What does it take to become a successful business owner? How does an entrepreneur find their footing in a competitive business landscape? And what can we learn from those outstanding businesspeople who have already made an impact on the world at large?
These are just some of the questions we had in mind when going into our interview with Mr. Negusse Hailu, who is a successful entrepreneur. Hailu’s biggest claim to fame is his founding and development of the bottling share company EABSC, based in Africa.
Hailu expanded the scope of the company to such a degree that it attracted the attention of Coca-Cola, arguably the biggest beverage company in the world, and not long after, Coca-Cola went on to acquire EABSC as a subsidiary.
But this is just one small example of what Hailu has been able to achieve during his career thus far, and in our interview with Hailu, we asked him to reflect on some of the other major moments that have defined his efforts in multiple industries.
When you were growing up, were there any entrepreneurs or individuals you looked up to?
Hailu: Growing up, I looked up to my Italian godfather Antonio Varenna and my Uncle Abiselom. I grew up with them and their guardianship. Therefore, I look up to them, and they gave me the opportunity also to be with them and work with them. This is what I know.
What are some of the most important skills that all entrepreneurs should have?
Hailu: For me, the skill that an entrepreneur has to have is to be humble, keep his word, and never give up. Everything he does has to be righteous in the eyes of God. These are what I believe an entrepreneur should have.
Do you have a business philosophy that you’ve applied throughout your career?
Hailu: My philosophy is to do it in an innovative way, my own way, Negusse’s way always. Whatever I do, I do it with my personal touch, different from others. The way I restructure my company, the way I recruit my people – everything is out of the box. It is always out of the box.
Have you always been a skilled negotiator?
Hailu: I believe so. Even with family disputes, I can find a way for everyone to make peace with each other. Negotiation is within my skillset, as well as my gift of being able to speak different languages. It allows me to negotiate easier because when you speak someone else’s language, it makes them more open.
So, when I am in Italy, I speak Italian. When I am in France, I speak French. When I am with an Arab, I speak Arabic with everyone. I read a lot about other people’s cultures, and I always respect their cultures. I think, and I believe, that I am a skilled negotiator, but this question should be asked to someone who works with me or knows me, not myself.
What has been the most significant achievement of your career so far?
Hailu: My innovation is my most significant achievement, plus making EABSC one of the subsidiaries of Coca-Cola. I have also penetrated a new market for coffee from Ethiopia to other countries.
I’m happy with what I’ve achieved in the 34 years of my career, and I hope I will also make a difference here in America.
How do you stay driven to achieve even more than you already have?
Hailu: I believe that I will achieve more because of my age. Age gives you experience, and I have been working for 34 years. When a business starts, I’m on it until I know every little thing. In the end, achievement is about experience.
I have accumulated a lot of experience and have my own skills, and I believe that with age comes more wisdom, so I think I will continue to achieve more.
Do you have any advice for aspiring entrepreneurs?
Hailu: My advice to aspiring entrepreneurs is to work hard. Instead of just doing the business, study the business. Once you study the business, love the business, and lose your time and your energy in a business that you like, then you’ll be successful. Do not do any business because you think that someone did it or because you think it can make money or you can make money out of it.
You have to do business because you enjoy it, and to enjoy something, you have to know about it, and to know about it, you have to read about it, try it, and see it. It has to have originality. That way, your motivation will continue.