The second edition of the EB Connect came off successfully with about 12 early-stage startups participating. On the 21st of October,2022 Enterprise Bureau’s EB CONNECT brought together stakeholders of the Startup Ecosystem in Africa. They discuss and offered solutions to some issues faced by the Startup community. This was geared towards making enough resources and opportunities available to maximize their chances of success.
It started with a Session of EB Opinions Corner where participants were asked their general opinions on “If street hawking was underrated in terms of income generation”? Participants had very interesting opinions on the said topic but largely most did agree to the fact that it was indeed underrated. Those who disagreed based their arguments on demographics. They identified street hawking was only largely common in the big cities not the whole country, hence it would be unrealistic to make conclusions based of a small group, they said.
There was an Open Forum Session where participants asked questions and discussions took place on some problems they faced in their businesses. Most questions were asked on how one could sustain their business.
The next session, was Time with The Expert, we had a resource person Hon. Seth Adjei Baah , speaking on the topic, “Startup Business Sustainability Hacks”. He gave some hacks he himself has used being a business man which has helped him achieve the success his business has today.
Hon. advised young entrepreneurs to be like the letter V in vision and learn to grow with the business. He said one should learn to separate themselves from the business or company. If your workers feel appreciated and like they belong they would do all it takes to make sure the business grows. Education is equally important he said, it helps you decide what action to take.
There is the need to make your workers feel important. You are because of them, he said.
Also, always remember the main reason why you are doing the business in the first place is to make money, every other thing else becomes secondary. The primary aim is to make money therefore; all your decisions should be leading towards that goal.
He advised participants not to bring relations into business, he said that was one of the surest ways to fail as a business person. Familiarity breeds contempt. However, one can include the extremely disciplined ones.
Finally, the Networking Session where participants got to talk to each other and know what they do, exchanged contact details and so on.
Notable among the participants in EB CONNECT were the Co-founders of a delivery service business and the App Letzgig, the Founder of Gid Jay Ventures, the Owner of Mutaka Consulting Service, the Founder of Aje Moneta, some representatives of ZongoVation Hub,
Key insights were; The need to remain disciplined as an entrepreneur. Learn to live within your means. To sustain your business, money is key but all other things follow. Education is key, it helps widen your scope and knowledge. Also, learn to identify with successful people.
Participants expressed gratitude and admitted they had learned a lot from the day’s meeting.
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