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SpecialEdition April-May2014

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The Biggest Mistake Entrepreneurs make Innovation How to master your fears Why Sack Potato farmers fail


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SpecialEdition April-May2014

livemarketzone.com The

Biggest

Mistake Entrepreneurs Make “Sanjay . B Patel- Sanjspiration | Born to Inspire you Reach Your Desire” “The way to get good ideas is to get lots of ideas and throw the bad ones away.” – Linus Pauling Yes, entrepreneurs make many mistakes on their way to success. Joe had been working for a big advertising agency when he decided that he wasn't fulfilled. During his work at the agency he had mentored dozens of college students and really enjoyed it. He left the advertising world and started a consultancy business for college

companies tried to limit the facility because they had no system for charging for it. That was until Radiolinja (now part of Elisa) in Finland came up with a way of billing it. It eventually became a major source of revenue for mobile networks. (Until Whatsapp, that is). It could have been a mistake to keep S M S as a network information platform. But whoever invented it did not expect that it would be applied to customer to customer messaging. The biggest mistake entrepreneurs make is to forget the essential key to entrepreneurial growth: CONTINUOUS INNOVATION. We mistake our startup for a business and carry on with the business models from the 80's. A startup is a temporary vehicle that entrepreneurs use to search for a workable, viable and profitable business model. Your product or

People often talk about something new being “innovative. “Most of the time, it is simply putting together existing elements to create what appears to be new .Donald Trump was touted as being innovative when he came up with the mixed – use condominium and hotel tower, which he did with the Trump international Hotel and tower in New York city. Since then, the concept has been copied by him and others and it has proven to be tremendously successful, nationally and internationally. To him, the idea was common sense, and he did not think he was being particularly creative. A composer named Steve Reich who came up with a new idea called PHASING, which is like wind-shield wipers going in and out of synch. Apparently he was caught in a traffic jam one rainy day and the rhythm of the windshield wipers caught his attention and he applied what he heard

Domain name Registration $15 For Websites or Personalised emails like, info@cytnet.net +263-4 775 762 / +263772298288 students, hoping the eager job seekers would pay for tips to get ahead in the c o m p e t i t i v e marketplace. He spent $3,000 to get a website up and running. Then he sat back and waited for customers. And waited…..and waited. There was not a single email. Not even a phone enquiry. He then decided to talk to students. That is when he discovered that they didn't have the financial means to pay for his consultations. There were no customers who were willing and able to pay for his services. That is a common mistake in entrepreneurship. When the early mobile phone companies started operations, they devised a way of telling customers about problems with their networks, through text messages. One day someone discovered that through the facility, he could send a message to another subscriber. On December 3, 1992, Neil Papworth sent an SMS with the text “Merry Christmas” to Richard Jarvis over the Vodafone network in the UK. The trend slowly caught up but some

service is an experiment to begin with. You want to see if the business model works. Unfortunately some entrepreneurs get married to the initial idea and refuse to experiment with it and innovate. That is the reason most of our once successful companies are struggling today. Without innovation, there is no renewal and no growth. Experiment with your business model. Try new things. You will find a model that will take your

business to another level.

Innovation:

email us now to his musical compositions. He has had a significant influence on contemporary music, and I think he is a great example as an innovator. Sometimes new ideas can come from something as mundane and functional as your windshield wipers. The Key is to pay attention and keep your brain and senses open to new stimuli. It also helps to be thinking of two things at once –“multi – level focusing” is what I call it. The intersecting of ideas is when innovation will follow – thinking in musical terms while listening to your windshield wipers at one time, who knows what will result??Sometimes it will be fantastic and other times it will not, but it gets the mind working in new dimensions that can sometimes prove fruitful. A successful life requires common sense and hardworking – but to be aware of things that are sometimes ine Enjoy Free Advertising xpl @ livemarketzone.com ica ble With many more benifits & Innovation


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SpecialEdition April-May2014

livemarketzone.com because they can be a big step to innovation .We do not really create, but we assemble what has been created for us. Be a great assembler-no matter what your interests may be – and you will be on your w3ay to inventiveness. A big mind requires a variety of thoughts and impulses to keep it well occupied, so make sure you keep your mind engaged in the best ways possible. It could very well be your calling card for success.

