Entrepreneurship is the capacity and willingness of a person or group of people to develop, organise and manage a business venture along with any of its risks in order to make a profit and/ or effect change. Where exactly does outsourcing fit in?
South Africa is facing multiple core issues like poor infrastructure, corruption undermining state legitimacy and service delivery, and a plan for economic growth that is highly resource intensive, all of which are being challenged by entrepreneurial spirit daily. Characterised by qualities like innovation and risk taking, the most obvious example of entrepreneurship is in the starting of new businesses, but entrepreneurship extends into any new business venture, or the adaption and innovation of something that already exists.
Because running an operation is such a multi-faceted process, there is so much to know off the bat (from pitching skills to growth management in HR to tax compliance) that an entrepreneur faces a uniquely steep learning curve and risk when starting one. Besides having natural talent, entrepreneurs are demanded of hard qualities like skill, tenacity and resiliency. In an uneasy environment, it is more important than ever for entrepreneurs to work smart, and hard, to create change as quickly and effectively as possible. It is evident then the amounts of pressure that entrepreneurs are under to perform.
Luckily, advances in technology have made communication and access to information on a global scale easier than ever. Gone are the days of single-handedly building an empire, the latest quality demanded of entrepreneurs who are working towards a South African purpose where time is of the essence is the ability to successfully action on these opportunities of communication and information. The combination of these two opportunities is in networking, collaborating and partnering: working together with others to achieve incredible goals faster.
Overall, businesses share a responsibility in succeeding this, not only for themselves, but for others too. Affecting the nation’s wealth and reputation, entrepreneurship is an essential part of South Africa’s ability to succeed in an ever changing and increasingly competitive and demanding global marketplace.
In a competitive landscape such as this one, time is almost as valuable and as much of a measurable cost as money in trade. Enter outsourcing: our synonym for clever business collaboration. For a group of entrepreneurs who feel a responsibility towards positively affecting South Africa and have a limited amount of capital and time of time to spare, it is not only about what each person or company does, but also about what they choose not to do. Call this playing one’s strengths, where the benefits both internally and externally are second to none.
Internally, outsourcing lends leaders the opportunity to better focus on their talent, their team and the core aspects of their business. On the one side, by managing their resources carefully, entrepreneurs can better drive optimal efficiency and effectiveness, creating room for a greater volume of work and output. Technically speaking, outsourcing non-core activities can improve efficiency, streamlining and productivity, and drive faster turnaround times, increased competitiveness within an industry, and the cutting of overall operational costs. On the other side, an entrepreneur will find their staff doing what they love, not burdened by the stress of doing work they are not confident in. This will lead to a better culture, one of pride and innovation, where staff will hunt for new ideas and further training out of a want instead of a need.
Externally, in a supportive eco-system where everyone is looking out for one another and working together to serve a bigger purpose, there is certain strength in (clever) numbers. As entrepreneurial skills develop and experience is gained, the strongest entrepreneurs embrace collaboration as a way to seek out and include diverse views, and effectively distribute workload for productivity. Learning, working and innovating together is going to make a bigger and better difference to South Africa sooner.
Locally and globally, working to enable these internal and external opportunities is a sure fire way of achieving reputable and distinctive business eminence. If you’re an entrepreneur, and especially if you’re just starting out down the path, collaboration isn’t just important, it is just as important as your idea itself. Finding a way to make collaboration part of your planning, and incorporating it into your mindset, will make you a better entrepreneur.