What is necessary to build a multi-million business in Africa?

Build Business in Africa

Several youths carry around the dream of becoming entrepreneurs. Funding and sometimes time can limit potential entrepreneurs in Africa but doesn’t make it impossible to start a business and build it to a multi-million dollar level.

There is no right path to building a multi-million business, however, exploiting the current environment and finding access to the latest technology sets a potential entrepreneur on that right path.

Muilti-million Business Africa
Young Africans are holding business conferences annually to share their ideas and support for the continent

How can you grow a multi-million business in Africa?

  • Technology is the best business partners and automation is a full workforce. There is a wide range of technological tools from software to hardware that allows small business owners to automate their business.
  • Several platforms, such as Upwork, offer thousands of freelancers all around the world for simple tasks that might take a lot of time.
  • Invest in social media marketing. For several business segments, it can give a huge growth in revenues.
  • Know who is worth taking advice from. Not all piece of advice is worth your consideration. You alone understand your business, the highs and low.
  • Attend business conferences around the continent to understand the needs of the people.
  • Connecting with other professionals with overlapping interests will be highly beneficial to you. 
  • Keep track of all the data you acquire from the very beginning. It will help you measure certain parameters in the future.
  • Your customers are the inadvertent mentors you will always need. You don’t have to pay them for the things you learn from them by receiving feedbacks and criticism.
  • Focus on sustainable growth. Keep your fixed payroll as small as possible and work mostly with freelancers in the start-up phase.

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Christina Ngene

Content creator focusing on finance and business with five years of experience and a foundation in forex analysis.

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