Entrepreneurship is a major contributor to South Africa’s economic success. Key to erasing economic disparity and reducing youth unemployment, which reached 59.6% in the third quarter of 2022, according to Statistics South Africa, is fostering the growth of entrepreneurs.
Following the release of matriculation examination results last week, the employment market is expected to see an increase in applicants.
Wandile Dumakude, the head of face-to-face sales at The Unlimited, stated that the path to entrepreneurial success is long and arduous, and that one must arm themselves with as much knowledge as possible.
“Entrepreneurs can add tremendous value to their business offering and to their consumers via meticulous planning, networking, and personal growth. Dumakude stated that The Unlimited’s sales-focused training approach empowers tens of thousands of matriculants annually.
This, according to Dumakude, has enabled aspiring entrepreneurs to establish scalable insurance sales enterprises. As soon as they receive their matric diplomas, matriculants can submit an application to join the program.
Dumakude provided advice on becoming an entrepreneur:
Not planning is planning to fail
Planning assists entrepreneurs in identifying and allocating resources, assessing risks and opportunities, establishing goals and developing strategies to achieve those goals. Planning can also facilitate improved decision-making and problem-solving, enabling entrepreneurs to avoid costly errors and concentrate their efforts efficiently.
“Planning is vital for any college graduate who aspires to be an entrepreneur. A plan is a road map for achieving their objectives and expanding their firm. “A well-considered plan can guide all the steps necessary to close sales,” he stated.
Develop and maintain your network
Networking can contribute significantly to the success of a graduate aspiring to become an entrepreneur. This is an effective method for expanding your business because it helps you to meet prospective customers and reliable vendors.
Graduates can provide value to their customers and suppliers by establishing and maintaining relationships and sharing resources. More value equals improved relationships and increased confidence in your organization. Networking is also vital for personal development and improvement. Networking is a method to reach new customers, but it is also a way to learn from others and comprehend diverse business ideas and approaches.
Prioritize personal growth and responsibility
Development and responsibility are two essential pillars of entrepreneurial success. Personal development is enabled by accountability, and vice versa. Personal growth can increase an entrepreneur’s market and client understanding and equip them with superior business abilities. This is seen in their leadership impact on their staff and clients.
Accountability encourages personal development and ensures that entrepreneurs continue to progress themselves, their teams, and their businesses by staying on course.
Personal development and responsibility are two of the most important skills we educate our sales teams in order to help them expand their businesses. Oftentimes, we can be our own hurdles, therefore it’s necessary to reflect on and acknowledge our shortcomings. Yes, at the end of the day, we are all human, and no entrepreneur will know and be able to accomplish everything. However, prioritizing their own personal development and accountability could have a significant impact on their business owner effectiveness.”
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