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TODAY'S ENTREPRENEUR ADVICE
Focus on adding value....
"Don't wait to have everything all figured out. Just start. Also don't be overly preoccupied with the desire to make money. Let your focus be on adding value through your business and meeting the needs of your target market. That's what will ensure the long-term sustainability of your business."
- Adedoyin Jaiyesimi is the founder of The Sparkle Writer's Hub in Nigeria, providing a supporting learning environment for aspirant writers to develop that talent and pursue their own entrepreneurial dreams. Adedoyin's love for writing and creating content led her to launch The Sparkle Writer's Hub. She currently has two people who work full-time, further supported by a team of resourceful volunteers. - Read Adedoyin's startup story here.
IMAGE OF THE DAY
One of the biggest barriers to the growth and development of entrepreneurship in Africa is corruption. How often do you read in the newspapers or hear people talking about business owners being approached for a bribe by an official in order to get a contract. Such ethical issues are detrimental to the spirit behind entrepreneurship and ultimately have a widespread effect that at the end of the day reaches every facet of the community. When bribes are paid, it stands to reason that those additional costs will be passed on to consumers; or for those who don’t pay bribes, they will experience delays and inevitable frustrations in getting things done, translating into product and service supply challenges for the consumer. Corruption has far-reaching tentacles that keep the continent in a vicious cycle that hinders entrepreneurship and ultimately stunts growth. There is a quote by leading Rwandan education publishing entrepreneur, Lydie Hakizimana, that sums up the real cost of corruption on entrepreneurship, she says: “Corruption leads to a lot of missed opportunities, .... Corruption stops someone to think that he can be an entrepreneur. Corruption makes you fear to take the risk. When you have corruption in a country, people are just discouraged. There is no hope. They don’t see themselves successful in the long term.”
I have had several conversations this week with women entrepreneurs in the Lionesses of Africa community who are going through a range of challenges right now, and one word kept coming up repeatedly - persistence. And listening to their stories and experiences, those challenges will be familiar to so many others as each day they fight to keep their businesses going, or to take their businesses to the next growth level and into unknown new territory. Starting a business in the first place takes courage, but keeping it going, keeping it relevant and ensuring it grows, takes persistence. So this morning I would like to celebrate all those women entrepreneurs who are chasing their dreams, pushing through the inevitable difficulties, and getting creative in the face of adversity. Let’s learn from each other and never underestimate the power of persistence, it is an essential trait to develop as an entrepreneur.
Have yourself an inspired entrepreneurial day! - Melanie