Kelvin Worgu is a member of the Institute of Business Strategy (IBS). In this chat, he tells INNOCENT ENETA the challenges he faces as an entrepreneur
What is your driving force as an entrepreneur?
It is the desire to succeed and impact those around me. This is because success attracts friendship and goodwill, which is part of our lives.
Since you entered into the oil and gas industry, what has been your biggest challenge?
Unfavourable government policies and the volatility of the industry. The hindrances to sourcing funds from financial institutions, even with high interest rates, and others. But government should set aside a statutory or consolidated fund for marketers to access for start-ups or expansion.
How long have you been in the industry?
Close to 15 years.
Startups are faced with different challenges. What are the ones peculiar to your industry and how did you surmount them?
To remain relevant in the industry given its dynamism, one must be constantly innovative; otherwise, your business will crumble. And you must put in a very reasonable time.
What can you show to prospective investors to attract their interest?
I have executed a couple of business transactions on my own and in collaboration with associates.
How have you been able to contribute to the management o oil spills in the Niger Delta?
By giving my own suggestions and perspectives as well as attending workshops designed to deliberate and proffer solutions to the problems of oil spills. Drawing attention to the effect that all hands must be on deck and that sincerity of purpose should be the underlying factor or key driving force to addressing the ugly situation.
What is your plan for your business in the next 10 years?
I intend to diversify my line of business to include consultancy services, initiate business incubation to help newcomers to achieve their dreams, but most importantly, for my brand to become a household name across Africa.
Capital and mentorship, which one will you say is more important for an entrepreneur to succeed as a start-up?
Mentorship should be rated or placed above capital for obvious reasons.
What have been your best and worst moments in the industry?
My best moment, as far as I can remember, were those times I executed business transactions efficiently in record time with ease and professionalism, which endeared me to a lot of clients. My worst moment was when I lost funds to traitors whom I thought were trusted allies. Having enough capital does not guarantee Success or headway, but quality information and practical knowledge gives you confidence and drive to push through.
In what way has your family been supportive to your business?
That is one aspect that has given me peace of mind. I have a caring family that has given me so much moral support, etc to succeed.
What are your educational qualifications?
I have professional qualifications other than degrees, from the Institute of Business Strategy
What is your advice to the younger ones who want to come into the industry?
They should get basic education and proper information regarding the industry. The desire to make money should not be the primary motivation, but to add value. Acquisition of experience for sustainability is more important.
