- Could you kindly introduce yourself?
I am Tawfiq Abu ,a final year Ghanaian medical student in morocco, and co-owner of ARGANA NG Enterprise.
2. Tell us all about argan oil.
In a nutshell, argan oil is an organic product extracted from the kernels of the argan tree, which is native to the south of Morocco. It is extremely rich in beneficial nutrients including fatty acids; Omega-6 fatty acids, Omega-3 fatty acids, vitamin A and E. It also packs antioxidants and linoleic acid. Its properties make it particularly beneficial for the hair and skin, which makes it a popular cosmetic and medicinal choice.
3 . What gave you the idea of distributing argan oil?
Studying and living in the country where argan oil originates, Morocco, I got to experience, first-hand, the effects of this oil; it’s soothing, healing, restorative and economic effects as well. I observed as large corporations and organisations came from the west to gain access to this oil and this led me to do a research on its knowledge and popularity on the African continent, precisely starting with my native country, Ghana. My checks revealed that, though not a foreign term to many, little was known about the oil and its effects. Only a select few knew of it and used it. Then came the decision to tap into an untapped area and distribute argan oil.
4. Did you tell people about your idea? How did they receive it?
Yes! I did. I conducted a market research and drew up questionnaires as well. I used friends and family as channels as well to get more info from others about the oil. Many were intrigued and interested to know more about it.
5. What kind of market did you have in mind for the product?
I had the cosmetic/beauty and pharmaceutical industry in mind.
6. How difficult was it to start?
Having been out of the country for a while, I had to grapple with blending into the business terrain of the country. Having to go through the bureaucracy and tediousness of getting certifications and documentations as well as the costs of getting these things done. Another challenge had to do with capital. Knowing how difficult it was to gain access to loan facilities in the country, I had to struggle to make do with my savings, which weren’t much, and rely on family and a few friends as well. The high cost of importation and duties at ports was a problem. Distribution was also another challenge.
7. What challenges do you face on a day-to-day basis?
Trying to stay competitive in terms of price, dealing with debtors and cash flow, fake products on the market and instability of forex rates.
8. How do you market your business?
We employ social media as one of our major tools to reaching out to the consuming public that have access to the internet. We also arrange meetings with heads of organisations, companies and shops as well. We send out tailor-made proposals as well. We use the print media as well by printing flyers and brochures and distributing them to major points across the city. We also go on the ground, conducting one-on-one marketing to individuals and will soon be employing the network-marketing approach, which will see us roll out a reward program.
9. What has the response to your product been so far?
As it is with every new product, slow initially, but improving over the years and now gaining momentum as people experience its great effects.
10. What do you think about the cosmetic industry in Ghana?
I think it is a booming market and has come to stay.
11. Do you have any employees? What does someone have to do to work with you?
Yes. We have a few employees. What it takes to work for Argana NG Enterprise, is to simply be a God-fearing, result-driven, goal-oriented, strategic-thinking, proactive, smart and studious person. How hard can it be to work with Argana NG then? Not hard at all!
12. How does entrepreneurship compare to a regular job?
Being self-employed means having more freedom in deciding the workload and work hours, as well as having less supervision in terms of how the work is done. Of course, it is not that simple. One aspect that differentiates entrepreneurship and employment is the amount of risk incurred. An employee has a relatively low amount of risk. In most situations, the employee is only responsible for his/her work responsibilities during the designated business hours, and they are often entitled to certain benefits from the organization. Being an entrepreneur means taking on a challenge and working hard to get through it. Getting a new career or building a business is never easy, and not everybody will support you in your journey. They say every business needs at least 2-5 years to grow and prosper and start getting significant return on investments; and I’m talking about 2-5 years of dedication and hard work…..but to be honest with you, the results are worth the struggle.
13. What have you learnt about running a business that no one could have told you before you started?
In business one cannot afford to remain conservative as I have come to learn ever since I ventured into the world of entrepreneurship. With changing trends and times, a business has to learn to adapt to changes, desires, information, technology et cetera else one will be left trailing.
14. What can government do to help young entrepreneurs?
From our study of the early beginnings of successful large corporations like, Samsung, Hyundai et cetera we have come to see how these family-owned businesses were given support and incentives over a long period of time by their governments which has seen them grow through the times and seasons and are what they are today. I believe the government can emulate these examples. No need to re-invent the wheel. I will like to commend His Excellency, Nana Akuffo-Addo, for the step taken to boost the area of entrepreneurship, by setting up a ministry for business development. Much as this is commendable, I believe more can be done. I believe the government should engage every entrepreneurial thinking youth at the graduate level towards understanding better the areas of business they seek to venture into. With tax cuts, training and incentives, these businesses will grow and expand, absorbing the burden of high rate of unemployment from the shoulders of the government.
15. Any advice to other entrepreneurs or would-be entrepreneurs?
I will say, be prepared: as an entrepreneur you will be responsible for all of the financial costs of the organization, for marketing and promoting yourself, and for gaining your clientele. Entrepreneurs’ days don’t go from 9am till 5pm, and they are always working on ways to improve their organization. In addition, the entrepreneur can also be held legally liable for the organization, which is a personal risk, as well as a business risk. However, you must not let these risks make you apprehensive towards taking the entrepreneurial path. Another important aspect of successful entrepreneurship is mentorship. Having someone in the field who can teach you and guide you through the needs and responsibilities of the industry is incredibly important. So, do not be afraid to join various networking events, or to pursue employment in the field first, before venturing out on your own. One more tip to becoming a successful entrepreneur is to be properly educated. A strong educational foundation is good for any career, whether you would prefer to just be an employee or start your own business.
16. How can someone get your products for wholesale or retail?
For wholesale or retail one can contact us through twitter, instagram, facebook or call us on 0553285411. You can also visit our website.
17. Are you present nationwide? If not, any plans to expand soon?
We operate from Accra but do deliveries nationwide and have partnered with shops in Koforidua, Wa and Tamale. We are looking for more retail outlets to partner in various regions and currently in discussions with a few.
18. Anything else you’d like to share?
Partnership is very important and I learn that each day working with my partners Joseph, Bassit and Frederick. Makes the challenges we come across look easier than they are.
Thank you!
[…] though not a foreign term to many, little was known about the oil and its effects,” Abu told CediTalk. “Only a select few knew of it and used it. Then came the decision to tap into an untapped area […]
[…] though not a foreign term to many, little was known about the oil and its effects,” Abu told CediTalk. “Only a select few knew of it and used it. Then came the decision to tap into an untapped area […]