enough to start small and focus on and even more sweat. Resources are scarce, learn that self-confidence would help them
business survival as you craft a strategy for finances are scanty, knowledge is sketchy overcome every odd and be successful in
long-term success.
and goodwill is zero.
their ventures.
Every literature on entrepreneurship
elevates the role of innovation in
success of new businesses. However, I
personally consider Innovation fairly low
in the entrepreneurial element basket.
Innovation helps in achieving success
in business whether it is 10 generations
old business or an entrepreneur’s new
enterprise.
An entrepreneur is one who starts a
business enterprise of which he had no
previous experience. Most entrepreneurs
start with a routine business activity
without any innovative idea. It may be as
common a business as a videography and
photography services provision.
So, if a young person sets up a company
that offers videography and photography
services while they actually studied, say
education in college, there is no innovation
but it is entrepreneurship.
What is key is for a person to venture in a
territory little known to them but through
continuous research and improvement,
they perfect the art of service delivery
or product development in that field.
Young people might be lost in the idea of
wanting to do something no one else has
done. This is a noble course to follow, but
I think there should be room to replicate
ideas from one place to another, and
simply improve on already existing ideas.
Having interacted with so many
entrepreneurs from East and Central
Africa, I think it is critical for young
people to remember that perseverance
plays a big role in the success of new
business ventures. They have to appreciate
that the start is tough and initial failures
are a common phenomenon. I have come
to understand that if someone ventures
into entrepreneurship without having a
steely resolve and perseverance to keep
going against all odds, their failure is not a
question of if, but when it will come.
Hard Work
Every entrepreneur I have interacted with
in the course of my job tells the same
story: the initial years are sweat and sweat
They all confess that untiring work
bordering on the madness is a common
element in their lives. Some will talk of
packing a 48 hours work schedule in their
24-hour day, and time never seems enough
to do all what needs to be done.
Despite the much work and little possibility
of success, young entrepreneurs should
George Mbithi is a Communications and
Governance professional currently based at
the East Africa Regional Leadership Center
for the Young African Leaders Initiative,
YALI. You can reach him via mail on:
[email protected].