WORLD ACADEMY OF INFORMATICS AND MANAGEMENT SCIENCES
ISSN : 2278-1315
ENTREPRENEURSHIP IMPROVE OR INCREASE THE
Failure doesn’t preclude you from ultimately succeeding. In
STANDARD OF LIVING
fact, it’s often a necessary step. The best entrepreneurs
The Capital income of any man determines his standard of
don’t let the fear of failure prevent them from going for
living. Entrepreneurship has contributed to the income of
what they believe to be a great idea. Some of those
lower class and average class person’s that have engaged
risks won’t pan out, but the ones that do will be the
themselves in creativity and therefore making money on
ones that define you. Therefore, risk is key to success.
their own which has eventually
increased their standard
of living. The more you earn money the
more you will
START TODAY AND IMMEDIATELY
desire to live a life of standard and not a stranded
life.
The only true way to learn is by doing and you can’t afford to
And entrepreneurship through the development of both
sit around waiting for funding, hoping someone else
small and medium enterprises creates employment to
will come along to help you execute on your idea or
seekers of job and
increase the average income
complain that you don’t have the time. Making excuses
received by any entrepreneur and also improves their
won’t help you start a business and it sure as hell won’t
standard of living.
help you create the lifestyle you want for yourself.
ESTABLISHMENT AND DEVELOPMENT OF SMALL
OR MEDIUM-SIZED ENTERPRISE IN NIGERIA
Entrepreneurship leads to the establishment of new
companies, organization, business and also the development
of the enterprises. As stated in the last statement of the
third point, we see that it promotes enterprises because there
are creation and innovations of new things.
REFERENCE(S)
1. Allam Ahmed 2013 (Middle
Eastern
Knowledge
Economy
Institude
(MEKEI),
Brighton
Business school, of Business,
Economics
and
management,
University of Brighton, Brighton,
UK and
University of Sussex,
Brighton, UK). April 30, 2018
Sherif:
Entrepreneurship
Development in
Africa and
NigeriaSonny Nwankwo (Royal
Docks Business School, University
of East London, London, UK).
LAUNCH BEFORE YOU FEEL READY
If you wait until your product or service feels perfect,
someone else will already be doing a better job of
helping your customers solve their problems. Validate
your business idea by launching fast, bringing on a
small group of paying customers and adapting to make
your solution great for them over time. You will learn
how to validate ideas quickly and cheaply when doing.
NETWORKING IS PARAMOUNT TO SUCCESS
When you haven’t gotten your business off the ground,
connections will help to keep it afloat. When you do,
those initial helpers will turn into powerful allies.
Soon, you will be in the position to bring another
struggling startup into the black.
“It relevant to make connections and keep a record on each
person you meet”, Clare Dreyer, career expert, told
Forbes. “Ask for their advice and help. Keep in touch
with them along the way and build your network
before you need it! Quality relationships are the keys to
the kingdom”. You are advice to build a strong
networking for a great success.
BUSINESS ADVICE FOR STARTUPS
These days, it seems like everyone is hoping to become an
entrepreneur and come up with “the next big thing”.
Who can blame them? When successful, the benefits
to owning a startup are obvious: being your own
boss, creating something from scratch, bringing value
to the people around you and, of course, making a bit
of coin along the way. But the key phrase in that
equation is, “when successful”. Too often, startups
fail - 75 percent of them, to be exact, says The
Harvard Business Review. So what goes wrong?
Failure doesn’t preclude you from ultimately
succeeding
To run a good business you have to be able to assume the
proper role. If that means doing things and acting in
ways that don’t come naturally, then so be it.
Otherwise, you will risk failing like that 75 percent.
Here are some crucial points the pros agree are
prerequisites to becoming a successful entrepreneur.
TAKE RISKS AND BE WILLING TO FAIL
www.waims.co.in
NEVER
STOP
BUILDING
MEANINGFUL
RELATIONSHIPS
It very relevant to continue building great relationship with
customers and other people in your industry, choosing
to instead view competitors as potential partners and
collaborators can positively impact your business in a
big way.
IDENTIFY, LEARN AND INVEST IN YOUR NICHE
Many startups succeed because they have identified a niche
and have cornered that market. By discovering a
service, product or feature no one else has thought of
or at least effectively pulled off - you give your
company a shot at success. George Shepherd, Professor
of Law at Emory University, recommends
entrepreneurs “become the guru in that niche”.
BE A CONSUMMATE STUDENT
Long after you leave your last class, you still learn new things
every day. As an entrepreneur, you must always be a
student, willing to take advice, listen to other ideas and
learn from those who have been there themselves.
“Entrepreneurship is about solving problems and
learning on the go”, Andrew Medal wrote for
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