AFTER all is said and done, we should go further in order to come up with a holistic understanding or approach for successful entrepreneurship.
That is by not only assessing, but also equipping the entrepreneur with all cogs that systematically contributes to an integrated way of doing business.
This is critical as we try to remain in the game amidst any global environmental challenges (both human and technically induced).
Remembering that success in business is not a serendipitous outcome, but one that is calculated and planned for by the owner(s) and other key stakeholders.
In this edition, we go back to our previous discussions where we borrow/pick some key matters that proved to be ahead of the game in terms of spearheading market dominance and growth.
Hence, it is an integrative approach in the life of a lasting entrepreneurial setting.
To start with, is it the dream and desire to exist into the unforeseeable future? Yes, that is the orientation especially at the inception stage, but usually many of our entrepreneurs relax and weaken as they gain traction.
Since they will assume that doing business is a linear upward progression (once a business has started it incrementally goes into growth with more sales and increased market share).
- Integrated lifestyle of an entrepreneur
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In many instances, it does not follow such a pathway. This is proven by many of our entrepreneurs who have been on the record of dying too young.
Succession planning should be a daily practice.
That is by seeing the business beyond the founder and proactively structure in the current.
Like previously informed, the death, retirement and any form of departure by the owner/co-founder/key employee usually derails longevity.
We find that even in family run businesses when the parent(s) die, the business eventually dies too. Something will be wrong.
Our lifestyle in the current should be promotion of a talent management, continuous training, job rotation, job enrichment and multi-skilling.
Most of our entrepreneurs shy away from this practice as they view it costly to the business rather than future investment. Food for thought here!!!
There are other key matters for this configuration that we previously discussed too. These include a shared brand management approach and business trust ownership.
Everyone in the organisation should be a brand advocate/ambassador.
Usually, the branding matters are left only to the marketing function. This creates brand silos which will eventually quickly result in brand extinction.
An effectively shared brand configuration will improve on a wider awareness, positive image, high loyalty, positive perception on quality and lasting associations.
Let us come up with brand responsibility checklists which informs/directs everyone to participate, with clear guides, mentorship and exposure towards lifelong positive publicity.
That is in the drive of creating generational branding.
This takes us into another critical dimension of an integrated selling for business sustainability.
Of course, there is no one way to sell or look for customers from one type of business/sector to another. The sky is the limit to say.
The way(s) being applied in the selling process are the ones that define this cog of an enterprise, especially in trying to balance digital, human and blended modes of reaching/convincing the customer to make a purchases.
I say there is just need to strike a balance.
Mainly, it is imperative to first understand your customer/market better before resorting to any tool/form of selling.
Most of our promising entrepreneurs have good products/services but they only fail when it comes to the way, channel and platform to pitch a sell.
As informed in some previous discussions, marketing research is foundational/formational important for effective targeting and choosing the right mechanisms of reaching/satisfying the customer.
Usually, humans play a vital role when it comes to understanding the feelings and reactions of individuals/groups.
This is in comparison to the contemporary artificial intelligence (AI) driven type of selling/marketing.
Of course, there are some aspects for market determination that needs more human intervention or simply AI.
Meaning that these two market connectors feed into each other at every level of administration.
It therefore calls for a contingent tactful way of dealing with these along the selling/marketing cycle as either by humans or machines.
Most of us are inclined to only one, which is disastrous.
Lastly, in this paradigm where growth has been emphasised in our entrepreneurial practices, managing brand/product/service in the form of portfolios should be part of business sustainability.
That is when our daily setting prepare us to deal with new customers, partners and other stakeholders.
Even to have a legislative approach that adjust for perfect compliance as expected by the professional bodies and government.
There is more we can reflect in our practices as progressive entrepreneurial lifestyle, but the abovementioned matters also take precedence as we grow.
- Dr Farai Chigora is a businessman and academic. He is the head of business science at the Africa University’s College of Business, Peace, Leadership and Governance. His doctoral research focused on business administration (destination marketing and branding major, Ukzn, SA). He is into agribusiness and consults for many companies in Zimbabwe and Africa. He writes in his personal capacity and can be contacted for feedback and business at fariechigora@gmail.com, www.fachip.co.zw, WhatsApp mobile: +263772886871.
