For young people who wish to start and run their own businesses in whatever scale, the thoughts of failure has kept many dragging their feet if not completely shelving the idea.
However, Chief Executive Officer of Charger Limited Emmanuel Bortey Borketey has said failure is an important ingredient in business.
Outlining what he described as secrets to successful businesses, Mr Borketey charged young people to endeavour to take risks, noting that failure is a great source of experience on which one can build a more precise and sustainable plan to succeed in business.
“Failure is a part of the entrepreneurial journey. Don’t be afraid to take risks and try new things, even if they don’t always work out. Learn from your failures and use them as an opportunity to grow and improve,” he said.
He further stated that “The business world is constantly changing, and as an entrepreneur, you must be able to adapt to these changes. Be open to new ideas and be willing to pivot your business when necessary”.
In an interview on Dreamz Fm, the Charger Limited CEO recounted how he failed in an attempt to organise events to introduce his company’s products in the Upper East Region.
According to him, the current state and financial standing of the beverage producing company is a result of persistence, hardwork, strategic planning and adaptation to changing trends and dynamics of the market.
He disclosed that a 10 year strategic plan was developed for the company to guide its course and direct the company’s vision of being a leading alcoholic and non-alcoholic beverage production company in the country.
The 10 year strategic plan he stated has been achieved as the company prepares to introduce new products onto the Ghanaian market with an additional path of producing herbal products.
“It is important to have a clear understanding of what you want to achieve with your business. Your vision should be clear and concise, and it should guide all of your decision-making processes.
No entrepreneur can succeed alone. Building a strong team is crucial to the success of any business. Hire people who are skilled, motivated, and aligned with your vision and remember to treat them right,” he said.
