Dont discuss your business plans in public- Strive Masiyiwa

Strive Masiyiwa, the Executive Chairman & Founder of the Econet Group, has advised entrepreneurs to desist from discussing their business plans or pre-empting their strategies in public.

Writing on his Face book Page which gives business tips to entrepreneurs, Masiyiwa said never ever open your mouth about what you are doing in public because you risk giving your competitors an aided advantage .

“Many years ago I was on a flight, and sitting there I listened to two guys in front of me speaking in hushed tones. As I listened carefully, I realized they were from a competitor company discussing a very interesting opportunity that I had not heard about! Wow!

“As soon as I got off the plane I did two things: First of all, I moved in quickly and took over that deal from right under their nose. To this day, they don't know what happened! No regrets on my part, those were fools, wrote Masiyiwa.

The businessman said he always advise his people to never, ever, open their mouth about what they are doing in public. In addition he also advised his team not to discuss business issues whilst on the phone in public or sit next to each other on the plane or bus!

“Actually a good entrepreneur does not talk about what they are planning to do’ before the business reaches the customer. If you must, talk about what you have already done.’ Otherwise keep quiet.

“This is a principle I try to use all the time. When you get into serious business, your competitors are constantly studying what you are saying or doing. It's not just a question of being accidentally eavesdropped by the guy sitting behind or in front of you on a plane...

“And don't make the mistake of assuming certain people are harmless by observing the way they're dressed, or even their age, or gender. You can make a deadly mistake through thinking someone is not important!

Masiyiwa said, there are also detractors who, whilst not being an actual competitor, are consumed by what can best be described as a spirit of jealousy’ and will go out of their way to destroy or impede the work of others, even though there's no gain for them.

“It's part of life, so don't give them the ammunition they need, he said.

The business mogul emphasised the need to protect your plans, and Intellectual Property (IP), including ideas and inventions.

“Even on this platform (his Face book Page), please avoid giving details about what you are planning or thinking about, without taking adequate measures to protect it in the professional manner. Don't send or publish business plans to people. It is like leaving your wallet on a counter in a bar, remarked Masiyiwa.

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