According to Claude Grunitzky, a renowned International media entrepreneur, regardless of your enterprise notion, the entrepreneur will have to question him or herself, “what is the one necessary and adequate ailment for a business enterprise?”
It is not a product or service, a technological know-how, a shopper need, a business program, a eyesight, a powerful team, traders, or competitive benefit. Though all individuals items are significant for a firm to have, none of them is the appropriate answer.
The solitary needed and ample affliction for a company is a paying customer – the particular person who will pay your firm dollars for its product or service or support.
Just before any fantastic business enterprise system is hatched, the first thing that arrives to brain is the concentrate on client.
Ironically, in our environment, some consumers can collapse a company of the young entrepreneur by means of their self-looking for gains, with the assistance of some careless, self-looking for or shorter-sighted employees engaged by an entrepreneur.
Just about every entrepreneur would want to succeed in business, but regrettably, greed can push some to orchestrate to provide down colleague business people in their quest to triumph at all price tag.
The explanation why most Ghanaian companies really don’t endure is as a outcome of these issues – absence of integrity, dishonesty, inadequate setting up and self-centeredness, which have eaten deep into our moral fiber.
There have been various tries by political or organization leaders geared toward encouraging Ghanaians to think of possessing their very own business enterprise. Examples are the Presidential Pitch, McDan Entrepreneurship Obstacle and so forth., plus a total Ministry set up to thrust this agenda.
Nevertheless, quite a few start out-ups are also confronted with various issues ranging from funds circulation administration, time management, cash and many others.
But in my perspective, a person of the most difficult worries in entrepreneurship particularly in the Ghanaian modern society, is obtaining the proper staff, especially for business owners who are engaged completely in their professions, but deal with a business enterprise on the side.
Apart from entry to money which is unquestionably a challenging hurdle most start-ups are confronted with, the following large hurdle as I pointed out earlier is the quest to have the suitable personnel. Most of staff these times, especially the youth, have distinctive motivations for do the job, and have become self-looking for.
For this cause, they can effortlessly abandon the organization or stifle it from expanding.
A ‘Side-Entrepreneur’ friend’s practical experience
A friend who works with 1 of the federal government agencies shared his bitter experience of his failed aspect small business with me. He began his ‘Iced Kenkey’ enterprise and utilized a handful of people to manage it.
Whilst he performed a vital role in the jogging of the business enterprise, he palms about to the personnel and goes to work in his specialist area every single morning.
In accordance to him, he recognized later on that, his team conspired to make the very same merchandise on his blind side, and then soon after that, employed his assets (Van, Ice chest) to market theirs – making it possible for his (‘Iced Kenkey’) to go undesirable.
This dude went to the extent of registering with the Meals and Prescription drugs Authority, Food and drug administration, and however had to wind down his organization after the disappointment.
My ‘Side-Entrepreneur’ working experience
As the operator of a commence-up in the courier house myself, one thing I identified in my small business is that, some customers are equipped to collaborate with workforce to shorter-improve a business enterprise.
They do this by working instantly with the workplace or the subject staff members to shortchange the company proprietor.
In this circumstance, some discipline personnel i.e. riders pocket monies meant for the organization and produce items to buyers at the cost of the company.
I discovered out that numerous prospects, particularly in the courier service place I uncover myself, slice corners just to make irregular gains.
A number of these clients work in the Modest and Medium Scale Enterprises (SMEs) sector, comprising eating places, retail shops, trend designers amid some others.
A regular state of affairs is the place workforce give out their individual Cell Cash figures to buyers alternatively of giving the workplace Money Transfer selection and then divert the firm proceeds for their personal obtain.
They do these in collaboration with some of these dishonest prospects.
Some of my clients, specially the restaurants, ended up poaching my firm’s riders. Sad to say, they shed them to other courier organizations and you come across these identical prospects returning to us to engage in business.
How does this buyer hope the business enterprise owner to pay out these very same personnel at the conclude of the month?
How do they hope the business enterprise operator to continue to be in business enterprise, whiles these buyers whom I presume are religious or profess to be morally upright, pray to God for their organizations to prosper?
How do they anticipate the business to finance regular maintenance of the bikes?
And how do they want the enterprise to maximize the fleet of bikes to meet the demands of clients?
I fully grasp that at times staff members are callous to their companies or the business enterprise since they are not compensated properly or handled far better.
But some personnel are commonly dishonest, ungrateful and damaging irrespective of how nicely they are handled.
As a start off-up, I did my very best in earning my staff at ease.
There is also the state of affairs wherever the shopper, on seeing a new business enterprise setup, would go there and compare their services with the “giants” in the business, and punch holes in all your processes just to consider benefit of the younger entrepreneur. They will not give you any chance at all to expand.
There was an occasion in which a buyer walked into my workplace, and produced the impact that she was in a hurry. She hurriedly dropped her merchandise for onward shipping, and then presented contacts to the meant recipients, but she unsuccessful to go away guiding her own speak to specifics.
She even so manufactured payment and swiftly still left.
Apparently, all the two contacts of the said recipients ended up mistaken and could not be reached.
The employees was as a result unable to produce the item (A Wreath), considering that both of those the sender and the intended receiver could not be reached.
The Sender remarkably returned to the shop to demand from customers payment of GHS300.00 for the wreath mainly because it could not be sent, even even though we’re not to blame.
In the finish, the firm experienced to painfully aspect away with GH¢300.00 just to conserve impression soon after she designed a scene.
Obviously, this was almost nothing but a very well-orchestrated method to extort dollars from us.
These are just a handful of of the lots of hurdles a young company operator has to go via just to keep a business enterprise afloat in this state.
In the conclusion, some of my young riders broke into my place of work and built away with two of my motorbikes just a day soon after they all acquired their salaries.
It’s unfortunate that a substantial number of our youthful inhabitants are seeking for funds, but definitely do not want to work actually. They have the ‘get wealthy brief mentality’, and so they engage in suppression of hard cash, thievery, insubordination and so on.
Although my Complete Insurance Plan has taken treatment of these stolen bikes, I am in the procedure of winding up this organization for the reason that it appears quite clear that for as extended as I will retain the business enterprise as my side occupation devoid of my comprehensive interest, I simply cannot come across honest people today irrespective of whether as supervisors or standard staff to run the company adequately.
So, a great deal of get started-ups in Ghana keep on to wrestle with an exceptionally unfriendly company natural environment that hits from all angles whether or not from customers, workforce or govt businesses, though the significant cost of credit score remains a bane for businesses.
You can never ever be confident that any type of company will be effective. But setting up a side business enterprise and remaining in employment, can give you some peace of intellect that if your small business doesn’t get the job done out, you’ll continue to have get the job done and be making an money.
It also presents you a competitive advantage in your vocation, as starting a company involves you to discover new techniques. These kinds of expertise can be used to develop your personal career and give you a competitive gain.
And starting a side organization can be the perfect way to unleashing the creativeness within you although it also comes with some drawbacks these as you not possessing considerably spare time to commit with loved ones and good friends, and much less time for your side business and your main career as effectively.
However, in dealing with the aforementioned difficulties of worker dishonesty and the likes, I dare say that a single of the most vital solutions for any start out-up is to be fully current and absolutely concerned in the generic advancement of the business.
This will give you the proprietor the chance to fully take pleasure in improved the nooks and crannies of the new company.
The Author, Felix Ekow Eshun, is a Banker and Source Chain Expert. He is also a member of the Youthful African Leaders Initiative (YALI) and an entrepreneur.