From HowWeMadeItInAfrica. Story by Dinfin Mulupi.

Ross Baird has been working with entrepreneurs across the globe over the last five years.

He’s executive director of U.S.-based investment firm Village Capital, which invests in social enterprises solving global problems. The company runs business development programs for early-stage entrepreneurs in agriculture, education, energy, financial inclusion, and healthcare. In Africa, Village Capital has trained 75 entrepreneurs and invested $500,000 in 11 companies.

From his interactions with entrepreneurs on the continent, Baird has identified features specific to African entrepreneurship.

One is the ability to see opportunities where others normally wouldn’t. He has also learned that because of the “incredible” challenges and limited support they face, Africa’s entrepreneurs are quick to change their business model and adapt to their environment.

“A lot of entrepreneurs are really stubborn to change their original idea, but African entrepreneurs just go where the opportunity is because they have no other choice,” Baird said. “So I have learned more about how to think quickly, and make quick decisions, and change your business model quickly from African entrepreneurs than from any other ones.

“I have seen entrepreneurs go (with) one business model that wasn’t working and because they didn’t have any money, they had to change the next day.

“One week later it is a completely different business and it is amazing. I ask, ‘How did you do that?” And they say, ‘We have no choice, we have to do it, we have to keep surviving’. They are more positive, (yet they) have a harder path to success than (entrepreneurs in) any other region.”

Read more at HowWeMadeItInAfrica.