Imagine
coming close enough to a one-on-one session with South Africa's Entrepreneurship Hall
of Fame without an appointment?
Speaking
of the greats: Discovery’s Adrian Gore, Nando’s chicken king Robbie Brozin,
hotel magnate Sol Kerzner or real estate empress Pam Golding. The thought
process behind Anant Singh and his first film, the battles Raymon Ackerman
faced building Pick n Pay; or how Carrol Boyes turned a passion for art into a
lucrative business?
How
did they all start out? How did they raise capital? What drove them? What were
their individual recipes for success?
KEY
RECIPES OF SUCCESS FROM ALL THE ABOVE;
1. Make a difference in
your industry
– Always believe that you can redefine the business industry that you are in.
Make a ground breaking.
2. Believe in yourself – Part of being an
entrepreneur is the need to get somewhere in life; to have the belief that you
can get out there and make a difference.
3. Money follows ideas- If you have a
great business idea, you’ll find someone to pay for it.
4. We learn more from
our mistakes rather than from our victories – From success one
learns only how smart they are. From failure, they learn how to improve
themselves
5. Trust your gut – Even upto the
last moment, just before pen meets paper, walk if you smell trouble.
6. Strike a balance
between reason and passion – A good business idea is not pure emotion
or pure intellect – it is a combination of a desire to do something and a sound
reason to do it.
7. Use the lean times - So called bad times present a great
opportunity; you cut your costs back to the bone that when the market starts to
go up; you’re in a fantastic position.
8. Learn how to invest – It is not about
what you earn, but about how you invest it.
9. Work with people
whose skills complement your own – Businesses need to have components to
succeed, logic and creativity.
10. Make sure talent
bubbles up in the company but not out of the door – Open door policy
where it nurtures and drives not just talent but also room to be innovative and
spread that like a bad disease.
11. Become a super
delegator –
because there is a mutual interest to succeed, let your people run with your
vision. That gives time to grow and transform more.
12. The bigger the
challenge, the sweeter the reward – If you do something obvious and easier
then you would be missing the opportunity to be that catalyst.
13. Partnerships are key
to successful entrepreneurship – The world’s greatest entrepreneurs – the likes
of Warren Buffet, Bill Gates or Steve Jobs – are presented to the world as
individual success stories. The truth is that these entrepreneurs had partners
who played a key role in ensuring that they realize their dreams in their
chosen paths. One of the key advantages of partnerships is that those involved
are better placed to analyze their dreams and develop others along the way.
14. Chase success – The money is not
all-important, it’s only one of the measures of success.
15. Build depth – There is nothing
like depth. It gives you gravitas.
16. Put in the hours – Success in
business does not work on an 8 – 5 mentality. Be prepared to work hard and put
in extra hours.
17. People make profits,
businesses only report them – You realize value by turning a good
business into a great business. But more fundamental than that is turning good
people into great people.
18. Simplicity should be
prized not despised – An entrepreneur should never be afraid of simplicity. Some
believe the more complex you make something the more impressive it is and the
more chance of it has of being approved. Simple is better.
19. Stay close to your
customer –
if you become too corporate in your approach you lose touch with what your
customer’s want. Stay close to your customer and you stay close to new
opportunities.
20. Find a mentor and
listen –
As the quote goes….I am able to see far because I sit on the shoulders of
giants. Always find someone ready to be your blueprint checkmate and guide you
as you navigate the entrepreneurial road.
GBSH
Consult is a top go-to global consulting firm that delivers essential advantage
to the world's top influential businesses, governments, individuals and
organizations. GBSH Consult focuses on converting business visions and ideas
into ideal revenue channels. For more info log onto www.gbshconsult.com
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