Introduction
Ernest Bediako Sarpong, founder and CEO of Ernest Chemists Limited, is one of Ghana’s most successful entrepreneurs.
From humble beginnings as a pharmacy student selling medicines on the streets, he built a pharmaceutical empire that now employs over 650 people.
Here are 10 key success secrets we can learn from his remarkable journey:
1. Start small but dream big: Sarpong started with just one small pharmacy shop in 1986. But he had a vision to build it into one of Africa’s leading pharmaceutical companies. He dreamed big while starting small.
2. Be patient and persistent: It took years of hard work and persistence for Sarpong to grow his business. He was patient and kept pushing forward even when faced with challenges.
3. Reinvest profits into the business: In the early days, Sarpong lived frugally and plowed all profits back into growing the business rather than spending on luxuries. This allowed for rapid expansion.
4. Seize opportunities: Sarpong was always on the lookout for new business opportunities, whether it was representing multinational pharma companies or expanding into manufacturing. He was quick to grab promising opportunities.
5. Focus on quality and customer satisfaction: Ernest Chemists built its reputation on providing high-quality medicines and excellent customer service. This focus on quality fueled its growth.
6. Diversify strategically: The company expanded from retail into wholesale, manufacturing, and exports. This diversification reduced risks and opened new avenues for growth.
7. Empower and mentor others: Sarpong mentored his siblings and children to also become successful in the pharmaceutical business. He believes in empowering others.
8. Maintain high ethical standards: Honesty, integrity and maintaining credibility with suppliers and partners has been key to Sarpong’s success and reputation.
9. Be humble and down-to-earth: Despite his wealth and success, Sarpong remains humble and approachable. This has earned him respect from employees and peers.
10. Give back to society: Through various philanthropic initiatives, Sarpong gives back to communities and causes he cares about. This creates goodwill for the business.
Conclusion
Ernest Bediako Sarpong’s journey from a small pharmacy to a pharmaceutical giant offers valuable lessons for aspiring entrepreneurs. His success has been built on a foundation of hard work, integrity, strategic thinking and giving back to society. By starting small, dreaming big, and staying focused on quality and customer satisfaction, he was able to steadily grow his business over decades.
Sarpong’s story also highlights the importance of reinvesting profits, seizing opportunities, and diversifying strategically to build a sustainable business empire. Perhaps most importantly, his humility and commitment to empowering others shows that true success comes not just from personal achievements, but from lifting others up along the way.
For young entrepreneurs looking to make their mark, Ernest Bediako Sarpong’s life and career offer an inspiring roadmap of how to build a successful and impactful business from the ground up through vision, persistence and unwavering commitment to one’s values. His journey is a testament to the entrepreneurial potential that exists in Ghana and Africa as a whole.
References:
- https://whoswhoghana.app/entrepreneurs/ernest-bediako-sampong/
- The Hard Truth with Mr Ernest Bediako Sampong
- Competition has forced my business to grow – Ernest Chemist CEO
- Putting your head in the game and keeping it there
- CEO of Ernest Chemists Speaks on JoySMS (17-1-19)
- BOLA RAY INTERVIEWS OWNER OF ERNEST CHEMIST
- Glean Insights from the Experiences of Three of the Top CEOs in Ghana on Joy Business News (23-5-18)
- https://en.wikipedia.org/wiki/Ernest_Bediako_Sampong
- https://ghanaceosummit.com/speaker/ernest-bediako-sampong/
- https://emyafrica.com/ernest-bediako-sampong-man-of-the-year/
- https://goodmanamc.blogspot.com/p/ernest-bediako-sampong-280-million-ceo.html
- https://thevaultznews.com/20mobpl2d/mr-sampongs-profile/
Inspiring Net 