An entrepreneur is someone who finds a gap in the market and simply fills it. The word ‘simply’ has been used lightly in this case. It is a person who starts, organises and manages an enterprise. South Africa’s entrepreneurial growth is steadily increasing. There are many problems in South Africa, but one of the biggest, perhaps the biggest, is the economy. Some believe that the answer to saving the economy lies in entrepreneurship.
Just because it might be the answer does not mean that it will be achieved easily. The odds may not be in your favour. About 7% of adults in South Africa participate in entrepreneurship. The following young adults are among the 7% who have shown initiative and willingness to take risks.
When it comes to school, you might spend most of your days keeping your head down and focusing on the task at hand. Twelve years of schooling, however, is a long time to not have acquired a hobby that seems to ‘feed your soul’. Hobbies are the activities we do in our spare time that we find enjoyable and according to studies, you excel when you love what you do.
There are a few lucky people in this world that love their jobs but not everyone is always in favour with Lady Luck. Many people pursue careers that pay the bills and then continue doing their hobbies in their spare time. But, when you’re searching for a career option that you will love getting up in the morning for, ask yourself: ‘What do I love doing?’
There is a lot of debate when it comes to transforming your hobby into a profitable business but it has been done before. So, how do you make that dream a reality? For many the answer is entrepreneurship.
Obakeng Ngidi founded BY FORCE, which is a youth economic and leadership development movement that aims to create a culture of entrepreneurship and leadership in SA youth. He spoke briefly to TeenZone about what it takes to be an entrepreneur. According to Obakeng, you need to have a DREAM.
D = Drive
This is the energy that it takes to keep moving. It takes drive to create something from nothing and to turn an idea into a product. Drive allows you to wake up in the morning and go to bed at night knowing you have given your all to something that only you can see, and nobody else understands.
R = Resilience
Starting a business stretches you; when you are stretched, you are volatile and vulnerable. It is important for you not to break, but to keep your strength and shape throughout the difficulties – of which there are many in the world of entrepreneurship.
E = Enterprising
Being enterprising is the ability to creatively navigate through the industry that you have chosen to trade in. It makes it easier to try out new things at the right time, and to make the crucial decisions when it matters most. This keeps the vision of the business clear when nothing else is. So be creative and push the boundaries of the industry you choose.
A = Attitudinal Adjustment
Your attitude towards life will determine your life experiences. Everyone is a potential buyer of your product or service. Adjusting your attitude begins with simple day-to-day interactions with the people around you. Understanding that people buy into who you are before they buy into what you have to sell is vital. Your attitude towards other not-so-exciting aspects of business will determine your success or failure.
M = Militant Focus
You need to focus on the important things. How you spend your time, and with whom, cannot be taken for granted. Priorities change as you grow into your entrepreneurial aspirations. Watch what you say. Guard your thoughts. Surround yourself with ambitious people and cut pessimists.