Yoadan Tilahun: Nothing gives more credibility than the quality of your work
So many of us dream of turning our side hustles into main ones. Few of us do but Yoadan Tilahun is one of the few who’s managed to succeed. Yoadan founded Flawless Events while working full time in corporate trade in the Washington, DC area. Flawless designs and produces corporate events, brand activations, international conferences and trade fairs on behalf of its clients in a number of industries. These include Coca Cola, Google, World Economic Forum, Africa Leadership Network among many others. Yoadan moved Flawless to her home city, Addis Ababa in 2008, where it has been flourishing since. Heran Abate, SLA contributor, spoke to Yoadan whose career decisions and approach to life demonstrate a calm boldness that exemplifies the #MotherlandMogul. Having worked in corporate trade, why did you decide to start an event management company? It started as a side gig, actually. I was looking for an additional source of income to supplement my day job. Around that same time, the events I was attending were quite unorganized —so I leveraged my existing network and tried my hand at it. But from the beginning, there was no two ways about it. The very first event sparked this exhilaration in me —from brainstorming initial designs to realizing the finest details, I was hooked! To this day, there’s nothing quite like the adrenaline rush of being in perfect sync with my team. Especially when months of planning and toil pay off and an event falls seamlessly into place before our eyes. It sounds like it was going well in the US, what prompted the re-location of the business to Addis Ababa, Ethiopia? Ethiopia has long been a center for African intergovernmental affairs, being the seat of the African Union and the Economic Council for Africa. So, there were already many international conferences going on. Particularly around the Ethiopian millennium (September 2008 —we follow a different calendar), there were a number of grand initiatives to broadly expand Addis Ababa’s infrastructure and create larger FDI (foreign direct investment) opportunities. This meant an increase in modern facilities, roads and an influx of investors who were looking to tap into networks and opportunities. That was the market gap Flawless came to Ethiopia to fill. Would you say this re-location was the turning point for the company? Yes and no. While it was good timing, the hard work ahead was in building the momentum. We had to adapt to new regulatory frameworks, re-adjust to an entirely different set of clients. And also build relationships with vendors from the ground up. Like any start-up, the initial stages were crucial. You have to be tireless and tactful in pursuing new clients, being a step ahead of their needs. Until you build a reputation for over-delivering in (seemingly) effortless fashion. That sounds like there’s more good advice where that came from for our readers, could you elaborate? Certainly. To put it simply, nothing gives you more credibility than the quality of your work itself. No amount of advertising can make up for a poorly managed event. It was through happy clients’ referrals that we were able to get some of our highest profile and exciting events. So what makes for a flawless event? What else helped you establish a compelling brand and reputation? Clear process and production, the two are different but both critical. The first requires top-down strategy to tackle the separate pieces of the whole. It also entails investing time in creative output and designs to personalize the event then tireless follow-up. As the event nears, we burn the midnight oil, making sure there are no loose ends affecting back up plans and that we are in constant readiness for crisis —this is inevitable. Our clients rely on us to trouble-shoot and problem-solve on the spot —a late visa, equipment held up at customs etc. Are the majority of your clients international? What industries do you serve? About two-thirds of our clients are international. We mostly do corporate events, international conferences in trade and investment, development as well. We have held events that companies used as entry platforms into the Ethiopian market —Google’s first event for example. We’ve set up high-level meetings for finance entities who don’t have contacts in the country. Most recently, we organized an event in which Ethiopian Airlines celebrated its newest plane acquisition by setting a Guinness World Record for the largest human formation of an airplane. That was fun! How do you nab these high-profile events? We are tireless in building and sustaining relationships both locally and internationally. We are the only private-sector members of the International Congress & Convention Association. We are close partners with professional networks in Africa including African Leadership Network (we’ve hosted their event in Kigali and Addis) as well as Extensia —a continental group of high-level professionals in ICT. On the ground, we have excellent working relationships with hotels, government offices as well as previous clients. This gives us a lot of leverage to flexibly offer our clients a whole buffet of options. Your increasing influence sounds like a direct result from the events you have previously organized. Yes. Our influence is built on opportunities born out of our previous work and our growing network, clients calling us back to take on new events or referring us to contacts in new industries. You were very recently selected among 30 women entrepreneurs to take part in the Graça Machel Fund’s Woman Advancing Africa. What was the goal of this forum? What are the implications for Flawless? I’m honored to have been selected. Graça Machel is a Mozambican humanitarian and also the widow of Nelson Mandela. This forum is a platform for African women entrepreneurs to leverage their capacity and networks to influence the economic trajectory of the continent. It’s because of the integrity of the work that our client’s have attested to that we are invited to take part in larger conversations about entrepreneurship, economic growth. In Ethiopia as well, we are now well-positioned to take initiative in expanding the MICE (Meetings,
