Avoid family and friends if you want your business to flourish – Tobinco

The Executive Chairman of Tobinco Group of Companies, Dr Samuel Amo Tobin has advised persons aspiring to be successful business persons to stay away from involving close relatives in their commerce.

The successful business executive who was speaking at the 2022 Power Wisdom Summit on Saturday also underscored the need for entrepreneurs to avoid employing their friends into their businesses.

Speaking on the theme “Wisdom in Wealth”, Dr Tobin indicated that people who were quick to employ close relatives other than their spouses or intelligent children risked running their firms aground.

“The best way to grow your business is to be very strict and be firm. If you understand this principle you will never involve your family members in your business,” he stated.

“Is not the best to involve your family in your business nor when is flourishing. Don’t give them sensitive roles like procurement, others, they will kill the company. The only people you can consider is your wife or biological child who’s reasonable,” Chairman Tobinco advised.

To him, non family members are easily punished when they flout the business policies but family members are difficult to manage when they embezzle funds.

In his advice to employees, Tobinco urged for workers to negotiate with their employees when they spend more on transportation to work.

“If your transportation is more than your salary you must tell your HR to talk to management to help. It’s a must to consult management else you will turn out to be a thief or a liar . Never be in a position whereby you spend more than you receive. If you receive tips from your bosses then obviously you can depend on those tips to cater for your transportation but, if your transportation is more than your salary then it’s either you ask for increment or resign,” he explained.

Wisdom Summit 2022 which was organised by XYZ Broadcasting to impart knowledge to patrons and audience of the media company was graced by speakers who took turns to share knowledge on various topics.

The stage was mounted by renowned marriage counsellor, Rev. Charlotte Oduro, Rev. D.Y Donkoh, Eugene Baah, an embryologist and Gospel Artiste Celestine Donkor.

On her part, Rev Charlotte Oduro advised the youth to be circumspect when entering into a relationship, stressing that knowing their partners’ weakness as well as their strengths.

Patrons had the opportunity to ask questions on various topics which the speakers answered extensively.



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