By Zeluleko Zet Moyo
STARTING a business is what everyone is doing or at least hoping to do in Zimbabwe. We have many people starting businesses every second than we have those maintaining, growing, and succeeding in them. The starting of business is at times the easiest phase to sail through, but, whatever foundational principles you apply when starting it and the day to day management of it may prove to be the hard part and it will determine the shelf life of the company. The veracity is that both the proper establishment and management of business is tough. It requires a well thought out infrastructure of ideas and plans that will enable sustainable success. Let’s take a look at some of the principles that enable success in any startup and this list is by no means exhaustive.
1. Understand the current ecosystem
Studying closely this ecosystem you will realize a few things about our world transformation, one being that, right from the early 90’s to date our world has become extremely rich and is exponentially becoming rich daily. Yasliaki Tsutsumi was the richest man year 1987 until the early 90’s and from around year 1995 the hyper technological wave came to play being led by Bill Gates. In 1995 Bill Gates was the richest man in the world, worth $12.9 billion, five years later in year 2000 he was worth $60billion and 20 years later, in 2020 Jeff Bezos was the richest and he was worth $200billion. The technological wave is still giving birth to more opportunities and crazy returns within the business ecosystem as it is slowly knitting everything and everyone together and becoming a virtual or global village thereby increasing the market base. There are more opportunities now than ever before and businesses are growing exponentially.
2. Have a trend breaking idea
As startups, the obvious temptation is to not really start your own idea but rather copy what is already within the ecosystem and seems to be giving good returns. Unfortunately such ideas can only make you survive but hardly thrive. Many people within the Zim business ecosystem are selling chickens all because a next door neighbor built their house through that business, so we all copy it. It’s only those with trend breaking ideas that stand a chance of making it to the headlines. Be different and unique that is what sells.
3. Have a clear plan
Many people think deeply and thoroughly about how to start but hardly think about how to manage and grow the business after starting it. Think deep and clearly about operational needs, that’s what you would need to manage the day to day running of the business. Be clear and specific about it right to the last detail.
4. Start small but think big
In our current business ecosystem many players who join in, start small mainly because of the paucity of resources. Starting small doesn’t determine that one has to think small but one has to think big even if they started small. Manage and promote your business as if it was already a billion dollar business you always dream of.
5. Stay ahead always
Initiating a trend breaking idea today doesn’t guarantee that it will always be a trend breaking idea. A minute after your launch someone is already working on a counter idea to outclass your idea. The only way to keep your trend breaking idea trending throughout generations is through staying ahead. Improve it daily. Remember your market base and competition is worldwide not provincial so strive to be ahead worldwide.
6. Get a team
You can dream alone, but you need other people to live your dream. Get people who are stronger in your weaknesses. Get people who have networks you don’t have. Get people who have skills and traits you don’t have. A team will help you reach where you can’t reach individually. Think beyond being self-employed and working alone.
7. Be agile
Agility is required both as you establish and as you grow. Be able to perceive trends as they prepare to unfold and combat yourself towards them. Anticipate future opportunities and obstacles and prepare yourself towards them. Be quick, flexible, and relevant to the changing times.
8. Network
Your network is your net worth. The greatest work that a business can invest hours in is that of networking. You will hardly grow beyond your network because your network determines your clientele. Your network allows you to sell your products before you even order them. You are able to know how many will buy what you are selling way before you order it, which is a great skill in business. Be a purposeful networker.
9. Strive in failure
Many people die with their great business ideas all because they are afraid to fail. Not starting your business because of fear is failure in its greatest way. Failure is part of the success journey. Learn and grow through failure. Never fixate on you failures.
10. Grow daily
Every living thing grows. If your business is survive through generations it should grow through generations. The easiest way to kill your business is through hindering growth in it. Many business owners are afraid of growth because growth brings about change and change like unchartered waters, is always unfamiliar and scary yet it is the only constant thing in the world we live in. Scout for new opportunities daily and grow through them.
Starting a business, managing, and succeeding in it is much easier when we apply the above mentioned principles.
Zeluleko Zet Moyo is a transformational speaker, leadership developer, and author. Contact him on: +263776089376, Azmoyo@gmail.com
