Our Skills Enhancement Workshop,Seminars and Conference for youth in Africa have reached hundreds of youth in our over three years of operation.
Date: 3rd-5th November,2011
Theme: “Towards A New Africa; The Role of the African Youth”
Main Talking Points:
- The role of the African Diaspora
- African Development: Challenges and success in attaining the MDG Goals
- African security issues of child armament
Main Conference Venue: African Regent Hotel Accra – Ghana
On November 4, 2011, youth delegates of PALC2011 met with Ambassadors and High Commissioners of various African countries and the Diaspora in their High Commissions and Embassies in Accra, Ghana; were they interacted on various issues on the African continent bordering on the theme. Other delegates had educational discussions and exposure at Kofi Annan International Peace Keeping Centre, and the W.E.B Dubois Centre ahead of the actual conference.
In the bid to help support the attainment of the MDG Goal 2 (universal primary education) as well as help avert the influx of unemployable youth in the country, ABN with the support of Council on International Education Exchange (CIEE), Ghana Book Trust and other organizations and other stake holders attempts at dealing with the major challenges which impede the pupils and student in rural communities from pursuing further education; a problem which has largely been attributed by the Ghana Education Service to the lack of effective motivation for students as well as inadequate teaching and learning materials. Through this project we provide a facility for SAVIOUR D/A PRIMARY SCHOOL, OSEIM -AKIM E/R GHANA; realizing that such a good school in the district had no Library facility.
- Female entrepreneurs in Ghana break the chains of poor education | Afua Hirsch (guardian.co.uk)
- Ghana Education Service orders teachers to stop using cellular phones in classrooms (ghanabusinessnews.com)
#AskABNLive is a live entrepreneurship discussion for young and aspiring entrepreneurs. It is an initiative of ABN Unite. A Guest Star Entrepreneur (an experienced and successful entrepreneur) answers questions from young and aspiring entrepreneurs either via the hastag #AskABNLive on social media or direct face – to – face interaction .
On April 26, 2016 at MPR, US Embassy, Accra, #AskABNlive will meet with a seasoned U.S based Owner of Omanhene Cocoa Bean Company, Steven Wallace to discuss issues pertaining to Facing New Frontiers in Entrepreneurship, Digital Marketng, Social Media Tools, etc.
The Omanhene Cocoa Bean Company is producing world class chocolate entirely in Ghana using beans The Financial Times calls “the finest cocoa in the world.”
A young entrepreneur might run across a lot of articles offering advice for the new business owner. But how many articles are actually geared toward the young entrepreneur?
As a former young entrepreneur myself (now I’m 30), I’ve decided to share my insights from my past experiences — all the types of things that I wish someone had passed on to me when I was first starting out.
1. Do what you love.
When I graduated from college I worked at a job that I didn’t like because it paid me well. I hated to go into work each day. I admit that entrepreneurs typically make the worst employees because they want to be out there growing their own enterprise. Figure out what you love and then become the best that there is at it.
Your passion for your product or service will keep you motivated and get you through the tough times. Yes, there will be challenging moments. But when you work on something that you actually care about (as opposed to just trying to make a quick buck), you’ll probably be happy, have direction and fight as hard as you can to make this crazy idea of yours become a reality.
2. Stay focused.
It’s awfully tempting to jump from project to project, especially when it seems as if a million opportunities are flying by. But don’t become distracted from the big picture. Instead of working on multiple projects, stay on track and complete the task at hand. If you’re working on multiple projects, you can spread yourself too thin, which will have an effect on your performance, productivity and resources. Perfect that one thing instead of working on five so-so projects.
3. Exploit online resources.
The Internet is a gold mine of resources. For example, visit the site of the U.S. Small Business Administration for advice about writing business plans, legal considerations, loans and even local resources to help you get that startup off the ground. Other awesome online resources are the websites of SCORE, America’s Small Business Development Center, Bplans, VentureBeat and, of course, Entrepreneur.com.
4. Find a mentor.
Whether you turn to a local entrepreneur, a business leader or a weathered vet that you meet through LinkedIn, having a mentor is one of the best resources you can have. Not only might a mentor have experience (such as dealing with venture capitalists), he or she also could possess an extensive network and help you connect with the right people to make your startup a success.
Don’t be afraid to cold call or email a big name in the industry. Many of these big names like to help younger entrepreneurs as a way of giving back. I met my mentor when I was 12. He was the owner of a large carpet store. I was his paper boy. I delivered his paper in the perfect location every day for three months till one day I saw him. I asked him straight up, Will you be my mentor? He said yes. He’s still a mentor to me today along with many other people.
5. Take care of yourself.
I was a young go-getter once. (At age 12 I started my first candy stand and had three at one point.) I know exactly how it is: You think that you’re invincible. Here’s the breaking news: You’re not.
As an entrepreneur, you might find it easy to push aside healthy lifestyle essentials, such as getting exercise, eating a balanced diet and securing enough sleep. But what good will you be if you’re tired or your immune system if weak? Plus, exercise is a great way to relieve some stress.
