The Reality and Fantasy of Being an Entrepreneur
Without exaggeration, it will take two to five years for the global economy to heal. That means there will be space in the labour market for a while, it is already happening.
Then, there will be a lot of fantasies about starting a business as self-employment will be the game changer.
Experience has shown that fantasizing being a business mogul is the easiest thing to do. It is not only easy, it is sweet.
Reeling in sweet bliss of complete entrepreneurship ignorance; that`s an experience you will not like to have.
Have you been there before? Like Alice in the wonderland kind of a thing. It’s sweet but not real.
You can just close your eyes; then imagining an unimaginable.
Hey! Keep it to yourself because by the time you open your eyes, all you will see is reality.
At that point, when you wake up to reality, first lesson must have been learned.
Fantasy and Reality are not the same, this goes for wannabe entrepreneurs.
Managing a business is different from assuming you are in business; or teaching those running it how to do it.
Never mistake your idea to having a good business. It is not enough for you to have an idea.
Thousands of good ideas have fallen through and much more never see the light of the day.
Having an idea is not enough; you must be ready to implement it. That could only mean one thing: funding or call it capital.
Speaking of capital, it is a dicey case for cash base economy like Nigeria to think it is available everywhere you go.
That does not however mean that it is not accessible, somehow the land has been soften for capital but terms and conditions apply.
Okay, you have a great idea. Then, what? Ideas are cheap. It is everywhere. Some entrepreneurs have succeeded in executing some successfully and some did not.
Execution of a beautiful idea is what makes an entrepreneur. Don’t get it twisted, entrepreneurship opens you to a higher risk than you can imagine.
However, get hungry for more because it offers you freedom that last longer. Though, it has killed some who has miscalculated.
Entrepreneurs always have appetite for risk. Forget it; the road won’t be all that smooth but it always worth it after all.
Entrepreneurship is not a buzzword. It will never be, though. It is a lifestyle, a mandate.
Don’t copy anyone to be one. Above all, don’t rush into it. Learn to be an entrepreneur. You have to get sense to be successful.
Take your time to check your appetite for risk and if you are cut out to lead. And answer this question: What can I do with less stress?
Many people never own a kiosk, but they are very conversant sweet talking people into running a business; using blanket approach called advisory services.
Qualified or not, they are everywhere. No, don’t do that – no one should force entrepreneurship down your throat.
Take simple journey to discovery process.
Find out what you can do. Doing that opens you to lesser risk. You should know yourself better than any business therapist.
Third party assessment may help you in the discovery process but you have a major role to play.
So, they say you should not stay on the job? Do not allow anyone to tell you that you cannot reach peak of your career collecting salary.
You can but there is a ceiling. That ceiling, when you personally discover there is a limit; that is turning point for your career.
Never drop your job midway and say God call you to be an entrepreneur. How do you intend to get require capital to finance your business idea or plan?
Sort that out while you are engage on pay job.
Meanwhile, entrepreneurship is sweet. Don’t get me wrong. There are people that don’t have any idea about what to do with their lives.
Ideas can be generated. If you don’t have an idea, develop appetite for generating one.
Again, do not allow anyone to cow you to a corner with sweet talks about entrepreneurship. It doesn’t work that way.
You must be ready; doing business, producing or retailing is not as most people present it.
You can get burn if it turns out that you don’t have required skills. It can make you a force to reckon in business if it turns out to be successful.
In-between is a deep grave for incompetent business and cash flow management skills – You have to be strategic.
Companies fail all the time. As well, people are building successful venture here and there. You may want to ask why?
What makes the difference? Business, rather than ballooning can blow out. You must understand the very business you are going into. Or have someone that understands it very in your team.
Motivational speakers won’t tell you there are downsides, and that’s the problem. If you rely heavily on your plan, it may not work.
Planning is the word. More than half of your assumptions are wrong from beginning, that’s caveat on your business plan. It doesn’t take long before reality sets in.
If your idea is not scary then it is not original. Be ready to have sleepless night, that’s a sign that you’re doing something great.
Your mind will be fixed on what would be while you’re asleep.
Great! Don’t be scared, perhaps you are own your way to develop a great brand that will outlive you.
Business is sweet but entrepreneurs don’t come from the blue sky. Form a habit that encourages some level of risk taking- garnish your appetite for it.
Oh! You have a beautiful idea, but you have no financial muscle to execute it. You still have your chance to have a qualified management title as cofounder.
Put your idea in perspective –write a business plan, prototype, scale up with your team before you search for investors.
Don’t be surprise, people are looking for where to invest but there is a wide communication gap.
How do you convert ideas to a business? Write the vision down and make it plain on your table; that anyone that read it may be able to run with it!
Guess you are familiar with that; it is in the Holy Book.
Basically, unless you are financing your startups from your pocket, you cannot raise money from third parties without a business plan.
Dare to dream, don’t stay on payroll for most part of your life. It is on you, start small and grow.
Take home don’t really take anyone home again…enough reason to be an entrepreneur!
The Reality and Fantasy of Being an Entrepreneur by LSintelligence Associates