Chude Jideonwo is Managing Partner of Red Media Africa, the media company to reach and inspire the largest number of Africans at any time. In 2014, he was named CNBC’s All Africa Young Business Leader of the Year. Follow him @Chude.
Who’s your hero? (In business, life, or both.)
Hillary Rodham Clinton.
What’s the single best piece of business advice that helped shape who you are as an entrepreneur today, and why?
“Bloom where you are planted.” We began our business with literally zero in capital: no investment, equity or loans. We only had an understanding of the market opportunities and our audience, and we made the best of what we had: people. You can make something out of absolutely nothing.
What’s the biggest mistake you ever made in your business, and what did you learn from it that others can learn from too?
Hiring fast, again and again. I learned the discipline of hiring right or not at all. One good head is better than 10 not-so-good ones.
What do you do during the first hour of your business day and why?
I respond to my emails. Because we are an omni-media company, someone is always interacting with one of our brands. It’s crucial to stay on top of each email and respond to trends and audiences promptly, especially in a relentless media environment.
What’s your best financial/cash-flow related tip for entrepreneurs just getting started?
Don’t borrow money if there is no way to pay it back. Don’t buy something if there is nothing to lose. Don’t spend if there is a need to save. Money has no loyalty.
Quick: What’s ONE thing you recommend ALL aspiring or current entrepreneurs do right now to take their biz to the next level?
Does your team come to work every morning with joy in their spirits? Joy leads to high performance, top notch customer relations and attention to detail. Focus on it.
What’s your definition of success? How will you know when you’ve finally “succeeded” in your business?
When we have the capacity to teach one billion Africans and when we have a company that makes each of its team members wealthy and joyful, I will feel successful.
