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By Lara Rosmarin, Head of Entrepreneur Development at UVU Accelerate
Over the years, my perspective as an entrepreneur has undergone a profound transformation. There are several core principles that I carry with me on this journey, both as an entrepreneur and as an executive who collaborates with, learns from, and helps other entrepreneurs grow. In fact, UVU Accelerate has successfully empowered over 2,000 female entrepreneurs through our Women in Business programme. These principles have been battle-tested and become integral to my journey, serving as a blueprint to navigate the rollercoaster ride of entrepreneurship. I also recommend them to other women entrepreneurs.
- The power of support
To succeed in life, you must accept that you will inevitably stumble. It’s a natural law for those striving to achieve more. For me, the love and support of my family and inner circle have been crucial in helping me keep moving forward. If you weren’t born into a supportive family, seek out a group of people who treat you like family.
Through UVU Accelerate’s Women in Business programme, we’ve witnessed how this principle transforms businesses. What started as a tech enablement initiative has evolved into a thriving ecosystem of highly skilled female entrepreneurs who support each other’s growth. Unlike traditional competitive dynamics, we see a strong culture of collaboration and mutual support among women.
- Transforming struggle into fuel
The ability to transform negative experiences – rejections, losses, and setbacks – into fuel for moving forward is a skill worth mastering. The quicker you can process these emotions, recalibrate, and continue your entrepreneurial journey, the more time you will spend in the field.
This resilience is crucial, especially considering the latest Global Entrepreneurship Monitor South Africa Report, which reveals that South African women are exiting their businesses at a higher rate than they are starting them. Processing feedback effectively is a game-changer in shifting outcomes to your advantage.
- The right lens
When facing a challenge, looking at it from the right perspective is important. I’ve often had to pull myself back and realign my thinking. The ability to step away from your own narrative and explore the perspectives of others can provide a much clearer picture.
Dr Danika, a participant in our Women in Business programme, exemplifies this principle. Initially operating her medical aesthetic practice from home, she gained a new perspective, enabling her to negotiate a partnership with the Life Day Spa Group. “Doctors are notoriously bad at business – we’re taught to help people but not how to run a practice/business. I had zero business knowledge when I started. I would never have had the confidence to do this without the knowledge I gained from the programme,” she shares.
Dr Danika’s success demonstrates the transformative impact of targeted support and mentorship.
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- Knowing when to pivot
While it is important to keep moving forward, knowing when to change direction is equally vital. I have often spent too much time trying to solve problems with no viable solution instead of choosing a new direction. Your time is finite; make sure you are spending it wisely. Through our programme’s emphasis on digital skills and tech enablement, we help women entrepreneurs optimise operations and increase efficiency, aligning with recommendations for empowering women in business through digitalisation.
- Embracing joy and the unbalanced
The entrepreneurial journey is a rollercoaster. I’ve finally learned to harness the joy in it all – the small wins, the big wins, the private victories, and those shared with others. I encourage female entrepreneurs to become comfortable with discomfort. A balanced entrepreneur is an oxymoron. You will need to prioritise different aspects of your life at different times. Embrace the unbalanced journey.
- Listening to the whispers
The universe whispers to us. Some call it gut feeling or intuition. Female intuition is in a league of its own. The ability to tune into these whispers and incorporate them into your decision-making adds another level of awareness.
These principles have become part of my compass, guiding me through the highs and lows of entrepreneurship. They remind me that while the path is unpredictable, there are always constants, our principles that we can rely on. These keys help us not just survive the entrepreneurial journey but thrive on it.
Lara Rosmarin is the Head of Entrepreneur Development at UVU Accelerate – the entrepreneurial development and incubation arm of UVU Africa, dedicated to empowering and supporting entrepreneurs across the continent.
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