Entreprenurial Nuggets

Decide Part 1

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I have come across many people, both young and mature who have told me this same old story “I want to go into business, but I don’t know where to start” My simple answer to them is – “I can’t help you until you have decided. “ And indeed, nobody can, until you decide that you want it. Whether you are thinking of starting a business…or thinking of launching a new product…or employing somebody… The best advice in the world won’t help you. Until you decide. I get hundreds of messages on my social media platforms, emails, meet up people at many business and social fora, and the same question keeps coming and coming…. I love helping people, the real problem I have noted is that many of these people are still sitting on the fence.  They have not decided to be an entrepreneur yet. I have tried to give some semblance of answers to this question, but it won’t do much help. Because you have not decided to be an entrepreneur yet. I was fortunate to have lived beyond my time as it was irreconcilable to think of going into business at the time I was in high school, the 70s. I, however, was already sold on the idea of not working for other people at the time I was in my teens as I was very clear that I would want to start and run a business, not just a small business, but a significant business. When you decide, the world opens up to you. Your brain starts to find a way to make it happen. Here is an example…  Think about the last pair of shoes that you got. Once you bought it… did you not start seeing it everywhere on the streets? It’s not like they just suddenly appeared. They were always there, your brain just ignored them. Until you decided, the same thing happens in your business. If you’re on the fence, nothing is going to happen. When you decide to do it, you will start finding ways to make it happen. When I decided to start a security company, I did not bother to worry that I had no prior knowledge and experience in the sector, but I was just decided that I would do it, learn as I go and try to make a success of it as I had seen the opportunity. It’s the difference between a dreamer and a doer. I will continue in the next issue on this topic, till then.

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IMPORTANCE OF A BUSINESS PLAN

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Some have been asking me why banks often reject their loan applications. There are many reasons that banks may use to reject an application. These range from lack of adequate collateral, wrong cash flows, or an unconvincing business plan. I feel it is of paramount importance for me to explain more on a convincing business plan. The business journey is indeed rewarding and also a voyage of discovery. We live in a world that is governed by laws. Failure to observe the law pertaining to a certain aspect means failure in that line. Business is not to be spared as well. There are laws of success that govern business. In order for the business venture to grow and be sustainable there is a need for proper planning. There is a popular adage “Failing to plan is planning to fail” (Benjamin Franklin), this adage may sound like music to your ears but business planning is a key area which zeroes in on the importance of planning for any project. Sadly, this planning step is often overlooked and the result is always devastating. There are many opportunities and ideas that are not seeing the light of day because they have not been planned properly. A business plan is a prerequisite to anywhere worth going in terms of business idea. A business plan is a well-defined road map that details how a business will achieve its objectives and goals, whether it’s a start up or an existing business that is planning for the following periods. It has to be clear on its strategic intent and the action plan thereof. The plan has to have a summary of what if key intention is and then detail how key aspects such as structure, operational plan, marketing, financial. Having a 3-to-5-year horizon is always better as we all want to build generational businesses. Many people only draw up a business plan because they want to get funding from a bank, and they end up using some so-called consultants to come up with such a key document, they usually pluck if off some similar documents or off the internet that may not have a fit with your own idea.  I encourage entrepreneurs to come up with their own business plan as this forces them to think through the major aspects of how the business is going to evolve.  This usually helps to fine tune some key assumptions that might mislead the entrepreneur to think the idea works in a certain way , whereas, sitting down to put it all together will give clarity on the best way forward. Therefore, a business plan, whether for funding or not, is the key guide to a implementing for success.

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SELF BELIEF GETS YOU THERE   Part 1

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For those that have followed my presentations at various fora, if there is anything that I talk with a lot of emphasis is self-belief or Positive Mental Attitude (PMA).  This is what makes the difference between those that will make it or be doomed. I was very fortunate to have a father who lived beyond his time.  My self-belief was inculcated in me by my father in the 70s when I was growing up. Being a straight A student who came top of the class at the end of every term, my father then at some point kept telling me never to lose that position, as he emphasized that’s where I belonged. I took it into my stride and have not disappointed him in that regard to this day.  Unfortunately, he is not here to witness that that what he seeded in me has grown and taken me this far.  I just love those people who are full of self-belief, those who genuinely believe they can achieve anything they set their minds on? I am fortunate to count many such women entrepreneurs in my network of friends and peers who personify the idea of self-belief. They are truly inspirational, each and every one of them, and it is a life-affirming experience to spend time with them. They are definitely ‘glass half full’ people. I believe there is a direct correlation between their significant success in business and in life, and their levels of self-belief. As we all know, to be successful you have to be laser focused on the vision you have for your business and you have to drive the strategy you have developed to achieve that vision. But ultimately, it is your unwavering, passionate self-belief that will get you there. There will always be detractors who will question your vision, your abilities, even your business acumen. But just remember that your self-belief will win out because deep down you know you can achieve anything if you want it badly enough and are prepared to work hard and work smart to get there. Self-belief and that confidence is what will make any seemingly insurmountable challenges meaningless. In this political, economic, environmental and social times we live in, the challenges are many.  But I often ask, has there ever been an easy road to anywhere worth going.  I believe not. Even the Bible teaches us to believe in ourselves. Psalm 18:32-34 “ the God who equipped me with strength and made my way blameless. He made my feet like the feet of a deer and set me secure on the heights. He trains my hands for war, so that my arms can bend a bow of bronze.” Self-belief motivates people to explore their potentials and this motivation may lead to the achievement of goals and aspirations.

