Entrepreneur or "Buyam-Sellam"

Merriam-Webster Dictionary defines an entrepreneur simply as “one who organizes, manages, and assumes the risks of a business or enterprise.”

Several articles on online business platforms like Forbes and Business News Daily however find this definition lacking in many ways. For a true entrepreneur must not only be willing to take risks, but also be in possession of certain indispensable qualities; he or she must be innovative, be a visionary, and be tenacious.

In Cameroon, the business environment is fairly active. The opportunities abound, and many are obviously exploiting these opportunities. However, there is still tremendous room for growth. There are still very few entrepreneurs and a whole lot of “buyam-sellams”. When I use the term “buyam-sellam”, I am referring to the business owner whose sole business goal is to purchase goods/services and sell them at maximum profit at any specific point in time. Profit projections, demand forecasts and market analysis are all foreign to the average “buyam-sellam”. His or her focus is primarily on money that can be made immediately. In the long run, this is definitely not good for the business, the economy and ultimately the country.

In order to have our economy grow and significantly impact the country as a whole, we need less “buyam-sellams” and more entrepreneurs. We need businesses that will kindle competition and create jobs. We need business owners not only ready to take huge risks, but also bustling with innovative thinking and not afraid to push limits when setting goals. In this article I will like to address three main areas I believe the average “buyam-sellam” can work on in order to transition into being an entrepreneur. These are: “big picture thinking”, “vision setting” and “attention to detail”.

The business environment in Cameroon is no doubt very challenging. There are indeed many ways the government can improve conditions to facilitate the process of starting and running a business. For example bribery is a cancer that has eaten deeply into the Cameroonian business world and must be cut out. Instead of giving in to the status quo, business owners ought to work together to fight for fair taxation and a corruption free business system. Think BIG. Instead of offering a bribe to get out of a sticky situation on a given day or for a very short period of time, why not work TOGETHER to stand up against such evils and other malpractice. This has the potential to free you from ever having to give that bribe! This is what I mean by “seeing the big picture”. A true and loyal sense of solidarity among business owners is the only thing that stands a chance against a corrupt system. If the necessary measures are put in place, no one will have to face the challenges of corruption and taxation. In the long run, it is a win for everybody. Think about that before deciding to slip the tax officer a 10,000 FCFA note next time he stops at your place of business.

Most businesses in Cameroon do not seem to grow or evolve beyond a certain point. There is hardly any re-investment into the business once the initial capital has been spent. As such there is little or no growth/progress over a significant period of time. This is no doubt the scenario when leadership lacks vision. When one does not have a destination in mind, one can never get there. The absence of vision is clearly depicted in the stagnancy of most businesses, even the most successful ones. Let me illustrate my point with a typical example. In 1998, I began my relationship with Amour Mezam Express in Cameroon. For the next seven years I was a faithful customer as that was my primary means of transportation to and from school at the beginning and end of every school term. I was one of very many customers, and so considering the size of their clientele, business was not only good but also steady. But sadly almost 20 years later, Amour Mezam has barely improved as a transportation service provider. Last time I was at the agency in Yaoundé (about a year ago), it was still the tiny spot in “Biscuiterie”, with tickets dispensed from a shabby shack and buses squeezed into an unpaved messy courtyard. One would expect at least some percentage of profit to be used towards the improvement of facilities. Such will be a priority with any business that has a vision. Any business that is seeking more than just financial benefits.  Any business that is seeking to impact the market and society as a whole. I am sure you can list several other examples.

Human resources, advertising and customer service are very important aspects of business typically overlooked by most business owners in Cameroon. These are vital details they pay little or no attention to. More often than not, in an attempt to maximize profit, employees are underpaid and therefore under motivated. There are hardly any opportunities for professional development provided to them and due to the high unemployment rate in Cameroon, they are often made to feel easily dispensable; “If you no like am, then go. Some other person go take am.” How many businesses in Cameroon actually put aside a budget to invest in employees? Let us move on to advertising. Advertising is a powerful tool most Cameroonian business owners are yet to exploit. Word of mouth seems to be what is still mainly relied on in 2016. With social media, advertising has become so much easier, and many ought to learn from the likes of Penjo Entertainment and take advantage of platforms like Facebook, Instagram, Twitter etc. Finally there is customer service. I think we do not pay attention to this because we do not realize the power of customer service. An average product can have many loyal customers only because of great service. Most of us are very familiar with the rude service given by businesses in Cameroon, from road side vendors to fancy restaurants and private service providers. Once money has been collected, business owners pay almost no attention to customer satisfaction. This should not be the case.

In summary, business in Cameroon can be better. A better business climate has the potential to transform a country drastically. The US Small Business Administration (SBA) study on the relationship between entrepreneurship, unemployment, and economic growth using evidence from U.S. industries revealed that as a result of the financial crisis in 2007, entrepreneurship in several industrial sectors dropped, unemployment rose and growth declined. It is also important to note that the government cannot employ every national. In fact, in most countries, the private sector employs a significant majority of the citizens. For example, according to OECD, in 2013, the governments of countries like France, Belgium, Japan and the UK employed less than 30% of the total workforce. Therefore if Cameroon is going to tackle its high unemployment rate and improve its social and economic standing, true entrepreneurship must flourish. If you are a business owner or hoping to be one, the tips above could definitely positively impact your business endeavors and therefore improve the Cameroonian business environment as a whole.