Young Entrepreneurs Advised Against Setting Unrealistic Targets

Chief Executive of Tropical Cables and Conductors Limited, Tony Oteng-Gyasi is advising young entrepreneurs to desist from setting unrealistic targets in their business plans. He said the huge expectations of business startups must be managed so they don’t get too disappointed when things go bad. Mr. Oteng-Gyasi was addressing the ten finalists of Joy FM’s entrepreneur mentorship program MyBusiness 2010 on “How to present a good business plan”. He said the “business plan should be a logical analysis of the long term sustainability of your business idea – it should follow through, it should make good reason, it should be analytical, it should be mathematical, there should be numbers in there.” Mr. Oteng-Gyasi warned, “Don’t allow anybody to tell you that Ghana has 20 million people so if you can get one million of them to buy your product then you will make money…that is not a good basis for estimating your market size.”