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Clacollection9ja LeBron James Chioma Ifeanyi Eze Marcus Lemonis 06 21 37 Chioma Business School Hospitalityy is the New Scared of Delegating? (ASK) Crude Oil - Monica Find Out 7 Steps Google Ewhro Managers Use 07 24 39 Deji Yusuf Talks Cover Story: Samuel Entrepreneur Shows Akingboye’s Logit Logistics 09 41 Create a Community 29 ClaCollection9ja You’re Hired; No, You’re Around Your Business Fired! 5 Red Flags Startups Should Observe When Hiring 12 32 43 Up North with Event Gallery Forbes wealth Fuad Maqary creation list 16 35 Contents 5 Essential Cash Planning a Trip Soon?: Flow Management Michelle Diet-Spiff Techniques Every Startup Needs The Entrepreneur Africa is a media entrepreneurship lifestyle company, with primary focus on African businesses and the people behind them. We celebrate economic freedom, and reward enterprise and innovation. Follow us on social media: @the_entrepreneur_africa The Entrepreneur Africa www.theentrepreneurafrica.com [email protected] Startups In Africa: The Hard Editor’s Note Times, Nay; The Good Times Are Here How do you place two opposites freshmen. So Africa, right now, side by side and expect a reasonable represents the entrepreneurial outcome? How do hard times also good old days that western startup tantamount to good times? Oh, owners wish they could still relive. The Team well, if the place is Africa, the time Again, at this stage, most of Africa’s is 21st century, and the crux of the consumers are not traditional David Agu Esq. Publisher/Editor-In-Chief conversation concerns African or ideological in taste or brand startup businesses, then the above patronage, compared to their Drusilla I.B.O key phrases, ‘hard times’ and ‘good western counterparts, hence they’re Content Manager times’, can correctly stand side more open to try new comers, new by side and remain meaningful, products or several. As a matter of Kale Nuka Head, Business Development depending on your perspective or fact, as can be seen in the hospitality experience. Globally, startup failure industry and some other industries, Victor Okezie is estimated between 90% and 92% for the African consumer, it’s a Manager, Digital Edition within their first 3 years. In Africa, case of ‘the newer the better’. And it’s safe to conclude that startup what’s more, Africans are, by natural Dominic Onyebuchi Ugwu failure rate is sporadically higher makeup, very emotional and Head of Operations due to a myriad of reasons. From religious people. As such, emotional social, environmental, and policy and/or religious patronage is an Ogheneochuko Emily disenablers to funding obstacles, entrenched consumer behaviour. Legal Adviser etc, running a startup business had Thus, any startup that understands Emmanuel Ezeh never been this excruciating. Thus, this and leverages on it effectively Editorial Adviser only a very minute number make it will be on their way to not only to subsistence let alone grow into scaling but to joining the blue Chioma Okeke blue chips. chip leave way faster than their Personal Style Advisor But, guess what? I doubt that there counterparts in the West. But real Unique Vibrant Shoot had ever been a better time to start good times for African start-ups are Photography a business in Africa than now. Last the times ahead. As global focus week I was discussing with a friend, on Africa grows, as technology and Joseph Adukwu Yinka, who had just returned from digital education penetrates more Graphics Designer the USA to found an e-commerce communities and people of the Patrick Kimani (Kenya) startup, and he was full of smiles as continent, and as more and more Mawutor Adzato (Ghana) we narrated how his startup idea has feasible alternatives for some of the Chioma Ifeanyi-Eze (Nigeria) been so enthusiastically received in continent’s biggest challenges, such Deji Yusuf (Nigeria) Tony Okoroafor (Nigeria) Lagos, Nigeria, that just few months as power and data accessibility, Bornface Munamati (Zimbabwe) after his return his idea has already continue to emerge, African start- Contributors become a going concern. Yinka ups and entrepreneurs, generally, specially requested and I quote, are set for a jackpot. “America is hard for businesses, And on this note, I welcome you to particularly young businesses. If the 1st edition of The Entrepreneur you’re not already an established Africa (Startup Monthly). This company, you’d sweat for years and version of The Entrepreneur Africa still keep running in a circle, trying Magazine is here to become your to penetrate the market while ultimate companion as you paddle getting stripped of the little you’ve through the turbulent waters of made, by way of taxes, running bills, starting and nurturing