Tuesday, June 19, 2012

You Failed, Or Did You?

Now, when many young people think about becoming an entrepreneur out of the country, especially Africa, they instantly picture themselves broke, homeless and hungry; huddled up at the steps of the nearest American embassy hoping to get a ticket back home. And although this may be a possibility, there are also a lot of great things that can happen to you even if you fail.

1. You gain international experience. How many times have you gone to apply for a plush overseas job and realized your chances of getting it were nil since you never lived out of the country?  Taking the bull by its horns and creating your own opportunity on-ground will not only show a future employer that you welcome challenges, but that you are also familiar with the terrain, and that my friend, in this global world is priceless.

2. You get an opportunity to revise your plan. If you start your own business in Africa and fail, at least you have an opportunity to go home and revamp your strategy. It may also give you an ideal time to find investors for your project. People like to give money to someone who knows what they are doing, and with a good business plan and your former experience of living abroad, people may acutally think you know what you are doing.

3. You get to wait out the recession. So, you come to Africa, start a  business and it goes under in two years or less.  If nothing else, maybe by the time you return the economy in the States would have bounced back. Yeah, I doubt it too, but if nothing else at least your jobs propects have improved. Refer to number one.

So in the end, yes, you may fail. Yes, if you didn't plan properly or chose the right investment you may have to go back home. But in the end you get another notch on your belt and what entrepereneur doesn't need that?

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