For me, this time of the year is really special. It’s not just a time to wind down a little and spend some quality time with family and friends, but it’s also a great time to reflect on the past year and everything that has been achieved from an entrepreneurial perspective. Most excitingly, it’s the perfect time to start thinking about the year ahead, planning new goals and new ways of doing things, and improving upon experiences from the year just completed. In a relaxed, more reflective environment, it’s so much easier to get into a productive rhythm early and be refreshed, ready to innovate and hit the ground running when the first working day of the New Year arrives.

I was doing some holiday catch up reading this week and came across a fascinating article on the founder of mega retail fashion brand Zara, Amancio Ortega, which told the story of his journey from poverty to one of the fashion retail world’s real game changers. What stood out for me reading the story was that his secret to success was listening to what customers want, understanding that need and responding to it rapidly with quality yet affordable products, and ultimately remaining passionate about the work and the brand. By putting customers at the heart of the business, those customers have become its biggest brand ambassadors. A lesson we can all learn as entrepreneurs!

When we reach this time of the year, there is always the temptation to take that well-deserved break and just switch off, recharge the batteries, and relax. However, there is something else that can be done during the holiday downtime that will help to prepare for the year ahead and get it on the right track from day one - that is thinking about how your planned activities will result in your most productive year yet. There is nothing better than kickstarting a new business year with a really solid roadmap, clearly outlining your objectives and the steps needed to get you there. Having a practical and focused Q1 action plan in place will give 2016 a great start.

As many successful entrepreneurs will tell you, to reach the pinnacle of success you need the right people in your life to help you get there. Positive people, with positive energy and the right inputs when required. So now is a good time to take stock of all the people you have around you on your entrepreneurial journey. Ask the hard questions - are they still the right people, or do you need some additional specialists in key areas such as finance, marketing, sales, etc? Make sure you contact people now that you want in your life next year. If you are lucky enough to still have all the right people around you, then remember to thank them for all their help so far and get them back on board for 2016.

Having a key goal to work towards is so important as an entrepreneur, it helps to keep you focused. So now, as the end of the year is fast approaching, it is the perfect time to set that one big goal that you want to accomplish for yourself and your business in 2016. Think about it carefully, write it down and set out a clear action plan to achieve it by this time next year. Create the milestones to be reached throughout the year, identify the resources required to get you there, and the people you will need to work with to make it all happen. On New Year’s Day, set a daily countdown to your goal on your computer or in your daily diary, and then start working towards making that goal a reality. Hopefully by this time next year, you will have something great to celebrate.

In our busy lives, it’s all too easy to get so wrapped up in the craziness of our entrepreneurial journeys in search of the life-changing business success that we crave, that we forget to celebrate the small successes as we go along. Yet these are just as important as they validate our decision to become entrepreneurs. They help to make us more determined to keep going, even when things are challenging, and they send a message to all those around us that we are on the right track. By allowing ourselves those moments to pause, recognise the progress we are making, and celebrate our small successes, we stay inspired and get to really enjoy this unique entrepreneurial journey we are on.

We all know it’s competitive out there in the marketplace, and as entrepreneurs we know only too well that no matter what our line of business, we are going to have competitors who are offering similar products or services - after all, there is very little that is new out there. Everyone talks about finding ways to distinguish a business from the rest, to identify a unique selling proposition (USP), to differentiate a product offering from the rest of the pack. But the bottom line is that ultimately it’s all about giving our customers a memorable, positive, life-enhancing experience, whether they are buying a product or a service, and that is what makes a business stand out. If we can captivate customers, get them on side, make them feel valued, they become our best sales team out there as they share their great experience with other potential clients. 

As entrepreneurs we all understand the need to be courageous in our lives and our business - to think big, to go for our dreams, to keep going when things get tough. But we also need to have more courageous conversations in our daily lives, the ones that can make a real difference to us as individuals and to our businesses. Whether it is picking up a phone to the CEO of a company we want to partner with in the future and pitching a possible new collaboration idea; or contacting a global entrepreneurial icon to make an inspirational connection; or arranging a meeting with a VC to talk about future, life-changing investment opportunities in our businesses. We need to make room for these courageous conversations each day - they can make a big difference when it comes to realising those big dreams of ours.

