Mkemimi Mungi, Dar es Salaam: Entrepreneurship entails establishing a business and managing it in order to make profit.
Most of the Tanzanians, fortunately, are quite industrious and have positively embraced doing business. They earn their livelihood and that of their children from it.
Starting or running a business successfully, however, is not as easy as it sounds. Just like many other important life ventures, it requires a great deal of courage and risk taking.
That is why many potential business people give it a wide berth for fear of failure and other excuses such as lack of enough capital.
However, it’s important to note that you really don’t need millions or billions to start one.
If you ask most of those who are successful in business today, you might get surprised to find out that some had very little cash when they ventured in to business.
It is their courage and determination, coupled with a lot of patience that made them press on.
One of the most important things to consider before starting business is your ability to keep books.
This is an integral area of business management that many entrepreneurs in Tanzania are not keen on.
Book keeping will majorly be determined by the nature of the business, whether sole or in partnership.
In most of the cases, those in partnership tend to perform better in record keeping than those in sole entrepreneurship due to the need for accountability and transparency.
They therefore get used to making comprehensive recording of business dealings in their various documents like the cash books, etc
Those in individually ran businesses tend to perform poorly since they are normally not under pressure for accountability.
As a result, the habit becomes a weakness that might eventually bring down the business.
To avoid this, one should prioritize on acquisition of these skills just as the other factors such as capital and location.
Whether in school or at work training, every aspiring business person should strive to acquaint themselves with these relevant basic skills because they will go a long way in enhancing quality business management.
As we all know, unemployment is a huge challenge in our country. However, Tanzania’s economy is ripe with a broad spectrum of business opportunities.
It is therefore not excusable for any person to waste their days in idleness when there is so much that can be done.
One only needs to develop the right attitude towards a business, identify a location, look for some finance and courageously start off.
I know of a lady who not so long ago, started a very humble business of selling fried chicken legs and wings.
After sometime, she was able to raise some substantial capital that enabled her open a small café. This was a timely facility that allowed her increase the varieties of food to meet her customers’ needs.
As we speak, her business is doing very well and she is planning not only to expand it but also to venture into another business; selling clothes.
The fact that she already has two employees is a proof that she is making good progress in business.
There are many other potential business men and women out there who are still scared of trying.
My advice to them is, gather enough courage and make that important decision of starting it off.
Open a hair salon, a small grocery, a café or a stationery office. You can make batik, mats or sell fruits and vegetables, groundnuts or any other goods.
There will always be some teething problems, yes, but you will also find ways of tackling them.
But as you venture in your business of choice, remember to keep relevant records of your business transactions. That way, you will know whether you are making progress or not.
pilimungi@yahoo.com