LIONESS TODAY. OUR LATEST STORIES.
"Women entrepreneurs have to work twice as hard to succeed... the best thing to do is to remain resolute, focused, ethical and preserve your integrity."
Divine Ndhlukula, founder of SECURICO Security Services (Zimbabwe)
A great business idea alone counts for nothing without execution....
"Anyone who wishes to be an entrepreneur must know that bright ideas are great, however, they are not even half of the work; execution is everything. Yes, as the saying goes, ‘there is nothing more powerful than an idea whose time has come’, but when that time comes, you must be prepared to bleed sweat, tears and blood to bring your ideas to life."
Mo Abudu founder and Chief Executive Officer of EbonyLife TV (Nigeria)
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So here’s an irony! According to a new international research study conducted by Vistaprint, it seems a fear of failure in business actually means women entrepreneurs tend to succeed more. The survey, which questioned 2000 business owners across Europe, investigated their attitudes towards failure in business. A real fear of failure seems to contribute to female business owners making fewer costly mistakes and as a result building more sustainable businesses. Women were also twice as likely to believe the best way to deal with business failure was to pick themselves up and try again, as many times as needed. Other interesting differences between the women entrepreneurs and their male counterparts were revealed when asked what they could have done to prevent having to close their businesses. 44% of women said they could have been more strategic compared to 15% of men. 31% of women said they could have better developed their business skills and better planned ahead, compared to 11% and 14% of men respectively. This suggests that women entrepreneurs are better at intraspection and learning from mistakes in order to keep moving forward.
As someone who spends her life traveling to different cities around the African continent and the rest of the world constantly, I am exposed to the sheer size of the luxury goods market. Just walking through airports or city shopping districts, I get to see the proliferation of global luxury brands, from handbags and scarves, to footwear and clothing, all carried and worn as visual status symbols. It’s estimated that the global luxury goods industry is worth more than $1.5 trillion, and it is set to grow year on year. it’s time that Africa’s luxury brand builders got a share of this exciting marketplace. There is no doubt that the continent has a new generation of talented women entrepreneurs creating luxury products and brands with the potential to break through. But getting that all important exposure is key. When we showcased 10 leading women luxury brand builders from the African continent and the Diaspora at our Startup Night! Africa London event earlier this year, the event generated a huge amount of interest. We continue to harness the power of digital media to help expose these high growth potential African luxury brands to the world. It’s only a matter of time before we see them making their mark in key cities globally, taking their place alongside the powerhouse luxury brands that have been around for decades.
Have yourself an inspired entrepreneurial day! - Melanie