Daring To Succeed in Business: A Decade Worth of Experiences
Intro
What does it take to create a business that will last for a long time? What steps can you take to make that a reality? Lady Fafa (also known as ZoeFafa) joins us today to talk about her decade-long experience in business and to share her wisdom.
Guest Bio
Lady Fafa Atsupi Amegah is the CEO and Fashion Artist of ZOEFAFA. She founded the company over ten years ago. ZOEFAFA designs footwear, earrings, chains, and other fashion accessories, and uses the macramé style in many of their products.
Q: What are some of the challenges in starting your own business?
The challenges are a lot. Anyone who wants to go into business should not think it’s going to be given to them on a silver platter. If you go in with that mindset, you will quickly give up. You should be ready to face a challenge.
Money and capital were also a big challenge. Trying to get the raw materials was also a challenge. We were trying to make quality footwear [first product], but the high quality demanded a lot of capital. Buying directly from the source can get you the best quality, but it will cost a lot. Another thing to keep in mind when it comes to money is investors. You need to make your company look inviting to those who have the ability to invest.
Q: What is your approach to acquiring capital?
I made connections when I was working at the National Service. When I was getting started, a few of my suppliers sold me supplies for lower rates, which they said was their way of investing in my company. So, when I went all in on the company, I had some capital from beforehand. And then, when I sold for a profit, I would use the profit to buy more.
I told myself that I would not use loans for my business. I wanted to build up that self-discipline and that was challenging too. Even when it was difficult, I never went in for a loan. I only reinvested the profits into growing the company.
Q: Where are you now?
ZOEFAFA is on a journey. We have not gotten anywhere yet. People might say, “but you have products in several countries.” Anywhere is a place that implies we have achieved what we want to achieve, and have nowhere else to go. Our company is still on a journey to get better. We have products in Canada, Poland, Sierra Leone, but we are continuing to push the boundaries.
We do not export our products internationally yet. Individuals have bought our wares here, and bring them around the world to re-sell. Eventually, we may reach the stage where we can do that, but we are not there yet. So that is why we are on a journey: to constantly improve.
Q: What can you say to those of us who have ideas, but have not done anything about them yet?
For me, the goals weren’t written in a book. I prayed about it. I asked for direction. I think it’s always good to pray over it, then push to go forward. Embrace your challenges. People who succeed without challenge lose their drive to keep pushing. Keep your focus on your goals and push through the challenges. Pursue your dreams!
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