Dealing with small minds around you
We all have small minds around us. I mean let’s face it, not everybody can be an out-of-the-box thinker. Now, picture this. You’re seated, excitedly sharing your dreams with a friend or a family member and the next thing you hear is, “Why?” Confused you ask, “Why what?” And they launch into an almost rehearsed tearing down of your dreams. Oh boy! You get questions like; “Why do you need to go to a fashion school, why don’t you just do what every other person is doing ?” “Everybody is doing it, so why should your own be different or better.” The really mean ones will go all out and tell you, “It will not work.” “Better just keep it small and forget about all that big dream.” Then they will call you names like, “I too know” or “over sabi.” If you’re someone really nice, you’ll probably spend time trying to explain to people who cannot see beyond the small scale. These people can’t see why your dream is not only feasible but a sure thing. The ones that sadden me the most are those who hide their disbelief small minds and even jealousy behind religious excuses. I’ve heard them all, “Money is evil, your plans are not ‘godly’” “Christians cannot go into fashion, or cosmetics or modelling.” As entrepreneurs and ladies, we sometimes have to battle negative feedback from those around us. Those who project their fear of taking the risks on us. Don’t get me wrong, not all of them mean harm. For some, it’s just they way they are, the way they have always thought. They can’t see outside the box. Evidently, that is not you, you see beyond that. You have probably gone through the SLA website and have seen what young African women are doing and you get ‘gingered’. Your dreams are forming, you’re redefining your plans, you expand your horizons, you go back to the board and re-evaluate. Oh, the excitement. You want to share the good news! But it’s straight back to the earth when somebody hits you with the dead weight of their own reality. You are shaken, you take a critical look at the economy and, uh oh, doubts are creeping in. Listen you don’t need all that. What you need to do is… Change your sounding boards Don’t worry, they will come around later. For now, at the early, fragile state of your dreams, you need a support team of like-minded peers, people who can see from your point of view and push you along. Know that that you’re not the only one Nothing is new under the sun. Everyday, someone gets a new idea, (well not entirely new but you get the gist). And each day, someone gives up on their dreams. Probably because somebody, anybody around them just couldn’t believe in the dream to be supportive enough. Don’t be that one who gives up at the end of the day. Don’t explain your self Popular Nigerian artiste, Olamide sang, “who you epp?”. I think that’s self-explanatory. Let the dissuasion push you There are several versions of this statement but grow with the adversity, anyway. Learn to use the attacks or negative words to grow. Remember the story of the donkey? Yeah. Be wise and picky The only consideration I take into account is from the Holy Spirit. Others, even my mum’s, are subject to scrutiny and probable discard. As much as I love my family and friends, we’re not all on the same wavelength. Realize that it will be hard And don’t let it discourage you or make you believe your small-minded crew. Initially, it’ll be hard and for some, harder than others. On some days, there may be virtually no results and you may run at a loss. But your first victory is always sweet. Be convinced They are your dreams, yeah? Good. Then be convinced about them. It will take all the conviction you have to stay on track and not veer off when those around you are taking apart your well-laid plans with their words. You will second-guess yourself, you will be tempted to concur. You might just as well throw up your hands and give up. Nah, that’s not an option. Be centered Focus. Centered. Same thing. Keep your eyes on the goal. Don’t reduce your goal down to your power. Instead, match up your goal with your faith. Think up. The best athletes know not to look at the other athletes when running. But to keep their eyes on the finish line. It’s all for the love Remember, it may all be for the love. Those that care about you, don’t want you making mistakes. Still, you should filter. While I am tempted to say zone out, I’ve come to realise that sometimes listening to the not-so-toxic criticisms can inspire you to tweak your plans. It can also open your eyes to loopholes. Above all, start on the dream and keep going forward. Nothing ventured, nothing gained.
