It requires a lot to be successful in business: a good product or service, financial acumen, the right connections and capital to keep things running are just a few of the tangible requirements.
But the soft-skills required to maintain resilience in the face of overwhelming odds, overcome adversity and recover from failure cannot be discounted.
What are the mindsets that keep entrepreneurs going against all odds?
We reached out to the wide-world of business owners for their mantras, inspirational quotes and advice about how to do what they do.
The Power of Passion, Purpose and Creativity
Entrepreneurs and business owners have the rare opportunity to do something they truly love – the opportunity to be a force for good in the world instead of a cog in the machine.
Keep this in mind when the journey inevitably gets tough.
- “Everyone has their own reasons for starting their own business. But don’t choose other people’s reasons; choose your own.”
Simon Dlugowski, Founder of MySocialNerd.com
2. If you do what you love, you are more likely to be better at what you do. Don’t choose your career path based on other people’s expectations. Have faith in yourself and your judgement. Work hard and do what you enjoy. If not, you will have to live with the lingering feeling of wondering what could have been.”
Charles Dugan, Founder of American Image Displays
3. “The passion and desire you have to bring something into this world was given to you for a reason. You were meant to do the work that drives you and compels you to create. Never forget that the world needs exactly what you have to give, and it won’t be complete without it.”
Jessica Kinsey, Founder of Prodigy & Co
4. “Let your mind wander at the right time. Daydreaming makes people more productive because it taps into the subconscious and encourages creativity. You just have to learn how to do it well. Think of as many things as you can for an hour, when you do that, you find solutions to problems.”
Stephen Constantine, Founder of YouMap
5. “Go out into the world. Go into the homes and workplaces and quiet places of real people with real challenges. Watch and listen. There we will learn what the actual challenges are we as founders can help solve.”
Matthew Cooper, Co-Founder and CEO of EarnUp
6. “When you start a business, the goal is not to make money. That should be the last goal on your mind actually. Instead, you should start a business because you love what you do.”
AJ Saleem, Academic Director at Suprex Tutors Houston
7. “You are never too small and ordinary to make a difference. A seamstress named Rosa Parks refused to give up her seat and move to the back of the bus. A shipyard electrician named Lech Walesa led the movement that threw the Russians out of Poland and later became its president. Ben Cohen and Jerry Greenfield knew nothing about ice cream or business and they started a company that showed it was possible for businesses to change the world. I own a one-person social entrepreneurship consulting business based in a farmhouse, and I personally started the movement that saved a mountain. If you think you’re too small to have impact, hang out with a mosquito. Step into your greatness—it’s waiting for you!”
Shel Horowitz, Going Beyond Sustainability
The Power of Your Mindset
Henry Ford famously said, “Whether you think you can or you can’t, you’re right!” The power of your mindset when it comes to your success cannot be dismissed. Keep these quotes in mind:
8. “Entrepreneurs face obstacles from all sides, day in and day out, but the greatest battle entrepreneurs fight is over mindset. No competitor is as dangerous as your own doubts or complacency. Make positivity and enthusiasm your highest priority, and you’ll find ways to take care of all the rest. I can tell you with 100% certainty that the days I’ve gotten up and attacked my work with a positive attitude, I’ve made progress. On the days when I’m feeling low, letting the doubts and frustrations eat away at my mindset, I see only a fraction of the results. Entrepreneurship is a battle waged in the mind.”
Brian Davis, Director of Education, SparkRental
9. “The only difference between fear and excitement is the story that you tell yourself. Tell yourself a story that will move you forward.”
Laura Huckabee-Jennings, Owner of Transcend
10. “I’m a true believer in the Laws of Attraction. What you think about, you bring about. Say to yourself, ‘In 2018, I will…’ and write it in a notebook or somewhere you’ll see it often. Remind yourself that running a small business is something that you want.”
Denise Marcelin Pringle of Denmar Consulting LLC
The Power of Your People
The reason many entrepreneurs start a business is because they have a natural inclination to go it alone. This quote is a reminder not to let that be your downfall.
11. “Don’t let your doubts get in the way of your success. As a business owner, it’s important to utilize a support group who shares the same vision as you. This network is what will help you get through the difficult times, and help you celebrate your wins.”
Katie Krawcyzk, Founder of 19 IDEAS
Prepare to Persevere
No matter how lucky you are, no matter how talented you are, your business will not succeed unless you keep going.
