The power of “one” (FOCUS) (1)

F.O.C.U.S means: Follow one course until successful

Entrepreneurship is about problem solving, innovation and value creation.It is the ability to connect necessity to opportunity to bring about perpetual and sustainable productivity, and ultimately, create economic prosperity. It is also about evaluating the objectives of a course as well as “calculating” how to navigate envisaged obstacles which may impede success. More often than not, entrepreneurs wait for the eureka moment while they bask in the euphoria of emerging, creative ideas. However, they fail to engage the fundamental question of the grand purpose for which they attempt to do what they perceive necessary. Purpose (problem solving or opportunity finding) can be shallow or deep, singular or triangular. A problem can come in form of a dilemma or trilemma, it can be one whose intervention or solution is popular, or one which its solution is not within the confines of a prescribed formula. It is important for entrepreneurs to follow the path of a singular, deep and popular course to create relevant, useful and necessary solutions/interventions. Entrepreneurship is also the passion to create value and the capacity to follow through to see that such value is commercialized for both impact and profit. In creating value, purpose supersedes passion and necessity scores higher than creativity. An idea may look creative but may not be lucrative. Permit me to use the word “lucreativity” to describe an idea that is both creative and lucrative. Productivity is the function of necessity and creativity. Entrepreneurship is the link between creativity and productivity or necessity and opportunity. It is the ability to organise and harmonise resources to seize or exploit an opportunity.

CHARACTERISTICS OF A PURPOSE-DRIVEN ENTREPRENEURSHIP (ENTREPRENEURSHIP OF NECCESSITY AND OPPORTUNITY)

Entrepreneurship is not just about creativity; it is first and foremost about necessity and ultimately about perpetual and sustainable productivity occasioned by opportunity. The following are the features of a purpose-driven entrepreneurship:

“SPOT”: AVOID THE “BLIND SPOT”!

SINGULAR (FIELD/AREA OF INTEREST)

POPULAR (GENERAL/PUBLIC INTEREST)

OPPORTUNITY-BASED (IMPACT/PROFIT DRIVEN)

TRIANGULAR (PROBLEM/VALUE CHAIN)

1. SINGULAR (FIELD/AREA OF INTEREST)

The Seven Mountains of Societal Influence by Bill Bright is a good model for an entrepreneur to understand the way the society is framed and also contribute to the advancement and enhancement of society through specific and scientific (field- specific goals/objectives) in research (reading and searching) geared towards sustainable development.

This is known today as the Seven (7) Mountains of Influence. Nations of the earth are changed and transformed through these Seven (7) Mountains. They are:

1. Family
2. Religion – (Spirituality)
3. Business – (Economy, Finance)
4. Politics – (Government)
5. Education
6. Media – (Communication)
7. Arts – (Entertainment, Celebration, Sports)

These Seven (7) Mountains of Influence are considered to be cultures that mold the way we think, and they influence our lives on a daily basis.

2. POPULAR (GENERAL/PUBLIC/GLOBAL INTEREST)

Agenda 2063 is the blueprint and master plan for transforming Africa into the global powerhouse of the future. It is the strategic framework for delivering on Africa’s goal for inclusive and sustainable development and is a concrete manifestation of the pan-African drive for unity, self-determination, freedom, progress and collective prosperity pursued under Pan-Africanism and African Renaissance.

3. OPPORTUNITY-BASED (IMPACT/PROFIT DRIVEN)

THE ENTREPRENEURIAL PROCESS

In recent years, entrepreneurs have been involved in so many activities, hence an entrepreneur:

• is an innovator or developer who recognises and seizes opportunities,
• converts those opportunities into workable/market ideas,
• adds value through time, effort, money, or skills,
• assumes the risks of the competitive market place to implement these ideas, and
• realises the rewards from these efforts. Entrepreneurial actions include turning a business idea (BI) into a business opportunity (BO) and developing a business plan.

4. TRIANGULAR (PROBLEM/VALUE CHAIN)

The Integrated Sustainable Development Goals (iSDG) model is a policy simulation tool designed to help policy makers and other stakeholders make sense of the complex web of interconnections between the SDGs. Unlike databases and indexes that provide a measure of a country’s position, iSDG focuses on the dynamic interactions within the SDG system to reveal the best paths and progression towards achieving the SDGs. For example, a company may provide integrated waste management services and further processes the waste into affordable and environmentally friendly fuels such as biogas and biomass briquettes. The company may also diversify intothe installation and operation of clean power plants, ranging from waste to energy, such as solar, biomass, hydro, and wind, as well as climate-smart farming.

BE ON COURSE; FOLLOW ONE COURSE

Entrepreneurs are social doctors. They solve social problems. Following one course until it is successful is the ability to either identify a real problem and proffer creative solutions to it, or recognise a real opportunity and organise resources (time, labour, money, technology, skills, etc) in order to fully exploit it. One business opportunity is better than one thousand business ideas. Necessity is the mother of invention. Innovation is the ability to apply creative solutions to real problems or opportunities to enhance or to enrich peoples’ lives; doing new things. Entrepreneurship is the result of a disciplined, systematic process of applying creativity and innovation to specific needs and opportunities in the marketplace.The 21st Century entrepreneur must understand the grand challenges confronting the society and come up with innovative solutions to mitigate these problems. The best use of creativity is to deploy it to solve societal problems and create opportunities.

Opportunity is the father of entrepreneurship

Necessity is the mother of entrepreneurship

Entrepreneurship is the spirit of creativity and innovation

Opportunity + Necessity + Entrepreneurship (ONE) = Prosperity (P=1)

Innovation is the specific function of entrepreneurship. Entrepreneurship on the other hand is a function of the entrepreneur. E = f (e).

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