Entrepreneurs are the Real Avengers

AFRICA CONTINUES TO FLOURISH AS ENTREPRENEURS BEARS ITS FULL WEIGHT ON THEIR SHOULDERS.

simon-abrams-k_T9Zj3SE8k-unsplash.jpg

Nearly every definition you can find over the internet or in books around the word "Entrepreneur " is skewed towards portraying the entrepreneur as someone who starts a business or a “start-upper”. That doesn’t even nearly capture what the entrepreneur is about. His high coffee consumption, sleepless nights, persistent headaches aren’t just because he is trying to start a business but because he understands that he bears the weight of the world on his shoulder. He is saddled with the responsibility of providing a solution that caters for specific human needs – that’s how great businesses are born.

Entrepreneurs serve as a country's economic pillar, playing important roles in the country's economy, from creating new businesses, inventing goods and services which results in employment, thereby adding to the country's national income.

the-digital-marketing-collaboration-i0WO_RzeB2Y-unsplash.jpg

Let me show you a direct representation of what entrepreneurs can do.

There are over 582 million entrepreneurs in the world. Africa as the second largest continent in the world has been blessed with an astonishing number of such individuals, with over 22 percent of its working population starting new businesses, which is the highest rate compared to any other region of the world. As a result of input from entrepreneurs, Nigeria's GDP increased by 1.9% in 2018 garnering $392.270 billion compared to 2017's $376.361billion. Nigeria's GDP has averaged $125.26 billion form 1960 until 2018 making an all-time high of $568.5 billion in 2014 – The Hill report.

Buoyed by a strong youth population, Africa is flourishing on the backs of these entrepreneurs. Vocational trainings are being introduced to both secondary and tertiary institutions in Nigeria in order to fuel the entrepreneurship drive in the nation. Thereby giving them the necessary tools to chart their own course.

The trend of entrepreneurship in Africa cannot go unnoticed as it leads the continent into a bright new future. They are the real avengers.

The ROI of Sleeping

SLEEPING IS ACTUALLY AN INVESTMENT THAT ALWAYS CERTAINLY YIELDS MAXIMUM RETURNS.

Source: Unsplash

Source: Unsplash

For a while now, TINK has turned its attention to emerging trends among entrepreneurs. Well who wouldn’t? This section caters for the largest source of employment across Africa and accounts for an extensive percentage of the GDP and according to Mckinsey, 22% of the African working age population are starting new businesses every year. This definitely is something to pay attention to.

I am certain you must have heard the phrase “you snooze, you lose”. This phrase turns out to be the unspoken mantra amongst entrepreneurs these days. There’s always something to do, some task to kill, some deadline to meet, and as such, forget to leave sufficient for sleep. In fact, sleeplessness is being romanticised across the continent. You hear two young people having a conversation and one of them is proud of how he hasn’t slept in the past 3 days. If you are found to have slept a whole eight hours and you are assumed to be a business owner, it always comes off as a shocker.

Doctors have said that on the average a person needs between 7-8 hours of sleep but trust me, in Africa those number of hours are too expensive and there are only a few entrepreneurs who can afford the luxury.

Source: Unsplash

Source: Unsplash

There are a number of benefits having a good sleep can give you, and they include as proposed by Health Line;

Regulating your weight

Poor sleep is strongly linked to weight gain. People with short sleep duration tend to weigh significantly more than those who get adequate sleep. In fact, short sleep duration is one of the strongest risk factors for obesity.

Helps you eat healthy

Studies show that sleep-deprived individuals have a bigger appetite and tend to eat more calories. Sleep deprivation disrupts the daily fluctuations in appetite hormones and is believed to cause poor appetite regulation. Sleeping right helps you eat right.

Improves Concentration and Productivity

Sleep is important for various aspects of brain function. For you to function optimally you need adequate time to shut down your system and let it reboot.

Improves your health

Poor sleepers have a greater risk of heart disease, stroke, and a cold. It’s known that sleep quality and duration can have a major effect on many health risk factors as a healthy sleeping culture helps your body repair itself.

Keeps you mentally healthy

Poor sleep is linked to depression. Mental health issues, such as depression, are strongly linked to poor sleep quality and sleeping disorders. It has been estimated that 90% of people with depression complain about sleep quality. Poor sleep is even associated with an increased risk of death by suicide. Those with sleeping disorders like insomnia or obstructive sleep apnea also report significantly higher rates of depression than those without.

Affects Emotions and Social Interactions

I for one I’m usually tired, hungry, and upset when I don’t get sufficient sleep. Sleep loss reduces your ability to interact socially and affects your emotions negatively.

Source: Unsplash

Source: Unsplash

So dump the competition of trying to out unsleep your friends, colleagues, and competitors. Try to get some sleep every now and then, it keeps you vibrant, healthy, and most of all, it gets you paid.

A.B.E.G

IN THIS NEW AGE WHERE DISRUPTION HAS TAKEN CENTER STAGE, IF YOU HAVE TO WIN YOU OUGHT TO BE UNDENIABLY INNOVATIVE AS AFRICA’S BURGEONING ENTREPRENEURSHIP GENERATION (A.B.E.G) IS RELENTLESS.

Source: Unsplash

Source: Unsplash

Regardless of the type of business you are into, you ought to read this article to the very last word, especially the So What section. It will point you in the right direction.

The 2018 Global Entrepreneurship Index (GEI) published by the Global Entrepreneurship and Development Institute (GEDI), put together the African ranking of entrepreneurship and this report saw Tunisia lead the park with a score. Botswana came second best with a 35 percent score; South Africa came next, as they clench third place with 33 percent; and Namibia ranks fourth with 31 percent. Runners up include Morocco with 29 percent; Egypt, 26 percent; Gabon, 25 percent; Algeria, 24 percent; Swaziland, 24 percent; Rwanda, 21 percent; Ghana, 21 percent; Nigeria, 20 percent; and Zambia with 20 percent. According to the report, Chad, Mauritania and Burundi are the worst countries for entrepreneurs in the world and in Africa.

