A tale of four entrepreneurs

Sensing and seizing emerging opportunities in the market place

  

Entrepreneurs have been noted for seeing opportunities where others see challenges. Their ability to tread places where others fear to venture is the distinguishing trade mark that sets them apart from others.

This week, we shall examine a popular passage in the scriptures to highlight some essential attributes of new venture creators.

The story which is about the four lepers is found in second kings chapter seven verses three to ten presents outstanding lessons for emerging entrepreneurs, and even establish businesses.   

Let me give you a little background. There was a severe famine in the city of Samaria. Food was very hard to come by to the extent that humans were being eaten. The neighboring town, Syria however had abundance of food. Having access to food will therefore demand going to the camp of the Syrians who were perceived as enemies and, that was deadly!  However, it took the courage of four lepers who took the risk to go down to the city to Samaria. Interestingly, their discovery led to the salvage of the entire city of Samaria.   

Let’s begin with the lessons……

1. ASKING RELEVANT QUESTIONS

The four lepers in case study began with a simple question in verse three: 

“Now there were four men with leprosy at the entrance of the city gate. They said to each other, “Why stay here until we die?......”

As an entrepreneur, you need to question the kind of services and products that is available in the market place. The questions on how service delivery be improved as well as how to make life easier for the customer and the latest developments in ones industry of practice are all key to competing successfully with established businesses. These and many other questions bothering on customers, branding and innovation, market leadership provides a veritable tool for attaining success at the market place. But it all begins with the willingness to take a risk!

2. TAKING CALCULATED RISKS  

Really, in business and life, there is no progress without risks. Every level of progress always involves risks. Even danger can never be overcome without taking risks. New venture creators are noted for taking risks here and there. Life itself is a risky venture. Nothing ventured, nothing gained!

Every activity around us involves risks. Think about it,  in crossing the road, you could be knock down by a car. Flying by air involves an element of risk. You could be involved in a plane crash but people still travel by plane.  How about deciding to spend the rest of your life with someone you had just known for just a few years…marriage!...it’s risky!

It is sad to note that many people will never start anything because of their risk averse nature.

Risks, Returns and Rewards

Stock market investment has a basic rule. The bigger the risk involved, the higher the reward or the returns. Stocks for instance have higher returns, high risk whiles bonds have low risks and low returns. The price tag for a bigger reward is therefore a higher risk and, this is non-negotiable! Until you are ready to take a higher risk, bigger opportunities and rewards will elude you.

Mark Twain was right when he said that  "twenty years from now you will be more disappointed by the things you didn't do than by the ones you did. So throw off the bowlines, sail away from the safe harbour, catch the trade winds in your sails. Explore. Dream. Discover."  

It doesn’t pay to be risk averse. It pays however to take calculated risk. Make a move and fail forward! 

3. EXPLORING OPPORTUNTIES 

Before every great opportunity is a bridge called risk. You can’t experience a Midas touch without stretching yourself to the limit.  As an entrepreneur, you need to seek progress no matter where you may currently find yourself. As long as you entertain fear, you will never be able to launch that product or service.

Seizing little opportunities along the path of life opens the door to other greater opportunities.  How the lepers could landed on such a great discovery and even carry the message to the king if they had stayed at the King’s gate? They saw their position as strategic and therefore utilized the opportunity to explore their dream. 

Verse five reads:

^“At dusk they got up and went to the camp of the Arameans. When they reached the edge of the camp, no one was there, for the Lord had caused the Arameans to hear the sound of chariots and horses and a great army, so that they said to one another, “Look, the king of Israel has hired the Hittite and Egyptian kings to attack us!” ^. So they got up and fled in the dusk and abandoned their tents and their horses and donkeys. They left the camp as it was and ran for their lives.
The respected ancient leading English humorist, Jerome K. Jerome in his classic, The Idle Thoughts of an Idle Fellow, remarked: 

“Opportunities fly by while we sit regretting the chances we have lost, and the happiness that comes to us we heed not, because of the happiness that is gone” .

Who knows there may be little opportunities that you could explore today by virtue of where you are now. May your eyes be opened to these little opportunities!   

4. MAKING SUCCESS SIGNIFICANT

A vital lesson can be observed in the ninth verse of second Kings Chapter seven: 

^“Then they said to each other, “What we’re doing is not right. This is a day of good news and we are keeping it to ourselves. If we wait until daylight, punishment will overtake us. Let’s go at once and report this to the royal palace.”

So they went and called out to the city gatekeepers and told them, “We went into the Aramean camp and no one was there—not a sound of anyone—only tethered horses and donkeys, and the tents left just as they were.” The gatekeepers shouted the news, and it was reported within the palace”.

The four lepers had landed on a great discovery. But they did not keep all to themselves. One of the biggest challenges confronting startups and even bigger businesses today is the attitude of keeping useful information useful to themselves. Many are just not willing to share information! I believe many of the bad debts and the non-performing loans of banks could be reduced when commercial banks learn to share information with one another. 

Interestingly, there are people who believe that you can become wiser by hoarding useful information that could help other people, but history has proved it time and again that information gets refined and becomes more useful when it is shared.

You can’t grow your knowledge base and excel as an entrepreneur by taking pride in your little knowledge. The willingness to share and learn from one another is key in making progress from one stage to another.

There is the need to have knowledge intercourse with other significant stakeholders who are connected to the business.  

CONCLUSION

The story of the four lepers presents vital lessons for start ups seeking to exploit emerging opportunities in the market place.  

Firstly, opportunities lie unexploited because potential entrepreneurs are often afraid to take a risk, but the opportunities associated with taking calculated risk always outweigh any inherent danger. 

Moreso, jumping at several small opportunities may get us there more quickly than waiting for one big one to come along. Taking risks here and there always come with some kind of benefit. 

"Take risks: if you win, you will be happy; if you lose, you will be wise”, so says a Latin proverb.

All the best!