General

Every entrepreneur faces unprecedented challenges in today’s world of rapid change and uncertainty. The economic landscape is shifting, global events shake the foundations of traditional business models, and the media often highlights turmoil instead of opportunity.  However, history shows that some of the greatest enterprises are born during times of crisis. It is precisely when the world seems to be in disarray that the entrepreneurial spirit can light the way toward growth and transformation. Today, I’ll borrow the words from Hassan Phills. Driving home, I was listening to Drake’s new album and suddenly heard him in an interlude saying, “You know what, man, we’re all in this. Now, whether we’re all in this together. Or you’re all in it for yourself. The fact of the matter is that we’re in it!” And mahn is he right! We are all in this together! So here are a few words of encouragement. STAY FOCUSED AMID TURBULENCE When chaos reigns, it’s easy to feel overwhelmed. The constant barrage of negative headlines and unpredictable market trends can paralyse even the most seasoned business owner. However, the most successful entrepreneurs know that these moments are opportunities in disguise. Embrace a Mindset of Resilience The first step in navigating turbulent times is to cultivate a mindset focused on resilience. When uncertainty is the norm, it becomes essential to shift your perspective from viewing obstacles as insurmountable problems to seeing them as challenges that refine your strategy and strengthen your resolve. The ability to focus on solutions rather than dwelling on the negative is what separates successful business leaders from those who succumb to the pressures of the day. Imagine a captain steering a ship through a storm: while the waves may be fierce, the captain’s unwavering focus on the horizon ensures the vessel stays on course. Practical Strategies for Maintaining Focus 1. Establish a Daily Routine: Begin your day with clear intentions. This could involve a short meditation, a review of your goals, or simply taking a moment to plan your day. A well-structured morning routine sets a positive tone and reinforces your commitment to your vision. 2. Invest in Continuous Learning: The market is ever-evolving, and staying informed is crucial. Dedicate time to learning new skills, exploring emerging trends and adapting your strategies. Whether it’s through online courses, reading industry publications, or engaging in peer discussions, constant learning is the fuel for innovation. 3. Build a Strong Support Network: Surround yourself with individuals who inspire and challenge you. This could be mentors, fellow entrepreneurs, or a trusted advisory board. Engaging with people who have a similar drive and vision can provide the motivation needed to push forward even during uncertain times. 4. Set Clear, Achievable Goals: Break your long-term vision into manageable, short-term objectives. This approach makes your goals more attainable and provides regular opportunities for celebration and progress tracking. Each small victory builds momentum for the next big step. DRAW INSPIRATION FROM SUCCESSFUL ENTERPRISES Across the globe, there are shining examples of business leaders who have not only weathered the storm but have built empires in the process. Their journeys remind us that success often stems from relentless determination, innovative thinking, and an unwavering commitment to growth. Learning from Trailblazers Consider the remarkable journeys of several entrepreneurs who started with modest means and went on to create multi-billion-dollar enterprises. Their stories serve as a beacon for all who aspire to build something meaningful, even in the face of adversity. I’ll try not to mention names, but I think you’ll know who I’m talking about. • The Visionary Industrialist: One entrepreneur transformed a small trading operation into one of the largest industrial empires in Africa. By capitalising on opportunities in the construction materials and food industries, he generated wealth and created thousands of jobs. His success was driven by a clear vision, strategic reinvestment, and an ability to see potential where others saw risk. • The Telecommunications Pioneer: In an environment riddled with regulatory hurdles and market scepticism, another business leader forged ahead to build a major telecom and technology conglomerate. His journey was marked by years of perseverance, where every setback only fuelled a greater drive to succeed. Today, his company is a testament to the power of innovative thinking and strategic risk-taking. • The Tech Innovator: Across the continent, a tech entrepreneur broke through barriers in an industry often dominated by well-established global players. By focusing on tailored software solutions and deepening her understanding of local market needs, she scaled her business rapidly, positioning herself as a leader in African innovation. Her success underscores the importance of niche expertise and a commitment to addressing real-world challenges. NAVIGATING DISAPPOINTMENT AND SETBACKS No entrepreneurial journey is without its share of disappointments. Whether public or private, failures are an inevitable part of the process. What sets successful entrepreneurs apart is not their avoidance of failure but their ability to bounce back stronger after setbacks. Redefining Failure Failure is often seen as a negative endpoint, a sign that something went wrong. In reality, it is an essential part of the learning curve. Each misstep offers invaluable lessons that, if harnessed correctly, can lead to future success. Think of every setback as a stepping stone on your path to greatness. Strategies for Overcoming Disappointment 1. Accept and Learn: When a project or idea doesn’t pan out, take the time to analyse what went wrong without assigning blame. Understand the factors that contributed to the failure and use that knowledge to refine your approach. Remember, every failure carries the seeds of future success. 2. Adapt and Innovate: Flexibility is key in a rapidly changing market. If one strategy fails, be prepared to pivot. Innovation often emerges from the necessity to overcome obstacles. Reassess your business model, explore alternative avenues, and be open to new ideas that may propel you forward. 3. Seek Guidance: No one achieves greatness alone. Contact mentors, peers, and industry experts who can offer insights and provide a fresh perspective on your challenges. Their experiences and advice can be instrumental in helping you navigate through difficult times. 4. Maintain a Balanced Perspective: It’s important to celebrate successes, no