Source: Unsplash

Source: Unsplash

This implies a great future for Africa as the increased number of entrepreneurs in impacting greatly on the middle class. As a result, that socio economic class is beginning to grow in Africa at an encouraging rate. According to Mckinsey, Africa now has the fastest-growing middle class in the world with a tremendous increase in consumer spending across the continent. It further highlighted that Africa will create 54 million new, stable wage-paying jobs by 2022, it will however not be enough to absorb the 122 million new entrants to the labour force over the same period. Which in my opinion is the reason many people are seeking other income generating ventures.

In addition, did you know that 22 percent of Africa’s working-age population are starting new businesses? This is the highest rate of any region in the world, according to the African Development Bank Group.

Source: Unsplash

Source: Unsplash

And so what?

So what if Africa’s burgeoning middle class shows tremendous growth potential for the continent? What if Africa is actually heading in the right direction? What if Africa one day leads the world in the number of entrepreneurs? What good will this do for you that is reading this article right now?

Well nothing essentially, the sole purpose of this article is to tell you to stop procrastinating and do that thing you wanted to do tomorrow today. As Africans all over the world are hungry for ideas, that idea you thought only you have will soon be executed by someone else. So get up and work.

Too Big To Fit

THERE ARE A NEW GROUP OF CONSUMERS WHO MAY NOT FIT INTO YOUR MARKETING STRATEGY AND AS SUCH WOULD REQUIRE YOU TO TWEAK THEM IN ORDER FOR YOUR BUSINESS TO THRIVE IN THESE NEW SPACES.

Source: Unsplash

Source: Unsplash

We currently live in a constantly evolving world. The things that made the headlines today may have never seen the light of day yesterday and those that made the headlines yesterday would never make it to the editor’s desk today. This is the main reason why we at TINK pay premium attention to trends as they shape the marketing and business landscape across the globe.

Well, we said that to say this. If your business, venture, or service doesn’t pay close attention to trends; you are heading towards the obsolete aisle, there you will seat with the high flying stenographers of yester years. Trust me, that’s not where you want to be. You want to be sitting with the Googles and Amazons of this world.

So if your business is currently client facing, most especially the B2C (business to consumer) type business then these trends are to be recognized as they present an opportunity as well as a challenge in Africa.

These trends are a fragment of the new age consumer who have carved a niche for themselves that we can no longer fit into a box. The generalisitic marketing communications approach can no longer work and as such marketing managers and sales representatives have to be more strategic and deliberate in reaching this lot otherwise, that cutting edge marketing campaign you spent all year working on may just get you in some social trouble you didn’t see coming.

First, we see the rise of Females in Entrepreneurship

Source: Unsplash

Source: Unsplash

In Africa, organizations such as the She Leads Africa movement caters to women on the continent and providing them with different forms of coaching and training to help them to start their own businesses. In South Africa, there are funds specifically meant to cater to funding SMEs lead by women called Angel Fund. And with movements such as the Me Too and 50/50, we can no longer generalize marketing communications and corporate strategy. Businesses now have to incorporate catering for women every now and then, otherwise they’ll come for you.

The LGBT and the Disabled

Source: Unsplash

Source: Unsplash

Let’s not be deceived, the LGBT community has come to stay and it is not going anywhere anytime soon. Although many countries in Africa are pushing back on accepting it, however the LGBT community is seemingly winning and as such we have to consider them in marketing communications. Also, we have more and more disabled people in our communities – little wonder why even architects are tilting towards an inclusive structure to accommodate them in housing and commercial structures. This therefore shows us how to channel marketing in the coming years.

Generation Z

Source: Unsplash

Source: Unsplash

Many marketing professionals have mastered the art of speaking to millennials, well a new challenge is brewing and that’s the rise of the generation Z. the millennials started the digital age but these guys grew up with it. They’ll make demands on faster responses, paperless communities, high speed internet connections, and on the go products. Businesses as a result of this burgeoning group would also have to begin to look into the possibility of remote working and flexi hours as they may be inclined to working from home or anywhere else they may be.

These group of consumers are setting a new tone for marketing in Africa and can no longer go unnoticed, therefore, one must begin to adjust strategies to accommodate these groups in other to win in every facet of consumerism.

The World Is a Mess; Call the Entrepreneur

THE NEW AGE SUPERMAN IS THE ENTREPRENEUR

Source: Unsplash

Source: Unsplash

If you look around your country you would find that there are many things going wrong. At some point, I used to think that disaster was peculiar to my country due to mismanagement of funds by political leaders, carefree attitude of indigenes, terrible information from the media, inflation, and the position of the content –I really don’t know how the position of the continent affects my country’s desire for devastation but I just felt it had to be there –until I began to travel around and saw that nearly every country in Africa had its own issues, and that explains the birth of the topic of this article.

The world, particularly the African continent is one big pile of horse shit –forgive my Swahili. However, the one destined to set this country back on track is the entrepreneur –he alone wields the power of change in his bare hands.

The clamor for change and better service is the opportunity for the entrepreneur to jump into the dressing room and come out in his bright and shiny spandex.

Source: Unsplash

Source: Unsplash

The current trend in Africa that a lot more Africans are beginning to look out for services they can render is helping Africa make a fortune. For example fintech companies like flutterwave, interswitch, payporte and many others have provided a lasting solution to online financial activities and have made a ton of profit from the venture.

A wise man once said “the problems in your country are your opportunity”.