Business And Entrepreneurial Development Series 0.2:-Israel Olutomi
Last week was the first in the Business and Entrepreneurial development series. We perceived some steps which we need to follow if we so wish to succeed in Business. Today we would go through the second series of our business and entrepreneurial development series with a fine toothed comb.
Everyone has heard about entrepreneurship and virtually everyone is tempted by the idea of been an entrepreneur but 80% of those who venture into entrepreneurship fail woefully in their bid to become entrepreneurs. Many forget that everything in life has its rules and regulations. Every step you take in life has guide lines that must be strictly adhered too to succeed
To become a great footballer is not a matter of dreaming about it then waking up and take up a ball and believing that you are the next CR7. there are trainings and body conditioning exercises you must do;
- Constantly practicing your trade craft
- Never saying never
- Never bowing down to defeat.
The same applies to a DJ. Most who are privileged to reason in this direction and decide to become entrepreneurs always forget that entrepreneurship is all about risk taking. It even carries a bigger risk than you been employed.
But if you get your facts and figures right you would love been an entrepreneur And never want anything else.
Note: Entrepreneurship is not for the faint hearted but for those who had made up their mind that its this venture or nothing else.
It’s for those who are ready to give their waking and sleeping hours to been entrepreneurs.
Here are some STEPS TO ACHIEVING SUCCESS IN LIFE AS A ENTREPRENEUR:
Step 1 to be a successful entrepreneur is to know where you are going : The fact that you noticed that a particular person is happy because of a certain deal they are into doesn’t mean you should take that same deal. Taking it might be a Natural recipe to disaster.
Step 2 You need something more valuable than money.
It’s become a norm for every one trying to set up or own businesses to pick up the song of no money to set up, that shouldn’t be. The greatest thing you need before you can be in business is you having an “IDEA” i.e something that sets you apart from the crowd. What’s the big deal in having all the money when you have no idea to invest in?
Step 3 Become A Fast Follower Don’t ever rush into any new business, but there’s a great clause. If you find a new viable business, think about how you can make the business better, unique and more profitable than the initial owner of the said business and rush into it. Many successful business men you see today are not the original initiator of the said business through which they became wealthy. They simply saw an opportunity and were fast in following up in a better packaged manner, now they smile to the bank daily. What’s stopping you from doing the same?
Step 4 It’s not where you start but where you finish that counts Starting small is a good way for you to learn every shortfall, loopholes, pitfalls, strength and secrets of the business you are entering into. When you’ve known all there is to know about the business then it gives you a great opportunity to grow in leaps and bounds and that’s what matters.
Step 5 Ask For Help You Would Be Surprised What Will Happen: When you are genuine about what you are asking for and if you ask in the right way, you might be surprised who’ll be prepared to help you. Although, don’t expect people to help you for nothing, for those who charge you, be happy and willing to pay for the help.
As we all know that we value that thing we pay through our nose for
Step 6 Get Educated My brothers and sisters from the East would understand this better.
No matter the business you want go into “pls pls and pls be educated on that business”.
There are some trade secrets to every business that you would never know about if you don’t get educated about that business.
Step 7 You Can’t Sell Dog Food to Dogs In whatever field of business you might be involved in always remember that you need to deal with the right set of customers. Truly a dog might be hungry, but do you sell/advertise the dog food to the dog? Definitely you only sell to the owner of the dog so know your customers pretty well.
Step 8 Integrity, The Soul of a Successful Entrepreneur At no point in time should you sacrifice your values. Set a standard and stick to it rigorously. These can be moral ethics, business standards or product standards. Bending your values will make you feel worthless, destroy your confidence and eat at your self-esteem. Don’t sell out for anybody or any amount of money. If your values are strong enough, real success will come.
Step 9 Know your competition
You should never underate the power of your competition. Whenever I consult for businesses one advise I give is for them to buy whatever their competition sells. Monitor your competitors. Especially their customer relations, product standards and monitor their media presence.
Another thing of note is this. Don’t chase after money but chase after excellence then and only then would success and money chase you day and night
You should also know that Achieving success in life is a slow process, but quitting wont speed it up