My mentor in business once told me that one cannot be taught entrepreneurship; one can only learn.
This partially explains why most graduates from the best business school undergo a kind of paradigm shift when they venture into business either as owners or employees. It explains why employed people with vast experience in corporate jobs are at the highest risk of when they start their own business.
They have to discard some of the things they have been taught and learn the stuff that conforms to the market realities.
For instance, whereas business school tells you that business growth follows a straight path in phases and draw graphs and charts to explain it, in real world growth often takes a crooked and unpredictable path.
When most people embark on an entrepreneurial journey they have grand plans about investment, customer acquisition, and eventual prominence in business. They expect to put high initial investment, get low revenue in the first few years, followed by a steady and sustained surge of astronomical growth.
Soon they discover that this growth pattern exists mostly in business books and rarely in real world. The most successful businesses actually never follow the script. They are developed through trials and tribulations, temporary quits, change of direction and multiple failures.
Contrary to what is taught in school, in reality businesses does not always move forward in a straight line. Almost all successful entrepreneurs confess that their way to the top was checkered with ups and downs, back and forth as they reshaped and took form. Some took three steps forward; two steps backwards, stagnated for some time and gain momentum for another forward match.
Some have had at times to sack all the staff, close business and operate from home or back street or change product line completely.
Others have had to rebrand in order to divorce themselves from the business’s past and think of themselves as outsiders so that they could taking a fresh objective look at the business. They had to ponder where they went wrong and embark on building the business as if they were starting from scratch.
There are other businesses that grow slower than the owners’ expectation. A friend once told me how one of his businesses strained his marriage because the spouse could not understand why he should continue pumping money and family resources in a business that did not seem to be picking any time soon.
However, five years down the line, which seemed like a decade, things turned round and it become the ‘favourite family business’ as it surpassed all other ventures in profitability and future prospects. His wife even resigned her job to sit in the business.
Unfortunately most start up entrepreneurs get discouraged when after few years in business all they have to show is a long list of debts, changed plans, high staff turnover and abandoned projects.
Learn from those who have been there before.
As a business coach I believe what I offer to my clients is practical knowledge and timeless principles that no learning institution or books, including the ones I have written can teach them. I simply don’t teach them, I walk the journey with them, I guide them and in the process they learn how to make money and dreams come true.
For more details send me an email together with your brief profile and details of the business you plan to start or you are already in. Email: Murorikiunga@yahoo.com or call me on 0720570530.