Freddie Achom: Leading Blockchain Enthusiast
Imagine that one day somebody intervenes into your daily working routine and announces that he can make your company more profitable and get much more out of it than you do. Freaky, isn’t it? However, this is how modern business works. Small firms and startups can become successful only after a good “investment kick” from leading sponsoring companies or specialised investment groups. This brand-new industry encouraged many people to found their own venture capital investment companies. One of the most renowned investors and a passionate entrepreneur is Freddie Achom.
Being an adroit and resourceful youngster, Freddie went through numerous stages before getting to the top of his current career ladder. Starting as an employee of a stationery company, his great talent and entrepreneurial brain were revealed by his boss, who taught him to always set targets and strive to achieve them. The success was treading on the Freddie’s heels, and one day his hard labour and determination flourished into the foundation of Rosemont Group Capital Partners.
Having your ultimate goal is a core principle of a successful business, - was the driving motto of Freddie Achom. And he himself, having gone through the rough process of establishing his own business, is eager to help young companies and startups to find their place in the environment and achieve their targets. Be it leisure, fashion, wine brokerage, restaurant or nightclub industry - Freddie has it all covered. With his faithful entrepreneurial intuition and vast experience, he can foresee which businesses will be successful and thus worth investing in.
His latest focus has been on the technology industry which is a quite fragile market with a lot of space to grow. Freddie believes that it has much potential, and one needs an appropriate and efficient kind of mechanisms combined with entrepreneurial flair to get on top in the industry. In one of his interviews with Forbes Africa, the world-renowned investor made a curious comparison that reveals the core of the market:
“The technology space is almost like back in the Wild West where everyone has got their tools out searching for gold.”
(Forbes Africa, 2015)
The same in technological environment, still not explored and full of exciting new discoveries, where companies are obliged to find necessary “utensils” by themselves and implement them in their business strategy.
What else should the technology space startups do so as to achieve high results and make their profits skyrocket? Freddie suggests a simple formula: following your corporate philosophy in pursuing your aims. And note, this is not another standard buzzword phrase carrying no practical sense. The entrepreneur is open to share his vast experience in the field of starting your business and finding a right strategic path for it.
The latest trend in technology industry, the so-called “Fintech”, was highly supported by Freddie Achom. According to the investor, this market rocketed because of the rise of cryptocurrency that is used by numerous startups to process payments. In his blog, he assumes that 21% of companies are already launching crypto in their payment systems and are focused on implementing it in the next year.
“There’s no doubt that the future is Fintech and with so many products and services springing up to make transactions simpler, it’s a perfect partner for any start-up or entrepreneur.”- writes Freddie in one of his posts (frederickachomnews.com, December 6, 2017).
Cryptos are based on the system called blockchain. You may have already heard this word in the articles concerned with such popular crypto currency as Bitcoin, which is also constructed on blockchain. In brief, blockchain is a virtual ledger that records all transactions of every user. Before a transaction can be done, it has to be verified by every computer involved in the chain. It turns out that the system is based on decentralisation and consensus of the users that enables them to operate without a middleman
The benefits, - says Freddie, - are limitless. The most vital advantage that attracts so many young companies to join the “crypto community” is the ability to get rid of a middleman requiring extra unpleasant expenses. Moreover, as the investment specialist claims, using the world-famous cutting-edge blockchain technology therefore allows full and direct control over the firm’s finances.
Another perk of using blockchain in your company, in Freddie’s opinion, is to simply save time and money - the basic aim that many businesses pursue. By easing the payment process and fully digitalising it, you can make transactions in a much simpler way. Stress-reduced, quick and intuitively accessible payment is a key factor of increasing your revenues and attracting customers, isn’t it?
Finally, Fintech and blockchain markets are a great space for creativity. No jokes - modern technology enables companies to be as ingenious as possible. You are a player of a fair yet competitive game, and if you become a leader - you set the rules. The journey through technology industry will get your company to develop a set of revolutionary tools that may advance you to the leading positions. The main principle is to set the goals and do your best in achieving them.
Overall, “the #blockchain is tool for maintaining a transparent and incorruptible distributed #digitalledger of #economic#transactions that can verify not just financial transactions but anything of value, with minimal third party involvement”, - posted Freddie Achom on his Twitter (@iamfreddieachom, 28 January 2018). Thus, blockchain technology may be a real booster of a company’s revenue. It is a real revolution of business, and Freddie is on the forefront.
Achom’s devotion to Fintech industry in general and blockchain in particular encouraged him to get the mechanisms going and support small businesses dealing with this brand-new crypto technology. In 2017, the businessman invested in more than 20 startups that operate in the this field. By supporting new companies and inventions, Freddie promotes the use and development of blockchain as an efficient and effective business tool.
Freddie Achom, Chairman and CEO of a flourishing investment group and Non-Executive officer in various other companies, is an exemplary model for thousands of aspiring entrepreneurs. His passion for the latest technologies, such as blockchain, and other potentially promising industries, make the industry of small Fintech businesses develop at a fast pace. Therefore, his actions inspire the establishment of numerous startups of urban entrepreneurs every year - because young businessmen can see that the solutions are scalable and their success is realistically achievable.
Know your field, foresee possible changes and play your game - these are the tips from the investor giant of the 21st century. Believing in yourself, however clichéd it sounds, should be also a key value of your early stage company. “If you don’t have any faith in yourself you will remain looking for external help, when actually you can help yourself”. And this is especially true for the startups working in blockchain industry, so promising yet challenging.
Freddie’s personal blog, freddieachom.com