Robert Hornsby Urges African Diaspora Entrepreneurs to Take Informed Risks for Business Success

Robert Hornsby, CEO of Jobomax Homes, urged African entrepreneurs in the diaspora to start small and take informed, calculated risks when setting up businesses. He shared this insight during a panel discussion at the 2024 Sierra Leonean Diaspora Investment Conference (SLDIC). 

Hornsby noted that new entrepreneurs often make the mistake of thinking big without testing their ideas. He mentioned that this causes them to take unnecessary risks, which can hinder business growth.  

“Start small and test your ideas. When you’re small, you can manage your risks better, especially when you’re just beginning,” he said. 

Robert Hornsby’s Approach to Business 

Hornsby’s business approach centers on taking manageable, calculated risks as a foundation for success. He emphasized that starting small is the first step to success. 

While many diaspora-based entrepreneurs have ambitious goals, Hornsby advocates for a practical approach. He believes big dreams are valuable but advises against letting them overshadow the importance of small, strategic decisions that support steady growth. 

Hornsby emphasized the value of adapting as you gain knowledge and experience, noting that success is best achieved through incremental progress. He also shared that small ventures and carefully chosen investments offer flexibility and learning opportunities. 

Drawing from his real estate experience, Hornsby explained how he and his wife started with a single property. This allowed them to test their approach, gain property management skills, and eventually expand their business. 

“When you start small, you can adjust along the way,” Hornsby said. 

Wala Blegay (far left), Florence Freeman(L), Robert Hornsby (R) Keith Williams Jr (far right)

Insights from the panel at 2024 the Sierra Leone Diaspora Investment Conference 

Throughout the panel, other experts shared valuable perspectives, adding depth to the discussion on entrepreneurship. 

Jobomax Homes sponsored this panel, which focused on the theme, “Start Small, Grow Big: Essential Resources for African Entrepreneurs in the Diaspora.” 

Moderated by Hornsby, the panel included Florence Freeman, entrepreneur and Business coach for SCORE, Keith Williams Jr, CFO, Greenwich Hazelton Group, and Wala Blegay, Councilmember for  Prince George’s County, District 6. 

Freeman, an experienced entrepreneur and CEO of two real estate companies, highlighted the benefits of acquiring established businesses to jumpstart revenue. When starting her real estate venture, she and her husband opted to buy existing properties rather than start from scratch.

“If you’re looking to start a business, look for one that is being sold but is not in perfect shape. Buying a business that is in a ‘mediocre’ state offers room for improvement and growth,” she said. 

Commercial underwriter Williams, with 15 years in the field, offered insights for entrepreneurs seeking financing. He emphasized the untapped potential of Small Business Administration (SBA) programs for minorities, especially in the US. 

“Many people don’t take advantage of these programs. The SBA is supportive and offers lower equity requirements and more flexible criteria for loans,” he said.

Blegay stressed the need to shift from remittances to direct investments in Africa, urging diaspora members to move from financial aid to impactful investment. 

“We are turning to the point that that isn’t helping. We’ve been doing that for 10, 20, 30 years and we’re not seeing anything. So we’re changing our attitude, and our attitude should be about investment in Africa,” she said. 

Together, these insights painted a comprehensive picture of how diaspora entrepreneurs can access resources, support, and financing to establish successful ventures in Sierra Leone.  

Wala Blegay (far left), Florence Freeman(L), Robert Hornsby (R) Keith Williams Jr (far right)

What is the 2024 Sierra Leone Diaspora Investment Conference 

SLDIC 2024 marked the second of its kind. 

This one-day gathering attracted over 200 leaders from various sectors, including business, investment, finance, policy, and development, all focused on promoting economic growth in Sierra Leone. It was recognized as the largest assembly of Sierra Leonean-American entrepreneurs, investors, and change agents in North America. 

The lineup of speakers was remarkable, showcasing individuals with both international and local leadership experience, both domestically and abroad. Panelists from a range of industries provided valuable insights into policy, innovation, and entrepreneurship, aiming to foster meaningful discussions. 

The conference received sponsorship from Leonoil, DT Global, and VR&C Marketing. 

The event was dedicated to enhancing connections between Sierra Leone and its diaspora, encouraging collaboration and investment, and is expected to take place again next year.

Some guests at the SLDIC 2024