Help! I don’t have a mentor
If you’ve read articles and stories of successful entrepreneurs, the word ‘mentor’ must have stood out. Even the established entrepreneurs still have mentors. And you wonder, what more do they still need to learn? Successful entrepreneurs know the benefits of having a mentor and one of those benefits is the opportunities for learning. So what happens if you don’t have a mentor? Relax, it’s not the end of the world. However, here are a few things you should do: Read books What do you need a mentor for? Do you need a guide or someone to share their business journey with you? Do you need to learn from their mistakes? Do you want to learn how to manage time, make a sales pitch or form partnerships? What better way to learn all that than reading books written by successful entrepreneurs? Reading is the way, ladies! It can’t be that hard. Try peer-to-peer mentorship When founders talk about mentors, they refer to business owners who have had about fifteen years or so of business experience. Unfortunately, very few of these business owners have time to dedicate to mentoring startups. Now, you could consider being mentored by a founder within your age group. The good thing about this is that being in the same business environment, you can relate with this mentor. He or she can prove the best person to bounce off ideas with as they’re probably also among your target clients. Quit with the attitude One thing that can put your mentors off is the I-know-it-all attitude. As an entrepreneur, be prepared to be criticized, shaken and moulded. Keep in touch with your mentor(s) and update them on your progress. You would need to be that proactive. Leave the sour attitude at the door and be ready to be guided. Unfortunately, most entrepreneurs give up along the way, and complain about their mentor not making time for them and criticizing them too much. Well, guess what, it’s all part of the learning process. In conclusion, to be mentored, you’d need an open mind and a teachable attitude.
4 helpful tips from Angela Ochello in ‘The Governor’
There’s just something incredibly beautiful about undertakings that require us to literally break our own glass ceiling. So many women are told to forget about venturing into active politics. And the appeal of this sector, especially in Africa has been generally zilch. At least this can be spiced up in our imaginations. EbonyLife TV’s series The Governor follows the ups and downs of Angela Ochello the Governor of Savannah state. We don’t know about you but for us, The Governor is particularly inspiring. We’ve learned a lot about decking out our own spaces, whether in politics, business, career or whatever it is we do. Here’s what else we’re learning from The Governor. Dress the part The 42-year-old Governor has a signature style that’s all her own, one that features a pixie haircut, classic and figure-flattering dresses and yes, dark lipstick. Equal parts sweet and no-nonsense. It’s a look that says any woman can easily be the boss and still look effortlessly sassy, no matter her age. And it’s no surprise that we love it! Age like a pro! We’re a little, okay very, excited about the revelation that Angela is 42! She looks so fabulous. Yeah, we know there’s the popular argument that good genes are responsible. Still Motherland Moguls, you can be a busy smart woman and still look this good. The days of looking raggedy in the name of being ambitious are behind us. Armed with the right information and care, you too can age like a pro. Multitasking…our turf It will surprise you to know that highly successful women like the Governor of Savannah state, also run successful homes. Applying multitasking skills to your business or job actually works. Imagine that in addition to a hectic career or business, most African women still do school runs, cook, clean and get other life errands done. If that’s not superwoman-ish, I wonder what is! Politics actually looks good on women Any woman who can endure the brutalities of politics deserves our respect. If you’re unsure over your plans to join politics, Angela Ochello makes it look like it’s not such a big deal. Real life hasn’t yet determined if more women, especially of African descent can safely attain lofty political heights. Still, we think women should go for it. It’s possible, ladies! You can watch the series on Thursdays at 9pm WAT on EbonyLife TV (DSTV Channel 165).
