There should be a time when we sit, reflect, rethink/revisit and call for order as we prospect the future of our entrepreneurial businesses.
You will all agree with me that it is only through a visionary mind-set that we can remain operational from one generation to another. There is need to deeply look into matters of that particular moment and infuse with what we once thought to be the future of our enterprising.
This should be done strategically especially accepting that doing business is highly evolving and involving. Hitherto most of our SMEs, if they are to do strategic planning, will be just for window-dressing only. It should be serious business especially in this fast-paced global space.
Where machines are now living anatomies as they can talk, exchange and respond to instructions than any time before (infusing innovation and Artificial Intelligence). Sure if you snooze you lose.
Business remodelling should not be an option or seasonal but a continuous practice. Having in mind that it is only when we symbiotically relate the vision and contemporary business model(s) sustainability is achieved. There are many factors/elements/nodes we should then incorporate in our business modelling for an attainable vision. In this edition we talk of a few of these as we think bigger. It’s a journey of realistic craftsmanship as we always share throughout the entrepreneurial life cycle. Where growth is not only in terms of the market share but mostly the bottom line.
Many stakeholders whether internal or external can directly/indirectly influence a business model that supports or is supported by successful visioning. These then form controls of all parts that are pivotal in wiring a progressive business value chain system (meaning that no one should be left behind).
As announced in some of our previous editions all the elements of an entrepreneurial drive for success should be based on a vision that comes from the originator/founder of an idea. Many businesses fail at the conceptualisation stage as they develop a vision that is not adjustable to the current business model(s) and needs of time.
That is catalytic in quickly becoming obsolete and experience a high infant mortality of our SMEs. Visioning with modelling is what most of our global successful brands/businesses have done and are still doing. You can do the same through paying attention and adjust accordingly guided by some of the following prescriptions.
- Business opinion: Brand modification against rebranding of SMEs
- Handling scenarios not covered by IFRS
- Destination branding by tourism operators
- African mass food markets as bases for business identities
To start with, there is need to reorient our entrepreneurial systems for what I call a forecast-flexible visioning. We sometimes over rely and refer back to a promise(s) that we made long time back which most likely takes us back to the stone age. Sure there is need for consistency in doing business that is guided by a vision we made before, but flexibility should be a key ingredient in order to adjust for a fit in this highly dynamic VUCA global economy.
Then as we continuously adjust and guide our business modelling in line with a set vision there is need to have a supportive team with high calibre as business analysts and developers (within the business or hired as consultants). These will work closely with the owner(s) of the initial vision in coming up with precise add-ons that talks to the needs of current markets.
That vision should be guarded jealously. The same reason why we need to deal with professionals who are trusted and capable as business analysts/developers. Of course patenting and trademarking can strengthen the encryption/protection but a combination will do the best. That is the reason why most of our local and international businesses from SMEs to Multinational Corporations (MNC) are rebranding, changing market models (liberalised vs. controlled) and any other form of restructuring amid successful visioning.
This goes on to redirect market(s) focus from East to West and vice versa as witnessed in our Zimbabwean tourism sector’s strategies and trajectories.
A vision should allow that flexibility when time calls.
Most of those who fail to timely adjust will lose that first-mover advantage so as to serve the laggards in a market. Hence a forecast-flexible visioning will always position you as a market leader.
Techno-visioning has become the strongest pillar for our entrepreneurial progression in this era of serious business. Where satellite systems have supported presence of invisible but profitable markets across the globe. It is now just a matter of innovative visioning.
We no longer have to model our businesses basing on a vision that sees customers as crowds in a shop, warehouse or any form of a physical market. Even supporting that higher volumes might not mean higher value. Things will never be the same again.
Here we now have to think and develop online auctioning markets; those that promote B2B and B2C online with a higher profit and less costs. These matters have been part of our previous discussions and we continue to talk and ride on the same until we are fully in the mode for techno-visioning.
We should now think of a business model that eliminates all problems associated with human negligence, misjudgment, misappropriations and sabotage as led by digitalisation. These matters have been rampant and weaken most giants of our global economy. It’s highly avoidable too through techno-visioning.
Till then as we start and grow through enterprising we should appreciate that all the best of our success comes from a fit between the business model(s) we apply and entrepreneurial vision.
Any other matter will follow as guided by these two foundational elements. I leave you to reflect as we prepare for another level in coming editions.
Dr Farai Chigora is a businessman and academic. He is the head of business science 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@example.com, WhatsApp mobile: +263772886871, Website www.fachip.co.zw