The story of a man is never always simple at all, there must be ups and downs to show that he is fully a man which he calls himself. Which is same in Business. In our world today, both Men and Women who wants to become entrepreneurs are always faced with challenges, and sadly, many could not rise above the challenges.
The journey will always be rough and never easy but one thing still remains sure that there is always a way out from a problem. The entrepreneur business is all about taking risks just to finally obtain success. Everything in this life has a sequential follow up. If you skip anything no matter how small it is, it will stop you from achieving that dreams you believe to achieve.
Every success full business you see today started from a plan or idea to a dreams and it was followed up gradually before it attained this position right now. The billion Naira capital does matter alot, but not that much, because the real aim and target is to utilize the money and time well, so to achieve something meaningful at the end of the day.
I am going to carefully show you all the steps to making money as an Entrepreneur, what and what you have to do to be up doing and successful. Firstly, you have to search and look for the area you want to discover yourself, What is that thing that you want to do to achieve your dream in your life?. What is that thing that you are very good at that if you work on it it will earn you a living and you be fully be established as an entrepreneur. Sometimes, it may be what people see and love inside you which might be even noticeable to you or not yet.
1} Identify your Skill
What service can you offer in exchange for money that people are willing to pay for?
If you know that you are blessed with one skill or the order for example, drawing, typing, sewing, painting and so on. There are millions of businesses; different individual can involve them self in to make the money come fast and steady. Just ask yourself , what are your skills and talent?
2} Go for training to improve that skill
After knowing your skill, find a means of developing it because one thing is to have a talent and another thing is to develop it. You have to look for way to go through a proper training to improve on your skills, go for it as this will help in improving creativity. Make sure that you take note of every detail as you go about it and master it well to perfection. Seek for advice from your trainer because he or she is the best person to guide you as they have been through that lane before you. Always use their success stories as your motivation.
3}Research for the area you wish to start up the business
Make sure you make a proper research for the area or location you want to reside to do your business. Always have it at the back of your mind that the fewer the number of people doing similar business the better. As for me, I will advise you that It is better to get a place where nobody has started to enjoy the monopoly of being the only person doing that business there.
4} Draft out a Business plan
Your next step will be drafting out a list of plans you want in your business because there is never a successful business that does not have a plan and how you plan to carry out the plan and the expected outcome at the end of the day. Your business plans includes source for the Capital for starting up the business, who are your target audience for the business, how many workers you need to employ to assist you in your work {if necessary}, how to source for raw materials, a sketch of what the end product will be like, what the price of the item will be, your break even analysis, what the profits generated will be used for at the end of the day and so on.
5} Find Opportunities other people missed
Your next plan is to go out and look for opportunities where people failed and believe that you will make it well there. Always look for good opportunities as a good entrepreneur because entrepreneurship is a learning process and you must keep learning from the day you start a business till the day you quit the business. Do not always forget the developing of your skills too, train yourself to the core.
6} Learn how to raise Money
As an Entrepreneur business man or woman you should always learn to raise capital because If you don’t know how to raise capital; forget about becoming an entrepreneur. As an entrepreneur, you must learn to raise capital internally, as well as externally too. Money is the life blood of a business and as an entrepreneur business man or woman; it is your job to make sure that cash continuously flows in and out of your business. A real entrepreneur is known by he or her ability to raise money continuously.
7} Ask your customers of what they think about you
This particular one will teach you how to improve on your activities concerning your business. Always try to hear from customers and accept whatever they say about you and work towards improvement because Change is inevitable. Look for those things that will make your product different from other products in the market. Always make a Review of your products from time to time to know when the need for improvement comes up and apply the improvements into your business with immediate effect.
8} Reinvest part of the profits generated
This is another key way of becoming a successful entrepreneur, do not be comfortable in your present situation and always try to re-invest to multiply your cash because it is the key to becoming a successful and made entrepreneur in Nigeria. Always Carry on the family so that there will be somebody who can take over from you when you attain old age or dead as the case may be.
Leave a Comment