5 things every startup should do to gain traction and attract customers
My parents always taught me that I have no limitations in life. Despite growing up in a society that tends to favour boys over girls, I grew up believing that everything I do will turn out well. And I always act out my belief everywhere I find. You can call me “Miss Optimistic”. In line with my “no limitations” mentality, I started Onpoint Success. I’m digressing but at heart, I’ve always been an entrepreneur. My first venture was at age 10 while planning my 10th birthday. I came up with the idea of custom-made invitations and was actively involved in every detail, from planning to music. Most people who attended were thrilled that a girl so young could pull such a feat. Soon, I was the go-to person for custom- made invites and party planning. In my middle, high school and college days, I was that girl offering to teach, share knowledge and empower others. An attitude that earned me the name “Mother Hen”. I found joy in helping others tap into their potentials and build something out of nothing. I didn’t really think much of it. After I graduated from college, I got married, relocated to the United States and started working as an environmentalist. Then, I made the decision to launch my events planning business on the side. However, something interesting happened. While minding my business, I started receiving messages from friends and strangers alike. They wanted me to share with them, tips on how to start and grow a small business. Being the “Mother Hen” I was, I spent the bulk of my time helping others build a better life for themselves. That was when I decided to launch Onpoint Success. I’ve been optimistic about getting it right from the very first day. But it didn’t take long for me to realize that thinking about a thing is very different from actually doing it. It was an uphill battle attracting customers who were willing to pay for my services. I had to wait fourteen long and excruciating months before the first customer paid me. I remember dancing when I got paid doing what I love and it felt so good! Today, even though I’m still working my way to the top, I teach, mentor and inspire other women entrepreneurs. I help them attract customers and get paid doing what they love. The only difference is —they do not have to wait as long as I did. Attracting customers All businesses need customers to survive. Unless your startup is a charity organization, the only way to prove your idea is viable is by getting willing people to pay for it. In my case, like I stated earlier, it was an uphill battle despite knowing that I had something valuable to offer. If you are a retailer, attracting customers might be easier, depending on what you sell. But even at that, prospects usually don’t like to be the first to pay you! As a startup, what then can you do to gain traction and attract the type of customers you’ve always dreamt of? Give freely “Touch the heart before asking for a hand” – John Maxwell I never gave thought to this quote by John Maxwell but once I started Onpoint Success, it all made sense to me. As a startup, one of the fastest ways to gain traction and make people believe in your brand is by giving things out for free. Most prospects may not want to pay for something that has not been “tested and proven”. To help people minimize their risk and open up the barrier of entry, consider giving things out for free. That’s what I did at Onpoint Success and it worked. I consulted for free with those who were trying to grow their business. I shared my expertise with those who were willing to listen. I consistently did this anytime I had the opportunity. This, in turn, helped me gain credibility and trust which then led to my first transaction and many more after that. Make your business presentable People send me emails to say how impressed they are with the way I presented my business. It’s all about being intentional and paying attention to details others might overlook. Simple things like having a blog, a company email address, and even a business card communicates to others that you are ready for business. In a mall the other day, I just couldn’t resist stopping by a cupcake vendor stand even though I had no plans to buy. Oh, how good looking and attractive it was! The cakes were well arranged on the stand, the decor matched the icing on the cake and the samples were strategically placed at the edge of the table. Eventually, I made a purchase. I have learnt and always shared with others that first impression really does go a long way. Yes, you might be a startup but presenting your goods/services to the best of your ability is a great way to gain traction and attract customers. Target audience One of the struggles I had was defining my target audience. And even when I knew exactly who they were, I was too scared to limit myself to those group of people. This made me stretch my resources too thin. It was almost like maxing out trying to reach those who barely cared about what I had to offer. The result? Wasted effort! The truth is, the marketplace is a jungle. Running to every tree in the jungle or telling every tree in the jungle to come to you is not the fastest way to attract customers or build a successful enterprise. The best way to go about this, is by identifying and deciding the specific species of trees that NEED your services. There goes your magic formula. Build your business focusing on specific customers. Make effort satisfying the needs of these customers and watch them begin to flock to you. Technical know-how I believe every business owner should strive for excellence. As a business strategist, I committed myself to learning as much as I could. So, when I met with prospects, I created an impression. Also, it’s better
