Set Yourself Up For Success: A Cut Above The Rest

December 2022

Over recent years, Entrepreneurship has evolved into the economic backbone of our country. The establishment of entrepreneurial enterprises has enabled South Africa to begin addressing unemployment, which has been made possible by efforts to create jobs, reduce poverty, and reduce inequality. Entrepreneurship is not for those who want to get rich quickly. These so-called shortcuts are impractical and will only lead to failure. Growth and success require pure determination and a willingness to work hard for the long haul.

Become a Successful Entrepreneur:

  • Be ambitious and do not accept "no" as an answer.
  • Nurture long-term business relations.
  • Learn from the best to inspire others.
  • Adopt a flexible mindset to evolve with trends.
  • Trust your instincts when the paper fails.

The entrepreneurial journey will test the very core of your being and knock you down repeatedly. It is important to recognise however that this is a necessary step on the path to success. Every negative experience has a positive lesson which has the potential to help one grow personally and professionally. The thing to remember is that man by nature, cannot be skilled in everything. A mentor to guide you is just as important as having a support system around you.

Allow your heart and gut instinct to be activated and they will always be your most trusted guides because no one knows your business better than you. You do not need to be hasty; build your company slowly with a small team to develop the company culture, driving your company with passion and purpose.

The South African policy framework includes an economic focal point in the form of Enterprise and Supplier Development (ESD) programmes. Collaboration between strategic partners and ESD creates powerful vehicles for developing small businesses. As a result, empowering small businesses allows them to withstand the test of time and eventually make their mark alongside large corporations. Participation in ESD programmes also provides Small and Medium Enterprise (SME) owners with the tools to assess their progress, develop strategic expansion plans, and track and record their progress toward achieving proposed goals.

The symbiotic relationship between ESD corporates and SMEs will only succeed when mutual benefit aligns with both businesses' objectives. Transparency is essential for both parties to understand the long-term requirements of ESD solutions, which necessitate a set of conditions that require considerable effort, time, and commitment from both throughout the funding agreement.

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