What is the secret of success in business? During
Africa Economy week, BBC News asked entrepreneurs across the continent to give
us their “top tips”. (Source IT News)
GAULPHINE NYIRENDA, BOOKSELLER, MALAWI
My secret is hard work.
Being honest with my customers, telling them
the truth, honouring my bills, and knowing what is the customer’s need in the
area.
Now, I not only run a book shop, I also supply
women’s book clubs, and I’m an agent for major UK academic publishing houses.
What is the secret of success in business? During
Africa Economy week, BBC News asked entrepreneurs across the continent to give
us their “top tips”. (Source IT News)
ELISE BATES-WILLIAMS, HAIR STYLIST, NIGERIA
You don’t need to save a huge amount before you
start your business.
You can begin working from your house, or even
under a tree.
We started with a small amount - buying two or
three dryers, chairs and other equipment a customer might need.
What is the secret of success in business? During
Africa Economy week, BBC News asked entrepreneurs across the continent to give
us their “top tips”. (Source IT News)
What is the secret of success in business? During
Africa Economy week, BBC News asked entrepreneurs across the continent to give
us their “top tips”. (Source IT News)
FRANCIS OGHUMA, ENTERTAINMENT PROMOTER, NIGERIA
Nigeria is driven by nepotism. But you have to hang in there.
When you have the right product and you wait
long enough, the rainy day will come.
Also, putting in the street style works well
for me. Formal training can help. But businesses are
driven by passion and innovation. Even if I’d been to the best business schools,
my business would still be driven by my goals.
ENTREPRENEUR AND star of TV show Dragons' Den, James
Caan, has been appointed co-chair of the Government's Ethnic Minorities
Business Task Force.
The task force will form strategy to
assist ethnic minority-owned businesses across the UK, and is the country's most
influential team working on behalf of ethnic minorities in the business arena. Caan,
who made his name and fortune in the recruitment industry, before moving into
private equity, says ethnic minority businesses of all sizes can contribute a
whooping £30-£40 billion to the UK economy each year.
In these credit crunch times- it is
one of the key areas of the economy that's actually growing. "There could
be as many as 100,000 new BME [black and minority ethnic] businesses created
over the next 12 months alone, and part of the task force's job will be to
make' sure Government support is communicated to the right people in the right
way, encouraging these entrepreneurs as well as signposting very practical
Government packages that are in' place to help them," he explained.
DELIGHTED
Caan, who has first-hand experience
of ethnic minority businesses, says he is delighted to take the role and feels
he is the right person for the job. "This particular task force is focused
on BME businesses, and that's where I'll be offering my insight and experience.
It's an area I have a close knowledge of and one that's close to my
heart," he said.
The entrepreneur will be reporting
his findings to business secretary Lord Peter Mandelson, who says he hopes the
appointment of Caan will help remove barriers for ethnic minority business
owners. "It's more important than ever that we create an environment where
anyone with ambition, passion and a good idea, no matter what their background,
can succeed," he said.
Entrepreneur Laban
Roomes tells how going for gold paid off
By Janelle Oswald (Source: The Voice Feb 2009)
North LONDON-based entrepreneur Laban Roomes is celebrating after
winning a contract to design exclusive iPods for superstar Sir Elton John.
The
39-year-old founder of gold-plating company Goldgenie has signed a deal with
Sir Elton to design 900 Swarovski encrusted iPod Nanos, each with the star's
signature laser engraved on the back. The special iPods will be sold,
exclusively at Selfridges or directly from goldgenie.com.
"I'm
completely over the moon. At last all my hard work and commitment to my
business is paying off," Roomes told The Voice. Roomes' company
applies genuine 24-carat gold, silver, platinum, nickel and chrome to metallic
items.
MACHINE
The company developed a unique portable gold-plating
machine, which quickly allowed Roomes to establish a successful niche market in
the automobile industry gold plating car emblems for Lexus, Honda, and Toyota
dealerships across the UK.' Roomes then moved on to gold-plating items like jewellery,
golf clubs, and Nokia mobile phones, along with a variety of household objects,
including bath taps and fittings.
However,
it was not until he was invited to Hollywood to distribute over 50 gold-plated
mobile phones at the Emmy Awards to top stars that Roomes realised he needed a
cash injection to help develop his business further.
