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How to Be a Successful Entrepreneur

How to Be a Successful Entrepreneur

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Published by Greg Kawere
An overview of how anyone who is willing to put in the time and effort can become a successful entrepreneur. by Greg Kawere www.gregc.za.org
An overview of how anyone who is willing to put in the time and effort can become a successful entrepreneur. by Greg Kawere www.gregc.za.org

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Published by: Greg Kawere on Aug 21, 2012
Copyright:Public Domain


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How to become an entrepreneurshipby Greg Kawere
15 July 2012 (draft 1)
Entrepreneurs are an essential ingredient for sustainable development since they have the ability tocreate unprecedented wealth for themselves and their communities. The reasons we have so muchunemployment and poverty in Zimbabwe is because Zimbabwe is not developing enough highimpact entrepreneurs.High impact entrepreneurs in the mold Strive Masiwa (Econet Wireless), Divine Ndhlukula(Securio Security Services) ,Nigel Chanakira (Kingdom Bank), Vivita Chivunga (Vivi Fashions)and many other great Zimbabwean entrepreneurs who have created employment and wealth forthousands of Zimbabweans.To remedy the situation it is essential that we create structures that enhance education, curiosity,innovation and creativity which are essential to nurture indegenious entrepreneurs. It is alsoessential that Zimbabwe's entrepreneurs are celebrated and their stories told inorder to inspire thenext generation of high impact entrepreneurs in Zimbabwe.The question is, is it possible to learn how to be an entrepreneur and if so how, is it possible forgovernment to create policies that enhance entrepreneurship in Zimbabwe and if so how. The oldage myth of medieval management theory that entrepreneurship is a in-born trait which you eitherhave or dont is at best just that a myth.Since.it is possible to learn and improve your ability to identify a business opportunity and developit into a product or service that the market is prepared to pay for, one can only conclude that it ispossible to learn how to be a entrepreneur.For in its simpliest form entrepreneurship is the ability to identify an opportunity, developing anappropriate product or service to satisfy the opportunity and setting up business systems to deliverthe product or service to potential customers at a price that will make it sustainable for you todeliver it.So to become an entrepreneur you need to know and improve your ability to identify businessopportunities. At first you will come up with as many business ideas as possible and then afterconducting a preliminary market research you will have a feasible business opportunity.But ofcourse thats the easy part, you will now need to conduct a complete market research inorderto turn your identified business opportunity into a product or service that people are willing to payfor. The market research be the basis of a business plan that will spell out the business systems thatyou will have to set up to deliver the product or service in a sustainable way to your potentialcustomers.With a business plan in hand, you can start your journey to being a successful entrepreneur, as abusiness plan is both a marketing tool to funders for capital and a map for the entrepreneur showingyou where you are going and how.The main elements of being an entrepreneur are to outlined below in point form
1.Identify a feasible business opportunity or idea2.Develop a product or service that people are willing to pay for3.Develop business systems to deliver a product or service to potential customers4.Develop the entrepreneurship mindset
I will now provide a short synopsis on the main elements that you need to know and constantlyimprve in your journey in becoming a successful entrepreneur. The first element in line is on how
to develop a entrepreneur mindset. Although this is point 4, it is the first ingredient that you require.
How to develop the entrepreneurship mindset
Entrepeneurs are know for their ability to take caculated risk, networking, relentless work ethic,discipline, vision, passion for excellence, risilence, patience and never say die mentality. Thesecharacter traits are necessary for you to survive the ups and downs of starting and running asuccessful entrepreneur.It is also necessary to read about the stories of successful entrepreneurs and general business booksso that you can contextualize and internalize the entrepreneurship mindset. You will also need tohave basic knowledge about bookkeeping, marketing, sales and administration, there are many shortcourses that you can take to acquire this knowledge.Some of the books that should be on the reading list of any aspiring entrepreneur are listed below.1.Africa Greatest Entrepreneurs 20112.The Innovator’s Dilemma : Clayton Christiansen 19973.Good to Great & Built to last -Jim Coolins 20054.Zimbabwe's Greatest Entrepreneurs -20125.How to Change the World," by David Bornstein6.Outliers by Malcolm Gladwell7.Start With Why," by Simon Sinek 8.The Entrepreneur Equation by Carol Roth9.The Little Big Things: Tom Peters10.The 7 Habits of Highly Effective People by Stephen R. Covey11.. In Search of Excellence: Thomas J. Peters and Robert H. Waterman, Jr.
How to identify a feasible business opportunity or idea.
Its very easy to think of a business idea, the difficult thing is to find a feasible business idea that hasmarket potential. The best way to do this is look at the everyday problems you face in life and think of ways to solve them.At this stage you will probably come up with 10-15 business opportunities, you will then need toconduct a feasiblity market research on the business idea. A feasibility market research study willhelp you a look at the market potential of your business ideas. In the end you will probably have 2-3 business ideas that are more likely to succced.
How to develop a product or service that people are willing to pay for
The only way you can convert a feasible business idea into a viable product or service that peopleare willing to pay theirhard earned cash for is by knowing what the customer wants. So you willneed to conduct extensive research inorder to know as much as you can about your target marketand your competitors.Your business idea or opportunity should be spelled out in a unique selling proposition thatdifferintiates your product or servce from the rest and additionally makes your target market want tobuy your product or service instead of your competitors.From a process of iterative market research and product or service development you will come upwith a compelling product that people want to buy.
How to develop business systems to deliver a product or a service
When you have a product or service you feel people are willing to pay for, the next step is todevelop business systems that will deliver the product or srvice to market.The main components of your business system are1.A legal business entity that is compliant with all legislation (tax, labour & environmental

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