The recipe of a successful start-up comprises more than just a dream, a service, or a product. While these ingredients are all equally (if not more) important, several small intricate details determine the ultimate success or failure of a start-up. These minute details which might seem unnecessary might decide whether a start-up will fall within the 70% bracket of businesses that fail before they can sustain themselves, or the 30% that reach self-sustainability.
While these statistics may sound discouraging, launching a successful start-up is certainly not impossible - just challenging. History has proven that successful start-ups require determination, resilience, and an unshakable drive. Learn and adapt from failure, don't allow it to decide the outcome.
Several individuals lean on examples of successful and independent entrepreneurs who started as amateurs to become experts. One of the most prominent examples of being a beginner to becoming a sought-after entrepreneur in the blockchain industry, is that of Mohammed Carrim Ganey.
The Story of a Blockchain Amateur Turned Successful Businessman
Mohammed Carrim Ganey's journey in the blockchain space began in 2015 when he was just 18. At that time, cryptocurrencies were a new concept, and most people were skeptical of the realm as a whole. However, Mohammed always had a curiosity about new trades; a curiosity which initially led him to experiment with Bitcoin.
His experimenting led to an almost obsessive interest in the crypto space, and Mohammed decided to start a new business centred around cryptocurrency mining. Later on, this expanded to mining 5 different and prominent cryptocurrencies including LTC, ETH, ETC and DASH. With some financial help from his parents, Mohammed purchased Antminer S7 and PSU to start mining. Since no one understood the concept of cryptocurrency mining back then, it was his determination and passion that made this venture a huge success. If your idea seems crazy, you're probably on the right track.
A few weeks later, the word had spread about Mohammed mining cryptocurrencies and fell upon the ears of Aslam Kalla, who became his angel investor and dear friend. Around this time, Mohammed heard about Canada's miner hosting service which provided cheap electricity. Aslam Kalla was intrigued by the idea, hence deciding to purchase ten more mining hardware and set up a farm. This goes to prove that a growing entrepreneur must never stop networking, as networking means success.
After that, with the aid of some smart decisions, such as choosing Kano as a mining platform, purchasing hundreds of Antminers S9 from a reseller and setting up a remote management system so he was able to manage his miners in Canada from his bedroom in South Africa, Mohammed morphed from a young boy into a successful and respected entrepreneur. Since then, investments began pouring in and, before long, Mohammed had grown his operation from around ten miners to over 1000. Mohammed has always believed in taking risks, despite the unknown situation, as not trying is worse than failing, which eventually paid off for him.
This journey may sound like an easy task on paper; however, it certainly was not. What helped Mohammed through the tough times and setbacks was that he embodied the idea of cryptocurrency mining and believed passionately in its potential.
"As each day went by, I was getting better and better. Soon this space became a part of me and it did not feel like a job but rather a part of who I am."
Mohammed's journey was far from over. In fact, he was only just getting started. Together with James Hakim, Mohammed Co-Founded Curate, which started off as a fashion discovery platform for men utilizing the blockchain. Mohammed put in the funds he earned from mining as an investment, but it was set to be a large-scale operation and required more private investors.
In 2020, while Mohammed and his partner were looking for investors, he stumbled upon decentralized exchanges (an exchange to trade cryptocurrencies) and NFT marketplaces. Mohammed's curiosity got the better of him again, and decided to transform Curate into a gasless NFT marketplace app in 2021. Like always, his instincts were right and the idea was an instant success.
Mohammed continues to climb to new heights and is experimenting with new concepts every day. Today, he is setting up a remote management system in South Africa. From securing a cheap source of electricity to going completely eco-friendly, Mohammed is making new strides. He created new job opportunities in a small deserted town in Canada called Labrador city, and helped with its economic growth. On top of that, he is providing guidance to the mining facilitie's tech team, shaping the minds of young cryptocurrency miners.
Mohammed also leads a masterclass in South Africa for Crypterns and runs a nonprofit that accepts cryptocurrency as a donation to help build wells, pumping clean water throughout Africa, called Water Relief. This inspiring story of a young boy turned into a successful businessman explains the do's and don'ts when building a start-up. Everything is possible with a little determination, and a lot of hard work. As they say, keep building on crazy ideas, the world needs more of them.