Starting a Business: The Very First Step
Ready to be an entrepreneur but confused about where to start? Do you want to wake up every day doing something you love? Are you ready to be your own boss? Call the shots? If you answered yes to any of those questions, then you just might be ready to be an entrepreneur. But wait…do you know the first step in starting your own business? Before you run out and buy a $5,000 domain name, read this free guide to get you started down the path to financial freedom and personal fulfilment. This free guide walks you through the very first step in starting your own business: coming up with an awesome idea that sells. In this guide, you will find: Soul searching questions to help you pin down a business idea that is the right fit for you The main criteria used to judge a good business idea Stories and advice from women just like yourself Business ideas you can start today The secret ingredient that all great ideas have in common No one ever said starting a business was going to be easy, but it can be extremely rewarding. Make sure you start off on the right foot by downloading this free guide today. It walks you through the first step every entrepreneur needs to know before embarking on their exciting journey! Don’t delay! Get your copy today. So how do you download this free guide? Easy – just fill out the form below to join our community and get access to this guide and AWESOME weekly content. [ninja_form id=21]
7 entrepreneurial myths standing between you and your empire
The non-profit and even the for-profit scenes are booming across different industries. They are helping to strengthen communities in rural and urban areas across the motherland. It is pleasing to note that some of these budding entrepreneurs are women. Sadly, a lot of companies, organisations, and partnerships never go past their formation stages. Some of these ventures go bankrupt, are debt ridden and unfortunately, wonderful dreams die. Now, how do we encourage entrepreneurs, especially women, to venture into the unknown well-armed to outgrow the incubation stage? How do we get them disciplined enough to endure the initial pains required to become giant corporations? Well for starters, let’s try eliminating the myths connected with being your own boss. 1. You will have more time on your hands Yes, more time to rest! Or not at all. Don’t be fooled, ladies. You’ll have to work ten times more than the average employee working in an established set up. Remember that this is really about your dreams and aspiration. Getting the planning stage and everything else right should be your hobby. 2. You will make more money Of course, the ultimate goal is to increase your paycheck while being the next Bill Gates. But the honest truth is, you’ll not go above your budget without proper diligence. Don’t get me wrong, I believe in your ability to make money from your venture but it takes lots of discipline. There’s just no hard and fast rule to getting rich. 3. You are passionate about what you do and that spells excellence Contrary to popular belief, this is not a recipe for success. Sometimes, the things we’re most passionate about do not bring us financial gain. Finding ways to make your passion or hobby profitable is a skill on its own! 4. Your product/service will be sought after because you are popular This is another myth that has led to disappointment, especially for people with a wide network. People will not buy from you simply because they know you. If you’ve not proven to be an authority in your field with quick solution strategies, you may need to start thinking of ways of utilizing your own product or service. 5. Good entrepreneurs never fail As with everything, it is okay to fail. In fact, countless entrepreneurs failed repeatedly before succeeding at an idea. A perfect example is Evan Williams, co-founder of Twitter who failed at a podcasting platform called Odeo. Vera Wang also failed at different professions before becoming a fashion icon. Another famous example is Jack Ma of Ali Baba, the online shop. The list goes on and on. Be open to failure and keep trying! 6. The power card is all yours Refusing to be an employee and running your own empire is great, especially if your intentions are true. But if you’re driven by the desire to ‘lord’ over others, then you’ll be disappointed. Great empires are built on teamwork, shared ideas and collective effort. Mind you, though, you’ll need to work smarter than your employees. After all, it’s your idea. 7. A large capital investment with a great team makes a great company It’s true that capital and a great team are good tools for growth. But remember, some great companies started out in warehouses and backyards. Others started with less than five employees while investing in skills for their dream companies. The way forward Apparently, the best way forward for eliminating a stress-free work environment is by designing yours. Passionate people now lean towards innovation and job creation. It is the new cool to be called an entrepreneur as you can be the boss and set the rules. It’s no secret that in the last decade, new professions have emerged and improved existence and livelihood. Due to the needs of our dynamic environment, more intriguing jobs have evolved in the field of web app developing, blogging, SEO specialization and so on. Interestingly, women are at the forefront of challenging new fields in the service industry, science and engineering. Recently, the youngest female pilot, Zambian Besa Mumba made her maiden flight and she is only nineteen! In the end, Motherland Moguls, entrepreneurial myths or not, we can do this! Let’s begin, shall we?
Pricing as a start-up: Where do you begin?
