Likhwa Tech

"If you were in the States, you'd be far by now" my cousin quipped. At that time I must admit I slightly disagreed. I just thought it wasn't yet my time. Deep in my mind, I hold this belief that when you are truly good at what you do, roads will be built to where you are... regardless if ' where you are ' is in the middle of nowhere. However, I recently stumbled on an article which said over 80% of companies which received venture funding in Africa were owned mainly by non-Africans. The bulk of the remaining 20% were owned by Africans living outside the continent. Not too sure what that implies, but I found it somewhat of great concern. Then yesterday I read another article on Crunchbase , which gave a rundown of stats on tech unicorns since as far back as 2012. For those who might not be aware- i n business, a  unicorn  is a privately held  startup company   valued  at over $1 billion. Since 2012, close to 1000 companies have achieved that status. In total,

According to   statistics , about 56% of start-ups survive beyond their 4th year. Only a handful make it past the 10 year mark. If you have ever tried to start a business , then I am sure you agree that it's not a walk in the park.  Whilst the world of business might seem highly competitive and fairly hostile, some of this failure can be attributed to the start-ups themselves.  There are numerous factors that result in business failure but the common ones are: Product does not satisfy customer needs This often results from a failure by the founders of small businesses to carry out thorough research. Many small business owners do not actively go out to find out what their customers really need . I've been there a couple of times: caught up in my own hype. Just because an idea sounds great to you, does not always make it worth pursuing. Talk to real people and find out if they would be willing to pray for your innovation. Extensive market Research might seem costly and unnecessar