AfricanLion,
Eagerness is great, but take the steps in order to stay safe, and within your capacity. Flying "instruments" is a skill to be developed hundreds of hours into your piloting, rather than as an entry point objective. The specific regulations vary in different parts of the world, as do the details of equipment required in the aircraft. I venture to guess that before you could get to an "IFR qualified" pilot level, they may have evolved more. A 701 could be equipped to be instrument flight capable, though equipping the aircraft to be safe and effective at that could be expensive, perhaps approaching the cost of the aircraft itself. However, as a simple, single engined aircraft, it is not possible to equip a 701 with legally compliant redundant systems to make it a really safe instrument aircraft. With one engine, some of the dual systems which are reassuring to have, are nearly impossible to install.
I'm confident that the 701 has evolved as it has grown, I've seen some which appear to be very capable simple airplanes. I have not flown a recent one, though I did fly a number of hours on the very first one produced back in the early 1980's. Having flown that aircraft, I chose to buy a C 150 with a STOL kit instead. I'm happy with that choice in hind sight, and still own that 150.
It is possible that you have happened across the various videos of 701's taking off, as well as other light STOL types. These videos typically show the aircraft leaving the ground in a delightfully short distance - very nice. However, some go on to show protracted slow, steep climbs afterword - alarming! Though capable, and possible, this aggressive piloting definitely puts the airplane in a place in the sky, from which a gliding return to a safe landing could be impossible. This reality of STOL operations is very poorly trained and understood. I know pilots who have been killed and seriously having placed themselves (and in some cases, their passengers) in this very dangerous place - for no good reason, other than excitement.
The people who are "selling" you on something, including flying on instruments, the delights of amateur built aircraft, and STOL airplanes, are great at showing capability, and possibilities, though sometimes fail to present, or even understand the other operational factors, which one should also consider.