“I had to sell my iPhone to Start the business” Says Young And Successful Student CEO

A student identified as Patricia Asare, has come out to tell the world about her inspiring entrepreneurial journey.

One of the inspiring elements of her story was how she birthed her business idea.

Patricia Asare, a former Legon student at the University of Ghana stated that the idea to start a microfinance business dropped during a a prayer session with the Campus Fellowship.

It actually dawaned on her that she could really lend money to students and make a profit through the interests.

She immediately went back to her dorm room that day and pondered on this idea and realized that it would be a profitable one.

She swinged into action to turn her idea to a physical business.

She stated that her major limitation was the fact that she didn’t have any capital to start her business.

So inorder to turn her dreams and idea into reality, she had to make a sacrifice. After no pain, no gain.

Selling your iPhone would be one of those impossible things for students to do these days, but she did it.

“I had no money readily available to start my venture so I chose to sell the iPhone I was using at the time to raise the capital I needed”

Her Mini microfinance business started and she started lending money loans to students who were in need and in due time, they would pay back with interest and she would keep the interest as profit.

She was lucky to have some of her friends who proved to be true friends and supported her in every way that they could.

At that time her hostel room was her office, where students would come to patronize her.

As time went on, her business Started growing and then she realized that after graduation, she was going to do this thing full time.

In her words: “By the time I completed, I was well aware of the potential of my business to grow bigger than it currently was and so the next step was to get it registered with the Bank of Ghana and I also made sure all the necessary licenses to ensure smooth operation of the business were acquired”

She also enrolled in a number of business programs to learn more about running a business and interned with consulting firms to broaden her business management knowledge.

The Next interesting thing about her business was her parents’ reaction to her owning and managing a business while studying.

“Parents being ‘parent’, they were unhappy that I was running a business in school instead of fully focusing on the reason for which I was in school but eventually, they came around. They were even so proud of me to the extent that they invested in my business,” she disclosed

She also stated that one of those things that helped her scale her business was getting her business funded and sponsored by different individuals.

In her words: “Along the line, a friend of mine introduced me to a man who thankfully became my first investor, I also received grants from UKAid through Technoserve and my parents support me from time to time”

For Patricia, being a business owner at less than 25 years was very challenging. It required a lot of discipline, proper management and resilience but the ultimate goal to build a better and sustainable future for herself is what keeps her going all the times.

To the young ones who wish to run their own businesses someday, the micro-finance CEO encouraged them to always remember that they are very much capable of achieving anything they set their minds to and that they only need to stay committed and to never lose sight of the end goal.

A great business idea can be birthed at any time and any where, let all reading this post be able to listen to little voices in your head, telling you things because that might just be the key to all the financial doors you’ve ever wanted open.

So let us know, would you actually sell your phone to start a business or you’ll just wait till you have enough capital.

Tell us in the comments!

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