The Wise Entrepreneur

7 Reasons Why Successful Entrepreneurship Requires Deep Thinking

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Hiya! Let’s dive straight into my subject of the day, which is deep thinking.

Why deep thinking? Do you know that many people today do not think deeply? The world has simply become too busy and crowded with too many things that oftentimes hours and days zoom pass us; with people too busy to provide time for some deep thinking. Don’t you agree with me? Just think about the clutter of information, I mean information overload we have in today’s environment. Every minute, hour and day we are surrounded by the internet, social media, the TV and other forms of entertainment that sometimes makes people stupid, lazy and unhealthy. Don’t blame me for using strong words. Of course I also know that there are vast potentials for good in those resources but probably only 5-10% of people harness those great opportunities. The rest simply entertain themselves and waste precious time while giving unwarranted revenues to some players and stakeholders in the digital world. It’s not bad to give a company revenue but also think about revenue coming into your pocket. Lean purses are not good!

When I talk about deep thinking I mean quality and critical thinking. I will try and keep it simple, without getting into very technical and mind-damaging definitions of deep thinking. By deep thinking I mean higher quality thoughts without distraction, with high concentration and focus. I’m not talking about multiples of random and superficial thoughts that simply overwork and heat that brain of yours for no apparent reason. I’m talking about useful and valuable thoughts. Deep thinking is hard work and this is probably the main reason why people avoid it as much as they can. Nevertheless, others are simply clueless about deep thinking. For the majority of people, the mind defaults to something usual within the comfort zone of thoughts and yet this kind of limited thinking has many disadvantages. It destroys potential, limits productivity and disorganizes peoples’ dreams with resultant lack of achievement and accompanying frustration. The mind could default to working, chatting, playing, watching etc., and not thinking.

For an entrepreneur, the lack of quality and deep thinking will reflect in many things in an enterprise. It’s easy to identify enterprises where nothing that resembles deep thinking exists. Don’t you think so? The majority of these are what I call accidental copy cats – enterprises whose owners just found themselves in business without much thought, planning, enthusiasm and passion, and of course quickly copying someone else possibly to the 100 % level, and just dragging by without creating any significant value. Nothing new; nothing unique – and everything is so plain. No mission and vision statement. There is no big agenda, no strategy but simply existence. In this situation, business success and growth hardly results. Even getting customer or client referrals is difficult because people do not see value in the products and services of the enterprise. Now, Mr. Entrepreneur, I don’t think you would like to own such an enterprise. This is why I’m writing about deep thinking today.

 So, why do I state that successful entrepreneurship requires deep thinking?

