WORLD ACADEMY OF INFORMATICS AND MANAGEMENT SCIENCES
ISSN : 2278-1315
Competition: The world is a global market. And as
hurry, he/she must first be observant of the market, make
entrepreneur, your major drive must be towards competing
research to find out about businesses that are successful and
with other entrepreneurs like you, mostly in the same field
those that are not and what made it that way etc. then he or
or a new field you are venturing into. Because as an
she can now have a rethink of either willing to face the world
entrepreneur you must learn to have a competing spirit in
of entrepreneur or not. That an entrepreneur can do that, then
order to survive and sustain yourself in the global market.
give him/her time, no matter how little the beginning is, over
Take a look at football, when a club employs you as a
time it will become a city to behold by everyone.
manager all they require is that you win trophies and keep
growing the image of the club, the moment you fail to do
HOW AN ENTREPRENEUR CAN ACHIEVE SUCCES
that, no matter your profile they sack you and bring another
who will suit into that role. This is because of the gross
Must be willing to learn: Most times, once he/she views
competition there, so as the same way the management is
him/herself as the boss and cannot be approached, over time
thriving for a competing spirit, they believe that you as an
things will go doldrums without a cause. It such cases, it only
employer must have more of that. Another instance is the
takes a humble entrepreneur to sit with other staff he/she is
phone company, whereby you have different products who
working with to find solution. So, as an entrepreneur, you
are beginning to make productions which can serve as a
must be opened to learning and hearing the views of others,
threat to other brand; that leads to serious competition in the
and as well share you fears to trusted people within the
market too. So, as an entrepreneur you have to know and
establishment
then be able to suit into the present system and then be able
to sustain yourself. And the only way is when you are able
Must be a leader: For one to be a successful entrepreneur, he
to ask yourself relevant question, answering them and then
must be a leader. Someone who leads, ready to accept blame
applying them.
in the place of others, and must as well learn to mentor others
to be leaders too. He/she has to be the one with the largest
Discouragement: Many times, as an entrepreneur you ought
heart, must accommodate everything and if possible provide
to have a set target towards how to meet and achieve your
solutions to all their pressure faced by workers, management,
goals, the moment he/she finds out that it is not working out
establishment and so forth.
as planned and all efforts to make things come to place seem
impossible, he/she easily feels discouraged. In most cases, a
Must see those he/she is working as co-partners in building
lot of thought filter the mind, thinking of what to do next,
his/her dreams/establishment: Was told of the story of a
give up? Seek advice and counsel? Ask questions from those
boss who always shouts at his coworkers, thinking that he
who have gone ahead? Or perhaps hold his/her fears? As an
cannot be approached by any of them since they are all under
entrepreneur what you do in times of discouragement is
him, over time, a transaction was made which was on the
what produces that output that tomorrow others will want to
higher side and advantage of those they made the transaction
learn from.
with, other workers noticed the error, but none of them could
Inability to meet set targets: in economics, we were thought
approach him to let him know of that; by the time he found
the law of demand and supply; it goes this way that when an
out it was too late so he had to pay. Once you are a boss, you
entrepreneur is into the production of goods and services,
must know that you a the least and must be the most friendly
and had wider customers; most times he/she produces in
of all, only through that will you make all hands work towards
large quantity so as to meet the demand of his target. Once
achieving all that you have in heart.
he/she does that, he/she satisfies his/her customers and
makes them become loyal; but the moment he/she has such
Must employ hands who have the same goal as he/she
a wider network but could not meet the needs as at when
does: One thing that ruins the success and stability of most
demanded he/she gives a wrong impression to his customers
entrepreneurs is employing hands as a result of friendship or
and that either cause a lot of them to look for other service
trying to minimize resources, but they never thought that that
providers for satisfaction or ruins the effort of that
is a major error, it is not bad to employ someone close to you
entrepreneur. Entrepreneurs must be very careful and must
but that person must have that heart and see from the same
apply wisdom so as to meet the need and satisfaction of their
perspective as you do. Because that danger of such is that
customer so as to sustain the relationship.
while other hands are working towards the growth of the
Faulty foundation: What drives one to become an
establishment he/she can be that one factor that will ruin thing
entrepreneur? Profit? Name? That is the first thing one must
down; when also to minimize resources you will end up
ask when over time an entrepreneur could not sustain his/her
having the man power but what is delivered in the market is
business of customer base. The moment and individual has
not worth it. Every entrepreneur who wants to achieve success
that kind of mindset rather than how to create impact and
and be at the top of the game must partner with those who at
add to the growth of the society, even if it takes years to
the end will not regret giving their best to the dream/goal that
stand over time it will crumble and have no form of
one person was able to start. We can go on and on raising
identification in the competing market of that time, but the
other points, but at this point, I feel the world need a new
moment an entrepreneur has a positive mindset like the
breed of entrepreneurs that will carry a vision to become
Rockfeller, Canergie and so on decades after decades there
leaders, hold the hands of others (either the young
will always be a trace of the foundation.
entrepreneurs or other workers or individual) to see that they
imbibe a positive mindset in them, and teach them the values
Asking and answering that right questions that matters
most: Any serious or likeminded entrepreneur venturing
they have gone through making it known to them that the
into the entrepreneurial world, will never be in a
entrepreneurial world is a lucrative place where you can
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