‘Your Job Hard But E No Hard Pass Entrepreneurship’: Jeremiah Buabeng Explains the Hustle of Entrepreneurship

Becoming an entrepreneur is a difficult task. There are many risks associated with running your own business. 

These include, but are not limited to, financial risk, uncertainty, high responsibility, long working hours, emotional stress, and team compliance.

In this article, Jeremiah Buabeng, Groupe Chief Executive Officer at Groupe Buabeng, Chief Executive Officer (CEO) & Founder at Enije Restaurant, Chief Executive Officer at Enije Hospitality Ltd, Lead Consultant at Corporate Toolbox Ltd, Chief Executive Officer at Buabeng Books, and Former Chief Executive Officer (CEO) & Founder at Buabeng Communications, speaks about the stress of running your own business. 

Jeremiah Buabeng studied MA Organisational Leadership and Corporate Governance at University of Ghana Business School, BA Communication Studies at African University College of Communications, HND Marketing at Accra Technical University

Here’s his take:

“Entrepreneurship is dangerous. It can kill you or, at best, give you mental health issues. It can make you depressed or, even worse, take you to prison. This is no exaggeration. An entrepreneur has to wear so many hats and fight so many battles at the same time that it can wear you out. Your job hard but e no hard pass Entrepreneurship. 

An entrepreneur has to work on sales—the job of getting customers to buy your product. That’s the hardest part of a business. For every 100 people you approach to sell to, only 10 or less will show interest. Eventually, only two may buy. Sometimes, none. Then you have to start with your next 100. You can go about 5 rounds of such 100s and not even get 10 customers. You can go months without making substantial money, yet you are working with staff who will be paid, using airtime, data, and fuel to attend several meetings, and designing and printing proposals. 

While working on getting new customers, you also have to pay attention to the work being done for current customers. That’s the work of operations. They think they are the ones who do all the work. They have no idea how hard it is to get the client to give you the job. And very often, they are the ones who mess up the job, get the client upset, and make your business unable to get word-of-mouth referrals. They can make mistakes that can cost you thousands of cedis. And you probably took out a loan to even finance the job. You also have to deal with tantrums from some customers, some of whom expect you to answer their calls/msg at night, at dawn, and on weekends. You are with your wife at 10 p.m., then the customer is calling. 

Then there’s your biggest problem; people. The employees to whom you pay salaries to help you carry your burdens will themselves become a burden. It’s called Human Resource Management. You have to deal with those who are underperforming, those coming to work late or not coming at all, those with attitudes and behaviours that don’t align with your vision for the business, those who cannot be taught or corrected, hiring and training new people, firing old ones, persuading good people who want to leave to stay, dealing with betrayal of those who pretended to want to stay but were planning to leave, dealing with disappointment of those you trained from scratch who are now misbehaving, etc. Some will steal your clients, steal your money, steal your supplies, and steal your joy. 

And then there’s administration, accounting, and finance. That stretches from ensuring proper record-keeping of sales and expenses to invoicing, receipt, suppliers, inventory management, and dealing with banks. There is that big demon called loan repayment. You can raise hundreds of thousands of cedis to finance a business or project, yet it will turn out poorly, and your loaners will be calling and threatening you. Meanwhile, you owe the landlord rent. GRA is chasing you. SSNIT has sent you a letter saying that they are taking you to court. The Municipal Assembly is chasing you to pay BOP. Employees are angry about the salary delay. You, one person, are fighting battles on multiple fronts. Such a dangerous undertaking. It can maim you for life!”

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.