Entrepreneurship: 5 reasons why you should ignore those fairy-tale stories

Photo from Pixelbay Entrepreneurship: 5 reasons why you should ignore those fairy-tale stories

Social media platforms have grown increasingly popular in the last decade and have brought with it several opportunities for businesses, individuals, and corporate bodies, among others to put themselves out there. One way individuals showcase themselves on social media platforms is by filling out the BIO section. To increase your chances of getting scholarships, job offers, grants and collaborations, many websites and blogs even offer courses, training and publish several articles and tutorials on writing a professional-looking bio.

With the knowledge of the power of bio, it doesn't come as a surprise that many Nigerians have words like "CEO, Entrepreneur, Manager, and Director" included in their bios, without having the knowledge, skill or even experiencing the pitfalls and successes associated with those titles.

A lot of glamour and prestige are associated with entrepreneurship so often that so many people see it as a get-out-of-jail card, or a chance to lazy about and earn six figures at the end of the year. Unfortunately, this is rarely ever the case. The allure of freedom of time, financial independence, and sacking your boss has sucked in too many people. While this glamour can be attainable through running your venture, it usually not all rosy as we are made to believe.

This article will help in bursting some of the myths that surround entrepreneurship - what you usually don't hear a lot about entrepreneurs, and what entrepreneurship is and isn't.

PS: I'm no authority in the field of entrepreneurship; the opinions in this article are solely based on experiences.

Below are a few things you probably haven't given a lot of thought.

1. Entrepreneurship is not a get-rich-quick scheme                          

If you thought you would make thousands or even millions of naira right after you start your business, well, that is rarely ever the case. We are often emotional about our ideas and projects. So much so that we tend to underestimate or overestimate what we are capable of achieving. Understanding that success won't happen overnight and that you may probably fail is essential before starting. Have an apparent reason and vision for pursuing your venture. Create a long term plan that motivates and pushes you to achieve success.

2. Knowing how to sell is a lot more critical than a fabulous idea.

Ideas are pretty common these days. Chances are there is (always) someone out there with the same idea. So it doesn't matter how great it is if you are unable to sell. Selling is an integral part of your business – selling your product, company and even yourself. Learn how to sell and be excellent at it.

3. You need a massive dose of self-motivation

To say you need to be self-motivated is an understatement. I'm not talking about Fela Durotoye or Steve Harris. Regardless of family and friends, you will be battling with self-doubt, which can be emotionally and physically draining. You will have to wake up in the morning and continue your work even when you feel like giving up. The temptation to stop will always come, especially when things aren't going the way you planned. You are solely responsible for your success. You may eventually grow your team, but as a start-up, you will need to learn how to be your business's marketer, head of the customer service, finance, and PR coordinator.

4. Building your ideal team is difficult

While running your business could be exciting, getting people on board could be challenging. Don't be surprised if your friends are not so keen on jumping on the train. You may have to do it alone when you are starting. People won't buy into your idea until you show value. Accept the fact that you will get a lot of "NO" and take valuable feedback from it. Work on developing your business skills, setting and reaching goals and learning to put money back into your business. When you can back up your claim, your team will slowly take shape.

Read Team building for optimal productivity for more insights on team building

5. You will work longer hours

As a founder of a company, your success will most likely depend on what you do. When starting, you would most likely not be in control of your time. You should probably keep your eight to four job if you don't like the idea of working late. As you progress, you will understand how best to work and balance time.

Final Thoughts

Being an entrepreneur can be tough, but the rewards are massive. You know you will be up to the task if you don't get intimidated by this article but rather learn valuable insights. Entrepreneurship can go a long way to solving Nigeria's problems and what better way to make money while providing a solution to a problem.

Team Building For Optimal Productivity
How Small Businesses can market without money

Comments 1

Guest - Mb on Friday, 15 November 2019 12:12

I have really been informed. I don't think I want to be an entrepreneur.

I have really been informed. I don't think I want to be an entrepreneur.:p:(
Already Registered? Login Here
Thursday, 28 May 2020
© 2020 Allen Reed. All Rights Reserved.