ENTERPRISE54 – These days, everyone wants to be an entrepreneur or better still called an ‘entrepreneur’, but there is more to entrepreneurship than what we think we know about it. This post is to communicate that entrepreneurship is not for everyone. Paid Employment is no longer enough to depend on in present day Nigeria. Many
ENTERPRISE54 – These days, everyone wants to be an entrepreneur or better still called an ‘entrepreneur’, but there is more to entrepreneurship than what we think we know about it. This post is to communicate that entrepreneurship is not for everyone.
Paid Employment is no longer enough to depend on in present day Nigeria. Many people are seeking ways of diversifying income, seeking alternative or multiple streams of income. Many are turning to entrepreneurship and small businesses for this reason. Some youths are even considering dropping out of school to pursue entrepreneurship dreams. However, with the volume of data available about small business or startup failures, it is important to determine if starting a small business is the best way for you.
This article seeks to identify 5 key pointers that will help the reader, determine if entrepreneurship is really their forte.
1. You Are an Habitual Latecomer
If you are an habitual latecomer in your present job, entrepreneurship isn’t for you. The reason is not far fetched. Entrepreneurship requires efficient time management, consistency and punctuality. These are skills and attitudes you need to develop while on a paid job. If you are late to a paid job, you’ll be late in your business. When you are late to close a deal, you begin to lose respect and client base keeps reducing. When that happens, you won’t be in business for too long.
2. You Need Constant Supervision
The good thing about having your own business is the freedom and authority that comes with it. You can decide to delay a task because no one is breathing down your neck. However that same freedom could be the death of your small business. If you are not careful, it signals the beginning of sloppiness. Indiscipline is one of the reasons startups fail in Nigeria. If after years on the job, you still need monitoring and supervision, entrepreneurship isn’t for you. Don’t even bother, because you will run down your startup. Entrepreneurship requires thinking on your feet, innovations, doggedness and discipline. No external supervision, (except mentoring).
3. Your Input in Your Present Job is minimal
As a business owner, you need to be able to multi-task. Especially when you are starting out, You do a whole lot of things. If your input in your present job is minuscule, entrepreneurship isn’t for you.
4. You Don’t Do More Than Your Job Roles
Entrepreneurship requires hard work, doing more to beat your competition. Not for lazy asses. If all you do in your present job is what you are given and nothing more, entrepreneurship isn’t for you. It simply means you are not ready to take more challenges, you are not ready to solve more problems and entrepreneurship is about solving problems.
5. You Are Happy With Your Job
If you are happy and fulfilled in your paid job, entrepreneurship isn’t for you. The rule of the thumb in choosing a career or starting a business is to do something that you are comfortable with. Something that makes you happy. Entrepreneurship requires a clear head & healthy mind. If you are happy with your current Job, stick to what you are good at.
A Question for you: Have you ever thought of starting a small business? Do you think you have what it takes to succeed?
Editor’s Note: This post first appeared on Spread Media1 comment