Number one - Understanding the proposed business locality: Wherever you find yourself in Africa, and you intend to set up a business, it is important that you soak in the environment. You must understand the lifestyle, cultural sensitivity and diversity of people within the neighborhood where your business will be situated. Understanding all these will help you tailor your business approach to alight with the local values and customs of such neighborhood. Your must have a full understanding of the statutory approaching to setting up a business in such environment. What are the government and community policies that governs the territory? Adequate knowledge of all these will give you a soft landing and best approach to positioning your business.     

Number Two - Market Research: Every business has its own target market, but they won’t naturally walk through your door to patronize you. You must carry out a market research to understand the behavioral pattern and purchasing power of your target market. Market research will help you to understand the specific needs and preferences of your target customers so you won’t be shooting your arrow through a donut.  Your need to stay updated on the dynamic and ever changing economic treads and the emerging markets within different regions of where your business is located.

Number Three - Operational Excellence: One of the failures of most businesses-most especially small business—in Africa is operational excellence. Perhaps it is due to the fact that Africa’s definition of small business means it is own and control by an individual. Or it is the ignorant of most African entrepreneurs who believe it is absurd to set up a team in the early stage of the business. Whatever it is, one of the major aspects of the operation that you must focus is your supply chain, which is the processes involved in the production and distribution of your product or service. You must, from the early stage of your business, build a resilient supply chain that can withstand logistical challenges, which is one of the major challenges of businesses in Africa. Take this good advice, diversify your suppliers to mitigate risks association with disruptions.

Number Four - Localized Marketing: Yes, most business advisors will tell you to think global but start locally. When it comes to your marketing, strive to capture your local market. Craft marketing strategies that resonate with local tastes and preferences. If you have to use local languages and local languages and cultural references in your advertising, go ahead and do that. Don’t try to capture the globe in a grasps; focus on dominating a small market and gradually spread your tentacles.

Number Five - Cost-Efficiency: Having an excellent financial management or book keeping is another struggle of most African entrepreneurs. It is of essence that you master how to leverage on the available resources at your disposal effectively and efficiently to achieve your business goals. You need to implement cost-effective measures. But do this without compromising the quality of your product or service. Work hard to seek innovation solutions that can help you reduce overheads and streamline operations excellently. This is one of the keys to successful building and sustaining your business in Africa.  

Number 6 - Technology Integration: It is unfortunate that most small business owners shy away from integrating technology in their businesses. You need to learn to embrace technology to enhance efficiency and reach a wider audience. Leverage on digital platforms for marketing, sales, customer engagement and retention. To be honest, it is difficult for any business to survive in the new age without integrating technology in almost every aspect of the business.