One of the country’s renowned businessmen, Mike Mlombwa, has urged budding business people to exercise patience in their business undertakings.
Mlombwa, who is Countrywide Car Hire managing director, was speaking in Blantyre on
Thursday when he made a presentation at the Blantyre Entrepreneurs Pitch Night.
He said many budding entrepreneurs would like to grow into big corporate overnight which may not be possible.
“Take it step by step. Do not rush. When you realise a profit plough it back into the business. That way you will grow your enterprises,” said Mlombwa.
He also advised the youth against showing off, saying business requires one to be humble.
According to Mlombwa, most budding businessmen fail because they would like the whole world to know that they have money once they make their first profits.
“You will find that a businessman would like to drive a top of the range vehicle and live in a mansion from the first profits. No, doesn’it work that way.
“In addition, you have to work hard because business and laziness do not go together,” said Mlombwa.
Narrating his rags to riches story, the Indegionous Businesses Association of Malawi (Ibam) president said business people need to be clever and be on top of their game.
Responding to questions from the audience, Mlombwa spoke against the young entrepreneurs being too politically inclined, saying they run a risk of having their enterprises dying once a particular regime is gone.
“Politicians come and go. Business will still be there. Leave the politics to politicians and just concentrate on your undertakings,” said Mlombwa.
The Blantyre Entrepreneurs Pitch Night is a monthly event organised by the Success Guide Foundation and seeks to bring together experienced and budding entrepreneurs under one roof so that the youths could learn from established businesses.