How to Become a Billionaire in Africa – Success in life depends on how you handle your failures. Being a billionaire in Africa is more than having a bunch of zeroes. Working from a life of little or nothing to living in the lap of luxury is the classic African-man dream. Here’s a theory I have cooked up for days on how to become a billionaire in Africa.
There are a lot of business opportunities in Africa that do not exist in other parts of the world, yet Africa is seen as a poor continent. The employment constraints in the formal sector in Africa have made it impossible for it to meet the demands of the continent’s working population of which over 60% are the youth. Therefore, it is imperative we harness the potential of Africa’s youth to engage in entrepreneurship and provide adequate assistance to enable them to succeed.
Several governments have been working to provide a conducive atmosphere which will promote entrepreneurship on the continent. However, there is still a lot more to be done in ensuring that the potential of these young entrepreneurs are maximized to the fullest. Some of the challenges young startups in Africa face are as follows: lack of access to finance/insufficient capital; lack of infrastructure; bureaucratic bottlenecks and tough business regulations; inconsistent government policies; dearth of entrepreneurial knowledge and skills; lack of access to information and competition from cheaper foreign alternatives.
It is therefore imperative that governments, non-governmental agencies, and the financial sectors work together to ameliorate these challenges itemized above.
The governments of African nations should provide and strengthen its infrastructure (power, roads and telecom); they should encourage budding entrepreneurs by ensuring that finance is available to businesses with the potential for growth and also commit to further improving their business environments through sustained investment; there must also be a constant push for existing policies and legislation to be reviewed to promote business activities.
These policies must also be enforced, and punitive measures put in place to deter offenders; government regulations should also be flexible to constantly fit the dynamics of the business environment; corruption and unethical behavior must be decisively dealt with and not treated with kid gloves. We must empower our judicial system to enable them to prosecute erring offenders with appropriate sanctions meted out. There should be no “sacred cows” or “untouchables”. The same law must be applied to all, no matter their state or position in the society; non-governmental organizations can also provide support for them through training and skills acquisition programs that will help build their capacity; they could also provide finance to grow their businesses; more mentorship programs should be encouraged, and incubators of young enterprises should be supported by public policy aimed at improving the quality of these youths and their ventures; and also, avenues should be created where young entrepreneurs will be able to connect, learn and share ideas with already successful well-established entrepreneurs.
What, according to you, are the attributes needed for tomorrow’s billionaires?
There is no overnight success. You must start by dreaming big and working towards achieving it. You must be determined to succeed despite all odds. Do not allow your setbacks or failures to stop you but rather make them your stepping stone. Develop your strengths to attain excellence and be tenacious, never give up on your dream or aspiration. Your word must be your bond. You must make strong ethical values and integrity your watchword. Always act professionally and this will enable you to build confidence in your customers and clients.
How to Become a Billionaire in Africa
1) DISCOVER YOUR PASSION
Nothing is as important as passion. No matter what you want to do with your life, be passionate. For there is nothing great that happens in the life of a person without the person first discovering the reason why he exists. I regard this as the first step to becoming that billionaire you sought after. You have got to find that thing that makes you sleep late at night and wakes you up early in the morning. The truth about life is that without considerable effort spent on finding your true self, it will be difficult to gain influence in life. For everyone’s dream is to be known and recognized but only a few has the time to sit down to discover his/her passion. There is no other way to go around this rather than self-discovery, for with it everything in life that was invented began. You want to become great? You don’t just sit there folding your arms, get up and find somewhere inconvenient where you can discover your passion truly.
Africa needs your passion, so decide right now that it’s possible to find it, and use this guidance to gain clarity. When you find your passion, be assured; it will always guide you right.
2) GET SKILLED
If you are to desire being a billionaire, time and study would be required. This is the next thing that happens in your life after first discovering who you are. If you want to be respected, honored, and influential, you have to learn from your predecessors and that’s getting all skilled up. Gaining more knowledge in that passion you have found will make you attain the height you desire. To mention a few names like Aliko Dangote (Nigeria), Christoffel Wiese (South Africa), these people found their passion and didn’t just stop there, they went ahead to acquire enough knowledge in what they should know. The moment you think you have nothing left to learn is the moment you kill your potential, for it’s what you learn after you know it all that counts. To be a billionaire, you have got to think like one; you have got to sacrifice what you have to acquire what you need.
3) START NOW
After close study on discovering your passion and gaining more knowledge on it, the next step is to put everything into action straight away. Starting your passionate business and taking it to success isn’t always easy, but for those with good business sense and the ability to spot start-ups that have potential to be great, entrepreneurship can be the vehicle to their wealth. The truth is that time won’t wait for you to begin to explore of all what you have inside of you, you have got to take the plunge and start work immediately. Are you into buying and selling? Start that business now. The world is ruled by men of action and not men of procrastination. Without you showcasing yourself to the world, it will be quite difficult for you to have influence over what you are doing. Until your immediate environment and community know what you do, then you will begin to explore far beyond your capability. Tell someone about what you do and have that person tell another person until what you do becomes no new thing any longer.
4) BE CONFIDENT, DISCIPLINED, DETERMINED
After all said and done, you won’t be close to being a billionaire if you don’t take this step into consideration. Africa is wide and therefore only those who won’t give in to the situation and circumstances around them will eventually triumph. Regardless of any business you may want to do; being confident, disciplined and determined will get you to that spot. Those qualities allow you to look at old things in a new way, to see the potential for change and profit where others see only what already had been done. Failure will never overtake you if your determination to succeed is strong enough.
5) PUT GOD FIRST
When you put God first, all other things fall into place or out of your life. You can work all you want and read all you have but the main factor is God. If you do not put God into what you want to accomplish, you may end up not reaching that limelight. The steps to becoming a billionaire in Africa is the same step you need to becoming that billionaire in the world. Discipline is the bridge between goals and accomplishment; therefore, you have got to reflect over these theories over and over again until you begin to have that feeling that to be great is a thing of the mind.
It’s not easy to build your passionate business from scratch, especially when it’s a fortune of billions, just remember that time is on your side if you don’t rush it.