The Standard (Zimbabwe)

Integrated lifestyle of an entreprene­ur

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).

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.