There’s no road map when it comes to entrepreneurship. Even the most successful business leaders didn’t have the answers when they started their businesses. They were forced to figure it out. But you can increase your chances of success by learning from those who’ve stumbled and fallen and picked themselves back up.
MD/CEO IBRA CONTRACTORS LIMITED (Tanzania), Maida Waziri: Be willing to take calculated risks.
One of the most important things in entrepreneurship is talking risks. The courage to such act is often accompanied by integrity especially when you want to move toward prosperity. Once you have decided to start pursuing your dreams the next step is to formulate strategies and implement those strategies without hesitation.
MD/CEO of Endeavor Nigeria, Tosin Faniro-Dada: Focus on long-term value creation.
My advice to aspiring or starting entrepreneurs is to focus on long-term value creation and never lose sight of the “why.” Entrepreneurship can be a long, lonely, and arduous journey, so make sure what you are working on will stand the test of time. Avoid jumping on trends just because they are popular and focus on ventures with tangible long-term benefits.
CEO Paystack, Shola Akinlade: Focus on solving one problem.
Businesses are bought, not sold. The most important thing is to choose a problem you are excited about solving and focus on that every day.
Founder and CEO of MFS Africa, Dare Okoudjou: There is no perfect time to start a business.
There is no perfect time to start a business. Whether a crisis is caused by tough economic times or caused by a pandemic, new needs arise that could be short-term or enduring. To be more precise, many of the same needs remain, but they need to be met differently. Ultimately, it depends on the business. The pandemic has had a significant impact on all aspects of life, but pandemics eventually go away. As long as you are creating products that address consumers’ immediate needs during that time, you can set up a successful business.
Founder of Sari for Change, Rayana Edwards: Stay authentic.
Trust your instincts, you will always have naysayers, but most times, they are your teachers. When your intention is clear on “why you are doing what you do”, your “how” will manifest. Ensure you are part of good networks and share your story and ideas all the time. Stay authentic, and if you can see your vision and you are consistent in action, something has to shift.