Emigoh CEO shares secrets to scaling up success

By: Ernest Afram

Stephen Eku, CEO of Emigoh Ghana Ltd., producers of Yomi Yoghurt, has urged entrepreneurs to treat profit as a seed for reinvestment rather than a reward for spending.

Speaking on the Zed FM Business Breakfast show, he outlined key strategies for sustainable growth, emphasizing investment in people, strategy, and operations.

“After you survive the startup stage and begin to grow, profit is the seed. And the way to multiply this seed is through investment,” he said.

According to Mr. Eku, achieving sustainable growth requires businesses to move beyond the excitement of early financial success and adopt a forward-thinking mindset that is intentional about reinvesting profit for long-term gains.

He noted that, many entrepreneurs fall into the trap of consuming profits too early instead of channeling them into productive avenues that could elevate their companies into industry leaders or even international brands.

“The very seed we got as profit, we don’t multiply it and that is what I think a lot of people make a mistake in,” he cautioned.

Mr. Eku explained that the gap between the business objectives one sets and the results one achieves is bridged by execution, and that no matter how sophisticated ideas become, especially in the AI era—execution remains a human activity.

“AI can give you all the ideas left, right, and center, but it cannot execute for you,” Mr. Eku stressed.

To execute successfully, he advised that growing businesses focus their investments in three core areas: people, strategy, and operations, beginning with the most important—people.

“As a pharmacist who ventured into business, I had to invest in myself by studying business. I’ve now become more of a business person than a pharmacist,” he said, emphasizing that building capacity both as a leader and within the workforce is non-negotiable.

He argued that people are the most critical resource in any enterprise as they oversee physical, intellectual, and financial assets.

To this end, he shared that at Emigoh Ghana Ltd., monthly management training programs are organized to ensure that team members continuously improve their capabilities.

“If the human is not properly educated or invested in, he will mess up all the financials and assets you’ve acquired,” Mr. Eku warned.

Strategy, the second pillar, he indicated “is a matter of choice.” In his view, strategy is about knowing what to change, what to change to, and how to change. Each of these stages involves decisions that can shape the future of the business.

“If someone gives both of us one million cedis, how we choose to spend it will determine the results we get. That’s strategy,” he explained.

The Emigoh Ghana CEO encouraged business leaders to constantly review their processes and make bold yet calculated decisions.

“You have to look at your business and ask, how do I change when it comes to people, strategy, and operations?,” he noted.

Mr. Eku also addressed the practical risks associated with investing in people. He acknowledged that employees may leave or be poached after receiving significant training and development. However, he argued that this is not a reason to avoid investing in them. Instead, businesses must put in place systems to retain key staff and create a culture that values growth and loyalty.

The third investment pillar, operations, ties the first two together and focuses on execution. This includes the practical tools, systems, and infrastructure that support business processes. Without efficient operations, strategic thinking and skilled people may not yield the desired outcomes.

He indicated: “If you don’t have the growth mindset of becoming an international company or a world-class enterprise, you will squander the very seed that is supposed to multiply your returns,” he said.

Mr. Eku concluded by urging business owners to resist the temptation of complacency in the face of early profits. Instead, he encouraged them to adopt a growth-oriented mindset that places reinvestment at the heart of business success.

He also emphasized the importance of building strong teams, refining strategy, and strengthening operational efficiency.

“Don’t eat your seed, multiply it through smart, strategic investments that will secure long-term impact and position your business for global relevance,” Mr. Eku added.