adminentrepreneurs who derive satisfaction from taking risks.
In my endeavour to try and understand the mind of an entrepreneur, I realised that as humans we have been forever consumed with the process of action and reward in both professional and personal aspects of our lives.
Hence it is no surprise that entrepreneurship has this process of action-reward deeply ingrained.
In fact in the case of entrepreneurship it is a very significant driving force. We can present this simply and say that nobody would be prepared to do anything without an expectation of a reward.
This brings in the other factor that is a significant driving force for entrepreneurs – reward relationship.
If it weren’t for the fact that the size of reward is directly proportional to the size of risk (in most parts of the world, and in most applications) entrepreneurship would definitely not be the same.
Take a look around you, and begin with the sprouting housing estates nearby. Who are the trend setters there?
You hear this is so and so’s house or it’s that family that is “destroying” that mountain to build a mansion.
It is that breed of risk-averse entrepreneurs who are eager to take on challenges as they come and before you know it, they are already done and are considering what move to make next.
In the meantime the conservative lot will be watching from a distance. It follows then that entrepreneurs are constantly looking for problems to solve.
To begin with one has to answer why they entered into business in the first place?
While entrepreneurs need to find some economic success for the simple fact that they need to be able to survive, pay their bills, put food on the table, pay wages and provide a good return on investment to their investors.
It is amply clear that they don’t have to focus all their energies on the question of solving some existing problem.
There are many success stories, some large and some small, of entrepreneurial endeavours where a new venture came into being just because it was a good idea!
It is therefore an ongoing process and that is the reason why some people accuse businesspeople as a greedy lot that is never satisfied with what they have.
I obviously do not subscribe to this notion because whoever determines what is enough for me may not necessarily be fully informed of my tastes and needs.
The hunter instinct in entrepreneurs is actually never ending. They will continuously be searching for more to quench a never-ending thirst with an all conquering quest.
If I could take you back a bit, look at the advent of email for instance, what problems did it solve?
It was just an innovative way to communicate in real time and while many were not bothered, it soon became a must have for all individuals and businesses.
It seemed as if the problems came after the solution was found. That is innovation!
The Rubik’s cube is another good example. It has been extremely successful and continues to sell even after many years since its invention.
But was the inventor really thinking about solving some specific problem for humans?
We can be pretty sure that nothing in the world would likely have changed if the cube wasn’t invented.
According to Sharma and Chrisman’s definition of entrepreneurs; “Entrepreneurs are individuals acting independently or as part of an organisation, who create a new venture or develop an innovation and take risks entering them into the market place”.
This definition has many insights, which could help us understand and derive some of the characteristics, and properties, which make the difference between successful and unsuccessful entrepreneurs.
Entrepreneurship combines three major practices:
The use of initiative and innovation;
The ability to take reasonable risk and the use of entrepreneurial/managerial ability that ensures accomplishment.
The ultimate objective of every individual whether educated or not is to be his/her own boss and employ others.
The profit motive as well as the attendant physiological achievement associated with successful entrepreneurships is the driving force to be an entrepreneur.
To achieve desired goals and objectives an entrepreneur must try as much as possible to overcome these challenges.
We are all products of our own successes and the more we commit ourselves to achieve, the more we realise our dreams.
It is no use to continue mourning and occupying our minds in endless gossip aimed at discrediting the achievements of others when we can actually be trend setters in our own right. Believe me no matter how small, an idea can blossom into a huge business.
At the expense of being labelled an activist, I shall continue hammering on the point that as Zimbabweans, let’s take full advantage of the indigenisation crusade as opportunities are opening up and the law is on our side.
Let’s rise to the occasion and make a difference in our lives. Oh yes, we can! As always, let’s make money.
Online Reporter