excomag issue 12

Exhibitors’ Corner

The platform to grow, connect and equip SMME businesses. March 2023 - Issue #12

ISSUES STRONG

MANAGING DIRECTOR (DIAMOND BERRY ENTERPRISES)

Nhlanhla Dabengwa

CHIEF EDITOR

Mellisa Tshuma

EDITORIAL TEAM

Jennings Chibike

Khayelihle Sibanda

Rebecca Mutote

Anittah Munyaradzi Chidonhwe

Loveness Mpofu

ADMINISTRATION

Charllote Mpofu

Gugulethu Ncube

MARKETING & SALES

Charllote Mpofu

Magazine Design

David R. Papayi

DIAMOND BERRY ENTERPRISES

Office 709, Charter House Cnr. Fort St. & L. Takawira

Bulawayo, Zimbabwe.

MARKETING & ADVERTISING

TEL: +263 29 226 2993

CELL: +263 71 570 0593

EMAIL: newsroom.excomag@gmail.com, info.diamondberry@gmail.com

PUBLISHED BY DIAMOND BERRY ENTERPRISES

Exhibitors Corner www.diamondberry.co.zw / www.excomag.co.zw

WWe live in a global village and everyone you will meet will have something that you need or know something that you don’t know. Networking has become a great aspect in our business industry as it opens doors for better enriched ideas from various individuals. It’s about that time again where your favorite publication feeds and nourishes your heart and mind, we hope you will be enthralled by this issue. Many great leaders will attest that one of the preeminent and most effective ways to develop as a leader is to expand your network, of course it goes beyond updating our Linked-In and all other social media platforms. The upcoming and new entrepreneurs tend to think keeping boxed in their small corner offices protecting their concepts is a great trait of a leader. Little do they know that interacting should be one of your greatest agendas if you want to see yourself grow. Networking is not a stealer of time and finances and should be scheduled like any other activity by a trailblazer. Popular to the saying “if you want to go fast, go alone. If you want to go far go with others”, one should never underestimate where the company of others can lead. Recently we hosted an SME Indaba whose mandate was networking, growing your business and to inspire trough the different stories that are told by the unique speakers at the event. Delve in and read pieces from Zimnat, Keith Heywood and Liquid Technologies amongst other names.

In this issue we profile Msindazwe Ndlovu of The Noble Savage who has taken the saying from “rags to riches” to a different dimension. Rags are usually worn out and torn materials many will rid of because they have no use of. Here we meet Msindazwe taking these ‘rags’ (plastic, glass, cans) and making ‘riches’ from them through the recycling of waste materials to produce kitchen tops, pavers and solar roof tiles. What better way to achieve the sustainable development goals than protecting our environment through recycling waste materials into construction resources.

The mix of content here is quite wide and diverse but, as a leader, it’s vital to have a wide and diverse range of insight and knowledge. We hope you will find the nuggets here insightful, stimulating as well as valuable in your life and your work. It’s been a pleasure to know how some of these have shaped your journey. For comments and feedback please write to us on newsroom@excomag.co.zw.

Be inspired, be motivated!

If you want to go fast, go alone. If you want to go far go with others

BE INSPIRED, BE MOTIVATED.

Melisa Tshuma Chief Editor Excomag

EDITORS NOTE

THE IMPORTANCE OF SMES FOR OUR ECONOMIES.

MANAGER’S REMARKS

SMEs are generally thought to be the backbone of any healthy economy; they drive growth, provide employment opportunities and open new markets. SMEs already contribute more than 50% towards GDP.

Nhlanhla Dabengwa MD. Diamond Berry Enterprises

Small and medium-sized enterprises or SMEs for short are extremely important for the economy. From local shops to small tech firms working out of serviced offices, the majority of companies in Zimbabwe are SMEs. In 2017, the Reserve Bank of Zimbabwe (RBZ) identified over 60 000 SMEs, making up 60% of all businesses in the country. There were thousands of (companies with 0-9 employees), which accounts for 60% of all businesses in the Zimbabwe.

SMEs operate in diverse sectors, such as textiles, agribusiness, information and communications technology (ICT), and construction.

WHAT REALLY ARE SMEs?

In Zimbabwe, ZIMRA classifies SMEs as businesses that employ between 5-40 people with annual turnover and assets from as low as $50,000 to $2 million.

