8 Mistakes the African Diaspora Makes...Starting a Business in Africa
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- Опубліковано 10 тра 2023
- Dr. Harnet breaks down the common mistakes the African Diaspora makes when starting a business or investment in Africa.
Download Dr. Harnet's 10-Point Africa Business & Investment Start-Up Checklist here: drharnet.mykajabi.com/dr-harn...
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Hi Dr. Harnet! happy to see your videos again 🌸🌸YES , can you do an updated video on the risk and opportunity ratio for African countries. Many thanks💛
Hi Mechia, will put it on my video list. Thank you for your kind feedback!
Hi guys my name is Dele Joshua based in UK. I want to thank you guys for inspiring me I'm 54 I've lived in uk 4 35 yrs. Because of your videos I've gone back to university to study for an MBA in Agribusiness. I don' t plan to work 4 anybody after my qualification I'm coming straight back to Mother Africa. Agriculture will be my retirement plan. Once again thank you guys and looking forward to meeting you very very soon.
I am interested
Looking forward to an educated -informational session on these 4 types
These rules do not only apply to Diaspora trying to do business Africa, but also South America, the Caribbean and other continents. Cash Flow management is key.
Dr. Harnett I hope all is well with you. I thank you for the information it was so helpful. I use to watch you and somehow after my computers were stolen,I lost contact.
South America is infinitely easier and better to do business than Africa! I have businesses on both continents.
Dr. Harnet l appreciate your insight, encouragement and most of all, your transparency about your losts and health challenges. I so admire your strength and tenacity. You and your family are in my prayers. Keep operating in your purpose.
Thanks for the video
Great video!
Thanks
Insightful tips! Thanks for sharing.
Great advice!
Quite a few good points. thank you and welcome back
Veru detailed information Thanks
Dr Harnet thanks for this check list and Great Video. Thumbs Up
Thank you 🙏 for sharing your thoughts and experiences with us.
I am at min 1and loving it already... looking forward to more plz
Hi Dr, I will probably contact once I get to Kigali. Thank you for these videos.
Thank you Hadnet haftey. Great job.
Hi Miss
Very good advice, thank you from Australia.
You are an amazing woman! Thank you so much for your platform and sharing so much valuable information. I will watch more of your content. Peace and blessings!
Love your advice, you keep serious people inline
Thank you so much, dear family :)
Wow, this is incredible, keep it up
Thanks, doc! Great one. My first business failed due to managing it via my family. It didn't work out, and I have learned so much.
Hi Dr Harnet, welcome back, i missed your content during the break you were ill. Glad and thank God for your healing.very glad of your content.yes i made this mistake.
We LOVE YOU, Dr. Harnet! Thanks for the info!
Thanks so much, dear Ndi!
Very valuable reviews and nuggets of local intelligence, thanks. Would most welcome your review on the countries Risk-oppotunity by country.
That is a very valuable advice. Thank you👍
You are very welcome, Oliver.
Excellent video! Precise! Thank you Dr. Harnet.
Thank you very much, Senay!
Great content 💯🙏❤️.
Please keep me updated
Sister, thank you for sharing and taking the time to share this wisdom and knowledge 🤎
That is great advice Dr. 🎉 I am planning to do business in Rwanda now your lecture triggers me move now rather than delay
Spot on! Dotore. Happy to have you as my online mentor. You gave me hope to make a decision. A former from Mozambique.
Wonderful to hear that, dear Berhane. I wish you all the success!
hi Dr. Harnet thanks for giving us all these gems ...to help us make better choices in our business ...
Thanks for your kind feedback, Meles. You are most welcome!
Always good gems. Spill the beans african queen. Thank you so much!
Thank you so much, Jicool!
Great advice as always Dr.! The first mistake (emotional driven) is the most important....along with many in the American Diaspora attempting to bring their materialistic Western culture mentality with them - in a vain attempt to create the imaginary American Dream they could never achieve in America.
Thank you for sharing your thoughts and your feedback. Much appreciated.
An attempt to bring the AMERICAN DREAM indeed is but _VAIN_ 💯🙌🏾
Wow thank you , I will open my first business . Gas station ⛽️ plaza no idea what I am doing a registered nurse back ground to business woman. Left Africa 25 +years to Europe and USA 🇺🇸
Thank you for such an indepth presentation. You're teachings are a great resource for those looking to do business on the continent.
Thanks for the kind feedback, OC.
Lady Visionary here. Critical points. Thanks for sharing. This business venture in Africa is highly challenge . We are in the first year.