businesses, and others”. especially in Africa. On behalf of the editorial team, I celebrate the Now, do you still wonder why a amazing young entrepreneurs who lot Africans in diaspora have been made it to the cover of this issue heading home a lot in recent years as I invite everyone to savour their to launch their innovative start- beautiful stories. We know you love ups, especially the tech-based summer, so we focused this edition ones? Africa is still very much an on travel and logistics, exclusively for David Agu, Esq. untapped wealth land, whereas you. *Winks*! Publisher/Editor-In-Chief most of the West are saturated and overstretched, making them ‘ [email protected] impatient’ towards entrepreneurial www.theentrepreneurafrica.com @davidlionbaba Dear Entrepreneur, Chioma Business School How Do You ASK?! By Chioma Ifeanyi-Eze Dear small business owner, are you sure you know When you make a social media post, ensure to include how to ask? a Call-to-action. Tell the customer how to buy the product. Don’t just post a picture and be waiting for a Asking is a very key part of selling in business. Proposals miraculous sale. are about asking. Include something like: call 0809xxxxx to buy, send an Even the bible tells us, that those who ask, receive. email to [email protected]. I find that too many people do not sell because they are When you write a Proposal, don’t just attach your not asking, they are only, informing. business profile, ask for something. What exactly do you want from that Proposal? State it clearly, without “Aunty, I make long casual Ankara dresses o”. blowing big-big English. Aunty will answer, “okay”. When you meet that Aunty in church, don’t just say, “I “Brother, I learnt how to repair generators and I have make Ankara dresses”, ask her if you can measure her finished learning”. and make a simple dress of N5000 for her. Brother will answer, “okay”. When you meet your neighbour driving out, don’t just I have received tons of emails titled Proposal, but say- “I sell washing soap o”. Ask him if he would like to when I open the email, all i see is; “Dear Ma, please find try your amazing soap, even if it is for one wash. attached our company profile”. I simply reply- “Thank you for sending this.” Ask! Afterall, you did not ask me for anything. So, let me ask again- Do you know how to ask? A lot of us do not know how to ask. Are you sure you know how to ask? We throw out the information and hope that the Do you end all conversations with a potential customer, proposed customer will magically understand what we asking? Are you sure? want and miraculously, a sale will happen. You post a picture of a shoe on FB, someone comments They say information is power. I hope you have been - “how much?”, you respond, “N5000”. empowered to ask? You stop there. Go out today and ask! Sister, you did not ask of anything. Close that sale, by asking. Go and learn how to ask. When you respond “N5000”, you should ask, “May I send Asking is a you an Invoice please? Kindly let me know your colour preference and size.” That is how to ask. very key part From today, learn to ask - stop informing only - ask. Ask in crystal clear, very simple, very understandable, questions, that lead to a sale. Call your customers to action. of selling in Ask them for a sale. When you write an email, end with a call-to-action like: ” “May I send an invoice?” “Would you like to have our business. account details?” “What colour and size would you wish to buy?” “Can I deliver it to you?” Proposals are Ask, ask, ask. Don’t just inform and stop there. about asking. Ask! Chioma Ifeanyi-Eze (Chioma Ifeanyi-Eze is the founder and CEO of Accounting Hub, a firm that provides high quality accounting services for startups and SMEs. Chioma Ifeanyi-Eze. @accountinghub. www.accountinghub.ng 6 - The Entrepreneur Africa, August 2019 Deji Yusuf Talk 4 Major Reasons Why People Buy Online And How to Leverage Them For Your Well, you could just put a spin on your product, that would help people save funds and earn an extra ROI. Business For example: If your app is a Chat App, you could simply have a white paper that helps busy people and business By Deji R. Yussuf Esq. people, respond to messages automatically so that it can help them boost the number of paid customers they get frequently. I bet Insurance agents, realtors, and investment advisors There is a mental barrier every business person must would buy whatever app you are selling to them just to JUMP over before successfully selling anything to any get a hand on that white paper! prospect. That is, irrespective of what you sell, most customers must have an argument in their minds before they pull Reason Two: They buy products that save them time out their wallet to buy.