Traits and Profiles of Great Entrepreneurs

Entrepreneurship-The Iceberg Illusion

Entrepreneurship Vs Self Employment

Successful entrepreneurs continuously increase and develop their knowledge and skills.

Successful entrepreneurs continuously improve their knowledge and advance their skills through both formal and informal methods including:

• Workshops and webinars
• Business Associations
• Trade exhibitions and conferences 
• Social networks

Common problems entrepreneurs encounter in the process of growth and expansion.

1. Keeping with the demands of the market.
2. Planning and organization.
3. Cash-flow and cash management.
4. Problem solving.
5. Right systems.
6. Right skills and attitudes.  

REASONS WHY SMALL BUSINESSES FAIL IN TANZANIA

Hard facts about selling, TIPS for entrepreneurs...

1. Selling is not about the product, it is about the person.
2. People hate being sold to, they love to buy.
3. Concepts sell, details don't.
4. The customer makes the purchase, you don't make the sale.
5. The sale is complete when the money is in the bank.

Principles for an effective education system for PRESENT DAY ENTREPRENEURS in Tanzania.

And.......TESTING is the gateway mechanism for students and a means for monitoring quality and efficiency.

Principle 1.
Ensures that instruction is coherent.

Principle 2.
Connects new knowledge to what students already know.

Principle 3.
Covers topics at a deep level rather than a superficial level.

Principle 4.
Provides students with opportunities for new learning.

Principle 5.
Uses real world tasks and examples.

Principle 6.
Makes students practically aware.

Things you need to know NOW that you are doing a small business.

You cannot win a Race unless you run it

In order to succeed or fail  in anything we need to participate in it. Our involvement and objective greatly determines the outcome. No one would like to fail because naturally we detest failure and cherish victory. 

However, in anything we intend to do, we need to start from somewhere. The starting point normally matters quite a lot and can be a contributing factor towards the result. 

Talking to different entrepreneurs who ventured into and are in small business operation, it was very interesting to know how they started, exploring issues like their ambitions, what motivated them, the challenges and problems they encountered and many more. 

There were a lot to learn from these entrepreneurs especially the successful ones who showed outstanding commitment in their involvement and objectives.  They are individuals with very rich experience and exposure in their businesses.

Here I will share with you some common qualities I observed and learnt from 5 successful small business entrepreneurs I talked to.

First was the URGE TO SUCCEED. All had a starting point with different causes but with common desire to achieve. It is sad to learn that some lacked certain opportunities in life like going to school or access to any form of help and had to pursue life the hard way. No matter the cause, they were driven by the desire to achieve. 

Second was PERSISTENCE. All went through a lot but persisted amidst failures and even heart breaking challenges but they never quit. It even involved losing friends, relationships and wealth but they never quit. They remained firm and continued to pursue their business ambitions.  

Third was DISCIPLINE. All showed higher levels of self discipline in relationships, business dealings, handling finances and managing resources. They exemplified qualities like thriftiness, moderation , punctuality, honesty and  consistency.

Fourth was SELF MOTIVATION. All confessed that they  were highly self motivated in all that they started and did. They always took full responsibility and accountability in their operations. They knew it was all about them and should they fail, others behind them would also fail.  Through self motivation some accomplished a lot including personal development through learning and gaining extra knowledge.

Fifth was FLEXIBILITY. All showed an element of flexibility in adopting to changes, conditions and circumstances. Some even had to change businesses or relocate to new areas. No matter how tough or easy a situation was they had the flexibility to change with the times and the demands of the market.  

Interviewing these small business entrepreneurs at different occasions and places but observing and recording  these similar characteristics in them was quite interesting. 

Indeed, the person who doesn't succeed is that person who doesn't have a dream to achieve in life. If you have these qualities and have a DREAM in starting a small business, why not chase your ambition?  

Things to consider before starting a small business in Tanzania

 biasharainspirations.blogspot.com

When you say YEAH to the right things, people, opportunities and choices-you grow

What are the available entrepreneurship opportunities as Tanzania heads towards semi industrialized and middle income economy?

