With over 6 decades of experience in the business world, Sayed Mia has cemented his name as one of South Africa’s top entrepreneurs and businessmen – both locally and internationally. Sayed Mia is at the forefront of business in South Africa, is always attending public speaking engagements and attends many prestigious and illustrious events. This past week he attended the South African Council of Shopping Services conferences where he was in the company of many top businessmen and attended a dinner with the Minister of Finance. He has learned so many valuable lessons over the years, lessons which have helped him to continue to strive to be the very best at what he does while inspiring others around him to be the very best that they can be as well. Its like he says, “Believe in yourself, build the self-image of your team and they will naturally become top performers. People don’t look at who owns the company; they look at who runs it”.
Last week we gave you the first part of a two part series of tips for making an impact in the business world. Today, we are giving you part 2. So, if you want to know how to start a business, maintain it, and be successful at it, then keep on reading.
- LEARN UNDER FIRE.
No business book or business plan can predict the future or fully prepare you to become a successful entrepreneur. There is no such thing as the perfect plan. There is no perfect road or one less traveled. Never jump right into a new business without any thought or planning, but don’t spend months or years waiting to execute. You will become a well-rounded entrepreneur when tested under fire. The most important thing you can do is learn from your mistakes–and never make the same mistake twice.
- NO ONE WILL GIVE YOU MONEY.
There, I said it. No one will invest in you. If you need large sums of capital to launch your venture, go back to the drawing board. Find a starting point instead of an end point. Scale down pricey plans and grandiose expenditures. Simplify the idea until it’s manageable as an early stage venture. Find ways to prove your business model on a shoestring budget. Demonstrate your worth before seeking investment. If your concept is successful, your chances of raising capital from investors will dramatically improve.
- BE HEALTHY.
No, I’m not your mother. However, I promise that you will be much more productive when you take better care of yourself. Entrepreneurship is a lifestyle, not a 9-to-5 profession. Working to the point of exhaustion will burn you out and make you less productive. Don’t make excuses. Eat right, exercise and find time for yourself.
- DON’T FALL VICTIM TO YOUR OWN B.S.
Don’t talk the talk unless you can walk the walk. Impress with action not conversation. Endorse your business enthusiastically, yet tastefully. Avoid exaggerating truths and touting far reaching goals as certainties. In short, put up or shut up.
- KNOW WHEN TO CALL IT QUITS.
Contrary to popular belief, a smart captain does not go down with the ship. Don’t go on a fool’s errand for the sake of ego. Know when it’s time to walk away. If your idea doesn’t pan out, reflect on what went wrong and the mistakes that were made. Assess what you would have done differently. Determine how you will utilize these hard-learned lessons to better yourself and your future entrepreneurial endeavors. Failure is inevitable, but a true entrepreneur will prevail over adversity.