ONE of the many terms Silicon Valley has bequeathed to the business world is “serial entrepreneur”, a label for those restless souls who start one business after another. Perhaps Africa can now contribute another expression: the “parallel entrepreneur”. More than in any other part of the developing world, the continent’s budding business folk create networks of several firms across a number of different sectors of the economy, according to research by IMANI, a think-tank based in Ghana.
The 189 successful entrepreneurs it surveyed in Ghana, Nigeria and Kenya own, on average, six businesses each. One boasted more than 60. What explains this entrepreneurial hyperactivity?
Very few teams asking for money via Kickstarter have extensive, or even moderate, knowledge of business, taxes, or organizing the game development process in the long term.
It’s also easy to underestimate the financial and time investment the bonus structure requires. “We just didn’t fully appreciate the cost of printing 200 posters, shirts, and more than anything shipping. Shipping is a) expensive b) a pain in the ass when you have tubes and c) time consuming,” the Star Command team stated. “None of those things are productive. We don’t resent having sent that stuff off; we think the posters and shirts are awesome and we are super proud of them and it seems like everyone loved them, so that’s great. But they were a lot of work.”