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Decide Part 2

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Dreamers dream, but doers do. You say “one day I will own a business.” or “in 10 years I hope to retire.” or “I wish I could buy that Range Rover.” Doers do. Yes, you need to dream, and you need a plan to do something, but let me tell you there are things I have done without a long-term plan. If I want something, I start attacking it, at that point. Entrepreneurs are doers. You don’t necessarily have to go “all in.”  If you are on the fence, this is not about quitting your job and going full time into your startup. It is ok to have a process. It is ok for it to take your time, but you have to start doing something now. The best time to start your business is yesterday. The next best time is NOW. Do not wait for a perfect product or service to launch your business. If the goal is anything worth doing, then it won’t be accomplished in a week. The big step here is not in how much time you spend on it, it is  that you decided to do it. And when you decide, you become a new person. A person on a mission. That changes you and what you do. Even if it’s one small action at a time. There’s no holding you back once you decide. I have thrived on actioning ideas, big or small, personal or business as I have told myself all the time ‘No guts, no glory”.  If I had not done so with the SECURICO idea, I would not, just maybe, be where I am today. 

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Decide Part 1

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I have come across many people, both young and mature who have told me this same old story “I want to go into business, but I don’t know where to start”. My simple answer to them is – “I can’t help you until you have decided. “. And indeed, nobody can, until you decide that you want it. Whether you are thinking of starting a business…or thinking of launching a new product…or employing somebody… The best advice in the world won’t help you. Until you decide. I get hundreds of messages on my social media platforms, emails, meet up people at many business and social fora, and the same question keeps coming and coming…. I love helping people, the real problem I have noted is that many of these people are still sitting on the fence.  They have not decided to be an entrepreneur yet. I have tried to give some semblance of answers to this question, but it won’t do much help. Because you have not decided to be an entrepreneur yet. I was fortunate to have lived beyond my time as it was irreconcilable to think of going into business at the time I was in high school, the 70s. I, however, was already sold on the idea of not working for other people at the time I was in my teens as I was very clear that I would want to start and run a business, not just a small business, but a significant business. When you decide, the world opens up to you. Your brain starts to find a way to make it happen. Here’s an example…  Think about the last pair of shoes that you got. Once you bought it… did you start seeing it everywhere on the streets? It’s not like they just suddenly appeared. They were always there, your brain just ignored them. Until you decided, the same thing happens in your business. If you’re on the fence, nothing is going to happen. When you decide to do it, you will start finding ways to make it happen. When I decided to start a security company, I did not bother to worry that I had no prior knowledge and experience in the sector, but I was just decided that I would do it, learn as I go and try to make a success of it as I had seen the opportunity. It’s the difference between a dreamer and a doer. I will continue in the next issue on this topic, till then.

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Entrepreneurship for Economic Growth

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I hope my blogs so far have inspired a lot of you from the feedback we get. One of the reasons I have had to come up with these blogs is, I strongly believe that out there, are men and women of virtue whose desire towards economic development can only be realized when somebody has stirred and awakened the entrepreneurial giant that has been sleeping within them. As I post various entrepreneurial issues and topics, I try to make this journey as practical as possible for all aspiring, new and accomplished entrepreneurs. It is my sincere hope we will build a prosperous society that ushers in equal business opportunities to all who dare stand and make a difference. Therefore, I always try to be as candid as possible with a practical approach to entrepreneurship which I have experienced over the past few decades.  It is my hope and plan to reach out and have intimate discussions with those who strongly believe that entrepreneurship is a channel through which one gets to decide a life that is right for them through bootcamps that will soon be happening in a serene environment in the woods of Zvikomborero Farms. Entrepreneurship provides the base for economic growth and expansion for economies like ours which desperately needs more new businesses. I hope to ignite a burning desire that will stir the hearts of the young men and women in college to think entrepreneurship as they create their future paths. What this economy needs now are entrepreneurs – people who start up new businesses, take risks and create new jobs, not people who don’t want to live off pre-existing enterprises. I also want to continue igniting a desire in the hearts of the mature corporate executives, the so-called successful corporate leaders to think beyond their current comfortable zones. In the next few months, I will be sharing ENTREPRENEURSHIP SUCCESS TIPS which I trust will help some of us on our journey as we pursue our dreams and goals. I dare challenge you colleagues out there with this – in life, if you have two choices, become rich or you work for the rich, what would you go for? Till next time

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Adapt or get left behind

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Adaptability – it’s a word that is synonymous with entrepreneurs. It’s defined as the ability or willingness to change in order to suit different conditions. In business, change is constant, and in order to survive and thrive, it’s essential to remain open to new ideas in response to the marketplace. You need to keep testing your strategy, your business plan, and your product offerings to ensure they remain vital and relevant. You need to keep talking to your customers, getting feedback, finding out what they need and want in a changing world. You need to identify possible risks to your business due to changing market demands or realities and develop mitigation strategies before those risks turn into a crisis. Importantly, you also need to be honest with yourself and change the direction of your business if you feel it is becoming out of touch with the marketplace. Just think back to those iconic business names of the past that failed to adapt to the changing world, and as a result, were left behind – Kodak, the camera and film brand that didn’t see the digital picture revolution coming, and the Zimbabwe Postal Services  are  classic examples. Adaptability is a key quality for success – make sure it is a trait you develop too. At SECURICO, we have tried to be relevant to responding to the market’s pain points when it comes to security issues. Currently, due to many people keeping large or small sums of cash at their offices or homes, armed robberies have shot up.  We have come up with a solution that takes care of that removes people from exposing themselves to the risk of being attacked. It is therefore imperative to have the agility to quickly change course when the situation demands, obviously after doing all the due diligence and risk mitigation analysis.

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