How To Find Business Ideas In Africa (2020) – Every Step Explained

In today’s guide, I will walk you through how to find business ideas in Africa.

If you already have a business idea in mind (that is, you already know what business you are going to start in Africa), then you are good to go.

However, if you do not already have any business in mind, of course, the first step to start a business is to find out exactly what you want to do.

You can do some brainstorming or guesswork and start anything in the name of doing business.

But wait, are you very sure you are doing the right thing? I mean, are you sure you are starting on the right footing?

If you can’t confidently answer that, then take your time and read this short guide to help you find a profitable business idea in Africa.

There are several ways to find business ideas in Africa, but to make things easier for you, here is the list of how to do that;

1. Identify your passion and turn it into business

Have you identified what you are passionate about in life or, in any case, what you really like to do?

Why not turn those passion into a real-time profitable business venture in Africa where both natural and human resources are abundant.

I mean, think of a business where you dedicate yourself to do what you are passionate about or like to do, or at least related to it.

Recommended reading: How To Start A Business In Africa.

2. Monetize your talents

Another source of great business ideas is through talent identification.

Do you have a natural endowment that makes you unique? Please don’t just let it go waste; monetize that talent.

There is a sharp contrast between passion and talent.

While talent is an inborn capability to do something, passion comes from within and is developed after birth and at any time in life.

Work persistently towards something, and that becomes your passion.

Your talent is where you stand out from others. You do not work much harder on what is your talent. You are born with it.

If you have such an inborn gift, then think of a business where you do it, or where you can take advantage of it.

3. Identify where you have extensive knowledge and experience

Knowledge is power. If you are knowledgeable in a niche, then you are a half millionaire.

Determine what you have extensive knowledge and experience, and then think of starting a profitable business venture in that regard.

Starting a business in Africa is not always about brick and mortar offices. You can start a consultancy firm. Businesses of this nature require little or no capital to start.

4. Turn people’s need into business

Have you identified an actual need in your area? Why not help them solve it and create an enterprise in the process?

There are many unsatisfied needs in various communities in Africa. It can span from the areas of education, through health to accommodation and almost everything else.

In any case, you must ensure whatever services you wish to offer actually add value to the lives of the people.

This way, you will create a sense of purpose, and the people will have value for money.

5. Identify something you could do better than others

Can you do something better than what is in existence? I can tell you that you value more than you can imagine now.

You are worth a billion dollars.

If you can do something better than what other businesses are doing, then why the wait?

Do it in a grand style. This is the time to remember the saying; if it must be done, of course, it must be done well!

Let others know there is a better alternative to what they used to know. And this means you are fully prepared for competition as other businesses may change their mode of operation.

But hey, why being afraid of competition?

You are born to win.

For example, you can study the market and identify products or services that other businesses already sell successfully, but that you could add something that differentiates yours from theirs.

And it means you must go the extra mile.

Make that product exceptional by breathing some life into it.

I mean, let the consumers crave for the goods or services you offer.

6. Look for a list of business ideas online

I will need to congratulate you for this step. As long as you are reading this post, I am satisfied that you are on the look for a list of business ideas.

Great job done!

Now, don’t end it here.

Go to directories or websites dedicated to entrepreneurship. This is where you can find lists of business ideas that you can use or take as inspiration to develop your own ideas.

As a piece of advice on this point, try to ensure that your business idea is related to what you have to do or where you stand out from others.

But above all, these ideas should be what you are passionate about, or you like to do. This will be your source of motivation to carry out your business despite all the difficulties that you will still encounter along the way.

Only then can your business stand out against the so many competitors that you will surely have.

Keep in mind that to start a business, you don’t necessarily have to start a business from scratch. You can, for example, buy a small business that is already running or acquire a franchise.

Now that you know how to find business ideas in Africa, it is time to start investing in the venture you choose.