Don’t forget to make time for yourself. You need to take a break from work or you might burn yourself out. I personally love to listen to books and have since I was a kid. I’m not very good at reading as I have attention deficit hyperactivity disorder so I listen to books. Find what works for you!
6. Define your market.
Failing to define the market is a common mistake of a lot of young entrepreneurs. Always remember to consider if your business plan makes sense for your market. If you’re dreaming up a late-pizza delivery service, do you start it in a business district or a college town? There are a number of ways for you to try to define your market, such as by demographics or psychological factors.
I always hear people in the fashion industry tell me that their world is a $1.2 trillion market. Technically they may be correct. But if your product is hipster pants, the market isn’t $1.2 trillion. How many hipsters are there in the world? How many of them would purchase your product on a yearly basis?
7. Be able to explain your business at a whim.
You never know when you’ll have to explain your business. You could run into an investor in an elevator or end up making a sales pitch to a customer while out to eat. Always be ready to clearly and quickly state your mission, service and product or goals.
This is something I learned from Derek Anderson, the founder of Startup Grind, which hosts events for entrepreneurs. He took me to lunch about three years ago and asked me what I did and the business I was promoting. I really didn’t know how to answer. Since then I have refined my pitch so that when someone asks me what I do, I can tell them in five words or less. Practice your 5-second, 15-second and 1-minute pitch over and over. This will help you be able to explain your business to anyone out there in any situation.
8. Remember, you run a startup.
Just because you secured some funding that doesn’t give you the right to act like you’re a rock star. A luxury home, an office with an actual shark tank or a really fast car are all just a big waste of money, especially in the beginning. Remember, you run a little-known startup (and you’re not Richard Branson overseeing a large successful company). Be careful about managing your cash flow and make sure that you keep track of expenses. That’s not being cheap. It’s being wise. You don’t want to burn through all your cash too early.
9. There are still rules.
A major perk that comes with being an entrepreneur is that you’re the boss. You can make your own hours and develop your vision of a company. In short, you’re doing whatever you want. And it’s awesome. But there are some rules that all entrpereneurs have to follow like registering your business and paying taxes. These are just some of the not-so-much fun things you have to handle. If not, you’re going to be in just a little bit of trouble.
10. Know when to fold ’em.
Sure, I’ve had success running and selling several different companies, but do you know how many I’ve started and stopped because they weren’t taking off? Tons. Some say 9 out of every 10 business fail within the first couple years.
Don’t let your pride get in the way of closing your company. I learned this the hard way in college when I launched what became my first failure, Utefan. I knew that what I was doing wasn’t going to work or make money. I kept putting money into it and spending time on it. Eventually I had to give up my pride and stop. Know when to let go.
If you’re not familiar with the classic Kenny Rogers song “The Gambler,” then stop what you’re doing and check it out. It offers some of the best advice ever. Why? Just like any great gambler, you have to know when to fold ’em. Instead of continuing to work on a fledgling business, it’s best to walk away and reflect on what went wrong. It’s not going to be easy. But it’s inevitable. And you’ll take that lesson with on your next venture.
See more pictures here: https://www.facebook.com/pages/Africa-Business-Network-ABN/499668633461764?sk=photos_stream
Africa Business Network (ABN) continues to spearhead the role of building capacities of business start-ups and aspiring entrepreneurs in Africa. With their aim of promoting entrepreneurship in Africa, the NGO through its yearlong training sessions continue to assist young and aspiring entrepreneurs and SMEs. Start-ups and aspiring entrepreneurs are trained in areas of Business Building, Business Management, Access to Capital and Funding, Access to Modern Technology and Access to Market. These training programs are made possible with the support of volunteers worldwide and local partners.
Africa Business Network (ABN) is a registered non-governmental organization with the aim of promoting entrepreneurship in Africa. Headquartered in the Republic of Ghana, the organization has over five years of experience in capacity building for youth, in various African countries. It provides human resource training and capacity building to SMEs, start-ups and aspiring entrepreneurs assisting them to kick start, grow and expand their businesses.
Success has many stories – like Tonyi Senayah from Ghana, who has turned his love for shoes into a career. The entrepreneur is just one of the people representing Africa on the rise.
Tonyi Senayah is a young entrepreneur in Kumasi – the second largest city in Ghana. He founded Horseman Shoes in 2010 and the company quickly took off. In 2011 Senayah was named young entrepreneur of the year at the Global Professional Achievers Awards in Accra. Senayah and his shoe manufacturer were also given the Outstanding Product Quality award fromAfrican Leadership Magazine in 2013. His goal is to lead Horseman Shoes in becoming Africa’s largest footwear manufacturer. His company produces a popular variety of footwear all made in Africa.
Senayah has a bachelor’s degree from the University of Ghana, where he was also a student leader. In 2009 he noticed a demand for high-quality shoes and knew of a lot of young and skillful shoe makers who were looking for work. He put the two elements together and started his shoemaking business from the ground up, first buying from local manufacturers, then establishing his own workshop. Senayah says that the key to success is overcoming the fear of failure. “You have to be something extraordinary to be successful here in Africa,” he says. The next step for Horseman Shoes is the international market and the logistics are currently being prepared.