12. “A small boy or girl selling lemonade has a business. A creative entrepreneur with a business plan only has a paper.”
Katie Smith, CEO of Skip Hire Isleworth
13. “Many refuse to step up to life’s plate for fear of striking out. However only those willing to risk a strike out are given the opportunity to hit a home run. Whatever you do, just keep swinging.”
Kelly Bertog, Founder of Six-Figure Sponsorships
14. “No matter how hard it gets, continue providing value upfront and continue delivering on your promises, and eventually you will be successful.”
Simon Dlugowski, Founder of MySocialNerd.com
15. “Entrepreneurship is being on a mission where nothing can stop you. It will take twice as long as you’d hoped, cost exceedingly more than you’d ever budgeted and will be more challenging than anything you’ll ever try but if you give it your all and refuse to give up, you can trust it will be the ride of a lifetime.”
Lori Cheek, Founder/ CEO of Cheekd
16. “Persistence and ambition almost always beat out talent. Many startups and companies fail simply because they give up too early. Success isn’t achieved by avoiding failure, but instead finding the determination to work past it.”
Sophie Knowles, Founder & CEO of PDF Pro
The Power of Failure
You are going to fail before you truly succeed. Your perspective, and understanding failure’s role in success, is paramount to overcoming it.
17. “You don’t know how far you can rise until you are knocked to the ground.”
Ted Jenkin, Co-CEO and Founder oXYGen Financial
18. “Failure happens not when you don’t succeed the first time but when you stop trying the last time.”
David Burckhard, PicturePoint On-line
19. “Fear of failure is something as an entrepreneur I am constantly battling against. As an entrepreneur, you are constantly trying new things and pushing the envelope. If you are not failing, you aren’t trying hard enough. Often when my team is hesitant to take action in fear of failure, I am known to say ‘It might not work. You might fail. But I rather fail at something that has potential than succeed as something with none.’”
Warren Struhl, Owner of Successories
20. “The best way I know to recover from entrepreneurial failures is to rely on your support group. This could be any combination of friends or family. They might not be able to give you any game-changing solution to your problem, but as long as they aren’t there to question or criticize you, they should help you at a personal level with their love and support. Simply getting away from your problem for a day or even a few hours could prove invaluable.”
Peter Carson, President, Extranet User Manager
21. “Let rejection be the fuel for your motivation because on the road to your dreams, nothing should stop you.”
Dale Noelle, Founder & CEO of TRUE Model Management
Enjoy the Journey
As a business-owner, it’s only natural for you to focus on results. But focusing only on the results is one of the fastest ways to burn out.
22. “Entrepreneurship is like a bike ride. Some paths are familiar, others take you through new or rocky terrain. Some people seem to travel very far quickly, while others struggle to make it up the first hill. Each journey is different, sometimes by choice (like where to ride) and sometimes by chance (like inclement weather). Every rider has a different set up uphill climbs and downhill cruises ahead of them. Sometimes you’ll ride uphill and into the wind and it’ll feel like the world is fighting against you. Every forward motion will be hard fought and difficult to achieve. But that only makes the crest of the mountain that much more sweet of a victory when you get there. Other times you’ll be pedaling downhill and feel invincible, like you own the streets and nothing can stop you. These are the times to stay humble and keep pedaling. Realize that you’ve worked hard to get here, but just because the path is working in your favor right now doesn’t mean it will always stay that way. Keep your head down and pedal because you could be riding into another uphill battle and need to keep your momentum.
We all have different paths and some of us will go a lot farther than others. It’s not always fair that some people have better bikes than others, but that’s how the world works. Keep your eyes focused on the riders going faster than you and learn from them. But remember that no matter how fast you go, there will always be someone out there passing you, don’t let that discourage you. And lastly remember, while it’s important to travel far, at the end of the road it’s more important to enjoy the path that got you there.”
Matt Ham, President / Owner of Computer Repair Doctor
You Know What’s Even Better Than Business Quotes?
Now that you’re feeling inspired and ready to take your business to the next level, let us help connect you to a lender who might be able to get the resources you need to expand your company or launch your startup.
SSNIT Calls For A Review Of Contribution Rate.
The Social Security and National Insurance Trust (SSNIT) has called for a review of the contribution rate of workers to enable it to sustain the pension scheme and to pay workers higher pensions.