Welcome Dr Harnet. Looking forward to hosting you at Twin Lakes.
Hi Lady V! I still have books for your library! The address you sent me didn't work.
You looked great Dr. Harnet. Thank you for sharing . May you be richly rewarded.
Amen. Thank you so much, dear SealedByYah.
Thank you Dr. Harnet, your advise is always on point. We appreciate you taking the time to share such gems with us. 😊😊
Thanks for your very kind feedback, Queen Jodi.
Well said Dr keep it up
Hey Dr. Harnet how you doing thank you for you give as information to African diaspora
Thanks Dr. Harnet. You're always on point!
Thanks so much!
You're wonderful. I would like to join the course please. Thanks
Sale higher end❤ Great advice. Thank you.❤❤❤
Thanks Dr. Harnett, we appreciate u as always but moreso spoiling us as of late 😊.
Thank you, Panafrocanam, time to spoil and be spoiled. 😌
Dr Harnet, I always pray that you get well, strong, and energetic.
Thank you so much, very kind of you!
4 different African Business Market (high/low risks - high/low opportunities).
Don’t follow your heart, follow data 👍
I’m very curious to know what is your actual list knowing your experience in doing business all over the continent.
As you said, you should consider making a video on its own about this topic.
My personal experience is limited to the EAC and here is my list :
HRLO
- Burundi
HRHO
- DRC
- Uganda
LRLO
- Rwanda
LRHO
- Tanzania
- Kenya
N.B: “Low risk” comparatively to the other countries in the EAC, on a worldwide scale, these countries will still be considered high risk.
Thanks, Anthony for your feedback. Will do!
Great video this is extremely important for people thinking of doing business in Africa, I learned the hardaway and made a few of these mistakes everything your saying is 100% facts, Thank you for caring...
Thanks for the valuable feedback, Dot Africa. Much appreciated.
I watched your video often, it was great motivation on my journey to start business in African. Thank you for your efforts to change the life of Africans.
Thanks so much for your kind feedback, Efram! Wishing you all the best from my heart.
Well done Sistah.
Good information. African businesses are very challenging for us Americans, particularly in West Africa because of how things have been ran historically on the continent. There really isn’t a method to the madness. One crucial point that I thought you would mention in business education is understanding the main trade language. That could be English, French or a highly spoken traditional language in the country.
Diaspora ? I think we all are concern too, we who never left. Thanks Dr for the video and the checklist
Mrs Harnet all the best from Poland!(new market)
How contact You!
Hi Dr. Harnet!
I first heard about you from Oshay Duke Jackson! He speaks so well about you. Most recently, it was the Most High that turned me on to you. APTTMHY. I kept saying to myself that I need business training and I need training for the African markets especially since I want to invest and do business there. I hope you will be offering classes soon. Can you do a more current video on the High/Low risk countries based on the current market changes? Thank you so much for sharing your knowledge.
Valuable advice , where does one find your e-book?
Hi Dr Harnet,
I'm always happy to listen to your UA-cam videos & feel motivated to help you succeed in your mission to elucidate Africa to others to help dispel the notion that Africa is an unfathomable, back-of-beyond dark continent.
And to add to the advice you give in this video, may I suggest that as a rule of thumb & especially to mitigate the risks of failure when going into business in an unchartered territory, it could be a good idea to segment a business enterprise into 3 as follows:
1) short-term business enterprise where the profits can be immediate or come in in the short term,
2) middle-term business enterprise where the profits are expected in the middle term,
3) long-term business where the profits come in in the long term.
I believe that investing one's money in the 3 types of business enterprise as mentioned above i.e. using a "pick and choose" method to spread out one's investment instead of putting all of one's eggs in one basket could be a good formula for success.
More precisely, after a careful evaluation of the dynamics at play in Africa, I've identified a number of businesses that could bring a good return on investment for African-Americans wanting to invest in Africa viz.
a) tourism that caters for a Diasporan clientele.
By pooling together their investment, African-Americans could build tourist lodges in various African countries, of course after having first scouted a number of countries & identified suitable locations for such lodges & negotiated with the authorities.
A number of tourist lodge models come to mind among which the Kenyan tourist lodge model & even the New Jersey style Patel motel model could be implemented in Africa to cater for African-American tourists, who I'm pretty sure would like to visit the continent of their ancestors in droves if budget tourist facilities are made available to them.
In short, a budget tourist machinery catering for African- Americans & other Diasporans wishing to visit Africa can be a money spinner!
b) another business model that can make African-Americans money in Africa is the transformation & commercialisation of African raw materials.
