Africa: Your Business Should be Profitable in 45 days or Die

africa-rising“In Africa if your business is not profitable during the first 45 days, you’re doing something wrong!”

These are the words a friend used to describe how dynamic and fast growing the continent became. Obviously, he was talking about small businesses, but I’ve heard similar stories from other sources regarding some quite important deals.

In 2012  Africa became the fastest growing continent in the world with the highest number of new millionaires. There are now more than 100,000 millionaires in Africa and about 20.000 new millionaires will be added every 3 years. Waouh!

There are lot of opportunities. I’ve  have started few months ago a series of posts on ideas to start profitable business in Africa:

100 ideas to Start a Profitable Business in Africa

10 Ideas for Profitable Business Empowering African Governments with Technology

49 Ideas For Mobile Business in Africa

10 Ideas for Profitable Business in Data and Networks Security in Africa

There are thousands of other business opportunities that I will continue featuring here.

The continent still is a risky place to do business, but the rewards of success are instant and a lot. Here are the top 7 tips for success I’ve garnered through my latest conversations:

1. “It’s almost virgin here. There are lot of opportunities, but you have to fight!”

2. “Target the vanity class with vanity products. The “new rich” have lot of money. They are though on everything except their big ego and social reputation”

3. “Target the lazy executives and middle managers. Do the job they are paid for as a consultant. Be good, and politically savvy, and the money is yours”

4. “You’ll make more money in selling food or opening a restaurant than working for the Bank”

5. “You can’t avoid politics, but learn to think like the people your are talking with. Always finish your sentence with something like “the most important is the country’s development, not power. We all have to work in that direction”

6. “It’s about hard work and passion, but you should first forget about managing time like in Europe.

Take time to visit people, go to the vanity parties, have the patience to let stupid people finish their long empty sentences, and make the politicians understand that your project could make them win elections and strengthen their positions”

7. “Speed is everything. Think fast, Act fast, Be everywhere through friends, family and informants”

 

All these  look very machiavellian to me, but who said business was something for the faint hearts!

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About Mawuna KOUTONIN

Mawuna Koutonin is a world peace activist who relentlessly works to empower people to express their full potential and pursue their dreams, regardless of their background. He is the Editior of SiliconAfrica.com, Founder of Goodbuzz.net, and Social activist for Africa Renaissance. Koutonin’s ultimate dream is to open a world-class human potential development school in Africa in 2017. If you are interested in learning more about this venture or Koutonin’s other projects, you can reach him directly by emailing at mk@linkcrafter.com.

6 Responses to “Africa: Your Business Should be Profitable in 45 days or Die”

  1. pazion

    You got me! Very insightfu thoughts … you know, I used to shudder with the mention of “Africa” as a nation.
    But, your description had me thinking the so many commonalities across the continent …

    Great piece.
    Thanks

    Reply
  2. Namolie Brent

    There is no doubt that Africa is a virgin and rewarding continent. If there is ever a time to invest in Africa and get good returns, it is now. Though 45 days is rather too short to become profitable, I’d agree better with one year.

    Reply
  3. ibrahim

    indeed its time for Africa. i pray there will be no external political interference.
    but we still need to more.

    Reply

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