Being an entrepreneur means that negotiation is part of everyday life, but for many it’s hard to do, meaning that often opportunities get left behind on the negotiation table. Yet, like so many other things in life and business, negotiation is a skill that can be learned. Being a good negotiator starts with great preparation. Before walking into any negotiation situation, it’s essential to have done your research on the people or companies you are in discussions with, to have a good appreciation of your own value proposition, and to know how many potential options are on the table. You also need to practice your pitch, know your USPs, and have answers to all the potential questions that could be asked at the ready. During a negotiation, it can be tempting to simply say yes to the first proposed deal, just because it is offered. Yet, if you have done your homework and really know your value, then don’t be afraid to say no if you are not happy with what’s being offered. Propose an alternative that is within your value proposition. Finally, be confident - you are much more likely to get what you are aiming for if you know how to confidently ask for it.  

The winners of this year’s African Entrepreneurship Award have just been announced at a ceremony in Casablanca, Morocco. 40 finalists from 19 African countries were brought together to reward the most impactful sustainable projects in the three categories of the programme: education, environment and unchartered fields. In all, 12 winners from nine African countries shared prize money of US$1 million, with three women entrepreneurs being recognised for their innovative and high impact businesses. A first prize of US$100,000 went to South Africa’s Louise Williamson, founder of Sustainability Professionals, which develops safe and efficient cook stoves for schools, directly improving the lives of thousands of women and children in rural schools and drastically reducing lung disease among women cooks. Innovation prizes of US$50,000 went to Morocco’s Meryam El Ouafi, founder of Green Engineering Mission, and the creator of moist tube irrigation technology which solves irrigation problems and eliminates water waste; and Rwanda’s Christelle Kwizera, founder of VOMA Groundwater Solar Kiosks, a business purifying water for rural communities using innovative water collection and alternative income models. Congratulations to each of these game-changing women entrepreneurs who are making a real difference to people’s lives in Africa. 

No matter whether you are a startup or an established company, staying on top of the latest trends in your business or industry sector is key if you want to get ahead and stay ahead. Knowing how market forces may be changing, or how customer needs or interests are evolving, helps to shape the future direction of your product and service development.. But how do you practically keep up with what is happening out there when you are busy running your business? Here are a few tips to help keep you on top of your game. Firstly, subscribe to one or two key industry e-publications - get them delivered straight to your mobile for fast updates. Secondly, check out the latest industry gatherings and meetups via LinkedIn, and if you can’t get there, make sure you read the post event feedback. Thirdly, make sure your major industry newsfeeds arrive in your inbox as soon as they are published. Fourthly, become a member of your industry associations and attend the regular networking events - you learn things and meet new people at the same time. 

We all know the power of word-of-mouth, when customers recommend others to check out your business, its products and services. It is an important driver of new business and does so much of the sales work for you. But the challenge is how to get your satisfied customers to spread the word on your behalf. Here are six top tips to help you to harness the power of word-of-mouth marketing. Firstly, it starts with you providing a great product or service offering to your customers - if it’s good, people will talk positively about you. Secondly, ensure your customer service is world class - people always remember the way they are treated. Thirdly, cut out the jargon and give your customers the information they need, when they need it. Fourthly, appreciate your customers - say thank you for their business. Fifthly, stay connected to your customers - communicate with them regularly. Finally, maintain your visibility in the marketplace - use social media, publicize what you are doing, network at events. Remember, if your customers can see and hear from you regularly, and they like what you are doing and saying, they are more likely to tell others. 

The theme of this year’s Global Entrepreneurship Summit, which took place two weeks ago, was Women First, Prosperity for All, with a focus on supporting women entrepreneurs to foster global economic growth. The chosen theme was a response to the recognition that globally, despite recent progress, limited access to technology, nutrition, and health services prevent women, their families, and their communities from reaching their full potential. To close this divide, this week USAID announced several efforts, including: WomenConnect Challenge, which will help to bridge the gender digital divide. In early 2018, USAID will issue an open call for proposals for innovative ideas to bridge the gender digital divide by addressing the barriers of affordability, security concerns, and restrictive social norms. It’s an opportunity for innovative women entrepreneurs in Africa to provide possible new digital solutions to many of these challenges. 

Finding a gap in the marketplace in which to start a business can often be one of the most challenging aspects of being an entrepreneur, but often those market opportunities are right under our noses. Successful entrepreneurs identify challenges in business or life that require innovative solutions, and developing those solutions leads to the creation of exciting new businesses. A great example of this approach to entrepreneurship is leading Ghanaian techpreneur, Farida Bedwei, co-founder of Logiciel. She recognised that access to finance was a real challenge for many people in Ghana who are not part of the conventionally banked system. So together with her business partner, they created a revolutionary new finance platform, a cloud banking solution that allowed access to small scale loans within Ghana. This was a real game-changer in the country in terms of addressing the challenge of financial inclusion, and genuinely changed lives and the economic prosperity of those now able to access the finance they needed. This ability to see a challenge as an opportunity in business is what defines a successful entrepreneur. 

How many times in life and business do you find yourself putting off doing something, waiting for that perfect moment that never comes? I read an interesting quote today in an article I was reading on the plane which said: "If you don't do it, someone else will." How true is that? Ideas don't simply wait for us to get our act together and start, the chances are that others are thinking of the same idea at the same time, but they are acting on it and beating you to the punch. And let's face it, there is nothing worse than seeing what you thought was your original idea, coming to life in the hands of someone else, being done in a way that doesn't reflect your vision for it. So, the question is, what are you waiting for? Do it today before someone else does. If you need any further encouragement to take action, remember the famous words of Abraham Lincoln - "Things may come to those who wait, but only the things left by those who hustle!"

The much anticipated Seedstars Africa Summit is gearing up today in Maputo, Mozambique, with the first of two planned private bootcamps for the 20 Seedstars World Local Winners. The Regional summit itself is on the 14th of December, and is the final event of the Seedstars tour in Africa. After visiting more than 20 different countries from May to November 2017, the best entrepreneurs from across the continent are gathering together for this regional conference, joined by key corporate, financial and government stakeholders. The aim is to share knowledge, connect regional and global stakeholders, and to inspire attendees to believe in the potential of innovation on the African continent. The event promises disruptive conferences, networking sessions, inspirational talks and workshops about how to impact people’s lives in emerging markets through entrepreneurship and technology. To find out more about this game-changing event for aspirant, innovative techpreneurs, visit the website here.

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.”