Othello

Black Entrepreneurs Must Hunt Opportunities Like a Lion

In the vast and majestic wilderness of Africa, the lion reigns as the undisputed king of the jungle. Known for their strength, agility, and exceptional hunting skills, lions are apex predators that have perfected the art of hunting over thousands of years.

Living in prides, their unique social structure, consisting of related females and their offspring and a few resident males provides them with various hunting advantages.

Females in the pride often take on the primary responsibility for hunting, their agility, speed, and endurance make them effective hunters, capable of running down and overpowering prey. While males typically serve as protectors and defenders, their size and strength allow them to fend off potential threats or assist in bringing down larger prey.

This division of labor within the pride ensures each member has a role to play in securing sustenance for the group. Working together, they can plan, coordinate, and execute their strategies to perfection.

When it comes to growing their businesses, Black Entrepreneurs must utilize their competitive advantages, know their capacities to take on larger projects and work with their teams to hunt opportunities like a lion.

Utilize Competitive Advantage

Lions possess exceptional night vision, allowing them to see in low light conditions, a skill many of their prey lack. This advantage makes them formidable hunters during both dawn and dusk when many other animals are at a disadvantage. Their tawny fur acts as natural camouflage, aiding in their ability to blend in with their surroundings and their acute hearing and sensitive whiskers further contribute to their hunting prowess, aiding in detecting the slightest movement or sound.

Black Entrepreneurs must utilize their competitive advantages to secure new opportunities and gain an edge in the marketplace. Competitive advantage is a distinct feature or characteristic that sets a business apart from its competitors and includes such factors as unique products or services, cost, use of technology, superior customer service, effective branding, strong distribution networks, and high barriers to entry among others. This advantage enables small businesses to outperform their rivals, attract new customers, and achieve higher profitability.  

Customer surveys are a great way to identify your competitive advantage. Understanding what your customers like about your products or services and why they purchase from your business will help Black Entrepreneurs promote their unique offerings and identify the right opportunities to pursue.

The marketplace for business opportunities is extremely competitive. Opportunities are won or lost based on the tiniest of margins.  Black Entrepreneurs who utilize their competitive advantages to identify opportunities that give them the best chance of securing a contract will be more successful in the marketplace.

Know Your Capacity 

Although lions are known to adapt and target dangerous prey when specific circumstances demand it, lions will rarely hunt prey that poses a risk to their survival.  The African Buffalo is one such prey. Weighing up to 2,000 lbs. with goring horns, the African Buffalo is more than capable of defending itself against any lion. A single gouge from an African Buffalo can be fatal.

Black Entrepreneurs must know their capacities and avoid opportunities that pose a risk to their business survival.  Such opportunities include:

1. Opportunities that are too big or too small. Taking on projects that are too big will exhaust your resources and lead to employee burnout while taking on projects that are too small will chew up precious time with little or no return on investment (profit). When projects are too big or too small it’s best to refer these opportunities to a partner.
2. Opportunities that exceed your financial capacity. Your financial capacity is your ability to finance the project, including payroll, expenses to perform the work, insurance, and maintenance of vehicles and equipment, and any other project-related expenses. If you don’t have the financial capacity to complete the project, all business operations on the project and others will quickly come to a halt.
3. Opportunities that are outside of your scope of work. The scope of work should align with what you do best, creating a competitive advantage and providing maximum value to the client. Never take on projects that you don’t have the expertise to complete. Word of mouth travels fast and if you don’t perform to the best of your ability, you may find fewer opportunities down the road. 

Develop a Strong Team

The lion’s ability to coordinate their efforts and work as a team allows them to execute successful tactics to bring down prey much larger than themselves. A lion pride will use the cover of the grass to remain undetected while stalking and surrounding their prey, cutting off all potential escape routes. Once within striking distance, they launch a sudden and swift attack.

Black Entrepreneurs should develop a strong team to pursue opportunities (see the Black Entrepreneurs Journey) that give them the best chance of securing new contracts. A high-performing team can identify opportunities that give the business a competitive advantage and avoid opportunities that expose the business to unnecessary risks due to lack of capacity.

A high-performing team should include:

A Scout – someone who looks for new opportunities to grow the business. The Scout should know the business’ competitive advantage, capacity, and ability to perform the scope of work.

An Estimator – someone who can estimate the total cost to complete the project. The Estimator should include equipment and vehicle maintenance costs as well as insurance and contingencies for unforeseen conditions.

Contract Reviewer – In the event the entity requesting products or services uses their contract, Black Entrepreneurs must have someone to review the contract to mitigate provisions within a contract that could increase their exposure to risk and liability.

Contract Coordinator – someone who will shepherd the contract to fruition. This person will serve as the liaise between the client and business owner, making sure that all of the necessary documents are executed and every detail is attended to or addressed.

Although it is often the case that Black Entrepreneurs serve many or all of the team roles, Black Entrepreneurs must develop a team to secure new opportunities. Once the team has been developed and trained to secure the right opportunities – everyone eats.

Conclusion: The hunting prowess of lions is a testament to their remarkable adaptation and survival skills. Through cooperative strategies, stealth, and cunning, these magnificent creatures have honed their craft over generations. As we marvel at the lion’s hunting techniques, Black Entrepreneurs can practice the tactics used by lions to secure new opportunities. By utilizing their competitive advantage, understanding their capacities, and working with their team, Black Entrepreneurs can secure opportunities to grow their businesses.