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Thursday 16 September 2010

RELOCATION TO AFRICA SHOW 1

   Hello and welcome again to Konnekt Afrik Talk Show, the topic for the days is RELOCATION TO AFRICA. Now in this segment we carried out extensive research on the various reasons for African living abroad, finally deciding to pack their bags and relocate to Africa.


And it appeared that people do actually relocate to the African states, primarily for the purpose of setting up a business and the advantages that they stand to gain from a market that has resources that are yet untapped.
So Just like we do in Konnekt Afrik we went out to investigate with Kingsley Eke in the streets getting the views from the general public and also joining Juliet Oparah in the studio Speaking to Two distinguished guest, who have both in the past made plans to relocate back to Africa (Nigeria), but unfortunately did not get the same results, which was the success that every business owner or creator wish to attain in their business.

Now for those of you that missed the show, we will tell you our findings and this can be some tips and advice which you can incorporate while making you business plans and moves to relocate to any of the African states. Tips are these:

  • Time to Move
  • Capital
  • Political Climate
  • Knowing your market (pricing and your niche)
  • Having an Insider
  • Power & Infrastructures (electricity, road)
  • Budget Control
  • Backup Plan (Plan B)



Ok at this very point; we will now analyse these point closely and see how they play a key role in determining the success or failure of setting up a business in the Africa states. Remember “IF YOU FAIL TO PLAN, YOU PLAN TO FAIL” so planning is KEY.


TIME TO MOVE
I believe that of all things in business, timing is Key and should never be underestimated, as the result can determine the failure or success of the business. So on the time factor the advice we received from our guest on the show was this, when planning to relocate, do not just decide to relocate after a summer holiday. Perhaps during the holiday while parting and having fun, drinking and disturbing the peace around the neighbourhood, you suddenly get hit by a bolt of lightning and you get this business idea and based on that, you decide that the next time you go back to Africa, you will be engaged in setting up this business and that will be the thought in your mind when you’re travelling back to whatever part of the world you currently do reside.


For anyone with such an idea or perception please perish that thought as you may be missing a key point which is; there is a clear distinction between planning a holiday or being in a country on holiday, and actually setting up a business in that country. These two instances are totally different as night and day. The wonderful experiences and play which you enjoy with a two week holiday is totally different from setting up a business. So the advice is after your holiday, go back again for a visit and this time not for party or play, it should be strictly business research. We advice spending a minimum of  3week to 2months , make repetitive visit, but not for holiday just for research and understanding the laws, custom and ways of the people. Taking into consideration how they operate, trust level, how much they will normally pay for a service that you want to provide. Also bear in mind, within this period your trust level for business will also grow rapidly, which aids you in build contacts and networking. So time and timing is key


CAPITAL
Now although this is not a lecture on how to manage your funds, but hey let’s give it a shot. Just a suggestion when you make regular trips back to Africa to set up a business. Remember that the reason for this visit is strictly business, and not pleasure. Be careful that you don’t start charitable giving when that’s not the business you intend to venture to.


NOTE: We are in support of charity works and giving to charity, this is just to suggest that you have to be able to distinguish between both.

All I am saying is KEEP YOUR MONEY, because at this very moment you really do need every penny you can save, and frankly the success of your business depends on the overhead capital at your disposal at least to sustain the business until the business start yielding returns.

So in simple words don’t start spending excessive money on hotels when you can just live with a close family or friend who is well off and will not make excessive demands on your finance, and also understand the purpose for your visit. You will save yourself from unnecessary expenses by doing this. And before you pay anyone for anything, be sure to research and find out if they have a good reputation in business.


POLITICAL CLIMATE
Well if your business is going to be established in a country, it is absolutely necessary that you understand the political climate of the country as this can also determine the success of your business long term, unless you’re business profits from conflict and wars and this will not be a good business as it does not improve the lives of the citizens. So yes keep yourself updated with the news.


KNOWING YOU MARKET (pricing and your niche)
Now having passed all the other bumps, perhaps this is one factor that decides the faith of the business so quickly that, it may result to failure or success. Like the guest on our show rightly stated, there is no point selling a product that is meant for the high end consumers (with more money to burn) to the low end and vice versa. The result of this practice is damaging to a business especially in Africa and is something that everyone looking to set up a successful business in Africa need to understand. This is the reason for your market research, you know which part of a state will be more interested in your service and will be willing to pay for the service they receive from your business.

Also you look at the pricing, how the people will react to you pricing, and If it is an amount they are used to paying, perhaps it may just be a ridiculous pricing high or low.



HAVING AN INSIDER
Now we all know that in business no one person can effectively run a business alone, without having a need for, the assistance of another. And this is reason for this insider. It is a well know fact that before any country can be sure of success in a war, part of their preparation and planning will involve sending out spies to gather intelligence about the other country and the result of the intelligence gathering can to great extent determine the defeat or victory in war. So this same principle applies to setting up a business. You should ally yourself with one or more people who reside in that country and are willing to offer their assistance (your eyes on the streets) and that you know and trust them.

As this person or people will understand the business mode in that country and can tell you which way is up or down and such information is invaluable.



POWER & INFRASTRUTURE (electricity, road)
As a fact we all can admit that in most part of Africa power and infrastructure can be a factor that can hinder or affect a business, especially new businesses and with this in mind, it is key that any person looking to set up a business in Africa take this very serious. Look for ways to run your business with this in mind. Perhaps this is also an untapped part of the economy that entrepreneurs will like to venture into. And for those that their capital is not enough to execute this project, provision have to be made for this. Because the transportation of goods and services, and manufacturing of products in this age of science, where almost all machinery in use, needs electricity in other to work, this factors play a key role and cannot be underestimated.


BUDGET CONTROL
In the paragraphs above mention have been made about watching your expenses and this simply means that as a new business, it is important you sort for cost effective ways of executing the business and this can be directly related to your own personal expenses and life style during the building of the business. Make personal savings that will serve as a backup for this business and also expect the unexpected through financial provisions, because in the real world as we know it, things sometimes do not always go as planned. So you as the CEO of this new company, have that in mind and provide for that when drawing your business plans.



BACKUP PLAN (PLAN B)
To ensure the success of your business, you must have a Plan B down to Z and also worse case scenarios, remember the success of this business is your chief aim and it is more important to you than anyone else and it is your money, time and effort on the line so take the time to plan and prepare yourself for the unexpected and we wish you success in YOUR BUSINESS.


Oh, and remember

“Heights by great men reached and kept were not obtained by sudden flight but, while their companions slept, they were toiling upward in the night. “
Henry Wadsworth Longfellow



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