Looking for profitable business ideas in Kenya or Africa? You’re about to learn some really great stuff!
Africa is the next big thing and the land of endless opportunities. It’s no surprise that investors, multinational corporations and entrepreneurs from across the world are swarming to the continent, looking for a piece of the action.
While there are guaranteed ways to find great business opportunities in Africa, only the most successful entrepreneurs have mastered the art of finding the very best gold nuggets.
Most businesses on earth exist to fix problems.
Interestingly, the natural human reaction to problems and challenges is to complain, blame, curse and criticize.
That’s what many people do.
While these actions enforce your rights of free expression, they hardly provide any solutions to problems.
But entrepreneurs see problems differently. That’s why we’re unique people. We see business opportunities in every problem. We think of solutions instead of whining about our difficulties.
And because most people are frustrated by problems and challenges, they would gladly pay anyone with a solution to get it solved.
Have you ever had car trouble before? If you’re like most people, you definitely hate a car that won’t start or an ugly noise in the engine that could be the sign of something catastrophic. I definitely hate car trouble!
But you see, for a mechanic, car trouble means an opportunity to make money. Because an auto technician has the solution to your car trouble, you would gladly pay him to get it solved for good.
One person’s problem is often another person’s opportunity.
*African Case Study*
Iroko TV is a shining example of how a successful business can be built from solving a problem. Iroko TV is an online video streaming service that provides a catalogue of more than 5,000 African movies on the internet.
Before this business started in mid 2011, African movies were largely distributed by physical Compact Discs (CDs). This kind of distribution limited the spread of these popular movies, and entrenched piracy which caused movie producers in Nigeria to consistently lose money to the pirates.
Worse still, the CD distribution system made it nearly impossible and expensive for people in other parts of the world to get their hands on their favorite Nollywood movies.
Jason Njoku understood this problem and built an online platform that makes these movies easily accessible from anywhere in the world. Just a little over two years since Iroko TV started, it had already attracted more than USD $10 million in investment funding and shows no sign of letting off!
As you already know, our dear Africa is awash with problems. Most of our roads are broken, electricity supply is poor, young people can’t find jobs, our schools don’t teach well and food is insufficient.
Compared to the rest of the world, Africa’s problems are very many.
But while many people think this is a bad thing, I think it’s really good for us. Because, within all these problems are golden business opportunities to make money!
It all depends on your perspective.
You need to stop seeing problems in your life and and environment as ‘problems.’ Instead of whining, ask yourself: ‘How can I create a business from this problem?’
This is exactly how smart entrepreneurs think in Africa.
If you really want to make money in Africa, you need to start writing a list of all the problems you’ve noticed and start to think of possible solutions for them.
By the time you’re done, you’ll be flooded with great business ideas. That’s for sure!
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