  1. First class and successful entrepreneurship hinges on innovation and uniqueness and these arise from thoughts. Candidly, if you look around your environment and consider the businesses that you think are successful, the story behind them is usually some serious and innovative thoughts that created some uniqueness. Beyond your environment, there are very interesting products and services that keep us glued to them forever. Can’t you name some of these products and services? The successful multinational corporations you see today hinge their success on innovation and hence valuable and rewarding thoughts. Do you think an enterprise could do exactly the same thing and remain operating for decades and centuries? I highly doubt that. The ingredients of business success require deep thinking. Creating and delivering value that customers or clients will always be willing to pay for, and delivering that value in a way that delights your customers, with that efficiency and effectiveness that generates for your enterprise profits, requires deep thinking. Successfully competing in the dynamic and complex global business environment requires deep thinking. Ok?
  1. The renaissance period was a period of significant development for humanity, and something to learn from. The famous renaissance period, commonly referred to as the rebirth of knowledge, brought with it dramatic and long-lasting effect to humanity. We all know that great scientists, mathematicians, technologists, philosophers, artists, writers etc. emerged during that period.  The likes of Martin Luther, Christopher Columbus, Vasco Da Gama, William Shakespeare and others arose during this period. Great discoveries such as the telescope, watches, the gun, blood circulation and human anatomy etc. were made during that time. This is why great thinkers today are referred to as renaissance people, and also the idea of renaissance mentality springs up. Now, my dear entrepreneur, I’m not simply boring you with history that is not even relevant to your business. What I’m saying is that you need to think deeply if you really want to have a very successful business. You might not discover another earth, but you might build a top ranking and award winning enterprise. You might not add value to the theory of blood circulation, but your medical facility might be an example of the best place to practice applied medicine. It’s a shame that we keep on referring to those great folks of old, because we can hardly identify and name similar ones today!
  1. Thoughts are things. By the way, do you believe that thoughts are things? Have you ever entered into some offices and business premises were almost everything is just cool, and very attractive? I mean the kind of environments where you are not in a hurry to leave, though of course you have to leave eventually because it’s business that brought you there. Also, you don’t want to be seen to be idle. Right from the reception to the aura around the office, the way staffs handle you, quality of products and services etc. you simply feel valued and at home. The products that would rank first in your mind whenever you think of buying something, came from somebody’s thoughts. The unforgettable customer service that you will tell anybody that cares to listen, was someone’s design and focus. The hospitality industry is way above the other industries when it comes to this. Beyond this, and also considering other aspects of business, enterprises usually achieve this level gradually but with some ideas and hard work. Never imagine that the above good things arise out of nothing. They arise from good imaginations, thoughts and actions from human beings like you and I. Thoughts are things. Come on my dear entrepreneur! Do you now see the value of deep thinking? Can’t you learn and adapt some of these best practices you see in other enterprises? This is another vital reason why successful entrepreneurship requires deep thinking.
  1. The quantity and nature of valuable thoughts you have translates into the quantity and nature of valuable actions you take. Deep actions come from deep thoughts. If you choose to be an idiot in your thoughts and actions, your business will reflect this. Likewise, if you choose to be an intelligent entrepreneur, your enterprise will reflect your intelligence. This is why I confirm that successful entrepreneurship requires deep thinking. Deep actions in your business, that will propel the business forward towards success and sustainable operations, come from deep thoughts and actions by the owners and staffs in the enterprise. By the way, never underrate the impact of the people you employ in your business. The fact that you the owner cannot do everything in the business means that you rely on people to develop the business, of course still with you as the key decision maker. When you see companies crossing borders and sourcing for talent globally, you should not blame them. The quality of human capital you have in your enterprise determines a lot about your enterprise. Deep and valuable thoughts result into deep and valuable actions that eventually translate into deep and valuable results in your business. Do you understand me?  
  1. Wealth is in ideas and not in money and other business resources you might have. Another reason why business success requires deep thinking is the fact that wealth is in ideas and not in money. Please don’t brag around the city because you have zillions of money in your bank account (whichever the source), or you have the most sophisticated piece of machinery around. Don’t even terrorise other businessmen because you have the largest land reserve, or your head office is a masterpiece of architecture in this modern age. You can fail terribly and catastrophically in the business world with that money and other resources you have, if you don’t have the intellect to manage and utilize them. Wealth is in ideas (valuable thoughts) and not the machinery and money in your bank account. Period! If you don’t know how to connect the dots in the entrepreneurial streets, you will remain the same you year in and year out. While others effectively and efficiently utilize their business assets, the non-brainy ones will blame government policies, competition, poor market etc. perennially. Some will run even when no one is chasing them.  
  1. The copy-cat mentality will always make you follow others forever instead of leading the way to uncharted territories. Entrepreneur, I know that I have used this copy- cat phrase severally in my blogs, but it’s for a purpose. I’m trying to address entrepreneurs who are simply replicas of their competitors, without anything new they have added to their business. When you simply follow what others are doing, your enterprise will have limited opportunities. With that attitude and approach, you need to work very hard to convince people to come to your business. When you move a step higher by copying but afterwards making valuable modifications, creating your unique value propositions and unique selling points, people start seeing something that should make them come to you instead of going to your competitors. This enables you to create some differentiation and earn some competitive advantage. Again, when you take it further and break new grounds through innovation of products and services, including delivery excellence, you could take the lead to uncharted territories and this will make other entrepreneurs envy you and even start following you along that direction you have taken. Don’t you agree with me?  
  1. The sum-total of the business or business empire you create is in your thinking, and cannot be changed without thinking. Deep thinking is also mandatory for an entrepreneur, because the sum-total of the enterprise comprise the thoughts and actions that go into it. Thinking and acting wisely on those thoughts create the realities in respect of your goals and objectives in your business world. You can think your way out of business challenges and set-backs. You can think your way into business growth and development. Do you know that deep thinking even takes over from that point where machine intelligence ends? There is nothing for nothing. Never imagine that you will be successful in business because of luck or something. Don’t let the vast opportunities around you deceive you. Don’t think that because you have some extra cash in the bank then you should splash in on a new investment without thinking. Ok?

As I conclude, let me quote what Isaac Asimov said; “The saddest aspect of life right now is that science gathers knowledge faster than society gathers wisdom.” The world needs wise entrepreneurs. Wise entrepreneurs are deep thinkers. Never allow the art and science of deep thinking to go extinct Mr. Entrepreneur! Are we together?

Respectfully – and till then,

The Wise Entrepreneur

Picture of Clayton W. L. Mwaka

Clayton W. L. Mwaka

Clayton W. L. Mwaka, a Ugandan chartered accountant and motivational speaker with 24 years of diverse experience, specializes in business administration, international consultancy, and lecturing. He advocates for personal empowerment through balanced living, qualitative leadership, and paradigm shifts, aiming to unlock individual potential globally.

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