Maduka urges entrepreneurs to embrace legitimate business

Cosmos Maduka, chairman and chief executive officer, Coscharis Group has advised entrepreneurs to embrace the culture of hard work and engagement in legitimate business that demands determination, to achieve success.

Maduka, who was the guest speaker at the maiden edition of the total life empowerment conference, held in Aba, the commercial hub of Abia State, also noted that enduring business is not a product of chance, stressing that an entrepreneur must have a clear vision of the organisation he/she wants to build.

He advised anyone with a dream of creating a big enterprise or developing a programme not to wait a moment longer before taking the next step.

He advised such budding entrepreneurs to translate the dream to action, by picking and remaining focused in the business they thoroughly understand, find seed capital and religiously keep to commitments and get the banks to support the company.

The executive director of Coscharis advised that they should not spend too much money in office space and self serving activities, defining gratification and resisting temptation to show, by outward appearance that they have arrived.

Maduka, an astute entrepreneur also advised that they should keep proper and complete record of all transactions and keep track of all activities in the organisation, hire professional managers and make sure there is a clear job description for each of them.

“We must understand the reason why we are called entrepreneurs. Our ability to create wealth and make the world a better place to live and the education we profess should be for peace and progress,” he said.

He stated that companies that make best practices a priority are thirsty, thriving and learning and believe that everyone should always be searching for a better way, noting that such companies are filled with energy, curiosity for a spirit of can do.

According to him, every journey must begin with a first step. “Ours started 40 years ago with only N200. We did not become a conglomerate right away. The journey has been long and hard. Many times we were tempted to throw in the towel, but we had a clear vision…a dream.

He urged entrepreneurs to set up a five-year growth and development goal for their various organisations and decide which company or organisation to benchmark during the period.

“Ours is an education that must bring justice to the unjust; it must fix our economy; tell our stories; find cleaner sources of energy; build ethical businesses to take over the Forbes list; make academy award winning movies; develop technology for the next century; and bring hope and justice to those that shall come through our hands that Nigeria can move from a mere possibility to a reality more powerful than we ever imagined,” he added.

GODFREY OFURUM