Even though it might sound superstitious as to what magic relates to in our daily lives some of our successful entrepreneurs have made it from their experience and survival in the turbulences towards successful growth.
Of course it is not an easy road but once at the apex the returns are worth the drive. At the inception of our start-ups we infused growth as a barometer for success.
The same still stands as we discuss. We have to operate guided by processes that are synergic to push for profitable expansions supported by the initial vision.
Yes in the previous talks we also uncovered economies of scale that are brought by the same growth but now we shade more light on the wonders that have been recorded by some achievers of our time.
Today we talk about global automobile brands, retailers and exclusive clothing producers who have mastered the game well by expanding their horizons from one pole to another.
Now we relate to the Toyota brand, Gucci and Nike as if made in Zimbabwe. We can do the same in our global markets as a fortune trackers toward magical growth.
As abovementioned progression in everything we do is always measure of longevity. For the same reason as practitioners we always re-visit our product life cycle (PLC) together with the business model canvas (BMC) to understand where we are towards the same achievement.
Whatever we use as a leading business strategy seem to be influenced by changes from time to time.
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Meaning that as the business grow from the inception up until dominating a certain market(s) as a leader/influencer there is needed to be guided by some anticipated benefits so as to keep adjusting for better.
When a business grows it moves closer to the best in the form application of contemporary marketing practices, innovative retailing, data-led production, highly rewarding partnerships and networks for further growth.
To start with is the tooling for continued wide-awareness where the entrepreneurial business will then move from the limited traditional forms of mass media to those customised multiple forms of linking with particular markets.
Yes we tend to get more comfortable in our small operations restricting ourselves to what we think is the best tool (s) for our media publicity.
But as we grow our eyes open more in search of better/best media for our lasting publicity. Another added advantage is the elimination costly mass media since we can now use specialised one that is designed by us for our specific markets.
That is the same reason why digital marketing is dominating as a contemporary philosophy to support such growth in the contemporary.
This is not out of serendipity but an outcome of growth as the desire to reach wide markets increases at the same time.
Partnerships for higher shareholding value has always been part of sustainable growth by our various businesses.
In the same process we are able to associate with big investors and key achievers who will further add on to our desired profitability and fame.
That is the same reason why most of our growing businesses have found a bigger space and attractiveness on local, regional and international stock exchange.
They have developed that capacity and now confident/accepted to join these platforms of investment.
Where steel sharpens steel as we invest/mingle with big investors like us too for continued growth.
In fact that is the only closer ingredient for turning a SME into a multinational corporation (MNC) and even develop own-franchises that further penetrate into global markets and weaken any competitor power along the way.
Previously we were operating from a manufacturer dominance perspective which could not give much to us besides averaging the costs of production.
The problem is that even with all the costs proven and controlled it does not ultimately mean that profits will be realised.
Remember the disadvantages of a production orientation which makes us have a market myopia.
When you grow tables will eventually turn around making your entrepreneurial business have a retailer dominance.
This helps in getting closer to the customers to become a market leader rather and become an industry-wide brand for reference by current and future customers together with any likely competitors.
This is because competitors will become afraid to challenge this growth. In fact entrepreneurial growth provides business muscles as defensive mechanism for sustainability.
As you further grow, the reason to know your customers better becomes so clear.
Here data-based marketing becomes key as the business is forced to do a data search, analysis and storage of its current and future customers.
The same then is used to make decisions for ranking customers according to their frequency of consumption, preferences, demographics and any other.
Remember kiss goes by favour as it is reciprocal in the sense that when a customer see the business is making an effort to know his/her needs and wants will become loyal and further refer others to consume your products/service. It is magical to say.
There is a tendency of being compared by bigger businesses when you are small especially from an agency outsourcing perspective.
It is unavoidable to engage with a business agencies in the current world of business as one cannot do all things at once and alone.
Those in the freight and clearance industry can confirm to this viewpoint.
When you grow these agencies will go any step away from the normal/usual to ensure that your desires are taken care of first at every stage of doing business.
They will become more accountable to even use their resources in advance to make sure that excellence remains a leading connector of your whole value chain.
Till then, food for thought as we continue to grow in our entrepreneurship.
- Farai Chigora is a businessman and academic. He is the Head of Management and Entrepreneurship at the Africa University’s College of Business, Peace, Leadership and Governance. His Doctoral Research focused on Business Administration (Destination Marketing and Branding Major, Ukzn, SA). He is into agribusiness and consults for many companies in Zimbabwe and Africa. He writes in his personal capacity and can be contacted for feedback and business at [email protected], www.fachip.co.zw, WhatsApp mobile: +263772886871.
