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Pondering on Partnerships (Part 1)

10/16/2013

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It goes without saying, but I will say it again... starting a business is really tough. Even before you launch your business, you have to write that business plan, secure some funding , register your business and get patented. That is all done before you open your doors to the world. Then once you open its marketing, selling, planning, reviewing and re-planning. Let us not forget customer feedback and this is just to mention a few things of the many you have to do to start a successful business.

It is therefore no wonder why 85% .. yes 85% of new businesses fail in the first year. 
 
You basically need all the help you can get when dealing with the emotional and mental tolls that comes with setting up a new business.

Partnerships are one way you can get stronger and last longer. More often than not a good partner can bring something different to the table than you do. The partner complements your skills and personality.

"In a world where competitors can come from around the corner or around the globe, it is increasingly difficult for firms to operate in isolation and establish and maintain a valuable competitive advantage" - Greg Fisher 

I have been studying successful businesses and one important thing I identified was that most huge businesses we admire today were in fact started by partners and not sole entrepreneurs. Take a look for example at Microsoft, Apple and Google. They are were they are today because they took advantage of partnerships when they were starting up.

This is why I have decided to do a Pondering on Partnership series of posts. All about partners so stay tuned for the next post on choosing the right partner.

P.S - What do you think about bringing on a partner when starting a new business? Please comment below.

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About The Author


Vongai C Mudzamba 
Co-Founder Zimbabwe Entrepreneur Zone
Twitter: @vongzie


I am and always will be inspired to inspire.

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Three LessonsĀ From Exercising

5/13/2013

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Am sure most people have tried to lose weight or get in shape at one point in their life. Recently I have been working on toning and getting fit. I realised while doing this that this was a journey similar to starting a business that makes a difference. The concepts are similar and we can learn from them and apply them to our journey as an entrepreneur. Here are some of the lessons I learnt.

1.       It takes more than one night to be an overnight success.

When I decided to get in shape, I went for a jog around the block; I cut of sugar from my tea and all sorts of different activities. I was so excited, and I wanted to see instant results. I wanted somehow to be in shape and have that great body and be super fit after 3 days. Obviously it did not work that way. Actually I think I looked bigger and I think my scale is broken because I actually gained weight. It can be after a few  weeks of constantly working on the exercise routine that people start noticing. A lot of times people assume this is how it will work when starting your own business. You are going to walk up to the very first person and they are going to buy your product, they are going to invest in your vision and you are going to make a massive profit. Wouldn't that be awesome! Then when you get into it and start something you find all these barriers and even some people who recommend you give up! Do not be turned off by this. Just like exercising, results can take more than one night to become an overnight success.

2.        It is not always fun but the results are!

I never feel like exercising. I get home and I had a long day in the office so I just want to relax in front of the couch and in the morning it’s too cold to actually get up earlier and exercise before I go to work. I wish there was some kind of pill or medicine you can take that miraculously gets you into shape. Then there is the small issue of watching I eat! I love burgers, chips and custard donuts and in order to make sure I lose the weight I had to give those things up. This reminded me of all the sacrifices I have to make everyday for my business. Sometimes you have to work a little longer than most people, sometimes you have to give some luxuries for the long term vision. It will definitely be worth it in the end.

3.  You have to be intentional

In my journey to weight loss and keeping fit i have had to be apply different strategies. Not only do i have to run, but i also need to watch my weight. I had to intentional with the exercises i chose. I only wanted to lose weight, work on a flat tummy but i did not want to get the big biceps and muscles so i decided not to use the heavy dumbbells  Similarly you have to use various strategies to build your business. Make sure you have a business plan to constantly assess if your strategies are appropriate for your vision. Be intentional about where you want to go and how you will get there. A business plan is a blessing here.

These are just some ways that exercising is similar to starting a business. If you can think of other ways the two are similar please write it in a comment below.


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About The Author


Vongai C Mudzamba 
Co-Founder Zimbabwe Entrepreneur Zone
Twitter: @vongzie


I am and always will be inspired to inspire.

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