Steve Jobs, Co-Founder and CEO of Apple once said: “I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.” There is definitely something to this theory. Speak to most entrepreneurs and they will tell you that through the course of their journey to success, they have had to deal with challenges that would have knocked most people off-course in the early stages.  From bankers saying no to funding; to family members saying an idea just won’t work so why not go and get a real job; to markets saying your product or service is not quite right and needs rethinking. There’s no doubt about it, being an entrepreneur is not for sissies, but the trick is to have belief in your business idea, to work 24/7 until you start to see traction, and persevere, even when the going get’s tough.

Africa is catching on fast to the e-commerce revolution that has transformed economies in other parts of the world, and women entrepreneurs are beginning to take advantage of this new trend. According to a recent Ipsos study, cross border shopping in Africa is on the increase, with around 80% of the continent’s online shoppers looking to buy internationally. Two countries in particular are leading this new trend - Nigeria and South Africa - with both playing a big role in boosting e-commerce as a whole on the African continent. Here’s the interesting factor, 90% of online shoppers in Africa own a smartphone or feature phone and use them to complete their online purchases. With Nigeria’s mobile penetration rates averaging 59%, along with 93 million mobile users in the country, and South Africa’s mobile penetration rates standing at 50%, this represents huge market potential for Africa’s women entrepreneurs who are e-commerce retailers. This is the era of e-commerce in Africa, and women entrepreneurs can look to take advantage of a whole new generation of consumers who want to shop online.

As entrepreneurs with busy lives in a connected world that seems to be switched on 24/7, we are bombarded by information each day - and undoubtedly a lot of this information can be useful and harnessed to make our businesses and our lives better and more efficient. But we mustn’t forget that the very part of our DNA that makes us entrepreneurs is our intuition. We don’t always need external resources, tips and advice to tell us what we intuitively know is a good idea, or a great way of doing things. As creative and innovative entrepreneurs, we should trust in our own intuition to know when something just feels right - after all, that intuition is probably what leads most of us to take the plunge and start up our own businesses in the first place. So, trust your intuition and base your decisions on what feels right to you, and then support that intuitive decision by using the information flow around you to back it up. 

In the world of entrepreneurship, being an innovator, a maverick, and a change-maker is part of the journey and, for the most part, actively encouraged by a world that needs such people to make a difference, to find the solutions, to make the next big development happen. Yet, on the flip-side, if you are creating something bold, different, important or thought-provoking you are going to attract some critics - it’s just human nature. But we all know that sometimes, when we are so driven and passionate about what we are doing or creating on our entrepreneurial journey, it's hard to take criticism and it can be painful. So here's a piece of advice that I read recently, and which makes complete sense, not to mention putting a smile on the face when needed. “Learn to deal with criticism like a pot of pasta you are draining for dinner. Release the water and keep the good stuff! Great advice. 

When you ask successful entrepreneurs how they achieved their business success, the answers are usually very similar. They will tell you that it is a combination of sheer hard work, guts, determination, a never give up attitude, total belief in a business idea - all those things and more. But ultimately, it is about finding that unique selling point that differentiates what you do, and what you create or offer to your customers, from the rest of the pack. As serial entrepreneur, Richard Branson, says: “To be successful, you have to be out there, you have to hit the ground running, and if you have a good team around you and more than a fair share of luck, you might make something happen. But you certainly can’t guarantee it just by following someone else’s formula.” Wise words!

At Lionesses of Africa, we are constantly delighted by the power of women startups in Africa to punch well above their weight in their various sectors, demonstrating a tenacity and complete self belief that belies their size. From women solo-preneurs who have a passion for what they do and a drive to succeed that many a corporate would envy - through to the social entrepreneurs that believe wholeheartedly that individuals really can make a difference when it comes to finding solutions to some of Africa’s biggest challenges. There are so many great examples of small enterprises with big ideas making a huge impact. In fact, it reminds us of a great quote by the great UK entrepreneur, human rights activist and environmental campaigner, Anita Roddick, founder of The Body Shop. She said: “If you think you’re too small to have an impact, try going to bed with a mosquito.” 

