They say what an Old Man can see while seated, a young man cannot see while standing. Young and growing entrepreneurs need mentors if not trainers.
Speaking at the recent Kenya College of Accountancy University (KCA) “25 under 25” award ceremony in Nairobi Safari Club, Mr Vimal Shah CEO, BIDCO Group lauded the young entrepreneurs who according to him were lucky to be in a fast-moving world where information is at their finger tips.
He had the following tips to share;
Do business with respect
Operating a respectable business is as important as respecting the business as an entity, respecting employees and colleagues as well as business clients. This is ideal for business growth and success because you need all the three mentioned factors to achieve the most out of a business.
Believe in yourself
This calls for being confident in one’s ideologies and pushing yourself to achieve the goals no matter the circumstance. However, Mr Shah warns against being arrogant and rude in an effort to accomplish your goals.
Change with the customer
As the customer grows so do his or her needs change; learn to grow and change with clients. While this is advisable, Shah cautioned against deviating from ones original goal. Keep track of where you are going otherwise, you might end up going the wrong way or nowhere at all.
Passion to do the business
Passion is a key ingredient to success of anything that one sets to achieve. This is what nudges you to keep going when the going gets tough. Find passion in your business and make it work.
Be compliant with the law
Businesses don’t operate in absence of laws and requirements of the land in which they are being operated. Shah urged young entrepreneurs to comply with the laws and guidelines set by government and other institutions to enable them run their businesses properly.
Do not be rigid
The world is fast changing and only those who change with it will benefit. The BIDCO boss noted that the days of five-year strategic plans are slowly being over taken by events. Ideal business people should be ready to change plans as often as required by the market in order to succeed. The goals and vision of the business however should not change.
Be the disrupter
A disrupter is one who sees an opportunity in something and changes the ‘flow’ of things in business while gaining more from the business. Disrupters achieve this because they are able to notice things that can be turned into businesses for their benefits and those of their clients. It is out of this disruption that businesses are formed.
Think big, start small
Many budding entrepreneurs think big and also want to start big. This is where they go wrong. Starting small allows the business to grow from one stage to the other and this will allow the entrepreneur learn and understand the business better.
“Start with a small, but visionary and clear idea”, Mr Shah advised.
Posted on EduFrica