Business News of Tuesday, 15 October 2024
Source: thebftonline.com
Dr. Maxwell Ampong emphasizes that early-stage founders often mistakenly view company funds as personal assets, leading to extravagant spending on unnecessary luxuries like fancy offices and equipment.
He advocates for a frugal, company-first mentality, urging entrepreneurs to prioritize business growth over personal comfort.
Successful founders invest everything back into their companies, embrace hard work, and make deliberate spending choices.
By maintaining discipline and focusing on sustainable growth, they can avoid the pitfalls of flashy appearances and ensure long-term success.
Ampong encourages founders to assess their commitment and readiness for the entrepreneurial journey.