7 Lessons from Africa’s Successful Entrepreneurs?
7 Lessons from Africa’s Successful Entrepreneurs?
Building awareness about the entrepreneurs behind a few of Africa’s most thriving enterprises
Helping to illustrate why foreign firms should do more foreign direct investment in Africa
Attempting to showcase the diversity that exists in Africa’s business environment
One of the topics which we have not touched on yet, here, is what can a entrepreneur in Africa do to find success? Have you ever asked yourself that question or wondered if the entrepreneurs being discussed on these pages share anything in common? Well, if you did, then we are on the same page-because that’s what this post is all about. The reason that I have waited for so long in bringing it into the fold here is that it seems like such a complex question. After all, there are many different types of entrepreneurs in Africa. By this I mean that they come from different social and economic backgrounds, different ethnic and language groups, different countries and regions of Africa, some of them are exporting products, while others are serving local markets, and then there are the different educational backgrounds. Maybe, attempting to find such a commonality is like attempting to put a square peg into a triangle peg’s slot-but then again there’s only one way to find out.
Before we move deeper into this discussion, let me say this-I know that ten entrepreneurs in Africa (that’s the number that we have done mini-profiles on) is a small number. However, my rational for starting here, with these ten, was that my hope to be unbiased and also to see whether we could spot a trend or two. For instance, if you had someone who just arbitrarily said that they think that doing x, y, and z could make someone wealthy, what would you think about that person? Now, what if that same person was able to say, “after studying the 5 wealthiest people in the world, I have found they shared they all shared the following 3 habits in common, which have contributed to their wealth” would you listen, then? My point exactly! So, let’s see what these ten entrepreneurs share in common:
Each of them has made their business into a platform or a bigger cause, almost taking on the an evangelistic role for their particular industry or products.
These entrepreneurs have shown a degree of perseverance in the face of heavy obstacles.
They have made building strong relationships a big part of building their businesses.
Adapting thinking, processes, products, and/or services to their local environments.
The willingness and ability to gain a very keen understanding of the overall social, economic, or political climate of the region in which they do business.
Most of them built their businesses around their own personal experiences and as a result ended up creating niche-targeted businesses.
Whether it was in obtaining start-up funds, seeking advice, or in finding others to help run the business these entrepreneurs were not afraid to seek help.
Now, those were the similarities found amongst the entrepreneurs who’ve been profiled here. However, this is probably no where near being exhaustive. Thus, if you an entrepreneur doing business in Africa and you’d like to add to this list or comment on it- we’d really like to know.
7 Lessons from Africas Successful Entrepreneurs - To learn more about this author, visit Benin Mwangi's Website.
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So far The Benin Epilogue has attempted to tackle several different issues. Key among them have been:
Building awareness about the entrepreneurs behind a few of Africa’s most thriving enterprises
Helping to illustrate why foreign firms should do more foreign direct investment in Africa
Attempting to showcase the diversity that exists in Africa’s business environment
One of the topics which we have not touched on yet, here, is what can a entrepreneur in Africa do to find success? Have you ever asked yourself that question or wondered if the entrepreneurs being discussed on these pages share anything in common? Well, if you did, then we are on the same page-because that’s what this post is all about. The reason that I have waited for so long in bringing it into the fold here is that it seems like such a complex question. After all, there are many different types of entrepreneurs in Africa. By this I mean that they come from different social and economic backgrounds, different ethnic and language groups, different countries and regions of Africa, some of them are exporting products, while others are serving local markets, and then there are the different educational backgrounds. Maybe, attempting to find such a commonality is like attempting to put a square peg into a triangle peg’s slot-but then again there’s only one way to find out.
Before we move deeper into this discussion, let me say this-I know that ten entrepreneurs in Africa (that’s the number that we have done mini-profiles on) is a small number. However, my rational for starting here, with these ten, was that my hope to be unbiased and also to see whether we could spot a trend or two. For instance, if you had someone who just arbitrarily said that they think that doing x, y, and z could make someone wealthy, what would you think about that person? Now, what if that same person was able to say, “after studying the 5 wealthiest people in the world, I have found they shared they all shared the following 3 habits in common, which have contributed to their wealth” would you listen, then? My point exactly! So, let’s see what these ten entrepreneurs share in common:
Each of them has made their business into a platform or a bigger cause, almost taking on the an evangelistic role for their particular industry or products.
These entrepreneurs have shown a degree of perseverance in the face of heavy obstacles.
They have made building strong relationships a big part of building their businesses.
Adapting thinking, processes, products, and/or services to their local environments.
The willingness and ability to gain a very keen understanding of the overall social, economic, or political climate of the region in which they do business.
Most of them built their businesses around their own personal experiences and as a result ended up creating niche-targeted businesses.
Whether it was in obtaining start-up funds, seeking advice, or in finding others to help run the business these entrepreneurs were not afraid to seek help.
Now, those were the similarities found amongst the entrepreneurs who’ve been profiled here. However, this is probably no where near being exhaustive. Thus, if you an entrepreneur doing business in Africa and you’d like to add to this list or comment on it- we’d really like to know.
7 Lessons from Africas Successful Entrepreneurs - To learn more about this author, visit Benin Mwangi's Website.
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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