Why Entrepreneurship is not for Everybody

Entrepreneurship is the process of starting a business, a startup company or other organization. The entrepreneur develops a business plan, acquires the human and other required resources, and is fully responsible for its success or failure.

Ini Onuk, CEO and Lead Consultant at This-tle Praxis said “Entrepreneurship is not for everybody, the technicalities of running a business is different from your talent and creativity,” she adds, citing an example that qualified medical doctors, do not necessarily possess the requisite skills to manage a hospital.

Speaking on the Mara Mentor Talk Show, Onuk, who is an experience management consultant and a Mentor, on Africa’s largest entrepreneurship community, Mara Mentor, shared tips for young Nigerians who are venturing into the entrepreneurship space.

“A role model is different from a mentor,” she says, “a mentor is someone you have an on-going communication and relationship with, thus young entrepreneurs should focus more on getting mentors, not necessarily role models.”

Below are Ini Onuk’s 5 tips for young Nigerian entrepreneurs:

  1. Go beyond the basics of what you do. Pay attention to your business and be the best at it. Break boundaries.
  2. Put structure in place. Lack of structure helps businesses to fail. Although it is okay to start without a structure, but as soon as you do, start putting structures in place. Do not hide behind the myth: start-ups don’t have structures.
  3. Never get comfortable. Mrs Onuk shares this same philosophy as Steve Jobs, whose stay hungry, stay foolish idea keeps inspiring entrepreneurs worldwide. She however adds to it, as she says, “be consistent and be very conscious of customer service.”
  4. Seek knowledge and improvement continuously. Trends change every day, so be abreast with the latest in your industry, and even beyond that take cognizance of everything.
  5. Take risks. Don’t stay in your comfort zone. Don’t be risk averse; always strive for greater heights, but in your entire risk taking, be strategic.

This I believe is simple and straight to the point. If you need any clarification or have questions on how to be a better Entrepreneur, share it by commenting below and your matter will be discussed.

To all Entrepreneurs in the world, be proud of you cos it’s not easy to be self independent, innovative and industrious.

Shalom.

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Francis Nwokike

Francis is a Passionate Social Entrepreneur. Love discussing new trends in Business and Marketing. A Startup consultant. A good listener. Love to help that your business grow.

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