Well-known author and entrepreneur, Sallie Krawcheck (read her book Own It: The Power of Women at Work) believes that the qualities women inherently bring to the world of business are exactly what make them great entrepreneurs in the world. From managing risk and complexity to seeing things holistically and focusing on the long term, Krawcheck says women are in a better place than ever to harness these abilities in the entrepreneurial world. These insights are supported in the latest Hiscox DNA of an Entrepreneur Report which found that the top three attributes associated with being a woman entrepreneur are the abilities to promote their businesses, to delegate, and to be patient - a winning combination. The study also found that women have an inherent sense of independence: 48 percent of women are the sole employee of their businesses, while only 37 percent of men can say the same. Women are also playing to their strengths through the types of business sectors they choose to enter. So if you want to get ahead in business, it makes sense to know and leverage your unique strengths - they could be your best assets.

Read any global socio-economic development report and it will point to women playing a significant role in regional economic integration. But one of the most interesting trends beginning to emerge in Africa is the rise of women micro-multinationals. The digital world has made it possible for women entrepreneurs with small businesses and brands to expand not just in their immediate country markets, but also regionally and increasingly globally. Online retail has opened up opportunities to connect with wider markets, to build customer bases and distributor networks, and to export the goods and services produced to those expanded markets. This trend is good news for a new generation of women micro-multinational entrepreneurs who are digitally connected to a global marketplace, but who manufacture and produce their goods and services locally. This means that local and national economies in Africa benefit from this approach, as it strengthens global trade and positively impacts communities closer to home. This trend is reflected in the growing number of women entrepreneurs in the Lionesses of Africa community who are successful examples of micro-multinationals and who regularly tap into the Lioness Lean In events in different African countries and Startup Night! Africa events in European cities to connect to new global markets.

Entrepreneurs are very often seen as leaders, whether they are setting new business or design trends, or creating innovative new products that shape future marketplaces, or disrupting existing ways of doing things. They epitomize the very notion of leaders from a business perspective. But it’s also interesting to see just how many women entrepreneurs are also leaders in their communities, using their businesses and their success as a means to help those communities to grow and thrive too. They say that the value chain created by women entrepreneurs is so much longer because they are hardwired to spread the benefit of their business success to others. They look at ways of tackling socio economic challenges in their local communities, they are interested in educating the next generation of children, and they are passionate about finding solutions to environmental challenges affecting those communities. These women entrepreneurs are real leaders, passionate about using business to make a lasting impact, and showing others how it is done. We can all learn from their example and be the change that is needed in the world through the businesses and products we create, and the experience and knowledge we share with others.

Are you in charge of your daily schedule, or is it in charge of you? If you are one of those fortunate people who is naturally organized around your schedule and you make it work for you, then that’s great. However, there are many entrepreneurs out there who struggle daily with their schedule. So here are five ways to help you get to grips with it, and fast! Firstly, shorten your daily to-do list - if it’s too long, chances are things will never get done and that just adds to the daily stress. Secondly identify your priorities for the day and make sure you tackle those first. Thirdly, if meetings take up the majority of your day, something’s probably wrong. Determine which people need a face to face meeting, and which ones can be dealt with online, ultimately keeping all meetings short and to the point. Fourthly, take control of your email, use an email scheduling tool, and set aside designated times to deal with your messages. Finally use a calendar application, making your scheduling much more efficient. This should help you to reclaim your time and maximize your productivity.

Crowdsourcing has become the resourceful entrepreneur’s path to finding the right support and solutions when most needed, by tapping into the power of community and networks. So it should come as no surprise that women entrepreneurs are naturally talented at harnessing the power of crowdsourcing for their businesses. Think about it - as women we are no strangers to asking other women in our networks for help and advice on how to get something done, or where to find a particular product, or how and where to get the best bargain. As a woman entrepreneur building a business with often stretched financial resources, the ability to come up with creative strategies, access other people’s knowledge, connections, and resources is crucial. Therefore, tapping into our natural abilities as crowdsourcers and harnessing the power of collective knowledge and networks can be a real asset.

