SMEChat:An entrepreneurial mindset crucial to business success

Business
An interesting fact came out at the World Economic Forum in South Africa during the past week. According to the World Bank, one out of every 10 people in developed countries work in tourism and related industries. In the developing world, the number is only one in 20, which is 50% less.

Opportunities are therefore plentiful for new enterprises and new jobs in this sector.I wrote an article last year urging young people to “Make a job, don’t look for a job.” That advice is still relevant because our economy has not created many jobs and is unlikely to do so in the near future. Even in African countries that are economically stronger than Zimbabwe, more young people join the job market than can be absorbed by industry and commerce.There are plenty of opportunities out there. The revelation on tourism at the World Economic Forum is just a tip of the ice-berg. Every problem you see presents an opportunity to provide a solution and make money. Every chance to improve an existing product or service, to bring convenience to people, to save people money or help them make more money; these are all opportunities.Money is not a hindrance to entrepreneurship, as testified by hundreds of successful entrepreneurs I have spoken with. If your idea is good enough, the money will come.

ENTREPRENEURSHIP IS A MINDSETPeople are not born entrepreneurs, but they decide to become so and take the necessary action. If you enter a room full of wrestlers, they all look, act and sound the same. But they were not born like that. It is the routine training, diet and acquired behaviour that makes them look the same.Entrepreneurs develop certain traits over time: huge ambition, imagination, persistence, passion and conviction in what they do. It is your ambition that will determine the height that you will scale. It is your vision that sets your limits, and makes you decide whether to have employment or a business.One thing that distinguishes entrepreneurs from ordinary people is their passion. It is the passion that makes them take risks, rise again after failure and never give up. That passion is evident in every entrepreneur; you can feel it in their voice when they talk about their business and products and in their constant urgency in getting things done.

ENTREPRENEURS ARE ATTRACTED TO OTHER ENTREPRENEURSEntrepreneurs don’t like to be distracted from their vision; so they avoid people who are negative, lazy and timid. To acquire the entrepreneurial mindset, you must surround yourself with achievers. If you listen to their stories, you will hear how they struggled against the odds, falling down and getting up until they eventually built successful businesses.Don’t forget to read books, magazines and articles on entrepreneurship and business. Other entrepreneurs’ thought will broaden your mind; while advice from experts will help you avoid common mistakes and cope with challenges that are inevitable in business. Most successful entrepreneurs are willing to share their knowledge by teaching others, writing and giving interviews. Learn from their experiences and you will succeed.A good way to meet other like-minded entrepreneurs is to attend networking events. Robert Kiyosaki said he attended a three day seminar on how to buy real estate, spending US$385. Over the years, he made over US$2 million dollars using what he learned from that course. Apart from sharing advice and ideas, such events widen your circle of contacts. These are people who could end up being your customers or business partners. A wide network of contacts will prove helpful as you grow your business, as they can link you up with people who can help you overcome all sorts of hurdles.   May 12 is the day of the Accelerate Your Growth SME Business Seminar. Two of the speakers will share their stories of how they built successful businesses with very little resources to start-up with, the challenges they overcame, especially being women in a male dominated business world and their passion to see young women empower themselves and seek financial independence.You will find lots of new insights, resources and opportunities for SMEs and entrepreneurs at my site,http://admiralbiz.wordpress.com. “The winners in life think constantly in terms of I can, I will, and I am. Losers, on the other hand, concentrate their waking thoughts on what they should have or would have done, or what they can’t do.”  — Dennis Waitley

nPhillip Chichoni is a business planning consultant who works with SMEs and entrepreneurs. His email address is  [email protected].