You finally registered that business or online store, and already considering setting up packaging. Or maybe your website is up and running and you’re ready to pull out all stops to get your marketing underway. But there’s just one thing missing, how much should your products or services cost? Pricing isn’t easy; there are several factors to consider. You don’t want to seem too expensive and therefore alienate your target market. But you also don’t want to price it so low that it connotes less quality or cheapness. So what’s a girl to do? We all know that end at the end of the day, you’d want to cover your production costs and still make a profit. Because we all know those red bottoms won’t buy themselves. However, pricing has to be based on the value transferred to customers for using your product or service. Consider the cost of production and make comparisons between your prices and that of competitors. A general rule of thumb is to use the 10% rule by using the customer’s derived value and adding 10% to it. Got it? Good. Let’s explore some more. Know your customers/clients The better you understand your customers’ needs, the more accurate your pricing will be. Looking to your competitors for a pricing comparison should be based on the assumption that their pricing is ideal. Your competitors may be over or even under charging. So it’s still important to do a personal cost analysis and figure out the pricing that works best for you. Is your pricing above or below theirs? Does location, staff, size of the company, quantity, and quality of the products come into play? These are all worthwhile questions you should ask when looking to your for answers. “Profit is not something to add on in the end, it’s something to plan for in the beginning” – Megan Auman Price sensitivity It is important to note that clients and customers will only pay more if they have the assurance of value. So don’t be scared to test out several different prices at the beginning. It’s the same when you walk into a boutique, see a dress and instantly know it would be far cheaper at a regular clothing store. But because it’s an exotic brand, you believe it is of better quality and therefore, worth the high price. This is where price sensitivity comes into play. Price sensitivity is the degree to which the price of a dress in this analogy, affects the customers’ willingness to buy it. I like to call it the fine line between “too good to be true” and “dirt cheap” and therefore a bargain. You do this by offering a different price, typically with a 5% difference, to individual customers for the same service or product. The general idea is that if you aren’t getting pushback from at least 20% of your customers, then you’re on the right track. Also, it is important to note that there is less price sensitivity when the product is unique and hard to find. So make sure to distinguish yourself from competitors in a big way. The price would be worth it if the boutique is making just one dress per size. The exclusivity is almost like getting a custom-made dress. “The reason it seems as though price is all your customers care about, is because you haven’t given them anything else to care about”- Seth Godin Smaller versus bigger Giving customers a choice between several tiers in pricing helps establish how well your products/services are priced. Have you ever come across the low, middle, and high price offerings? This is called ‘Goldilocks Pricing’. With this, you get to choose between the inexpensive but not ideal and the expensive but full package. You then end up with the pricing that is just the right fit, like your very own Cinderella shoe. It typically has just enough features to get you started and is often the bestseller. More often than not, it’s a few steps away from that ‘premium’ package which you can upgrade to anytime. For instance, if you sell an 80-gram tub of shea butter for R60, then a 160-gram tub would cost 10% less than buying two 80-gram tubs. Chances are, the customer will go for the bigger tub which means more money for you, provided the production cost is not higher. Similarly, a “buy 3 products and get the cheapest one free” sale in a specific high-end product range/ service market will ensure that you still get your money’s worth. Make sure that you always capitalise on these opportunities by offering any extra features that come with the package. For example, 10% to upgrade to the premium package from a 7-day free trial. In summary, if your product or service is amazing, of standard quality and worth the price, customers will come flocking. Good luck!
May the odds be in your favour, financially
Fans of the Hunger Games series will be familiar with the phrase, “May the odds be ever in your favour”. While most people may understand odds to mean luck, in truth, odds have nothing to do with luck. And not only can they be applied to a game of war, they can also be applied to real life. You see in mathematics, odds = probability and what is life but a sequence of numbers. Everything that exists is literally a number. From statistics which study behavioral patterns, population, litres, volume, distance, percentages, angles, probabilities, averages, binaries used in coding and so on. In the grand scheme of things, we’re all numbers, 1 in 5 million, 1 in 7 billion (you get the gist) and finance is the ultimate game of numbers. I’m neither a scientist or billionaire, but it’s pretty evident that those who acquire financial success aren’t necessarily the most cunning. They’re not the most brilliant or hardworking people on the planet either. Rather, they’re those who realized early the math of financial success and tilted the odds in their favor. So briefly, let us look at the basic advantages of the world’s richest: Born with great socioeconomic bearing Better looking or smarter than the average Attended good schools Charted their career according to the predicted needs Remained consistent Number 1 already rules out 90% of the world’s population. You see, according to UNICEF, only 10% of the world’s population fall into the category of being above average socioeconomically. Number 2 cancels out 75% of the world population. Only roughly about 25% or less of the world’s population are deemed to be above average intellectually and physically. Number 3 is more within your control. But it is linked to your socioeconomic bearing, intellectual abilities, and decisions made by your parents and guardians. That leaves number 4 & 5 which are actually 96% within your control. So forget what you think you’re good at (technology proves that the world is constantly changing) and what everyone is doing. Instead, look into what the future looks like. Think, what are the strongest sectors that will stand the test of time? What are the most financially sustainable sectors? And similar questions. Once you have figured what this is to you, factor in the skills that you possess. At this point, you’re probably saying “Wait! You said forget what you think you’re good at!” Yes, I meant like knowing how to make good hair or being great at drawing. Innate skills such as creativity, musical talent, numbers, patience, social skills and others are inherent and not easily learned. They are your talents. Now, with these points in mind, chart a future for yourself with timelines and remain consistent. Let’s face it, without the advantages above, the odds of you cashing out big time before 30 are a lot slimmer. So ladies, let’s manage our expectations and never give up!
