Believe in the magic of your dream – Ken Thompson urges youth

Young business leaders and entrepreneurs must dream big and believe in the ‘magic’ of their dreams, Managing Director of Dalex Finance, Ken Thompson, has urged.

“What I can do is tell you to dream big. You have to dream big and believe in the magic of your dreams,” he said at the official opening of the Ghana Economic Forum (GEF) NextGen Business Leaders Workshop.

The one day practical workshop on innovation, strategy and growth saw about 20 rising entrepreneurs across the fashion, food and beverages, communications, real estate and construction industries participating.

They were hosted by Mr. Thompson, with support from the B&FT and BT Magazine, at the Best Western Premier Hotel, in Accra.

According to Mr. Thompson, who is the reigning GEF Businessman of the Year, Dalex Finance has, over the past four years, seen a turnover of GH¢29million to over GH¢130million and a staff strength from 110 to over 2,200 members of staff in difficult economic environment.

“I think that we have done something right and winning the award, including Dalex Finance winning the Business of the Year, was a privilege and unexpected. But it was also very refreshing that at least, somebody has noticed what we have done as a company.

Our sacrifices are a success on the altar of strategy and the B&FT in itself has provided an excellent platform for us to be able to share our ideas; and one thing I say is that the future of this country will never be secure unless we secure the future of our children and the youth,” he said, adding that every time he interacts with the youth he recognises that there is a lot that must be done.

“In our company, the average age is around 30, so we have a future and it is important that we secure that future. It is important that we teach, share, coach and mentor the future because the currency of life is human beings,” he added.

It is all about attitude

Rockson Dogbegah, Executive Chairman of Berock Ventures, a construction firm, lauded the NextGen Business Leaders Workshop and urged the young leaders to have the right attitude to work while taking advantage of opportunities that fall their way.

“We are there to support you but the key is about attitude. Everything is about attitude. If you want to succeed you will succeed, if you want to fail, you will fail: the choice is yours. My observation is that sometimes we listen but we do not take it forward. You must implement the crucial advices given you,” he noted.

Maintaining integrity and building a pipeline mentality

Norman Williams, ACCA’s Portfolio Head for East and West Africa, urged the young business leaders to capitalise on what they have learnt to build their businesses and their future.

“The bottom line is that we need to support the economic development of this country and these are some of the very smart ways of doing it – building the capacity of your business leaders.

One key thing you have to bear in mind is integrity. If you want to grow your business, you need to adopt those principles of integrity to drive your business. How you engage with your stakeholders, suppliers, and customers. Integrity should be the underlining factor,” he said.

Mr. Williams suggested that young business leaders must build a ‘pipeline mentality’. “What this means is that you need to sustain the business. You don’t go and hit once and go back to sleep; you have to make sure there is consistency from a profitability and account management point of view.

You need to add value, build your capacity, read and research in your particular area of business. That is the only way you can set yourself apart from the lot,” he added.

Start small but look beyond the local economy

Kate Quartey Papafio, CEO of Reroy Cables, urged the young business leaders to start small but look to become big over time. “You have to start small to become big. This is where you have to be committed to the course and make sure that in everything you do, pay attention to details,” she said.

The rising entrepreneurs, she said, should stay focused on efficiency and work on achieving quality products which will then lead them to conquer the sub region.

“After conquering the sub region, you need to look beyond and fly the flag of Ghana in the world markets. The market is always there waiting for you. Conquer Ghana and then look beyond,” she added.

Participants’ views

The participants were grateful for such an impactful workshop, saying they will surely implement what they learnt.

Esther Arthur-Don, CEO of Ewopa, a honey production company, said the event has empowered her to be able to step out and build her business. “I really want my business to grow and so I have to apply all the things I have learnt here today. I learnt about how to think very high, dream big, innovate, and persevere,” she said.

Kwabena Adu-Gyamfi, CEO of Mpaboa by Kwabena, a fashion brand, noted that young business leaders do not plan before acting. “The key thing I have learnt is to plan and be innovative because whatever business you are doing, you are in a competitive market.

I am into footwear and I know that there are a lot of brands that have been around for centuries and more to come, so to be successful I have to be innovative and think about what others are not doing and then I do them. Apart from that, there is the crucial matter of sustainability. I have learnt all of these things,” he added