These are the rules of entrepreneurship

Recently I spoke at an event where over over 70 per cent of those in attendance wanted to start a business, and it struck me that many of us are nursing this entrepreneurship dream.

As the year comes to a close, you may be asking yourself whether 2018 is the year to take the leap into business. What does it take? Well, if entrepreneurship was a game, these would be some of the rules.

Be willing to fail. For many people like myself, the business that finally worked was not the one we started with. Accept failure as an integral part of the game, and as a teacher. Formal education does not teach us how to fail so life will have to. Society tells us that failure is to be hidden.

For example, the people who got top marks in KCPE have been highlighted all over the place. We never talk about those who got average or even low marks.

It doesn’t mean they didn’t put in effort. When you fail, take the lesson and move on. The rest doesn’t mean anything. If your business fails at first, it doesn’t mean you can’t do business. There is no success story without failure behind it.

LEARNING TO BE BROKE

Be willing to look like a fool. Not everybody will understand what you are doing. Things are not correct only when those around you approve of it. You are not out to get votes. People will think you are crazy to leave a good job and start a business.

Will they also help you regret it five years later if you regret not pursuing your dream? You’ve got to remember that you have been given a vision and passion for something in particular that nobody else has. Therefore, not everybody will be part of it – and that’s OK.

Be willing to make little money now for the possibility of making more later. Delayed gratification and learning to be ‘broke’ are key parts of this game. Entrepreneurship will teach you that death will not occur simply because you cannot afford some of the things you are accustomed to.

I have looked at the Sh200 left in my bank account and been forced to realise that I am still a human being with mental capacity. A human being who can still get up and change my circumstance. It will be uncomfortable but it is important to learn that a monetary situation does not define you.

You can’t ever be a victim. You have to take 100 per cent responsibility. You can’t afford to blame a boss, the government, economy, colleagues, etc. This is not to say that external situations will not impact you.

WHAT IS YOUR ATTITUDE

Our protracted elections have adversely affected many businesses. However, your default reaction as an entrepreneur to anything that may come your way is – ‘What am I going to do about it?’ The power always lies in your attitude towards a challenge, not the fact that there is a challenge.

Realise that you have something unique to offer. A couple of years ago, a potential client challenged me and I blurted out, before I could stop myself, that I am the best. I kicked myself for saying this but retrospectively, I saw the importance of this statement.

You are out to figure out what is unique about you and to sell that. Your job is to be the best at being you. Consequently, your business should be ‘the best’ at something.

This is not taking away anybody’s right to be the best at themselves. People want to work with and buy products from those who are the best. Think about what motivates some of your own purchasing decisions.

I believe entrepreneurship is about more than just starting a business. It’s an approach to life that you can use anywhere. In fact, organisations are thirsting for people with entrepreneurial attitudes.

We shall continue this series next week but for now, I’d like to leave you with an anonymous quote: “Entrepreneurs live a few years of their lives like most people won’t so that they can spend the latter parts of their lives like most people can’t.”

Waceke runs a programme on entrepreneurship. To sign up, email her at [email protected] or watch her online tutorials on Youtube|Centonomy101

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