FOR MANY, THEIR entry into business starts as a hobby such as a passion for cooking, baking cakes and biscuits, fixing computers and electronic gadgetry, designing and making garments or providing social media platform maintenance or photographic services, hairdressing and beauty care services.
Then, products made or services offered become popular outside of the family circle, to the extent that others are even willing to buy products or pay for services.
Soon it becomes an income generating activity and thereby the spark of entrepreneurship is ignited.
For fledgling entrepreneurs, business is initially conducted on a trial-and-error basis, with learning and behavioural correcting forming part of the early-stage entrepreneurial journey.
As business gains traction the importance of money discipline, keeping records of expenses and income, and quality service delivery, become a norm.
Entrepreneurship is not age restricted, often starting when that person is still at school or studying at a tertiary educational institution.
For others it comes later when they are at the early stage of their working life but don’t like working for a boss, preferring to be a job creator than a jobseeker.
They start engaging in business after working hours. As the product made or service provided is perfected and business skills gained and customer numbers grow, the confidence level rises.
Then, the novice entrepreneur takes the plunge and goes into business on a full-time basis.
Older people, who in later stages of life opt to embark on an entrepreneurial journey, either see a need for a product or service or stumble upon a business opportunity.
It then dawns on them that working for somebody else is not that great and venturing into business becomes an attractive choice.
Armed with confidence, they leave the safety and security of a job to venture into business.
The common thread is that irrespective of age, gender or demographics, entrepreneurs are serious about business, enthusiastic about making success thereof, willing to work hard and smart – every day of the week and for long hours.
It always raises suspicion when a person arrives in a luxury sedan to attend a business skills development programme, enterprise or an entrepreneurial development activity.
Fears are confirmed when one hears that the person is employed.
Delving deeper, you quickly learn that the real motivation for venturing into business is a craving for money, as the income earned is just not enough to fund a lavish lifestyle.
They naïvely believe business can be managed while staying in employment.
Running business, unlike changing the television channel at home, cannot be done remotely.
Those serious about business know that it requires sacrifice.
Entrepreneurs understand the importance of thoroughly researching an idea before trying to turn it into a business reality.
Know that a perceived need for a product or service must first be evaluated to learn if that market really exists.
They start their entrepreneurial journey with meagre resources and during those early formidable years, live modestly.
They routinely plough a portion of profit generated into the business to fund growth by buying equipment, more stock and marketing the business in a more impactful manner. The bottom line is that being in business is serious business.
*Danny Meyer is reachable at danny@smecompete.com