BACKING
After
appearing on the BBCs Dragons' Den in 2007, Roomes managed to secure
financial backing from entrepreneur James Caan. He was given £60,000 to take
his business to the next level. "I'd had the chance to go into the Den
twice before, but had lost my nerve both times at the last minute. It's an incredibly
daunting experience, and watching the programme on TV just can't prepare you
for how intense the pressure is in there.
NERVOUS
"Although
I was completely, nervous and messed up a few times, I managed to pull through.”I
was attracting interest, but within" no time at all, the 'Dragons'
declared themselves out one-by-one until only James Caan remained.“ To my
amazement, he said that he would give me the investment I needed to take my
business to the next level. "
"Since
appearing on Dragon's Den, my business has catapulted and I now have
exclusive deals with Harrods, Selfridges and HMV; where I designed gold-plated iPods,"
Roomes said. He has .been working on the iPod deal with Elton John for the past
six months. "Originally, I designed 12 iPods for him to auction at his
famous White Tie and Tiara (PWW), which wept down a storm.
"Denzel
Washington and Will Smith got word and placed an order, which I sold for £30,000
each, so l decided to strike a long-term deal with Elton because of the growing
demand, "the entrepreneur said.
LAUGHING
Roomes,
a father who has been married for seven years, is laughing now, but he didn't
always have the. Midas touch. Before hitting the jackpot, he would often travel
by foot to promote his business.
"Determination
is vital if you want success. You must keep focus. It's easy for others to look
at me now and say 'wow', but back in the days when I first started promoting
Goldgenie, nobody wanted to know. I used to walk to each shop one-by-one
because I did not have a car. It was extremely difficult, especially when I had
to carry the Goldgenie machine on my back.'
"But
God is good because look at me know. I'm making deal with Sir Elton John.” Money
from each iPod sold will go to Elton John’s Aids Foundation (EJAF), which was
set up in 1993 to help those living with, affected by, or at risk from HIV/Aids.
"I
am also extremely happy and proud that the iPods will raise money for those
suffering from HIV and Aids. Knowing that Aids is one of the world's biggest
killers, I am happy to be a part of the
fighting solution," said Roomes.
The
iPod Nanos will come in a variety of colours - black, blue, green, orange,
pink, purpIe, red, silver and yellow - and will have over 250 colour-coordinated
Swarovski crystals. "If you are buying for yourself or a loved one, we are
certain that you will be absolutely delighted with these fabulous Starburst iPods,"
said Roomes.
Libya's wireless
web access leap (Source: BBC News)
WiMax does not rely on sometimes
poor conventional wire infrastructure
Libya's only
internet service provider is launching its first commercial wireless network
which it says is one of the most advanced in the world. The state-owned firm
said only a handful of countries have rolled out the advanced internet
connection known as WiMax on such a wide scale.
Libya Telecom and Technology aims to
start with WiMax coverage, including a mobile feature, in 18 cities. Africa is seen as
a potentially huge market for WiMax technology.
The network is meant to be cost
effective in the long run and does not depend on often poor conventional wire
infrastructure. Anyone with a simple USB device
which can be plugged into a laptop can connect to the internet within 50km (30
miles) of any WiMax tower.
The BBC's Rana
Jawad in Tripoli says six
years ago most Libyans depended on internet cafes to connect to the web, but
technology has moved a long way since then. The new WiMax network, which has a
capacity for 300,000 subscribers, will begin taking on business clients from
next week and individual customers the week after.
Massive pressure
Our correspondent adds that other
African countries like the Democratic Republic of Congo and Nigeria also have
WiMax networks, but their coverage is more fixed and limited. There are an
estimated 51,000 broadband subscribers in Libya and some
170,000 still depend on the much slower dial-up internet.
Both of these connections need a
fixed phone-line, a service that has come under massive pressure in recent
years because the available infrastructure is outdated and limited in coverage.
As well as rural areas cut off from modern technology, new housing - even in
the capital Tripoli - is being built in areas with poor land-line
infrastructure, says our correspondent.
The WiMax network is meant to do
away with all these hurdles and bridge the digital divide, making the internet
available to people across the country. Libya Telecom and Technology said the
new service would cost $30 (£21) per month - twice the existing cost of
broadband - although prices are expected to drop in the long-run.
But our correspondent says it will
be difficult for the average Libyan to afford the initial cost of the new WiMax
service. It requires a one-year advance payment of around $400 (£290),
including the cost of a USB device.
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