Broadly speaking, there are two main types of businesses operating within the SME sector. The first is the informal ones these are unregulated businesses, usually run by people unemployed in the formal sector of the economy. Examples are tuck shops, hawkers, market gardeners, pavement sellers.

The second type which is often referred to as ‘modern SMEs’ – is particularly innovative where technology is concerned. They come up with creative solutions to old problems, and introduce new concepts or ways of doing things; most startups fall into this category.

HOW SMEs SUPPORT ECONOMIC GROWTH.

SMEs are generally thought to be the backbone of any healthy economy; they drive growth, provide employment opportunities and open new markets. SMEs already contribute more than 50% towards GDP, they also supply and anchor big retail businesses with products, services and even markets.

SMEs GENERATE LOTS OF EMPLOYMENT ACROSS.

SMEs also create a group of skilled and semi-skilled workers to support future industrial and business expansion, formal SMEs employ a staggering 70% of the workforce in Zimbabwe. Small businesses are particularly effective when it comes to supporting local economies; they bring growth, prosperity and innovation to areas outside of our main cities, which facilitates the equal distribution of income and wealth. Employing skillsets that would not necessarily be employed in the mainstream economy and providing needed experience to emerging workforces.

SMEs CREATE COMPETITION AND ENCOURAGES FURTHER INNOVATION.

SMEs provide the economy with a healthy supply of new skills and ideas and make the marketplace more dynamic, many innovations and inventions across the globe emanate from the SME sector and they disrupt markets and make lives easier for consumers at large. Clearly, SMEs have a firm foothold now, thanks to advances in technology. Entrepreneurs are identifying new markets and setting up SMEs to open up these new markets.

SMEs CAN RESPOND AND ADAPT QUICKLY TO CHANGES IN THE ECONOMY.

Because they are usually more customer-orientated or understand the needs of their local community, small businesses are more likely to survive economic downturns too. Across every sector SMEs dominate in quantity and that plays a huge role in their ability to react swiftly to market needs. Government has identified and noticed the importance of the sector with pronounced statutory policies that include a specific involvement in the National Development Strategy NDS1.

Formal SMEs employ a staggering 70% of the workforce in Zimbabwe

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AWARDS AND ACCOLADES

• Junior City Councilor for the Bulawayo Ciy Council.

• In 2018 was selected in Africa’s 1000 entrepreneurs for the 2018 Tony Elumelu entrepreneurs’ foundation

• ZITF Innovators forum manufacturing 2019

• 2 hackthorns I have won

• ILO green enterprises most innovative green business runners up 2019

• Value creation challenge Zimbabwe overall winner 2022

• EY Africa innovators challenge 2022 top 4th position

• Top innovator 2022 African influencer awards.

•

Briefly who is Msindazwe Ndhlovu and The Noble Savage?

MSINDAZWE NDHLOVU popularly known as the Active CEO, is a techpreneur, ecopreneur AFRI capitalist, an innovator and an entrepreneur. I love to solve problems for our day-to-day challenges. I was born and raised in Bulawayo Zimbabwe. At 17 I was elected to the Bulawayo junior city counci, l and at 19 I served as a missionary in the South Africa Durban Mission. This is where I had a lot of different responsibilities from trainer to district leader and zone leader where I can say I was described as a very solid missionary in my service. I believe these groomed me from an early stage to where I am today.

The noble savage is a construction company that makes innovative building materials that utilize waste to product. We recycle waste plastic and glass to manufacture eco-friendly building materials which are light, strong and durable to make rooftiles, pavers and kitchen countertops and we have prototyped a solar roof tile.

How did you get your idea or concepts for your business?

After visiting my aunt and a hailstorm destroying her roof I remember looking into her eyes and seeing so much pain, anguish,

confusion and worry and I told myself no one should ever have to go through such and a miracle happened. I had a dream with detailed formulars and dimensions that I wrote down and I started working on it and that’s how I got my idea and every product I have done since then I dream it.

What was your mission on the outset /from start?

For me it was to make a roof tile that could be affordable and could withstand hail for my late aunt. To improve the quality of life by making world class glass building materials from waste.

How did you charter your business?

After having the dream in 2017 I started off doing experiments in Tlokweng in Botswana after hours till I got a few samples right then I kept developing this till we had good products. I then moved back home and started working from my parents back yard in Morningside. I would work through the night so that they don’t call the fire brigade on me and in April 2021 we got an industrial space.

