They often say that your business and your brand is worth what somebody is prepared to pay for it. But whether you are interested in selling your business at some point in the future, or you are trying to get investors on board now, it’s important to know the real value of the business you are building. So how do you calculate the actual value of your business? Hiring a professional appraiser is an obvious first step, but as a basic guide there are three methods used to assign value. Firstly, the asset based method looks at what it would cost to replace all the assets in the business and assigning a value to that cost. Secondly, the market based method compares other similar businesses in your sector or area to determine a value. Thirdly, the income based method evaluates pretax and after-tax earnings or uses another income metric such as gross sales, plus the value of the tangible assets and future growth prospects. It sounds complicated, but it is a good way of tracking the growth and value of the business you are building. 

Here’s some news that might not come as a complete surprise to many of us as entrepreneurs. Despite all the challenges of running and building a small business, most employees have more fun working for small businesses than for big businesses. That’s according to the 2018 Small Business Happiness Survey which has just been published. In fact, 87% of small business employees say they are actually happiest working at a small business, which the survey defined as an organization with 3 to 49 employees. They are also more engaged in the business, which means they make a big difference to its success. So what are the secrets to creating happy employees in a small business? The top findings from the survey include creating a fun working environment; encouraging feedback and sharing of new ideas; pay equity between employees; and recognition for a great job done. Ultimately, its about making everyone feel they are part of the business family.

We take our cars in for an annual service; we give our bodies an annual health check-up; so why don’t we do the same for our business brands? A strong, healthy brand is a key factor in the success and prosperity of your business. It directly affects your ability to sell your products, to raise funding, to hire the best employees, and to grow. A healthy brand is an indicator of a healthy business. So here are a few questions to ask to ensure your brand is in good shape for the year ahead. Is your brand supporting your business strategy? Do your customers understand what your brand stands for? Is your brand positioning consistent no matter where it is used? Is your brand message resonating with customers? If the answer is yes to all those questions, then your brand is in good shape. If not, then hold some focus groups to get direct feedback from your customers and start making some adjustments to your brand and its positioning. You can then get ready to start the new year off with your strong brand ready to go.

Can you ‘think’ your business into a bigger, bolder, future, one that pushes boundaries and expectations? Susan Duffy, Executive Director of the Center for Women’s Entrepreneurial Leadership at Babson College believes you can. The potential for business growth often focuses on factors such as innovation, access to markets, access to capital, and market trends. But Susan suggests that if women entrepreneurs really want to grow their businesses, then it starts with them thinking bigger and expanding their expectations. She says that if your expectation is to build a $1 million business, your brain will subconsciously interpret data through the $1M lens. It will let in information that aligns with that goal, steering you towards achieving that outcome. In order to push our own boundaries of success, we must intentionally and regularly revisit our expectations and goals, and keep pushing those boundaries until we realize our ambitions.

Finding ways to successfully address the digital gender divide is a topic generating lots of attention now. It is also the subject of a new report published this week by the OECD “Bridging the Digital Gender Divide - Include, Upskill, Innovate”. In Africa, digital transformation is recognized as a way of economically empowering women and can contribute to greater gender equality. E-commerce platforms, mobile phones and digital financial services empower women with the essential tools to create a business and earn a living. By tapping into the digital economy, it increases the ability of women to learn new skills, to innovate, and to become high impact contributors to local economies. By bridging the digital gender divide, it can provide new sources of economic growth and drive sustainable development on the continent. As the report states, the digital gender divide needs to be resolved, and now. There is no reason for women to trail behind in digital transformation, and the cost of inaction is high in Africa. 

A new generation of enterprising young women who are socially conscious are emerging on the African continent. They understand the power of entrepreneurship to make big change happen. Importantly, they harness their passion and knowledge to create exciting, high impact  businesses to solve key challenges. This year’s prestigious Anzisha Prize was announced this week, celebrating Africa’s most innovative social and business entrepreneurs under the age of 22. And some exciting new impact driven women entrepreneurs caught the attention of the judges. This year’s winner was Cameroonian health-tech entrepreneur Melissa Bime who was recognised for INFIUSS, her online blood bank and digital supply chain solution which ensures local hospitals have access to blood. Read Melissa’s story here. She is a great example of how young enterprising women are creating real solutions to big challenges that affect their local communities and the continent as a whole. Africa and the world needs more like her!

The fifth annual ‘EY Global Job Creation Survey’ found that entrepreneurs are leaders in creating jobs. But here’s the interesting news, it seems that almost 67% of young women entrepreneurs, those under the age of 35, expect to grow their workforce in the year ahead. Additionally, they anticipate their net workforce growth to be 16%, more than five times the expected growth rate among those over 55 (3%). This makes sense when you consider that these younger entrepreneurs are usually at an earlier stage of their company’s life cycle. It’s when we would expect to see more dynamic growth. Another interesting trend amongst these young women entrepreneurs is that they are twice as likely to characterize themselves as disruptors. They have more of a global mindset to their businesses, and expect to hire more people in overseas markets than their older peers. This statistic reveals another facet of disruption: it knows no borders. So, when Africa looks to find sources of much needed jobs growth in the immediate future, it’s the continent’s young women entrepreneurs who are contributing to the solution.

