Point of no return

Entrepreneurship Matters
Dr Kudzanai Vere

Introduction

“Knowledge of your business and the effort (hard work) that you put in, are necessary to get you off the starting line, but it is your attitude towards self, business and money that gets you to the Point Of No Return (PONR) (sustainability).”

Every individual gets into the entrepreneurship and business domain with the ultimate aim of growing into a well-established entity capable of outliving generations. It is unfortunate that most organisations large and small fail to reach what I call a Point Of No Return.

In some circles, a Point Of No Return carries a different meaning from the business meaning I gave it. It may mean a point of death to some, and a lot more to others, but my thrust in this case is to assist businesses reach a position where closing shop or winding up is no longer any option to talk about.

I like Wikipedia’s definition of Point Of No Return which says, “The point of no return (PNR or PONR) is the point beyond which one must continue on one’s current course of action because turning back is dangerous, physically impossible or difficult, or prohibitively expensive.”

This is a point where talks about winding up operations has no space. Such terms would have been erased in one’s vocabulary. It is a business development stage where you no longer dream, think or talk of returning to the crawling and sickling stages of your enterprise.

Put in another way, it is a point beyond which a business must continue on its current growth trajectory. Everything is set in motion and the owners of the business are now seasoned and cultured professionals. That’s the Point Of No Return in business that I am fighting hard for everyone that I rub shoulders with to reach.

No one starts a business in order to wind it up along the way. Everyone has growth prospects. What I have noticed in reality is that 70 percent of businesses are going through a see-saw kind of performance. At times they look like they are blooming and at other times they are on the verge of going under. There are a good number that will surely fail to stand and close shop.

My mission is to push you and your business to a Point Of No Return. The magic pill I am going to administer that will help you achieve this PONR touched directly on your ATTITUDE.

It is our attitude towards life, work and money that enables us to make or break it in life.

You might have heard that if ABCD . . . Z is equal to 1 2 3 4 5 . . . 26 then the word HARDWORK is equal to 98 percent, knowledge adds up to 96 percent, but the word ATTITUDE is the only one that gives us a 100 percent.

John Wooden once said, “Ability may get you to the top, but it takes character to keep you there. I am however, going to weigh in from another angle and say; “Knowledge of your business and the effort (hard work) that you put in, are necessary to get you off the starting line, but it is your attitude towards self, business and money that gets you to the Point Of No Return (sustainability).”

Let me at this point address the three attitude ills that have rampaged our businesses;

Attitude towards self

You are the beginning and end of everything in your life. If you want to succeed, it is up to you and likewise if you want to recess and regress, so your attitude towards self is paramount in the success of your business.

One of the greatest leadership authors of all time, John Maxwell once said; “The greatest day in your life and mine is when we take total responsibility for our attitudes. That’s the day we truly grow up.”

You just need to take responsibility for your actions. Only then can we talk of meaningful growth. From the business workshops I have done, I have heard 80 percent of performance excuses pointing to prevailing circumstances or situations, economy and the Government. Inasmuch as these have an effect on your business, your attitude plays a pivotal role to your performance.

I have seen people making it in business under this current harsh economic climate, but you resort to wanting and waiting for calm whether to come. Eagles feel happy in a storm because they have learnt how to convert it into an opportunity to fly higher in the sky. You also need to develop a similar skill at a personal level.

If you really feel you can’t, you will eventually fail at it. But if you think you can, you’ll indeed make it. It is all about your attitude towards self that should be a starting point in reaching a point of no return in your business.

Attitude towards business

Due to the gravitating desire in me to fully address this issue, I am forced to start this point by defining the word attitude. Dictionary.com defines it as a manner, disposition, feeling, position, etc., with regard to a person or thing; tendency or orientation, especially of the mind.

Merriam Webster dictionary defines attitude as a mental position with regard to a fact or state.

“I take attitude as a precast conception about something that has grown strong enough in a person to the extent of controlling his/her behaviour and feeling towards certain things.”

