Here is something of great relevance to your African Business. To explain it, let us take this example of the World Economic Forum on Africa, which will start tomorrow.
The World Economic Forum on Africa will take place for the first time in Abuja, Nigeria, under the theme Forging Inclusive Growth, Creating Jobs. More than 900 leaders from business, government, civil society and academia will participate in the meeting on 7-9 May.
“What concrete relevance does this high-profile gathering have for my business?” You may ask.
Sure it all falls under the context of discussing Africa’s emerging markets, right? But this is not what I mean.
Here is why this example of The World Economic Forum on Africa does matter to your start up and your African business at any stage.
Being aware of the wider national policy context and the overall development agenda of Africa’s emerging nations is in my view key to making the right business decisions on the continent. It can without a doubt accelerate your success rate and also position you not merely as an African entrepreneur, but as a business leader. And when this happens your success, influence, and revenues will grow even more.
Africa was the global face of poverty, conflict, and bad governance for many decades and this image is now slowly changing in front of our eyes. But because of this, issues around sustainable development, poverty reduction, and food security will be much stronger entwined with economic agendas than anywhere else in the world.
This is a good thing.
Now, I want to make you aware that you, too, can be part of this. You will increase your visibility, impact, and output when you consciously decide that your business model integrates development objectives that are of clear value for Africa.
Don’t just think in the back of your head that you have something that contributes to Africa, but bring it consciously to the forefront and make it visible to outsiders. This is the strategy that will work for you in Africa! At multiple fronts.
Here is exactly what I mean by ‘integrate development objectives into your business model’:
Don’t just sell cassava in bags to supermarkets in Accra counting your net profit.
Instead, communicate that your business contributes to the strengthening of the agricultural sector in Ghana by investing in local cassava production. You use additional value chains (a key word for policy makers!) by creating a trusted local brand selling it to various local retail outlets or even exporting your brand to neighboring countries. You business is actively contributing to national food security (access to food) and you are creating jobs among rural communities. How powerful!
Of course your clients will be rightfully confused if the above is your sales pitch, but being successful in Africa means that you need to create that awareness for yourself in a first step and then translate that into a mission around your business that aligns with the situation on the ground. This will increase your potential from merely ‘doing business’ to becoming an entrepreneur, a visionary, a business leader.
It does hardly matter what you produce or sell. As long as your signature products or services meet local needs in Africa you will be able to find an African story, a vision, in which to strategically embed your business operations.
If you are able to clearly demonstrate and communicate how your business contributes to important national goals, e.g. job creation, or how it meets unique local challenges, you will find that decision makers and various stakeholders want to support you and cooperate with you, others will seek your advice.
You are then visibly on your path to success as an African entrepreneur and business leader!
Indeed, this is precisely why many of the young African entrepreneurs who have started their business just recently are featured all over the media and are participating actively on high-profile platforms such as the World Economic Forum on Africa.
Therefore, make sure you know what the current debates are about. And you are the one who has to decide that you will become part of that greater vision. It may sound difficult, but it is really that simple.
Follow the live stream of the World Economic Forum on Africa sessions in Abuja for May 8 – May 9, 2014 on http://new.livestream.com/wef
Be part of Africa’s renaissance.
Build a grand lifestyle for yourself.
And make a positive impact on the lives of others. Today.
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Altruism masquerading as profit. That is a very good way to sell it.