At this time of year our attention turns to planning for the year ahead, so what better time to revisit every aspect of our businesses and hit the refresh button. When was the last time you looked at your brand, really looked at it with fresh eyes? Perhaps it needs an update? Maybe your sales and marketing strategy needs a rethink and a new approach to better equip the business to break into new markets next year? Or perhaps your product range needs to be expanded or modified to meet changing customer buying patterns? For any business to remain relevant, it’s essential to keep transforming, to keep refreshing in order to stay open to new ideas and maintain high energy levels. If you need some inspiration as to how to practically achieve this in your own business, read the book Hit Refresh by Microsoft CEO, Satya Nadella. It’s fascinating to learn how even the biggest companies in the world have to continually refresh their thinking and their business models in order to stay relevant in our lives. 

There is a well-known saying that competition makes us faster, but collaboration makes us better. The notion being that if you want to get your product or service to market quickest, then go alone. But if you want to change the world with your business and go bigger and further, then you need to go together with others. And in the world of entrepreneurship, there is definitely some truth to that. Collaboration makes us think and do things differently. It challenges us to push our own boundaries and to question our traditional ideas. It makes us think bigger and more audaciously. Collaboration amongst women entrepreneurs can take many forms. But the one common factor for success is the bringing together of like-minded, visionary people who bring their very different perspectives and experiences to the business to make the bigger vision a reality.

Making global headlines this week were a number of stories about well-known high street retail businesses that are finding it tough right now. Some are closing stores and restructuring their companies in order to stay afloat and relevant in a changing marketplace. The same goes for a number of leading restaurant chains that once flooded global high streets, but are now rethinking their businesses and their strategies. Africa’s retail scene is going through it’s own challenges, with some economies experiencing really tough times, and others growing fast. For the woman entrepreneur building a niche retail brand on the continent, it has been traditionally tough to break into some of these retail markets. But with the growth of online retail, an exciting new generation of proudly African retail brands is emerging, tapping into a rapidly growing global and pan-African consumer base. Lionesses of Africa will be discussing this exciting topic at the World Retail Congress in Amsterdam in May next year - look out for news on that soon!

How often do you hear the story of a great African company whose success came as the result of finding a creative solution to a problem? Often, those solutions have the potential to change the world. TIME magazine has just compiled its first annual list of Genius Companies, businesses that are inventing the future. Companies were evaluated on their originality, influence, success and ambition to drive real progress in their chosen field. A number of game-changing innovations by leading African women entrepreneurs were on the list, including BRCK, a portable modem providing access to fast internet connectivity in rural areas, co-founded by Juliana Rotich. And Wonderbag, the innovative non-electric slow cooker, founded by Sarah Collins, and changing the economic and social lives of Africa’s women. Africa has many challenges that need to be overcome if it is to fulfill its immense potential. So it’s good to see innovative women entrepreneurs from the continent finding those solutions and being recognized globally for the contributions they are making to the world. 

Some interesting statistics emerging from the renowned coffee growing country of Rwanda, point to the need for Africa’s entrepreneurs to extend the value chain of important commodities on the continent. Coffee exports from Rwanda are valued at approximately $60 million, or 7% of Rwanda's total exports. The industry is becoming increasingly competitive amongst global players for high quality Arabica varieties, and it supports over 400,000 farmers across the country. But where are the proudly Rwandan coffee brands being built as sustainable businesses by entrepreneurs on the continent? Africa boasts some of the world’s finest coffee beans, tea, and cacao, but there are few world-class, home grown brands emerging on the continent that celebrate these fine ingredients. And importantly, that are enjoyed by Africa’s growing consumers. So let’s redress the balance. Let’s support a new generation of entrepreneurs who are passionate about building businesses and brands that truly extend the value chain of these important commodities in the countries in which they are grown. 

A new study published by Gartner reveals some interesting findings about wealth creation by women. Between 2000 and 2015, the global private wealth held by women rose from $34 trillion to $51 trillion. By 2020, that number is expected to further rise to $72 trillion — a five-year increase that will exceed that of the previous 15. Women are also progressing in their share of overall wealth, albeit more gradually. Between 2010 and 2020 the estimated share of global wealth controlled by women is expected to increase from 28% to 32%. Additionally, most of the private wealth changing hands in the coming years will go to women, who will on average outlive men by five years. As the baby boomer generation reaches its later years, the ongoing transfer of wealth to women will only accelerate. Women are also creating high growth businesses and generating assets that are adding to this positive wealth creation story. 

experiencing a major success streak, and wonders if it is ever going to happen to you? Or perhaps you feel you may have left things too late and the best is already behind you, then here’s the good news. According to a fascinating study from Northwestern University in the US which has just been published, it is never too late to hit your peak. That incredible hot streak of success that you crave may still be ahead of you, and age is not an issue. “The traditional way of thinking is that once you pass 45 years old, the chance for a breakthrough is lower,” said Dashun Wang, associate professor of management and organizations. This is simply not the case. Your hot streak “can be with equal probability your very first work, your very last work, or somewhere in the middle,” he adds. So, maybe your best time as a woman entrepreneur is still to come. 

