How women can become successful entrepreneurs?

Vaidah Mushangwa Correspondent
Balancing productive and reproductive duties with work has always been problematic for women and especially nowadays where critical thinking is a prerequisite in order to sustain the family.

Time immemorial, very few people dreamt of becoming entrepreneurs but in recent years both the young and old are becoming entrepreneurs. Entrepreneurs have therefore received considerable attention in business circles and the print and electronic media alike.

Entrepreneurship and the creation of small and medium enterprises can surprisingly have positive impacts on the creation of new jobs and boosting family and or individual income. In Zimbabwe entrepreneurship plays a pivotal role in promoting economic growth and equitable and sustainable development.

Entrepreneurs are responsible for introducing a major proportion of new and innovative products and products that reach the market. The aim is growth and greater presence in the market. It is imperative therefore for the creation of markets so that the entrepreneurs can market products and consequently raise income. In Zimbabwe entrepreneurs can exhibit their products at the ZITF, Zimbabwe Agricultural Show and international fairs. Some of them take advantage of our tourists resorts like the Victoria Falls, Great Zimbabwe and Matopo Game Park to exhibit their wares and market their products.

Any visionary person can come up with an innovative way to do something better, faster, cheaper or with improved features. Some entrepreneurs pioneer new technologies and some people with blocked career paths end up being entrepreneurs. Young college graduates and secondary school graduates can easily become entrepreneurs if parents are supportive.

A good example is Abigail Muungani (22 years) and, of course, other young entrepreneurs, who after completing her Ordinary Levels immediately embarked on a career that has transformed her life into a mature and responsible young entrepreneur.

After completing her Ordinary Levels at Bulawayo Adventist High School because of her passion in fashion designing she went to Zimbabwe College, a private institution in Bulawayo and did a Certificate in Cutting and Designing. She followed this up with a Diploma in Cutting in Designing.

With only one electric machine she started sewing a variety of clothing items like shirts, skirts, dresses for family members, friends and clients in her community. From there on she has never looked back, she now makes wedding dresses, gowns and African attire.

Her ambition is to register a company, come up with a label, buy more machines, rent her own shop in town and employ more people to assist her.

She said: “My parents are very supportive and my advice to young entrepreneurs is that depending on their passion, everything is possible.”

She also encouraged young people to be innovative and pursue their dreams.

Entrepreneurship is equally important for women whose careers are affected by the glass ceiling in male-dominated careers. Several women leave their firms and organisations to become entrepreneurs so that they face more challenges and autonomy. Several women have launched successful entrepreneurial efforts. In Zimbabwe business ownership by women has increased significantly and some have won various accolades and recognition.

Key characteristics of a good entrepreneur include a high need for achievement, that is, they enjoy setting goals and have a desire to achieve them through their own efforts and they are also willing to receive feedback on how well they are doing.

Apart from that, good entrepreneurs must have an internal locus of control with a strong belief to succeed, to accept responsibility for any outcome and they have a zeal to try harder.

Entrepreneurs must also have the skills to run a business, improvise, find new solutions to business problems and overcome unforeseen obstacles. They must also be  self-confident. Without such skills one can still be an entrepreneur by imitating those that have such characteristics or role models.

Above all, a good entrepreneur utilises several business skills for efficiency and effectiveness in his/her operations. These include negotiating skills, networking skills and leadership skills.

Negotiating skills are required when borrowing money from the bank, negotiating for office space, obtaining raw material and negotiating for employment contracts.

Gathering information and building a pool of alliances requires quality networking skills at personal level and business level. Personal networks are sought from individuals with same interests, suppliers, creditors, friends, role models, former entrepreneurs and so on. On the business front, alliances are forged with other businesses to improve the market base and to source products and services.

Above all, leadership skills are a prerequisite as this assist in aspiring and motivating employees to achieve the set goals and objectives and to overcome obstacles.

Starting and managing an entrepreneurial venture begins with an idea, developing a business plan, selecting legal structures to operate under, obtaining financing and then looking at growth and expansion.

Some entrepreneurs fail to accomplish their set goals and objectives due to several reasons. This includes lack of capital. The Ministry of Women Affairs, Community, Small and Medium Enterprises Development has several funding modalities for women and the communities. These include the Women Microfinance Bank, the Women Development Fund, the Community Development Fund and utilisation of these funds can help women and communities boost their businesses and expand projects.

Poor knowledge of the market is one critical element. At times the product can fail to appeal to the intended market. This also applies to a faulty product design. Consumers can reject a product due to its design.

At times entrepreneurs may select employees who do not support the goals and objectives of a business. A good example can be a family business where there can be rivalry between family members and consequently dividing workers.

At times entrepreneurs fail because of poor understanding of competition. At times some may resort to price cuts and special discounts to try and drive new competitions out of business.

Using available cash on rapid growth or expansion, ineffective new products, attempts to have new people at once, lack of controls and inventory controls can threaten the survival of a business venture.

Vaidah Mashangwa Director Gender Ministry of Women Affairs, Community, Small and Medium Enterprises Development. Cell 0772111592.