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8 Pieces Of Business Advice From African Entrepreneurs

8 Pieces Of Business Advice From African Entrepreneurs

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Entrepreneurship is an important part of African economies, as an increasing number of individuals become business owners in an effort to provide for their families and create jobs for others. But starting and sustaining a business is not an easy task, and those African entrepreneurs who make it work build up knowledge and experience that can help others to tread the same path successfully.

We gathered 8 pieces of valuable advice from African entrepreneurs throughout the continent.

Sources: MoneywebHowWeMadeItForbesMoneyWebInvestor, AfricanBusiness Magazine,

entrepreneurship

David Osei – Co-Founder and CEO, Dropifi | Ghana

“It is okay to fail, but it is not okay to not know when you are failing. You need to know when something is going wrong and what is causing that very thing to go wrong.”

Source: HowWeMadeIt

Thinkstock
Thinkstock

Chris Kirubi – Director, Centum Investment Company Limited | Kenya

“Visualize your past victories while visualizing and anticipating future victories. Planting the seeds of positive expectancy in your mind is the best way to reap.”

Source: Forbes

Thinkstock
It’s all about clarity – Thinkstock

Sbu Shabalala – CEO, Adapt IT | South Africa

“Our people (staff) must be able to grow. They have clear career paths, clear KPIs, clear incentives. We set stretch targets but share all information necessary for them to achieve these targets.”

Source: MoneyWebInvestor

Tony Elumelu. Photo: businesswire.ng
Tony Elumelu. Photo: businesswire.ng

Tony Elumelu – Chairman, Heirs Holdings | Nigeria

“Discipline, hard work, sacrifice. Success does not come on a platter. You have to work hard to be successful. You have to be disciplined and you have to make sacrifices. In addition to being creative, these are things you must have.”

Source: AfricanBusiness Magazine

Thinkstock
Thinkstock

Fred Robertson – Executive Chairman, Brimstone Investment Corporation | South Africa

“As an entrepreneur you have to be a dreamer. You got to have vision, you got to have passion and belief in yourself that you can do it.”

Source: HowWeMadeIt

broadband africa shutterstock_128237849 East Africa's broadband boom | BiztechAfrica Mobile,Technology ... www.biztechafrica.com
It is important to ask questions as an entrepreneur

Allon Raiz – CEO, Business Incubator Raizcorp | South Africa

“You have to ask ‘what if I try this, and what if I try that and how would the business operate if I changed that?’ All those are the types of questions you have to keep asking yourself as an entrepreneur.”

Source: MoneyWeb

wealthyson.biz
The power of networking should not be underestimated – wealthyson.biz

Mutoba Ngoma – CEO, Tapera Industries | Zambia

“For me the biggest business lesson I have learnt so far is the strength of networking and collaboration. Without working with other people in the industry, things would have taken much longer to get off the ground.”

Source: HowWeMadeIt

Thinkstock
Thinkstock

David Sanni – Business Development Director, Damars Group | South Africa

“You’ll find that many business have acquired funding in order to access these markets but that cost (of corruption) was not factored in. So they refuse to engage in corruption, and this often delays the process by a much longer time, and in some cases it has led to businesses failing. However, if companies can stick it through and find a way to make it work, the rewards of being in those markets can be very big.”

Source: Moneyweb