How many employees?

Currently we employee 11 full time. And 80 in-direct commission based workers.

CEO THE NOBLE SAVAGE

MSINDAZWE NDHLOVU

What services or products do you offer as business?

1. Waste management recycling of plastic, glass, cardboard box, cans

2. Kitchen counter tops.

3. Rooftiles (solar rooftile)

4. Pavers

To what do you attribute your success?

I attribute my success to 4 things:

1st is my father for pointing me towards the right direction he’s late but he’s the one who encouraged me to be an entrepreneur.

2nd Grit I am not the smartest person but I am the hardest working, I don’t quit till I solve the problem.

3rd Networks, your network is your net worth, being able to build networks and relationships with people.

People I can list Mr Zimutho of Desas panel beaters, Mkhululi Nyathi of Makadu Group, Rudo Mcloud Mungofa and Diana Shirto of Stimulus Africa, Jackson Dlomo, Mzingaye Ndlovu of Steward bank, Zibusiso of Ndeza Capital, my family and the team that I work with. Each one of these people have played a critical part in my journey as an entrepreneur through mentorship, guidance and helping me at times I felt like there was no way out.

4th Luck, luck favours the prepared for you to be lucky you need to lay the ground work so that you can be blessed with it. Every opportunity I have had I have had to sit down do my part and everything else falls in to place.That is luck because I prepared for this. I thank Tony Elumelu and Old Mutual Group and Zimtrade. Call it a sprinkle of luck!

What is your company’s goals?

Now we seek to be the leading producer of low-cost building materials that incorporate high technology to help accelerate Africa’s transition to clean renewable energy so that everyone achieves more.

Any uniqueness about your company?

We make products for the environmentally conscious individual who seeks for something astatically beautiful affordable and durable. Everything we make we use waste as our primary raw material.

What is your responsibility as the owner of your business?

I am the CEO my duty is divided in to 4 main responsibilities:

1st to grow the company

2nd management and operations to make sure the day to day running of the company are smooth and the managers are executing their responsibilities.

3rd this is my most important of all responsibilities is to innovate and make products that will make our quality of life enhanced

4th report to the board

What made you choose this type of business?

I did not choose it, it chose me. I never in the longest period of my life ever considered waste as a business till I had that dream. From then I have worked on that and my passion is to solve our waste challenge and make affordable building materials and help our vulnerable members of society make an income. For me money has never been the biggest driving force but making a change in the world so that no one should ever have to go through what my aunt went through.

Does your company help the community?

Yes we are big on cooperate responsibility we have created over 80 indirect jobs for the most vulnerable members of society and un-

skilled people with no option to get an income. We are always constantly looking for ways we can work with the community through clean ups. We also regularly do the national clean ups and always work with organizations that do these.

Is the customer always right?

For us we don’t say they are wrong either but we make sure they leave happy.

If you had advice for someone just starting out, what would it be?

The greatest advice will have 3 parts

1. Just start its easier to ask for forgiveness than permission.

2. Have a WHY because it gets hard and lonely depression is real but if you have your why that’s what will hold you to, the end when everyone has given up on you.

3. To the innovators remember you are not crazy make the things you wish someone had made for you.

What is in store for TNS in the future?

We are an innovative company and we are bringing tech to our building materials. And we are expanding across our boarders. And creating innovative workshops as we did with NUST last year.

Your social standing?

I am a religious man who is very involved in his community I volunteer with the police force BACForce (business against crime forum). I am active in my neighbourhood. I could say I am in good standing in my community.

PROFILE ZORA SKIN CARE

Ms. Sarudzai Tafirenyika founder and director at Zora Skin care, an emerging enterprise that manufactures skincare products, which one can use without changing your complexion. Zora skincare products are manufactured from edible raw materials like honey and other natural products which makes the products hundred percent organic and healthy.

Zora skin care was established in 2021 but its origination can be traced back to 2018 when Sarudzai was still doing other cosmetic products. Chronicling the challenges faced since inception, which had to do with branding, market acceptance since most skincare consumers trust more international products as opposed to local brands.

Navigating these challenges meant that she had to reach out for support from different players and stakeholders so she could be able to get where she is now. She acknowledges the big role played by ZimTrade, women’s bank in 2019 and the ministry of women affairs and SMEs, ZimTrade took her through an incubation process called the eagles nest where she gained tremendous knowledge about branding, and market positioning.

