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Don’t go into business alone — DCI Microfinance MD advises

BY: GraphicOnline
The Managing Director of Diamond Capital Investments (DCI) Microfinance, Selasie Woanyah
The Managing Director of Diamond Capital Investments (DCI) Microfinance, Selasie Woanyah

The Managing Director of Diamond Capital Investments (DCI) Microfinance, Selasie Woanyah, has urged Ghanaian youth to consider partnerships when they decide to start a business.

Speaking to Rev. Erskine on Y107.9FM’s YLeaderboard Series, Mr. Woanyah said it was ideal to start a business with trustworthy people.

"It’s not advisable for people to go into business alone, it would be better to do it together with people you trust," he said.

He added that lenders do not lend to people with ideas but rather people ready to build their businesses.

“A bank for instance, does not lend to finance an idea. That is left for another group of funding category. So, my advice to young people is that, focus on building your business. First of all, get the right partners and don’t go into business alone”.

He explained that having three co-founders for a business was ideal because all the partners could bring different essential skills that would make the business a success.

"If you can get two co-founders to make up three founders of a business, it’s the best. You have to look for friends who have different strengths and skills to help build a synergy that will enable your company to thrive” he said.

He further urged the youth to look out for partners who are in agreement and understand the direction of the business.

“When you find such people, write everything down and make sure you all have the same goals, have conversations around the ideas you have and focus on building your product, after build your market to a point where you’re able to sell it”.

He added “for your business to reach the people, you have to go to the street, knock on doors and fish for clients”.