6thMar

A Journey to ENTREPRENEURSHIP – Part two

 

Can everyone become an entrepreneur?

Not everyone is cut out to become an entrepreneur. Becoming an entrepreneur requires a lot that many can’t offer. For you to be an entrepreneur, you must have the “right stuff.” You must be willing to lose everything you invest in your business idea, and is already a limitation because many can’t afford to bare such a risk.

It is said that, the reason why we only have fewer rich persons and entrepreneurs in the world is because only 1% of the world’s population can dare to start something, whereas 99% can only work in what others have dare to start. Entrepreneurship requires a lot of smart thinking, and a lot of discipline. You must be confident and willing to go beyond your comfort zone, and sometimes even feel comfortable working alone.

If you are that type who always wants to seek people’s opinion for whatever step you take or idea you execute, then you can’t be an entrepreneur. Entrepreneurs are ready and feel very comfortable working alone because at the beginning, many might not see through the thick fence. Even if you attend the best business schools, you won’t still be able to become an entrepreneur if you don’t have what it takes to keep the candle burning even when others see no fire in it. In my book “The PASSWORD to Entrepreneurship,” I have all these examined.

 

Let’s understand who is an entrepreneur?

The question is, if everyone cannot become an entrepreneur, who then is an entrepreneur? Entrepreneurs are those people who identify problems in the community, and provide a solution to those problems and in return make money out of the solution they provide. An entrepreneur is a solution solver. He always sees opportunity through a problem. He sees through every problem he identifies, while providing solutions to the problems.  Entrepreneurs know that a problem is normally an opportunity to get paid if they can provide a solution to the problem.

Successful entrepreneurs make their name identifying problems without solutions, and providing those solutions. Every good product solves some sort of problem. That is why in all my trainings, I always commission my audience who are aspiring to become entrepreneurs to identify a problem in their communities or the society as a whole, and provide a solution to it, and it will help them earn money.

If you desire to become an entrepreneur and to be a successful entrepreneur, always respond to every given problem with a solution to the problem, and not concentrating on who is to be blame or how the problem came about. An entrepreneur makes problem solving a habit. An entrepreneur takes calculated risks, is self-motivated, confident and more just as we discussed in our first episode of our Journey to entrepreneurship. However, in our next episode, I will take time to examine some of these very important attributes of an entrepreneur.

 

Who can become an Entrepreneur?

Like I mentioned earlier, not everyone can become an entrepreneur because it requires a lot than many can offer. But notwithstanding, there are some general traits that sometimes indicate that someone can become an entrepreneur. These traits are many, but I will identify just a few for now.

If you are not yet an entrepreneur, but often find yourself in the following situations, it’s an indication that you can become an entrepreneur. This is, when you are always itching to come up with something or do something great;  always coming up with ideas; you always find flaws in other ideas; you feel marvel at the success of successful businesses; you constantly think of ways to improve your employer’s business or situation around your community; you love knowledge, learning new things; you dream of wealth or becoming rich; you don’t give up easily on an issues; you exercise discipline in your habits; you are not afraid of failing and starting all over again, and you always like setting goals for yourself and more. These and many more are indicators you can become an entrepreneur.

 

Where do I start if I want to become an entrepreneur?

Just like I said in our last episode, the journey to entrepreneurship starts with a change of the mindset. That to me is the first step you have to take. You have to stop thinking as an employee and start thinking as an employer. This mindset will enable you conceive a good business idea.

This therefore means that idea generation is the second step of becoming an entrepreneur. Every successful business venture starts with a good business idea. You need to conceive a marketable business idea and make sure there is a market for your idea. This idea could either be a product or a service. Never invest in an idea without testing the viability of the idea. That is why you must find out if there is a market for your business idea. You may think you have a great idea, whereas others don’t see it.

By determining if there is a market for your product or services, you are finding out if you can make money selling that product or services. This will also require you to determine what prices to charge in order to make a profit? Once you establish your price, try to determine if people are willing to pay that amount for your product or service. At this point you must be careful with the price strategy you put in place. While setting up a price for your product or service, always consider the quality of the product or services, the prices of related products or services, the uniqueness of the product or service, your competitors and others.

Finally, and the most important is the value your product or service is to bring to the market. What make your product different and unique, than those of your competitors? We are going to take this topic in episode 5 of our ongoing journey to entrepreneurship. Thanks for reading; please I will like to hear from you. Please do leave a comment bellow.

By TAMINANG Search, to aspiring Entrepreneurs.

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Entrepreneurship is the key, but its starts with the mindset.