Securing funding is probably the most important step entrepreneurs take in their quest to build a successful and lasting organisation. However, most people don’t know how to create a funding strategy, and they don’t make an effort to learn how to.Read More
Africa, as a continent, offers great returns for investors as compared to most emergent economies. Many African countries supply raw minerals to developed nations, however, there are other untapped investment opportunities. For a start, the continent has a population of over a billion people.
There are numerous opportunities in various industries like retail, infrastructure, agriculture and manufacturing.Read More
South Africa’s small business failure rate of almost 80% within the first three years means the average entrepreneur’s chance of starting a business, growing it and creating much-needed jobs is painfully slim. The trend is similar across most of Southern Africa.
I have spent the last three years focusing on the question of why small businesses fail and why certain entrepreneurs are more successful than others. There seems to be little or no research in Africa dealing with the actual entrepreneur, and why some succeed and others fail. Most of the research deals with the environment and the actual business.
What should be done to strengthen MSMEs?
We should strengthen MSMEs by strengthening the core… the actual entrepreneur. Having spoken to dozens of entrepreneurs, I have discovered that those who become successful share similar personal characteristics. Thus, it seems likely that about 40% of the success of small scale businesses depends on the actual entrepreneur.
What can we learn from this?
We should initiate a new approach to entrepreneurship development which involves the personal development of the actual entrepreneur, with the objective of transferring the skills required to succeed in business. Cash flow training is important, but so is entrepreneurship focused personal development, personal initiative programmes, and other personal skills.
Please contact Agnes on firstname.lastname@example.org for more information of our Personal Development Programme for entrepreneurs.
A recent study by consulting firm PwC found that 53% of full-time employed adults in the US are stressed about their finances, far ahead of their jobs (17%), personal relationships (15%) and health (14%).Read More
You’ve heard the saying that money doesn’t grow on trees. But what if it did? What would you say if I told you that you could raise a tree that grew cash money instead of leaves? Of course I don’t mean this in the literal sense, but growing a tree is a lot like starting a successful Internet business that when done right can create a huge flow of cash. What do I mean?Read More
ADGE AFRICA’S BUSINESS TIPS
KEEP LEARNING, KEEP GROWING
The entrepreneurial journey is not easy, and the environment is constantly changing, how can entrepreneurs adapt?
“Learn faster than the world changes.
In a world that never stops changing,
You can never stop learning and growing.”
We live in an age of overwhelming information. The world is full of people supplying it and others who are seeking it. People everywhere are desperate for solutions and fresh insight. Those people who are able to provide them with the strongest, freshest, most relevant, and even most radical ideas, practically hold the keys to success. The individuals with this level of influence are the thought leaders.Read More
Measurements and score keeping is a universal language applied in a myriad of ways…
We keep score of sporting events as well as individual player statistics, credit scores,
grades in school, video games, IQ, cholesterol, blood pressure, weight, carbon footprint,
net worth, voting, conversion rate, customer retention, likes and tweets to name a few.
As consumers, we score the books we read, the websites we visit, the hotels we sleep
at, the restaurants where we dine to include service and food quality, the television,
movies and performances we watch as well as the music we listen to.
While the range and significance of every score and measurement is diverse, one
constant remains…everyone and everything is scored.
My concern has always been…are people measuring and scoring the right things?
Today is February 7th…the 37th day of the year.
What’s your score?
How would you measure your year to date performance?
Are you crushing it, or getting crushed?
These questions are important for one important reason…ONLY RESULTS MATTER!
When it comes to all of the measurements and scoring you are engaged in…none of it
matters if it does not inspire action which in turn drives results.
None of it matters if you haven’t reached your goals.
Measure your efforts as you drive towards your personal and business goals.
Our KBA Africa Entrepreneur for the month of June is Daryl Ndoro. Daryl Ndoro a serial entrepreneur with a vision and is not afraid to take chances toward the attainment of his goals. Daryl is an entrepreneur with a difference as he has a heart for society and endeavours to ensure that all his engagements have a way of improving society in the long run.Read More