For some people, the entrepreneurial route offers the freedom of being their own boss and the ability to think, plan, and innovate in their own unique way. However this freedom, comes with a price. “Through my multiple years of starting and managing successful enterprises, I have learned that real, sustainable success comes not only from securing access to funding — it comes from having access to an objective and trustworthy advisor,” said Jurie Willemse, Group CEO of GroFin, at the Nomou Egypt Network Launch in June.
So, what does it take?
The first five years of entrepreneurship are crucial in securing a business. Establishing any business requires dedication, which, when kindled from passion will keep one steady on the roller-coaster ride to business success. Those who firmly believe in what they are planning to create will cultivate an environment where they seek the advice of experts, be they investors, service providers, or consumers.
Being able to reconsider one’s plan and adapt to changes from an ever-evolving world is crucial to keeping a sustainable business going. Scrutinizing one’s environment and being open to learn from ideas presented by others definitely helps in keeping the business relevant and maintaining/improving customers’ satisfaction.
For more than 10 years, GroFin has cultivated a relationship with Shell Foundation. Jurie Willemse explained that, “Through this partnership we continued to apply our unique formula of merging the entrepreneurs’ financial needs with integrated business support services in Sub-Saharan Africa and the MENA region.” Investors, partners and referral network form part of the network one needs to succeed. GroFin, for instance, assists entrepreneurs of small and growing businesses to grow into sustainable businesses that will generate positive socio-economic impact in their local communities by linking them onto their network.
What makes you different?
The market is full of competitors and sometimes the extra-value that keeps one’s clients returning is one’s superior customer service or quality affordable service. In times of economic adversity, being different is an asset. People will remember you for the difference.
For a business to be successful, it is important that an entrepreneur take some risks. Taking risks shows confidence and helps you stand out. But risk must be balanced with market research. There are different types of risk that arise and should be considered when running a business. Some can destroy a business, while others can cause serious damage that can be costly and time consuming to repair, while others may open new markets.
Changing Negative into Positive
Every day GroFin’s fourteen offices deploy expert staff to provide services to entrepreneurs. As a result, GroFin has far surpassed global expectations for the segment it serves. Indeed, the World Bank estimates a failure rate of 80% for start-up businesses. Through the formula of Finance plus Expertise equals Success, GroFin has achieved an 80% success rate.
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