Opinion
"The formula for success"
Humans have an innate desire to understand how great entrepreneurs think and how great businesses are formed. Here we provide a unique insight into the mindset of great entrepreneurs.
Over the past 24 hours, news agencies reported two bombings in Kampala, the capital of Uganda, with several wounded. Earlier in 2021, South Africa faced deadly riots turned rampage in Kwa-Zulu Natal and Gauteng. Ethiopia after a decade-long majestic rise is currently on the precipice of war.
To the outside world, one word describes the above events: chaos.
As Leonardo DiCaprio’s character in Blood Diamond is quoted saying: “This is Africa.”
Regardless of the roughness of the world, our platform, Billionaire Tomorrow, shares stories,though the gloom, about successful entrepreneurs throughout Africa.
How are these millionaires and billionaires created?
Is it simply the luck of the draw or is there a formula; I believe there is a formula of constants identifiable across different entrepreneurs.
The chaos of Africa, together with several other annoyances such as power cuts in South Africa or unstable currencies linked with unstable governments creates difficulties for citizens.
Often one can hear the public frustration oozing from socialmedia.
This leads us towards the first part of the formula; resilience.
When a startup is founded, there is no magical cloak protecting the business from these risks. Yet, the founder can overcome these challenges because of their resilient mindset.
This is a common trait seen among entrepreneurs on different levels of the wealth spectrum. From the small coffee shop to the Dangote Group, entrepreneurs must be resilient to avoid the ‘cancer’ of a negative mindset.
There is a reason we never hear from an entrepreneur: “the reason for my success is my negative attitude.”
With a resilient mindset, these heroes can withstand and recover quickly from difficult conditions, like a spring recoils.
Though, success is not found with resilience alone. The next step in the formula is to be opportunistic.
This is a common entrepreneurial thread not only in Africa, but across the globe, yet one can argue it is both easier and tougher to be opportunistic in Africa.
To take advantage of an opportunity requires an opportunity and opportunities are found in difficulties. Thus, the more difficulties, the more opportunities.
As Richard Branson says,”Opportunities are like buses – there’s always another one coming!”
However, the formula is notto identify opportunities it is to be opportunistic, defined as a person who takes advantage of opportunities as and when they arise, regardless of planning or principle.
Thus, to be successful one must get on the bus, seeing the bus is simply not good enough. On our continent there are thousands of metaphorical buses.
Hence, we arrive at our destination, the last part of the formula; resilience combined with opportunism equals a problem solver (resilient + opportunist =problem solver).
A staple of each interview with any entrepreneur anywhere on the continent are the words, “I am a problem solver”. This is the essence of what it is to be an entrepreneur.
Often the passion towards solving a problem is so strong, it is almost palpable. There is a love between the entrepreneur and the problem he or she is solving.
Without a problem there is no opportunity, there is no need to be resilient.
Furthermore, without a problem solver, there is no product, no business, no success, and no profit.
The beginning of anentrepreneur’s success is using their resilience to becomeopportunistic and solve a problem.
After the solution is found, the formula is constantly applied as there is no smooth sailing. The journey is a difficult one where the entrepreneur must constantly use his resilience to overcome future challenges while leveraging any newly founded opportunities.
By applying the formula, the African entrepreneur can solve local difficulties and arrive at their desired destination of accomplishment. Long may it be so.
