Business leaders and entrepreneurs in Ghana have been urged to invest in people. This was an admonition given by Samuel Odoi Laryea, Deputy General Manager of Soticam Ghana Limited, producers of Dolait Yoghurt. He made the remarks at an entrepreneurship roundtable hosted by The Accra Hub on Saturday May 29, 2021.
The roundtable discussion, organized under the theme, “Partnerships for Greater Prosperity in Business,” assembled a number of entrepreneurs and professionals from various fields to share their experiences and opinions about partnerships in doing business.
Some participants expressed concerns about incidents where people unilaterally and unceremoniously breach partnerships and turn around to use information and resources gained from the partnership against them.
Mr. Laryea spoke profoundly about paying forward. He stated categorically that, despite some negative experiences, entrepreneurs should not shy away from investing in the people they partner with. He was of the view that every investment in people always pays off.
The Accra Hub’s Legal Adviser Ingrid Yeboah, who was part of the discussion, advised entrepreneurs especially start-ups to remember to always document agreements before business commences. Even so, she added that, “depending on the nature of the agreement, you may still not win a case when someone steals your idea to start theirs, especially if your idea is not unique.” She cited an example that, “a make-up artiste cannot own their skills and so some of these partnerships are risk-taking.”
Prior to this, there was a training session on how to use the business model canvas to prepare a business plan. Akwasi Boateng Osei, a start-up business coach and entrepreneur who facilitated the session explained the components of the business model canvas and how it can help entrepreneurs to have a comprehensive understanding of their business.