Currently, the contribution rate is 11 per cent of basic salary but SSNIT wants it reviewed to 19.2 per cent.
At the Volta Regional forum in Ho to discuss issues related to pensions, benefit computation, among others, the Director-General of SSNIT, Dr John Ofori-Tenkorang, said there was the need for a discussion on what the correct funding rate should be for the scheme.
The forum was organised by the Trade Union Congress (TUC) in collaboration with SSNIT.
Participants were taken through practical details of how to estimate their pensions.
Dr Ofori-Tenkorang said the benefits that pensioners received as compared to the contributions they make showed that there was a chance that SSNIT might not be able to meet its obligations in the future especially when more and more pensioners come on board.
“We have had external actuaries who come and look at our scheme every three years and some of their suggestions they have been making is that we should come up with an appropriate funding rate to sustain the scheme,” he said.
The time, he said, had come for the country to build a robust and sustainable scheme that would still be there for generations to come.
Responding to claims that SSNIT pensions were low, Dr Tenkorang debunked such claims, stating that there were no myths surrounding benefit computation and that pensions were “a direct reflection of salaries of workers on which they contribute”.
He described SSNIT as a “generous scheme”, explaining that the lowest paid pensioner earns more than a lowest paid worker in active service despite meagre contributions.
According to him, the system put in place did not create the opportunity for SSNIT workers to steal people’s pensions and in a situation whereby there was a wrong computation of benefits, it could be easily rectified.
“SSNIT does not cheat workers. I can’t cheat you; SSNIT workers cannot cheat you too. If they don’t even pay you the right amount, they can’t put that money in the pocket because wrong computation can easily be corrected,” he told members of labour groups and workers at the forum.
The SSNIT boss mentioned that SSNIT had embarked on an aggressive public education agenda to promote knowledge of the scheme among others and for that matter has rolled out the second phase of infoshop in five universities to empower next generation of workers on their right to the scheme.
The Deputy Secretary General of TUC, Mr Joshua Ansah, said pensions had been a major concern for workers in Ghana and that was why they felt it necessary to bring the top hierarchy of SSNIT to address the concerns for workers.
He urged workers to take an active interest in their social security and retirement planning.
Source: Citi Business News
Ghana Leads Africa In Gold Production
South Africa’s struggling gold industry has suffered yet another humiliation, losing its status as continental leader to Ghana.
The country that led global gold production for a century and extracted about half the bullion mined to date is now Africa’s second-largest gold producer. Output is shrinking as operators capitulate to stubbornly high costs, regular strikes and the geological challenges of tapping the world’s deepest mines.
Meanwhile Ghana, a country whose gold-mining industry dates back to the 19th century, is benefiting from lower-cost mines, friendlier policies and new development projects.
South African industry stalwarts AngloGold Ashanti Ltd. and Gold Fields Ltd. are shifting their focus to other countries — including Ghana — where deposits are cheaper and easier to mine. The largest remaining gold miner in South Africa, Sibanye Gold Ltd., is cutting thousands of jobs and diversifying into platinum-group metals as it struggles to contain costs.
The difficulties facing South African gold mines mean output is contracting even though it’s got the world’s second-largest reserves of the metal, according to estimates from the U.S. Geological Survey.
In Ghana, gold output jumped 12% in 2018, according to data from the country’s Chamber of Mines. Small producers account for the largest share of the total, although the nation also hosts some of the world’s biggest gold miners, including No. 1 producer Newmont Goldcorp Corp. While Newmont is exploring in Ethiopia, Ghana is the only place in Africa where it operates.
“It’s an important part of our portfolio and, geologically we see really good potential to continue to expand,” Chief Executive Officer Gary Goldberg said in an interview. “We’re very happy operating in Ghana.”
The West African nation’s output will get a further boost when AngloGold Ashanti’s Obuasi operation, previously overrun by illegal miners, restarts later this year. Production from Obuasi is forecast at 350,000 to 450,000 ounces of gold annually during the first 10 years.
The Obuasi operation “will be an engine for growth” for AngloGold, CEO Kelvin Dushnisky said in September. The company is investing as much as $500 million to revive the mine.
Gold Fields, which has operated in Ghana for 26 years, says authorities there understand what makes for a “sound” business environment. The country cut corporate taxes in 2016 and in 2017 changed Gold Fields’ mineral royalty to a sliding scale based on the gold price, from a 5% flat rate.
