Many times I hear young people being called out to join entrepreneurship as a way of curbing the growing numbers of unemployment in a society where white collar jobs are diminishing. On 7th June 2020 on my Facebook wall I asked if entrepreneurs are made or born and I was pleased to receive different insights as follows;
“Born, everyone has an innate skills, we say people are fires to be lit not vessels to be filled. By making an entrepreneur you are filling the vase if it’s by birth then it is fire. When it is by birth the passion never runs out but if it’s by making there comes a time when burn out occurs and that’s where they quit. We all always say "this is what I was created to do" that simply means being born an entrepreneur.” -
Raphael Okwama
“Entrepreneurship is a skill and no one is born with any skills. We learn skill in the process through daily interactions with our environment. While learning entrepreneurial skills, one needs to develop thick skin, it’s no easy ride.”
- Douglas Mzelo
“Are born but you make yourself an entrepreneur. By discovering yourself and opportunities around you.”
- Caleb Ndinya
“Entrepreneurship is a learnt attribute. The mind in analogy is like a muscle by training; it raptures, heals and grows bigger. We are not born with business acumen but acquire it through operant conditioning. The entrepreneur pursues their business objective(s) with a hindsight of making profits or achieving personal feat. My Two cents on the matter.”
- John Kremlin Maina
“My take is made especially with the surrounding their brought up in or situation. For me, I grew up with a mother who was self-employed and was always involved in her business even if it’s cleaning or delivering on the process was learning tips. After I cleared high school started vegetable farming getting ‘kiasi’ cash from it and from there I have been an entrepreneur.”
- Oduor Gaudencia
All insights are right, and in my perspective entrepreneurs are born, made and educated. Meaning;-
- Born – This is where you find the inborn desire to make change as driven by your passion, grit, dreams, attitude and generally your values. We can’t underestimate the self-drive and discovery in becoming an entrepreneur and that to me means it comes from inside out. If you are lucky, one can be born is a family with entrepreneurial DNA that eventually shapes their entrepreneurial mindset and the entire journey.
- Made – At this level you are guided by an experience, family or mentor on what you need to do after developing an interest in a certain subject which eventually graduates into the next pursuit to create a change and solutions to an existing problem.
- Educated – Either you are born or made at the center of everything is education which can be acquired formally or informally. The interesting part as an entrepreneur, you have to be a lifelong learner in pursuit for the best solution at the moment.
There’s in no one size fits it all, because new problem emerges that will require fresh look and solutions.
Is there a right time to start your entrepreneurial journey? Well, it depends on many factors from availability of resources, the type of business or project, environment, product, timing, the need, your expertise, interest, the size of the business etc.
It is a catch 22 moment, take an example at this rate of pandemic, many have been left unemployed, including myself as a freelance consultant trainer. My overall goal is to train youth in 21st century skills, creative entrepreneurship and personal branding in different youth-led institutions which are currently closed.
One would think the next level of entrepreneurship is the way out during this difficult time, but hold on, it is never that easy to take a quick dive into new territories that you have no clues, no knowledge, no support, zero skills, no resources etc. there are things you need to learn or unlearn before you kick-start your journey.
I have developed an entrepreneurship framework after many years of interaction with different kind of entrepreneurs which I believe can be one of the guides to be considered by the newbie entrepreneurs. This isn’t to say it is the master framework, but it is what I see from a different angle of my interactions and entrepreneurial journey.
#MyTopFour #theFormula
Identify and address PAIN + GAP + NEED/WANT = GAIN
1. The PAIN
Identify the most painful part as experienced by your target group. This can be monopoly of service that isn't responsive to client needs for example long queues, inconsistency, insecurity, pricing, poor services, delays, etc. Remember the pain can be at any point within the production line or customer segment, just identify the area you want to be involved in and provide a solution. A good example is M-pesa services which changed the banking industry.
2. The GAP
This can be for example, low quality service or availability of a product that the customers aren't aware, the lack of information, lack of knowledge, etc. It can be what your competitor isn’t doing which isn’t at the pain level that if introduced as an extra would create a niche for you thus the creation of unique selling point. Alternatively, there might be a good supply of the product, but still exist underlying issues like lack of client feedback, adaptability with changing trends, competitive price, etc. It can also mean introducing a supplementary product that goes with already existing one e.g. bread and margarine, you can have bread without margarine but it tastes different if you combine the two. Another great example in the community is the milk automated machines.
3. The NEED and WANT
Identify the things that are in high demand and must be used by the customers or within the production line. A want can be following the trails of a trend which means identifying things that people desire but can still live without. The underlying issue can be where to source for the product and not even the cost.
4. The GAIN
Making money is one thing, but being part of a wider solution circle is much more valuable to ensure sustainability, wealth and growth. Always aspire for something bigger and money will come along the way. Be an expert, think-tank and pacesetter, build valuable partnerships etc.
As I write this post I'm also in a catch 22 moment, thinking about how to make both ends due to the pandemic. I hope sharing my thought process and journey might help someone in a similar situation. Feel free to share your advice, a must watch video, story towards entrepreneurship journey.
Great further reading;
https://hbr.org/1996/11/the-questions-every-entrepreneur-must-answer
https://www.entrepreneur.com/article/245628
https://www.investopedia.com/terms/e/entrepreneur.asp
Inspiring Quote
Life Series...
- "Success is not final, failure is not fatal: it is the courage to continue that counts" - Winston Churchill
- "Everyone has a plan 'till they get punched in the mouth" - Mike Tyson
#LoveYourSelf #PersonalBranding
- “If you don't have a cheering squad, remember to pull a crowd starts with you as the cheerleader of what you DO, loving what you DO and Doing what you love.” ~ Wilson Masaka, Social Entrepreneur and youth advocate.
