{"id":134,"date":"2015-12-15T17:31:24","date_gmt":"2015-12-15T17:31:24","guid":{"rendered":"http:\/\/blog.exodusintegration.co.za\/?p=134"},"modified":"2015-12-15T17:31:24","modified_gmt":"2015-12-15T17:31:24","slug":"the-joy-and-pain-of-entrepreneurship","status":"publish","type":"post","link":"https:\/\/blog.exodusintegration.co.za\/?p=134","title":{"rendered":"– The Joy and Pain of Entrepreneurship"},"content":{"rendered":"

By Nimroth Gwetsa, 15 December 2015.<\/strong><\/span><\/p>\n

Summer holidays are upon us. Whether one is on vacation elsewhere or is enjoying the tranquility of the local environment, summertime is the season expected to bring good fortune<\/em>. It\u2019s as if living things are doing their best to show off their appreciation of summer: with flowers blossoming, birds singing their early morning glorious melodies, succulent fruits falling-off trees, people getting together and strengthening their relationships.<\/strong><\/span><\/p>\n

Summer is the season where you would wish the euphoria of a good life continues forever.<\/p>\n

For some, summer is a season representing the worst time of their lives. It highlights difficulties in their lives and shows them how far from bliss their lives have been. Theirs is probably a wish for good fortunes to befall them, or at worst, for the season to pass as quickly as it came.<\/p>\n

We should not turn a blind eye to people in our midst in need. We accept that some may be unable to give their time and money to others. But it cannot be a difficult thing for everyone to be polite and courteous to others, as that might be the only best thing people in need may receive. Kindness can go a long way in turning someone\u2019s sadness to joy.<\/p>\n

But nothing is more depressing than seeing the outcome of one\u2019s hard work, prudence and self-restraint nullified by factors beyond one\u2019s immediate control, especially if the impact is owing to other people\u2019s poor judgement. The damage has far-reaching consequences.<\/p>\n

What then can one do when in such a situation or to prevent becoming a victim of such circumstances?<\/p>\n

There will always be light shining away darkness, even if there is a need to endure many seasons of overcast and dull weather.<\/em><\/p>\n

An entrepreneur\u2019s life is one filled with regular doses of joy and pain<\/em> – the joy of producing tangible offerings and seeing people using them to solve problems, and the pain of unrealised goals.<\/p>\n

With some imagination, if we could find a way of replacing \u201clove<\/em>\u201d in the lyrics of the song, \u201cJoy and Pain<\/em>\u201d sung by the soul band Maze, featuring Frankie Beverly, with words describing our different entrepreneurial journey, we would be able to see parallels of the joy and pain of owning a business.<\/p>\n

If you do not believe this, reflect on the extract of the said lyrics shown below:<\/p>\n

\u201cRemember when you first found love, how you felt so good<\/em><\/span><\/p>\n

Kind that last forever more so you thought it would<\/em><\/span><\/p>\n

Suddenly the things you see got you hurt so bad<\/em><\/span><\/p>\n

How come the things that make us happy make us sad<\/em><\/span><\/p>\n

Well it seems to me that<\/em><\/span><\/p>\n

\u00a0<\/em><\/span><\/p>\n

Joy and pain are like sunshine and rain\u2026<\/em><\/span><\/p>\n

\u00a0<\/em><\/span><\/p>\n

Love can be bitter, love can be sweet<\/em><\/span><\/p>\n

Sometimes devotion and sometimes deceit<\/em><\/span><\/p>\n

The ones that you care for, give you so much pain<\/em><\/span><\/p>\n

Oh but it’s alright there both one and (in) the same<\/em><\/span><\/p>\n

\u00a0<\/em><\/span><\/p>\n

Don’t it seem we go through life going up and down<\/em><\/span><\/p>\n

Seems the things that turn you on turn you around<\/em><\/span><\/p>\n

Always hurting each other if it ain’t one thing it’s another<\/em><\/span><\/p>\n

But when the world is down on you love’s somewhere around<\/em><\/span><\/p>\n

Well it seems to me that<\/em><\/span><\/p>\n

\u00a0<\/em><\/span><\/p>\n

Joy and pain are like sunshine and rain\u2026<\/em><\/span><\/p>\n

\u00a0<\/em><\/span><\/p>\n

Over and over you can be sure<\/em><\/span><\/p>\n

There will be sorrow but you will endure<\/em><\/span><\/p>\n

Where there’s a flower there’s the sun and the rain<\/em><\/span><\/p>\n

Oh and it’s wonderful there both one and (in) the same<\/em><\/span><\/p>\n

\u00a0<\/em><\/span><\/p>\n

Joy and pain are like sunshine and rain\u2026<\/em>\u201d<\/span><\/p>\n

The joy and pain of entrepreneurship never cease. But there is a way of enjoying more joy than pain in one\u2019s entrepreneurial journey.<\/p>\n

Ensuring More Joy than Pain<\/strong><\/span><\/p>\n

The simple truth is that:<\/p>\n

Profit is fn (increased Revenue from sales against Cost of sales, i.e., P = R \u2013 C)<\/em><\/span><\/p>\n

To increase P<\/strong>, you either increase R<\/strong> and decrease and keep C<\/strong> constant, or if R<\/strong> cannot be increased directly, do so indirectly by drastically reducing C<\/strong>. The ideal situation would be to increase R<\/strong> and decrease C<\/strong> simultaneously.<\/p>\n

Plenty literature is available on how to improve on any variables of the profit equation. My focus is on the obvious non-textbook factors we often tend to overlook yet are the basic building blocks of success<\/em>.<\/p>\n

The more sales one makes, the more revenue that could be earned<\/em><\/span><\/p>\n

I\u2019ve said this many times and it is worth repeating: it is best to sell a service or product solving problems affecting people. Notably, basic adherence to the following principles would increase opportunities for successful sales:<\/p>\n

From a problem perspective:<\/strong><\/em><\/p>\n