“The government of Ghana’s 10% free-carry stake in all mining companies provides a level of security to the investment,” said Sven Lunsche, spokesman for Gold Fields.
Back in South Africa, a dearth of exploration and investment means the sector that once powered Africa’s most-industrialized economy will continue to shrink, said Mineral Resources and Energy Minister Gwede Mantashe. As South Africa’s 130-year-old industry limps toward its final years, mining investors must look beyond gold for better returns, he said.
“Gold is an old sector and naturally it will decline,” Mantashe said. “New minerals that are discovered are becoming more important.”
Kasapreko Donates To Chief Imam To Mark EID-UI-FITR
Ghana's leading and most successful beverage company, Kasapreko Company Limited has donated one of it’s latest innovations, Smart Choice flavoured water and other brands including Awake Purified Drinking Water, Storm Energy drink, Chocomalt, Kiddy Pack drinks to the National Chief Imam, Sheikh Dr. Usamanu Nuhu Sharabutu to mark this year’s Eid-UI-Fitr.
Presenting the donation at the office of the National Chief Imam in Accra, Mr. Chris Addo – Sarkodie, Marketing Manager at Kasapreko said the donation was in line with their social responsibility and given the reverence and stature of the National Chief Iman, the company felt it proper to undertake this exercise.
He also maintained that they look forward to stronger relationship with the Office of the Chief Iman in the ensuing years.
National Chief Imam Sheik Dr. Osmanu Nuhu Sharubutu applauded Kasapreko company Limited for the kind gesture and used the opportunity to pray for the entire nation – appealing to Muslims to bridge the gap between the rich and poor by way of giving to the needy and less privileged in the society and the Muslim community.
Sheikh Aremeyaw Shaibu (Spokesperson for the National Chief Imam), who received the donation expressed appreciation for the kind gesture.
Chief Imam ended the ceremony with a prayer that Allah blesses the company in all its endeavours.
Kasapreko Wins Most Admired Brand In Africa
Kasapreko company limited, one of the leading and most successful beverage producing company in Ghana emerged among the Top 25 most admired brands in Africa. This was announced at the 7th annual Brand Africa report in Belgium on the 24th May 2019.
Kasapreko company limited is the only Ghanaian business that made it to the top 25 most admired brands in Africa, according to the report unveiled by Johannesburg Stock Exchange (JSE) in partnership with Geopoll , Kantar, Brand Leadership and Africa Business Magazine.
Brand Africa 100 is a Pan Africa survey and ranking of Africa’s best brand developed by Brand Leadership. The rankings are based on comprehensive survey by Geopoll, a global leader in providing high quality market research in emerging markets and strategies analysis weighted by consumer admiration and Kantar, the world leading Data, Insight and consulting firm.
Kasapreko Company Limited beats brands such as Amarula, Jumia , Kenya Airways, Ethiopian Airlines, Star Beer, Kwese among others in the categories of Alcoholic Beverages, Retail, Aviation, Food , Media and Personal Care.
Commenting on the award, Mr. Richard Adjei, Managing Director of Kasapreko said, This honour is dedicated to the hard working staff of the company, Key distributors and partners for their continues support and growth to the organisation.
He also thanked the customers and consumers of kasapreko brands on the continent which has seen the company been ranked as the most indigenous Ghana beverage provider in Africa.
Mr. Gerald Bonsu, the commercial Director also added that the company’s brand portfolio holds the most loved brands such as Alomo Bitters, Storm Energy Drink, Awake Purified Drinking Waater , K20 Whiskey, sold in the world.
Mr. Bonsu assured that the Flagship brand of the product of KCL , Alomo Bitters is in its 20th Anniversary. Alomo Bitters which is a scientifically formulated herbal alcoholic beverage has met all international students selling in many countries across the world.
Kasapreko Company limited is a multi National total beverage company having with product line categories such as Water, Wine, Cuder, Liquor and whiskey.
The company has bagged several awards including West Africa Business Excellence Awards, Export Manufacturing company of the year, Alcoholic Bitter of the year (Alomo Bitters, Manufacturer of the year (Kasaperko Company Limited) , Best Local Tax Compliance Company of the Year by Ghana Revenue Authority, ISO Certified Company and Ghana Club 100 among others …
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