5 unsexy business ideas to get you started
Quirky title, hey? You see, when many of us ladies venture into business, we often look for the cleanest, neatest and safest sort of ideas. However, on the flip side, the dirty, messy, riskier ventures have a tale of profit to tell. Consider some of the ones below. Farming Many young people are dropping suits and ties for muddy boots. Guess what, turns out farming is feeding the nation while raking in returns. You can consider mass farming of basic food like onions, tomatoes, fruits. You can also venture into unique vegetables especially with the current eating-healthy movement. If those options don’t rock your boat, consider growing fruit and flowers to export to Europe. A business that provides basic needs, that is food, shelter, clothing has a higher retention rate in the market. You can lease land next to a good source of water, hire a few hands to help and get a truck to take the produce to the market. Better still, you can make friends with a broker who would charge reasonable rates. Just as with all businesses, ensure the market is ready for you. Do your homework and talk to a few farmers to get a sense of the industry. Interesting enough, ventures such as pig farming, snail farming, and even maggot rearing have found their place. Definitely not an idea you probably had but for the record, it’s working. Here’s more proof that farming is the new cool. Running a school This is another brilliant idea that works due to the rising population. There’s already a gap, just bridge it. It could be in extra curriculum activities or mode of delivery. You could start off with a day care or kindergarten program and keep working on the next grades/classes as you go along. Most schools started off like this. Worth noting though, is that the running expenses of a school are high, especially once it grows full-blown. Whether with the little ones in nursery school, pre-teens or teens, some chaos is bound to happen. Also, be ready to deal with the parents. Still, the returns are good and with consistency, it’s worth a try. Recycling/waste management Most countries in Africa seem to have a garbage collection problem. Of course, except Rwanda (we’ve got a national cleaning day, so don’t crucify me yet!), Johannesburg and Mauritius. Generally, waste isn’t managed properly and the rising population in major cities can attest to this. This thought lends itself as a business opportunity for an entrepreneur thinking of a practical and profitable solution. When it comes to business, other than maximizing profit, solving a need creates further sustainability and passion for the business. If you are sick of all the littering and dirty neighbourhoods, then piece that plan together. Plus, you don’t need to roll out in the city only. Consider smaller towns with bustling activity. You may need to talk to local authorities such as city or town councils, negotiate landfill rates and invest in trucks, rolling carts, incinerators and casual labour. One word of caution though, a research on existing cartels involved in this job is advisable. This will give you an edge and help you avoid being maliciously ousted from the business. Manufacturing or importing human hair wigs and extensions Everyone I know who ventured into this business with a passion is smiling at the profits. You just need to identify the source of the hair, which could be India or China. For the record, Brazilian or Peruvian hair is just branded as such but most of it is from China. Read more about this here. There are several varieties but once you find a reliable source, especially a manufacturer with ready-made hair, all you’ll need is some branding. You can actually do this locally and place your product in the market. Engage in some rigorous advertising online, in beauty shops or salons and there goes another (hairy) business idea! Running a funeral home I’m not going to risk sounding morbid, so this point is going to be brief. This may not need much explanation. With life, comes the inevitable end. You’ll definitely need to be tough to do this as you’ll have to deal with emotional families and friends still coming to terms with the death of a loved one. Undoubtedly, you’ll need ample space to accommodate an embalming room disconnected from the main home. You’ll also need a storage room for client files, a meeting room and possibly a room displaying options of caskets. You’ll need qualified professionals, dressing tables and materials and recommended chemicals, powders, and creams to preserve the body. It is estimated that one can break even in two years in this kind of business.