Following from the previous series, I want to add the following issues that are key to building an enterprise that goes the long way. People want to do business with people they can trust, even crooks don’t want to deal with crooks lest they are one up them. Therefore,
iv)Ethics = Success! Look at Obama, and you find Leadership + Character were his hallmarks hence he won the 2nd term when it looked almost impossible. Human nature is that people want to deal with people they trust hence a track record which is beyond reproach is essential. Having the moral courage to ask the tough questions where you see grey areas is crucial. Group think mentality destroys a good brand.
V) Learning, Unlearning, and Relearning: Let me say that I believe in leading by reading. That helps me stay ahead of the curve. To build anything when you are not aware of what changes are in the marketplace is not very wise. Need to learn new ideas, unlearn bad habits and relearn. Never stop adapting. They say insanity is doing the same thing over and over again, expecting different results.
vi)Knowing and accepting failure is part of the game – Failure teaches self-confidence and tenacity. There are people who fail and take it very, very personally, and that makes it hard to recover from it. They are at risk of forever being fearful of taking new risks. Failure is actually really great. Failure is about gaining much-needed perspective. Think of it as the foundation of something far much bigger and better.
Having something fail teaches you to question the decisions you’re making, to be more open to alternative options and be more aware of what consequences you might have, so that down the road, you won’t have those consequences again,
I have had my fair share of failure but have always bounced back. I have gotten up, dusted myself, and moved on with much more vigour, determination, and perseverance.
Above all, doing everything with passion is a sure winner. Success comes more easily when you love what you do.
These are my thoughts on what I see as essential building blocks of entrepreneurship, not only in Zimbabwe, but anywhere for that matter.
While macro-economic factors like forex crisis and policy inconsistence affect us negatively, part of the problem as business is failure to read the signs and exercise prudence in aspect like financial discipline, execution, good ethical business conduct, knowing and connecting with key business stakeholders, and providing the best value proposition to them.