By Strive Masiyiwa
__”Vision is the art of seeing what is invisible to others”…
As 2021 draws to a close and you focus your planning on 2022, I want you to reflect deeply on this question: “How big is the industry in which I do business, locally and globally?”
Many entrepreneurs don’t really stop to reflect on the size of the industry of which they are a part. When I started Econet Wireless nearly 30 years ago, I could see the size of the business opportunity in Africa, let alone Zimbabwe, and Botswana. I never thought, “I will make Zimbabwe successful, then I will lay back and enjoy the riches”.
I was anxious to get out and expand outside, because all I could see was this huge market in Kenya, Zambia, Ghana, Nigeria, Tanzania. I was already scouting out these markets when I was still in Zimbabwe, with just a small business!
I also knew how big the global industry was, because every single day I read articles about companies like AT&T, Vodafone, and China Mobile. I followed their deals, and tried to learn about products, and innovations they were developing.
I was one of the first people to launch the “Prepaid” payment system in Africa, after learning about it in an article when it was just an innovation in Israel!
As I looked at the industry further, I could see opportunities beyond Africa, and yearned to get to Europe, Asia, and even the Americas.
When you understand how big your industry is, you will also see that its opportunities are endless! You can diversify and pivot within that industry, without ever having to leave and join another industry.
“What do I think of the property business?” I think it’s great, but it’s not my game!
“What do I think of the oil business?” I think it’s great, but it’s not my game!
“What do I think of the agriculture business?” Very important, but it’s not my own game!
Sometimes for reasons beyond my control, I might have found myself owning a business outside my industry, but as soon as I get a chance, I’m out. I loved our Coca-Cola bottling, newspapers, our hotels, etc., but I got out as soon as I could, even though they were very profitable.
Why?
“Not my game!”
When I was in junior school, I played every sport but when I was in my final senior year, I was only playing rugby in the senior team. Yes, I could play soccer and cricket, and even swim, but every day we trained for rugby!
Investors generally don’t like to invest in a business that is in multiple industries. If you go to such companies on the stock exchange, you will find that generally they trade at a “discount”.
If you think you know the size, scope, and opportunities offered by the industry you are in, then you are really a beginner!
I know some of you will want to immediately point me to “big guys” in your local market who seem to do everything, and they always seem “bucksed Up” but if truth be told, they are not that BIG… JUST DON’T TELL THEM THAT!
Actually, you might even think of how you can build things the industry has not yet seen!!
That is where I want your #Mindset to be as you launch into 2022.
“Vision is the art of seeing what is invisible to others”. Jonathan Swift
• Strive Masiyiwa is a telecommunications guru and founder of Econet.