Passion and Commitment Key to Winning Investor Confidence — Michael Sagoe

Story by: Nii Trebi Hammond

Chief Financial Officer of Top Oil Ghana Limited, Michael Sagoe, has emphasized that while strong financials are crucial when pitching a business idea to investors, passion, commitment, and belief in the business are equally important in securing investment.

Speaking on Business Breakfast on ZED, Sagoe highlighted that investors are not solely influenced by numbers; they also look for entrepreneurs who demonstrate a genuine commitment and belief in their business ideas.

“The first thing we must understand is that before anybody decides to let go of their money, they are thinking about how they can grow that money and multiply their returns,” Sagoe noted. He explained that while presenting robust financial statements—highlighting revenue growth, profit margins, and return on investment—is essential, it is not enough to convince investors to part with their money.

According to Sagoe, investor confidence is built not just on figures but on the entrepreneur’s ability to showcase unwavering passion and dedication to their business vision. “Aside from being able to put together strong financial statements, you should be able to exude a lot of passion and commitment to whatever it is that you have decided to use the funds for,” he said.

He stressed that any discrepancy between what’s on paper and the entrepreneur’s level of enthusiasm could raise red flags for potential investors. “If you present to an investor and there’s a gap between your excitement and belief in achieving what you’ve outlined on paper, the investor will not let go of their money,” Sagoe warned.

In addition to passion and commitment, Sagoe pointed out that entrepreneurs must demonstrate a deep understanding of their business model, market, and growth potential. This level of insight, combined with solid financials, increases the likelihood of securing investment.

He concluded by advising entrepreneurs to approach investor pitches with a balance of credible financial projections and authentic passion, as this combination significantly boosts investor confidence. “At the end of the day, investors are not just investing in ideas—they are investing in people,” Sagoe remarked. His insights come at a time when access to funding remains a major challenge for many entrepreneurs in Ghana and beyond, reinforcing the importance of not just having a solid business plan but also the drive and conviction to bring it to life.