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How has Zimbabwe made starting a business easier—or not?

7/4/2014

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*This was taken from the Doing Business report for 2014. 

**DB2014  report data covers regulations measured from June 2012 through May 2013


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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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Now that elections are over, it’s time for fired-up entrepreneurs to shine

8/7/2013

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Elections are over. For politicians, their business has just begun. For serious entrepreneurs it is time to ignite their passion and accelerate their growth. 

Many people I spoke to have the belief that business will improve if there is a new single government, which is not in a coalition as we had over the past five years. Well, here is a wake up call: your success in building a sustainable business relies not upon any government, but upon you! Sitting and waiting for the government, or someone else for that matter, for help is an exercise in futility. Businesses have been built and grown under all forms of governments,from democracy to totalitarian. Entrepreneurs have shone under some very difficult economic conditions. If you want to succeed now, you have to ignite your passion, motivate yourself and get fired-up.

No-one is going to give it to you, you gotta take it

 There is nothing for free in life. You have to work for what you want. Your success or failure depends almost entirely upon your own thoughts and actions. The decisions you make today will determine your future. I really enjoy reading Brian Tracy’s works. One thing he mentioned is that people can only become successful once they accept that they are personally responsible for their own lives. You are responsible for everything that happens to you.

Now is the time to take stock and decide whether you want to be a fired-up entrepreneur or just another victim of the environment. If you want to be a successful entrepreneur or business owner, how many books have you read on how to succeed in business? Do you use your time wisely learning the skills necessary for success, or do you spend time in unproductive conversations and worrying over things you have no control over?

Are your friends people who are working hard and are determined to succeed? Or are they losers complaining and continuously blaming others for all their problems?

Choose now. Half of success starts in your mind, the moment you decide to achieve greatness in your life. You can learn anything you need to learn to accomplish any goal you set for yourself. No one is smarter than you and no one is better than you. All business skills, sales skills and moneymaking skills are learnable. Everyone who is good in any area today was once poor in it.  What the successful have done you can do as well. You just need to get up and start doing something towards your goal. So what are you waiting for?


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About The Author

Phillip Chichoni
SME Business Link

Website:       www.smebusinesslink.com
Facebook:     www.facebook.com
Twitter:          @Chichonip

Business Planning consultant and entrepreneurship champion, SME trainer, speaker and author of the book Business Planning Simplified.

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20 Questions to ask before you start your business.

7/22/2013

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I wrote a post a while ago, titled "Choosing the right business to start: Part 2". In the post I mentioned being realistic. Asking yourself the right questions is one of the keys to a successful business.

You have what you think is a great idea!  Now, ask yourself these 20 questions to make sure you’re thinking about the right key business decisions:


  1. Why am I starting a business?
  2. What kind of business do I want?
  3. Who is my ideal customer?
  4. What products or services will my business provide?
  5. Am I prepared to spend the time and money needed to get my business started?
  6. What differentiates my business idea and the products or services I will provide from others in the market?
  7. Where will my business be located?
  8. How many employees will I need?
  9. What types of suppliers do I need?
  10. How much money do I need to get started?
  11. Will I need to get a loan?
  12. How soon will it take before my products or services are available?
  13. How long do I have until I start making a profit?
  14. Who is my competition?
  15. How will I price my product compared to my competition?
  16. How will I set up the legal structure of my business?
  17. What taxes do I need to pay?
  18. What kind of insurance do I need?
  19. How will I manage my business?
  20. How will I advertise my business?
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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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Are your products the best...?

7/19/2013

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"The global market is quickly arriving on each and every one of our doorsteps and in order to remain in business, we need to aim for "best in the world" with our products.  Have good quality just isn't enough any more.  Entrepreneurship is taking over the world so there are millions of people in business and countless people doing exactly what you are doing.

If you are not continually striving to improve the quality of your products or services, sooner or later, there will be someone providing YOUR customers with a better product, with better service and at a better price.

Competition is everywhere and competition is good as it ensures that each one of us continually improves our products and services.

