Andrew
Entrepreneurship Matters
Dr Kudzanai Vere
All businesses and entrepreneurship endevours resolve around opportunities and it is important to understand the dynamics around the issues of identifying, isolating, investing and innovating around the opportunities.
The most important issue is converting opportunities into sustainable businesses.
The first step is to identify the opportunities in the market. You’ll find that while you might be in a position to identify such challenges, there are others who might be blinded of the same.
So, not everyone can be an entrepreneur. Effective exploitation of opportunities also entails going through the entire process of isolating these as you seek to invest and innovate around them.
Identify
Opportunity identification in entrepreneurship goes beyond the initial stages of looking for the area of business that you want to venture into.
The process is just an iterative one that goes beyond the starting line. Business survival is hinged on the ability to continuously identify opportunities and the successful exploitation of the same.
Great opportunities often come disguised as hard work that’s why most of us miss them.
Entrepreneurs of note are known for their versatility when it comes to the identification and the ultimate utilisation of opportunities.
What kind of problems are you ready to solve in the environment you find yourselves in?
After conceptualisation of the business idea and the subsequent launching, the running process calls for deliberate effort towards remaining relevant in the market.
Within that business you are doing, if you fail to see opportunities, you will remain stagnant and at the end of it all be moved out of the business lane due to redundancy.
Isolate
The market is awash with numerous challenges which are the opportunities entrepreneurs compete for. But as you know everyone and every company have their own unique strength which they must match with the opportunities that presents themselves in the market.
So the isolation process is informed by our strength and capabilities as an organisation or individuals. You can’t be everything and you also cannot do everything.
You might have successfully identified an opportunity but you must also be able to effectively isolate them.
There are those who take the jack of all trades approach to opportunities but this plays down on your quality and consistency for you cannot at the end of the day have all the skills, expertise and experience needed to tackle every challenge that presents itself.
Even Jesus in Matthew 15:24 responding to his disciples concerning the Canaanite women said “…I was sent only to the lost sheep of the house of Israel”.
The isolation process maximises effort towards that target you have at hand. At times you just have to be the best in that lane and build your brand around that.
It is not bad to identify and take up numerous opportunities in the market as long as you have the capacity to do so.
Invest
Once you have successfully isolated the opportunities that aligns with your capacity, skill set experience and expertise, you need to invest in that.
Entrepreneurship entails configuration of resources in the form of a sustainable business.
We all know from our economics that the major challenge is of scarse resources and how to effectively allocate them.
Entrepreneurs are known for investing in ventures that have predefined return and would have calculated the risks in advance.
Investment doesn’t only come in the form of money, you can invest ideas, skills, experience, and expertise.
In case you’re waiting for an appropriate time when you have adequate funds to invest. Such perfect time will never come.
ou will rather become perfect in waiting. At times you have to utilise the connections and networks that you have to support your purpose as you seek to utilise the opportunities that you would have identified.
Innovate
I like it when I get to this issue of innovation. In entrepreneurship, innovation is an imperative. Its actually one of the major pillars of the practice and process.
The world is kept ticking due to innovations. Innovation keeps the world in a relevant place in relation to the people living in it.
Men continued from where God left it on creation.
As we seek to tap into the opportunities that presents themselves in the market we must be innovative in our approach. Almost everyone is vying for the same opportunities and you must be different.
To innovate is to make changes in something established. Introducing new ideas and methods, products and techniques. Entrepreneurs are a group that have refused to be ordinary in their way of doing things.
Conclusion
It’s important to have an eye that is able to identify opportunities and develop a mental attitude capable of isolating such towards investing and innovating around them.
Determined to engage, inspire and transform generations in the areas of entrepreneurship and personal development.
Dr Kudzanai Vere is an entrepreneur, author of four books, business and personal development, multiple award winning entrepreneurship and business coach. Dr Vere has coached more than 5 000 entrepreneurs globally and continues to impact people in the areas of entrepreneurship, business and personal development. He is the founder & CEO of Kudfort, Transformational Mindset Institute and the Institute of Entrepreneurs Zimbabwe./Contact Dr Kudzanai Vere for transformational entrepreneurship and business coaching and training on [email protected] or +263 719 592232
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