For many women entrepreneurs, their business building journeys do not start with a ‘Eureka’ or ‘Lightbulb’ moment, instead they are the result of a measured and well thought out lifestyle decision to start companies to better balance their work and family lives. By choosing to step away from the world of corporate and instead enter the world of entrepreneurship, women have the opportunity to achieve economic independence whilst at the same time satisfying their combined needs to build family and business simultaneously. And it’s not always just about the money - although that’s an important factor. Many women are choosing to run their own businesses from home to better control work and personal lifestyle, and harnessing the power of the digital economy to help them to realize their goals. As creating wealth for the sake of it is often not their primary focus, many women owned businesses remain smaller by choice - and it works for them both on a personal level and for their families.

Women entrepreneurs often spend too much time worrying about the competition, and not enough time focusing on what makes their business more attractive to customers in the marketplace. It’s a common trait, but one that needs to be avoided. Competition is a reality, but how you approach it is what sets you apart in business. Celebrate what makes you and your business unique, and remember that no other company or entrepreneur has your story, so leverage that fact with your customers. Acknowledge that we live and operate in a new economy, one that celebrates sharing and collaboration, so perhaps instead of seeing other entrepreneurs as competition, explore whether there is the opportunity to share expertise and collaborate to win new business.  And importantly, stop comparing your efforts and results with those of other entrepreneurs. Everyone has a different business building journey they are on, so learn from others, celebrate and be inspired by other entrepreneurs’ success, and focus on your own journey. It’s a mind-shift that is needed, but one that is worth the effort.

A study published by McKinsey and the LeanIn Organisation found that typically women have smaller networks than their male counterparts, and this could be impacting on their ability to tap into new business opportunities more regularly. The study found that there were two reasons for this apparent imbalance. Firstly, women are more reticent about building extensive networks because they have concerns about achieving work-life balance, and see belonging to and building too many networks as negatively impacting on their abilities to achieve this balance. Secondly, women see networking in the way that their male counterparts do it as being transactional and not genuine, with everyone looking to build a relationship in order to get the next deal, whereas women are interested in building genuine relationships with like-minded people. The downside is that because women don’t view networking in the transactional way that men do, they don’t make as many connections. Getting the balance right between these two approaches is perhaps the key to making networking count.

The world’s environmental challenges are front and centre of global political, economic and social discussions and debates right now, with daily calls for innovative and sustainable solutions. And there is no doubt that major innovative thinking is needed if solutions to some of the biggest environmental challenges facing the world are to be found, such as how to combat climate change, how to lower global greenhouse gas emissions, how to deal with waste in an effective and environmentally friendly way, and how to preserve biodiversity in the environment. And it’s everyone’s problem and responsibility, to be part of the solution, not the continuing problem. Africa is undoubtedly feeling the impact of many of these environmental challenges, and that’s why a new generation of innovative women eco-preneurs is emerging from the continent with practical solutions. They are building sustainable recycling businesses to deal with waste management challenges in some of the continent’s biggest cities; they are building companies that create world-class products using recycled plastic as their base materials; and they are tackling invasive weed infested waterways by using them as a source of new materials for beautiful products that the world wants. This is the age of Africa’s women eco-preneurs who are making a real difference to the environment through their high impact sustainable business models.

The digital world has made it possible for women entrepreneurs with small businesses and brands to expand not just in their immediate country markets, but also regionally and increasingly globally.  Online retail has opened up opportunities to connect with wider markets, to build customer bases and distributor networks, and to export the goods and services produced to those expanded markets. This trend is good news for a new generation of women micro-multinational entrepreneurs who are digitally connected to a global marketplace, but who manufacture and produce their goods and services locally. This means that local and national economies in Africa benefit from this approach, as it strengthens global trade and positively impacts communities closer to home. This trend is reflected in the growing number of women entrepreneurs in the Lionesses of Africa community who are successful examples of micro-multinationals and who regularly tap into the Lioness Lean In events in different African countries and Startup Night! Africa events in European cities to connect to new global markets.

