For many entrepreneurs, especially those navigating the dynamic Rwandan market, this year has been both a learning experience and a reminder that success rarely comes without a few bumps along the way.
Whether you’re starting a business or scaling an existing one, here are some key lessons learned from young entrepreneurs.
- Adaptability is everything
Anyone who tells you business is a straight path clearly hasn’t been paying attention. In Rwanda, where the business environment is evolving rapidly, flexibility has been the name of the game. Adapting to changes—whether it’s new regulations, market shifts, or customer needs—is crucial.
As Sarah Mbabazi, a young entrepreneur behind the local sustainable fashion brand “Beneza Wear,” says, “The market changes faster than your Instagram feed, and if you don’t adapt, you’ll get left behind.” Sarah learned this firsthand when her business was hit by a supply chain disruption earlier this year. Instead of sticking to her original plan, she pivoted to sourcing locally and creating more eco-friendly products, a decision that not only helped her business survive but thrive.
- Networking is key—but it’s not just about who you know, it’s about who knows you
Networking is one of those pieces of advice that gets tossed around a lot, but it really can make or break a business. In Rwanda, where community and relationships are at the heart of the economy, being visible and building trust within your network can lead to great opportunities.
Terry Uwamahoro, the founder of a tech startup that creates digital solutions for small businesses, learned this lesson early. “You can’t do it alone. Your network is your safety net,” she explains. “When I started, I thought I could just build a website and people would come. But the truth is, it was the relationships I built with others in my industry that helped me grow.” Whether it’s through networking events, business conferences, or even social media, building a strong network is essential. If no one knows who you are, it’s hard to make sales or gain partnerships.
- Cash flow is the real boss
Business is not just about having a great idea or a snazzy logo; at the end of the day, it’s about cash flow. Too many entrepreneurs get caught up in the excitement of their product or service, but cash flow is the lifeblood of any business. If the money isn’t coming in or going out as it should, even the most innovative venture will struggle.
Jean-Claude Niyonsenga, who does food delivery, learned this lesson when his initial cash flow projections were wildly off. “I thought if I made more deliveries, the profits would come naturally,” he admits. “But I quickly realized that without understanding my financials and planning better for expenses, I was running on empty.” Niyonsenga now uses software to track his cash flow and has made it a priority to reinvest profits wisely, ensuring the long-term health of his business.
- Don’t fear failure—embrace It
Failure isn’t just an option in business, it’s a teacher. In Rwanda, where the entrepreneurial ecosystem is still evolving, many young business owners have encountered setbacks. But instead of crumbling, they’ve used these experiences as stepping stones to success.
Alexis Uwera, who launched a mobile car wash service earlier this year, was devastated when his first location failed. “I thought I had it all figured out. But when things didn’t work out as planned, I had to pause and ask myself what went wrong,” Alexis reflects. “It turned out that I hadn’t taken enough time to understand my target market and their habits. The second time around, I focused more on my customers, and that made all the difference.”
- Innovation and creativity can be your differentiators
In Rwanda’s growing business scene, there’s no shortage of competition. So how do you stand out? Through innovation and creativity. Many young entrepreneurs are learning that offering something unique can give them an edge in a crowded market.
Take Claudine Mukamana, who runs a local bakery. “At first, I thought I just needed to bake great bread,” she says. “But I quickly realized that people want more than just bread—they want an experience. So I started offering personalized cakes and themed pastries. Now, I have customers coming from all over Kigali just for that special touch.”
Claudine’s story is a reminder that being different, offering something unique, and thinking outside the box are powerful tools in today’s competitive market.
- Invest in your team
Finally, one of the most significant lessons learned this year is that a business is only as strong as its team. Building a solid team can be a game-changer, and as a leader, it’s crucial to foster a culture of growth, transparency, and mutual respect.
As Cynthia Niyigena, a young entrepreneur in the hospitality industry, explains, “I used to think that I had to do everything myself. But once I started trusting my team and giving them more responsibility, I realized how much better the business did.”
Building a cohesive, motivated team is an investment that pays off in the long run. After all, your employees are the ones who carry out your vision.