A good example is provided by Thaumatin, that African fruit reputed to be about 2000 times more sugary than sugar/sucrose, in fact, some years ago was selling for about 8000 dollars a kilo.
Check out the information on this website: www.essentialbaits.co.uk/index.php?main_page=product_info&cPath=3_21&products_id=69&zenid=pu5pcmrboo5ga04bkigbo2o0u6
Another example is buying gold, diamond semi precious stones from African mines/sources and using these to make exquisite jewellery based on designs from rich aristocrats & selling this jewellery to them and to other VIPs 😂
In fact, Akon, the musician has recently invested in mining in Congo DRC and could help secure gold & diamonds from that country.
Not to mention that both Congo DRC and Zambia are awash in malakite a by product from copper of which the 2 countries are leading supplies. However, unlike copper, their malakite is still waiting to be commercialized big time & I'm very sure that malakite objects, accessories & whatnots can find a big market in the US.
I'll stop here & wait for people to contact me through Dr Harnet if they need someone like me to be their consultant/pathfinder in relation to Africa, a role that I believe I can share with Dr Harnet😂
I'm originally from Ghana, where we do a lot of African Studies which explains my depth of knowledge about Africa.
Thank you Dr. Harnet. I enjoy the wisdom and invaluable knowledge that you share with the world about starting and/or running a business in the continent of Africa. What would be your advice for someone looking to start a shoestring business in the IT field such as web design and/or SEO (search engine optimization)?
Hi Kandaman, I would start with a very clear niche in providing your web design services - within a particular African country (so, again narrowing down your reach very precisely). For example, web design for luxury real estate companies in Namibia, or web design for entrepreneur start-up hubs in Nairobi, Kenya.
Thanks for all your videos. It's really helping. It's a shame you don't have 1M subscribers but that's just the way it this... i guess.
Thank you for your very kind feedback, Jo. I appreciate it.
Thanks Dr. Harnet for sharing this. I like #8. Another aspect of it is that success in one country does not guarantee you success in another African country. For instance many successful South African businesses have failed in Kenya. From Nandos, Shoprite, Castle Breweries, Builder's Warehouse etc. Each country is unique and some countries are similar than others. Sometimes even neighbouring countries with shared history could be vastly different business wise.
Tanzania and Kenya could be very close culturally but very different business wise. Rwanda and Mauritius may have so much in common business wise but very culturally different.
A business a an idea. An idea is always an answer to an explicit or implicit demand or need The business is then the answer to that implicit or explicit demand or need.
How you find the idea
You are inspired. Therefore, before starting a Business in Africa, have an idea about the environmental realities, by doing so you will be inspired by the ideas of business that can answer the needs, the demands that are explicit or implicit in the environments. This step is a form of due diligence.
Thank you for the advice and information. I would like to DM on some advice on investing in Rwanda for a start. Thank you.
Hi Maxwell, thanks for your feedback and great to hear about your interest of investing in Rwanda. Due to the nature of my work (getting hundreds of email requests each month from across the world) I have created our online group. You can just join my newsletter for free via my website www.africajumpstart.com - and you will get mailings when we do FREE Africa business & investment Q & A. Hope this helps!
Please host another US event! The last one in NY a few years ago was amazing
Oh, thank you so much, ZubuTV! I am still recovering from major illness, hence for now doing a big Africa business boot camp closer to home - Kigali, Rwanda is on my list - hopefully in 2024. I loved the vibe during our US and UK events...
@@dr.harnet466 I pray you fully recover. If it’s in Rwanda I will be there
A real operator. I have your book.
Thanks so much, much appreciated!
Asante for the words of wisdom. I am based in Mauritius. I am emotionally attracted by the east side of the mainland. I have various skills and I feel the need to invest in something. I have built an animal hospital that is doing marvelously well that I wish to duplicate in various locations. I have been observing and finding other sectors where chances for success seems high. I have no one to discuss with :(
Wonderful to hear regarding your success with a veterinary hospital. Instead of starting such hospitals in other countries in Africa which could be challenging to manage for you, why not become a trainer or consultant to other vets to replicate your success story. You can be even paid for online training in this regard, which is much easier. You may also become an co-investor in such vet clinics. Regarding 'having someone to discuss with', this is where I come in :) I do not provide 1:1 at this point, but make sure you are in my private mailing list (you can join my newsletter via www.africajumpstart.com), as we run free Q&A for our online community a few times a year. Hope this helps!
None of the evaluation criteria mentioned are specific to Africa. Every investor in every part of the world needs to be aware of these points and country-specific situations.
