Learn about Blue Ocean Strategies.
Ironically one of the only parts of my degree that I actually retained, and use frequently. A blue ocean business strategy is one that is original and thereby ensures the water is blue. A red ocean business strategy is one that has been done before, so many times the water has been stained red by the blood of people fighting over scraps. If you're planning on doing business in a country where you could blindfold yourself and throw a stick and you'd hit something that either has no competition, or the competition is so incompetent the threat they pose is laughable. For instance, at present, there is no viable, established recycling system in place within Zambia. Yep, just landfills. I wonder how much money is there to be made by setting up glass cullet, plastic bottle, paper and other forms of recycling?? Surely all you foreign NGOs who love flushing money down the African toilet would rather invest in an African opening said plants? Anyway, I feel business opportunities should be another topic altogether.
Do things correctly.
Now that may seem fairly obvious but it's actually not. Until you've lived here a while, and realised the immensity of the cultural, educational and developmental challenges that are posed doing business in Africa, you have no idea how hard it is. Example, every single chef in my restaurant had never cooked a Western dish in their lives before. They were a bunch of hardworking lads and ladies, but half didn't finish high school (and you should see the sick joke that is government education in Zambia). I had to take them from the construction site after we finished, into the kitchen, and from boiled eggs in October to consomme and deboning quail today, we created chefs. Make sure your plan either requires very little human interaction (such as a recycling plant) or where it does you are able to provide first hand guidance the vast majority of the time. That's not to say it can't be done, but...it's a long hard slog right there.
Plan ahead... way ahead.
In one week you will have a massive power surge that blows up your fridges, two members of staff won't report for shift (or call), your suppliers will arrive a day late and someone will call with a catering order to be done within three hours for 80 people. Your generator will break due to the sediment that is found in the low octane / high sulfur diesel we have to use and you'll experience a 16 hour power cut in which your supplier will state is 'due to unforseen maintenance problems'. In order to be successful in Africa you have to be able to roll with the punches, keep positive, relish a challenge, and most importantly not own a weapon :P.
Find a fixer.
Nah man, I don't mean a handyman (also that's the new look Bob the Builder....creepy...). Trust me on this. If the government says your license will come through in 14 days, it will take 14 weeks. If you're told you need document A, B and C, just know when you get there you will also have need D, E, F, G, H, I, J and K... only they didn't tell you that, you'll go in circles for weeks. Applying for a government contract? Fine, hope you have a suitcase full of cash for the money required to implore the official to stick your application on the official pile and not in a trash can! So what you need is a fixer, he's usually a former cop, government employee, or wealthy bribeartist. He will shake the right hands, tell the correct jokes, provide the favourite whiskies and whisk you through the bureaucratic nightmare that is the corrupt developing world. Also you can bet your bollocks to a barndance you aren't getting a permit unless you have a bank account sitting pretty on $100,000 for investment, or you have a fixer.
Again, this is all part of the fun! It's why we're all here, if you can make a success of yourself in Africa, then "Yours is the Earth and everything in it. And - which is more - you'll be a man my son!". Please don't take my posts as doom and gloom, we're actually an awfully fun bunch over here, like the Brits and weather, we just love bitching about the corruption ;)