TANZANIA FIVE YEAR DEVELOPMENT PLAN (FYDP) II 2017-21

How much is your worth as we head towards a Middle Income Economy and a Semi-Industrialized Nation by 2025

Have you ever wondered why majority of employed people who depend on salary to survive are always poor? I am not saying all employed people are poor but the majority of them really are. 

You do not require any research findings to prove this because it is a fact. It is at this point  that you look at salary as a bribe or pay given to you by somebody for you to forget your ambition and goals. 

Every time you think of the monthly pay you forget all other things including your long term agenda and attach your life to your job to a point where you believe that your job is your heartbeat hence forcing  you to live in a 30 days vicious cycle of poverty.

You continuously live waiting for salary every end month and any slightest delay might cause you anxiety, heartbreaks, disappointment and even pressure. 

Salary is therefore just a short term solution to your life long financial problems and therefore cannot in anyway provide you a permanent solution to your many financial needs.  

The solution is that we all need multiple sources of income for us to live fulfilled  lives and the path to it is through INVESTING in a profitable BUSINESS.

SALARY is just a medicine for managing POVERTY. The cure to it is INVESTING. Investors do not necessary depend on a salary but on earnings. 

Take your salary and divide it by  the exchange rate to know how poor you are as compared to before you started your job or divide it by 2,000 hours per annum to know how much you are worth per hour.  If  at all you do not save of which you rarely do then you are destined to die or remain poor forever.

Your worth is more than just salary, salary is just a measure of one's efforts in a particular job which depend on how much others value you. 

We need to learn to value ourselves so that we can measure our own value. I have come to realize that life and work is a trade off against time, effort and reward. To be rewarded more you need to be more valuable.  

Little is said about majority of foreign investors who come and exploit numerous opportunities at our own expense while we remain laborers. They invest in those areas/sectors where we could also  better invest. The truth is they capitalize on our own problems including energy, communication, education, health, agriculture you mention it.  

We need to CHANGE our perspective of life and our MINDSET and instead of looking for jobs let's be the job creators. Let's see OPPORTUNITIES in PROBLEMS around us and by providing a SOLUTION we will eventually turn into real entrepreneurs.  

   

  

   

        

B2B Prospecting Methods

Use 3 MINDSET-CHANGING LAWS to WIN

“Jishinde Ushinde.” What does this Swahili maxim mean? Is it possible to compete with your own self and win? YES. It is possible through   BEING, DOING AND HAVING which are the three stages that seemingly the law of success revolves around and is the common way of life that many successful people live.

1. Being

What is it that you personally want to become in order to be successful?  This is the primary stage which unfortunately most average people skip in the process. This stage involves idea conception, believing in it, visualizing it and confessing it with the mouth.   

You want to start a business? Which type of business? You have the idea already, then strongly believe in it and visualize it through proclaiming it repeatedly. At this stage, you need to develop your plan and strategy and this does not cost much.  

2. Doing

Back it up with the required action. If you want to be successful in your business go find out what successful people are doing and emulate. Stop the wishy washy way of life and start doing and making things happen.  

The poor take huge loans to buy personal luxury cars, furniture and holidays instead of acquiring assets and doing investments. This is pretending to be rich because successful business people take loans to finance their investments and liabilities.

This stage of doing isn’t easy and this is where many people give up.   Never give up if you want to succeed. Look at the benefits, both short and long term and put more strength until you make it.  

3. Having

Ultimately, this is the stage bearing results of the combined efforts of BEING and DOING. It’s the physical reward or a million in your account and the good news is that it comes automatically when you truly go through the first two stages successfully. At this stage you enjoy the results.

Final Word

An old wise man once said,   “The art of courage does not rest in the lack of fear, but in the willingness to take that step forward even when you don’t see the full staircase.”

Therefore, success does not rest in the lack of determination, but in the readiness to take a step to BE, DO and HAVE.  

4 Things Nobody Told Me to Do In My 20s

You claim, “MIMI NI KIJANA,” Probably this is how you literary describe yourself. Young, energetic and curious. Yeah and of course you are, but remember you won’t remain there forever.  