Can you please do a video on Risk - Opportunity Ratio?
Did you do a risk opportunity matrix video?
I can’t seem to find the link the download the book
How do I subscribe to the newsletter please, the link isn’t working anymore
Which african countries fit in the four different zones you mentioned? Any links to any document that discusses this?
Dr.Harnet thank you for this very good video today.
I need to know what it takes and do I have to do business with the various countries of the continent and not make costly mistakes and what to expect or actions that indeed one would need to take to be successful. I would like to pick electronics and science and technology and teach there or herbal medicines importation and export some things from America that would be needed there. So you have an opinion as to what country or countries would be best to do these types of businesses with?
Please let us know all that you can culturally what to know and expect and perhaps the cost involved and is prohibited or exempt from importation or exportation. Peace!
Thank you Le G for your questions. I have to say there is so much guidance and strategy I would like to give you, as you touched on several aspects....I would also need some clarity (e.g. my advice would depend on where you are based US or Africa, for example, or what budget you have available etc). But it exceeds my capacity here in the comment sections (This is why I have my membership programs, to dive into individual businesses & challenges of our members). Just shortly: Exporting out of Africa or intra-African trade is more sustainable than importing into Africa when you are a start-up (check my last video on this). Superfoods and herbal medicine as suggested by you are great products, as they have HIGH relevance in today's world and we can expect this to grow. In any case, always start small and test your product in a certain market, before you invest a lot. Hope this helps. Maybe join our Africa Business Academy, so we can work on your business in detail.
@@dr.harnet466 Thank you Dr. Harnet! I will take your advice and guidance and take a look at more videos on the subject on your site. Things have changed is to why i have asked, as to some supply and instability in some nations. Yes you have been a great help and i applaud your mission here.
I will be joining your network if i can figure out some more of what i need and can supply and to be successful. I look forward to this.
4:18 - I'm curious about how the different categories of low risk/high opp or low risk/low opp are measured. Could you tell me more about the metrics used to measure risk and opportunity? Thanks!
Sure, Aba Ibrahim. It is a little of a lengthy process applying numeric value categories to each African country (I have studied statistics at university, which helps :)). I have kind of invented this method for Africa, hence I am literally sitting there applying one numeric value after the other - manually. I have been using a combination of the African-lead 'Mo Ibrahim Index for Governance" in Africa, where indicators such as Saftey and Sustainable Economic Opportunity are integrated among other...I coupled this with World Bank data for 'Ease of Doing business in Africa' (but heard this will be discontinued by the World Bank)... and further applied 'corruption indexes' and emerging economy attributes. Hope this helps!
@@dr.harnet466 - Great! thanks for clarifying that. I didn't know about the "Mo Ibrahim Index for Governance" before. That's really interesting that his foundation, which is native to Africa, has taken the lead in measuring governance and economic opportunity in the continent. Thanks for sharing!
Great presentation! However, I try my best to take the data from these international organizations [world bank, imf, Mo etc] with a grain of salt. These data can only be a starting point but it cannot be the final input for strategic decision.
Entrepreneurs always follow their unique path to achieve success and that special niche.
Hi Dr Harnet, how can i contact you please? Thank you for insights
🌸
That's me juggling in many businesses
This is very business educational more so the mistake of selling to the poor, its so frustrating..they love credit business yet are poor at paying due to their low incomes
Thank you for your thoughts & feedback, Bahati.
I've been in Kigali for nearly a year now, my biggest struggle has been finding partners. I'm going to do what you suggested in one of your older videos and find strategic partners and pay them $5k for each real estate impact investor they send my way. I might also join your real estate program in a few weeks and maybe work out a deal with you as well :) Good day.
Hi J.K. thanks for your feedback, and I do understand your struggles. Yes, strategic partners are powerful - your offering of $5,000 sounds generous...but I have too little information to guide you on this (risk or opportunity of your strategy). You are most welcome to our Africa Real Estate Network. We have already formed powerful connections and it is all about buying / selling, forming powerful industry partnerships, and learning about the latest trends & insights in the real estate industry. Here is the link - we are meeting again soon for our next live Zoom conference: drharnet.mykajabi.com/join-the-africa-real-estate-network ... Hope this helps. Wishing you all the best!
Do you have a website? Provide me your contact, I am doing my research on Rwanda and may relocate there
I need to sign up but I cannot find a link .African business jump starter .
Please join my free newsletter via www.africajumpstart.com . This way you will be able a few times a year to sit in a Zoom room with me and our wonderful online community to discuss your Africa business questions. You may also email my team at info@africajumpstart.com
Hi Dr. Harnet, are the counties on your High Risk - Low Risk, High Opportunity - Low Opportunity African Countries' quadrant chart still the same or does the chart require updating for 2023? Thank you.