What is the weight of a promise? A promise is a powerful thing. In law and in business, not every promise carries weight. Some promises are just words, while others can land you in court if you break them. I came across this legal principle while preparing an academic submission for my ongoing Master of Laws degree studies. It’s something every entrepreneur should understand.  Ever wondered why some handshake deals stand firm while others collapse the moment something goes wrong? Or why verbal agreements sometimes hold up in court and other times mean nothing at all? That’s because not all promises are legally binding. There’s a fine line between a casual commitment and an enforceable contract. Understanding that line can save you from serious business pitfalls. I’ve asked myself before, “What makes a promise legally binding?” I also wondered why some promises don’t need a written contract and how businesses can protect themselves when making agreements. Whether you’re an entrepreneur, an executive, or just someone who wants to avoid making costly promises, I think I just found the answers. Before we dive in, a quick note: this article is for informational purposes only and does not constitute legal advice. While I’ve drawn on credible sources and case law to provide insights, every legal situation is different. If you’re facing a contract dispute or need tailored guidance, always consult a qualified legal professional. Now, let’s get into it. The Basics: What Makes a Promise Legally Binding? Not every promise is a contract, and not every contract is enforceable. A promise only becomes legally binding when certain key elements are present. It’s not just about saying, “I promise.” There has to be structure, intent, and something of value exchanged. The four core elements that make a promise enforceable are: 1. Offer – One party proposes a deal. 2. Acceptance – The other party agrees to the terms. 3. Consideration – Something of value is exchanged. 4. Intention to Create Legal Relations – Both parties must mean business. If any of these elements are missing, you might have a moral or ethical obligation, but not necessarily a legalone. For example, if you casually promise to buy your friend lunch next week, there’s no consideration(nothing is being exchanged), so the law won’t step in if you change your mind. But let’s say you’re running a business, and you promise to pay a supplier extra to speed up delivery. Is that promise binding? It depends, because consideration and intention to create legal relations become critical. Understanding these basics will help you navigate agreements, protect your business, and avoid costly misunderstandings. The Role of Consideration (What Are You Giving in Return?) In contract law, a promise is usually only binding if something of value, also known as “consideration”, is exchanged. This is what separates a legally enforceable promise from a casual statement. What is Consideration? Consideration is the value given in return for a promise. It can be: • Money (paying for a product or service) • Goods or services (trading skills or products) • A promise to do something (e.g., completing a job by a deadline) • A promise not to do something (e.g., agreeing not to compete in a particular market) No Consideration, No Contract (Usually!) A promise without consideration is just a gift. It is not a legally binding contract. If someone says, “I’ll give you $1,000 next week,” but you give nothing in return, they can change their mind, and you can’t sue them for it. But let’s look at a real business scenario. Case Example – Williams v Roffey Bros [1990] A contractor in the UK (Roffey Bros) promised to pay a subcontractor (Williams) extra money to finish a job on time. The court ruled this was a legally binding promise because Roffey Bros gained a practical benefit by avoiding late penalties and project delays. Even though Williams was already contractually obligated to do the work, the extra payment was enforceable because it gave Roffey Bros real, measurable value. Exceptions: When Consideration Isn’t Needed There are times when a promise can be enforced without consideration, such as under promissory estoppel, when breaking it would cause significant harm to the other party. So, if breaking your promise causes damage to the promisee, then the promisor might be liable. Why Consideration Matters for Entrepreneurs If you’re making a business deal, always ensure there’s something of value being exchanged: it protects both sides. Without consideration, a promise is just words, and in business, words alone aren’t enough. Promises in Business: Verbal vs. Written Agreements In business, deals are made every day, some with contracts, some with just a handshake. But when it comes to legal enforceability, is a verbal promise enough? The answer: sometimes, but not always. When is a Verbal Agreement Binding? In most cases, verbal agreements can be legally binding if they meet the basic contract requirements as earlier outlined in the article: offer, acceptance, consideration, and intention to create legal relations. If all four elements exist, a spoken agreement can hold just as much weight as a written one. For example, if you verbally agree to supply a client with 10,000 units of a product at a set price, and they accept, you could be held to that promise, even if there’s no written contract. Courts have enforced oral contracts in cases where there was clear proof of agreement and reliance on the promise. Why Written Contracts Are Critical in Business Despite verbal agreements being potentially enforceable, written contracts eliminate doubt. They: Certain contracts must be in writing to be valid, including: Common Business Mistakes with Verbal Agreements Many entrepreneurs fall into these traps: The Bottom Line If the deal is significant, ensure it is documented. While verbal agreements may hold validity in certain circumstances, in business, a written contract reduces risk and protects all parties involved. Exceptions: When a Promise is Enforceable Without Consideration Typically, a promise is only binding if there’s consideration (something of value exchanged between the parties). But contract law isn’t always that rigid. There are exceptions where a promise can still be enforced even when nothing is given in return. 1. Promissory Estoppel: When Breaking a Promise Is Unfair Promissory estoppel protects someone who has relied on a promise and would suffer harm if it were broken. Example: A landlord tells a struggling tenant, “Don’t worry about paying rent for the next three months.” If the tenant relies

