How to Become an Entrepreneur
Are you bored with your work or have just been furloughed? Do you wish to control your own time? Do you have a dream to start a business, employ people, deliver services, and make a positive impact on society, particularly in these unprecedented times?
• The fear of failure: “What if I run out of capital and fail?”
Well, let me assure you that entrepreneurship is a skill that can be acquired by anyone. You don’t have to be a superstar to become a businessperson.
The Journey to Becoming an Entrepreneur
The journey to entrepreneurship starts with YOU. No one is going to fight your fears for you. You must confidently confront them and be decisive as you declare: Now is the time to start my business journey. If you can, I will advise that you save up a year’s worth of your living expense and set aside some investment. This would come handy on the proverbial rainy day. Waste no time anymore. Wake up, stand up, and let your business ideas start taking a practical, tangible form. This article gives you five factors you must consider if you want to become an entrepreneur and succeed at it.
The Starting Point
Just imagine: after she gives birth, a new mother has no parenting manual. How does she begin taking care of her child? She starts by trying, fumbling, and learning along the way. The same goes for starting a business. The best way is not to shun the emerging idea but to start, fall, rise, and from the lessons learned, become better. Your aim should be to establish a venture even when you don’t have all the components at a go. The best way to start is by selling your idea to people that you trust to support you. Steve Jobs, the founder of Apple, had no cash and no clients when he established Apple. What he did next is a beautiful example you can learn from:
d) Apple had been born out of nothing.
One could contend that the complex, volatile, and ambiguous socioeconomic environment in Nigeria may make it almost impossible for a Steve Job to succeed in Nigeria. Nevertheless, there are still many Femis, Ngozis and Razaqs today who are doing well in their business in the nation.
Scale the Heights
Keep in mind that no business can develop on an indefinite basis. Most companies are more effective in different sizes and stages of the firm. For example, if you desire to establish a big food business, you may realize that starting a four-person restaurant is relatively easier. However, building a large-scale catering business may be more difficult. If your long-term goal is to be big, your strategy could be to start small, then expand later.
Abubakre (PhD) is a British-based entrepreneur with an unparalleled passion for Africa, Academic, and Director with active links and engagement with Africa. He is on the advisory board of the London Business School Africa Society, lectures in a top 15 UK university and founded TEXEM, UK a consultancy firm ten years ago which has trained over 4,000 executives in the UK and Africa. In 2010, Alim was selected as one of the top 100 Virgin Media emerging entrepreneurs in the UK and accompanied London’s Lord Mayor on his entourage to Nigeria in 2015.