7 ways a Kenyan entrepreneur can overcome business challenges

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The narrative about more than 60% of businesses closing in the first two years is scary. Nobody wants to fail. Even when your business crosses the two year birthday, you are told you will be lucky if you get to five years! Instead of gloom and doom, below are seven useful tips that will keep you focused on growing your business. 

  1. Have a positive outlook – difficult situations come as opportunities to investors to learn. Embrace the opportunity by trying new things and focusing on higher goals is a good way to approach it. test your abilities and work with what suites you. A happy face is among may ways of maintaining a positive outlook.
  2. Be open minded – it is good to seek second opinions before making the final decision. As an entrepreneur, the old ways used to handle problems may not always provide the best solutions. “I mentor a lot of young people. These youths are on Facebook and Twitter. I give them advice and tips on how to succeed in business and in life,” says businessman Chris Kirubi.
  3. Define the problem – ask the WH questions (who, where, when, why and how) to find out the root cause of the problem before giving out solutions. Do not assume that the solution is definite. You can change if it does not solve your problem.
  4. Be logical – have a clear plan on how actions or activities should be done. Maintaining a proper chain of communication as an entrepreneur will help you keep track of the strengths and limitations of your business. Back to Chris Kirubi. As much as he owns Capital FM, he works with his employees. He learned to be a Disc Jockey and he also hosts a rock radio show.
  5. Control emotions – having a rational mind set is a way of keeping emotions in check because you are letting your mind to perform your actions. Distant yourself from emotions when taking actions. It is good to take a break and tackle the problem when you are stress free instead of rushing to conclusions.
  6. Visualize solutions – get to tell weather the solutions implied can really solve the problems and what time frame the solution will take, the pros and cons of the solutions, short term and long term goals.
  7. Honesty (get realistic) – the questions of judgement made on the discoveries; have enough time to test the solutions.

Photo by LinkedIn

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