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Essential Ingredient for African Entrepreneurs

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Being a young entrepreneur is difficult, no matter where you are from. But in Africa, the challenges are often far more emphasised. Resources, financing, mentorship and supporting services are even scarcer. Yet despite this, the continent’s youth unemployment is higher than elsewhere, and for many young Africans, entrepreneurship is less of a choice, and more of a requisite for survival. Last year the Anzisha Prize, Africa’s premier award for entrepreneurs between the ages of 15-22, identified a handful of young entrepreneurs who are making it in Africa. Here are some of their tips for success.  1. The most important step is the first one Cameroonian Nteff Alain is the winner of the 2014 Anzisha Prize and is the entrepreneur behind GiftedMom, an e-content platform for pregnant women. He says having an idea is easy, but turning it into reality is a whole different story. The wall of challenges an entrepreneur faces can quickly de-motivate someone from following through on their vision. …

5 Amazing advice to help you in Business and in Life

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Over the years, I have heard people give amazing advice to upcoming and inspiring entrepreneurs to help them in their journey, among them are these 5 keys advice that i think will not just help people in business but also in the ordinary works of life. Below are 5 amazing advice am sure will help us all. if you enjoy this article after reading please ensure to share it with your loved ones. Thank you in advance. 1. Time is the most valuable thing you haveMy father, was my first and best mentor. He taught me to analyze my day on a dollar-a-minute basis. Every day, I examine the week ahead. I evaluate where to dedicate my time before moving things around. I ask, “How long will this take? What’s my upside? What’s the opportunity cost?” I turn down free equity in people’s businesses every day because they want too much of my time: a weekly one-hour call, a monthly face-to-face meeting, a quarterly retreat. But it’s a startup. If it makes $1 million in three years, I’ll get 5 percent, which…

Youth in Africa should turn to Entrepreneurship for Answers

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Considering the depressed state of the formal job market in Africa, it’s a good thing that more and more youth in Sub-Saharan Africa are looking to entrepreneurship to secure their future. Young people on the continent are more upbeat about their ability to become entrepreneurs than their peers in any other region, according to a recent global study. As many as 60% of 18 to 34-year-olds on the continent who took part in a joint study by the Global Entrepreneurship Monitor (GEM) and Youth Business International (YBI) were optimistic about the availability of good business opportunities, and believed they had the skills and knowledge to start a business. This compares to just over 17% of young people in the European Union, almost 17% in Asia Pacific and South Asia, and around 30% in North America. The only other region that came close to Sub-Saharan Africa’s optimism was Latin America and the Caribbean, where 40% of the youth believed they had the opportunities, skills and knowledge to st…

Vision, Strategy and Innovation. Key Ingredient to Entrepreneurship.

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During my first experience as an entrepreneur in Nigeria, we were part of a small company with only a few employees. One day, we were all overbooked with an important engagement. One of our major challenges was related to a very specific technical issue, and we couldn’t find someone to help us to fix it. Resources were scarce. Since we required the experts for only few days, even when we succeeded to find a resource, the expert wasn’t interested by such a small contract. Then, one weekend after, a friend of mine proposed to try a new place where you can have lunch, while sharing your table with strangers. At our table, some people were discussing a new innovative app that could help to better manage business cards. I was immediately attracted by their conversation and jumped on, and after some minutes, I found myself talking about my current issue with my engagement. Suddenly, the lady sitting on the other side of the table told me: “My cousin is in this area- I can ask him if he can h…

Entrepreneurship alone cant SKY Rocket you to Riches.

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You can't just be savvy about your business strategy. Keep these steps in mind to make your money work for you. Entrepreneurs become entrepreneurs for a number of reasons. Being your own boss ranks high on the list. The sense of accomplishment that comes with creating a company and making it a success is another motivation for some. The primary driver for many is the prospect of becoming extremely wealthy. While some entrepreneurs like the idea of being rich simply for the sake of being rich or for the hedonistic pleasures money makes possible, that’s not the case for most business owners. Generally, the desire to become really wealthy is accompanied by loftier goals, including taking care of loved ones and supporting non-profits. Many entrepreneurs are a personality type known as the family steward. They care deeply about the important people in their lives and want to be able to help them financially. And they also have a strong drive to give back by supporting charitable causes. Th…

Become a Guru in Entrepreneurship

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Becoming your own boss and socking it to the man (whoever the man is) can be life affirming. You are freeing yourself from the shackles of full time employment to go it alone and strive for financial freedom.
Sure, you’re saying goodbye to your steady wage, your office colleagues and your high flying career, but you’re saying hello to working from home, being your own boss, and taking more control over your work life balance. Every year, more people are choosing to turn their backs on being an employee in an effort to become self employed. Entrepreneurship is a tricky art to master. Just because you have a fantastic business idea, you have the funds to launch your startup, and you have a little black book of valuable contacts doesn’t mean that you will make a success of your money making venture. You will have to endure long hours initially, you will have to encounter the worry over where your next paycheck will come from, and you will no doubt have to say a fond farewell to your soci…