By Macdonald Mafandizvo
The 21st century entrepreneur need not think outside the box but very far away from it. We are going through the most challenging era in business where proactiveness can only complement one’s innovatiness and creativity to sustain business growth.
Many would simply refer entrepreneurship as merely opening a tuckshop in one’s neighbourhood or a cellphone repair shop at Copacabana. I however opine differently as it is essentially beyond that sticking perspective. Today’s entrepreneurship is a dynamic process of creating incremental wealth by those individuals who with proper planning assume the major risks relating to equity,time,money and effort to provide cutting edge solutions relevant to identified circumstances facing societies.
In essence,this phenomenon developed way back from the 17th or 18th century to become a fundamental pillar in most world economies.Here in Zimbabwe when one opens a boutique or a takeaway in town,we call him an entrepreneur.Contrary,today’s entrepreneurship is embeded in one’s ability to identify a gap and together with a proper strategy invent a long lasting solution to that particular problem. I say invent because I see entrepreneurship as a skill that is capable of bringing to this world new business ideas which impact human creation and influence the way we live.
Thinking Outside The Box
When one becomes an entrepreneur,he assumes the role of a marketer. However,time and place or the surrounding environment determines how or what to invent so as to meet a specific need. That being said,some inventions just have to wait until an important piece of technology is in place. It is when one uses his endowed intelligence and the passive skills to identify a gap hence develop a technology that will allow other structures and systems to use it and solve various problems,more opportunities will come by and success is inevitable.
For example,a lot of people would love to take vacations in the orbit but because there is not yet a low cost means of transport from earth to the orbit it becomes difficult. Thus Space holidays may be a great opportunity for another time.
Today’s entrepreneurs play around long established technologies and make a living. Creativity has helped them further old times inventions and reveal opportunities therein. It is interesting how air travel has led to the birth of travel agents,automobiles have led to the invention of seat belts and other safety devices. Who ever imagined what microchips could bring. Now they made it possible to have in this age digital watches,calculators and many other mobile devices. We have today several companies sustaining on software development business due to the creation of computers and mobile phones.
Customer Engagement
The 21st century entrepreneur also need not be shortsighted. Most entrepreneurs in this age are still jostling with big companies for space in the print media,radio and television platforms where statistics show that only a few people have time to listen to the radio or watch television. Therefore they are missing their target audience. These formulated marketing strategies have no much positive impact on small businesses as compared to big enterprises. Improved personal interaction and customer engagement is vital for entrepreneurs.
There are opportunities for today’s entrepreneur nonetheless one’s ability to make good use of the tools available at his disposal is critical. Zimbabwe is progressively hosting crucial opportunity seeking exhibitions like the Carnival,HIFA etc where local entrepreneurs should participate aggressively but objectively.
It is through these events where entrepreneurs can personally interact with prospects and clients thereby developing strong relationships that can translate to loyalty, positive word of mouth, elevated customer base and improved revenue inflow.
Today’s entrepreneural success depends upon the business’s alignment with technological trends. With the proliferation of internet,thus the web,Facebook,Twitter,Instangram,Pinterest,My Space,LinkedIn etc,one writter once said it is difficult to find a product that won’t sell online.
Entrepreneurs should use such platforms to enhance visibility,awareness,save time and money hence improve productivity that will in turn generate more revenue. In a nutshell,it is of great essence that today entrepreneurs need to be tech-savvy and remain competent as online presence is what sustains today’s business.
Bottom line is entrepreneurs don’t have the muscle to fight the big guys through formulated marketing strategies,hence direct selling,customer involvement and online presence can be rewarding if innovation and strategy takes precedence.
Global Competition.
Nowadays with the Internet,customers can simply track the progress or lack thereof of a brand all over the world. This explains why keeping abreast with technology is important. Zimbabwean entrepreneurs are competing with their counterparts in Nigeria,South Africa,France or China and the rest of the world. Therefore it is undeniable this competition’s online presence lessen the opportunities of the local enterpreneur as globalization has taken centre stage.
Besides being creative and innovative,21st entrepreneurship demands seriously taking cognisance of developments in the ICT industry making use of the available social network platforms to foster business visibility and growth. Besides broadening one’s clientele base,social networks allows one to interact,get instant feedback and engage customers for sustainable business development.
Macdonald Mafandizvo can be contacted on mmafandizvo@gmail.com
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