Entrepreneurship and Leadership skills are vital to the success of any business venture at any level, from starting a small one man band business to running a global super brand with offices in different continents around the world.
‘Entrepreneurship has been defined as the development of a business from the ground up- coming up with an idea and turning it into a profitable business. But while the definition of entrepreneurship maybe simple its execution is much more difficult’ on the other hand Leadership has been defined as a process of social influence, which maximizes the efforts of others, towards the achievement of a common goal.
We currently live in very interesting times and at the same time turbulent times. Tom Peters the international business guru and author of The Circle of Excellence said that we now live in a very dynamic and turbulent world.
We are exposed to thousands of pictures, sounds and smells on a daily basis and our senses get a consistent bashing all the time, however, as entrepreneurs and leaders we must have what I call the GOLDEN X factor to be able to deal with all these variables. The golden X factor will enable you stay on course and deal with the challenges that will come along with running a successful organisation.
Most African countries especially the sub-Saharan ones are educating their nationals towards developing the capacity of entrepreneurship and leadership, South African and Ghanaian governments have invested heavily in developing this vital capacity by positively promoting the right culture as it will drive economic development, harness internal resources and create employment to mention just a few of the benefits.
Apart from the economic fulfilment entrepreneurship also offers individual fulfilment to individuals with entrepreneurs now breaking through the barriers of class, age, gender, sexual orientation and race. Entrepreneurship is a fine art and to be a successful entrepreneur you most certainly need a different mind-set and a paradigm shift from earning a weekly or monthly pay check to becoming the hunter 24/7 365. The mind set of an entrepreneur and the mind-set of a pay cheque earner is like chalk and cheese. Miles apart is the phase that comes to mind.
Developing and growing into a successful entrepreneur is a wonderful feeling a bit hard to put into words however, I will add a note of caution to anyone whom wants to embrace entrepreneurship. A million questions come to mind, what’s your level of tolerance? How do you deal with failure? What does failure mean to you? Do you believe in the concept called failure? How do you deal with rejection? How will you deal with success? And the list of questions goes on.
Leadership is a key driver in successful entrepreneurship, in fact it’s a must have ingredient in your tool kit. The ability to sell your entrepreneurial vision as a leader is a must bearing in mind as a leader you will need to persuade the troops, handle conflict, motivate your human capital when they are feeling down and also meet their spiritual needs. Good leadership requires you to be selfless, you are last on the list and don’t forget leadership can be very lonely.
So if you fancy building a global brand from scratch, or you just want to build a small family business then make sure you brush up first on your entrepreneurial and leadership skills as this will greatly increase your chances of success in the very unforgiving world of entrepreneurship.