In today’s business world you can have the best products and services, but if your brand ethos is not built on a foundation of a caring company, one that does business but also does good, then your business may not be sustainable. Many research studies have found that today’s consumers are much more likely to make conscious purchasing decisions based on their connection to brands that are caring and committed to good causes. This is certainly the case for the increasingly influential millennial and Gen Z consumers, who take a very different approach to their purchasing decisions. You only have to look at the huge success of purpose-driven brands such as Toms, Warby Parker and Patagonia to see that their back-stories resonate with and influence these consumers directly. Social responsibility makes an emotional connection with customers and today it’s not a nice to have, but a must-have in business.  

Pick up any business self-help book and amidst the wealth of information and advice about what it takes to be a successful entrepreneur you will see a number of key building blocks. Obviously, it all starts with a great idea, product or service that fills a gap or meets a need, but that just gets you out of the starting blocks. Running a successful, sustainable business takes much more than that. Here are five startup building blocks to put your business on the right track. Firstly, put the right people in place and build your team, based on complementary and needed skills that can all contribute to the bigger goal. Secondly, a laser-like focus is key, and every member of the team needs to share that focus and know their role. Thirdly, any successful business needs great customers, so invest in creating a strong customer base that you can grow over time. Fourthly, without sales a company can’t survive, so ensure the sales strategy is strong and the sales team is focused and incentivized. Finally, as the old saying goes, cash flow is king, so make sure that every dollar counts and is made to work for the business.

Pick up any magazine or newspaper, or flick through the reports from some of the leading entrepreneurial conferences this year, and the rise of impact investing continues to be a key talking point. A number of interesting industry shifts seem to be indicating a new direction for impact investing in the year ahead. One of those shifts seems to be in the area of wealth transfer, where it’s estimated that in the US alone, around $40 trillion in wealth will be transferred over the next 30 years to women and millennials. Both of these groups have expressed strong interest in investing aligned with their values, with millennials demonstrating they are deliberate about the social impact of their retirement funds.This could signify an interesting potential opportunity for women owned businesses in Africa who are looking to find socially responsible global impact investors to support the continuing growth and development of their businesses. Increasingly, investors are also focused on ensuring that they are “actually doing good” and that their investments are having a positive social or environmental impact. This industry shift could prove to be a real ‘win-win’ for both women owned growth businesses and investors alike.

An overlooked benefit of women’s entrepreneurship to their economies is their natural strength as skills coaches and job trainers. Women are not only creating much needed new jobs through their businesses, but are also heavily invested in training up their staff. It is often said that the best kind of training is that received on the job, and it is here that women entrepreneurs are making an incredible contribution to training and skills development in their communities. It stands to reason that having created a job the entrepreneur has every reason to ensure the new hire is able to do that job productively and to the very best of their abilities. So whether it is a new sales person, a new machinist, or a new admin assistant, women entrepreneurs are not only creating the new job, but are also training up the new hire. And, because these women know people are their most valuable asset, they are more committed to training people than just about anyone else. In a nutshell, women entrepreneurs across Africa are not only job creators, they’re also great job trainers. It’s time policy makers start to recognize this fact and start to better support women entrepreneurs.

So here’s an interesting fact! Did you know that the artisan sector is the second largest employer in the developing world, behind agriculture, worth around $32 billion every year? Millions of people, particularly women, in developing countries around the globe are key drivers of the artisan economy - and that’s certainly the case on the African continent. They are producing handcrafted goods often utilizing traditional skills of all types to build businesses that can sustain themselves, their families and their communities. The artisan sector is significant and growing - international trade in artisan goods more than doubled between 2002 and 2012. Yet ironically, these very same artisan businesses are seldom recognized as drivers of real economic growth. But it’s important to remember that countries in the developing world have a competitive advantage in the artisan sector because of their rich cultural traditions, diverse artisanal skills, and unique raw materials. And that is certainly the case on the African continent. So it’s perhaps time to start acknowledging the truly important role played by women artisan entrepreneurs in driving Africa’s future economic growth, and at the same time, ensuring that traditional craftsmanship skills are both preserved and taken to the next level.

