Entrepreneurship

Diseases killing Startup

Now let us tackle the problems facing Africanstartups; there are a number of issues killing startup, and it is quiet sad how easily these things are killing startups in our communities.

How to start a business

  1. Startups succeed because they are solving a particular problem in the society, so if there’s no idea of such please it’s not able to sustain itself but fails.
  2. Not ever startup lack capital, but some receives too much funds and spend recklessly, venturing into unnecessary things and lack of proper business ideal or model.
  3. Seriously, you have have any necessary inventory to start a business, but if you lack a good team you won’t survive; the most annoying thing is all the you are looking for white colored jobs, instead of them volunteering to help the business grows. i.e. you have helped create employment in the society.
  4. Some startups develop great products but the prices are outrageous, leading to underperformance in sales and revenue. 
  5. A great idea is not enough, but founders should have a Monetization strategy from the beginning.
  6. marketing is very important, it’s not about creating a lot of products when people are not patronizing. develop a plan and time to market through all the social media platforms.
  7. changing ideas and visions can make founders too self absorbed, causing them to focus on the purpose behind product.
  8. Being in a place brimming with ideas and talents can help founders see their startup through, and the good environment will have the right audience most likely to use the products.
  9. Legal issues could arise when product is growing into a different field or marketing, so seek a friendly legal advice it’s very important.
  10. Don’t use connections you are not sure; the right people you trust and help you are the right channel to use.
  11. balance your working times and your life activities, this will help you keep a good energy to work more.

At the moment these all I have…. so you can also add yours or ask questions…

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Anthony Ansong

Ceo - Ansong Holdings LLC Co-Founder & Editor Light Magazine Africa Author of Children Book Entrepreneur

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