UNITED COMMERCIAL FARMERS ASSOCIATION

How to Master Your Fears Did you know that perhaps the greatest challenge you will ever face in life is the conquest of fear and the development of courage? Fear is, and always has been, the greatest enemy of mankind. When Franklin D. Roosevelt said, “The only thing we have to fear is fear itself,” he was saying that the emotion of fear, rather than the reality of what we fear, is what causes us anxiety, stress, and unhappiness. When you develop the habit of courage and unshakeable selfconfidence, a whole new world of possibilities opens up for you. Just imagine—what would you dare to dream or be or do if you weren't afraid of anything in the whole world? Develop the Habit of Courage Fortunately, the habit of courage can be learned just as any other habit is learned, through repetition. We need to constantly face and overcome our fears to build up the kind of courage that will enable us to deal with the inevitable ups and downs of life unafraid. The starting point in overcoming fear and developing courage is to look at the factors that predispose us toward being afraid. The root source of most fear is childhood conditioning, usually associated with destructive criticism. This causes us to develop two major types of fear. These are the fear of failure, which causes us to think “I can't, I can't, I can't,” and the fear of rejection, which causes us to think “I have to, I have to, I have to.” Our fears can paralyze us, keeping us from taking constructive action in the direction of our dreams and goals.

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The More You Know, the Less You Fear Fear is also caused by ignorance. When we have limited information, our doubts dominate us. We become tense and insecure about the outcome of our actions. Ignorance causes us to fear change, to fear the unknown, and to avoid trying anything new or different. But the reverse is also true. The very act of gathering more and better information about a particular subject increases our courage and confidence in that area. You can see this in the parts of your life where you have no fear at all because you know what you are doing. You feel competent and completely capable of handling whatever happens.

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Analyze Your Fears Once you have identified the major factors that cause you to feel afraid, the next step is to objectively define and analyze your personal fears. At the top of a clean sheet of paper, write, “What am I afraid of?” Remember, all intelligent people are afraid of something. It is normal and natural to be concerned about your physical, emotional, and financial safety and that of the people you care about. A courageous person is not a person who is unafraid. As Mark Twain said, “Courage is resistance to fear, mastery of fear—not absence of fear.” Action Exercise Begin your list of fears by writing down everything, major and minor, that causes fear, stress, or anxiety. Think about the parts of your work or personal life where your fears might be holding you back or forcing you to stay in a job or relationship in which you are not happy. Once you have written down your fears, arrange them in order of importance, and then pick them apart one by one.

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livemarketzone.com DID YOU GET DISAPOINTING SACK POTATO YIELDS Sack potato produc on was received with a lot of enthusiasm by many in both urban, rural and farm setups. This mainly being a result of the way it was adver sed. Agronomists claim the project should give an average yield of 15 KG per plant over a period of around 100 – 130 days. Many people imagined making huge profits over such a short period, but most prospec ve producers took many things for granted. Firstly, farmers just think potatoes should do well in sacks if they do well in the field. Secondly, farmers imagine a high yield of 15 KG per sack which has a single plant i will be produced. Thirdly, Farmers think they can apply the same agronomic prac ces they use in the field. However, this is not true. Why should the same plant that produce 1kg in the field suddenly give out 15kg without applying any changes in agronomic prac ces? Secondly, what else should be done to achieve the high yield in sack potato produc on? During a successful training session, these ques ons should be answered well to give a farmer a good head start. Farmering Agriculture (Pvt) Ltd visited 200 projects in and out of Harare on research to find out the progress of the new technology in Zimbabwe. From the results there are 5% success stories, 15% got slightly above break-even

sales while 80% made serious losses. Below are some the reasons why most farmers registered losses: 1. No training on sack potato produc on was received by the farmer. 2. The farmer just downloaded informa on on internet and photocopied a book given by another person who also had not received any form of training. 3. The farmers used uncer fied seed purchased from food market places such as Mbare. 4. Some farmers did not apply all the agronomic prac ces they were trained. 5. Insufficient resources to purchase the required produc on inputs such as fer lizers and agrochemicals Mr Lifa Mazibuko, a specialist at Farmering Agriculture and experienced farmer pointed out that farmers should get trained and apply all the necessary agronomic prac ces to achieve great profits. It is a viable project and Mr Mazibuko encouraged farmers to give it a try a er training. Farmering Agriculture has trained successful farmers in sack potato produc on.

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