The worst thing is to think that you know everything and being less caring in knowing what to do or not worrying at all about your future.

Basically, apart from the little education you have, know that you lack needed experience and the money to invest in anything valuable now and therefore you should stop fantasizing of becoming like DIAMOND (Tanzania bongo flavor music legend) overnight.      

Listen. YOU are LUCKY that here I am telling you WHAT I WAS NOT TOLD about on how to make good investment driven choices at  a fresh age and escape regretting  at 30s or 40s.

Here are four things that will help you succeed in transforming your future: 

1. Gain new Skills not Money

It is better to be taught how to fish than being given fish. This is the RIGHT time to learn an additional skill like driving, cookery or even playing a guitar. Who knows? You might become an expert driver, most demanded chef or most entertaining musician one day.  

Whether you are still in college or you failed form 4 or even dropped out of school gaining new skills is something important NOW. 

Becoming innovative and being able to create prototypes requires skills and acquaintance needed in venturing into manufacturing. This is only possible if you take a step forward in learning new skills.

STOP wasting time on TV and playing video games. GO find a coach or a vocational training center and acquire new skills.  

2. Grow your Network

Know people and have the RIGHT connections. The worst mistake you can make is not to know people or being in the wrong groups. While at school or in your first job strive to build profitable relationships and networks because at this age you will badly need them.

Cut off yourself from WRONG groups and people because these will simply hinder your progress. Learn to be honest, loyal and obedient in your relationships and dealings.  

Take volunteering jobs, internships or short term jobs that come your way because through them you might obtain future recommendations and affiliates.   

3. Try and Fail

Nobody is perfect so goes the adage. You should not be afraid of failure because most people succeed after going through many shortfalls. Whether you come from a rich or a poor family, don’t settle down, simply go for your dreams.

It is not the right time to sleep but the best time to knock on all the right doors without shame. After ten years you might regret more about the opportunities you didn’t take than those you tried and failed.   

4. Invest in long term goals

Have your own agenda on long term investment. STOP spending every shilling you get in clubs, drinks and leisure. 

The most precious ASSET you have now is TIME. If you use it WISELY you can change your life but if you waste it, the feeling will come back and haunt you like a ghost.

Learn to SAVE your money either through a bank savings account, fixed deposit account or buying property like land which appreciates in value.

I GUESS if you READ this short article carefully and CHOOSE to follow this simple advice, perhaps fifteen years from today, you probably will remember me.

Final Word

You won’t be in your 20s for a lifetime. Soon you will marry, get a vocation, have a family and manage a whole lot of responsibilities. INVEST today when you are still young. 

Remember to go with the MANTRA illustrated in Dr. Reginald Mengi’s inspirational book I CAN, I MUST I WILL.

NAWEZA, INANILAZIMU, NITAFANYA

Successful entrepreneurs are leaders.

BOSS VS LEADER 

Mengi’s Autobiography titled “I CAN I MUST I WILL” resonates with the 4 characteristics of visionary business people.

4 characteristics of visionary business people.

There are four CHARACTERISTICS of visionary entrepreneurs that we learn from Reginald Mengi’s Autobiography that every would be successful entrepreneur should hold dearly in his mind and heart.

These are the same characteristics that Mengi developed through his success journey to become who he is today.

The launch of his book is not only a tribute to his late son Rodney Mutie Mengi who encouraged him to write the book but also considered as a BIG INSPIRATION to both young ambitious and growing entrepreneurs in the country.

As the president pointed out in his remarks during the launch ceremony, Mengi had WHAT TO FACE, and that was POVERTY which he decided to TURN EVERY PAIN INTO GAIN because he hated it and vowed to work hard through ASSOCIATING WELL with people evidenced though his business networks and NOT QUITTING  the game since the 70s.

The title of the book I CAN I MUST I WILL is the right slogan for young growing entrepreneurs to be obsessed with in order to rise up above the heights of success. “If I did it anyone can do it,” Mengi said.

Mengi is very inspirational seen through his acts including dining with disabled people to empowering the youth using his twitter handle.

