5 Highly Successful African Entrepreneurs Share Their Best Business Advice

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  • MD/CEO of Endeavor Nigeria, Tosin Faniro-Dada: Focus on creating long-term value.

My advice to budding entrepreneurs or first-timers is to focus on creating long-term value and never lose sight of the “why”. Entrepreneurship can be a long, lonely and arduous journey, so make sure what you’re working on will stand the test of time. Avoid jumping on trends just because they’re popular and focus on businesses that offer tangible long-term benefits.

  • Head of Growth, Rest of Africa at Flutterwave: Find people who believe in your vision.

Collaborations and partnerships are crucial. Get the right people on board, pool resources, align your visions, and be strategic with your methods to achieve your goals. Doing this will surely tip the scales in your favor.

  • Paystack CEO, Shola Akinlade: Focus on solving a problem.

Businesses are bought, not sold. The most important thing is to choose a problem that you are eager to solve and focus on it 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 difficult economic conditions or caused by a pandemic, new needs arise that may be short-term or long-lasting. To be more specific, many of the same needs remain, but they must be met differently. Ultimately, it depends on the company. The pandemic has had a significant impact on all aspects of life, but pandemics eventually die out. As long as you create products that meet the immediate needs of consumers during this time, you can build a successful business.

  • Founder of Sari for Change, Rayana Edwards: Stay authentic.

Trust your instincts, you will always have opponents, but most of the time they are your teachers. When your intention is clear on “why you are doing what you are doing,” your “how” will manifest. Make sure you are in good networks and share your story and ideas all the time. Stay authentic, and if you can see your vision and are consistent in action, something has got to change.

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