Seek money from friends, family and 'fools' - Ken Thompson to aspiring entrepreneurs

The generation and acquisition of capital remains the paramount issue of all startup businesses and entrepreneurs. Many highly successful business gurus however stress constantly that capital should be the least worry of rising entrepreneurs, noting that the most important aspect is to have an outstanding idea which can be backed by those who generate it.

But in response to how capital can be acquired by entrepreneurs, Chief Executive Officer of Dalex Finance and Leasing Company Limited Kenneth Thompson has revealed three sources he identifies as the ‘3Fs’; Friends, family and fools.

Explaining into details he observed that family members had the tendency to help with funds out of sentiments toward the entrepreneur.

Friends, he indicated could be consulted to donate monies because they are familiarized with the entrepreneur and as such there was a certain level of trust and rapport.

On the other hand, he noted that there are some people who don’t know the entrepreneur but will still give out monies in support of the business because they are not afraid to take risks.

Mr. Thompson was speaking to a room full of students at the University of Ghana Business School at the Global Entrepreneurship Week seminar.

He advised the students to be hardworking and focused in their area of studies while aiming to ultimately be business owners. The Dalex Finance Boss however admitted that not everyone was cut out to be an entrepreneur but urged them to be diligent nonetheless to enable them become successful.