I thought I insert the phrase ‘Two heads are better than one’ to emphasize how beneficial partnerships can be to Africans, entrepreneurs especially. In the African entrepreneurship space, its totally valid to say that ‘Two dollars are better than one’, if utilized efficiently.
The energy of this article is driven towards finding solutions within ourselves to the problem of lack of funding in African start-ups communities. To solve or reduce such a problem, I eternally believe that certain young Africans start-ups should partner up with those of similar values so that capital, resources and ideas are combined in order to achieve their prime business objectives.
If you did not know, funding is one of the main necessities required in order to commence business activities. Unfortunately, its inadequate distribution has deprived many new African innovations. There are various ways entrepreneurs seek funding. One of the most popular is pitching to investors. However, most potential investors mainly search for business opportunities with potential returns(profits). Nowadays, due to risk minimization purposes, most investors ask for past experiences or companies you have worked for. I believe that not all young entrepreneurs come in the space with sufficient skills and the know hows of how to run businesses. This means that entrepreneurs have to come in fully prepared and equipped with full knowledge of what they will be engaging in.
Circle of Competence.
Thanks to Partnerships, it allows for tasks to be divided among its member so that each participant participates in accordance to their circle of competence. Circle of competence meaning talking about only what we have a deep knowledge about and avoiding going in to what we lack knowledge in. In your circle, everything explained flows out naturally with clarity, giving confidence to potential investors and increase the chances of positive outcomes.
Again, when young people of similar visions collaborate, ideas are weighed equally and up-scaled to have a larger effect rather than making decisions that only reflects ones perspective e.g about a target market and how products or services are to be designed.
However, this does not mean that all entrepreneurs are incapable of starting up alone, instead, a heads up for those who may not be exposed enough to know all parts of what they will be engaging in. The same partnership concept can be applied to Leadership.
Its fair to say that the biggest organisations in the world today were built on strong partnership relationships (friends, work colleagues, university friends). For example, Apple, Facebook, Airbnb etc.
Its good to work on our own but will we ever have a broad impact if we do not collaborate? A common problem in African societies. I would like to think that the upcoming generation reading this will begin to consider creating partnership bonds with those of similar values to look more attractive to investors so that they can impact their communities with the diverse ideas and innovative solutions formed through partnership bonds.
Hi, I am not an entrepreneur but how can I benefit from this as a Young African?
If we do not find solutions to solve our own problems, two things will happen:
Because our minds work faster than our actions, our ideas will dissolve.
Then someone else will execute on our ideas and we will end up saying,
‘Oh yes, I had his idea before, I wanted to do it but (searching for excuses*)’.
To young African entrepreneurs and future leaders, execute on your ideas, start little, partner up, share and develop ideas with people of similar values and visions who can help you achieve your goal.
One life, is the motivation.
Its either you do, or you don’t.
And if you don’t, you regret.
The best time of your life is when young. You have all the sufficient time and energy to do all that you love doing, your passion.
The most basic resources man has is Time and Energy, with that, he can create ‘more of what he desires’.
I am Gambian,
I am Pan African,
I am The Africanist.
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