Zora Skincare is located at shop 31 Haddon and Sly, 2nd Floor in Bulawayo and its products can be found in select pharmacies. Contact: +263785781586

PROFILE EDEN FRESCO

One of the things that we have been passion about, has been eating healthy, In that personal journey, we then realized that a lot of people in our community were also interested in having fresh and natural vegetables, which is why we went commercially.

Eden Fresco was incorporated in 2018 as an Agribusiness company specializing in supplying the highest quality of healthy, natural and fresh fruit and vegetables. We are currently supplying: Tomatoes, Green beans, Baby Marrows, Beetroot and peppers to supermarkets and retailers.

Eden Fresco is an agribusiness company registered in Zimbabwe for farming and food processing. We specialize in producing and supplying products of supreme quality. Our passion is the health of our clients; we therefore incorporate organic farming methods to our farming. We pay keen attention to meet and exceed customer expectations. Currently we have experience in growing tomatoes, baby marrow, green peppers, carrots, beetroots and green beans. We buy seeds from reputable companies and employ good management practices such that our yield per hectare is high and we use drip irrigation system. Using drip irrigation and o ganic fertilizers gives us high quality products while minimizing costs.

Eden Fresco is a family run agribusiness registered in the Republic of Zimbabwe with two directors, farm manager, farm supervisor, four permanent employees and casual/seasonal employees. The company was legally registered in 2018.

Call / WhatsApp: 0776 357 316 | 0719 366 276 | 0774 780 980

Email: edenfresco.zim@gmail.com

Address: No. 1 Leask Avenue, Northville, Bulawayo

EZULU FOODS PROFILE

EZULU FOODS is a vertically integrated healthy food holding company that produces, processes and retails nutritional and medicinal food. Established In 2019 by the Colmin Group in Southern Africa, the company provides healthy food, with a healthy taste and thus produces healthy bodies.

Bruce

FCCA

In his book Candide, Voltaire tells of this well brought up German lad who is in a forest in a faraway land across the seas when he and his friend happen upon these two blonde nubile dames with two savage monkeys in pursuit of them. The monkey takes one of the women forcibly and she lets out a scream. The quick thinking and fast actig lad pulls out his revolver lets out two shots and the two savage beasts drop dead. Feeling mighty proud at rescuing the damsels, the young lad is waitig to be showered with praise when to his dismay the damsels wail in agony over the dead beasts caressing their bleeding wounds. His travelling companion then explains to him, that he has murdered the poor women’s lovers. What he interpreted as an attck was foreplay in their love making. There are no ready answers or templates for existence.

One must meet with life and react to every situatin in its context if they are to get right what is being asked of them. We are to be wary of bringing ready answers or received wisdom to the situatins we face. Entrepreneurship demands the willingness to be a fool. Aftr all, “in order to discover new lands, one must be willing to lose sight of the shore for a very long tie” to cite Andre Gide.

Elon Musk is famous today for two things which he did not create but he was willing to take a chance on. He was willing to be the lesser. It is more rewarding and transformatie to notie that you are wrong than it is to prove that you are right. He joined his x.com to Peter Theil’s Confiity who were the inventors of PayPal. He was willing to swallow his ego and accept that what they had at X.COM was not quite what the market required.

No matter how fantastic a product you may have if it is not what the market desires or can be persuaded to desire, stop and transitin. “It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.” Having combined with Peter Thiel’s outft PayPal went to enjoy unbridled, unrivalled success. The sale of PayPay to Ebay made Elon a multimillionaire. He took $30 million of that and ventured into the unknown world of electric cars by buying into in to the wisdom of Marti Eberhard and Marc Tarpenning who were the creators of Tesla Motors. The rest is history. But don’t look too far, here are two prime local examples of people reactig to the environment and not subscribing to received wisdom.

Nomaliso Ncube of Fresh in a Box htts://www.youtube.com/ watch?v=NNDxmAm33sk and Terence Maphosa of kwaTerry Chicken htts://www.youtube.com/watch?v=vqtpacCUdrc

In a world of 3 seconds attntin spans; If you can think—and not make thoughts your aim; …Yours is the Earth and everything that’s in it… Let’s go get it!

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INSPIRATION

Khumalo

PERCEPTION

THE FIVE STAGES OF BUSINESS GROWTH.

