Are you an entrepreneur who travels frequently and spends little to no time in the country where your company is located but owns a business in Africa and lives in a diaspora country? If so, then you should read this. There are some people who have tales of running their businesses unsuccessfully while living abroad, but there are several elements that, if implemented, may make your business successful no matter where you are on the globe.
I’ve compiled a list of 9 suggestions for becoming active in Africa’s start-up ecosystem, with a focus on where to seek support and what you should be careful of.
- Do I have to go back now?
- Do I require cash?
- Starting your career at a young age
- Getting started late in your professional life
- Governmental institutions in the diaspora
- Community Organizations in the Diaspora
- Developing your value chain could be necessary.
- Failures should not discourage you.
- Remember that there is no handbook.
Do I have to go back now?
Prior to relocating or visiting Africa, be aware that you have a lot of options. You can spread the gospel no matter where you are. You may tell the truth, even when the media fabricates awful things about the continent. You can identify the negative as well as the positive and outstanding. I made it a point to have an African panel at every conference throughout my MBA school so that participants might learn about the experiences of Africans. As I previously indicated, I was the only African employee at my company, and anytime I had the chance, I would introduce the CEO to another African. The CEOs of the biggest African corporations began contacting me when they knew I could put them in touch with the CEO of NVIDIA as a result of the mentality I had. I now have a friendship with the CEO of NVIDIA. If I hadn’t done it, the corporation would have hired me at random. I took the position that you people don’t know about the continent I have. You may access it through me. The same is possible for everyone in the diaspora.
Do I require cash?
Don’t believe the lie that you must be a billionaire to make a difference in Africa. We can introduce you to the appropriate individuals if you possess a concept, and you may proceed from there. It’s still a terrific time, even if you’re in college right now. Just establish a connection with the continent. There are talented individuals in this area that would gladly accept you and your concept and work with you to make it a reality.
Starting your career at a young age
The conventional wisdom holds that you should spend your funds in America before returning to Africa to transform it, but what does it say about Africa as a sovereign continent? It conveys the message that using African people, businesses, or economies won’t work. Because of the idea that success must first be obtained abroad before being brought home, Africa will remain subpar compared to the rest of the world. Recognize that you can succeed while interacting with Africa along the way since the skills, people, and businesses are there. Therefore, my advice to all Africans, both local and international, is that if we band together, we can flourish independently.
Getting started late in your professional life
Being successful in your career is the primary responsibility of the diaspora. For me, success meant increasing my money and moving up in my career. When your glass is filled, you’re better equipped to aid someone else, according to the analogy, I think. A cup that is only half full cannot be helped. When you achieve success, use your abilities, knowledge, and experience to help others achieve their goals. When you’re truly in a position to help, you’ll have an even greater influence because the area from which you originally from needs people like you. It’s okay if you aren’t there yet. Do your best. Perhaps this is a better moment for you to coach than to develop. Until you’re in the situation that you wish to be in, you can take a variety of actions. If you want to keep current, consider mentoring, volunteering for a cause, or going to events and conferences. In the long term, knowing about the situation and becoming involved will enable you to have more influence.
Governmental institutions in the diaspora
The State Department offers US businesses that seek to expand globally a wealth of resources. We have embassies in every nation with which we have diplomatic relations, and they frequently provide programs for US businesses. There is a program that the US runs. is a for-profit service known as the Bonus Rewards Program? They provide a service for a nominal cost that effectively serves as your connection to organizations in a certain nation that you wish to engage with.
Community Organizations in the Diaspora
I was lucky in that there is a sizable Ghanaian population in Houston, and I have always participated in social and professional activities there. I understand that not everyone will find themselves in the same situation, but I’d recommend seizing such possibilities as much as possible.
Developing your value chain could be necessary.
It’s important to understand your ecosystem’s value chain since, even though the idea is sound, there may be obstacles that require you to add new components. For example, we had to spend time and money figuring out how to use Parallel Score effectively. It could have been simpler to employ individuals in other, more developed nations like the US. Yes, it paid out in the end, but it cost us time and money. Additionally, a lot of firms are experiencing profitable troubles, which means that the issue is a sizable market potential that can be found in countries like Ghana, Nigeria, etc. However, many of these enterprises could need to create a significant amount of infrastructure in order to seize the market potential. Therefore, as an entrepreneur, you must determine whether you are at ease with it.
Failures should not discourage you.
We wouldn’t be where we are now if I had given up after the early difficulties we encountered. Be ready to cope with inefficiency or individuals who aren’t receptive to your ideas, since weathering the storm requires a bit of a thick skull. You must have faith in yourself. Trust in the worth of what you’re producing. The key, in my opinion, is to have a strong will and declare that you are committed to turning your aspirations into reality.
Remember that there is no handbook.
A guidebook for conducting business in Africa does not exist. However, the community you create and invest in will increase your chances of success. Being there regularly for the past six years has taught me the value of community. I have a lot of friends who have established profitable enterprises in Africa, ranging from eateries to IT firms. And it’s energizing to simply sit down with kids and talk about difficulties and concerns in the framework of optimism rather than in the framework of problems. Additionally, since you will ultimately run out of resources, patience, and ideas, you also need vision and culture. You can persist if your vision and culture are solid.