BE
BE
by Jemimah Adesina
for that business
and acquire them
through training.
▶ How do I manage cost and overhead
expenses?
▶ Start small and
grow; this helps
you understand
the dynamics of
the business and
helps reduce the
weight of your
loss in the beginning stages.
▶ Learn from
other peoples experiences i.e. seek
advice, read other
peoples success
stories, books etc.
W
atching ‘The Apprentice’
by Donald Trump and understanding the concept of
starting a business on your own, brings
home the realities of being an entrepreneur. Everybody desires and hopes to
build a business and the desire is not
sufficient enough. Certain factors contribute in making an entrepreneur successful.
For you to begin the process of entrepreneurship, you need to do the following:
▶ Write down your vision clearly.
▶ Identify the types of businesses that are
around you with the same concept and
identify what makes yours better.
▶ Prepare a business plan
▶ Identify the necessary skill needed
▶ What remittances to government and
other public agents am I obliged to give.
Focus: because there will be a lot of
‘To be or not to
be’ is the question
to ask oneself not
in the way that suggests that you should
never be an entrepreneur but rather what
ways can you help yourself in the process
of becoming an entrepreneur.
One way is to be an employee before
becoming an employer. You may ask
why. Understanding the structure of any
business is as important as the business.
Many businesses today lack structure
which is the bane of success for any idea
or vision that you have. In a structured
environment you would learn the following:
▶ What kind of management system is
best for the organisation you want to set
up
▶ What financial accounting system you
need to put in place.
▶ How do I handle staff welfare issues
(salaries, taxes etc).
J U N E 2 0 1 4 MeMag |
These among other things you would get
in order to help structure your business
for success.
Being an entrepreneur requires focus,
diligence and tenacity, of which are not a
walk in the park.
distractions along the way, seeming better opportunities in other institutions,
your flaws will be pointed out and emphasised which is a major distraction
and so on
Diligence: this is a principle of life
in which the option of escaping is not
available except for the instance of the
lack of desirability to succeed, but if that
is your intention, to succeed, you cannot
escape being diligent taking time to make
sure you are consistent although not at
the expense of change. Embrace change
but be consistent when the change is
made.
Tenacity: you can refer to it as un-
wavering faith and belief in the business
you are about to start and you will not
be wrong. Regardless make sure that you
do not let go of the tenets or premise of
which will constitute the foundation for
which every other thing will be built
on. For in the time of trouble and wind
cracking nerve racking travails they will
be all that is left to hold on to.
So take the time to count the cost before
build so that you will be sure of your
foundation and rest in your building.
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