Hi Don, great question. If you have my map, 95% of that still applies, as it takes a country many years to make major shifts to end up in another category on my map. I was in the process of updating it all, but fell short of it due to my illness (over 3 years of living with debilitating Long Covid now, which has limited me). In short: Those countries that were already within the green low-risk / high-opportunity category will remain there, even if they continue to make improvements. Tanzania is a good example. Ivory Coast was a striped 'border' country on my map. Not sure if it now moved to be a low-risk / high-opportunity altogether, but going into that direction. Zimbabwe and Zambia (among a couple of others) have seen some major declines, which makes them higher risk than they used to be....but I would need to look at the data to know for sure. Hope this helps.
How to contact you
What do you think the risk/opportunity ratio is in Ethiopia ? High risk high opportunity?
Dr. Harnet I Appreciate your input please how can I get in touch with you. I am from the African living State and will like to start a Business in Ghana or Rwanda I Want your help please. Thank
I will like to start a business i nied more information & how can i contract you
My mistake was not having basic knowledge of the law around my business. It costed me alot of money and stress.
I really want to start a business between Africans
There is absolutely one thing she didnt mention in here talk. Do not hire family and relative to run your business. Remember to hire people that be accountable to you and your business as opposed to people who you are emotionally connected to. If you cant take them to court, then you cant hire such.
How can I get your contact and talk with you?😊
Hi Dr Harnet, how can I get in touch with you.
Please join my free newsletter via www.africajumpstart.com . This way you will be able a few times a year to sit in a Zoom room with me and our wonderful online community to discuss your Africa business questions. You may also email my team at info@africajumpstart.com
ሰላም ዶክተር ሓርነት ኣብ ሕይወት ጥዕና ኣብ ስራሕኪ ኣሳልጦ ይምነየልኪ። ብምቅጻል እንተተካኢሉ ብትግርኛ መደብ ግበርልና፡ እንግሊሽ ትወሓሓደና ሰባት ኣሎና፡ ክሳብ እንግልሽ ጥዑይ ጌርና ንምሃሮ።
የቀንየለይ
I have plan to move to Rwandan could I contact you am Eritrean DR.harnet
Your are beautiful ❤❤
What confuses me is that you talk about Africa as its 1 country while is 55 countries which each have ppl with different mentalities, different ways to do things, different ways to understand things, etc etc
Why are you only open to diaspora? I am not, but I love Africa and really interested in doing business in Africa.
Africa has got 54 countries and you keep on referring to it as a single country. We in South Africa and the conditions of you doing business in South Africa are not the same. Africa is different country by country.
how to contact you for business cooperate
I wish I could pay her for a consultation. Im a Black American, and I own a call center. I've been in business for 10 years. They take calls for a regional telecommunications carrier here in the states I have agents in Nigeria, Kenya, and Egypt. I also have data entry services in my center and I've hired 20 agents in Ghana in that position. I pay my agents $8USD an hour, they work 40 hours a week, I pay them every week, I offer 2 week paid Vacation time off, and I offer up to 6 months of paid time off for emergencies. And I send them all the technical equipment they need. Its been 2 years since I've been in business in Africa and profits are good and I want to hire in South Sudan, I wonder if she would know how to make connections in South Sudan?
Why can't you pay her? This is an investment in your business and if you are in the US you can claim her services on your taxes for training.
How does it work Call centre🥰
Try coming to gambia 🇬🇲 for call center and I use to live in chicago for 16yrs and am back home
@@frana.4086 I don't know how to contact her, that's why...
Hey I've re-located to South Sudan (been here 3+yrs). Maybe I can give u some info. If interested send me ur email address & we can chat.
Hallo Dr. Harnet . How can i contact you ? Do you have Email adress ?
You may reach my team at info@africajumpstart.com - I hope this helps!
Good morning Dr Harnet. Are you doing 1:1 at all? I'm in Kigali for business and would love to meet you if you're free (via Zoom is ok too)
*Update* I will also send you an email.
Dear Bubs, due to the nature of my business (and my illness), I am currently not doing 1:1. I am sorry I could not be of more help to you - but nevertheless hope, you had a successful trip to Rwanda. I hope you have joined my Email list. Please join my free newsletter via www.africajumpstart.com . This way you will be able a few times a year to sit in a Zoom room with me and our wonderful online community to discuss your Africa business questions. I wish you all the very best!