source
[onepage]
[gallerypage]
Aliko Dangote, the richest man in Africa, and the man that all African entrepreneurs should emulate, once shared his wisdom. He said: “I built a conglomerate and emerged the richest black man in the world in 2008 but it didn’t happen overnight. It took me thirty years to get to where I am today. Youths of today aspire to be like me but they want to achieve it overnight, it’s not going to work.” As you can see, starting a business is not easy. It requires a lot of hard work and determination. These tips might not apply to all of you, but they will definitely help you overcome at least one of the innumerable challenges you will face as an entrepreneur.
[/gallerypage]
[gallerypage]
1. Don’t be afraid to take the first step
Brainstorming for ideas is very easy, but turning an idea into a sensible business concept is another story. As an entrepreneur, you will be challenged before even launching your business. You need to have a vision, stick to it and not be afraid to take risks.
[/gallerypage]
[gallerypage]
2. Start small but think big
You need to start small, manage lean operations, and keep in mind that there are plenty of reasons why the future will be bright for you. According to the Bain & Company consulting firm, by 2020 17% of the world population will be in Africa. If you are in Africa right now, you are in the right place at the right time.
[/gallerypage]
[gallerypage]
3. Dress to impress
The old cliché “the clothes make the man” unfortunately holds in many African cultures. You never know who you can run into, so always dress sharp. Looking dapper never hurts.
[/gallerypage]
[gallerypage]
4. Plan for power outages
Access to energy is a key obstacle to doing business in Africa. Power outages will sometimes occur, and they can be frustrating. All you can do is organize your activities around them, for instance by using solar energy, or by purchasing a generator if necessary.
[/gallerypage]
[gallerypage]
5. Be patient
To succeed in entrepreneurship, you need to have nerves of steel.
[/gallerypage]
[gallerypage]
6. Know your market and be local
You need to understand your customers and use all the resources around you to cater to them. It implies doing a good market research and innovating locally. Africa is very diverse, you have many different cultures, political and regulatory systems. In addition, you also have to keep in mind that Western models do not all apply to African audiences and consumers.
[/gallerypage]
[gallerypage]
7. Optimize your finances
Being in debt can cause serious problems to running a business. Aspiring entrepreneurs can easily get caught up in a debt trap, in other words, the cycle of borrowing and repaying. Avoid borrowing if you don’t need to.
[/gallerypage]
[gallerypage]
8. Stay positive
There will be ups and downs, and you need to cultivate a certain resilience to stay positive when times are rough.
[/gallerypage]
[gallerypage]
9. Be connected
Technology is your friend. There are a lot of free tools out there that will help you stay in touch with people, be productive and build your brand.
[/gallerypage]
[gallerypage]
10. Know what’s out there
Sometimes, a lot of what you need as an entrepreneur building a business in Africa is not out of reach. In fact, the best resources could be those that present themselves to you without any effort on your part.
[/gallerypage]
[gallerypage]
11. Never give up
There will be ups and down, trials and tribulations, but you have to be patient and keep your eyes on the prize. Aliko Dangote said: “Endeavor to work as hard as possible to attain a new aim with each day that comes by. Don’t go to bed until you have achieved something productive.”
[/gallerypage]
[gallerypage]
12. Build a great team
No one succeeds alone. Build your team and look for complementarity, high energy, integrity and, of course, a sense of humor.
[/gallerypage]
[gallerypage]
13. Work hard
Remember that success is never overnight. It comes with blood, sweat and tears.
[/gallerypage]
[gallerypage]
14. Network
You have to network, network and network. Reach out to your family, friends, neighbors, everyone. They are all potential customers or partners.
SEE ALSO: Akon Plans to Bring Electricity to 600 Million People in Africa.
[/gallerypage]
[/onepage]
