4 Ways To Become A Good Entrepreneur
Entrepreneur, always seek to have a competitive edge in the market. People are thinking each hour. So if you “sit” on your business and opt to be regular, you will fall under the radar of once great companies. Like My Space, Yahoo, Uchumi, or worse.
But how does one gain a competitive edge? It is simple!
4 Ways To Become A Good Entrepreneur
Always deliver more than expected
My first time to come across this is when I was actually ranting on Twitter. The government was not putting in enough effort to support Ugandan Startups. A tweep from the UK quoting Larry Page replied, “Always deliver more than expected”.
Though I continued with the rant, these words had sunk to my heart.Since then, I always ask myself if what I am delivering is what one expects or more! Just imagine waiting to watch a game. You are expecting the decoder to load in the usual 5 minutes, but it unusually loads in 2 or less.
How would you feel? Astonished, right?! One peculiar example I can cite is what happened recently when I started The Start Up Advisor alone. I invited friends to like my page and one Ugandan in Minnesota was so fascinated by the idea.
He sent me a message in my inbox expressing his interests to partner with me. Then followed it with a Facebook call.
I am not a fan of internet calls – apart from Skype. Because I expected a lot from Whatsapp Calls but they disappointed me. Facebook calls are so clear! See?! They delivered beyond my expectations, and now I want to call almost everyone.
2. Think and act faster
As an entrepreneur, you know that great ideas are born every day and sadly, die every day. Nothing kills ideas in this world more than waiting! We are always waiting for the perfect business partner, perfect salary, perfect everything.
Rich Dad Poor Dad says, “If you wait for all lights to turn green for 5 miles before setting off, you’ll get nowhere.” Richard Branson’s story gives more in-depth insight about starting when you’re not ready. The fact is that we all start in the same place: no money, no resources, no contacts, and no experience.
The only difference is that some people — the successful ones — choose to start anyway!
3. Think of what your customers will need – not what they need
We all know the Nokia story – if you don’t, you need to read it. In the words of Steve Jobs; “Often we tend to focus on what our clients need now, forgetting what they will need tomorrow.” There’s only one thing that will keep you in business after tomorrow – what your clients will need!
I encourage you to spend 50% of your time maintaining the status quo. Then 50% thinking about what your clients will need. It could be as simple as how they pay for the service or product. For example, I find it hard to walk into a banking hall.
But if you talk about using Mobile money, then we are on the same wave length. Actually I believe e-wallets will be the way to go in Uganda a few years to come.
One company that has been successful in achieving this is Google. Whenever I think of a feature to make my work easy, I find out Google already released it a few years ago. So why don’t you start “googling” your business?
4. Don’t bargain with poor quality work
I have made myself a quality oriented person. If I make a product and I don’t like it, I don’t supply it to anyone. Actually as long as my instincts say no, then I stop there and then!
Of course some people are successful in selling substandard work. But I wouldn’t tell you to do something like that. There is a time I attended an entrepreneurial camp at Makerere University. One of the presenters summed it up by marketing a book whose title I won’t mention. I rushed to buy the book because the great presentation. I will never make a mistake of buying anything he’ll ever market.
Of course you won’t produce quality work all the time. Sometimes circumstances might be out of your control. For example, there’s a time I was to supply paper bags to Design Agenda Café Bar and Gallery. But I got issues with the paper quality.
This was an issue beyond my control since the paper comes from Kenya. But still I explained it to them and they were quick to understand since they know I am a quality oriented person!
So if you can make your work quality, the day you’ll mess up it will be understandable!
Whatever the industry, getting an edge over the competition is crucial for your business. Or else, the competition will swallow you alive. If you want your business to thrive, then start applying the above in the daily running of your business and you’ll be on your to being the best Ugandan Entrepreneur!
Credit: Peter M. Kisadha
The writer is the founder of The Startup Advisor
Derrick is a writer, researcher and tech enthusiast with a passion for economics and how things work. He likes to remind others that they are all made of star stuff.