In an ever-evolving global economy, building a resilient business requires a commitment to long-term strategy, adaptability, and sustainable growth. At the recent ABH semi-finals in Cairo, entrepreneurs and business leaders from the ABH community held a panel discussion on creating enduring businesses. The panel featured Kareem Yassin, Vice President & General Manager of Procter & Gamble; Khadija Elbedweihy, CEO & Founder of PraxiLabs; Nour Ahmadein, Co-founder of BluWorks; and Tesh Mbaabu, CEO & Co-founder of Chpter, moderated by Zahra Boateng, Managing Director of Africa’s Business Heroes. They shared insights drawn from their entrepreneurial journeys. Below are key recommendations for building future-proof businesses offered by the panelists.

1. Adaptability and Resilience in Business Models:
   A common saying at Africa’s Business Heroes is, “change is the only constant.” No entrepreneur can be fully prepared for the unknown, so adaptability and the willingness to adjust one’s business model are essential. Khadija from PraxiLabs shared how her company quickly shifted its focus during the COVID-19 pandemic, transitioning from a business-to-business model to a business-to-consumer approach. By offering free access to their virtual lab platform, PraxiLabs attracted hundreds of thousands of students globally, addressing immediate educational needs and positioning itself as a recognized resource within the academic community. Nour, founder of BluWorks, emphasized the importance of resilience in navigating the evolving venture capital landscape, while Kareem noted that successful entrepreneurs exhibit self-drive and learning agility—traits essential for overcoming challenges and thriving in uncertain environments.
2. Strategic Hiring and Building a Solid Company Culture:
   Nour stressed the significance of rigorous hiring processes and effective onboarding in successful organizations, citing companies like Uber and Stripe. These global tech firms prioritize hiring top talent while fostering a culture that empowers employees to solve problems independently, avoiding micromanagement. Additionally, having a clear and adaptable roadmap is crucial for aligning team ambitions and ensuring cohesive efforts toward common goals, especially in the fast-paced startup environment.
3. Embracing Failure as a Learning Opportunity:
   The difference between good and great entrepreneurs is how quickly they respond to failure, learn, and adapt. Internalizing company failures as personal failures can hinder entrepreneurs, particularly in cultures where separation between the two is rare. Tesh, a former founder of Marketforce, shared his experience with the e-commerce platform that raised $40 million in Series A funding and expanded into new markets but ultimately closed. He encouraged entrepreneurs to practice introspection and recognize external factors contributing to challenges, stating, “Every dollar you raise is a gift.” This perspective fosters resilience and promotes a growth mindset.
4. Importance of Diversity and Inclusion:
   Kareem discussed how diversity fosters innovation and creativity within teams. He emphasized that gender diversity, particularly in leadership roles, brings varied perspectives and problem-solving approaches. Incorporating this diversity into entrepreneurial ventures cultivates collaboration and complementary skills. Khadija highlighted the strengths of female founders, such as emotional intelligence and the ability to balance multiple responsibilities, encouraging women to embrace their identities confidently, as their perspectives enrich the entrepreneurial landscape and contribute to a more inclusive environment.
   
   
   
   Image: 2024 ABH Semi-Final Networking and Training Session - Building a Futureproof Business
5. Sustainable Growth Over Rapid Expansion:
   Khadija advocated for a strategic shift toward sustainable growth, emphasizing revenue generation over reliance on external funding. She stated, “Revenues are the best funding you can get,” illustrating how self-funding enables better financial decisions and control over businesses. This customer-centric approach ensures startups maintain cash flow while developing products that meet market demands effectively. Although this may be unpopular in a world that encourages external fundraising as a rite of passage, Tesh supported this idea, urging entrepreneurs to prioritize customer revenue as a fundamental part of their economic model, safeguarding against over-dependence on fundraising and fostering resilience amid market fluctuations.

The insights shared during this panel discussion underscore the importance of adaptability, diversity, and a customer-centric approach in today’s entrepreneurial landscape. As businesses navigate challenges and seize opportunities, embracing these principles can lead to sustainable growth and innovation, ultimately shaping a brighter future for entrepreneurs in the region.

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