Fiifi Quaye is a 3rd Year Actuarial Science student of Kwame Nkrumah University of Science and Technology (KNUST). He had his Senior High School Education at Mfantsipim between the years of 2009 to 2013. As a young entrepreneur, Fiifi is passionate about setting standards and carving a good name for himself within the business world. From the sale of guitars to Chess boards, he has developed his potentials immensely. At age 20, he is the C.E.O of Q-Consolidated group, an investment firm. I caught up with Fiifi Quaye to give us an insight into his life and how he made it.
Fiifi, tell us a little about how life started for you.
Life started on smooth note. I wouldn’t say I was born into a rich family, but I had everything I needed. My life started with my parents being transferred from one station to another, because my dad is a pastor. This made me a bit diverse as I had the opportunity to learn different cultures.
How did you become an entrepreneur?
Entrepreneur, that’s what people think I am but I don’t really see it as such. I like building things and making them work. It all started back in Mfantsipim School when I was monitoring things from afar, what we call the status quo. As in Society tells you ‘Go to school, get good grades, get a good job etc.
I realized that I wouldn’t be happy with a life like that. So I declared for myself a 20-year life Plan; who I wanted to be in the next 20years. The plan was broken down into two or three years. It didn’t matter whether I was a student or not. I just did not want to follow the status quo and end in a queue looking for a job.
Most people look forward to being employed, but I wanted to be an employer.
What kind of Business did you start with?
I started with buying and selling guitars, chess boards etc. But eventually realized a different strategy that would reduce cost and maximize profit; from Mass imports and Supply to transport and others.
Acquisition Of Capital is a major problem facing entrepreneurs in Ghana. How did u overcome that?
The problem with most youths in business is that they don’t appreciate the concept of ‘ploughing back‘. You know as youths we don’t have several responsibilities concerning finances. Most of us depend on our parents for money, so they give it to us and we spend.
Many young people, especially the guys, have girlfriends that they ‘blow’ their pocket monies on. But then one thing I learnt was through the concept that any money I get from home, I’d multiply it first, adding value to that money.
Initially we started with 200 GHC only, but then in about two weeks we had multiplied the 200cedis to a thousand Ghana cedis. I also had the privilege of having my big brother coming down from the U.S, and so I forwarded to him some business plans and he entrusted me with some amount of cash.
Some close friends like Nathaniel Conduah, Isaac Turkson and Judy Agbenyegah also invested into the business. And they’re now partners in the business.
How do you see life from a general perspective?
I agree with Bill Gates on one quote he had about life that ‘If you’re born poor it is not your fault, but if you die poor it is your fault’ in the sense that life is full of opportunities; clear and concise opportunities. Now most people don’t see opportunities until they pass by and once they pass they tend to do the ‘had I known’ which is always at last.
Who is your Role Model ?
I don’t have one role model. I have role models in particular fields. My field is diversified because I don’t want to do only one thing.
In business, I would go for Bill Gates. In spite of the fact that he is the richest man in the world, most people don’t see him as ‘The Role Model’ they go for the Buffets and all. But Gates is ruthless in business. He is in to win. He is the kind of guy who would put products on the market and expect others to compete with him.
In faith, Chris Oyakhilome. Chris is a teacher of The Word. He is a complete man of God. In spite of the several controversies about him I still believe that he is a great man of God, because I’ve been following him for several years now and I’ve seen how consistent he is. It’s in line with the word of God.
What is the way forward for Fiifi Quaye?
The way forward for me is to build a lot of systems and money making machines, sit back, make sure they are effective and watch them work while I travel around the world influencing people. Next 5 years? Not a clear and concise path, but I want to be better than I am now especially in the field of faith and business.
Any advice for Our Readers?
To readers, I think you should choose a path you love and pursue it. In the sense that many people or many parents are advising us to follow the status quo, the same thing that made most of them not so financially independent. But then our generation is different. Our generation is in a computer age. You should re-assess your motives, you should redefine your aim. Above all, have faith in God.