YOU AS AN ENTREPRENEUR (02)

Hi beautiful people! 

Thanks for staying with us. I hope you are doing very fine too? On our last post, we talked about Entrepreneurship and how to survive in the market. You can catch up here (https://www.teniolalimarh.com.ng/2020/06/you-as-entrepreneur-1.html ) in case you missed it. 

On this episode, we will continue our discussion on entrepreneurship as you will be introduced to more steps and activities that an entrepreneur must know. Sit back and enjoy. And don't forget to share. 

Before I go further, I forgot to mention one very important point in the previous post. It's the fact that you shouldn't venture into any business because 'people' are doing it. The decision should be borne out of passion. Although it might be for financial buoyancy at the long run, make sure it's something you are really interested in. Else, you might get tired along the line and productivity will be affected. 

Other factors include;

1. Get Relevant Training: Before you venture into entrepreneurship, it is important to note that you need relevant and effective trainings; especially for handiwork related business. This will help you through the experience you needed to be a pro

 It will also help you grow your network. You need a good network during and after the trainings. It helps in terms of need. As you learn, you would have met a lot of people with related goal or objectives. 

2. Raise money: Money is the engine of good deliveries. So If you have the capital required for the business, you are then half ready. You can raise this money through friends and families. Moreover, It is strictly not advisable to borrow money for start-up.  But if raising fund really proves to be that difficult for you, you can then approach a microfinance bank or seek for a cooperatives for loan. Fund raising will help you get necessary equipment to start up your brand.

3. Target Audience: Trust me; you need to detect you target group at which your product or services are aimed at. They are the people who are most likely to buy your products or services. This means that your target audience will have common characteristics. Remember to go after the people who really want to buy from you, even if they’re not the customers you originally set out to reach.

You can't target Everyone, but you can sell to everyone.

4. Fix your price: This is the interesting and the very annoying part of entrepreneurship. I will advise you to have a fixed price but it doesn't stop you from giving room for negotiation. Don't be ridiculously cheap, as far as what you are offering is nice and outstanding. But if you know it's not worth it, don't scare potential customers away. Be friendly with prices. Remember; making money isn't as easy as it seems. In one word, let your goods and services be affordable.  

5. It is not about what you want. It's about what people want. In some instance anyway, it isn't about what they want always too. You own the business, the idea is all yours but what you do with the business isn't personal. The value of  services and goods you provide will be determined by those you offered it too.

In other words, people sometimes don't know how to satisfy their wants. Like in Economics, humans wants are unlimited. It's your job as an enterprise to figure out this wants and satisfy them with it.

6. Unlearn and Relearn: Like the common saying, nobody is an island of knowledge. That's exactly how it is. When people express opinions that differ from yours, take it as a chance to grow. Be curious, not defensive. The only way to disarm another human being is by listening. You can't be perfect. It doesn't mean you should belittle your strength though. But there are few occasions or situations especially amongst individuals of the same business and goal as you are, do not use that as an opportunity to compete. Then, you will learn new things and figure out most of those you are holding on to isn't a necessity.

I hope this helps a bit, till we meet to discuss on entrepreneurship again. Don't forget to get busy. Grow more skills and apply them to your businesses. 

Watch out for the next episode. It promises to be amazing and interesting as usual. It's a topic you will be very much interested in. In the meantime, share and drop your comments below. Cheers... 

Yours lovely,

Teni❤