Three life lessons for entrepreneurs

Being an entrepreneur takes tenacity, drive and determination. It also requires strategic thinking, and there is much to be learnt on the journey to success. In recent years, many entrepreneurs have succeeded in the face of overwhelming obstacles, and these trailblazers all learnt three valuable lessons along the way: don't take no for an answer, never stop learning and failure sometimes precedes success.

Lesson one: Don't take no for an answer and have faith in yourself

Sometimes, the motivation to become an entrepreneur stems from a desire to overcome disappointment. When Sibongile Sambo was told that she could not be a flight attendant because she did not meet the minimum height requirement, she found another way to give her dreams wings. Rather than accepting defeat, she chose to start her own aviation business. From humble beginnings, having been started on the proceeds of the sale of Sambo's car and money from her mother's pension, SRS Aviation has truly taken flight. Charter cargos, VIP charters, helicopter services and game counts are all in a day's work for the dynamic company that Sambo has built. In the early days, there were many challenges to be faced, especially as Sambo had to forge a path for herself in a male-dominated industry. Today, her success speaks for itself and is a great example of why one should never take no for an answer.

Lesson two: Never stop learning

When the 2008 financial crisis hit, Thuli Magubane took a voluntary redundancy package from her employer. Since there were no jobs available, she decided to make her own, and she launched Mint Fresh Advisory Services in 2010. Mint Fresh offers an array of services such as strategic planning, project management, BEE compliance and financial advisory services. Magubane accredits her success in this industry to the business acumen that she obtained through studying. Realising that she needed to upskill in order to make a success of her business, she completed a Postgraduate Diploma in Management through Wits Business School, as well as an international qualification. Armed with the industry-specific knowledge that these qualifications gave her, she was able to grow her business from strength to strength. Entrepreneurial spirit and a thirst for knowledge go hand in hand, and Magubane has combined these with grit, hard work and perseverance to provide the type of analyses and solutions that make a difference for her clients.

Lesson three: Sometimes you have to fail before you can succeed

The business world is full of stories of entrepreneurs whose first ideas failed and whose second ideas changed the world as we know it. For example, Evan Williams, the co-founder of Twitter, had previously developed a podcast platform called Odeo. However, Apple announced the launch of podcasts on iTunes soon afterwards, and Odeo was quickly forgotten. Another example from the world of social media is Reid Hoffman, who once created a social media platform called "SocialNet", which never took off. Today, Hoffman is known as the co-founder of LinkedIn and an investor in PayPal and Airbnb. 

In a final example, Akio Morita's first creation was a rice cooker that burnt rice rather than cooking it. Instead of allowing this failure to define her career, she went on to become the founder of Sony. Having the tenacity to accept failure and keep striving for success is part of the package for entrepreneurs.

The final important lesson to be mentioned is that no business can reach its maximum potential without having the right premises. Contact 3Cube Property Solutions for all your industrial and commercial property needs in Gauteng.