Successful brands, especially those on the rise in their early stages, almost always have a silent partner. His name is advertising.  Advertising is the engine that drives visibility, converts leads into sales, and keeps businesses feeling like they’re performing well, at least in the short term. But here’s the catch: even the best advertising campaigns crumble if the product or service doesn’t hold its own. A business that leans too heavily on ads without delivering value is destined to fall flat. This is why I never ran a single advert about a decade after founding Maxwell Investments Group and its affiliates. Instead, I’ve focused on organic growth, the kind built on a foundation of trust, genuine value, and community engagement. It’s harder to achieve, but when done right, it offers longevity, something advertising cannot. The Pitfall of Dependency on Advertising Advertising can feel like a magic wand for businesses. A well-placed campaign can attract attention, generate leads, and even create the illusion of success. But what happens when the ads stop running? For brands that rely solely on advertising, the answer is simple: everything stops. Many businesses fall into the trap of equating advertising performance with business performance. The danger here is that advertising can mask deeper flaws, such as a weak product, poor customer retention, or a lack of genuine demand. Without a solid foundation, a brand built on ads alone is like a house of cards – impressive until the wind blows. History is full of examples. Think of startups that spent millions on flashy campaigns to capture attention but failed to deliver value, eventually burning out. Advertising may bring people to the door, but if what’s behind that door doesn’t meet expectations, those customers won’t return. At Maxwell Investments Group, we’ve never leaned on advertising. Instead, we’ve built systems, services, and products that stand on their own. Ads can amplify success, but they can’t create it from nothing. True growth comes from offering something people genuinely need and want, a principle that advertising alone can’t replace. The Power of Organic Growth There’s something deeply satisfying about knowing that your growth is rooted in genuine value. Organic growth, the kind that happens without heavy reliance on advertising, is rewarding and transformative. It’s a testament to the quality of your product, your service, and the trust you’ve built with your community. Organic performance has been the cornerstone of our journey. For about a decade, we’ve focused on creating value that speaks for itself. The result is Growth driven by word of mouth, strong relationships, and a reputation for delivering solutions that work. Organic growth takes time, effort, and resilience. It’s not about quick wins but about building something sustainable. Unlike advertising-driven growth, which often depends on external inputs, organic growth is self-sustaining. Its exponential benefits lie in its ability to snowball. Happy customers become advocates, and your value becomes your marketing. It’s a more challenging path, yes, but it’s priceless. When your product grows organically, it doesn’t only boost sales; it boosts confidence. You know you’re succeeding because you’re solving real problems, not because of a clever tagline or a flashy campaign. Community as a Catalyst for Growth Growth without a community is like planting seeds in barren soil. For a business to thrive, it must first earn its place within a community and then build one around its values and vision. For Maxwell Investments Group, the journey started with the Ghanaian agro-community. We didn’t impose ourselves; we earned our way in by understanding the community’s needs, respecting its culture, and delivering value. From there, we built a larger ecosystem, one centred on shared goals and mutual progress. A strong community fuels organic growth in ways advertising never can. It creates loyalty, fosters trust, and generates a feedback loop that constantly improves your product or service. When people feel like they are part of something bigger, they move from being just customers to being advocates, collaborators, and partners in your success. But all of this hinges on one critical factor: the product must work. Our MIG communities will continue to support our shared vision through our businesses as long as our solutions are affordable and accessible and solve real problems. The combination of a great product and a strong community drives lasting growth, and that’s precisely how the MIG Ecosystem came to life. The Feedback Loop of Organic Growth One of the most powerful advantages of organic growth is the feedback loop it creates. When your business is closely tied to the community it serves, you’re constantly learning, improving, and refining. Every interaction, every purchase, and every conversation becomes a source of insight. For Maxwell Investments Group, this feedback loop has been transformative. By staying connected to the agro-community and listening to what works and what doesn’t, we’ve been able to adapt our products and services to meet real needs. It’s a continuous cycle: better products lead to happier customers, which leads to more trust and loyalty, which fuels further improvements. Advertising cannot replicate this organic optimisation. Ads may bring attention, but they don’t tell you what’s broken or what could be better. A feedback loop, on the other hand, creates a direct line between the business and its users, ensuring that growth is sustainable and grounded in reality. When growth comes from within, driven by a product or service that genuinely resonates, it’s exponential. Every cycle of feedback and improvement builds on the last, creating a momentum that advertising alone could never achieve. When Advertising Becomes a Tool, Not a Crutch Advertising has its place, but only when it’s used to amplify, not substitute, a solid foundation. A great product or service that grows organically can benefit immensely from the right advertising. It’s the cherry on top, not the cake itself. Advertising has not been necessary for Maxwell Investments Group because our growth has been organic. But if and when advertising is introduced, it will be to give an extra push to products and services that the community has already