Indeed YOU CAN YOU MUST YOU WILL by embracing these four CHARACTERISTICS of visionary business people.

Can a POLITICAL MOTTO be used as a MARKETING TAGLINE fit the business objectives and connect with customers?

YES.  The celebrated CCM political slogan of “Hapa Kazi Tu” can be used as a marketing tagline as a nice fit for business marketing because it has a mass appeal and has the following features of an effective marketing slogan.    

It is MEMORABLE

It BUZZES 

The LENGTH is short 

The message is CLEAR 

Has HUMOR and

 EMOTIONALLY connects to customers.

Best business marketing slogans have mass appeal, a tagline that is catchy and calling people to action igniting customers’ interest in a PRODUCT or SERVICE.

The TAGLINE “HAPA KAZI TU” and indeed OUR FOCUS IS ON WORK.

MWANZA HOME DÉCOR TRAINING ST. DOMINIC NYAKAHOJA 28-29 July 2018

The Training aims to empower girls and women with skills in home decoration by making shaggy mats, pompom mats, bottle decoration, wall hangings, lamp shades and khaki paper bags. These handicraft skills provide income generation opportunity through self-employment, contributes towards employment creation and economic growth.

Acquire 6 skills only for 55,000 shillings in designing and making classic home decorations that will lead you to gainful self-employment, financial independence and extra income. At the training, learning materials and lunch will be provided.

You will also horn your business management skills in branding, marketing and pricing and at the end of the training obtain a certificate.

Register NOW and BOOK your sit because space is limited.  

Gaining Handicraft Skills Is an Asset-Mary Marcus CEO of NIC’s Jewelry Sets the Pace.

NIC's Jewelry Brochure 

Mary Marcus is one of a few inspiring growing Tanzanian young women entrepreneurs who has a positive, THINK OUTSIDE THE BOX mentality towards life.  She is the founder of Nic’s Jewelry a business she aims to grow from humble beginnings since 2016.

Regardless of having good academic paper qualifications, she realized that taking training in designing and making modern classic hand-crafted BEADED JEWELRY AND DECORATIONS was a prospective path to take towards acquiring skills for self-employment and earning additional income.

Since she put aside her academic ego and attended the training in 2015 her life has not been the same again and she sees a bright future ahead.

Stylish and beautiful products

Her hard work, passion, creativity and consistency can be seen through her handcrafted stylish and attractive beaded jewelry products ranging from necklaces, bracelets, earrings, key holders and beaded table-mats.

    

Her variety of products are unique and she always thrives to provide her customers with the best including customized products with name tags, or initial letters or perfect colors to match their outfits in special occasions such as on a wedding day. She also provides repair services to old or dented jewelry.

A customer looking stylish in Nic's jewelry

Just like other growing entrepreneurs, Mary also faces challenges which hinder her business growth such as finding for both local and international markets for her beaded jewelry products.

Mary at the 42nd DITF at Saba Saba 

In an effort to market her products and despite these challenges, she participates in various public events such as trade fairs and exhibitions like the current and ongoing 42nd Dar es Salaam International Trade Fair on Saba Saba grounds.

Her vision is to become a recognized expert promoting Tanzania beads jewelry worldwide and through this she aims at economic independence and increasing skills through promoting Tanzania’s culture and tradition.

Mary  participating in
Tanzania Women Chamber of Commerce
Event

This proves the saying WANAWAKE WANAWEZA through self-determination and acquiring quality skills then our girls and women can help transform our economy through gainful self-employment as we head towards becoming a semi-industrialized nation by 2025.

HOME DECORATION SKILLS TRAINING IN MWANZA NOW CONFIRMED

Here comes the opportunity to learn and acquire 6 skills which eventually will lead you towards gainful self employment and earning extra income.

The training will be conducted by Grace Wambui, the CEO and founder of Shaggy Mats Africa based in Nairobi Kenya.

As an additional value, you will also learn basic business management skills including pricing, marketing and branding your products.

The training is scheduled to take place on 28th-29th July at St. Dominic Nyakahoja.