It is rare to find industry sectors that are dominated by women globally, but the multi-trillion-dollar wellness industry is surely one of those. The rapidly growing wellness movement has seen women entrepreneurs as the driving forces, pioneering new approaches to self-care. They have innovated or created specialist fitness clubs, mind-body care businesses, spas, workplace wellness programmes and are growing the lucrative wellness travel industry. This trend reflects an interesting intersection between women’s empowerment and business, reflected in the surge in women-only health and wellness clubs, and co-working spaces where business and wellness combine. More and more wellness and beauty brands are putting storytelling at the heart of their brand building, with the woman founder’s personal story often driving the business. In Africa, an exciting new generation of women wellness entrepreneurs is emerging, tapping into this global trend. They are creating beauty and wellness products that are for women, by women, harnessing the natural ingredients and know-how unique to the continent, but taking them mainstream. Watch out for many of these proudly African, women driven wellness and beauty brands making their mark in the global marketplace.

As any entrepreneur launching a new startup knows, it can be daunting when you look around you and see what appears to be so much competition and so much noise in the marketplace. Yet there is room for everyone, and as the new entrant to the market, it’s important to find your gap and get yourself noticed for all the right reasons. It starts with building a strong product or service, one that responds to market needs. Any successful brand starts with a great product, with a clear purpose and a strong message as to why customers need it. It’s important to remember that a sustainable brand is built upon that product. You build a great product first, that’s the priority. Building a great brand comes afterwards. Remember, if your product doesn’t work and isn’t needed, then it is worthless - and so is your brand.

Many women entrepreneurs are inspired to start a business because they want to solve a problem or challenge in society. Others turn a passion or a hobby into a business. In both of these situations, often they forget that to be sustainable there has to be an intentional focus on making profits, not just making an impact. It’s okay to solve problems, but the business aspect needs to be a priority too. Creating profitable businesses will ensure that it’s possible to solve even more, and bigger problems. That’s why when starting or growing a business, your plan needs to include a clear strategy for making money from your product or service, and a plan for managing the long-term growth of the business. It may be necessary to consider expanding into other related service or product areas, or it may mean going digital with your business. Whatever the case, you may not have the next five to ten years completely mapped out, but you need to plan where those future profits are going to come from. 

Sustainable consumption and production is about promoting resource and energy efficiency, sustainable infrastructure, and providing access to basic services, green and decent jobs and a better quality of life for all. It’s at the heart of the UN Sustainable Development goals. So the concept of a circular economy focused on recycling, reusing and remanufacture, is a direct response to growing concerns about resource scarcity. It raises awareness that business as usual is literally unsustainable. In 2014, the Ellen MacArthur Foundation and the World Economic Forum released a report suggesting that over US$1 trillion a year could be generated for the global economy by 2025, and 100,000 new jobs created within the next five years, if businesses adopted a circular economy approach. The good news is that a new generation of innovative women ecopreneurs in Africa are playing their part. They are successfully linking sustainable business to environmental consciousness and concern for societal well-being. Read our article on some of Africa’s leading women ecopreneurs who are driving the circular economy on the continent.

Sustainable development in Africa is top of mind right now as the UN looks to galvanize the power of partnerships to achieve its key goals. Indeed, SDG Goal 17 specifically aims to Revitalize the Global Partnership for Sustainable Development, particularly in parts of the world such as Africa. There is much talk about the need for partnerships between big governments and big business. But what is often underestimated is the power of entrepreneurs to be driving forces for sustainable development in Africa, working in partnership with these bigger players. Women entrepreneurs in particular are at the heart of communities, they understand the challenges and the development needs better than anyone, and importantly, they take an innovative approach to finding lasting solutions. What these impact driven women entrepreneurs need is to forge partnerships with big business, governments and development agencies built upon a shared vision, and shared goals to make big change happen. It is precisely these types of partnerships that will deliver on sustainable development objectives in Africa for the long-term.

The United Nations’ 2030 Sustainable Development Agenda which looks to shift the world on to a sustainable and resilient path, is once again in focus. And UNESCO, the UN agency actively supporting countries in making this transformative change, has two key priorities - Gender Equality and Africa. UNESCO has recognized that mainstreaming gender equality in all of its programmes will drive real economic and social change, especially on the African continent. What is interesting when looking at the 17 SDGs (Sustainable Development Goals) is that Africa’s women entrepreneurs are the real agents of social transformation in each of the focused goals. They understand the extended impact chain of the businesses they create. According to the World Bank, women entrepreneurs typically put back 90% of what they make into their communities. They educate their children, they create job opportunities, they look after the environment, and they promote the full participation of women and girls in society. If Africa is to fulfill its Sustainable Development goals, it will be women entrepreneurs who are driving real and lasting social and economic transformation.