TIPS

business, it has the brand recognition and size to be financially healthy.

At this stage, the business would have grown enough to add more employees and probably a couple of managers. The brand might even be completely separate from the owner at this point. Accounting practices, marketing plans, and production systems would also be in place. With other skilled leaders in place, the owner will not need to supervise every aspect of the company.

4. TAKE OFF.

All stages of small business growth come with challenges that every company will have to overcome. Knowing where your business is in the cycle can help you see the solutions, you need to implement, create growth strategies, and plan.

Whether you are still toying with a business idea or have already taken the plunge into entrepreneurship, this guide will give you a bird’s-eye view of the stages of starting and growing a business.

STAGE 1: EXISTENCE.

In the existence stage, also called the start-up phase, the company’s business structure is simple. For the most part, the owner manages the operations or performs all-important operating activities. At this point, in the absence of investors, the owner is also the one funding the whole venture.

For many, especially solo entrepreneurs, formal planning such as profit forecasting for the company is at a bare minimum. For the best potential for success, the owner should do market research and create a business plan.

STAGE 2: SURVIVAL.

Survival is the next phase following the existence stage. At this point, the business has proven that it is a viable brand; it has found a market for its products or services and has acquired customers. In addition, most companies in this stage still operate with a simple structure. Even if the company now has employees, the owner oversees and makes the major decisions for the business. They may not have any systems in place for hiring practices, marketing models, etc. In addition, some businesses may still be operating with minimal formal planning, with the goals for the company existing only in the mind of the owner.

STAGE 3: SUCCESS.

The third stage of business growth is success. At this maturity phase, the company is thriving. It has established a strong presence in the industry to ensure consistent profits. In addition, as a mature

Even if a business owner simply wants to maintain its successful position, environmental changes and trends in the industry may compel expansion. This next stage is where companies can experience rapid growth because they can leverage the streamlined sales, marketing, and operating strategies and processes they have in place. Now, the main concern is how to grow and how to fund that growth. The brand can pursue many routes to expand, such as merging or buying another company. The leadership may also choose to increase the brand’s market share by developing new products and moving into new markets. Some companies also look into adding products and services to their existing offerings.

5. RESOURCE MATURITY.

After a successful take-off where the company has achieved the rapid growth it aimed for, the main concern of businesses entering the resource maturity stage is proper management of the financial gains from the last phase. It should also carefully review its systems and processes to resolve inefficiency issues that come with rapid growth.

At this point, the goal for the company is longevity. The business has the staff, the financial resources, and well-developed systems in place to achieve this goal as long as the owner keeps their entrepreneurial spirit and takes advantage of the resources available to maintain the company is standing in the industry.

CONCLUSUION.

At every stage of business development, there are new challenges to overcome. As a business owner, it may feel like you are always in need of capital and some type of support. Every person you bring in to support you at each phase of the business life cycle can either cost you time and money or complete the task expertly and help you move forward. This is why it is important to have a solid plan, ecosystem that will help you go and grow through every stage.

Every new business and startup, big or small, goes through the five stages of business growth. These phases include existence, survival, success, take-off, and resource maturity.

PROFILE GLENRISE

GLENRISE INVESTMENTS (PVT) Ltd was incorporated in Zimbabwe under the Zimbabwean Act Chapter 24:03 to carry out mining and mining support, engineering services, civil and general works and hospitality businesses in Africa and beyond.

The company was incorporated in August 2016 with a staff complement of just 8 employees and has grown rapidly into a large enterprise with over 1000 employees in 2020. From the time of incorporation to date, the company has created and maintained a rich portfolio of blue chip clients in the mining and construction sectors that include Zimplats, JRG, Masimba Construction, ICP and Grindale Engineering. Despite the economic challenges characterizing the Zimbabwean business operating environment, Glenrise Investments continues to enjoy phenomenal growth driven by a visionary and strong management team complimented with a highly skilled and motivated workforce.

ARTIFICIAL INTELLIGENCE FOR AFRICA.

Excomag

TECHNOLOGY

In this article, we will explore some of the key ways that AI can help African economies to reimagine their potency, and how these technologies can be deployed to achieve maximum impact.

