The UN Eminent Peace Ambassador to Ghana, Dr Samuel Ben Owusu has stated that it will take four key factors, Homework, hard work, network and smart work to run a successful business in the country.
He made the assertions at the Mantse Amugi Business Africa 2022 Conference which was held at the Accra Metropolitan Assembly (AMA) on the 9th to 10th of August 2022.
The Conference and Exhibition dubbed, “Realizing the AfCFTA Benefits and More” was organised under the auspices of the Ga Traditional Council in Partnership with the Office of the Ga Mantse and JLA Group International.
Touching on Homework, Amb. Samuel Owusu said the most valuable thing to spend time on before starting a company is the market and not the idea.
“I am of the strong belief that if you do your homework effectively, you will attract the right investors for your business. The most valuable thing to spend time on before starting a company is the market, not the idea,” he said.
He continued, "Do as much homework as possible. Deeply understanding the potential customer’s pains and desires allows a founder to iterate the product and vision to quickly find product/market fit. Really knowing the market allows a team to be flexible in their plans and to identify and analyse new opportunities as they arise. It also strengthens your confidence, your self-esteem and integrity in your industry.”
He also said,” You must align yourself with a certain character and attitude to effectuate your homework studies, you must have the attitude of quick response, responding to inquiries and the market demands will keep you ahead if the market obedience to the fluctuation of the market and being obedient to your task.”
Amb. Samuel Owusu made it clear that for a business to progress, it is important that one puts in hard work.
“Hard work allows you to improve your skills and become more productive, which in turn transcend to your workers. When employees are productive, the business can grow and make more profit. Hard work also allows businesses to become more competitive in the market. Hard work is pivotal to the growth of a company, it will draw investors to you and your business because they will know you will work hard to grow their investment. it must be precipitated by certain attitude: Persistence and consistency, Determination, Focus and Unsatisfactory.”
Aside the above, Amb. Samuel Owusu said effective networking was very key to the success of a business.
“The more people you meet, the more people will get to know and remember both you and your business. You should use every professional and social opportunity to meet and connect with new people. Networking provides you with a great source of connections and opens the door to highly influential people that can be a boon for your business. Your network determines your net worth and value in business,” he added.
Meanwhile, Amb. Samuel Owusu speaking on Smartwork said,” Smart working gives you the option to choose when and where you work, which increases productivity, reduces costs, and enhances brand reputation. Organizations often provide smart working opportunities to increase staff work-life balance and improve their quality of life. The principals of smart working is motivated by Platforms availability branding communications. I believe as you practice these key principles of repositioning, you will attract supports, investors and even customers to advance your business portfolio.