It’s definitely that time of year when thoughts turn to wrapping up the year that has gone and preparing for an exciting new business year ahead. That’s why it’s essential to declutter our business lives now so that we don’t end up starting the new year carrying all our old baggage and habits with us. So, if you haven’t already started your own business decluttering process, then here are some tips to get you underway. Firstly, clean up your computers, file off all those working documents, images and notes into the correct folders and set up your new 2018 filing system. Secondly, make sure all your accounts and expenses are done for the year so that you can start afresh in January with a clean accounting sheet. Thirdly, review your website - it’s probably time for a refresh, and there’s no better time to do that than now. Fourthly, declutter your social media feeds in your inbox, and unsubscribe from anything you don’t read regularly. Finally, declutter your workspace so that it becomes a creative, highly functional and inspirational space in which to kickstart your productive new year ahead. Happy decluttering!

As entrepreneurs, have you stopped to think about the sheer buying power of women globally, and what that represents in terms of entrepreneurial opportunity? It’s estimated that women control over $20 trillion in world-wide spending. In the US alone, the purchasing power of women ranges from $5 trillion to $15 trillion annually. (Source: Nielsen Consumer) and women control more than 60% of all personal wealth in the U.S. (Source: Federal Reserve, MassMutual Financial Group, BusinessWeek, Gallup). Women also account for 85% of all consumer purchases, for example new homes (91%), vacations (92%), healthcare (80%), new cars (65%), food (93%), bank accounts (89%), and the list goes on. Women represent some serious buying power, and as a result, this presents a unique opportunity for women consumers to make some conscious purchasing decisions to support their fellow women entrepreneurs, and help women owned businesses to grow and thrive.

There is a major business opportunity potentially staring Africa’s women entrepreneurs in the face. I am talking about the growing number of international women entrepreneurs who are creating products, services and solutions that have a real relevance to African markets, and yet they encounter challenges breaking into those markets. Let’s face it, the same challenge is encountered by Africa’s women entrepreneurs trying to break into global markets. This is where the power of collaboration comes into play. Africa’s women entrepreneurs bring to the table their local market knowledge, their business acumen, and their established networks on the ground. On the reverse side, global women entrepreneurs looking to break into Africa’s markets are looking for trusted local partners with whom to build mutually beneficial, long-term relationships. The benefits can be enjoyed on both sides - Africa’s women entrepreneurs can partner with like-minded women counterparts globally to get great new products launched into the local marketplaces on both sides of the globe. After all, as the saying goes, business is a two-way street. 

I have always been one of those people who likes to listen to music whilst I’m working. I find it relaxing and it helps to get me really focused on the task at hand, cutting out all background distractions. If I’m writing my blogs or articles, then it has to be classical, jazz or ambient music with no lyrics, otherwise I end up listening to the words of the songs instead of writing my own words. It turns out that I’m not alone in this way of working. A research study by Professor Teresa Lesiuk at the University of Miami, entitled The Effect of Music Listening on Work Performance, found that people who listen to music while working complete their tasks more quickly and are more creative than those who don’t. So, if you are looking to up your productivity and make your tasks more enjoyable at the same time, then put your favourite background music on and get into the zone! 

Most of us are now just days away from the annual holiday business close down and thoughts are turning to getting some serious and much needed rest and relaxation after a busy entrepreneurial year. Last minute deals have hopefully been wrapped up, strategies are close to being finalised for 2018, projects on deadline are about to be delivered, so it’s now time to start planning how to make the most of the holiday period to regroup and get some perspective. It’s also a good time to catch up on some things you might have been putting off due to lack of time and energy over the past year. How about working on improving your personal brand, getting ready to position yourself in the most proactive way as a business founder in the new year? Or why not work on some thought leadership articles to improve your share of voice in the media around your area of expertise? It can be good for profile and business building. Or what about doing some new idea brainstorming and out-of-the-box thinking around possible new projects or business ideas for the year ahead? Get ready to recharge your creative mind, not just your energy levels during the holiday season.

The 2017 Women’s Economic Empowerment Global Summit was launched yesterday in the United Arab Emirates, and one of the key topics for discussion was “Women Excelling in the Economy.” At the Summit, global and regional experts are discussing how companies, governments, international organizations and civil society need to work together to increase the participation of women-owned enterprises in value chains and create decent jobs for women. Following the Summit, UN Women has announced it will continue to work towards a transformative, results-driven international programme, “Stimulating Equal Opportunities for Women Entrepreneurs”, with support from leading global company Proctor & Gamble. The programme aims to create business opportunities for women and in collaboration with companies, governments and entrepreneurs make value chains work for women around the world. Women’s economic empowerment is key to driving sustainable livelihoods and economic growth for all. Research shows that if women play an identical role in labour markets to that of men, as much as $28 trillion, or 26 percent, could be added to global annual GDP by 2025. 

