BizBuzz May 2024 | Page 83

ENTREPRENEURSHIP IS NEEDED IN SA TO DEAL WITH UNEMPLOYMENT BY ALLON RAIZ , RAIZCORP CEO
THE RECENT SOUTH AFRICA UNEMPLOYMENT RATE HAS INCREASED AT A STEADY RATE OF 32.9 % IN THE FIRST QUARTER OF 2024 . THIS IS ACCORDING TO THE QUARTERLY LABOUR FORCE SURVEY ( QLFS ) STATISTICS SOUTH AFRICA WITH AN EXPANDED DEFINITION 0.8 OF A PERCENTAGE POINT IN THE FIRST QUARTER OF THE YEAR . THE ROAD TO BECOMING AN ENTREPRENEUR IS NOT ALL ROSY – IT MAY TAKE MONTHS , EVEN YEARS TO SET UP A DREAM PROJECT . TO ENSURE MORE JOB OPPORTUNITIES AND SOUTH AFRICA NEEDS TO HAVE MORE ENTREPRENEURS TO HAVE A SHARP INCREASE IN EMPLOYMENT RATE . 1 . YOU ’ VE GOT TO HAVE GRIT GRIT IS ONE OF THE CHARACTERISTICS ENTREPRENEURS MUST POSSESS TO HAVE A CHANCE AT SUCCESS . YOU NEED THE ABILITY TO STAND UP AGAIN AND AGAIN AND AGAIN , NO MATTER HOW HARD YOU ARE KNOCKED DOWN . YOU MUST ALSO BE RESILIENT , TRUSTWORTHY , RESOURCEFUL AND FLEXIBLE .
2 . YOU ’ VE GOT TO HAVE VISION WITHOUT A CRYSTAL-CLEAR VISION , YOUR BUSINESS IS LIKE A RUDDERLESS SHIP THAT CAN ’ T AVOID TREACHEROUS ROCKS . AS THE CAPTAIN , IT IS YOUR JOB TO MAP OUT THE VISION – THE DESTINATION – OF YOUR SHIP . YOU MUST TURN YOUR VISION INTO A PRACTICAL STRATEGY AND FILTER IT DOWN TO YOUR ENTIRE ORGANISATION . IF EVERYONE KNOWS WHAT THEY HAVE TO DO TO REACH THE DESTINATION , THEY ARE LESS LIKELY TO STRAY OFF COURSE .
3 . YOU ’ VE GOT TO EMBRACE FAILURE NO ONE LIKES TO FAIL BUT IF YOU ’ RE FAILING , YOU ’ RE LEARNING – EVEN IF ALL YOU LEARN IS HOW NOT TO DO SOMETHING . WHEN YOU FAIL ( AND YOU WILL ), GIVE YOURSELF TIME TO LICK YOUR WOUNDS . BUT NOT TOO MUCH TIME ; DO NOT WALLOW . FEEL THE PAIN , EMBRACE THE FAILURE AND MOVE ON STRONGER THAN EVER .
4 . YOU ’ VE GOT TO BELIEVE IN YOUR WHY WHY ARE YOU IN BUSINESS ? WHAT IS THE “ BIG PICTURE REASON ” THAT MAKES YOU SLOG AWAY , DAY IN AND DAY OUT ? IF YOU DON ’ T BELIEVE IN WHAT YOU ARE TRYING TO ACHIEVE , ITS GUARANTEED THAT NO ONE ELSE WILL CARE . YOUR WHY IS WHAT WILL KEEP YOU GOING WHEN TIMES GET TOUGH .
5 . YOU ’ VE GOT TO HAVE BIG ONES . . . YOU NEED TO HAVE THE CAJONES TO PROACTIVELY GO AFTER WHAT YOU WANT TO MAKE THE DEAL HAPPEN . BE AUDACIOUS . NO ONE BUT YOU IS GOING TO MAKE YOUR BUSINESS A SUCCESS .