1. AUTOMATION.

One of the main ways that AI can help African economies to scale is with automation. Automation technologies such as machine learning and robotics can help to reduce the costs of production, increase efficiency, and improve the quality of goods and services. This can lead to increased productivity, which in turn can help to boost economic growth and development. For example, the use of AI-based technologies in manufacturing and agriculture can help to improve crop yields, reduce labor costs, and increase the efficiency of supply chains.

2. BIG DATA AND ANALYTICS.

Another way that AI can help African economies to scale is with big data and analytics. These technologies can help to unlock valuable insights and intelligence that can be used to inform decision-making and improve the effectiveness of business operations. For example, AI-based systems can be used to analyze consumer behavior and preferences, allowing companies to better target their products and services to the right audiences. Additionally, these technologies can be used to analyze market trends and identify new opportunities for growth and expansion.

3. ACCURACY AND EFFICIENCY.

AI can also help to improve the delivery of public services and increase access to healthcare and education. In Africa, AI-based systems can be used to improve the accuracy and efficiency of diagnoses and treatment plans in healthcare, and to provide more accessible and effective education to remote and underserved communities. Additionally, AI-based technologies can be used to improve the delivery of public services, such as transportation and energy, by op-

timizing routes and schedules, and reducing energy consumption.

4. NEW DEVELOPMENT OF BUSINESSES AND INDUSTRIES.

AI can also help African economies by supporting the development of new industries and businesses. For example, AI-based technologies can be used to create new products and services, such as personalized health treatments, or to optimize the performance of existing products and services. Additionally, AI can be used to develop innovative business models and revenue streams, such as the use of data analytics to create new products and services for customers.

5. FINANCIAL INCLUSION.

Furthermore, AI can also help to improve financial inclusion and access to credit for small businesses and individuals. AI-based systems can be used to analyze financial data and creditworthiness, providing financial institutions with better insights and helping to reduce the risk of lending. This can help to increase access to credit and improve the financial stability of individuals and small businesses, which in turn can help to promote economic growth and development.

6. IMPROVEMENT OF BUSINESS ENVIRONMENT.

It is also important to mention that AI can help to improve the overall business environment in Africa. AI can be used to improve the efficiency of government operations, such as tax collection, and to reduce corruption. Additionally, AI can be used to improve the transparency and accountability of government institutions, which can help to promote trust and confidence in the government among citizens.

So in essence Artificial Intelligence is not an enemy of progress after all, it can be of good use to the economies of Africa. Creation of jobs, stabilizing food security and more can be the props of embracing AI.

Artificial intelligence (AI) has the potential to revolutionize the economies of African countries, providing a range of benefits that could help these nations to scale their economic potential.

SME INDABA SEGMENT

CAPITAL MOBILISATION. [CHALLENGES]

Small and Medium Enterprises (SMEs) play a major role in most economies, particularly in developing countries. SMEs account for the majority of businesses worldwide. Improving SMEs’ access to finance and finding innovative solutions to unlock sources of capital is very crucial in achieving a financially inclusive business ecosystem.

However SMEs are less likely to be able to obtain bank loans than large firms are; instead, they rely on internal funds, or cash from friends and family. With this obstacle SMEs have to find alternative routes of funding, but how do we achieve that?

Mr. Tawanda Mpoperi takes us through some of the challenges faced by SMEs in mobilizing capital. Why is obtaining finance such a major problem for emerging enterprises?

Lack of Initial Capital.

Many entrepreneurs/SME business owners have very limited personal savings. Lack of sufficient own finance when setting up their own business will most likely not allow the business to be fully operational.

Lack of Knowledge.

New entrepreneurs may certainly lack awareness of all of sources of finance that are available on the market. Neither have they had any knowledge about financial support available such as grants and more.

Lack of Credibility.

Most owners of new or small businesses do not have necessary credentials and trust to effectively secure funding from external sources of finance. Even if a new entrepreneur is able to borrow some money from family members and friends, the funds may not be sufficient. It is simply too much risk for banks to lend money to people who do not have good reputation for being successful entrepreneurs in the past.

Lack of any trading record to present to banks as evidence of past business success will discourage lenders from approving loans. A strong trading record would tend to give a bank confidence when deciding to lend money or not for a new venture.

High Interest Rates

In addition, in case of taking a bank loan, there will be relatively high interest charges, which will affect future profits and the cash flow position of the business. Because interest has to be paid on a loan every month, it will increase expenses, therefore lower Net Profit after Interest and TAX.

