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Entrepreneurship
is a practical concept where the entrepreneur, businessperson or starter identifies an opportunity, acts on it and
converts it into a money-yielding venture, nurturing the business till it
becomes a large empire. The business history of all successful companies,
business corporations and conglomerates indicates a common line of skills
possessed by the founders. Emeka Agbo Blog, in their quest to promote the spirit of entrepreneurship while
alleviating the rate of unemployment and youths dependency, clearly expound the
skills and strategies successful entrepreneurs employ in building their
businesses. If you are an aspiring or a young entrepreneur, you need to
cultivate the following expertise.
- · Be Sensitive to Opportunities
This
is the very first skill every aspiring entrepreneur needs to develop- the
ability to detect opportunities. Founders of successful companies today were
and remain sensitive to opportunities that come their way. This remarkable
ability gives them an edge over others. And most importantly, they do not wait
for opportunities, they embark on a journey to search for it, and sometimes
they create the opportunity themselves.- · Don’t Just Identify - Act on Those Opportunities
Results
are not gotten at the identification stage. Entrepreneurs get their upshots
when they act. Entrepreneurship process does not just start with pinpointing an
opportunity. In fact, even non entrepreneurs can still develop skill no 1, but
acting on those opportunities to produce results separates an entrepreneur from
non-entrepreneurs. You must act on opportunities to produce your desired
results!
- Know How Long to Persist and When to Quit
Is
quitting actually in the negative connotation? The answer is an emphatic NO for an entrepreneur. Quitting can be considered to be positive at
one point and negative at another point. Entrepreneurs tend to be more
reluctant to quit a project because they have envisioned the outcome right
before they embark on it. If they are getting the wrong results, it could only
be they have not done it the right way. The most important thing is that
entrepreneurs know when best to quit. They are ever persistent and when it’s the
right time to press the Quit button, they would certainly do.
If you desire to be an entrepreneur, persistency
should be your watchword while you know the right time to quit.
- · Be Passionate about your Ideas
Passion
is the burning desire of every entrepreneur that makes their ideas come to
reality. Passion is the fuel that propels every entrepreneur to success. Entrepreneurs
are very fanatical about their ideas and therefore are driven to the point of
its realization despite whatever challenges that might come their way. If you
are not zealous about your idea, there is every possibility you will fall off
the track on your journey to success.
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- · Be Conscious of Goal Accomplishments
Entrepreneurs
are excellent goal getters. They set goals; and never fail to accomplish their
goals. They must always have targets on
the short, medium and long term basis. Entrepreneurs understand the need for
the different goal strategies. The long term goals are a compounded sum of both
the short and medium term goals. The essence of setting up your short term
goals is to enable you meet up with your overall targets for the year or any
designed period you set, and then examine your success from time to time through
the short term goals. If you really want
to become an entrepreneur, you must set goals and check your progress from time
to time through the accomplishments of the short term targets.
- · You must Have Inner Motivations
Just
like passion, entrepreneurs have motivations that flow from within. This
motivation constantly energizes and empowers them to work. Even when their
friends, family members, colleagues or non-human factors tend to discourage
them, they feel motivated from inside and therefore never lose sight of where
they are going. Have and maintain inner motivations; they keep you moving especially
at the point of startups when you have limited resources at your disposal to
work with.
- · You Must Take Calculated Risks
Entrepreneurs
are not gamblers. They do not stumble or surge into investments haphazardly.
They study and make proper analysis of any investment they want to embark on,
and understand all the risks involved and possibly minimize them before flying
into the investment. Meanwhile, they are not afraid of losing should the
investment yield negative results and they are never discouraged if the outcome
does not favor them. If you desire to become an entrepreneur, you do not have
to take risks, instead you take
calculated risks! That’s the difference between entrepreneurs and gamblers.
- · Be Empathic about the Needs of the People in Your Environment
Entrepreneurs
succeed because they identify people’s needs and problems and desire to solve
them. This theory is what has created the wealth of every successful person in
the world all over. It doesn’t matter the class, race or religion of people whose
needs or problems you are solving. So long as you constantly provide solutions
to them, you have your business continually growing beyond limits.
- · Be Conscious of Time
“Time is money”
is a very important axiom every aspiring entrepreneur must absolutely digest
and understand. If you are aiming to become an entrepreneur, you must
understand the value of your time. Money is a proportionate function of time.
Don’t waste your time on things that would not grow your business idea,
otherwise you will sit down someday only to start counting your losses.
- · Think outside the Box
Entrepreneurs
never run out of ideas. They think outside the box and bring ideas into
reality. They know the right solution to every problem and must always confront
problems as challenges-without complaining. In other words, they solve
problems, they do not compound problems. Every aspiring entrepreneur must
develop the ability to think outside the box whenever the need arises. Your
ability to bring solutions to problems that do not seem to have solutions sets
you apart from your competitors.
- · You must be Innovative
Innovation
keeps every entrepreneur relevant. If you aren’t innovative enough in your
field, there is every tendency that your competitors will overtake and crush
you. Being innovative is not just important, it is absolutely obligatory. Your
ability to add a strikingly positive difference to your products and/or
services keeps you outstanding amidst your counterparts in the same field.
- · Build and Maintain your Self-Confidence
The
need for confidence in the life of every aspiring entrepreneur cannot be over-emphasized.
Confidence is one of the important
elements that sell you to your clients. You must be as confident as possible to
inspire success towards your way. Confidence gives you the illusion of positivity-
and which actually creates the progressive results you need. Confidence is what
keeps you ahead of others and make you win the contracts against your rivals.
Confidence does not entail arrogance; it signifies superiority, belief in
yourself and in your capability, the self-assurance of your abilities. Confidence is quite intimidating to your
competitors and makes them give way for you even before you arrive. Develop
that feeling of superiority and watch how successful your journey to the world
of entrepreneurship would be.
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- · Hunt for and Act on Information
Information
is a very valuable resource every entrepreneur should not just hunt for but act
on. The difference between a successful man and a failure is the degree of
information both had. And fortunately, the internet is filled with an unending
library of knowledge. This is where I always emphasize the importance of
reading. If you are aspiring to become an entrepreneur, constant use of the
internet to acquire valuable and timely information in your area of expertise
shall make you exceptional in your sector. A large amount of information at
your disposal means enormous volume of knowledge that would be useful to your
business.
- · Be Self-Disciplined
The
bridge that connects your goal and its accomplishment remains discipline. It is
very necessary every entrepreneur disciplines oneself if one is to be successful. To be hard-working
entails discipline. Results are not gotten at the planning stage. They are
always gotten when you execute them. It takes discipline to turn plans into
actions, to turn thoughts and ideas into realities. Only when you imbibe the
attitude of discipline would you be able to execute your plans successfully as
an entrepreneur.
Article Written By Emmanuel
Chukwuemeka Eminent Agbo
A Motivational Speaker, a Content
Writer, a Blogger and a Digital Media Marketer
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