It’s on record that small businesses in USA have only about 37% chances of surviving the first 4 years, and about 9% chances of surviving the first 10 years. In Nigeria, it’s generally assumed that only about 13% survives the first 4 years. In Nigeria, lack of financial support from financial institutions is the biggest […]
What Type Of Business Is This?
Business can be said to be every activities that involve the exchange of money for a product or service. Business is considered a Current Asset. According to Robert Kiyosaki of ‘Rich Dad, Poor Dad’, “asset puts money into your pocket” Yes, you are in business. But What Type Of Business Is Yours? There are several […]
Qualities That Make An Entrepreneur
Entrepreneurs are known to possess some special qualities, these qualities are the reasons they can survive the rough terrain of entrepreneurship. GOAL SETTING: This is the first step; here, your goals are put into writing in the form of a plan. SELF CONFIDENCE: An entrepreneur should believe in his or her ability. Example: From my […]
…You Don’t Need A Business Plan
A Business plan is simply a written document that clearly states what your business would look like, how you plan to run the business, and what you stand to achieve or gain. A Business plan is the fictional story of your intending business. A Business plan is an unemotionally written scripts of a business. A […]
6 Things You Must Know Before Starting That Business
Starting a business is not all about how confident and desirous you are, but a dispassionate study and understanding of your personal potentials and the market terrain. Before you venture into that venture, it’s important you ask the following questions: 🔹Can I manage this business? Do I have the skills? Do I need to acquire […]
The Differences Between Business People And Entrepreneurs
The word entrepreneur surely does have everything to do with business or businesses. Therefore, this writeup isn’t intended to cause semantic conflicts, but to expose those slight differences between business people and entrepreneurs. All Entrepreneurs are business people, but all business people are not entrepreneurs. The Differences: Entrepreneurs: are usually driven by their dreams and […]
The Place of Skills in Entrepreneurship
Skill is defined as an ability that has been acquired by training. Skills do play a far more higher role than talents. Skill believes that everything is learnable. Research has shown that children tilt towards what they see their parents do. Observation is a vital component in TRAINING Having seen how lucrative Sports and […]
The Only Way Entrepreneurs Make Money
Entrepreneurs are problem solvers. Entrepreneurs are solution finders. Entrepreneurs are condition enhancers. The only way entrepreneurs make money is by solving a problem 🔹Barbers are paid for solving a problem. Bushy hair is a serious problem, and barbers are trained to fix it. 🔹A computer technician is paid for solving a problem. A faulty laptop […]
The Place Of Talent In Entrepreneurship
Talent is simply the uncommon natural ability to carry out a particular activity. That unusual innate ability is Talent. Every human do possess some degree of talent. Talent left uncultivated, ungroomed or unmentored, ends in obscurity. This is what Talent should look like: There’s no contention in Talent. Mr. A may be talented in making […]
It’s A Business GOAL
Every entrepreneur is in business for one reason or the other. Your Reasons for being in a business is your Goal. GOAL=AIM + OBJECTIVE Goal A Goal is a combination of two basic elements, which are: Aim and Objective Aim✔ 🔸Your Aim is what you want to do for them or others. 🔸Your Aim is […]