Entrepreneurship in Zimbabwe: Success Tips Despite Economic Mess.

It is a day to remember when long time ruler Robert Mugabe was televised delivering his “Asante Sana” (Kiswahili for thank you very much) speech which was his last address to Zimbabwe as state president before begrudgingly tendering his resignation to the Speaker of Parliament. Mugabe was forced out of power in November 2017 when the masses came together with the military to demand his departure economic mismanagement being at the top of the reasons for action by the aggrieved parties. 

The cause

It is widely agreed that the country’s catastrophic economic woes might have started in 1997 when the government printed money in order to fund unbudgeted expenditure. This poor decision was criticized by economists and rightly so because it triggered serious inflation and the economy has never recovered ever since.  

Economic situation now

Today Sunday the 9^th  of June 2019 in Harare Iam walking through one of the shopping centres built by the large pension  funds for small businesses I am seeing almost half of the space not only empty but gathering dust a sign that the small business left ages ago. One would not need to wonder where they went because walking out of the shopping mall I see them displaying their wares along the main road where no monthly rent is due. At this new location they are now called “vendors”. These days in Harare you can do all your shopping on the streets, you know buying the basics like cooking oil, sugar, bread, clothes. Mabhero (imported second hand clothes) are probably the most famous here because of their cheap prices. At only USD 1 a guy can have two or three shirts. But being a vendor has a serious downside which is unpredictable raids by the municipality police who destroy or confiscate the wares. Selling from the so-called undesignated points is illegal according to local by-laws !

Paradigm shift needed !

Myself like these many other Zimbabweans I also sell to survive but my approach is different. The biggest difference between people is mind set. Of the different mind sets the one that disappointed Zimbabweans the most is that which prepares a person to only seek employment. When unemployment come for example through an economic collapse the person panics. The other that should bring hope is that which prepares a person to seek opportunity. Seeking opportunity for new gold reserves not through gold panning in a closed mine. If you are wired for employment creation then economic collapse is an opportunity (remember The Asian Tigers – Taiwan, Singapore etc ) . I therefore, chose the second one and I have discovered entrepreneurship to be a genuine vehicle for real financial success. It has clear controls imagine it as a car with a steer ring, gear lever, speed meter etc upon which you can lay your hands on and be in charge of your chosen destiny despite ravaging winds. This is more desirable than when the ravaging winds themselves determine your fate as if you are an empty grocery bag.

Success tips

The secret of success is in the ability to control were your life is heading. I will share two very effective strategies I have control over and can deploy any time as I plot my own success trajectory. Through these tips I also hope to help some struggling entrepreneurs who may find answers in same.

1. Don’t be afraid to price in USD because value is a matter of belief.

The perpetual loss in value of the RTGS dollar is a great treachery to small businesses’ efforts and tenacity in an afflicted economy. Working hard selling goods or services in a currency that loses value on a weekly basis is as good as chasing after the wind. Therefore, the small player should not be afraid to dollarize. Some small players have the fear that if they dollarize their customers may not be able to afford. I however, beg to differ in the sense that customers are able to pay in USD as long as they see value for money. Value is a matter of belief so make your customers believe that there is value addition for them in your offering.

2. Master selling skills above everything else

Tel Aviv and Silicon Valley are hubs of entrepreneurship that are ahead of us and probably everyone else on the globe in many ways like availability of billions in venture capital. But one area we are equals is the need to sell whatever we invent. Both big and small need to sell and here if you manage to master selling skills these skills can help you get started even without capital. So of the skills you should master as an entrepreneur selling should be one of those at the top.