The Sunday Mail
Entrepreneurship Matters
Dr Kudzanai Vere
THERE is need for a more practical approach to entrepreneurship than merely studying it at institutions of higher learning.
It is surprising to see entrepreneurship graduates queueing for employment and yet they are the ones who are supposed to be at the forefront in creating jobs. This speaks of how Africa and Africans in particular view entrepreneurship. This is not a topic that we merely talk about from morning until evening without going on the ground, demonstrating things.
Let us look at the acronym SYRINGE in an attempt to inject life into these important entrepreneurship issues. The acronym stands for Start; Yearn for greatness and pursue it; Running the business; Innovation; Negotiation; Grow; and Explore, as well as expand.
Start a business
Local and global economies are not built and sustained by entrepreneurship and business talk shows, articles, position papers and thesis. Over and above talking and thinking about entrepreneurship endeavours, businesses should be started.
The recipe for creating a robust economy is not churning out employment-ready graduates into the marketplace, but impacting practical competencies in them so that they can start businesses and help consume the unemployed and reduce their statistics.
Everything else is good but starting a business is a better and noble idea. It is understood that we cannot all start businesses and become renowned entrepreneurs, but why are you choosing that other easy side of it? Are you any different from others? We understand that we are all fearfully and wonderfully made for great exploits.
Yearn for greatness
Do not get into the business arena with a second-best mentality but yearn for greatness. Just be the best in your lane. Business is a jungle where the fiercest survives. You need to be of a certain disposition for you to be great in business. In order to be great, you need to carry out great exploits.
Run your business
Socio-economic benefits are not derived from starting but running the business. Running is a process that consumes various inputs, whose consumption entails business to other entities. It is not only you, the owner of the business, who benefits from the operationalisation of your enterprise. Local authorities get revenue, employment is created, people get that new product or service you are offering.
No entrepreneur was famed for starting a business and failing the running test. The ability to successfully run a business demonstrates entrepreneurial acumen. We have a number of businesses that were subsequently run down after a very good start. Understand how your business functions and make sure it does so in an effective and efficient manner.
Innovate
Innovation sets businesses apart. It makes your entrepreneurship relevant. The world continues to change, thus requiring new interventions in the form of products or services. You need to keep track of these changes and be innovative in finding solutions to such happenings.
The one who comes up with the best and unique solution to people’s challenges gets the money.
Operate at their level but never be like them. Just be yourself as a businessperson and people will eventually know and respect you for that. Always be original in your approach.
Henry David Thoreau had the following to say on the issue of originality: “It’s better to fail in originality than succeed in imitation.”
Africa University’s College of Agricultural Sciences made headlines in “The Herald” of February 17, 2021 for innovating around zumbane, through the production of cough drops. If such kind of innovation is sustained and turned into a lasting business, we will then be talking of impressive progress.
Negotiate
The art of negotiating is a life skill that every person needs to possess. Best deals in business are a result of strong negotiation skills. Business entails delivering the best and getting the best in return. In order to get the best, you need to sharpen your communication skills, which are an essential tool used in negotiations.
Grow
What you focus on grows. Look at the attention that is given to a newly born baby or even our children in general. We make sure they are well looked after and well fed on a balanced diet. Such kind of focus and care is the same that your business needs for growth. Businesses are living organisms made up of essential organs for functionality. Growth is the only evidence of life in your business, and not activity.
Nasdaq president and chief executive officer Adena Friedman was clear on results and growth. “New products, new markets, new investors and new ways of doing things are the lifeblood of growth. And while each innovation carries potential risk, businesses that don’t innovate will eventually diminish,” he said.
Real entrepreneurs are able to grow their businesses.
Explore and expand
Entrepreneurs often go out to explore opportunities for both growth and expansion. As they do so, they encounter a number of obstacles that call for new and unique solutions. Such kind of processes prompt them to think of solutions. Edith Anne “Edie” Widder Smith – an American oceanographer; marine biologist; and co-founder, CEO and senior scientist at the Ocean Research & Conservation Association – once said: “Exploration is the engine that drives innovation. Innovation drives economic growth. So, let’s all go exploring.”
Entrepreneurship makes the world go round. Graduate from being an ordinary business person and embrace the entrepreneurship SYRINGE.
Dr Kudzanai Vere is an entrepreneur, author and transformational speaker. He is the founder and CEO of Kudfort, founder and director of programmes at Transformational Mindset Institute, founder and executive president of Premium Business Network International, secretary for the Kadoma Economic Development Chamber and a lecturer at Women’s University in Africa. He can be contacted on +263719 592232 or email [email protected] or [email protected]
