Six tips in becoming a successful entreprenuer.

Becoming a successful entrepreneur is very possible when the right approach and method is applied.
Entrepreneurship  has become so popular and common in this 21st century.

With the advancement and development in technology, and also high rate of unemployment, entrepreneurship has come to be the most alternative source for so many seeking to become financially independent and successful.

Gone are the days people graduate only to sit at home waiting for white collar job which  seems not to be feasible and are rarely in existence. With the highly saturated and competitive labor market, , a lot of people are becoming creative in various ways.

It is no surprise that even people who are gainfully employed are equally embracing entrepreneurship  because they have to come to the realization that no job is secured and there is a need for one to become financially independent and have other streams of income incase the rainy days strike, so as to always have something to fall back to. On the other hand, some are already getting tired of their 8- 5pm job. Hence the need to embrace entrepreneurship.

Now the question is, how can one become a successful entrepreneur? Is it just about the money or Capital to begin with, or are there other skills needed. Lets find out.

Tips to guide you in other  to become a successful entrepreneur  

Good managerial skills.

To become a successful entrepreneur, you have to be good in time management.

A lot of folks has developed this habits of using the word” i don’t have time”, yet they want to break through and become financially independent. I was once like that but i came to understand that time is not made, time can never pause for you.

You can only craft out time from your busy schedules to achieve whatever you desire to achieve. I laugh when i hear people say they are wasting time. ” is not true, time is infinite, it can’t be wasted. Time is always here and will forever be here. But you are the one wasting, you are the one getting older as the year goes.

Make the very best of your time. You can still be working while building other things for yourself.. I wouldn’t say is easy, but is possible. It is called “sacrifice”and sometimes before you achieve anything in life, you have to sacrifice your time. Just be determined. Schedules your time and give yourself target. Do not spend much time on irrelevant things, time counts.

Risk taking.

Entrepreneurs  are the greatest risk takers, because being the boss, they bears the responsibility of any loss they may encounter in the course of their entrepreneurship. Unfortunately, this had held a lot of people back from pursuing their dreams.

They are afraid of failing, they are afraid of encountering loss along the line, they see more of their limitations than their success.

If everyone has this same mindset, no job would have been in existence. You wouldn’t have seen that company which you are presently working in.

I recalled when i was about to launch  my blog for the first time, the money was the last money i had, i was scared that i may not have some thing to fall back to. as becoming a successful blogger actually takes time. But i ignored that thought and took the risk. My focus was more on my future gains and not on the momentarily  situation. To become a successful entrepreneur, you have to be a risk taker . You must lean how to conquer  your fears.

Do your research.
To become a successful entrepreneur, you have to do a thorough research before embarking on any project.

Don’t  just start up something because you heard other people are making money from it. Always research well to know how profitable or marketable it is in your environment. Before you start up something, it could be a business or services.

Look around you to know if it is something in demand? If it is not, you may be wasting your time and resources.

Know your target audience, consider your location too. what problems can you solve for them? What services can you render? And how demanding is it? Entrepreneurs  are not just people who buy and sells, but people who solves problems too, thereby creating value.

This is why so many people fail in business. Someone makes money by selling building materials in a developed area. But you are in a ghetto( an environment where people’s greatest priority everyday is to eat and survive and not to build house). and you wish to sell same thing and make profit. It doesn’t work like that except you wish to go online or deliver from your own location to other locations. If you are in a school environment, look out for services students needs or product they often buy. Render a service in demand and applicable to your environment.

self improvement.
No matter how creative or skillful you are as an entrepreneur, you can never know it all or become perfect. There is always room for improvement. In other,to become a successful entrepreneur, you have to be persistence in learning.

The more you learn, the more ideas and information you are ingesting in your brain. It helps you become creative too and not depend on other people’s creativity to run your own business.

Contrary, to people’s belief and mindset, money is not the only factor needed to become a successful entrepreneur. Some business needs not just money, but creativity and idea too . Creativity and idea helps you invest your money wisely and not mismanage it. Services needs more of idea and creativity. It was an idea of someone that gave rise to technology and Microsoft. Google became more popular than yahoo because someone took his time in learning and improving himself. Android and apple superseded blackberry because the owners of the former never got tired of learning and improving on themselves. Business maybe saturated, but ideas can never be.

Start small.

I  don’t have capital, this is the major excuse by most people. Not all business requires huge amount of money for a start up. Look around, there is always a business that equates to your capital.

Why not start there and see how it goes .this was how so many great people started. do not neglect the days of your little beginning . the more you procrastinate, the more you spend the little one you have on something irrelevant till it gets exhausted. start up, the good thing is that no matter how small your start up capital is, you are investing it on something relevant.With time and all things being equal, you can always expand.

 

Patience.

Finally, This is one of the most important tips needed to become a successful entrepreneur, because this is why many people give up so early.

You might have probably passed the other five skills/test, but ain’t seeing any result, don’t panic, Don’t freak out. Just relax. The hard truth that few or no one would tell you is that it actually takes time. Genuine success ain’t built overnight. A lot of renowned people we celebrate and wished to be like today have their own stories  to tell. There was a time when no one could recognize them, times they hardly eat three square meals . But looking at where they are today and what they have achieved, you will wonder how it all happened. No wonder the saying, Rome was not built a day. you may also read /how-do-i-improve-my-life/