Entrepreneurship 101: Fueling a Modern African Creative Economy

The people of the African Diaspora can be found in any part of the world. With creativity, we have the advantage to use innovation and create better realities for ourselves, society and in turn future generations. In Africa, millennials were said to make up the about 37 percent of the population just last year. African creative economies are rising higher and higher as we speak, rewriting African narratives and carving new opportunities for themselves to thrive in harsh economies. #IssaHustle #IssaLifeStyle #IssaRevolution When I first began doing my fashion merchandising and freelance marketing businesses, I had many questions to be answered through google, networks and experience. I decided I wanted to equip myself with the appropriate tools, habits and strategies that could help advance my entrepreneurship to the next level.

Because I love my creatives of the African Diaspora, I am sharing these tips in hopes that they serve as a guide to successful creative entrpreneurship. I hope you enjoy and can use this as a reference as you continue to climb in your entrepreneurship journey and in turn pass this on to young entrepreneurs like yourself. Happy creating!

Organization

Organization is one of the most important parts of maintaining your business and maximizing your time. Some tips I have learned are to:

  • Be proactive
  • Start early
  • Prepare for your days in advance
  • Make a list of to-do’s and cross out as you go
  • Make a schedule
  • Create a filing system for your documents
  • Figure out your prime/ most productive time and make the most of it
  • Minimize interruptions
  • Organize your workplace
  • Set goals and benefits
  • Use a Digital calendar/planner
  • Offer yourself rewards
  • Choose organization tools that are shiny and cute
  • Review goals frequently
  • Batch/collect similar tasks and do them all at once ex- emailing, calls, etc

Investing

There’s a saying that goes ‘it takes money to make money’. And boy, they aint neva lied! Here are some tips on making smart investments:

  • Conquer greed
  • Understand the uncertainty
  • Accept your losses, move on and use them to future advantage
  • Look for safe investments
  • Write down the potential benefits and risks and weigh both sides
  • Be confident
  • Think for yourself

Strategic Planning

Strategy helps you set priorities, make investment decisions and lay out growth plans. Remember, strategic planning is a process. Here are some tips:

  • Insist on experiments to test the assumption of outcome you make
  • Ask provocative questions about your end goal like -What 2 things must go right for this strategy to work
  • Keep it simple- ex- Who are we? Where are we now? Where do we want to go? How will we know when we have arrived? How do we plan to get there?
  • Involve all stakeholders
  • Create measurable results
  • Be accountable
  • Track due dates
  • Align actions with intention
  • Communicate ideas and steps thoroughly

Financial Literacy

Here are some ways to develop financial literacy as an entrepreneur:

  • Identify want vs need
  • Use a savings jar
  • Identify how much capital you need to start your business and create a strategy to acquire the funds
  • Create money saving habits
  • Create budgets and establish financial goals
  • Use invoices for your customers, organize them and keep track of profits and expenses

Major Key Alert!

Be brave, take risks and know your worth.

What tips do you have for successful entrepreneurs? Please comment below.

Thanks for reading, see you soon!

7 thoughts on “Entrepreneurship 101: Fueling a Modern African Creative Economy

  1. Pingback: Entrepreneurship 101: Fueling a Modern African Creative Economy — FINDING BEAUTY BETWEEN WORLDS | msamba

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s