Starting a business comes with never ending obstacles on the path.
For example, has this ever happened in your business: You are passionate, ethical and competent. You are working hard. Yet when you meet potential clients, they constantly, doubt you and the business. Despite your best efforts, the potential client carries a lingering doubt about whether you can deliver.
Another example, you engage a potential funder that wants to fund businesses in your industry, doing exactly what you are doing. Except you. The potential funder wants to come on board, but their doubt is stopping them. If only, they were not doubting whether your business could repay them.
The obstacle of doubt never goes away go. Even large, established business experience it. But we can learn a lesson from how they approach and overcome it.
Doubting MTN
The MTN Group is a listed JSE company, reputable and well established in more than a dozen countries.
In recent years, the MTN Group struggled in tough conditions and the market had growing doubts about them. There have been doubts about them in Nigeria, their future as a telecoms company and more.
Their share price dropped from R 255 per share in 2014 to R 65 per share in 2020. Yet, between August 2020 and August 2021, the MTN share price doubled, rising from around R 65 to R 130 per share.
According to MTN CE, Ralph Mupita, the favourable market response comes down to the following:
“We’re just focused on execution and trust that the market will see the value, which will in turn reflect in the share price. We still think there’s much more value to unlock in MTN and much more work to be done,” he tells Business Day here
His strategy is focused on reducing debt, accelerating growth and leveraging their infrastructure. More importantly, they are steadily doing, what they promise. While doubts are still lurking, the market believe in their execution, reflected in the rising share price to date.
In conclusion, doubt will always persist in the life of an entrepreneur and their business endeavours. Just focus on execution day after day, and the results will speak for themselves
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