If your business is not going according to plan, flip the script and do not be consumed by fear, says Brand-building consultant Christine-Rita Abankwah. Abankwah, who is the founder of Secure the Bag Africa, further advised youth tapping into the world of business to look into their financial positions, customer base and market, competitor analysis and business goals – and then see how their core activities can evolve to add value to their business.
“You have to trust that the expertise you have gained and knowledge you have from your achievements and failures can be transferred into your next venture,” she said.
Abankwah was speaking during an interview with BBC on the Money Daily Show, which shed light on the implications of entrepreneurs clinging onto their ventures, knowing they are heading for the worst.
She said: “If you insist on sticking to the original idea as it was in your head – and ignoring the warning signs that you are headed towards total disaster or unnecessary difficulty, and not seeing the new solutions that are presented to you, then you run the risk of self-sabotaging”.
Abankwah, who also heads various management and media consultancy firms, stressed the importance of developing a business continuity plan, saying many small businesses do not do that enough.
She said if entrepreneurs find that one of their business aspects are not working, it’s an indication there is a need to pivot and change into a different direction. Moving differently or re-strategising would be the ideal step to take.
“An idea is a tool; it is a manifestation of the purpose or essence of the business and we need to remember that when you are solving a problem, it is multidimensional and never
what it appears to be at first glance.”
Secure the Bag Africa holds frequent webinars, facilitated by professionals and thought leaders from across Africa and the diaspora, with topics ranging from business, career and leadership to personal development and emotional wellbeing.