A journey of a thousand steps starts with one
single but definite step, yet only when we know what direction we are heading
can we actually get there.
Entrepreneur Development is the new wave of this century;
this is expected as we have long moved from the Industrial Age are now in the
Information/ Service Age
In a developing Economy like Ours: Nigeria, there
is potential for many enterprises to spring up and they have generously. This
can be attributed to the challenges of a large influx of educated and over
qualified graduates, skilled individuals and people not having job satisfaction.
Austrian-American economist Joseph A. Schumpeter stressed the role of the entrepreneur as an innovator, the person who develops a new product, a new market, or a new means of production. According to Encarta ‘An Entrepreneur is somebody who initiates or finances new commercial enterprises’
Commercial Enterprises comprises of Small and Medium and large Enterprises.
Small businesses/ enterprises can be classified as
businesses like fish ponds, business centers and salons. Which is a brilliant
way to combat unemployment but starting up a business has its ups and downs.
Medium enterprises cost more to start up and might
require collateral to gain access to the start up capital.
Large enterprises have investors who generally are
guaranteed a sizable return on investment within a certain period.
Small Medium Large enterprises need capital to
start up and sustain growth; there are loan facilities available with stringent
measures ensuring there has been thorough research and experience carried out.
This reduces the risk of folding up but does not guarantee the success of the
enterprise.
As a business builder the start up is just the
beginning taking the business to the next level by building or duplicating
working systems is what makes it a big business. A business that can run
without you physically been present for a year is truly on its way to becoming
a Big Business.
According to Forbes magazine a big business
is one that has a minimum of five hundred employees. Grooming a business until
it becomes a Big business takes time and a lot of lessons which many
individuals are not patient enough to stand the test of time. Statistics show
that most businesses that start up fail within five years
Challenges are actually there to strengthen
and help us recognize that we are armed and able to tackle these challenges
with our God given gumption. Of course there are other attributes necessary to
strengthen us and help us succeed
Mind Set: Unless we develop a positive attitude,
simple tasks would just overwhelm us and
slow down the time it would normally take us to achieve our goals. Even speed
without direction can be as fatal as not tasking our self to solve the
challenge
encountered.
Belief: We all say it with pride and it has become part
of almost every speech and why not
‘YES WE CAN’ Belief is the bedrock and foundation of every individual who has
succeeded and continues to succeed. We all know the Thomas Edison story he
didn’t
fail he only found out the many ways the light bulb could not work. Then
Eureka, he
found the one way it
could.
Think: Emerson said ‘nothing is but thinking makes it
so’. Thinking wraps up the belief
system and mindset of the individual. To think and be innovative changes
everything.
It is after all not just what is said but how its said and according to Mandela
it is the
extra in ordinary that makes the ordinary extra ordinary
Action: Action speaks louder than words, the simple test
of showing a crowd of people your
hand touching your chin and saying simultaneously touch your jaw. Proves that
people do as you say and copy exactly what you do. After all, success is not a
destination, it is a journey. A journey that requires bold massive action with
SWOT
(Strengths, Weaknesses, Opportunity, Trends) analysis set against goals.
Knowledge: A problem identified is half solved, not
having information is dangerous and
having the wrong information is as deadly as having a map to Abuja and reading
it as
map for Lagos. You will get nowhere with that information because it is
entirely
wrong. How can an individual get the right information? Research, higher
experts,
learn on the job, be curious,
find out what others did to succeed.
Management: This can break or make the enterprise, good
management will motivate and
ensure that business runs smoothly while bad management would wreck n
enterprise.
With small and medium scale enterprise there is a tendency for it to be a one
man
show. This increases the risk and the best way to cushion this effect is to
clone or
borrow the system organizations use to manage their business.
These steps seem very basic right? It is, but it’s
not a one off learning curve that dips when business succeeds. It’s an ongoing
experience one develops as business grows.
Creating small new enterprise that blossom and grow
to big companies is a reflection of the growth and development of the nation.
Years ago the Fashion industry was not as Big as it
is now. Few capitalized on this opportunity and silently made money, now the
Fashion industry is one where we have many Nigerian Designers home and abroad
flying the Nigerian flag and making a fortune on the way like Frank Oshodi and
Zizi. The movie industry has created a new wave of celebrities that enjoy red
carpet treatment and endorsements; several of these artists have started their
own production outfits producing movies home and abroad like Stephanie Okereke.
Entrepreneurship Development is one that fuels the growth
of the nation and as Nigeria clocks fifty, we raise our glasses and salute
every one that has contributed to the growth of our nation.
***COPYRIGHT 2016***
**BUSOLA ELEGBEDE**
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