The 2018 Global Entrepreneurship Index, which measures both the quality of entrepreneurship and the extent of the supporting ecosystem in each country and region, has just been published. The report identifies that Sub-Saharan Africa’s greatest strength is in the area of Opportunity Perception. Entrepreneurs in the region are able to spot opportunities around them for starting businesses. The region’s lowest average scores are in the area of Startup Skills, Risk Acceptance, and Risk Capital. Tertiary education is not as broadly accessible as in other regions, and entrepreneurial skills are less common. The general risk climate is not as favourable in the region as in other areas, and the capital availability lags behind other regions. The report shows there is significant opportunity for improvement, however, as Sub-Saharan Africa can look to the examples of regional leaders Botswana and South Africa, which top the regional list. Both countries demonstrate the possibility for great change and substantial improvement on relatively short time scales. Furthermore, the region has a few clear bottlenecks which, if addressed, could quickly yield overall improvements in entrepreneurial ecosystems and the economy as a whole. To read the whole report, click here www.thegedi.org

Much has been written in recent months about the exciting potential of Africa from a business and investment perspective, and in fact Africa currently hosts four of the top 10 fastest growing economies in the world today. But what is often not spoken about is the rise of the Francophone countries in Africa. The reality is that two of the four countries vaunted as fastest growing are Francophone: the Democratic Republic of the Congo and Cote d’Ivoire. What is more, Francophone African states have made some important strides towards positioning themselves as the continent’s next growth frontiers. This is backed up by GPD growth statistics of over 6% in the West African Economic and Monetary Union and 5% growth in the Central African Economic and Monetary Community. This growth indicates that Francophone Africa has stepped up its game in a big way. It also suggests that there are new opportunities for women entrepreneurs across the African continent to look at potential new markets in these countries and to tap into this growth potential for their own businesses, products and services. The future looks bright for Francophone Africa.

Learning the art of negotiation is a must when it comes to doing business, to getting the best deal from suppliers, or working with key financial partners. But for many women entrepreneurs, negotiating and getting the best deal for the business can be a challenge. However, there are a number of strategies that can be adopted to ensure the best deal is done. Firstly, it’s important to confirm that you are in a negotiating situation that you have a chance of winning - background research here is key. Secondly, once you are in the negotiation process, have your own objectives that you want to achieve firmly top of mind, and be very clear about what you are not prepared to give ground on. Thirdly, have your support system in place to help you clarify and fully understand any negotiated offer that is put on the table before you formally respond. Fourthly, make sure you have your perfect agreement scenario drafted and with you to help guide the negotiations in your favour, and ready for sign off if the talks go well. Finally, prepare yourself mentally before going into any negotiation, and ensure your attitude is right. You don’t want to feel pressured by the situation, and good preparation will help you to enter the negotiations fully focused and relaxed in order to get the best deal. Remember that ultimately, negotiation is about knowing what you want, going after it, and respecting the other person in the process.

When the rest of the world takes vacations, entrepreneurs keep working. That’s the main finding of a survey published by direct funding platform Kabbage this week. The survey, which interviewed 400 small business owners, found that 60 percent of them only take one full vacation a year, while 23 percent take less than two holidays off annually. Furthermore, when on holiday, 75 percent of small business owners continue working. One-third of small business owners work at least three of the six major holidays in the year. The survey reveals a lot about the absence of work/life balance in the life of an entrepreneur and the sacrifices they are prepared to make in order to achieve business success and personal goals. But there is something to be said about taking the occasional time-out to relax, to recharge batteries, to get perspective back, and just to kick-back and enjoy life - after all, entrepreneurs need vacations occasionally too!

We’ve all done it at some time or another, probably more often than we would like to admit - I’m talking about overthinking things! It could be that we are afraid of making the wrong decisions that could end up being catastrophic for us personally and for our businesses; or that we are afraid of being seen as a failure if we choose the wrong path; or that there are just so many things to think about, we are overwhelmed and simply end up not making any decisions at all. The bottom line is that if we continually overthink everything, we end up getting analysis paralysis and it holds us back, in life and in business. So how do we start living in the moment and trusting our gut instincts more? Well, it starts by accepting that life is unpredictable, and occasionally it will throw you a proverbial curve ball or lemon - it’s not perfect but that’s okay, accept the uncertainty and don’t let it stop you from making decisions. Secondly, you can’t predict the future, so stop trying. Go a little more with the flow as it happens, control what you can today, and stop thinking too much about what could happen in the future. Finally, keep moving forward - take opportunities that present themselves, take chances, explore new things, get out of your comfort zone, and say yes more often!

