Businessman Dr Papa Kwesi Nduom has advised the youth not to rush into entrepreneurship, but first gain skills and experience needed to run a successful enterprise.
The President and Chairman of Groupe Nduom (GN) who was addressing students of the Wa Nursing and Midwifery Training College in the Upper West Region explained that hard work was key to owning one’s company, adding that it was important to learn as an employee and rise through the ranks to be very influential in society.
“It is good to become an employee and a better one, a good one because it gives you the skills that you need. If you are an employee of someone and you are a bad employee – you are always late, always making mistakes – when you start your own company, what will happen? You will always be late, you will make mistakes, and you will not make money and the business will fail,” he explained.
Dr Nduom advised the students not to resort to “short cuts” at reaching career heights, but to take time to pass through the mill.
“Short cuts don’t last. If you want to take short cuts, it might get you there. But unprepared, you might get there by cheating, you might get there and not understand what it took to get there, and usually people who like to take a short cut get lost along the road,” stated Dr Nduom.
According to him, it was more reasonable to be practical when talking about hard work and success, hence his decision to use his own private life as an example. He stated that he “started by working for somebody else and I happened to be lucky”.
Tracing his roots to Elmina where he was born to professional teachers, he said through humility and dint of hard work, he got an opportunity and won an essay competition which landed him a scholarship to study in the United States of America (USA).
He recounted that life in America was not easy. However, he said with perseverance and dedication, he rose up the ladder.
Dr Nduom said through his insatiable quest to always be the best in life, he succeeded at becoming a partner at a multinational accounting firm, Deloitte and Touche, having joined the company as an associate consultant.
The founder of the Progressive People’s Party (PPP) urged the students not to give up hope, but have courage in whatever business venture they engaged themselves in, in spite of the numerous economic challenges facing the country.
Groupe Nduom is the umbrella organisation for over 50 companies, which cut across the various economic sectors of the country.
They include Coconut Grove Regency Hotel, which is in the hospitality industry; GN Bank in the financial sector; and First Digital and GN Media in the media sector. The FreshPaK factory produces food trays and other containers for the domestic and export markets.
GN recently completed the acquisition of Illinois-Service Federal Savings Bank (ISF Bank) following the regulatory approval by the US Office of the Comptroller of the Currency.