So, aim to make your product or service the best in the world. Research what others are doing in your industry, see how they are treating their customers and what service they are providing, check their pricing and what they offer and just never stop improving."
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About The Authors


Brendan and Sally Palmer
Business Consultants | Authors | Speakers | Coaches | Motivator
Twitter: @SabreBusinessW

We are a husband and wife team who are passionate about teaching and inspiring people in business to become more successful.

 Be Cool ! Be Great ! Be Alive !

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Why you should start a business now.

6/28/2013

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Everything is FIGURE-OUT-ABLE - Marie Forleo
I wonder if you have had a chance to take a look at our project - Zimnovators. 

Zimnovators is a platform where we profile young successful Zimbabwean innovators. The intention was to inspire the ordinary Zimbabwean to start their own business. I found while working on this project that I myself was inspired by the sheer determination of the profiled innovators, against all odds. It just reminded me that it would be a tragedy if any person did not have the courage to follow their dreams of starting a business. 

While listening to Marie Forleo, I heard her say the most amazing thing - "Everything is figure-out-able" This is the very reason why you should start your business today. This is the alternative mindset that can make you a successful entrepreneur.

Here are some examples for you to take a look at.

1. Your problem: Financing your business

Example Solution: If you find yourself without enough money for your business idea you could work for it an save, borrow from your friend, bootstrap or even barter trade.
Further reading on solutions, click here.

2. Your problem: What business to start

Example solution: Maybe you have money but do not have any business ideas, you could look at your passions, your skills or look at your community and figure out how to make something easier. You could even be an investor in other people's visions. 
Further reading on solutions, click here or here.

3. Your problem: Fear of failure.

Example solution: You could hold on to your day job until it starts generating the income that you are comfortable with. You could also develop your entrepreneur mindset by studying more about entrepreneurship  or getting a mentor.

"You were born to win, but to be a winner, you must plan to win, prepare to win, and expect to win." -Zig Ziglar


I could write a thick book with reasons not to start a business and ways to deal with those obstacles. The point is you have to realize there is not one obstacle you cannot handle. There is always a solution, an alternative. That is why you must start your business and start it today.

Be inspired! 

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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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App for Entrepreneurs

5/22/2013

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I was thinking to myself the other day. I wish there was some kind of application that you can use to help you choose the type iof legal entity you need to go for. I did not do anything about it at the time. I just thought it would be a handy tool to have because the team  here used quite alot of time figuring out the best legal structure for our business. I figured if it takes this long for us, if it takes this much energy to set up and if it takes lawyers and time, then why hasn't some brilliant mastermind come up with an app where you punch in some yes or no answers and the application recommends the best legal structure for you. I would have done it myself but I have no idea how to create an app. I just know what I would like it to do.

There is an app for almost anything though. I just came across a gem for every entrepreneur should have. Problemio. Alex Genadinik developed an amazing app you can use to make starting a business simpler  The idea of mobile business plans, business ideas, fundraising and marketing apps is inspired. 

 Alex observed that entrepreneurs generally make 4 different mistakes. They have business ideas that would not work for them, are unable to raise the money needed to build the company, cannot effectively promote their businesses, or lack of complete vision of all details of the business which leads to incomplete planning and trouble down the road. 

He created this app to help entrepreneurs in these four areas:
  • Business Planning
  • Business Ideas
  • Marketing
  • Fundraising


To check  out the Ploblemio website click here 

Problemio is available on Android, iPhone and iPad

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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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Be Prepared for Opportunities

5/16/2013

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It is said that luck is when opportunity is met with preparedness.

The luckiest people in the world are said to have been prepared for opportunities when they came their way.

The best way to be prepared for opportunities is...

1.Identify a range of different opportunities that you would like to become available to you and your business

2.Think about what it is that you need to do that if these opportunities came your way, you were prepared to take advantage of them

A simple ways to be prepared for opportunities is to carry a briefcase/laptop bag around with you where ever you go with the following in it...

a.Your business cards
b.Your business plan
c.A price list of your products
d.A memory stick with a presentation about your idea/business on it
e.A receipt book in case someone wants to pay you
f.Your CV in case you are asked
g.A prototype of one of your products where applicable

By being prepared, you will be amazed at how many more opportunities you will be able to take advantage of


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About The Authors


Brendan and Sally Palmer
Business Consultants | Authors | Speakers | Coaches | Motivator
Twitter: @SabreBusinessW

We are a husband and wife team who are passionate about teaching and inspiring people in business to become more successful.