The world of PR is changing, and with the rapidly evolving, 24/7 social media driven world we live in, it means that the notion of PR as we know it is changing in business. Any mystique that existed around this industry has gone, and for startup entrepreneurs there is a realization that there is no one better at selling their businesses and getting their brand messages out there than themselves. So if you are a startup entrepreneur and looking to DIY your PR, here are a few helpful tips to remember. Firstly, always accept that coffee invitation, you never know where it will lead. Secondly, get to know your customers, what they need and want, their buying patterns and habits, and tap into those needs with your messaging. Thirdly, when pitching your stories to news media, do your research and ensure your stories will resonate with their specific audiences. Fourthly, harness the power of social media, it could be your best way of quickly reaching audiences and getting people talking. Finally, first impressions count - make sure your stories and messages are well written, visually well presented, and impactful. And remember, good PR takes time but it’s worth the effort.

Many successful entrepreneurs will tell you that their businesses have grown and been sustainable over the years because they have taken conscious decisions to live frugally in the startup years and reinvest back into the businesses. It’s a wise strategy to adopt, particularly because so often one of the biggest challenges facing fledgling businesses is managing cashflows at critical times, and ensuring there is always a source of critical capital available when the business needs it most. But the temptation is always there in any startup business to take cash out in the moment, instead of reinvesting it for the longer term. So take some advice on this subject from one of the most successful women entrepreneurs on the African continent, Divine Ndhlukula, founder of Securico Security Services in Zimbabwe, one of the country’s most successful businesses. She says, “Don't be tempted to take cash out of your early-stage startup venture....when a bit of cash starts rolling in, have the discipline to know that it is not your money yet.  It is still the business’s money because you want the business to grow. So for you to sustain it and enjoy phenomenal growth, that anyone going into business wants, you need to reinvest all the little bits of cash that you get then you can be assured that your business will grow.” Great words of advice!

There is a famous quote by Kevin Systrom, founder of Instagram, that goes: “Every startup should address a real and demonstrated need in the world – if you build a solution to a problem lots of people have, it’s so easy to sell your product to the world.” Wise and very practical words for an uber-successful entrepreneur who knows what it takes to build a great, sustainable business. According to the market research firm, CB Insights, 47% of all startups fail because there is no market need for what they are making. So the question has to be, “What problem or need are you trying to solve with your business? The answer will determine if your business idea is valid, needed and will have a better chance of succeeding. But to build a sustainable business, you’ll need to ensure other people care about it as much as you do. So before you go off and spend your time building anything, make sure you have identified a problem worth solving or a need that requires a solution. Get that right and you might just have a business.

As entrepreneurs, we are all driven by our vision to create a successful life and business for ourselves, but with success comes other challenges. The question is, are you adequately prepared to deal with the way life can change once success arrives? For example, do you have a plan to manage the continual growth of your business, particularly if that growth is rapid, including having a strategy to manage your people? Are you personally prepared to deal with the added responsibilities of managing a bigger business? Are you emotionally prepared to deal with all the stresses and strains that come as part and parcel of building a high growth business? Life as a successful business builder undoubtedly becomes more complicated - the trick is knowing how to prepare for that success, and put in place the building blocks for growth at an early stage, so things don’t catch you out later.

If you are in business, and you are out there selling your brand, your products and your services to prospective customers, day in and day out, chances are you will hear the word ‘no’ more often than you hear ‘yes’. It’s all par for the course in the life of an entrepreneur. But you are not alone. Did you know that Huffington Post founder, Ariana Huffington, was rejected by 36 different publishers at the start of her entrepreneurial journey? If that wasn’t enough, she ran for public office in the US against Arnold Schwarzenegger for the seat of Governor of the State of California, winning only 0.55% of the votes at the time - that’s also a fairly big public rejection to get over. Yet she was inspired by the words of her mother who said: “Failure is not the opposite of success, but a stepping stone to success.” Ariana went on to famously to create one of the world’s most successful blogging platforms, write 13 books, and secure her position as one of the world’s most influential women. Now, that’s how to deal with rejection!