The Dean of the University of Ghana Business School, Professor Justice Bawole says entrepreneurs must enter the world of business with the right reason and mindset.

Speaking on Joy FM’s MasterClass, he stated that a lot of entrepreneurs have a purpose with which they start a business but one thing they lack is resilience.

“You may have a purpose and I see a lot of young people have purposes. They come to you they tell you the idea that they have. They want to be able to get into business and do something.

"They want to create something but if you check and not just student entrepreneurs, but if you check our business startup growth and failure rate, you’ll find that for most of the people, its lack of resilience that let people let off easily. So, there may be a purpose, even the environment may be conducive,” he said. 

Professor Bawole further urged graduate entrepreneurs to accompany the purpose of their business with resilience to ensure success.

“There may be a lot of things but if people do not have the resilience to overcome obstacles, and businesses are dealing with obstacles on a daily basis, they give up.

"Sometimes it’s the resilience to even tolerate diversity, the resilience to be able to go into a conversation with another person,” he said.

For this week’s edition, MasterClass was themed “Entrepreneurship: Role of the University” to address challenges of entrepreneurs mostly of tertiary institutions and provide possible solutions to making their businesses grow.