Successful entrepreneurs talk a lot about the importance of focus to achieve key goals, but it seems its more about the type of focus used to really achieve those big wins. Taking a macro focus to achieving long-term goals is more about developing the art of laser focus, honing in on just one or two of those goals that are part of your big vision for your business until they are achieved. To develop this macro focus, it starts with being able to visualize those goals in order to make them real. Many uber-successful entrepreneurs use a vision board where they illustrate through pictures and words what they want to achieve for their business, putting it in a place where they can see it each day to keep them motivated. Macro focus is about making tangible progress to achieving those long-term goals, taking single small steps each day that get you closer to making the big vision a reality. It’s also about keeping yourself accountable on how much progress is being made each day, and making that check part of your daily routine and motivation. Bill Gates once said: “My success, part of it certainly, is that I have focused in on a few things.” 

There is something life affirming about positive people who have the capacity to believe that if you can visualise it, you can make it happen. The inspirational US entrepreneur and best selling author of Million Dollar Women, Julia Pimsleur, has a really interesting take on this subject. In her latest blog, whilst celebrating Thanksgiving with her readers, she suggests that as an alternative take on the annual celebrations, entrepreneurs should perhaps try being grateful for things they haven’t gotten yet - interesting concept! She is premising this suggestion based on the Law of Attraction, knowing that you get more of what you focus on, and the more specific you can be, the better. At a practical level, and to help the visualisation process, Julia suggests writing down the three things you would like to have happen before the end of 2017 and then be grateful for them. By writing these aspirations down, and talking about them as if they have already been achieved, it brings them closer and makes them seem more attainable in reality. Why not try it? To find out more about Julia Pimsleur and her book Million Dollar Women, go to www.juliapimsleur.com

Have you noticed how often the quality of your day is determined by how it starts? Chances are that if you kickstart your day in a frenzy of stressful activity, then the rest of the day will follow suit. Talk to some of the most successful women entrepreneurs around the world and they will tell you that putting the right morning routine in place is good for wellbeing and productivity. So, what does your morning look like? Maybe it’s a whirlwind of getting yourself and your family dressed, breakfasted and ready for the day before hitting the traffic queues to get to the school run and office? Perhaps it starts off more calmly with meditation, exercise, a healthy breakfast and tea. Or maybe you are one of those entrepreneurs who catches up on emails, social media posts and online news streaming whilst sitting over your croissants and a double espresso. And while there’s no “right” way to starting your day, there do seem to be some commonalities when speaking to women entrepreneurs about their morning routines. Firstly, don’t skip breakfast and secondly, do at least one thing that makes you happy, whether that’s taking the dog for a walk, putting your earbuds in and going for a jog, taking a relaxing bath, or reading the morning newspapers. Life’s too short not to start each day with a great routine.

When next year’s World Economic Forum takes place from January 23-26, 2018 in Davos, it will be co-chaired for the first time by women. The line up includes International Monetary Fund director Christine Lagarde, Norwegian Prime Minister Erna Solberg and IBM’s chief executive Ginni Rometty. The seven co-chairs for the four-day event were announced in the face of criticism that the conference has in the past lacked female representation. The Co-chairs, who were chosen to reflect global stakeholders, are all leaders in their fields, and shape the programme and lead discussions and panels. The timing of this announcement couldn’t have come at a better time, particularly in light of The World Economic Forum’s 2017 Global Gender Gap Report, which analyzes disparities in health, education, economy, and politics. It found that the overall average gender gap rose to 32%, up from 31.7% in 2016. It’s a fractional increase, but it’s the first uptick since the Forum began tracking gender inequality in 2006, signalling that efforts by the public and private sectors to prioritize gender parity have stalled. This is not a good sign for global economies, and particularly not good news for Africa. The report also announced that the annual credit gap for female entrepreneurs is almost $300 billion. This impedes women’s ability to start or expand their businesses, reducing opportunities to create much needed jobs or boost economies. Let’s hope that by taking a proactive gender lens to the next World Economic Forum in January that real and lasting solutions can be found to redress the balance.