 Be Cool ! Be Great ! Be Alive !

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Three Lessons 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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Building A Business And Corporate Legacy In A Liquidity Strained  Economy

4/2/2013

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Zimbabwe has come through the lost decade with grave signs of business principle abuses, economic meltdown and high levels of political instability. This has all contributed to the growth of excessive entrepreneurship and informal business niches within the broad spectrum of the Zimbabwean economy. Needless to say, many have fallen victim to the “bush economics” and “casino economy” model of business and corporate leadership.

Opportunities have been created by various government policies, free market economics, and business resettlements across the country and region. The lack of opportunities is not the challenge for the Zimbabwean business person but his preparedness to turn his business venture into a lasting viable corporate legacy.

Strive Masiyiwa, has done well in building an empire that outlives his existence and his model has pretty much painted the tenants of corporate leadership and entrepreneurship success. Imbedded in his victorious lifestyle are various magnets of entrepreneurship that this article seeks to discuss.

Statutory compliance though excessive and at times monotonous in Zimbabwe, is a key pointer of business success that the Zimbabwean entrepreneur has failed to consistently adhere to. The evasive set up of failing to pay annual taxes and adherence to guidelines of local regulating authorities in business operation are the very signs of short term projects whose destiny is failure.

Business heritages are built on high values of integrity in operation and adherence to standards that are consistent with ethical business ideologies. Integrity in adhering to business operating processes as gazetted by regulators help ensures a reputation and image consistent with victory.

Compliance with the Zimbabwe Revenue Authority for taxation is of utter importance, mandatory submission of returns with the Registrar of Companies and all other forms of annual business licencing positions a business entity for a positive outlook with all its stakeholders. In essence budgetary control mechanisms should be set in order with funding for such obligations given significant priority.

The open market economy has seen the dynamics of competition propelling business success. Business positioning in terms of competitive advantage and a unique selling proposition has become the distinguishing factor for repeated sales and increased turnover. It has become imperative for organizations to focus on internal business process documentation and improvement due to fierce competition from local and foreign players penetrating the market. Service excellence, continuous product and service value addition rank higher within the customers mind. Entrepreneurs and corporate leaders are thus forced to align with the current market dynamics or risk being slowly pushed out of business.

The greatest asset an organization has its people and investing in Human Capital over the long term is a magnet for improved strategic development. Adherence to management schools of thought in handling the strategic human resources of an institution or informal organization sets in motion the base for enterprise development. It is advisable for business leaders to harness and invest in their human resource function for long term benefit and short term reduction values in the bottom line.

Brand Equity has suddenly become a standout point for building a lasting image and corporate outlook in the market place. Strategies that ensure brand visibility and corporate image maintenance is the investment need for business development. This is applicable across the broad economic spectrum of business models including those situated in the informal sector. Trivial matters that include visibility of logo’s on business  infrastructure, corporate colours, business cards, website design, emails designs, and any other regalia that help fortify your market presence are good investments at these junction.

Risk management and cost containment policies in a strained liquidity economy ensure business success. The failure to analyse investment decisions and efficient management of cash flows has been the draw back for most corporate and informal sector businesses. Good business ideas have failed due to mismanagement of funds, adverse investment and poor risk management policies and processes. This has become of significant importance due to the liquidity position of the macro environment of Zimbabwe, which has seen businesses struggle to meet their recurring working capital needs. The incorporation of experts in the areas of risk management and financial management is of relative importance, as it helps management to make informed decisions.

“Rome, was not built in a day”, and building a lasting business legacy is a step by step process that needs co-option of these business principles for guaranteed success.

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About The Author


Evans M. Bangira 
Men Living In Victory

Website:       www.menlivinginvictory.com
Facebook:     www.facebook.com/menlivinginvictory
Email             evans@menlivinginvictory.com
Twitter:           
@MENLivingVictor

We are about rising MEN that will redefine their walk of success, and uphold high Christian values in their day to day experiences.

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