When I left employment to embark on a lone business journey, I was so positive that I would make it in business at whatever cost. This did not mean the road would be smooth all the way, but my mind was set and I had a precast conception about my abilities regarding business. Attitude works the magic. My business took visibly dangerous twists and turns but I remained steadfast.

I have heard many, especially those that would have spent half of their lives under a salary, fear starting and even running their own businesses, so they approach the whole concept from a compromised position or defeated in mind.

Often times, I draw inspiration regarding my business and personal life from Winston Churchill’s statement that says; “Success is walking from failure to failure with no loss of enthusiasm.”

These and others have given me a positive attitude towards business regardless of the challenges that I might encounter.

Recently, I had an intensive consulting session with a wonderful couple whose company was registered by one of our companies, Kudfort Advisory Services. What I liked about them was the quality of business questions they asked. The conversation was so rich and beneficial to them as they really wanted to know the best way forward in the retail business against the ever changing rates. Your attitude towards your business matters.

As we deliberated for the hour that they had paid for, I shared with them a powerful statement by the automotive guru Henry Ford that says; “Paying attention to simple little things that most men neglect makes a few men rich.”

If you just blink for a moment in your business these days, you’ll spend the whole day selling your products or services below cost as the parallel market exchange rates are on the rise.

In order to have a positive attitude towards business, you really need to have the end in mind, and every day ensure you are working towards it as proposed by Ryan Allis.

ATTITUDE towards money

“The person who doesn’t know where his next dollar is coming from usually doesn’t know where his last dollar went.” Unknown

Of the three, this presents a bigger challenge to many and that is how to behave in front of money. We all work to get money but that is not the problem. The challenge is what we become when we ultimately have it.

Money is a medium of exchange and it is meant to be so and never to influence our behaviour, as it has done to many. “If we command our wealth, we shall be rich and free. If our wealth commands us, we are poor indeed.” Edmund Burke. We should be driven by our values and guided by a positive attitude towards money.

Frank A. Clark once said, “Many folks think they aren’t good at earning money, when what they don’t know is how to use it.” We seem to have the same levels of earning potential however, what distinguishes us is the way we use money. One may choose to reinvest money gotten, while another may resort to relaxing and spending.

Have you noticed that before the money comes after a deal, you will all be in agreement, but once the money is on the table, the atmosphere changes? There are some who would want it all for themselves. That is a bad attitude towards money.

Even in your business, you have to learn to reward your employees accordingly. Upon excellent sales performance, you need to recognise them by some form of payment.

Robert Bosch, the founder of the German multinational engineering technology company Bosch once said, “I don’t pay good wages because I have a lot of money; I have a lot of money because I pay good wages.”

Your attitude towards money, will determine your altitude.

If you want to succeed in life and business, here is a tip from Tim Ferriss, “Money is multiplied in practical value depending on the number of W’s you control in your life: what you do, when you do it, where you do it, and with whom you do it.”

My honest opinion and advice is, make sure that you’re not overrun by your brains when you eventually make it in business. Take great care of the three Tim referred to above.

Most men fail on the last W when they get money, “WITH WHOM YOU DO IT.” They leave their wives and children (with whom they toiled during the hard times of business), only to spend the money with those that sell love as their business. I have seen many businesses going under on this one. Make your family happy by spending money on and with them.

 

Conclusion

Attitude in business and life in general is everything. You can have the brains and money, but without the right attitude, all can be decimated to naught.

Determined to engage, inspire and transform generations

The writer, Dr. Kudzanai Vere is the founder of Kudfort, Transformational Mindset Institute, Premium Business Network International and the Institute of Entrepreneurs Zimbabwe. He is an entrepreneur, author and transformational speaker in the areas of entrepreneurship and personal development. The transformational speaker have trained more than 5000 entrepreneurs globally in the areas of innovation, organisation development, practical business management and ideation. You can contact him on +263719592232 or email [email protected]