Yesterday, 19th November, marked the 3rd global Women’s Entrepreneurship Day (WED). Launched in 2014, WED works globally to empower women and girls to become active participants in the economy by igniting a network of women leaders, innovators, and entrepreneurs to initiate startups, drive economic expansion, and advance communities around the world. In order to achieve this ambitious goal, WED builds and catalyzes the vital networks of like-minded individuals and organizations that women business leaders need to realize their full potential and change the world. WED is celebrated in 144 countries and 110 universities. Each year it convenes Business Leaders, Government Officials and Civil society to collaborate and find solutions in critical areas of entrepreneurship eco-systems, education and policy creation to empower women in business. Since the first WED in 2014, the organization has  become a powerful network for women in business, and has reached over 5 billion people. It promotes best practice, links women entrepreneurs with partners and consumers, and supports its global ambassadors to drive societal and economic change. To find out more about Women’s Entrepreneurship Day, visit www.womenseday.org

This week, more than 100 senior executives, entrepreneurs and thought-leaders from the world of media and business gathered in Accra for the annual Africa Business Media Innovators summit to discuss the changing face of media. The event aimed to examine the many new trends and approaches in the wider communications sector, so that media companies can share their strategies for navigating these changes, and their efforts to impact inclusive and sustainable economic growth on the continent. One of the interesting topics discussed focused on how leveraging the changes in media practices would enable more Africans to tell stories about Africa, and particularly, how this could be utilized as a tool to help drive inclusive growth. Matthew Winkler, Co-Founder of Bloomberg News and Editor-in-Chief Emeritus said: “As the geopolitical landscape changes with African economies showing the most dynamic demographic opportunity for growth, the continent must continue to build media capacity that will serve Africans’ increasing need for accurate and relevant business information.” All of this should be good news for Africa’s women entrepreneurs who need to get their unique business and brand building stories told more frequently in the media, both at home and abroad, giving them a more powerful voice and greater visibility.

COP23, the UN Climate Change Conference taking place in Bonn, Germany, right now is coming to a close tomorrow, but one interesting theme is emerging from the talks, and that is the central role of women in clean energy entrepreneurship to help address climate change. There are 2.7 billion people in the world that still rely on biomass (firewood, charcoal and animal waste) for cooking, lighting, and heating, many of whom live in Africa. Exposure to smoke from these traditional biomass-based cookstoves and open fires causes over 4 million premature deaths every year, the majority being women and young children as they do the cooking in their homes. The Partnership on Women’s Entrepreneurship in Renewables (wPOWER) advocates for the direct involvement of women as entrepreneurs, innovators, decision-makers, and policy practitioners to be part of the solution to change things for the better. wPOWER has empowered a world-wide network of over 5,500 women clean energy entrepreneurs who work in rural underserved areas. This has significantly enhanced outreach, and enabled greater and easier access of clean energy information, solution and products to rural communities. wPOWER attributes its success to its unique model of operation comprising of three key pillars: Building evidence, sharing best practices, and advocating for women’s leadership in clean energy entrepreneurship. 

We all know the phrase work smarter, not harder, but as entrepreneurs do we actually practice that approach as much as we should do? Here are a few practical tips that can help to really maximize your precious time in the business day. Firstly, the trick is to prioritize what needs to be done each day, and don’t allow distractions until those high priority tasks have been completed. Secondly, it’s important to know when to walk away from a particular task that is bogging you down, take a break and get some fresh perspective, and then return with a fresh eye. Thirdly, eliminate distractions (particularly in the social media space) whilst you are working on a particular task and focus - you will get that task done quicker. Fourthly, work in set chunks of time on bigger tasks so as to break down these seemingly onerous projects into manageable pieces. Finally, delegate - chances are not all your essential tasks and projects to be completed will need you personally to complete them, bring other people and expertise in to help. By working smarter, not harder you will manage your time better, get things done, and achieve your daily return on time and effort investment.

So just how easy is it to do business in Africa, and are some countries more geared up towards supporting entrepreneurs starting new businesses than others? Well, according to the latest World Bank Doing Business Report published this month, the answer is yes - and the top 10 African countries making the list might surprise you. Mauritius takes the top spot in this year’s list moving up to 25 in the list overall due to a string of reforms that make it much easier to register and run a business in the country. Second comes Rwanda, moving up 15 places in the list due to the fast turnaround time for getting new businesses registered. Morocco comes in at number three having improved its online tax filing and payment system and its overall business registration process. Kenya has also moved up the list thanks to its new procedures that make starting a formal business much easier. And Botswana has made it easier to trade cross border for entrepreneurs, taking it to number 5 in the list. Other African countries making this top 10 list include South Africa (dropping its ranking in this year’s line-up as it now takes longer to register a business), Zambia, Tunisia, Seychelles and Lesotho. To read the Doing Business report in full, click here.