Lack of Collateral.

New business owners often have to use their own assets such as a house or a car as collateral. Collateral is financial guarantee that the asset will be transferred to a lender in case a borrower fails to repay the loan. Banks are not naïve, without a solid guarantee that can be used against the bank loan; chances are very small that the bank will approve a loan. There is simply too much risk for the bank of losing the money by lending startups and SMEs.

Mr Tawanda Mpoperi is the National Sales Manager of Zimnat Financial Services.

Encountering obstacles is one thing we all have in common. The thing that sets us apart, however, is how we deal with obstacles. Some people allow obstacles to derail them; others have learned to jump the hurdles while running. In many cases, obstacles can be avoided. They are the result of unmanaged emotions, ingrained habits and habitual mistakes we make with other people. Unattended, these obstacles become emotional thieves that we allow into our lives. They steal our focus, sap our mental energy and, sometimes, thwart our most important initiatives. What can we do to close the door on these obstacles so we can capitalize on our opportunities to succeed? Here are some strategies shared by Providence Moyo on how to overcome obstacles.

LISTEN TO YOUR GUTS WHEN IT COMES TO PEOPLE.

We all have that intuition within us that tells us when we are about to make bad decisions, more often than not we ignore this strong feeling. Research shows that one in four startups fail. One of the major causes is incompetence, managerial incompetence to be specific. Choosing the right people, especially the right colleagues, is crucial. Some entrepreneurs end up picking teams based on friendship, on having been like-minded friends working together in the past and more. In the excitement of starting a new venture, you may ignore the feeling in your gut that tells you the person you are about to pick does not have the managerial competence for this next step. They may lack execution skills, or they may be weak on strategic thinking. Instead of bolstering your weaknesses, they compound them. Do not let this be an obstacle to your success.

BE WILLING TO ABANDON WHAT DOES NOT WORK.

We tend to fall in love with our own products and services and find it hard to let something go. It is almost as if we develop blinders that prevent us from seeing what is very clear to outsiders, but not to us. If you are going to play the game, you need to know when to fold the cards.

Evaluate what doesn’t work and have the courage to walk away from it before it becomes a major obstacle. The energy you will have released from letting it go will increase your concentration on what works—it will allow you to apply the intensity of a laser focus on the right target.

STICK TO WHAT YOU GOOD AT. (PURPOSE)

Simplify and stay focused on what you know, and what you do best. In other words, stick to the knitting. Businesses die of indigestion not starvation.” Do not layer more onto your business, and stay focused on your core product. If you believe in your product, and you know that it adds value, do not go looking for the next exciting thing. Learn to focus on what works and stick to it.

WORK ON YOUR HABITS.

Some obstacles are the result of our ingrained habits clinging to outdated modes and ways of doing business because it is what we know best. Good habits help you stay organized, focused, and motivated. In addition, that is exactly what you need to succeed as an entrepreneur. If you are looking for ways to improve your business, start by working on your habits. Develop the ones that will help you achieve your goals and ditch the ones that are getting in your way.

TAKE MENTORSHIP AND NETWORKING SERIOUSLY.

A mentor is a business professional with the experience to provide personalized support; sound business advice and encouragement to help emerging entrepreneurs develop their own abilities and insights. Mentors have the ability to see blind spots entrepreneurs have because they may have most likely went through the path you intend to go. A good mentor helps you save time and mistakes that can cost you.Which is linked to networking as an entrepreneur, Effective networking is an important skill for successful entrepreneurs. It can open doors and create amazing opportunities for investment, clients, and growth. Through your network, you can meet mentors, future employees, advisers, and industry insiders who may advocate for you to other dealmakers.

ABOUT PROVIDENCE MOYO.

Providence Moyo is a seasoned and well-decorated multi-award winning entrepreneur, businessperson, Founder and Director of Divine Pro-Skin care and therapy a thriving value Addition Company that manufactures products from indigenous plants harnessed from rural Zimbabwe.

TURNING OBSTACLES INTO OPPORTUNITIES.

UNDERSTANDING VALUE PROPOSITIONS.

A value proposition is much more than a description of your products or services. It is a statement of intent. It is a promise. It tells customers why they should choose your solution over one of your competitor’s by highlighting the unique value only you can provide. What’s more, a clear and compelling value proposition supports your wider inbound marketing efforts. It ensures you are correctly aligned to the needs of your customers so you can attract the right people.