Read full story at: DW Website
Website of Horseman Shoes: http://www.horsemanshoes.com/
ABN on Thursday, April 24, ended an 8 week training session for over 25 start-ups and aspiring entrepreneurs. This training for business start-ups dubbed, the ABN Wealth Training Session was moderated by top business leaders including, Prince Adu-Afful, MD Sylprin Company Ltd and Albert Biga C.E.O Zoobashop.com. The 8 weeks training program took place in the University of Ghana to help business start-ups in areas of business building, investment and wealth creation. Participants after this training session have the opportunity for intensive placements in notable organizations to further strengthen their entrepreneurial acumen.
For a buyer or seller, determining the value of his or her website and online business is a very difficult task. The owner can try some calculations to figure out the value themselves. However when you try to figure out the value it isn’t an easy task. The questions remain, how do you find the value of an existing business?
So here are some tips on how you can successfully value and sell your website.
This method uses the sales figure as a way to value the business. There are business specific multipliers that you can use to multiply with the annual sales figure that can get you to a selling price.
Profit basis or cash flow:
In this method the sale price of the business can be found by how the business can generate a stream of cash flow or profit. Projecting the revenue over 5 years or longer a business evaluator can use this figure to find the net worth of the business. Interest rates will also be a part of this because the profits are projected.
Most buyers consider the net revenue made by the website annually plus some percentage higher than this amount. At the core of the valuation process, the seller needs to determine the net revenue of the website. To arrive at the net profit of the online business requires subtracting all the expenses incurred in the course of running the business (like hosting, marketing, banners, affiliation system, etc.) from the total revenues made.
It is recommended that this calculation is based on a 12-month period. After determining the net revenue per year, the seller may select a multiplier value. For well-established websites, the value may be between 1.5x to 3x. Suppose for example a website’s annual net revenue amounts to $50,000; a buyer may multiply with 2x and give an offer of $100,000 as the buying price for the online business. In addition there are several other issues that the buyer may consider such as any risks that the website maybe facing. In order to ascertain the risks faced by a website, a number of factors are considered such as: increasing growth, stable incomes, automated system, traffic streams and quality, diversified revenue streams.
Generally speaking, there are many different ways in which online businesses can be valued. For some businesses, the assets the websites own such as a rich customer list (database) may be appealing to potential buyers who may have innovative ways of using this asset, and therefore may value the website based on these assets. Other buyers could employ a comparable sales method to value the website or they should consider the revenues of the website and identify a multiple based on strengths and weaknesses of the website.
Here are some of the bases when pricing them:
– Sales and Profit numbers and trends
– Traffic numbers and trends
– Age of the business
– Domain name value
– Industry sector trends and outlook
– Business growth potential
– Proprietary or non-proprietary products
– Unique content
– Inventory count (if applicable)
– Advertising methods and costs
– Personnel expertise needed to operate the business
– Seller financing
– Non-compete terms
For those who think that you cannot make much money from selling websites, here is a list of websites that where successfully sold and for a large sum of value:
The Top 20 Websites That Sold
Bought by Microsoft for $6,333,000,000
Bought by Yahoo! for $5,700,000,000
Bought by Yahoo! for $3,600,000,000
Bought by Google for $1,650,000,000
5. Marketing Yahoo!
Bought by Yahoo! for $1,630,000,000
Bought by AOL for $850,000,000
7. Tell Me
Bought by Microsoft for $800,000,000
8. Club Penguin
Bought by Disney for $700,000,000
9. Right Media
Bought by Yahoo! for $680,000,000
10. Real Media 24/7
Bought by WPP for $649,000,000
Bought by Google for $625,000,000
Bought by News Corp for $580,000,000
13. Adult Friend Finder
Bought by Penthouse Media Group for $500,000,000
14. Mezi Media
Bought by ValueClick for $352,000,000
Bought by Yahoo! for $350,000,000
Bought by R.H. Donnelley for $345,000,000
17. Blue Lithium
Bought by Yahoo! for $300,000,000
Bought by Amazon for $300,000,000
19. Last FM
Bought by CBS for $280,000,000
Bought by AOL for $275,000,000
After you have determined the value of your online business, you may want to know “how can I sell my website or online business?”
It’s important to find a reputable company that is professional.
BizBroker24, an online website broker & E-Business Mergers & Acquisitions company is now ready to assist people who want to sell and buy website online.
You can contact BizBroker24 for a free valuation.
The United States government is offering an internship through the State department known as Young Africans Leadership Institute (YALI).
As of 2014 the US is taking up to 500 participants in a once in a lifetime opportunity to come to the United States and interact with business leaders and public sector leaders in the hopes that these young people will be mentored to go back and transform their own communities and come up with African solutions for African problems.
The 6 week program will involve mentoring, networking and workshops.