We’ve compiled a list of quotes from serial entrepreneur and investor, Freddie Achom.
Achom is the CEO of Rosemont Group Capital Partners the London based early stage investment firm.
Freddie Achom on entrepreneurship
1. I’ve never been confined to an industry or market sector. I am a very analytical and data driven type of individual, which is crucial in becoming an investor. Of course you need to be passionate about the business you set up. Source
2. Have a clear understanding of your business, the market sector, have a clear USP that separates you from your competition and be flexible in executing your idea. Source
3. I’m a firm believer in that adage that you should “never put all your eggs in one basket.” I’ve seen many entrepreneurs spiral downwards financially due to pigeonholing themselves in one sector, which I don’t subscribe to at all. Source
4. You must look at the size of the market; scalability of your business proposition; value proposition itself, and have a clear road map most of all on how to execute. Source
5. The great thing about having access to the Internet is that you can start a tech company from your bedroom with little resources. Source
6. I always say go into places you shouldn’t be in, that’s what I love most, I love being in a room that I shouldn’t be in. Source
7. I admire a lot of entrepreneurs for their open-mindedness and their willingness to see beyond certain stereotypes. Source
8. I simply try to balance by prioritizing but never sacrificing my family and children for work. Source
9. I think where many entrepreneurs go wrong is placing too much emphasis on work and neglecting their family. Source
10. Represent your product because you just have to understand your product in and out and therefore you are your product. Source
11. The best products, the best solutions, can be explained in 20 seconds flat because simplicity is always the best. Source
Freddie Achom on investing in start-ups
12. As a founder, you need to be able to have a very expansive mindset and say, “Okay, the product was supposed to do this, but maybe we’re onto something because this group of people is using it this way.
13. We look for products and solutions that are globally scalable and are not just single market focused. Source
14. I am a very analytical and data-driven type of individual, which is crucial in becoming an investor.
Freddie Achom on entrepreneurship in Africa
15. Anyone who claims to be an entrepreneur would be shortsighted to disregard Africa. I believe Africa is the way forward, the resources, and the growth over the next ten to fifteen years will surpass any other continent. Entrepreneurs should look at Africa as an option to conduct business or explore in general. Source
16. I strongly believe that it’s only a matter of time until the digital tech space in Africa will begin to evolve more rapidly due to the rising growth in population, which will soon translate to larger demand for tech services that will give birth to more e-commerce and social media platforms similar to the rapid rise of telecoms in Africa. Source
17. A lot of African entrepreneurs are not bound by sectors, not bound by particular industries or sets of rules, they have this mentality that they will learn on the job. Source
Freddie Achom on dealing with setbacks
18. I recently watched a PBS documentary on Barack Obama, and it described how he lost to Bobby Rush in the year 2000 to become elected into the U.S House of Representatives. Rush also went on to verbally insult him by calling him an educated fool. Imagine if he won, he most probably wouldn’t run or become the President of United States. Young people need to read this. Source
19. Failure, to me, is the pathway that leads to success; so temporary failure is a great thing. Source
Freddie Achom on self-belief
20. Once you have convictions in your ability you are already halfway there. Source
21. Whenever I had a setback or a negative thing occurred, I took it has a personal challenge for me to overcome. Source
22. I would not change anything in the past because everything I’ve done led me to where I am today. Source
23. Most people’s fear in business is fear of failure, but failure is not a destiny but a pathway to achievement, so I always try to keep that in mind. Source
24. There is a talent to opening doors. Not everyone can approach a company or an individual unannounced. You have to be very bold. You have to be very thick-skinned. Source
25. I am a great motivator and I love getting the best out of people. Source
26. I like pushing people to achieve what they feel is beyond their ability. Seeing people succeed is the best part. Source
27. If you believe your race is a barrier preventing you from moving forward then it will.
28. Without self-belief it’s impossible to achieve your desired outcomes.
29. If you want to reach any worthwhile goal, don’t seek instant gratification.
30. I spent my time increasing my knowledge on diverse topics so that , if a conversation will spark between me and someone, I will have an opinion on it.
For more great content, visit freddieachom.com.