Even though you may learn every important detail of launching and operating a firm in business school, no one can adequately prepare you for the disappointment that lies ahead. More is needed to become a successful business entrepreneur than just academic understanding from books. You’ll need to demonstrate a great deal of tolerance, risk-taking prowess, and an unwavering willingness to take big chances.
Despite all the obstacles young people encounter, many of them still succeed. This article highlights the advice offered by prosperous African entrepreneurs.
- The first step is crucial.
Alain Nteff of Cameroon claims that developing a business strategy is easy. The hard work lies in the implementation. Nteff concurs that these obstacles have the potential to quickly sap a young entrepreneur’s motivation, but he counsels them to keep their eyes on the goal. In addition, he stresses the value of perseverance in the face of failure.
- Develop your entrepreneurial brand.
At the early age of 19, Kenyan businessman Tom Osborn was recognized on Forbes’ 30 Under 30 as a result of his perseverance and hard work. Young entrepreneurs are forcefully advised by him not to position their brands poorly. According to him, investing heavily in marketing and spending adequate time perfecting their products, might help African entrepreneurs sell their products to the global market.
- Keep business and pleasure separate.
You may have heard this advice before: keep work and play separate at all times. Thato Kgatlhanye, a South African entrepreneur and recipient of the ELLE International Impact Award, believes that working with friends should never cross boundaries. When starting a collaboration with friends, she counsels young African entrepreneurs to constantly act as though they are just getting to know each other. And never forget that you won’t necessarily thrive in business with a friend you’ve known for years.
- Teamwork takes the day.
Great teams are essential in business, as noted by Togolese robotics expert, Sam Kodo, who created his first robot at the age of seven. Sam is the creator of the company Infinite Loop, which makes affordable desktop PCs for students. He is aware that having computer skills is not the only requirement for managing a profitable company, though.
Kodo thinks that managing a successful company requires having top-notch staff. Sam mentioned Bill Gates and Mark Zuckerberg, pointing out that while they were excellent administrators, they were not effective. Their successful firm was a result of their ability to surround themselves with individuals who possessed a variety of skills and competencies, as well as their computer skills and innovations.
Sam counsels African entrepreneurs to pick competence when choosing a team or business partner to manage the organization.
- Your motivation must come from within
Winifred Selby, a Ghanaian who was the recipient of the 2016 New African Woman in Science, Technology, and Innovation Award, claims to be highly motivated internally. Winifred Selby is a Kumasi-based president of the EPF Educational Empowerment Initiative and a co-founder of the Ghana Bamboo Bikes Initiative.
Winifred believes that being a successful entrepreneur is not a simple task, particularly when many young people are discouraged from pursuing their dreams by friends and family. Entrepreneurs need to be bold but practical when it comes to business risks.
Shelby counsels African entrepreneurs to stop looking to other people for approval and instead discover inspiration within. Selby desires business owners to draw courage and inspiration from their passions and dreams without relying on the support of others. Remember that people do not understand your journey because it is not theirs to understand.
