21 Aug World Entrepreneurship Day
So it’s World Entrepreneurship Day.
I have many a times wondered what makes one an Entrepreneur in SA. Many people throw this title around to any person who has a dream, an idea, a vision, an initiative, well I beg to differ.
An Entrepreneur is a person who creates a system that can generate sustainable revenues.
Whats a system?
A system is a set of detailed methods, procedures and routines created to carry out a specific activity, perform a duty, or solve a problem. So a Business is a system, a NGO is a system and a Co-Operative is a system. Let me talk about Business because I have better experience and understanding of this system.
We have “People” who come up with ideas in the morning and by the evening think of themselves as “Entrepreneurs” who can slug it out with the best of them. I guess this is partly because the public have literally seen “People” go from broke to billionaires within a couple of months based on BEE deals or signing a massive Tender, we all know the South African Dream.
But are these people genuinely entrepreneurs:
- Do they solve a problem?
- Is there a method to their business process? What duties do they perform?
In most thriving economies one of the most important aspects a business requires to gain traction and the attention of its clients is its Branding, Marketing and Positioning. I battle to understand why so many companies with none of the above are able to thrive in SA. Multi million rand companies that you have never heard of, never seen advertised, don’t know about their services or products and yet they thrive in SA.
Building an effective system?
I understand that many of these companies are B2B and don’t have a public/consumer type of service or product but surely they would invest in communicating to their future prospects even if they have a monopoly in their specific sector. I would strongly urge any kind of “Entrepreneur” or “Leader” of a business or any person who is looking to start a company, to firstly define their solution (what problem does their business solve) in so doing they will begin to establish a Brand, through the process of establishing your brand you will get a deeper understanding of the needs and wants of your clients and prospects.
In order to create a strong brand it’s important to spend time investing in research, defining and building your brand, after all your brand is the source of a promise to your clients.
BWD can help you create an identity for this promise to your clients. This identity will be the first thing your clients and prospects interact with, it therefore needs to set your company apart and tell us what we can expect from your company. There is an intense battle for clients in the real world, and your company needs to put its best foot forward and communicate to the world who you are, and What you represent.
So whilst you may have a million dollar Idea, Plan or even better a System. Don’t overlook the essence of the company, the identity of the company, the perception clients or prospects will form by having a sub-stand Brand. We’re here to listen to your ideas, plans, visions and translate these graphically into something that would attracts and retain loyal clients.
May every Entrepreneur renew their commitment to ensure they differentiate their business in the minds of clients and prospects, so ultimately the company creates Brand Advocates.
Happy Entrepreneurship Day.