigate the complexities of financial services. “We’re happy to assist everybody,” he states, emphasising his commitment to supporting businesses regardless of their circumstances. It’s this dedication and expertise that have solidified Michael Olatunde’s reputation as a guiding force in the world of finance.
Mastering Turbulence
Michael’s narrative is not just about surviving the tumultuous markets but also about the empathy and compassion that fuelled his determination. “It’s hard to do it,” he admits, reflecting on the challenges he and his peers faced when the markets turned sour. The financial crises that led many to leave the industry, and the investors who couldn’t refinance their properties, some even facing repossession, are stark reminders of the volatility of the business world.
Olatunde’s response to these hardships was not just to endure but to actively seek solutions. “I’ve got mouths to feed. Behind every business, there’s normally a family,” he says, highlighting the personal stakes involved.
The COVID-19 pandemic brought unprecedented challenges, but Olatunde saw it as an opportunity to be at the “cutting edge of servicing clients.” He speaks proudly of the role his firm played in navigating the sea of financial aid, such as the Coronavirus Business Interruption Loan Scheme and the Recovery Loan Scheme. Michael also had the previous experiences that helped, “when the pandemic hit, it reminded me of how I got through the financial crises.”
Yet, beyond the immediate response to a crisis, Olatunde identifies a deeper issue: the gap in financial education. He laments the lack of practical financial skills taught in schools, contrasting the impracticality of trigonometry and calculus with the essential nature of understanding budgets, profit and loss, cash flow forecasts, and managing debtors and creditors. “These are fundamental life skills,” he asserts, underscoring the importance of equipping individuals with the knowledge to navigate financial landscapes confidently.
The Evolution of Leadership
Michael Olatunde’s leadership style has undergone a significant transformation, shaped by experiences and introspection. He emphasises the importance of responsibility in leadership, recognising that the buck stops with him when it comes to hiring decisions and their outcomes. “True leaders can honestly self-assess their good, their bad, and their ugly,” he states.
A key trait Olatunde has nurtured over time is the ability to listen and empower others. He believes in giving people positions of responsibility and valuing their on-the-ground insights. This shift to an authentic listening leadership style has allowed for a more inclusive and dynamic work environment, fostering continual improvement—a concept he admires from the Japanese philosophy of Kaizen.
Olatunde’s journey also includes embracing humility and the understanding that leadership is an evolving process. “I’m better now than I was yesterday, but I’m not as good as I’ll be tomorrow,” he muses, highlighting the perpetual growth mindset he maintains. This evolution has led him to appreciate the non-material aspects of life and business, such as the importance of building a team and making a profit in a way that is meaningful and enjoyable for both himself and his team.
Moreover, Olatunde discusses the integration of spiritual growth with business acumen. Through therapy and self-reflection, he has gained insights into his reactions and behaviours, which have, in turn, made him a better person in business. In essence, Michael has learned to value principles over profit and to lead with a sense of self-awareness and openness to continual growth.
Vision and Legacy: The Journey of Michael Olatunde
In concluding remarks, Michael goes into his vision for the future and the legacy he aspires to leave behind. His journey is not just about building a successful business; it’s about creating a positive impact that transcends borders.
Olatunde explains the expansion of his team in Ghana. This venture is more than just business growth; it’s about providing opportunities in a place where “there is no welfare system,” where “amazingly talented graduates” are left without work despite their skills and eagerness to learn.
Michael speaks of a deeper satisfaction that comes from focusing on others’ outcomes. “It’s far more fulfilling,” he admits, revealing a shift in perspective from acquiring material wealth to enriching lives. As he looks ahead, Michael’s legacy is shaping up to be one of empowerment and shared prosperity. “I would like my legacy to provide good employment both here and abroad,” he states, envisioning a win-win scenario where when “the clients win, I win.”
In a candid moment, Michael shares his personal transformation which reflects this new perspective, from chasing status symbols to finding meaning in helping others. “I got all those things and I still found myself quite empty,” he confesses. Now, his daily affirmations focus on how many people he can help.
Michael Olatunde’s story is one of growth, not just in business, but in character and purpose. His legacy, as he envisions it, will show the power of redefining success to include the well-being and advancement of others, both in the UK and abroad It’s a legacy that promises to continue long after the numbers have been tallied, in the lives of those he has touched and the communities he has helped to build.
