We got a chance to interview Patrick Mensah, the Chairman and CEO of WallStreet Investment. Talking with us helped us get insightful knowledge about being a leader and what helps with managing the business properly. Patrick is an international business magnate, motivational speaker, investor, extraordinaire, philanthropist and author.
He is a multi-talented entrepreneur with an impressive consulting background and experience in banking, operations, strategy and management leadership. WallStreet Investment is a multi-service company specializing in top-tier business setup, investment, consulting and tax advisory services based in Dubai, UAE. Learn more about WallStreet Investment and Patrick Mensah through our interview below.
How did you start your entrepreneurship journey? Do you have some advice for beginners?
When I was a teenager, I grew up in a small fishing community in Ghana. I was fortunate enough to land a car wash job for some of the elders in the community very quickly. I began to understand the value of money by waking up early every morning to wash cars before school and later after school. With the money I earned as a young man, I was supporting the gentleman who looked after me and others in my family. I learnt the discipline from a young age to stay consistent by watching the wealthier elders around me. Furthermore, I was able to observe how they dressed, which later taught me the importance of presentation in my own style and fashion for beginners.
I would advise beginners to stay eager to learn, ask questions, and observe. Never be afraid of making mistakes because learning never stops; therefore, the questions will always continue, and that’s how you learn and thrive throughout your career and business. Take action. Most times, you learn less when you’re standing still.
What do you believe is the most crucial part of continuing business seamlessly?
For a seamless business, you have to stay consistent or allow your clients and customers to trust you. Even when times are challenging, they’ll know they are able to rely on you to deliver the service or product. Having systems in place will also allow you to scale and grow as your business progresses with the right team members to take on extra demand as you expand.
We saw that you are active as a leader in multiple companies. What are your goals for your companies, and how do you plan to help individuals with them?
I have big dreams, big goals and a huge vision. Maybe even too big and detailed to get into here. In fact, some of these I cherish personally, but in many areas of my business, I am still able to support my family and people in the community around me. I have a diverse portfolio from Gold import and export to perfumes and fragrances and even company formation in the UAE. As the different businesses and companies grow, I train others within the teams to grow with the vision, and I will continue to do that by building a legacy that will far outlive myself.
Describe yourself in one word.
Visionary.
Does employees’ energy and enthusiasm have a hand in business success? How do you plan to motivate your team to go the extra mile?
Yes, team spirit has everything to do with the success of your business. If your team is motivated, empowered and enjoys work-life balance, they’ll be able to offer ideas, think freely, and complete tasks when delegated. If the team doesn’t feel valued, appreciated or trusted, they’ll hold back on ideas and productivity, which will stunt your business’ growth. I always ask for ideas from the team and have weekly reviews to see how the business is doing on an ongoing basis.
I have an open-door policy where staff are able to walk into my office and share ideas or pick my brain about something they may be stuck with. We all have a role to play in the success of the business. The better the company does, the better we all do with bonuses. It has become a proud place to be part of.
They feel great because they know they are valued and treated on special occasions, and they can always come and ask me for support. I am just a phone call away, even if I’m not in the office.
How do you describe your leadership style?
I would say my style is similar to that of a lion, a leader who can take pride in walking amongst all the different personalities in the kingdom. At other times, I can describe myself as an eagle who can fly solo and watch from above to see how the team needs my support whilst seeing the opportunities in the market and protecting my team and company from a bird’s eye view.
Did you face any challenges during your career span? If so, where are you able to overcome them?
Yes, there are always challenges, and they never stop. WallStreet Investments is my 14th company. Before this, I had been part of many partnerships, and they gave me great experience in my home country of Ghana, my current residence in Dubai, and internationally.
I am grateful for the lessons learnt along those challenges and the people I was able to work with because it now means I’m able to go a lot faster in my current business, and I know that things and markets will always evolve. You overcome them by being persistent, consistent and knowing when it’s time to take things to the next level.
The challenges will never stop, so you have to learn how to deal with them, ride the waves and adapt or grow despite them.
Are you adapting to digital transformation? How is it helping your business?
Yes, the digital transformation is here to stay, and the changes we are seeing will only get faster as time moves in the internet era, where we are now taking over 30 years to get here. However, as things get faster and more complex, it means we will have to be smarter as artificial intelligence and the Metaverse are already large parts of different markets and societies. I’m fortunate to be involved with Cryptocurrency, and I’m a strong believer in where this industry is heading, and it’s helping my businesses by being able to move funds from country to country when required in different currencies.
Do you use innovative ideas to be unique?
I believe innovation should be part of every business’s social media. All forms of marketing are constantly required to keep current customers interested and attract new customers daily. So innovation is a huge part of having different ways to keep your end customers flowing in.
Where is your leadership going? What benefits do your clients get from your company in this competitive world?
My leadership is always about growth. I’m often encouraging my staff to have goals within the company and outside of the company so that they know that within 2 to 3 years of working with me, they should be far beyond their current position.
Though I would love to keep some of the staff, I know that as they grow, they will outgrow their roles and so must move onto bigger positions that may exceed the level within the company. Whilst they are in my company, I encourage them to learn, train and seek out all the opportunities in the market. I’m not afraid of them learning and leaving. I’m afraid of them standing still in life and in my business.
If my team is always evolving, it means they have a natural hunger to keep them interested and, in turn, my clients and customers to get the best fresh new information from a happy and eager team to evolve. They don’t have to shrink themselves to fit it. I want them to stand out. That was, we all won.
Connect with Patrick Mensah on LinkedIn.
Find WallStreet Investment on LinkedIn.