VALUE PROPOSITIONS EXPLAINED.

At its core, your value proposition provides a succinct summary of the tangible benefits or results customers can expect when they use your products or services. It focuses on the features that help you stand out from the crowd and the unique value you provide. That is what a value proposition is, but it is equally important to clarify what it is not.

A value proposition is not a slogan, incentive, or mission statement. These tend to be more high-level or conceptual. It should quickly get to the heart of the challenge you want to help your buyers solve and the reasons why your solution is the best choice to do that.

IMPORTANCE OF VALUE PROPOSITIONS.

Some businesses use their value proposition as an internal resource to help align their marketing efforts. Others as a customer-facing document that highlights the unique features of their offering. However, you use it; a clear and compelling value proposition can benefit your business.

Primarily, it gives you a better understanding of your customers

and how your solution meets their needs. It also helps you highlight the key features that differentiate you from other solutions on the market and articulate the value you provide.

More than that, your value proposition can:

• Support your sales and marketing efforts

• Ensure consistency and clarity of messaging across your brand

• Help you attract relevant leads

• Improve customer engagement

A strong value proposition can be the difference between closing a sale and losing a customer to the competition. If you are unable to demonstrate value to your customers, why should they place value in your offering? If you are unable to tell prospects why they should choose you over someone else, why would they?

SO, WHAT DOES A GOOD VALUE PROPOSITION LOOK LIKE?

A good value proposition should:

• Address a specific need among your customers.

• Be clear and easy to understand.

• Explain how customers can overcome their business challenges using your solution.

• Highlight the features that differentiate you from your competitors.

TOP SEVEN REASONS WHY A PATENT IS IMPORTANT. LEGAL

→ Patent protection can become a valuable commercial tool and important investment in technology for many businesses. All businesses may have a good technology or invention worth protecting which could be an essential and invaluable asset. Understanding what patent rights can provide can be vital and critical to business success. Below are seven of the top reasons why patent protection is important.

1. PATENT PROVIDES EXCLUSIVE RIGHTS.

A patent grants its owner an exclusive right to prevent others from taking advantage of the owner’s creative idea or goodwill that the owner has developed for the products and processes by making, importing, offering for sale, selling, or using the owner’s patented invention.

It confers on the owner the right to exclude others from exploiting the invention covered by the patent without the owner’s permission or approval and to prevent competitors from enjoying the same rights.

2. PATENT PROVIDES COMPETITIVE.

Protecting patent assets and rights may give a company the competitive edge over competitors by discouraging unauthorized use and preventing them from copying the invention or doing something that competes against the patent assets of the business. This would eliminate or diminish competition from imitators, or prevent competitors from imitating the inventions and thus reduce the risks of patent theft.

3. INCREASE PROFIT OR RETURNS.

With patent, there is a potential financial return where the patent owner may profit from its commercial exploitation. As patent owners will have exclusive right to make, import, sell, and use the invention, the patent owners will be able to improve their market power

and will be the one making money from the invention.

4. ADDITIONAL REVENUE STREAM FROM STREAMING.

Patent owners can license their patents to commercial entities by granting rights over the invention to allow them to use or make the patented inventions in return for royalties or payments. Under such a license, the owner of the patent will remain, and the licensee will pay royalties at a pre-agreed amount for the duration of the agreement.

5. NEW MARKETS EXPOSURE.

A patent may also have commercial value for accessing to new markets through merger, joint venture and partnership. Patent portfolios may strengthen a company’s innovative image in the marketplace. This can be useful for start-ups and investors alike where a patent can open the door to new markets with new business partners.

6. ATTRACT INVESTMENTS.

Investors may perceive a granted patent as a proof of concept of high-level technological capacity when evaluating a business opportunity. Potential investors understand the value of a patent as an intangible asset and want to ensure that their investments will be protected.

7. OBTAINING FUNDING.

Patents can also be a source of funding from equity investors, venture capitalists, and government grants. These funders are becoming knowledgeable about patent rights and are recognizing the value of patents. They may want to be assured that the invention is legally protected by a granted patent prior to funding and that their investments are adequately protected by a well-drafted patent.

A patent is a type of intellectual property that gives its owner the legal right to exclude others from making, using, or selling an invention for a limited period in exchange for publishing an enabling disclosure of the invention.