Unlocking Your African Business's Potential: Lessons from Jeff Bezos' Day 1 Concept

I recently listened to a podcast with Jeff Bezos where he talked about the Day 1 Concept. As an African business owner, this really addressed many of the challenges I face. If you are an African entrepreneur, current or aspiring, let me break down the Day 1 concept:

In 2016, Jeff Bezos wrote a letter to shareholders where he outlined a philosophy he called “Day 1 and “Day 2” in the context of building a company. Jeff says that Day 1 is driven by customer obsession, a skeptical view of proxies, the eager adoption of external trends, and high-velocity decision-making. Day 2, however, is stasis, followed by irrelevance, followed by excruciating, painful decline, followed by death.

Now, Day 1:

1. Customer Obsession - In Africa's rapidly evolving markets, being attuned to local customer needs can set your business apart. Customers may not always articulate what they want, but by understanding and anticipating their needs, African entrepreneurs can innovate and offer solutions that resonate deeply within their communities.

2. Resist Proxies – A proxy is something outside what should be your main focus. A common example of a proxy is ‘process.’ If you’re not watchful, you stop looking at outcomes and just make sure you’re doing the ‘process’ right. Many times, an employee will defend a bad outcome with, “But we followed the process,” but a good leader should pause, investigate, and improve the process.

3. Embrace External Trends - Africa is witnessing a surge in technological adoption, with trends like mobile technology, fintech, and AI transforming industries. Entrepreneurs who embrace these trends can harness them as catalysts for growth, driving innovation and staying ahead in an increasingly competitive landscape.

4. High-Velocity Decision-Making – The African business environment is dynamic and often unpredictable. Making swift decisions, even with limited information, can be crucial for seizing opportunities and navigating challenges. The ability to act quickly and adapt is often more valuable than waiting for complete certainty, especially in fast-moving markets. These decisions become even easier to make when you have experts with you. Let me introduce you to entrepreneurial experts I have great faith in— 54 Collective .

This African-centered Venture Capital firm works with founders to provide equity or non-dilutive capital, expertise, and networks necessary for businesses to scale—especially for women founders, like myself, who receive funding at a lower interest rate. 54 Collective helps all you founders identify and act on opportunities for scalable commercial success while creating a positive social impact. Click here to learn how 54 Collective can help you scale your business.