Graduates with the ambition to set up their own businesses have been advised to first get exposure from well established businesses in order to minimise their failures.
Mr. Tony Danklu, Managing Director of INRES Limited, an industrial requirements services concern, who gave the advise on Wednesday while delivering a lecture on the topic: “Entrepreneurship – Managing the successes and challenges,” intimated that the few years spent by graduates to see how companies rain their affairs especially their challenges and mistakes, will serve as invaluable experience to guide them in the future.
The lecture was organised by the Tema Chapter Alumni of KNUST as part of its monthly activities to continually educate members and the general public.
Mr. Danklu said unlike the developed countries where the venture market was well developed the situation in Ghana was the reverse and entrepreneurs needed to develop the capacity to raise funds to bring their vision to fruition.
He said the defining characteristics of an entrepreneur is risk taking and therefore urged young entrepreneurs to be bold and stay focused on their vision while ensuring that they build the trust of their clients.
“Let the customer’s interest be your command and deliver goods and services in the right quality and quantity and with dispatch so that you can bead the competition,” he said.
Mr. Danklu said even though there was a lot of satisfaction from developing an idea from the scratch to a finished service or product to the consumer, entrepreneurship took up a greater portion of ones time and there was the need to strike out a balance to be able to raise a family.
He therefore, advised that businessmen carry their family along by letting them understand their vision.
On the relationship between employers and employees he said entrepreneurs needed to deal fairly and cultivate the trust of their staff to continue to stay in business.
Mr. Danklu noted that successful businesses would continue to grow if their owners kept their focus and the tempo and therefore urged entrepreneurs to consider inviting other competent hands to help in management so as to check excesses.
“Be financially discipline, meet all statutory regulations and contractual obligations and never act to the contrary for doing so can spell a doom for your company,” he warned.
Mr. Danklu further advised that entrepreneurs keep a clear vision to where they are going and map out a succession plan so that their ideas can stand the test of time.
Mr. Tony Danklu, Managing Director of INRES Limited, an industrial requirements services concern, who gave the advise on Wednesday while delivering a lecture on the topic: “Entrepreneurship – Managing the successes and challenges,” intimated that the few years spent by graduates to see how companies rain their affairs especially their challenges and mistakes, will serve as invaluable experience to guide them in the future.
The lecture was organised by the Tema Chapter Alumni of KNUST as part of its monthly activities to continually educate members and the general public.
Mr. Danklu said unlike the developed countries where the venture market was well developed the situation in Ghana was the reverse and entrepreneurs needed to develop the capacity to raise funds to bring their vision to fruition.
He said the defining characteristics of an entrepreneur is risk taking and therefore urged young entrepreneurs to be bold and stay focused on their vision while ensuring that they build the trust of their clients.
“Let the customer’s interest be your command and deliver goods and services in the right quality and quantity and with dispatch so that you can bead the competition,” he said.
Mr. Danklu said even though there was a lot of satisfaction from developing an idea from the scratch to a finished service or product to the consumer, entrepreneurship took up a greater portion of ones time and there was the need to strike out a balance to be able to raise a family.
He therefore, advised that businessmen carry their family along by letting them understand their vision.
On the relationship between employers and employees he said entrepreneurs needed to deal fairly and cultivate the trust of their staff to continue to stay in business.
Mr. Danklu noted that successful businesses would continue to grow if their owners kept their focus and the tempo and therefore urged entrepreneurs to consider inviting other competent hands to help in management so as to check excesses.
“Be financially discipline, meet all statutory regulations and contractual obligations and never act to the contrary for doing so can spell a doom for your company,” he warned.
Mr. Danklu further advised that entrepreneurs keep a clear vision to where they are going and map out a succession plan so that their ideas can stand the test of time.