Several recent studies support the notion that you can create greater economic and social value by investing in women entrepreneurs. A recent analysis from the Goldman Sachs 10,000 Women initiative shows that women entrepreneurs participating in the program from 43 developing countries not only dramatically expanded their businesses, but importantly, eighty-seven percent of participants went on to mentor other women entrepreneurs in their communities. Other research supports the Goldman Sachs findings, that successful women entrepreneurs understand the power of giving back. Another recent study found that women are likely to invest 90 cents of every dollar they earn in supporting their family’s and their community’s education, health and nutrition, compared to 30 or 40 cents for men. Women entrepreneurs appreciate the impact they can make by investing in their communities and their families using the profits from their businesses.

I have just been reading the latest Global Entrepreneurship Monitor Women’s Report 2015, which has some fascinating findings, not least of which is the importance of role models. In those countries where there is a high percentage of early stage women entrepreneurs (and Africa has a great number of these) there is also the likelihood that those women know and network with other successful women entrepreneurs. These role models play such an important part in the successful journeys of these women owned startups in Africa, as they offer tangible support, advice, insight and access to useful networks. It reminds us that, as women entrepreneurs, we can all be role models to the next generation of young women startups that are following in our footsteps.

Have you noticed a growing wave of interest in, and affection for, all things African around the world over the past year? Whether it is South Africa’s talented comedic export, Trevor Noah, taking the US chat show circuit by storm, or some of Africa’s leading design talent capturing the imagination of the runways of New York, Paris and London. Currently, the world is waking up to the incredible depth of talent we have on the African continent. On the entrepreneurial scene, some of Africa’s most innovative women-owned companies and brands are getting the world to sit up and take notice, and as a result, putting Africa on the map. Companies such as trendy Ethiopian Fair Trade footwear manufacturer, Sole Rebels, headed by the global brand-builder, Bethlehem Tilahun Alemu. The brand is now retailing in over 45 countries and by 2022 is looking to open over 500 new stores worldwide. Bethlehem is just one of a new generation of visionary African women entrepreneurs who think big, and think global. 

Most entrepreneurs know only too well how challenging starting up a business can be, and then over the years, just how difficult it is to maintain and grow that business for the long-term. Entrepreneurs also value the important role that mentors play on that journey and understand the value of giving back to others who are starting out on their entrepreneurial journeys. The most recent Ewing Marion Kaufmann Foundation report on emerging entrepreneurs published in November this year found that more than half of the entrepreneurs interviewed (54%), gave back to other entrepreneurs by mentoring, giving presentation advice, or encouraging others to start a business. Interestingly, of those entrepreneurs who said they didn’t have a mentor, 75% of them did not give back in any of the ways mentioned above. Those who benefit from the value of mentoring in their own entrepreneurial lives are more likely to give back and make a difference to the lives of others.

There’s an old saying that goes ‘the customer knows best’, and it would appear that it still stands true today. In a world where customers have so much choice, and where they are bombarded 24/7 across all media with options of what do buy or whose service to use, they have become a dynamic voice for entrepreneurs to listen carefully to. The latest EY report on emerging entrepreneurs certainly backs this up according to feedback gleaned from the early stage entrepreneurs it interviewed. Though experienced, these entrepreneurs don’t assume they know everything, and they rely on customer feedback and market intelligence to improve the products and services they offer. In fact, in the survey, fifty-seven percent of companies added a new product or service line, and 66 percent changed their product or service, due to customer demands and feedback. As one entrepreneur stated, “We take a lot of that customer feedback to decide where we’re going to invest.” 

Here’s an interesting fact to start the day. According to the results of a new snapshot survey of EY emerging entrepreneurs undertaken by the Kauffman Foundation, it would appear that these exciting new emerging entrepreneurs are primarily motivated by a love of entrepreneurship itself. These entrepreneurs may start their companies for a wide range of reasons, but the most common is that they simply love the notion of being an entrepreneur (69 percent). For many, the idea of being their own boss and in charge of their own destinies, was the key decision-making factor in them taking the leap and starting their own businesses. Other common motivations included wanting to find a solution to a problem that they faced or they saw potential customers or society facing, or because they thought they could provide a product or service better on their own.